RENTAL OF COLLATERAL BY DEBTOR Sample Clauses

RENTAL OF COLLATERAL BY DEBTOR. The Debtor is engaged in the business of renting Collateral of the kind described in the Schedules of Indebtedness and Collateral described in Paragraph 1 of this Security Agreement. Both Debtor and Secured Party intend Debtor to rent this inventory Collateral, BUT SUBJECT AND SUBORDINATE TO THIS SECURITY AGREEMENT and only in the regular course of business as Debtor normally rents such inventory. Until default, Debtor may rent the Collateral or any part thereof in its regular course of business but subject to this Security Agreement. Debtor may remove the Collateral to other locations, without prior consent of Secured Party. Debtor hereby agrees that Secured Party shall, at any time and from time to time, after 48 hours prior notice to Debtor or Lessee, as applicable, have full access to and the right to inspect the Collateral hereunder whether such Collateral is located on Debtor's premises or on the premises of any lessee to whom Debtor has leased any or all of the Collateral hereunder; that, in no event shall Debtor remove or permit the Collateral to be removed to a place other than the United States, exclusive of all Commonwealths, Territories and Possessions, without the written consent of Secured Party, which consent shall not be unreasonably withheld.
Sample 1
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Related to RENTAL OF COLLATERAL BY DEBTOR

  • Removal of Collateral Grantor shall keep the Collateral (or to the extent the Collateral consists of intangible property such as accounts, the records concerning the Collateral) at Grantor's address shown above, or at such other locations as are acceptable to Lender. Except in the ordinary course of its business, including the sales of inventory, Grantor shall not remove the Collateral from its existing locations without the prior written consent of Lender. To the extent that the Collateral consists of vehicles, or other titled property, Grantor shall not take or permit any action which would require application for certificates of title for the vehicles outside the State of California, without the prior written consent of Lender.

  • Control of Collateral MLBFS may otherwise take control in any lawful manner of any cash or non-cash items of payment or proceeds of Collateral and of any rejected, returned, stopped in transit or repossessed goods included in the Collateral and endorse Customer's name on any item of payment on or proceeds of the Collateral.

  • Notice of Disposition of Collateral Debtor hereby agrees that notice of the time and place of any public sale or the time after which any private sale or other disposition of all or any part of the Collateral may be made shall be deemed reasonable if sent to Debtor, addressed as set forth in Article X, at least ten (10) days prior to (a) the date of any such public sale or (b) the time after which any such private sale or other disposition may be made.

  • Disposition of Collateral Such Grantor will not sell, lease or otherwise dispose of the Collateral owned by it except for dispositions specifically permitted pursuant to Section 6.05 of the Credit Agreement.

  • Use and Disposition of Collateral None of the Grantors shall make or permit to be made an assignment, pledge or hypothecation of the Collateral or shall grant any other Lien in respect of the Collateral, except as expressly permitted by Section 6.02

  • Control of Collateral Accounts To establish “control” of the Collateral Accounts by the Secured Party under Sections 9-104 and 9-106 of the UCC, the Financial Institution agrees to comply with any order or instruction from the Secured Party directing the deposit, withdrawal, transfer or redemption of the cash or other financial assets credited to a Collateral Account (a “Secured Party Order”) without the need for consent by the Grantor or any other Person.

  • No Disposition of Collateral Secured Party does not authorize, and Debtor agrees not to:

  • Collection Efforts, Modification of Collateral (a) The Servicer will use commercially reasonable efforts to collect, or cause to be collected, all payments called for under the terms and provisions of the Collateral Loans included in the Collateral as and when the same become due, all in accordance with the Servicing Standard.

  • Condition of Collateral Secured Party has no obligation to repair, clean-up or otherwise prepare the Collateral for sale.

  • Possession and Transfer of Collateral Unless an Event of Default exists hereunder, the Borrower shall be entitled to possession or use of the Collateral (other than Instruments or Documents, Tangible Chattel Paper, Investment Property consisting of certificated securities and other Collateral required to be delivered to the Bank pursuant to this Section 6). The cancellation or surrender of any Note, upon payment or otherwise, shall not affect the right of the Bank to retain the Collateral for any other of the Obligations. The Borrower shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower may sell Inventory in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of business.

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