ALTERATIONS; ATTACHMENTS. Other than in conformity with the manufacturer's warranty and/or other functional improvements, no alterations or attachments shall be made to the Collateral without Lender's prior written consent, which shall not be given for changes that will affect the reliability and utility of the Collateral or which cannot be removed without damage to the Collateral, or which in any way affect the value of the Collateral for purposes of resale or lease. All attachments and improvements to the Collateral shall be deemed to be "Collateral" for purposes of the Security Agreement, and a first priority security interest therein shall immediately vest in Lessor.
Appears in 2 contracts
Samples: Senior Loan and Security Agreement (Avanex Corp), Senior Loan and Security Agreement (Avanex Corp)
ALTERATIONS; ATTACHMENTS. Other than in conformity with the manufacturer's warranty and/or other functional improvements, improvements no alterations or attachments shall be made to the Collateral without Lender's prior written consent, which shall not be given for changes that will affect the reliability and utility of the Collateral or which cannot be removed without damage to the Collateral, or which in any way affect the value of the Collateral for purposes of resale or lease. All attachments and improvements to the Collateral shall be deemed to be "Collateral" for purposes of the Security Agreement, and a first priority security interest therein shall immediately vest in Lessor.
Appears in 1 contract
Samples: Senior Loan and Security Agreement (Iown Holdings Inc)
ALTERATIONS; ATTACHMENTS. Other than in conformity with the manufacturer's warranty and/or other functional improvements, no No alterations or attachments shall be made to the Collateral that would materially impair the value or function thereof without Lender's prior written consent, which shall not be given for changes that will adversely affect the reliability and utility of the Collateral or which cannot be removed without damage to the Collateral, or which in any way affect decrease the value of the Collateral for purposes of resale or lease. All attachments and improvements to the Collateral shall be deemed to be "Collateral" for purposes of the Security Agreement, and a first priority security interest therein shall immediately vest in LessorLender.
Appears in 1 contract
Samples: Senior Loan and Security Agreement (Accelerated Networks Inc)