Preservation and Disposition of Collateral. (a) Except for the security interest granted hereby and Permitted Liens, Debtor shall keep the Collateral free from any and all liens, security interests, encumbrances, claims and interests. Debtor shall advise Lender promptly, in writing and in reasonable detail, (i) of any material encumbrance upon or claim asserted against any of the Collateral; (ii) of any material change in the composition of the Collateral; and (iii) of the occurrence of any other event that would have a material effect upon the aggregate value of the Collateral or upon the security interest of Lender.
Appears in 5 contracts
Samples: Security Agreement (Digital Cinema Destinations Corp.), Security Agreement (Digital Cinema Destinations Corp.), Security Agreement (Digital Cinema Destinations Corp.)
