Common use of Modification of Collateral Clause in Contracts

Modification of Collateral. Debtor shall do nothing to impair the rights of Secured Parties in the Collateral. Without the prior written consent of Collateral Agent, Debtor shall not grant any extension of time for any payment with respect to the Collateral, or compromise, compound, or settle any of the Collateral, or release in whole or in part any person or entity liable for payment with respect to the Collateral, or allow any credit or discount for payment with respect to the Collateral other than normal trade discounts granted in the ordinary course of business, or release any lien, security interest, or assignment securing the Collateral, or otherwise amend or modify any of the Collateral.

Appears in 3 contracts

Samples: Security Agreement (Probex Corp), Security Agreement (Probex Corp), Security Agreement (Probex Corp)

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Modification of Collateral. Except as contemplated by Section 4.14, Debtor shall do nothing to not impair the rights of Secured Parties Party in the Collateral. Without Collateral and without the prior written consent of Collateral AgentSecured Party, Debtor shall not grant any extension of time time, for any payment with respect to the Collateral, or compromise, compound, or settle any of the Collateral, or release in whole or in part any person or entity liable for payment with respect to the Collateral, or allow any credit or discount for payment with respect to the Collateral other than normal trade discounts granted in the ordinary course of business, or release any lien, security interest, or assignment securing the Collateral, or otherwise amend or modify any of the Collateral.

Appears in 1 contract

Samples: Stock Pledge Agreement (Craftmade International Inc)

Modification of Collateral. Debtor shall do nothing to impair the rights of the Secured Parties in the Collateral. Without the prior written consent of Collateral Agentthe Secured Parties, Debtor shall not grant any extension of time for any payment with respect to the Collateral, or compromise, compound, or settle any of the Collateral, or release in whole or in part any person or entity liable for payment with respect to the Collateral, or allow any credit or discount for payment with respect to the Collateral Collateral, other than normal trade discounts granted in the ordinary course of business, or release any lien, security interest, or assignment securing the Collateral, or otherwise amend or modify any of the Collateral.

Appears in 1 contract

Samples: Intercreditor and Security Agreement (Probex Corp)

Modification of Collateral. Debtor shall not do nothing anything to materially impair the Lender's rights of Secured Parties in the Collateral. Without the prior written consent of Collateral AgentLender, Debtor shall not grant any extension of time for any payment with respect to the Collateral, or compromise, compound, or settle any of the Collateral, or release in whole or in part any person or entity liable for payment with respect to the Collateral, or allow any credit or discount for payment with respect to the Collateral other than normal trade discounts granted in the ordinary course of business, or release any lien, security interest, or assignment securing the Collateral, or otherwise amend or modify any of the Collateral.

Appears in 1 contract

Samples: Loan Agreement (Coolbrands International Inc)

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Modification of Collateral. Debtor shall do nothing to impair the rights of the Secured Parties in the Collateral. Without the prior written consent of Collateral Agentthe Secured Parties, Debtor shall not grant any extension of time for any payment with respect to the Collateral, or compromise, compound, or settle any of the Collateral, or release in whole or in part any person or entity liable for payment with respect to the Collateral, or allow any credit or discount for payment with respect to the Collateral other than normal trade discounts granted in the ordinary course of business, or release any lien, security interest, or assignment securing the Collateral, or otherwise amend or modify any of the Collateral.

Appears in 1 contract

Samples: Intercreditor and Security Agreement (Probex Corp)

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