Common use of Possession and Transfer of Collateral Clause in Contracts

Possession and Transfer of Collateral. Unless an Event of Default exists hereunder, the Borrower shall be entitled to possession or use of the Collateral (other than Instruments or Documents, Tangible Chattel Paper, Investment Property consisting of certificated securities and other Collateral required to be delivered to the Bank pursuant to this Section 6). The cancellation or surrender of any Note, upon payment or otherwise, shall not affect the right of the Bank to retain the Collateral for any other of the Obligations. The Borrower shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower may sell Inventory in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of business.

Possession and Transfer of Collateral. Unless an Event of Default exists hereunder, the Borrower shall be entitled to possession or use of the Collateral (other than Instruments or Documents, Tangible Chattel Paper, Investment Property consisting of certificated securities and other Collateral required to be delivered to the Bank pursuant to this Section 6). The cancellation or surrender of any Note, upon payment or otherwise, shall not affect the right of the Bank to retain the Collateral for any other of the Obligations. The Borrower shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower may sell Inventory in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of business.

Possession and Transfer of Collateral. Unless Until an Event of Default exists has occurred hereunder, the Borrower shall be entitled to possession or use of the Collateral (other than Instruments or Documents, Tangible Chattel Paper, Investment Property consisting of certificated securities and other Collateral required to be delivered to the Bank Lender pursuant to this Section 64). The cancellation or surrender of any Notepromissory note evidencing the Obligations, upon payment or otherwise, shall not affect the right of the Bank Lender to retain the Collateral for any other of the Obligations. The Borrower shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower may sell Inventory inventory in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of Borrower’s business.

Possession and Transfer of Collateral. Unless an Event of Default exists hereunder, the Borrower Borrowers shall be entitled to possession or use of the Collateral (other than Instruments or Documents, Tangible Chattel Paper, Investment Property consisting of certificated securities and other Collateral required to be delivered to the Bank Lender pursuant to this Section 6)Article 8). The cancellation or surrender of any the Note, upon payment or otherwise, shall not affect the right of the Bank Lender to retain the Collateral for any other of obligations secured by the ObligationsCollateral. The Borrower Borrowers shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower Borrowers may sell Inventory in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of business.

Possession and Transfer of Collateral. Unless Until an Event of Default exists has occurred hereunder, the Borrower Debtor shall be entitled to possession or use of the Collateral (other than Instruments or Documents, Documents with an individual value in excess of $10,000.00 (including Tangible Chattel Paper, Paper and Investment Property consisting of certificated securities securities) and other Collateral required to be delivered to the Bank pursuant to this Section 6)2. The cancellation or surrender of any Notepromissory note evidencing an Obligation, upon payment or otherwise, shall not affect the right of the Bank to retain the Collateral for any other of the Obligations. The Borrower Debtor shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower Debtor may sell Inventory in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of business.

Possession and Transfer of Collateral. Unless an Event of Default exists hereunder, the Borrower shall be entitled to possession or use of the Collateral (other than Instruments or DocumentsCollateral, Tangible Chattel Paper, Investment Property consisting of certificated securities and other Collateral required to be delivered to the Bank pursuant to this Section 6). The cancellation or surrender of any Note, upon payment or otherwise, shall not affect the right of the Bank to retain the Collateral for any other of the Obligations. The Borrower shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower may sell Inventory in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of business.

Possession and Transfer of Collateral. Unless Until an Event of Default exists has occurred hereunder, the Borrower Debtor shall be entitled to possession or use of the Collateral (other than Instruments or Documents, Documents (including Tangible Chattel Paper, Paper and Investment Property consisting of certificated securities securities) and other Collateral required to be delivered to the Bank pursuant to this Section 6)2. The cancellation or surrender of any Notepromissory note evidencing an Obligation, upon payment or otherwise, shall not affect the right of the Bank to retain the Collateral for any other of the Obligations except upon payment in full of the Obligations. The Borrower Debtor shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that as permitted pursuant to the Borrower may sell Inventory in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of businessLoan Agreement.

