Additions, Withdrawals and Substitutions of Collateral Sample Clauses

Additions, Withdrawals and Substitutions of Collateral. The Trust shall be entitled to withdraw Collateral on the basis of its being in excess of that required or to substitute Qualified Collateral, but in each case only with the prior written approval of the Bank, which approval shall not be unreasonably withheld. If at any time and for any reason any Collateral on deposit with Bank fails to meet the requirements set forth for Qualified Collateral, Bank may demand a substitution of Qualified Collateral therefor, or addition thereto, which demand shall be complied with within 10 days thereafter by the deposit of Qualified Collateral or payment on the Note in such amount as to place the Trust once again in compliance with the requirements of paragraph 6.9 hereof. If at any time the Pledge Value of Qualified Collateral on deposit with Bank falls below that required by paragraph 6.9 hereof, or if the continued receipt by the Trust of payments due and to become due upon the Qualified Collateral will or might cause the Pledge Value of Qualified Collateral remaining after the receipt of such payments by the Trust to fall below that required by paragraph 6.9 hereof (and the Trust agrees to continuously monitor and review the status of compliance and prospective compliance with paragraph 6.9), then, without notice or demand by Bank, the Trust will, within such time as may be required in order to prevent a violation of paragraph 6.9, at its option, take and perform such one or more of the following actions as may be required to insure the continued compliance with paragraph 6.9: (a) The Trust will (and should it fail to do so, the Bank may) promptly notify both the Bank and the respective payors of amounts scheduled
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Related to Additions, Withdrawals and Substitutions of Collateral

  • Locations of Collateral (a) Properties Owned by the Grantor:

  • Admissions, Withdrawals and Removals (a) No Person may be admitted to the Partnership as an additional General Partner or substitute General Partner without the prior written consent or ratification of Partners whose Vested Percentage Interests exceed 50% of the Vested Percentage Interests of all Partners in the aggregate. A General Partner will not be entitled to Transfer all of its Units or to withdraw from being a General Partner of the Partnership unless another General Partner shall have been admitted hereunder (and not have previously been removed or withdrawn).

  • Limitations on Dispositions of Collateral The Debtor will not sell, transfer, lease, or otherwise dispose of any of the Collateral, or attempt, offer or contract to do so other than dispositions of Inventory in the ordinary course of the Debtor’s business; provided, however that the Debtor will be allowed to grant licenses to its products and related documentation in the ordinary course of business and to establish or provide for escrows of related intellectual property in connection therewith.

  • Maintenance of Collateral Accounts Maintain any Collateral Account except pursuant to the terms of Section 6.6(b) hereof.

  • Allocations of Collections 35 SECTION 10. Payments..................................................................................................47 SECTION 11.

  • Establishment of Collateral Accounts The Custodian hereby confirms and agrees that:

  • Types of Collateral None of the Collateral consists of, or is the Proceeds of, As-Extracted Collateral, Consumer Goods, Farm Products, Manufactured Homes or standing timber.

  • Possession and Use of Collateral Subject to the provisions of the Security Documents, the Issuer and the Guarantors shall have the right to remain in possession and retain exclusive control of and to exercise all rights with respect to the Collateral (other than monies or U.S. government obligations deposited pursuant to Article VIII, and other than as set forth in the Security Documents and this Indenture), to operate, manage, develop, lease, use, consume and enjoy the Collateral (other than monies and U.S. government obligations deposited pursuant to Article VIII and other than as set forth in the Security Documents and this Indenture), to alter or repair any Collateral so long as such alterations and repairs do not impair the creation or perfection of the Lien of the Security Documents thereon, and to collect, receive, use, invest and dispose of the reversions, remainders, interest, rents, lease payments, issues, profits, revenues, proceeds and other income thereof.

  • Compromises and Collection of Collateral The Grantors and the Administrative Agent recognize that setoffs, counterclaims, defenses and other claims may be asserted by obligors with respect to certain of the Receivables, that certain of the Receivables may be or become uncollectible in whole or in part and that the expense and probability of success in litigating a disputed Receivable may exceed the amount that reasonably may be expected to be recovered with respect to a Receivable. In view of the foregoing, each Grantor agrees that the Administrative Agent may at any time and from time to time, if an Event of Default has occurred and is continuing, compromise with the obligor on any Receivable, accept in full payment of any Receivable such amount as the Administrative Agent in its sole discretion shall determine or abandon any Receivable, and any such action by the Administrative Agent shall be commercially reasonable so long as the Administrative Agent acts in good faith based on information known to it at the time it takes any such action.

  • Replacement of Lost Investments In the event of a loss of Investments for which the Custodian is responsible under the terms of this Agreement, the Custodian shall replace such Investment, or in the event that such replacement cannot be effected, the Custodian shall pay to the Fund the fair market value of such Investment based on the last available price as of the close of business in the relevant market on the date that a claim was first made to the Custodian with respect to such loss, or, if less, such other amount as shall be agreed by the parties as the date for settlement.

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