Preservation and Disposition of Collateral. (a) Debtor shall not spend, withdraw, reduce, pledge, transfer, assign or otherwise dispose of the Account or any portion thereof. Bank shall be entitled to condition withdraws from the Account upon the receipt of such matters as it may reasonably request, including, but not limited to, evidence that Debtor is in full compliance with each of the terms and conditions of, and that no Event of Default exists under that certain Master Letter of Credit Facility Agreement dated as of July 27, 2009 (the "Credit Agreement"), evidencing the Obligations.
Appears in 6 contracts
Samples: Master Letter of Credit Facility Agreement (M I Homes Inc), Master Letter of Credit Facility Agreement (M I Homes Inc), Security Agreement (M I Homes Inc)