Collateral Maintenance Requirement. 3.3.1 Customer will at all times maintain an amount of Eligible Collateral, pledged to Seattle Bank under this Agreement, which, after discounting by the Collateral Coverage Factor(s) applicable to such Eligible Collateral, has a value, as determined by Seattle Bank, of not less than the aggregate amount of all Advances, Commitments and Other Credit Accommodations then outstanding. This Collateral Maintenance Requirement may be increased or decreased by Seattle Bank at any time, based upon Customer’s creditworthiness or the quality of Customer’s Eligible Collateral, as determined by Seattle Bank from time to time. Customer will not, without prior written consent of Seattle Bank, assign, pledge, transfer, create any security interest in, sell, or otherwise dispose of any Eligible Collateral if: (i) such Eligible Collateral is Physical Possession Collateral under Section 3.5 of this Agreement; (ii) immediately after such action, Customer’s remaining Eligible Collateral would be insufficient to comply with the Collateral Maintenance Requirement; or (iii) at the time of such action, there is an outstanding Event of Default under Section 4.1 of this Agreement.
Collateral Maintenance Requirement. (A) The Member shall at all times maintain as Collateral an amount of Qualifying Collateral which has a Lendable Collateral Value that is at least equal to the then current required Collateral Maintenance Level. The Member shall not assign, pledge, transfer, create any security interest in, sell, or otherwise dispose of any Collateral if: (i) such Collateral has been specified or identified pursuant to Section 3.05 hereof or is held by or on behalf of the Bank pursuant to Section 3.06 hereof, or the Bank has otherwise perfected its security interest in such Collateral; or (ii) at the time of or immediately after such action, the Member is not or would not be in compliance with the collateral maintenance requirements of the first sentence of this Section 3.04 (A) or is otherwise in default under this Agreement.
Collateral Maintenance Requirement. (A) The Obligors shall at all times maintain Qualifying Collateral which has a Lendable Collateral Value that is at least equal to the Collateral Maintenance Level. At any time the Obligors fail to maintain such Qualifying Collateral, as reasonably determined by the Bank, in addition to any other remedies of the Bank under this Agreement, the Obligors agree to assign, transfer and pledge, and grant to the Bank a security interest in, such additional amounts of Collateral as may be deemed necessary by the Bank for its protection in accordance with Section 10(d) of the Act.
Collateral Maintenance Requirement. (a) The Member shall at all times maintain as Collateral an amount of Qualifying Collateral which has a Lendable Collateral Value that is at least equal to the then current required Collateral Maintenance Level. The Member shall not assign, pledge, transfer, create any security interest in, sell, or otherwise dispose of any Collateral, nor shall the Member foreclose any First Mortgage Collateral without the prior written consent of the Bank if: (1) such Collateral has been specified or identified pursuant to Section 3.03 hereof or has been delivered to and is held by or on behalf of the Bank pursuant to Section 3.04 hereof, or the Bank has otherwise perfected its security interest in such Collateral; or (2) at the time of or immediately after such action, the Member is not or would not be in compliance with the collateral maintenance requirements of the first sentence of this Section 3.02(a) or is or would otherwise be in default under this Agreement.
Collateral Maintenance Requirement. (A) The Obligors shall at all times maintain Qualifying Collateral which has a Lendable Collateral Value that is at least equal to the Collateral Maintenance Level. In addition, the Obligors agree to maintain such additional amounts of Collateral as may be required by the Bank in order to protect the Bank’s security position with respect to the outstanding Liabilities of the Obligors to the Bank.
Collateral Maintenance Requirement. (A) The Member shall at all times maintain as Collateral an amount of Qualifying Collateral which has a Lendable Collateral Value that is at least equal to the then current required Collateral Maintenance Level. In addition, the Member agrees to maintain such additional amounts of Collateral (which may be Collateral that is not Qualifying Collateral) as may be required by the Bank in order to protect its security position with respect to outstanding indebtedness. The Member shall not assign, pledge, transfer, create any security interest in, sell, or otherwise dispose of any Collateral without the express written consent of the Bank.
Collateral Maintenance Requirement. (a) The Member shall at all times maintain as Collateral an amount of Qualifying Collateral which has a Fair Market Value that is at least equal to the then current Collateral Maintenance Level. The Member shall not assign, pledge, transfer, create any security interest in, sell, or otherwise dispose of any Collateral if such Collateral is held by or on behalf of the Bank pursuant to Section 3.04 hereof, or the Bank has otherwise perfected its security interest in such Collateral, or at the time of or immediately after such action, Member is not or would not be in compliance with the collateral maintenance requirements of the first sentence of this Section 3.03(a) or is or would be otherwise in default under this Master Agreement.
Collateral Maintenance Requirement. (1) The Member will at all times have pledged to the Bank Eligible Collateral that has a Borrowing Capacity at least equal to the Member’s then current Collateral Maintenance Level. In the event the aggregate Borrowing Capacity of the Member’s Eligible Collateral decreases below the Member’s then current Collateral Maintenance Level, the Member will promptly notify the Bank and pledge to the Bank such additional amounts of Eligible Collateral as are necessary to satisfy the Member’s then current Collateral Maintenance Level. If at any time any Eligible Collateral ceases to be Eligible Collateral as determined by the Bank in its sole discretion, the Member will promptly grant a security interest to the Bank in additional or substitute Eligible Collateral as necessary to meet the Member’s then current Collateral Maintenance Level. Notwithstanding the foregoing, the Bank may elect to exercise its rights under Section VII.A. at any time the aggregate Borrowing Capacity of the Member’s Eligible Collateral is below the Member’s then current Collateral Maintenance Level.
Collateral Maintenance Requirement. Dealer shall comply with the Collateral Maintenance requirement as set forth in the Schedule.
Collateral Maintenance Requirement. The Collateral Deficit shall at no time exceed Seven Million Five Hundred Thousand ($7,500,000) Dollars; provided, however that if Dealer's borrowing availability from Dealer's Primary Lender under the Primary Loan Agreement is less than One Hundred Seventy-Five Million ($175,000,000) Dollars, no Collateral Deficit shall be permitted to exist. In the event that the Dealer's Primary Loan Agreement is replaced, amended or modified, FINOVA and the Dealer agree to enter into negotiations with the desired objective that such provisions be adjusted or otherwise modified to fairly take into account any such change. If no agreement can be reached either party reserves their right to terminate the Agreement. ================================================================================ DISBURSEMENT (SECTION 9.11): All Advances to be made hereunder shall be made for the account of Dealer directly to Compaq Computer Corporation in accordance with the payment terms of the invoices submitted to FINOVA to Dealer.
