Location of Offices and Collateral. (a) No Borrower will change the location of its chief executive office or the place where it keeps its books and records relating to the Collateral or change its-name, its identity or corporate structure without giving the Agent 45 days' prior written notice thereof. (b) All Inventory, other than Inventory in transit to any such location, will at all times be kept by each Borrower at the locations set forth under its name in Schedule 6.1(u), and shall not be removed therefrom except pursuant to sales of Inventory permitted under Section 8.7(a) without the prior written consent of the Agent, which consent shall not be unreasonably withheld if the location to which such Inventory is to be removed is within the continental United States and all actions required under Section 7.2(b) have been taken by the applicable Borrowers. (c) If any Inventory is in the possession or control of any of a Borrower's agents or processors, such Borrower shall notify such agents or processors of the Security Interest (and shall promptly provide copies of any such notice to the Agent and the Lenders) and, upon the occurrence of an Event of Default, shall instruct them (and cause them to acknowledge such instruction) to hold all such Inventory for the account of the Lenders, subject to the instructions of the Agent.
Appears in 1 contract
Samples: Loan and Security Agreement (Collins Industries Inc)
Location of Offices and Collateral. (a) No The Borrower will not change the location of its chief executive office or the place where it keeps its books and records relating to the Collateral or change its-its name, its identity or corporate structure without giving the Agent 45 30 days' prior written notice thereof.
(b) All Inventory, other than Inventory in transit to any such location, will at all times be kept by each the Borrower at one of the locations set forth under its name in Schedule 6.1(u), SCHEDULE 6.1(U) and shall not be removed therefrom except pursuant to sales of Inventory permitted under Section 8.7(a) not, without the prior written consent of the Agent, which consent shall not be unreasonably withheld if the location to which such Inventory is to or delayed, be removed is within the continental United States therefrom except, so long as no Event of Default shall have occurred and all actions required be continuing, for sales of Inventory permitted under Section 7.2(b) have been taken by the applicable BorrowersSECTION 8.8.
(c) If any Inventory is in the possession or control of any of a the Borrower's agents or processors, such the Borrower shall notify such agents or processors of the Security Interest (and shall promptly provide copies of any such notice to the Agent and the Lenders) and, upon the occurrence of an Event of Default, shall instruct them (and cause them to acknowledge such instruction) to hold all such Inventory for the account of the Agent, for the benefit of the Lenders, subject to the instructions of the Agent.
Appears in 1 contract
Samples: Loan and Security Agreement (Supreme International Corp)
Location of Offices and Collateral. (a) No Borrower will change the location of its chief executive office or the place where it keeps its books and records relating to the Collateral or change its-its name, its identity or corporate structure without giving the Agent 45 30 days' prior written notice thereof.
(b) All Inventory, other than Inventory in transit to any such location, will at all times be kept by each Borrower the Borrowers at one of the locations set forth under its name in Schedule 6.1(u), SCHEDULE 7.1(U) and shall not be removed therefrom except pursuant to sales of Inventory permitted under Section 8.7(a) not, without the prior written consent of the Agent, which consent shall not be unreasonably withheld if the location to which such Inventory is to or delayed, be removed is within the continental United States therefrom except, so long as no Event of Default shall have occurred and all actions required be continuing, for sales of Inventory permitted under Section 7.2(b) have been taken by the applicable BorrowersSECTION 9.8.
(c) If any Inventory is in the possession or control of any of a Borrower's agents or processors, such Borrower shall notify such agents or processors of the Security Interest (and shall promptly provide copies of any such notice to the Agent and the Lenders) and, upon the occurrence of an Event of Default, shall instruct them (and cause them to acknowledge such instruction) to hold all such Inventory for the account of the Agent, for the benefit of the Lenders, subject to the instructions of the Agent.
Appears in 1 contract
Samples: Loan and Security Agreement (Supreme International Corp)
Location of Offices and Collateral. (a) No The Borrower will not change the location of its chief executive office or the place where it keeps its books and records relating to the Collateral or change its-its name, its identity or corporate structure without giving the Collateral Agent 45 days' and the Lenders 30 days prior written notice thereof.
