Common use of Fixed Assets and Inventory Clause in Contracts

Fixed Assets and Inventory. Subject to these Security Principles, a Guarantor shall grant security over its material fixed assets and its material inventory but it shall be free to deal with those assets and that inventory in the course of its business until a Declared Default. No notice whether to third parties or by attaching a notice to the fixed assets or inventory shall be prepared or given until a Declared Default. If required under local law security over fixed assets or inventory will be registered subject to the general principles set out in these Security Principles.

Fixed Assets and Inventory. Subject to these Security Principlesprinciples, a Guarantor shall grant security over its material fixed assets and its material inventory but it shall be free to deal with those assets and that inventory in the ordinary course of its business business, and as permitted under the terms of the Finance Documents until a Declared Defaultthe Acceleration Date. No notice whether to third parties or by attaching a notice to the fixed assets or inventory shall be prepared or given until a Declared Defaultthe Acceleration Date. If required for perfection, validity and enforceability under local law security over fixed assets or inventory will be registered subject to the general principles set out in these Security Principles.