Common use of Preservation of Collateral Clause in Contracts

Preservation of Collateral. FINOVA may, in its Permitted Discretion, at any time discharge any lien or encumbrance on the Collateral or bond the same, pay any insurance, maintain guards, pay any service bureau, obtain any record or take any other action to preserve the Collateral and charge the cost thereof to Borrower's loan account as an Obligation.

Appears in 11 contracts

Samples: Loan and Security Agreement (Javelin Systems Inc), Loan and Security Agreement (Community Medical Transport Inc), Loan and Security Agreement (Medley Credit Acceptance Corp)

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Preservation of Collateral. FINOVA may, in its Permitted Discretion, at any time discharge any lien or encumbrance on the Collateral or bond the same, pay any insurance, maintain guards, pay any service bureau, obtain any record or take any other action to preserve the Collateral and charge the cost thereof to the applicable Borrower's loan account as an Obligation.

Appears in 2 contracts

Samples: Loan and Security Agreement (Digital Solutions Inc), Loan and Security Agreement (Digital Solutions Inc)

Preservation of Collateral. FINOVA may, in its Permitted Discretionsole discretion, at any time discharge any lien or encumbrance on the Collateral or bond the same, pay any insurance, maintain guards, pay any service bureau, obtain any record or take any other action to preserve the Collateral and charge the cost thereof to Borrower's loan account as an Obligation.

Appears in 2 contracts

Samples: Loan and Security Agreement (Performance Printing Corp), Loan and Security Agreement (Praegitzer Industries Inc)

Preservation of Collateral. FINOVA may, in its Permitted Discretionsole discretion, at any time discharge any lien or encumbrance on the Collateral which is not a Permitted Encumbrance or bond the same, pay any insurance, maintain guards, pay any service bureau, obtain any record or take any other action to preserve the Collateral and charge the cost thereof to Borrower's loan account as an Obligation.

Appears in 1 contract

Samples: Loan and Security Agreement (Intellicall Inc)

Preservation of Collateral. FINOVA may, in its Permitted Discretion, at any time discharge any lien or encumbrance on the Collateral or bond the same, pay any insurance, maintain guards, pay any service bureau, obtain any record or take any other action to preserve the Collateral and charge the cost thereof to Borrower's loan account as an Obligation.. --------------------------

Appears in 1 contract

Samples: Finova Loan and Security Agreement (Play Co Toys & Entertainment Corp)

Preservation of Collateral. FINOVA may, in its Permitted Discretion, at any time discharge any lien or encumbrance on the Collateral or bond the same, pay any insurance, maintain guards, pay any service bureau, obtain any record or take any other action to preserve the Collateral and charge the cost thereof to Borrower's loan account as an Obligation; provided, however, that unless an Event of Default has occurred and is continuing, FINOVA shall provide Borrower with five (5) days advance notice of its intention to take any such action.

Appears in 1 contract

Samples: Loan and Security Agreement (1 800 Autotow Inc)

Preservation of Collateral. FINOVA may, in its Permitted DiscretionDiscretion and upon notice to Borrower, at any time discharge any lien or encumbrance on the Collateral or bond the same, pay any insurance, maintain guards, pay any service bureau, obtain any record or take any other action to preserve the Collateral and charge the cost thereof to Borrower's loan account as an Obligation.

Appears in 1 contract

Samples: Loan and Security Agreement (Fresh Choice Inc)

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Preservation of Collateral. FINOVA may, in its Permitted Discretion, -------------------------- at any time discharge any lien or encumbrance on the Collateral or bond the same, pay any insurance, maintain guards, pay any service bureau, obtain any record or take any other action to preserve the Collateral and charge the cost thereof to Borrower's loan account as an Obligation.

Appears in 1 contract

Samples: Finova Loan and Security Agreement (Utilx Corp)

Preservation of Collateral. FINOVA may, in its Permitted Discretionsole discretion, at any time -------------------------- after FINOVA has requested the Borrower take any of the following action(s) and Borrower has failed to do so, discharge any lien or encumbrance on the Collateral or bond the same, pay any insurance, maintain guards, pay any service bureau, obtain any record or take in any other action to preserve the Collateral and charge the cost thereof to Borrower's loan account as an Obligation.

Appears in 1 contract

Samples: Loan and Security Agreement (Cumetrix Data Systems Corp)

Preservation of Collateral. FINOVA may, in its Permitted Discretion, at any time discharge any lien or encumbrance on the Collateral or bond the same, pay any insurance, maintain guards, pay any service bureau, obtain any record or take any other action to preserve the Collateral and charge the cost thereof to Borrower's Borrowers loan account as an Obligation. 3.4.

Appears in 1 contract

Samples: Loan and Security Agreement (Diamond Multimedia Systems Inc)

Preservation of Collateral. FINOVA may, in its Permitted Discretionsole discretion, at any time -------------------------- discharge any lien or encumbrance on the Collateral or bond the same, pay any insurance, maintain guards, pay any service bureau, obtain any record or take any other action to preserve the Collateral and charge the cost thereof to Borrower's loan account as an Obligation.

Appears in 1 contract

Samples: Loan and Security Agreement (Avery Communications Inc)

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