Common use of Protection of Collateral Agent’s Security Clause in Contracts

Protection of Collateral Agent’s Security. Each Assignor will do nothing to impair the rights of the Collateral Agent in the Collateral. Each Assignor will at all times keep its Inventory and Equipment insured in favor of the Collateral Agent, at such Assignor's own expense to the extent and in the manner provided in the Credit Agreement. Except to the extent otherwise permitted to be retained by such Assignor or applied by such Assignor pursuant to the terms of the Credit Agreement, the Collateral Agent shall, at the time any proceeds of such insurance are distributed to the Secured Creditors, apply such proceeds in accordance with Section 7.4 hereof. Each Assignor assumes all liability and responsibility in connection with the Collateral acquired by it and the liability of such Assignor to pay the Obligations shall in no way be affected or diminished by reason of the fact that such Collateral may be lost, destroyed, stolen, damaged or for any reason whatsoever unavailable to such Assignor.

Appears in 9 contracts

Samples: Security Agreement (Dayton Superior Corp), Security Agreement (Marathon Power Technologies Co), Security Agreement (Marathon Power Technologies Co)

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Protection of Collateral Agent’s Security. Each Except as otherwise permitted by the Secured Debt Agreements, each Assignor will do nothing to impair the rights of the Collateral Agent in the Collateral. Each Assignor will at all times keep its Inventory and Equipment insured in favor of the Collateral Agentmaintain insurance, at such Assignor's ’s own expense to the extent and in the manner provided in the Credit AgreementSecured Debt Agreements. Except to the extent otherwise permitted to be retained by such Assignor or applied by such Assignor pursuant to the terms of the Credit AgreementSecured Debt Agreements, the Collateral Agent shall, at the time any proceeds of such insurance are distributed to the Secured Creditors, apply such proceeds in accordance with Section 7.4 hereof. Each Assignor assumes all liability and responsibility in connection with the Collateral acquired by it and the liability of such Assignor to pay the Obligations shall in no way be affected or diminished by reason of the fact that such Collateral may be lost, destroyed, stolen, damaged or for any reason whatsoever unavailable to such Assignor.

Appears in 9 contracts

Samples: Security Agreement (CURO Group Holdings Corp.), Security Agreement (CURO Group Holdings Corp.), Security Agreement (PAETEC Holding Corp.)

Protection of Collateral Agent’s Security. Each Except as otherwise permitted by the Secured Documents, each Assignor will do nothing to impair the rights of the Collateral Agent in the Collateral. Each Assignor will at all times keep its Inventory and Equipment insured in favor of the Collateral Agentmaintain insurance, at such Assignor's ’s own expense to the extent and in the manner provided in the Credit AgreementSecured Documents. Except to the extent otherwise permitted to be retained by such Assignor or applied by such Assignor pursuant to the terms of the Credit AgreementSecured Documents, the Collateral Agent shall, at the time any proceeds of such insurance are distributed to the Secured CreditorsParties, apply such proceeds in accordance with Section 7.4 hereof. Each Assignor assumes all liability and responsibility in connection with the Collateral acquired by it and the liability of such Assignor to pay the Secured Obligations shall in no way be affected or diminished by reason of the fact that such Collateral may be lost, destroyed, stolen, damaged or for any reason whatsoever unavailable to such Assignor.

Appears in 4 contracts

Samples: Security Agreement (CURO Group Holdings Corp.), Security Agreement (CURO Group Holdings Corp.), Security Agreement (CURO Group Holdings Corp.)

Protection of Collateral Agent’s Security. Each Except as otherwise not prohibited by the Credit Documents, no Assignor will do nothing anything to impair the rights of the Collateral Agent in the Collateral. Each Assignor will at all times keep its Inventory and Equipment insured in favor of the Collateral Agentmaintain insurance, at such Assignor's ’s own expense to the extent and in the manner provided in the Credit Agreement. Except to the extent otherwise permitted to be retained by such Assignor or applied by such Assignor pursuant to the terms of the Credit Agreement, the Collateral Agent shall, at the time any proceeds of such insurance are distributed to the Secured Creditors, apply such proceeds in accordance with Section 7.4 5.6 hereof. Each Assignor assumes all liability and responsibility in connection with the Collateral acquired by it and the liability of such Assignor to pay the Obligations shall in no way be affected or diminished by reason of the fact that such Collateral may be lost, destroyed, stolen, damaged or for any reason whatsoever unavailable to such Assignor.

