Common use of Use and Disposition of Collateral Clause in Contracts

Use and Disposition of Collateral. The Pledgor shall not (i) make or permit to be made an assignment, pledge or hypothecation of the Collateral, and shall grant no other security interest in the Collateral (other than pursuant to the Loan Documents and except for any Permitted Liens), or (ii) make or permit to be made any transfer of the Collateral, and shall remain at all times in possession of the Collateral other than transfers to the Agent pursuant to the provisions of this Agreement; provided, however, that notwithstanding the foregoing, the Pledgor may use and dispose of the Collateral in any lawful manner not in violation of the provisions of this Agreement, the Credit Agreement or any other Loan Document unless the Collateral Agent shall, after an Event of Default has occurred and during the continuance thereof, notify the Pledgor not to sell, convey, lease, assign, transfer or otherwise dispose of any Collateral.

Use and Disposition of Collateral. The Pledgor Borrower shall not (i) make or permit to be made an assignment, pledge or hypothecation of the Collateral, and shall grant no other security interest in the Collateral (other than pursuant to the Loan Documents and except for any Permitted Liens), or (ii) make or permit to be made any transfer of the Collateral, and shall remain at all times in possession of the Collateral other than transfers to the Agent pursuant to the provisions of this Agreement; provided, however, that notwithstanding the foregoing, the Pledgor Borrower may use and dispose of the Collateral in any lawful manner not in violation of the provisions of this Agreement, the Credit Agreement or any other Loan Document unless the Collateral Agent shall, after an Event of Default has occurred and during the continuance thereof, notify the Pledgor Borrower not to sell, convey, lease, assign, transfer or otherwise dispose of any Collateral.

Use and Disposition of Collateral. The Pledgor Guarantors Borrower shall not (i) make or permit to be made an assignment, pledge or hypothecation of the Collateral, and shall grant no other security interest in the Collateral (other than pursuant to the Loan Documents and except for any Permitted LiensEncumbrances), or (ii) make or permit to be made any transfer of the Collateral, and shall remain at all times in possession of the Collateral other than transfers to the Agent Lender pursuant to the provisions of this Agreement; provided, however, that notwithstanding the foregoing, the Pledgor Borrower may use and dispose of the Collateral in any lawful manner not in violation of the provisions of this Agreement, the Credit Financing Agreement or any other Loan Document unless the Collateral Agent Lender shall, after an Event of Default has occurred and during the continuance thereof, notify the Pledgor Guarantor not to sell, convey, lease, assign, transfer or otherwise dispose of any Collateral.