Possession and Control of Collateral. 4.1. Borrower shall have possession of the Collateral, except where expressly otherwise provided in this Agreement or where Lender chooses to perfect its security interest by possession in addition to the filing of a financing statement. Regardless who has possession, Borrower shall in all events bear the risk of loss of the Collateral.
Appears in 3 contracts
Samples: Receivable and Inventory Security Agreement, Accounts Receivable Security Agreement (Applied Natural Gas Fuels, Inc.), Security Agreement (Phoenix Footwear Group Inc)
Possession and Control of Collateral. 4.1. Borrower shall have possession of the Collateral, except where expressly otherwise provided in this Agreement or where Lender chooses to perfect its security interest by possession in addition to the filing of a financing statementAgreement. Regardless who has possession, Borrower shall in all events bear the risk of loss of the Collateral.
Appears in 1 contract
Samples: Accounts Receivable Security Agreement (Adams Golf Inc)