Possession and Transfer of Collateral. Unless an Event of Default exists hereunder, the Borrower shall be entitled to possession or use of the Collateral (other than Instruments or DocumentsDocuments with an individual value in excess of $10,000.00, Tangible Chattel Paper, Investment Property consisting of certificated securities and other Collateral required to be delivered to the Bank pursuant to this Section 6). The cancellation or surrender of any Note, upon payment or otherwise, shall not affect the right of the Bank to retain the Collateral for any other of the Obligations. The Borrower shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower may sell Inventory in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of business.

Possession and Transfer of Collateral. Unless an Event of Default exists hereunder, the Borrower shall be entitled to possession or use of the Collateral (other than Instruments or Documents, Tangible Chattel Paper, Investment Property consisting of certificated securities and other Collateral required to be delivered to the Bank Lender pursuant to this Section 6). The cancellation or surrender of any Note, upon payment or otherwise, shall not affect the right of the Bank Lender to retain the Collateral for any other of the Obligations. The Borrower shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower may sell Inventory in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of business.

Possession and Transfer of Collateral. Unless an Event of Default exists hereunder, the Borrower shall be entitled to possession or use of the Collateral (other than Instruments or Documents, Tangible Chattel Paper, Investment Property consisting of certificated securities and other Collateral required to be delivered to the Bank Lender pursuant to this Section 64). The cancellation or surrender of any the Revolving Note, upon payment or otherwise, shall not affect the right of the Bank Lender to retain the Collateral for any other of the Obligations. The Borrower shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower may sell Inventory in the ordinary course of business and may sell propertyworn, plant and damaged, or obsolete Equipment in the ordinary course of business.

Possession and Transfer of Collateral. Unless an Event of Default exists hereunder, the Borrower Borrowers shall be entitled to possession or use of the Collateral (other than Instruments or Documents, Tangible Chattel Paper, Investment Property consisting of certificated securities and other Collateral required to be delivered to the Bank Lender pursuant to this Section 6). The cancellation or surrender of any Note, upon payment or otherwise, shall not affect the right of the Bank Lender to retain the Collateral for any other of the Obligations. The Borrower Borrowers shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower may sell Inventory as expressly permitted in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of businessaccordance with Section 9.3 hereof.

Possession and Transfer of Collateral. Unless an Event of Default exists hereunder, the Borrower Borrowers shall be entitled to possession or use of the Collateral (other than Instruments or Documents, Tangible Chattel Paper, Investment Property consisting of certificated securities and other Collateral required to be delivered to the Bank Lender pursuant to this Section 6). The cancellation or surrender of any Note, upon payment or otherwise, shall not affect the right of the Bank Lender to retain the Collateral for any other of the Obligations. The No Borrower shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the a Borrower may sell Inventory in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of business.

Possession and Transfer of Collateral. Unless an Event of Default exists hereunder, the Borrower shall be entitled to possession or use of the Collateral and Facility (other than Instruments or DocumentsDocuments with an individual value in excess of $100,000, Tangible Chattel Paper, Investment Property consisting of certificated securities and other Collateral required to be delivered to the Bank pursuant to this Section 6). The cancellation or surrender of any Note, upon payment or otherwise, shall not affect the right of the Bank to retain the Collateral for any other of the Obligations. The Borrower shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the CollateralCollateral or the Facility, except that the Borrower may sell Inventory in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of business.

Possession and Transfer of Collateral. Unless an Event of Default exists hereunder, the Borrower shall be entitled to possession or use of the Collateral (other than Instruments or DocumentsDocuments with an individual value in excess of $500,000, Tangible Chattel Paper, Investment Property consisting of certificated securities and other Collateral required to be delivered to the Bank pursuant to this Section 6). The cancellation or surrender of any note (including the Term Note), upon payment or otherwise, shall not affect the right of the Bank to retain the Collateral for any other of the Obligations (other than the Bank Product Obligations). The Borrower shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that Collateral (other than Dispositions described in and permitted under clauses (a) through (e) of the Borrower may sell Inventory in the ordinary course definition of business and may sell property, plant and Equipment in the ordinary course of businessAsset Dispositions).

