Collateral Impairment. There shall occur with respect to the Collateral any (i) misappropriation, conversion, diversion, or fraud; (ii) levy, seizure, or attachment; or (iii) material loss, theft, or damage, and such impairment is not cured to the reasonable satisfaction of Secured Party within ten (10) days of written notice by Secured Party to Debtor.
Appears in 3 contracts
Sources: Loan and Security Agreement (Napco Security Systems Inc), Loan and Security Agreement (Napco Security Systems Inc), Loan and Security Agreement (Napco Security Systems Inc)