Common use of Liens; No Disposition of Collateral Clause in Contracts

Liens; No Disposition of Collateral. Borrower shall not (i) in any way hypothecate or create or permit to exist any Lien with respect to any of its or its Subsidiaries’ property, except for Permitted Liens, (ii) permit the inclusion in any contract to which it or a Subsidiary becomes a party of any provisions that could restrict or invalidate the creation of a security interest in any of Borrower’s or such Subsidiary’s property, or (iii) sell, transfer, assign, pledge, collaterally assign, exchange, or otherwise dispose of (collectively, a “Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its business or property, other than Transfers: (A) of Inventory in the ordinary course of business, (B) of non-exclusive licenses and similar arrangements for the use of the property of Borrower or its Subsidiaries in the ordinary course of business, (C) of worn-out or obsolete Equipment, (D) of other assets not to exceed $250,000 in aggregate during any calendar year, or (E) in connection with Permitted Liens and Permitted Investments.

Liens; No Disposition of Collateral. Borrower shall not (i) in any way hypothecate or create or permit to exist any Lien with respect to any of its or its Subsidiaries’ property, except for Permitted Liens, (ii) permit the inclusion in any contract to which it or a Subsidiary becomes a party of any provisions that could restrict or invalidate the creation of a security interest in any of Borrower’s or such Subsidiary’s property, or (iii) sell, transfer, assign, pledge, collaterally assign, exchange, or otherwise dispose of (collectively, a “Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its business or property, other than Transfers: (A) of Inventory in the ordinary course of business, (B) of non-exclusive licenses and similar arrangements for the use of the property of Borrower or its Subsidiaries in the ordinary course of business, (C) of worn-out or obsolete Equipment, or (D) of other assets by Borrower to its Subsidiaries in an aggregate amount not to exceed $250,000 in aggregate during any calendar year, or (E) in connection with Permitted Liens and Permitted Investments100,000 on an annual basis.

Liens; No Disposition of Collateral. Borrower shall not (i) in any way hypothecate or create or permit to exist any Lien with respect to any of its or its Subsidiaries’ property, except for Permitted Liens, (ii) permit the inclusion in any contract to which it or a Subsidiary becomes a party of any provisions that could restrict or invalidate the creation of a security interest in any of Borrower’s or such Subsidiary’s property, or (iii) sell, transfer, assign, pledge, collaterally assign, exchange, or otherwise dispose of (collectively, a “Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its business or property, other than Transfers: (A) of Inventory in the ordinary course of business, (B) of non-exclusive licenses and similar arrangements for the use of the property of Borrower or its Subsidiaries in the ordinary course of business, (C) of exclusive licenses in specific fields of use that are not related to Borrower’s primary business; (D)of worn-out or obsolete Equipment, or (DE) of other assets by Borrower in an aggregate amount not to exceed $250,000 in aggregate during any calendar year, or (E) in connection with Permitted Liens and Permitted Investments50,000 on an annual basis.

Liens; No Disposition of Collateral. Borrower shall not (i) in any way hypothecate or create or permit to exist any Lien with respect to any of its or its Subsidiaries’ property, except for Permitted Liens, (ii) permit the inclusion in any contract to which it or a Subsidiary becomes a party of any provisions that could restrict or invalidate the creation of a security interest in any of Borrower’s or such Subsidiary’s property, or (iii) sell, transfer, assign, pledge, collaterally assign, exchange, or otherwise dispose of (collectively, a “Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its business or property, other than Transfers: (A) of Inventory in the ordinary course of business, (B) of non-exclusive licenses and similar arrangements for the manufacture, sale or use of the property of Borrower or its Subsidiaries in the ordinary course of business, (C) of exclusive licenses and similar arrangements for the use, manufacture or sale of the property of Borrower in a specific field or geography, or (D) worn-out or obsolete Equipment, (D) of other assets not to exceed $250,000 in aggregate during any calendar year, or (E) in connection with Permitted Liens and Permitted Investments.