Possession and Transfer of Collateral. Unless an Event of Default exists hereunderExcept as otherwise set forth herein, the Borrower Debtor shall be entitled to possession or use of the Collateral (other than Instruments or Documents, Documents (including Tangible Chattel Paper, Paper and Investment Property consisting of certificated securities securities) and other Collateral required to be delivered to the Bank pursuant to this Section 6)2. The cancellation or surrender of any Notepromissory note evidencing an Obligation, upon payment or otherwise, shall not affect the right of the Bank to retain the Collateral for any other of the Obligations. The Borrower Debtor shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower Debtor may sell Inventory sell, replace or substitute any Collateral in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of Debtor’s business.

Possession and Transfer of Collateral. Unless Until an Event of Default exists has occurred hereunder, the Borrower shall be entitled to possession or use of the Collateral (other than Instruments or Documents, Tangible Chattel Paper, Investment Property consisting of certificated securities and other Collateral required to be delivered to the Bank pursuant to this Section 6). The cancellation or surrender of any Note, upon payment or otherwise, shall not affect the right of the Bank to retain the Collateral for any other of the Obligations. The Borrower shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower may sell Inventory in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of business.

Possession and Transfer of Collateral. Unless an Event of Default exists hereunder, the Borrower shall be entitled to possession or use of the Collateral (other than Instruments or Documents, Tangible Chattel Paper, Investment Property consisting of certificated securities and other Collateral required to be delivered to the Bank pursuant to this Section 6ARTICLE 5). The cancellation or surrender of any Note, upon payment or otherwise, shall not affect the right of the Bank to retain the Collateral for any other of the Obligations. The Borrower shall not sell, assign (by operation of law Law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower may sell Inventory in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of business.

Possession and Transfer of Collateral. Unless an Event of Default exists hereunder, the Borrower Borrowers shall be entitled to possession or use of the Collateral (other than Instruments or Documents, Tangible Chattel Paper, Investment Property consisting of certificated securities and other Collateral required to be delivered to the Bank Lender pursuant to this Section 6). The cancellation or surrender of any Note, upon payment or otherwise, shall not affect the right of the Bank Lender to retain the Collateral for any other of the Obligations. The Borrower Borrowers shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower Borrowers may sell Inventory in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of business.

Possession and Transfer of Collateral. Unless an Event of Default exists hereunder, the Borrower Borrowers shall be entitled to possession or use of the Collateral (other than Instruments or Documents, Tangible Chattel Paper, Investment Property consisting of certificated securities and other Collateral required to be delivered to the Bank pursuant to this Section 6). The cancellation or surrender of any Note, upon payment or otherwise, shall not affect the right of the Bank to retain the Collateral for any other of the Obligations. The Borrower Borrowers shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower Borrowers may sell Inventory in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of businessor any Asset Disposition permitted hereunder.

Possession and Transfer of Collateral. Unless Until notice by the Bank after the occurrence and continuation of an Event of Default exists hereunder, the Borrower shall be entitled to possession or use of the Collateral (other than Instruments or Documents, Documents (including Tangible Chattel Paper, Paper and Investment Property consisting of certificated securities securities) and other Collateral required to be delivered to the Bank pursuant to this Section 6). The cancellation or surrender of any Notethe Notes, upon payment or otherwise, shall not affect the right of the Bank to retain the Collateral for any other of the Obligations. The Borrower shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower may sell Inventory in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of business.

Possession and Transfer of Collateral. Unless an Event of Default exists hereunder, the Borrower Borrowers shall be entitled to possession or use of the Collateral (other than Instruments or Documents, Tangible Chattel Paper, Investment Property consisting of certificated securities and other Collateral required to be delivered to the Bank Lender pursuant to this Section 6)Article 8). The cancellation or surrender of any the Note, upon payment or otherwise, shall not affect the right of the Bank Lender to retain the Collateral for any other of obligations secured by the ObligationsCollateral. The Borrower Borrowers shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower Borrowers may sell Inventory in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of businesscreate Permitted FHA Liens.