Common use of Collateral Control Clause in Contracts

Collateral Control. (a) Liquidate or dissolve or permit any of its Subsidiaries to liquidate or dissolve; or (b) subject to its rights under Sections 3.4 and 6.1, remove any items of Collateral from Borrower’s facility located at the addresses set forth in paragraph 4 of the Perfection Certificate, without prior written notice to Bank; provided however, that the foregoing shall not apply to any (i) moveable items of personal property such as laptop computers; (ii) inventory in the possession of Borrower’s customers in the ordinary course of business; (iii) Collateral in transit in the ordinary course of business; (iv) any Collateral maintained with Borrower’s third party logistics providers in the ordinary course of business; and (v) any Collateral that is transferred in accordance with Section 6. 1. If Borrower intends to add any new offices or business locations, including warehouses, containing in excess of One Hundred Thousand Dollars ($100,000) of Borrower’s assets or property, then Borrower will cause the landlord of any such new offices or business locations, including warehouses, to execute and deliver a landlord consent in form and substance satisfactory to Bank. If Borrower intends to deliver any portion of the Collateral valued, individually or in the aggregate, in excess of Five Hundred Thousand Dollars ($500,000) to a bailee, and Bank and such bailee are not already parties to a bailee agreement governing both the Collateral and the location to which Borrower intends to deliver the Collateral, then Borrower will cause such bailee to execute and deliver a bailee agreement in form and substance satisfactory to Bank.

Collateral Control. (a) Liquidate or dissolve or permit any of its Subsidiaries to liquidate or dissolve; or (b) subject Subject to its rights under Sections 3.4 4.4 and 6.17.4, remove any items of Collateral from Borrower’s facility located at the addresses address set forth in paragraph 4 of on the Perfection Certificatecover page hereof or as set forth on the Disclosure Schedule, without prior written notice to BankLenders; provided however, that the foregoing shall not apply to any (i) moveable items of personal property such as laptop computers; , (ii) inventory in the possession of Borrower’s customers in the ordinary course of business; , (iii) Collateral in transit in the ordinary course of business; , (iv) any Collateral maintained with Borrower’s third party logistics providers in the ordinary course of business; business and (v) any Collateral that is transferred in accordance with Section 6. 17.4 of this Agreement. If Borrower intends to add any new offices or business locations, including warehouses, containing in excess of One Hundred Thousand Dollars ($100,000) of Borrower’s assets or property, then Borrower will use commercially reasonable efforts to cause the landlord of any such new offices or business locations, including warehouses, to execute and deliver a landlord consent in form and substance satisfactory to BankCollateral Agent and Lenders. If Borrower intends to deliver any portion of the Collateral valued, individually or in the aggregate, in excess of Five Hundred Thousand Dollars ($500,000) to a bailee, and Bank Collateral Agent and such bailee are not already parties to a bailee agreement governing both the Collateral and the location to which Borrower intends to deliver the Collateral, then Borrower will use commercially reasonable efforts to cause such bailee to execute and deliver a bailee agreement in form and substance satisfactory to BankCollateral Agent and Lenders.