PROCESSING AND SALES OF INVENTORY. So long as Borrower is not in default hereunder, Borrower shall have the right, in the regular course of business, to process and sell Borrower's Inventory. A sale in the ordinary course of business shall not include a transfer in total or partial satisfaction of a debt.
Appears in 5 contracts
Samples: Loan and Security Agreement (Thermodynetics Inc), Loan and Security Agreement (Seachange International Inc), Commercial Revolving Loan and Security Agreement (Aseco Corp)
PROCESSING AND SALES OF INVENTORY. So long as Borrower is not in default hereunder, Borrower shall have the right, in the regular course of business, to process and sell Borrower's ’s Inventory. A sale in the ordinary course of business shall not include a transfer in total or partial satisfaction of a debt.
Appears in 2 contracts
Samples: Loan and Security Agreement (Icad Inc), Loan and Security Agreement (Sevcon, Inc.)
PROCESSING AND SALES OF INVENTORY. So long as Borrower is not in default hereunder, Borrower shall have the right, in the regular course of business, to process and sell Borrower's Inventory, and, except for any interests in the proceeds thereof, such sale shall be free and clear of the security interest granted to the Bank hereunder. A sale in the ordinary course of business shall not include a transfer in total or partial satisfaction of a debt.
Appears in 1 contract
PROCESSING AND SALES OF INVENTORY. So long as Borrower no Event of Default has occurred and is not in default hereundercontinuing, Borrower shall have the right, in the regular course of business, to process and sell Borrower's Inventory’s inventory. A sale in the ordinary course of business shall not include a transfer in total or partial satisfaction of a debt.
Appears in 1 contract
Samples: Loan and Security Agreement (Blonder Tongue Laboratories Inc)
PROCESSING AND SALES OF INVENTORY. So long as Borrower is not in --------------------------------- default hereunder, Borrower shall have the right, in the regular course of business, to process and sell Borrower's Inventory. A sale in the ordinary course of business shall not include a transfer in total or partial satisfaction of a debt. Borrower shall not consign any Inventory.
Appears in 1 contract
Samples: Inventory and Accounts Receivable Loan and Security Agreement (Ourpets Co)
PROCESSING AND SALES OF INVENTORY. So long as Borrower no Event of Default has occurred and is not in default hereundercontinuing, each Borrower shall have the right, in the regular course of business, to process and sell such Borrower's Inventory. A sale in the ordinary course of business shall not include a transfer in total or partial satisfaction of a debt.
Appears in 1 contract
Samples: Loan and Security Agreement (Gerber Scientific Inc)
PROCESSING AND SALES OF INVENTORY. So long as Borrower is not in default hereunderIn the absence of an Event of Default, Borrower shall have the right, in the regular course of business, to process and sell Borrower's ’s Inventory. A sale in the ordinary course of business shall not include a transfer in total or partial satisfaction of a debt.
Appears in 1 contract
Samples: Loan and Security Agreement (Viisage Technology Inc)
PROCESSING AND SALES OF INVENTORY. So long as Borrower is not in default hereunder, Borrower shall have the right, in the regular course of business, to process and sell Borrower's Inventory. A sale in the ordinary course of business shall not include a transfer in total or partial satisfaction of a debt.
Appears in 1 contract
Samples: Inventory and Accounts Receivable Security Agreement (Global Decisions Group LLC)
PROCESSING AND SALES OF INVENTORY. So long as Borrower is not in default hereunder, Borrower shall have the right, in the regular course of business, to process and sell Borrower's Inventoryinventory. A sale in the ordinary course of business shall not include a transfer in total or partial satisfaction of a debt.
Appears in 1 contract
Samples: Demand Loan and Security Agreement (Divine Skin Inc.)
