Disposition of the Collateral. If disposition of any Collateral gives rise to an account, chattel paper or instrument, Debtor immediately shall notify Lender, and upon request of Lender shall assign or indorse the same to Lender. No Collateral may be sold, leased, manufactured, processed or otherwise disposed of by Debtor in any manner without the prior written consent of Lender, except: (1) the Collateral sold, leased, manufactured, processed or consumed in the ordinary course of business, and (2) dispositions of Collateral that is obsolete or no longer used in Debtor's business.
Appears in 5 contracts
Samples: Security Agreement (Frisby Technologies Inc), Security Agreement (Frisby Technologies Inc), Security Agreement (Frisby Technologies Inc)
