Consigned Inventory. Notwithstanding anything to the contrary contained herein or in any other Loan Document, Debtor (a) may maintain Inventory at locations other than those set forth in Schedule 5 (the "Offsite Inventory") and (b) shall not be required to execute UCC-1 Financing Statements for the jurisdictions in which the Offsite Inventory are located, provided, that, the book value of all Offsite Inventory (as defined in each of the respective Amended and Restated Pledge and Security Agreements dated the date hereof executed by Karts International Incorporated and each of its Subsidiaries in favor of Secured Party) of Karts International Incorporated and each of its Subsidiaries does not exceed $50,000 in the aggregate. [The remainder of this page has been intentionally left blank]
Appears in 5 contracts
Samples: Pledge and Security Agreement (Karts International Inc), Pledge and Security Agreement (Karts International Inc), Pledge and Security Agreement (Karts International Inc)