Appears in 3 contracts

Samples: Canadian Security Agreement (Ciena Corp), Canadian Security Agreement (Ciena Corp), Canadian Security Agreement (Ciena Corp)

Protection of Collateral Agent’s Security. Each Except as otherwise expressly permitted herein, each Assignor will do nothing to impair the rights of the Collateral Agent in the Collateral. Each Assignor will at all times keep its Inventory and Equipment insured in favor of the Collateral Agent, at such Assignor's own expense to the extent and in the manner provided in Section 8.03 of the Credit Agreement. Except Prior to the exercise of any of the remedies provided for herein, all insurance proceeds shall be applied in the manner and to the extent otherwise permitted to be retained required by such Assignor or applied by such Assignor pursuant to the terms of the Credit Agreement, the Collateral Agent shalland at any time thereafter, at the time any proceeds of such insurance are distributed to the Secured Creditors, apply such proceeds shall be applied in accordance with Section 7.4 hereof. Each Assignor assumes all liability and responsibility in connection with the Collateral acquired by it and the liability of such Assignor to pay the Obligations shall in no way be affected or diminished by reason of the fact that such Collateral may be lost, destroyed, stolen, damaged or for any reason whatsoever unavailable to such Assignor.

Appears in 3 contracts

Samples: Security Agreement (Universal Compression Holdings Inc), Security Agreement (Universal Compression Holdings Inc), Security Agreement (Universal Compression Inc)

Protection of Collateral Agent’s Security. Each Except as otherwise permitted by the Secured Debt Agreements, each Assignor will do nothing to impair adversely affect the rights right, title and interest of the Collateral Agent in the Collateral. Each Assignor will at all times keep its Inventory and Equipment insured in favor of the Collateral Agentmaintain insurance, at such Assignor's own expense to the extent and in the manner provided in the Credit AgreementSecured Debt Agreements. Except to the extent otherwise permitted to be retained by such Assignor or applied by such Assignor pursuant to the terms of the Credit AgreementSecured Debt Agreements, the Collateral Agent shall, at the time any proceeds of such insurance are distributed to the Secured Creditors, apply such proceeds in accordance with Section 7.4 hereof. Each Assignor assumes all liability and responsibility in connection with the Collateral acquired by it and the liability of such Assignor to pay the Obligations shall in no way be affected or diminished by reason of the fact that such Collateral may be lost, destroyed, stolen, damaged or for any reason whatsoever unavailable to such Assignor.

Appears in 2 contracts

Samples: Security Agreement (Dominos Inc), Security Agreement (Dominos Inc)

Protection of Collateral Agent’s Security. Each Except as otherwise permitted by the Secured Debt Agreements, each Assignor will do nothing to impair the rights of the Collateral Agent in the Collateral. Each Assignor or an affiliate on behalf of such Assignor will at all times keep its Inventory and Equipment insured in favor of the Collateral Agentmaintain insurance, at such Assignor's ’s own expense to the extent and in the manner provided in the Credit AgreementSecured Debt Agreements. Except to the extent otherwise permitted to If any Event of Default shall have occurred and be retained by such Assignor or applied by such Assignor pursuant to the terms of the Credit Agreementcontinuing, the Collateral Agent shall, at the time any proceeds of such insurance are distributed to the Secured Creditors, apply such proceeds in accordance with Section 7.4 hereof. Each Assignor assumes all liability and responsibility in connection with the Collateral acquired by it and the liability of such Assignor to pay the Obligations shall in no way be affected or diminished by reason of the fact that such Collateral may be lost, destroyed, stolen, damaged or for any reason whatsoever unavailable to such Assignor.

