Common use of RATIFICATION OF PERFECTION CERTIFICATE Clause in Contracts

RATIFICATION OF PERFECTION CERTIFICATE. Borrower hereby ratifies, confirms -------------------------------------- and reaffirms, all and singular, the terms and disclosures contained in a certain Perfection Certificate dated as of July 24, 2000 between Borrower and Bank, and acknowledges, confirms and agrees the disclosures and information above Borrower provided to Bank in the Perfection Certificate has not changed, as of the date hereof. Further, Borrower shall not, without providing the Bank with thirty (30) days prior written notice: (i) relocate its principal executive office or add any new offices or business locations or keep any Collateral in any additional locations, or (ii) change its state of formation, or (iii) change its organizational structure, (iv) change its legal name, or (v) change any organizational number (if any) assigned by its state of formation. In addition, the Borrower hereby certifies that no Collateral is in the possession or any third party bailee (such as at a warehouse). In the event that Borrower, after the date hereof, intends to store or otherwise deliver the Collateral to such a bailee, then Borrower shall receive the prior written consent of Bank and such bailee must acknowledge in writing that the bailee is holding such Collateral for the benefit of Bank.

Appears in 2 contracts

Samples: First Loan Modification Agreement (Seachange International Inc), Third Loan Modification Agreement (Seachange International Inc)

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RATIFICATION OF PERFECTION CERTIFICATE. Borrower hereby ratifies, confirms -------------------------------------- and reaffirms, all and singular, the terms and disclosures contained in a certain Perfection Certificate dated as of July 24, 2000 between Borrower and Bank, and acknowledges, confirms and agrees the disclosures and information above Borrower provided to Bank in the Perfection Certificate has not changed, as of the date hereof. Further, Borrower ------------------------------------------------------------ shall not, without providing the Bank with thirty (30) days prior written notice: (i) except as disclosed in the Perfection Certificate (defined below), relocate its principal executive office or add any new offices or business locations or keep any Collateral in any additional locations, or (ii) change its state of formation, or (iii) change its organizational structure, (iv) change its legal name, or (v) change any organizational number (if any) assigned by its state of formation. In addition, the Borrower hereby certifies that no Collateral is in the possession or of any third party bailee (such as at a warehouse). In the event that Borrower, after the date hereof, intends to store or otherwise deliver the Collateral to such a bailee, then Borrower shall receive the prior written consent of Bank and such bailee must acknowledge in writing that the bailee is holding such Collateral for the benefit of Bank. Borrower hereby ratifies, confirms and reaffirms, all and singular, the terms and disclosures contained in a certain Perfection Certificate dated as of December 22, 2000 between Borrower and Bank (the "Perfection Certificate"), and acknowledges, confirms and agrees the disclosures and information above Borrower provided to Bank in the Perfection Certificate have not changed, as of the date hereof.

Appears in 1 contract

Samples: Fourth Loan Modification Agreement (Centra Software Inc)

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RATIFICATION OF PERFECTION CERTIFICATE. Borrower hereby ratifies, confirms -------------------------------------- and reaffirms, all and singular, the terms and disclosures contained in a certain Perfection Certificate dated as of July 24November 21, 2000 2000, as amended March 30, 2001, as further amended as of the date hereof, between Borrower and Bank, and acknowledges, confirms and agrees the disclosures and information above Borrower provided to Bank in the Perfection Certificate has not changed, as of the date hereof. Further, Borrower shall not, not without providing the Bank with thirty (30) days prior written notice: (i) relocate its principal executive office or add any new offices or business locations or keep any Collateral in any additional locations, or (ii) change its state of formation, or (iii) change its organizational structure, (iv) change its legal name, or (v) change any organizational number (if any) assigned by its state of formation. In addition, the Borrower hereby certifies that no Collateral is in the possession or any third party bailee (such as at a warehouse). In the event that Borrower, after the date hereof, intends to store or otherwise deliver the Collateral to such a bailee, then Borrower shall receive the prior written consent of Bank and such bailee must acknowledge in writing that the bailee is holding such Collateral for the benefit of Bank.

Appears in 1 contract

Samples: Third Loan Modification Agreement (Art Technology Group Inc)

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