Common use of Use of Inventory Clause in Contracts

Use of Inventory. Unless and until the privilege of Debtor to dispose ---------------- of inventory in the ordinary course of Debtor's business is revoked by Secured Party upon the occurrence and during the continuance of an Event of Default, Debtor may use and dispose of inventory in any manner not inconsistent with this Agreement, may sell that part of the Collateral consisting of inventory provided that all such sales are in the ordinary course of business, and may use and consume any raw materials or supplies that are necessary in order to carry on Debtor's business. A sale in the ordinary course of business does not include a transfer in partial or total satisfaction of a debt.

Appears in 3 contracts

Samples: Commercial Security Agreement (Visual Numerics Inc), Commercial Security Agreement (Visual Numerics Inc), Commercial Security Agreement (Visual Numerics Inc)

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Use of Inventory. Unless and until the privilege of Debtor to dispose ---------------- of use inventory in the ordinary course of Debtor's business is revoked by Secured Party upon the occurrence and during the continuance of an Event event of Defaultdefault, Debtor may use and dispose of the inventory in any manner not inconsistent with this Agreement, may sell or lease that part of the Collateral consisting of inventory provided that all such sales and leases are in the ordinary course of business, and may use and consume any raw materials or supplies that are necessary in order to carry on Debtor's business. A sale in the ordinary course of business does not include a transfer in partial or total satisfaction of a debt.

Appears in 1 contract

Samples: Subsidiary Commercial Security Agreement (Dailey Petroleum Services Corp)

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Use of Inventory. Unless and until the privilege of Debtor to dispose ---------------- of use inventory in the ordinary course of Debtor's business is revoked by Secured Party upon the occurrence and during the continuance of an any Default or Event of Default, Debtor may use and dispose of the inventory in any manner not inconsistent with this Security Agreement, may sell that part of the Collateral consisting of inventory Inventory provided that all such sales are in the ordinary course of business, and may use and consume any raw materials or supplies that are necessary in order to carry on Debtor's business. A sale in the ordinary course of business does not include a transfer in partial or total satisfaction of a debt. 3.

Appears in 1 contract

Samples: Credit Agreement (Giant Industries Inc)

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