Common use of Business and Collateral Locations Clause in Contracts

Business and Collateral Locations. Borrower shall not, or permit any Loan Party to, without Collateral Agent’s prior written consent: (a) add any new offices or business locations, including warehouses unless such new offices or business locations contain less than Two Million Dollars ($2,000,000) in Borrower’s or such Loan Party’s assets or property and are located within the United States, (b) deliver any portion of the Collateral valued, individually or in the aggregate, in excess of Five Hundred Thousand Dollars ($500,000) to a bailee at a location other than to a bailee and at a location already disclosed in the Perfection Certificates, or (c) relocate any assets or property that is in the United States to a location outside of the United States, except as permitted by Sections 6.1, 6.2 or 6.7, (d) relocate any assets or property outside of the United States to a different country unless such relocation is to the United States or is otherwise permitted by Sections 6.1, 6.2 or 6.7. Borrower shall not, or permit any Subsidiary to, without providing Collateral Agent at least thirty (30) days prior written notice: (e) change its jurisdiction of organization, (f) change its organizational structure or type, (g) change its legal name, or (h) change any organizational number (if any) assigned by its jurisdiction of organization. The Collateral and its components shall not be held with any third party bailee in amounts less than Five Hundred Thousand Dollars ($500,000) in order to avoid compliance with the provisions of this Section 6.3 or Section 4.2(b).