Common use of Location of Offices and Collateral Clause in Contracts

Location of Offices and Collateral. (a) 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 name, its identity or corporate structure without giving the Agent 60 days' prior written notice thereof. (b) All Inventory, other than Inventory in transit to any such location, will at all times be kept by the Borrower at the locations set forth in SCHEDULE 5.1(u) or at other locations as to which the Agent has been given prior notice and the Borrower shall have taken such actions, including the execution and filing of Financing Statements, as the Agent may require to perfect and assure the priority of the Security Interest as required by this Agreement, and shall not, without the prior written consent of the Agent, be removed therefrom except pursuant to sales of Inventory permitted under SECTION 7.7(a). (c) If any Inventory is in the possession or control of any of the Borrower's agents or processors, 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.

Location of Offices and Collateral. (a) The No 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 from the address set forth for it on SCHEDULE 6.1(t) or change its name, its identity or corporate structure from that in effect on the Effective Date, or use any trade name not listed on SCHEDULE 6.1(aa), without giving the Agent 60 30 days' prior written notice thereofthereof accompanied by such evidence as the Agent may reasonably require that all actions required to be taken pursuant to ARTICLE 7 have been taken. (b) All Inventory, other than Inventory in transit to any such location, will at all times be kept by the applicable Borrower at the locations set forth in SCHEDULE 5.1(u) one or at other locations as to which the Agent has been given prior notice and the Borrower shall have taken such actions, including the execution and filing of Financing Statements, as the Agent may require to perfect and assure the priority of the Security Interest as required by this Agreement, more Permitted Inventory Locations and shall not, without the prior written consent of the Agent, be removed therefrom kept elsewhere (except pursuant to as a result of sales of Inventory permitted under SECTION 7.7(a8.7(a)). (c) If any Inventory is in the possession or control of any of the a Borrower's agents or processors, the Borrower Borrowers 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.

Location of Offices and Collateral. (a) The No 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 namename (other than the name change of Parent to NetOptix Corporation on or prior to the Agreement Date, its and the name change of the German Borrower to Opsys GmbH after the Agreement Date, provided the Borrowers provide the Agent prompt written notice of such change in the name of the German Borrower), identity or corporate structure without giving the Agent 60 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 the Borrower Borrowers at one of the locations set forth in SCHEDULE SCHEDULES 5.1(u) or at other locations as to which the Agent has been given prior notice and the Borrower shall have taken such actions5.1(v), including the execution and filing of Financing Statements, as the Agent may require to perfect and assure the priority of the Security Interest as required by this Agreementrespectively, and shall not, without the prior written consent of the Agent, be removed therefrom except pursuant to except, so long as no Event of Default shall have occurred and be continuing, for sales of Inventory and Equipment permitted under SECTION 7.7(a)7.8. (c) If any Inventory is in the possession or control of any of the a Borrower's agents or processors, the 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 account of the LendersAgent, subject to the instructions of the Agent.

Location of Offices and Collateral. (a) 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 name, its identity or corporate structure without giving the Agent 60 days' prior written notice thereof. (b) All Inventory, other than Inventory in transit to a customer or any such location, will at all times be kept by the Borrower at the locations set forth in SCHEDULE 5.1(u5.1(U) or at such other locations location as to which the Agent has been given prior notice and the Borrower all actions required pursuant to SECTION 6.2 shall have been taken such actions, including to the execution and filing of Financing Statements, as the Agent may require to perfect and assure the priority satisfaction of the Security Interest as required by this AgreementAgent, and shall not, without the prior written consent of the Agent, be removed therefrom except pursuant to sales of Inventory permitted under SECTION 7.7(a7.7(A). (c) If any Inventory is in the possession or control of any of the Borrower's agents or processors, the Borrower shall shall, at the Agent's request, 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.