Common use of Disposition of Collateral Clause in Contracts

Disposition of Collateral. The Debtor shall not sell, license, lease, transfer or otherwise dispose of any of the Collateral without the prior written consent of the Secured Party, except for sales of inventory, collection of rights to payment, and disposition of equipment or inventory which is obsolete or being replaced, all in the ordinary course of business in accordance with past practices.

Appears in 6 contracts

Samples: Security Agreement (Icm Asset Management Inc/Wa), Security Agreement (Icm Asset Management Inc/Wa), Security Agreement (Aura Systems Inc)

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Disposition of Collateral. The Except as expressly permitted by the terms of the Credit Agreement, Debtor shall not sell, license, lease, transfer assign (by operation of law or otherwise) or otherwise dispose of of, or grant any of option with respect to, the Collateral or any part thereof without the prior written consent of the Secured Party, except for sales of inventory, collection of rights to payment, and disposition of equipment or inventory which is obsolete or being replaced, all in the ordinary course of business in accordance with past practices.

Appears in 5 contracts

Samples: Pledge and Security Agreement (Savvis Communications Corp), Pledge and Security Agreement (Savvis Communications Corp), Credit Agreement (Old America Stores Inc)

Disposition of Collateral. The Except as expressly permitted by the terms of the Restated Lease Agreement, Debtor shall not sell, license, lease, transfer assign (by operation of law or otherwise) or otherwise dispose of of, or grant any of option with respect to, the Collateral or any part thereof without the prior written consent of the Secured Party, except for sales of inventory, collection of rights to payment, and disposition of equipment or inventory which is obsolete or being replaced, all in the ordinary course of business in accordance with past practices.

Appears in 5 contracts

Samples: Security Agreement (Savvis Communications Corp), Security Agreement (Savvis Communications Corp), Security Agreement (Savvis Communications Corp)

Disposition of Collateral. The Except as expressly permitted by the terms of the Loan Agreement, Debtor shall not sell, license, lease, transfer assign (by operation of law or otherwise) or otherwise dispose of of, or grant any of option with respect to, the Collateral or any part thereof without the prior written consent of the Secured Party, except for sales of inventory, collection of rights to payment, and disposition of equipment or inventory which is obsolete or being replaced, all in the ordinary course of business in accordance with past practices.

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)

Disposition of Collateral. The Except for sales of inventory or equipment in the ordinary course of Debtor's business, Debtor shall will not sell, license, lease, transfer exchange or otherwise dispose of any of the Collateral Collateral, or any rights thereto, without the having obtained Secured Party's prior written consent of the Secured Party, except for sales of inventory, collection of rights to payment, and disposition of equipment or inventory which is obsolete or being replaced, all in the ordinary course of business in accordance with past practiceseach instance.

Appears in 2 contracts

Samples: Loan Agreement (Smith & Wollensky Restaurant Group Inc), Loan Agreement (New York Restaurant Group Inc)

Disposition of Collateral. The Debtor shall not sell, license, lease, transfer or otherwise dispose of any of the Collateral or any part thereof without the prior written consent of the Secured Party, except for sales of inventory, collection of rights to payment, and disposition of equipment or Debtor may sell inventory which is obsolete or being replaced, all in the ordinary course of business in accordance with past practicesbusiness.

Appears in 2 contracts

Samples: Security Agreement (Remote Knowledge Inc), Security Agreement (Remote Knowledge Inc)

Disposition of Collateral. The Debtor Debtors shall not sell, licensetransfer, lease, transfer encumber or otherwise dispose of any portion of the Collateral without the prior written consent of the Secured PartyLender (and no such consent shall be implied, from any other action, inaction or acquiescence by Lender or an order of this Court), except for sales of inventory, collection of rights to payment, and disposition of equipment or inventory which is obsolete or being replaced, all the Debtors’ Inventory (as defined in the Security Agreement) in the ordinary course of business their businesses or except as otherwise provided for in accordance with past practicesthe DIP Loan Documents.

