Common use of Location of Offices and Collateral Clause in Contracts

Location of Offices and Collateral. (a) 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 Agent sixty (60) days' prior written notice thereof. (b) All Inventory, other than Inventory in transit, will at all times be kept by Borrower at the locations set forth in Schedule 8.1(v), and shall not, without the prior written consent of Agent, be removed therefrom except pursuant to sales of Inventory permitted under Section 10.7(a). (c) If any Inventory is in the possession or control of any of Borrower's agents or processors, Borrower shall notify such agents or processors of the Security Interest (and shall promptly provide copies of any such notice to 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 Agent.

Appears in 1 contract

Samples: Loan and Security Agreement (Gni Group Inc /De/)

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Location of Offices and Collateral. (a) 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 name, its identity or corporate structure without giving Agent sixty (60) days' prior written notice thereof.to (b) All Inventory, other than Inventory in transittransit to any such location, and all Equipment, other than motor vehicles, will at all times be kept by Borrower the Borrowers at one of the locations set forth in Schedule 8.1(vSCHEDULES 5.1(u) and 5.1(v), respectively, and shall not, without the prior written consent of Agentthe Lender, be removed therefrom except pursuant to except, so long as no Event of Default shall have occurred and be continuing, for sales of Inventory permitted under Section 10.7(a)SECTION 7.8. (c) If any Inventory is in the possession or control of any of any 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 Agent and the Lenders) and, upon the occurrence of an Event of Default, Default and 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 Agentthe Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Denali Inc)

Location of Offices and Collateral. (a) 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 name, its identity or corporate structure structure, or its jurisdiction of organization without giving the Administrative Agent sixty (60) 30 days' prior written notice thereof. (b) All Inventory, other than Inventory in transittransit to any such location, will at all times be kept by a Borrower at the locations set forth in Schedule 8.1(vSCHEDULE 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 10.7(aSECTION 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.

Appears in 1 contract

Samples: Loan and Security Agreement (Russell Corp)

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Location of Offices and Collateral. (a) 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 identity, jurisdiction of organization or corporate structure without giving Agent sixty (60) Lender 30 days' prior written notice thereof. (b) All Inventory, other than Inventory in transittransit to any such location, will at all times be kept by Borrower at one of the locations set forth in Schedule 8.1(v5.1(x), and shall not, without the prior written consent of AgentLender, be removed therefrom except pursuant to except, so long as no Event of Default shall have occurred and be continuing, for sales of Inventory permitted under Section 10.7(a)in the ordinary course of business. (c) If any Inventory is in the possession or control of any of Borrower's agents or processors, Borrower shall notify such agents or processors of the Security Interest (and shall promptly provide copies of any such notice to 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 AgentLender.

Appears in 1 contract

Samples: Loan and Security Agreement (Centennial Specialty Foods Corp)

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