Replacement of Collateral. During the duration of this Syndicated Loan, if the Borrower needs to replace the old equipment in order to enhance the technical level or if the subject matter of the chattel mortgage has been damaged beyond repair, the Borrower shall use the newly purchased semiconductor packaging or testing equipment (hereafter “New Subject Matter”) to replace the outdated or damaged subject matter of the chattel mortgage (hereafter “Old Subject Matter”). However, the replacement of the subject matter of the chattel shall comply with the following terms:
Replacement of Collateral. Debtor shall not sell or replace any item or part of the Collateral without the prior written consent of Secured Party.
Replacement of Collateral. To keep the tangible personal property portion of the Collateral, all and singular, on the property where presently located and not to remove or permit same to be removed therefrom without the prior written consent of the Lender except that Borrower shall be entitled to dispose of such of the Collateral as has become unfit for continued use provided Borrower simultaneously replaces same with property of similar kind and for like use and provided the purchase price of any such replacement shall have been paid in full and provided that the lien of this Agreement shall continue upon any such replacement. To use reasonable care and diligence to preserve and keep the Collateral in good condition and not to permit or commit any waste, impairment or deterioration thereof and to use same only for the purpose for which same is now agreed upon to be used in connection with said improvements.
Replacement of Collateral. During the duration of this Syndicated Loan, if the Borrower needs to replace the old equipment in order to enhance the technical level or if the subject matter of the chattel mortgage has been damaged (or there is a likelihood of damage) beyond repair, the Borrower shall use the newly purchased semiconductor packaging or testing equipment (hereinafter “New Subject Matter”) to replace the outdated or damaged (or a likelihood of damage to) subject matter of the chattel mortgage (hereinafter “Old Subject Matter”). However, the replacement of the subject matter of the chattel shall comply with the following terms:
Replacement of Collateral. The Assignor, at its own cost and expense, shall promptly replace all Collateral as to which an Event of Loss has occurred, provided Assignee makes insurance or other proceeds, if any, payable on account of such Event of Loss available to Assignor to make such replacement. All such replacements shall be free and clear of all Liens in favor of any Person and shall be in as good operating condition as, and shall have performance and durability characteristics and a value and utility at least equal to, the Collateral replaced assuming such replaced Collateral were in the condition and repair required to be maintained under subsection 6.4 hereof.
Replacement of Collateral. The Company will be entitled at any time to release and remove the charges on the Charged Shares and on the Shareholders’ Series C Bond Loans (as detailed in sections 6.6.2.3 and 6.6.2.4 above), in whole or in part, or to replace the charges on the Charged Shares and on the Shareholders’ Series C Bond Loans, in whole or in part, with bank guarantee/s and/or bank deposit/s and/or amounts in cash (including by way of a sale of the Charged Shares, in whole or in part, as stated in section 6.6.5.4 below) (the replacement of all the charges on the Charged Shares and on the Shareholders’ Series C Bond Loans with other collateral will be referred to hereinafter as “
Replacement of Collateral. Effective upon the satisfaction of all conditions precedent set forth in Paragraph 4 below, all liens and security interests of McKesson in all of the personal property of Accentia will automatically be released; all Security Agreements and amendments and modifications thereto between Accentia and/or any of its subsidiaries and McKesson shall automatically terminate and McKesson shall file at the expense of Accentia UCC 3 termination statements in all locations where UCC financing statements were previously filed (the “Collateral Release and Termination of Security Agreements”). McKesson shall execute such additional documents as may be necessary to effect the Collateral Release and Termination of Security Agreements at the expense of Accentia. In consideration of the Collateral Release and Termination of Security Agreements, McKesson shall receive a duly perfected security interest of no less than first priority in 18,000,000 shares of common stock of Biovest International, Inc. (“BVTI”) owned by Accentia (the “Replacement Collateral” or the “BVTI Shares”). Should the value of the Replacement Collateral at any time fall below the unpaid amount of the Guaranteed Return, Accentia agrees to provide additional stock in BVTI or other collateral to McKesson (all of which shall be included in the definitions of “Replacement Collateral” and “BVTI Shares”) in an amount sufficient that the unpaid portion of the Guaranteed Return is fully secured by the Replacement Collateral. Should Accentia fail to do so, then McKesson may demand that Accentia redeem all the remaining Converted Stock still owned by McKesson and/or required to be delivered to McKesson at a price of $2.67 per share and if Accentia is unable to pay the amount thus demanded within three
Replacement of Collateral. Debtor will keep the Premises and the Improvements fully equipped, and will replace all worn out or obsolete Collateral with fixtures or personal property comparable thereto when new, and will not, without Secured Party's prior written consent, remove from the Premises or the Improvements any fixtures or personalty covered by this Instrument unless the same is replaced by Debtor with an article of equal suitability and value when new, owned by Debtor free and clear of any lien or security interest (other than Permitted Encumbrances and the lien and security interest created by this Instrument).
Replacement of Collateral. 9.1 If a Consumer becomes in excess of ninety (90) days delinquent on any of the Consumer's obligations under the terms and conditions of his or her Contract and Related Documents, then with respect to such delinquent Contract, Developer shall immediately replace said delinquent Contract with another Contract for an amount equal to all sums due thereunder, including, but not limited to unpaid principal, accrued interest, plus any expenses of collection (including, but not limited to reasonable attorney's fees and court costs) as a result of said default by a Consumer as aforesaid.
Replacement of Collateral. If Bxxxxxxx, in Bxxxxxxx's sound discretion, determines that any item of the Collateral has become inadequate, obsolete, worn out, unsuitable, undesirable or unnecessary for the operation of the Property, Borrower may, at Borrower's expense, remove and dispose of it and substitute and install other items not necessarily having the same function, provided that such removal and substitution will not impair the operating utility and unity of the Premises. All substituted items will become a part of the Premises and subject to the lien of this mortgage. Any amounts received or allowed Borrower upon the sale or other disposition of the removed items of Collateral will be applied first against the cost of acquisition and installation of the substituted items.
