Equipment Collateral Control Clause Samples

Equipment Collateral Control. Subject to its rights under Section 5, (i) terminate, waive or release any material right with respect to any Equipment Collateral or remove any item of Equipment Collateral from Borrower’s facility located at the address set forth on the cover page of this Agreement or the applicable Loan Terms Schedule, provided however, that Equipment Collateral shall not (A) be located at more than three locations in the United States (other than Collateral that: (1) consists of computer and test equipment in the temporary possession of Borrower’s employees or Borrower’s vendors in the ordinary course of business, (2) is temporarily located elsewhere for thirty (30) days or less, and (3) the aggregate original costs of such Collateral does not exceed $50,000), and (B) be located outside of the United States, or (ii) affix or attach or permit to be affixed or attached to any item of Equipment Collateral any other item of property owned by Borrower or any other lender, lessor or financing party which is not readily identifiable or separable without any damage to such item of Equipment Collateral, without Lender’s prior written consent.