(b) All Inventory, other than Inventory in transit to any such locationlocation or Inventory meeting the terms of clauses (a) and (f) of the definition of Eligible Inventory (as defined in the Senior Loan Agreement), will at all times be kept by each the Borrower at the locations set forth under its name in Schedule 6.1(u7.1(u) (as updated from time to time), and shall not not, without the prior written consent of the Collateral Agent, be removed therefrom except pursuant to sales of Inventory permitted under Section 8.7(a) without the prior written consent of the Agent, which consent shall not be unreasonably withheld if the location to which such Inventory is to be removed is within the continental United States and all actions required under Section 7.2(b) have been taken by the applicable Borrowers9.7(a).
(c) If any Inventory is in the possession or control of any of a the Borrower's agents or processors, such the Borrower shall notify such agents or processors of the Security Interest (and shall promptly provide copies of any such notice to the Collateral Agent and the Lenders) and, upon the occurrence of an Event of Default, shall instruct them (and cause them to acknowledge such instruction) to hold all such Inventory for the account of the Lenders, subject to the instructions of the Collateral Agent.
Appears in 1 contract
Samples: Loan and Security Agreement (Ithaca Industries Inc)
Location of Offices and Collateral. (a) No The Borrower will not change the location of its chief executive office or the place where it keeps its books and records relating to the Collateral or change its-its name, its identity or corporate structure without giving the Agent 45 Lender 30 days' prior written notice thereof.
(b) All Inventory, other than Inventory in transit to any such location, and all Equipment, other than motor vehicles, will at all times be kept by each the Borrower at one of the locations set forth under its name in Schedule 6.1(uSCHEDULES 5.1(u) and 5.1(v), respectively, and shall not be removed therefrom except pursuant to sales of Inventory permitted under Section 8.7(a) not, without the prior written consent of the AgentLender, which consent shall not be unreasonably withheld if the location to which such Inventory is to be removed is within the continental United States therefrom except, so long as no Event of Default shall have occurred and all actions required be continuing, for sales of Inventory permitted under Section 7.2(b) have been taken by the applicable BorrowersSECTION 7.6 and dispositions of Equipment permitted under SECTION 7.8(a).
(c) If any Inventory is in the possession or control of any of a the Borrower's agents or processors, such the Borrower shall notify such agents or processors of the Security Interest (and shall promptly provide copies of any such notice to the Agent and the Lenders) and, upon the occurrence of an Event of Default, shall instruct them (and cause them to acknowledge such instruction) to hold all such Inventory for the account of the LendersLender, subject to the instructions of the AgentLender.
Appears in 1 contract
Samples: Loan and Security Agreement (Airport Systems International Inc)
Location of Offices and Collateral. (a) No The Borrower will not change the location of its chief executive office or the place where it keeps its books and records relating to the Collateral or change its-its name, its identity or corporate structure without giving the Agent 45 days' 30 days prior written notice thereof.
(b) All Inventory, other than Inventory in transit to any such locationlocation or Inventory meeting the terms of clauses (a) and (f) of the definition of Eligible Inventory, will at all times be kept by each the Borrower at the locations set forth under its name in Schedule 6.1(u7.1(u) (as updated from time to time), and shall not not, without the prior written consent of the Agent, be removed therefrom except pursuant to sales of Inventory permitted under Section 8.7(a) without the prior written consent of the Agent, which consent shall not be unreasonably withheld if the location to which such Inventory is to be removed is within the continental United States and all actions required under Section 7.2(b) have been taken by the applicable Borrowers9.7(a).
(c) If any Inventory is in the possession or control of any of a the Borrower's agents or processors, such the Borrower shall notify such agents or processors of the Security Interest (and shall promptly provide copies of any such notice to the Agent and the Lenders) and, upon the occurrence of an Event of Default, shall instruct them (and cause them to acknowledge such instruction) to hold all such Inventory for the account of the account of the Lenders, subject to the instructions of the Agent.
Appears in 1 contract
Samples: Loan and Security Agreement (Ithaca Industries Inc)