Common use of Possession, Use and Release of Collateral Clause in Contracts

Possession, Use and Release of Collateral. (a) Unless an Event of Default shall have occurred and be continuing, subject to the terms of the Security Documents, the Issuers and the Guarantors will have the right to remain in possession and retain exclusive control of the Collateral securing the Notes and any Guarantees (other than any cash, securities, obligations and Cash Equivalents constituting part of the Collateral to the extent deposited with the Collateral Agent in accordance with the provisions of the Security Documents and other than as set forth in the Security Documents), to freely operate the Collateral and to collect, invest and dispose of any income thereon.

Appears in 3 contracts

Samples: Indenture (Petro Stopping Centers Holdings Lp), Indenture (Petro Financial Corp), Indenture (Petro Stopping Centers L P)

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Possession, Use and Release of Collateral. (a) Unless an Event of Default shall have occurred and be continuing, subject to the terms of the Security Documents, the Issuers Company and the Guarantors will have the right to remain in possession and retain exclusive control of the Collateral securing the Notes and any Guarantees (other than any cash, securities, obligations and Cash Equivalents cash equivalents constituting part of the Collateral to the extent and deposited with the Collateral Agent in accordance with the provisions of the Security Documents and other than as set forth in the Security Documents), to freely operate the Collateral and to collect, invest and dispose of any income thereonthereon subject to the terms and provisions of this Indenture.

Appears in 2 contracts

Samples: Indenture (RCN Corp /De/), Indenture (RCN Corp /De/)

Possession, Use and Release of Collateral. (a) Unless an Event of Default shall have occurred and be continuing, subject to the terms of the Security Documents, the Issuers Company and the Guarantors will have the right to remain in possession and retain exclusive control of the Collateral securing the Notes and any Guarantees (other than any cash, securities, obligations and Cash Equivalents constituting part of the Collateral to and under the extent deposited with control of the Collateral Agent in accordance with the provisions of the Security Documents and other than as set forth in the Security Documents), to freely operate the Collateral and to collect, invest and dispose of any income thereon.

Appears in 1 contract

Samples: First Supplemental Indenture (Aaipharma Inc)

Possession, Use and Release of Collateral. (a) Unless an Event of Default shall have occurred and be continuing, subject to the terms of the Security Documents, the Issuers Company and the Guarantors will have the right to remain in possession and retain exclusive control of the Collateral securing the Notes Securities and any the Guarantees (other than any cash, securities, obligations and Cash Equivalents constituting part of the Collateral to the extent and deposited with the Collateral Agent in accordance with the provisions of the Security Documents and other than as set forth in the Security Documents), to freely operate the Collateral and to collect, invest and dispose of any income thereon.

Appears in 1 contract

Samples: Quality Distribution Inc

Possession, Use and Release of Collateral. (a) Unless an Event of Default shall have occurred and be continuing, subject to the terms of the Security Documents, the Issuers Company and the Guarantors will have the right to remain in possession and retain exclusive control of the Collateral securing the Notes Securities and any Subsidiary Guarantees (other than any cash, securities, obligations and Cash Equivalents constituting part of the Collateral to the extent and deposited with the Collateral Agent in accordance with the provisions of the Security Documents and other than as set forth in the Security Documents), to freely operate the Collateral and to collect, invest and dispose of any income thereon.

Appears in 1 contract

Samples: Tenneco Automotive Inc

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Possession, Use and Release of Collateral. (a) Unless an Event of Default shall have occurred and be continuing, subject to the terms of the Security Documents, the Issuers Company and the Guarantors will have the right to remain in possession and retain exclusive control of the Collateral securing the Notes and any Guarantees (other than any cash, securities, obligations and Cash Equivalents constituting part of the Collateral to the extent and deposited with the Collateral Junior Agent in accordance with the provisions of the Security Documents and other than as set forth in the Security Documents), to freely operate the Collateral and to collect, invest and dispose of any income thereon.

Appears in 1 contract

Samples: Evergreen International Aviation Inc

Possession, Use and Release of Collateral. (a) Unless an Event of Default shall have occurred and be continuing, subject to the terms of the Security Documents, the Issuers and the Guarantors will have the right to remain in possession and retain exclusive control of the Collateral securing the Notes Securities and any Subsidiary Guarantees (other than any cash, securities, obligations and Cash Equivalents constituting part of the Collateral to the extent and deposited with the Collateral Agent in accordance with the provisions of the Security Documents and other than as set forth in the Security Documents), to freely operate the Collateral and to collect, invest and dispose of any income thereon.

Appears in 1 contract

Samples: RPP Capital Corp

Possession, Use and Release of Collateral. (a) Unless an Event of Default shall have occurred and be continuing, subject to the terms of the Security Documents, the Issuers Company and the Guarantors Guarantor will have the right to remain in possession and retain exclusive control of the Collateral securing the Notes and any Guarantees the Guarantee (other than any cash, securities, obligations and Cash Equivalents cash equivalents constituting part of the Collateral to and under the extent deposited with control of the Collateral Agent in accordance with the provisions of the Security Documents and other than as set forth in the Security Documents), to freely operate the Collateral and to collect, invest and dispose of any income thereon.

Appears in 1 contract

Samples: American Color Graphics Inc

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