Appears in 1 contract

Samples: Secured Promissory Note (Xybernaut Corp)

Disposition of Collateral. The Except as expressly permitted ------------------------- by the terms of the Credit Agreement, Debtor shall not sell, licenselease, leaseassign by operation of law or otherwise, transfer or otherwise dispose of of, or grant any of option with respect to, the Collateral or any part thereof without the prior written consent of the Secured Party, except for sales of inventory, collection of rights to payment, and disposition of equipment or inventory which is obsolete or being replaced, all in the ordinary course of business in accordance with past practices.

Appears in 1 contract

Samples: Security Agreement (Cais Internet Inc)

Disposition of Collateral. The Debtor shall not sell, license, lease, transfer assign (by operation of law or otherwise), or otherwise dispose of of, or grant any of option with respect to, the Collateral or any part thereof without the prior written consent of the Secured Party, except for sales of inventory, collection of rights to payment, and disposition of equipment or Debtor may sell its inventory which is obsolete or being replaced, all in the ordinary course of business in accordance with past practicesbusiness.

Appears in 1 contract

Samples: Security Agreement (Sielox Inc)

Disposition of Collateral. The Debtor shall not sell, license, lease, transfer assign (by operation of law or otherwise), or otherwise dispose of of, or grant any of option with respect to, the Collateral or any part thereof without the prior written consent of the Secured Party, except for sales of inventory, collection of rights to payment, and disposition of equipment or inventory which is obsolete or being replaced, all dispositions in the ordinary course of business in accordance with past practicesbusiness.

Appears in 1 contract

Samples: Hospital Lease (Iasis Healthcare Corp)

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Disposition of Collateral. The Debtor shall not sell, license, lease, transfer or otherwise dispose of any of the Collateral without the prior written consent of the Secured Party, except for sales of inventory, collection of rights to payment, and disposition of equipment or inventory which is obsolete or being replaced, all in the ordinary course of business in accordance with past practices.

Appears in 1 contract

Samples: Security Agreement (Globetech Environmental, Inc.)

Disposition of Collateral. The Debtor shall not sell, license, lease, transfer ------------------------- or otherwise dispose of any of the Collateral or any part thereof without the prior written consent of the Secured Party, except for sales of Debtor may sell inventory, collection of rights to payment, equipment and disposition of equipment or inventory which is obsolete or being replaced, all other assets in the ordinary course of business in accordance with past practicesDebtor's business.

Appears in 1 contract

Samples: Security Agreement (Pro Squared Inc)

Disposition of Collateral. The Debtor shall not sell, license, lease, transfer lease ------------------------- or otherwise dispose of any of the Collateral or any part thereof without the prior written consent of the Secured Party, except for sales of Debtor may sell inventory, collection of rights to payment, equipment and disposition of equipment or inventory which is obsolete or being replaced, all other assets in the ordinary course of business in accordance with past practicesDebtor's business.

Appears in 1 contract

Samples: Security Agreement (Pro Squared Inc)

Disposition of Collateral. The Debtor shall not sell, license, lease, transfer or otherwise dispose of any of the Collateral or any part thereof without the prior written consent of the Secured Party, except for sales (a) in accordance with Section 12.3(c) of inventory, collection of rights to paymentthe Credit Agreement, and disposition (b) Debtor may sell or otherwise dispose of equipment or inventory which is obsolete or being replaced, all in the ordinary course of business in accordance with past practicesbusiness.

Appears in 1 contract

Samples: Credit Agreement (Forum Oilfield Technologies Inc)

Disposition of Collateral. The Debtor shall not sell, license, lease, transfer or otherwise dispose of any of the Collateral or any part thereof without the prior written consent of the Secured Party, except for sales of inventory, collection of rights to payment, Debtor may sell inventory and disposition of equipment or inventory which is obsolete or being replaced, all in the ordinary course of business in accordance with past practicesbusiness.

Appears in 1 contract

Samples: Credit Agreement (Craftmade International Inc)

Disposition of Collateral. The Debtor shall not sell, license, lease, transfer assign (by operation of law or otherwise) or otherwise dispose of of, or grant any of option with respect to, the Collateral or any part thereof without the prior written consent of the Secured Party, except for sales of inventory, collection of rights to payment, and disposition of equipment or inventory which is obsolete or being replaced, all in the ordinary course of business in accordance with past practiceswill not be unreasonably withheld.

Appears in 1 contract

Samples: Network Products Purchase Agreement (MGC Communications Inc)

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