Appears in 2 contracts

Samples: Security Agreement (Bway Corp), Security Agreement (Bway Corp)

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Protection of Collateral Agent’s Security. Each Assignor will do ----------------------------------------- nothing to impair the rights of the Collateral Agent in the Collateral. Each Assignor will at all times keep its Inventory and Equipment insured in favor of the Collateral Agent, at such Assignor's own expense to the extent and in the manner provided in the Credit Agreement. Except to the extent otherwise permitted to be retained by such Assignor or applied by such Assignor pursuant to the terms of the Credit Agreement, the Collateral Agent shall, at the time any an proceeds of such insurance are distributed to the Secured Creditors, apply such proceeds in accordance with Section 7.4 hereof. Each Assignor assumes all liability and responsibility in connection with the Collateral acquired by it and the liability of such Assignor to pay the Obligations shall in no way be affected or diminished by reason of the fact that such Collateral may be lost, destroyed, stolen, damaged or for any reason whatsoever unavailable to such Assignor.

Appears in 1 contract

Samples: Security Agreement (Resources Connection Inc)

Protection of Collateral Agent’s Security. Each Assignor will do nothing to impair the rights of the Collateral Agent in the Collateral. Each Assignor will at all times keep its Inventory and Equipment insured in favor of the Collateral Agent, at such Assignor's ’s own expense to the extent and in the manner provided in the Credit Agreement. Except to the extent otherwise permitted to be retained by such Assignor or applied by such Assignor pursuant to the terms of the Credit Agreement, the Collateral Agent shall, at the time any proceeds of such insurance are distributed to the Secured Creditors, apply such proceeds in accordance with Section 7.4 hereof. Each Assignor assumes all liability and responsibility in connection with the Collateral acquired by it and the liability of such Assignor to pay the Obligations shall in no way be affected or diminished by reason of the fact that such Collateral may be lost, destroyed, stolen, damaged or for any reason whatsoever unavailable to such Assignor.

Appears in 1 contract

Samples: Security Agreement (Infousa Inc)

Protection of Collateral Agent’s Security. Each Except as otherwise not prohibited by the Credit Documents, no Assignor will do nothing anything to impair the rights of the Collateral Agent in the Collateral. Each Assignor will at all times keep its Inventory and Equipment insured in favor of the Collateral Agentmaintain insurance, at such Assignor's ’s own expense to the extent and in the manner provided in the Credit Agreement. Except to the extent otherwise permitted to be retained by such Assignor or applied by such Assignor pursuant to the terms of the Credit Agreement, the Collateral Agent shall, at the time any proceeds of such insurance are distributed to the Secured Creditors, apply such proceeds in accordance with Section 7.4 5.4 hereof. Each Assignor assumes all liability and responsibility in connection with the Collateral acquired by it and the liability of such Assignor to pay the Obligations shall in no way be affected or diminished by reason of the fact that such Collateral may be lost, destroyed, stolen, damaged or for any reason whatsoever unavailable to such Assignor.

Appears in 1 contract

Samples: Security Agreement (Ciena Corp)

Protection of Collateral Agent’s Security. Each Except as otherwise expressly permitted herein, each Assignor will do nothing to impair the rights of the Collateral Agent in the Collateral. Each Assignor will at all times keep its Inventory and Equipment insured in favor of the Collateral Agent, at such Assignor's own expense to the extent and in the manner provided in Section 8.03 of the Credit Agreement. Except Prior to the exercise of any of the remedies provided for herein, all insurance proceeds shall be applied in the manner and to the extent otherwise permitted to be retained required by such Assignor or applied by such Assignor pursuant to the terms of the Credit Agreement, the Collateral Agent shalland at any time thereafter, at the time any proceeds of such insurance are distributed to the Secured Creditors, apply such proceeds shall be applied in accordance with Section 7.4 hereof. Each Assignor assumes all liability and responsibility in connection with the Collateral acquired by it and the liability of such Assignor to pay the Obligations shall in no way be affected or diminished by reason of the fact that such Collateral may be lost, destroyed, stolen, damaged or for any reason whatsoever unavailable to such Assignor. 6.2.

Appears in 1 contract

Samples: Security Agreement Security Agreement

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