Common use of Location of Offices and Collateral Clause in Contracts

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 Administrative 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 a Borrower at the locations set forth in SCHEDULE 7.1(U), and shall not, without the prior written consent of the Administrative Agent, be removed therefrom except pursuant to sales of Inventory permitted under SECTION 9.7(A). (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 Administrative 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 Administrative Agent. (d) After the Effective Date, the Borrowers will not store or otherwise locate any Collateral (other than Inventory) having an aggregate fair market value of more than [$700,000] at the leased facility located at 255 X.X. 00xx Xxxxxx, Xxxxx, Xxxxxxx 00000, xxless and until a new landlord waiver has been executed and delivered by the lessor of such facility, in form and substance satisfactory to the Administrative Agent.

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 Administrative Agent 60 days' days prior written notice thereof. (b) All Inventory, other than Inventory subject to a Lease Agreement, Inventory at an FAA-approved repair facility, and Inventory in transit to any such location, will at all times be kept by a each Borrower at the locations set forth in SCHEDULE 7.1(U6.1(v), and shall not, without the prior written consent of the Administrative Agent, be removed therefrom except pursuant to sales or leases of Inventory permitted under SECTION 9.7(A8.7(a). In the event Inventory with an aggregate Net Book Value greater than $750,000 will be at a location other than one of the locations set forth in SCHEDULE 6.1(v) for more than a 30 day period, the Borrowers shall give the Agent prior written notice thereof, and the Agent shall have the right, at its option, to take such steps as it deems reasonably necessary to protect the Security Interest in such Inventory. (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 Administrative 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 Administrative Agent. (d) After the Effective Date, the Borrowers will not store or otherwise locate any Collateral (other than Inventory) having an aggregate fair market value of more than [$700,000] at the leased facility located at 255 X.X. 00xx Xxxxxx, Xxxxx, Xxxxxxx 00000, xxless and until a new landlord waiver has been executed and delivered by the lessor of such facility, in form and substance satisfactory to the Administrative Agent.

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 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 Administrative Agent 60 30 days' prior written notice thereofthereof accompanied by such evidence as the Administrative 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 a the applicable Borrower at the locations set forth in SCHEDULE 7.1(U), one or more Permitted Inventory Locations and shall not, without the prior written consent of the Administrative Agent, be removed therefrom kept elsewhere (except pursuant to as a result of sales of Inventory permitted under SECTION 9.7(A8.7(A)). (c) If any Inventory is in the possession or control of any of a Borrower's agents or processors, such Borrower the Borrowers shall notify such agents or processors of the Security Interest (and shall promptly provide copies of any such notice to the Administrative 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 Administrative Agent. (d) After the Effective Date, the Borrowers will not store or otherwise locate any Collateral (other than Inventory) having an aggregate fair market value of more than [$700,000] at the leased facility located at 255 X.X. 00xx Xxxxxx, Xxxxx, Xxxxxxx 00000, xxless and until a new landlord waiver has been executed and delivered by the lessor of such facility, in form and substance satisfactory to the Administrative Agent.