Common use of Sale of Collateral, Etc Clause in Contracts

Sale of Collateral, Etc. (a) No Pledgor will (i) sell, assign, transfer, convey, or otherwise dispose of, or grant any option with respect to, any of the Collateral, or (ii) create or permit to exist any Lien upon or with respect to any of the Collateral, except for the lien and security interest created by this Agreement. (b) Without the prior written consent of the Pledgee, Entree will not, and Anderson will insure that Enxxxx xxxs not, do any of the following: amend, cancel, terminate or otherwise modify the Red Tulip Operating Agreement; give any consent, waiver or other approval thereunder; waive any default under or breach of the Red Tulip Operating Agreement; designate Managers (as such term is defined in the Red Tulip Operating Agreement) of Red Tulip other than Entree and Anderson; or take any other xxxxxx xn connection with such agreement or the LLC Interest that would materially impair the value of the interests or rights of any Pledgor thereunder or with respect thereto. (c) Notwithstanding the foregoing clause (b), Entree may, without the prior written consent of the Pledgee, cause Red Tulip to incur indebtedness and in connection with such indebtedness to cause to be executed and delivered by Red Tulip a mortgage on the real estate property owned by Red Tulip, known as 419-421 Broome Street, New Yxxx, Xxx Xxxx, xxxxxxxx such loan, provided that the proceeds from such loan are used by Red Tulip exclusively for the purpose of making improvements to such property.

Sale of Collateral, Etc. (a) No Pledgor will (i) sell, assign, transfer, convey, or otherwise dispose of, or grant any option with respect to, any of the Collateral, or (ii) create or permit to exist any Lien upon or with respect to any of the Collateral, except for the lien and security interest created by this Agreement. (b) Without the prior written consent of the Pledgee, Entree will not, and Anderson will Andexxxx xxxl insure that Enxxxx xxxs Entree does not, do any of the following: amend, cancel, terminate or otherwise modify the Red Tulip Operating Agreement; give any consent, waiver or other approval thereunder; waive any default under or breach of the Red Tulip Operating Agreement; designate Managers (as such term is defined in the Red Tulip Operating Agreement) of Red Tulip other than Entree and AndersonAndexxxx; or xx take any other xxxxxx xn action in connection with such agreement or the LLC Interest that would materially impair the value of the interests or rights of any Pledgor thereunder or with respect thereto. (c) Notwithstanding the foregoing clause (b), Entree may, without the prior written consent of the Pledgee, cause Red Tulip to incur indebtedness and in connection with such indebtedness to cause to be executed and delivered by Red Tulip a mortgage on the real estate property owned by Red Tulip, known as 419-421 Broome StreetBrooxx Xxxxxx, New Yxxx, Xxx Xxxx, xxxxxxxx such loan, provided that the proceeds from such loan are used by Red Tulip exclusively for the purpose of making improvements to such property.Xxx

Sale of Collateral, Etc. (a) No Pledgor will (i) sell, assign, transfer, convey, or otherwise dispose of, or grant any option with respect to, any of the Collateral, or (ii) create or permit to exist any Lien upon or with respect to any of the Collateral, except for the lien and security interest created by this Agreement. (b) Without the prior written consent of the Pledgee, Entree will not, and Anderson Xxxxxxxx will insure that Enxxxx xxxs Entree does not, do any of the following: amend, cancel, terminate or otherwise modify the Red Tulip Operating Agreement; give any consent, waiver or other approval thereunder; waive any default under or breach of the Red Tulip Operating Agreement; designate Managers (as such term is defined in the Red Tulip Operating Agreement) of Red Tulip other than Entree and AndersonXxxxxxxx; or take any other xxxxxx xn action in connection with such agreement or the LLC Interest that would materially impair the value of the interests or rights of any Pledgor thereunder or with respect thereto. (c) Notwithstanding the foregoing clause (b), Entree may, without the prior written consent of the Pledgee, cause Red Tulip to incur indebtedness and in connection with such indebtedness to cause to be executed and delivered by Red Tulip a mortgage on the real estate property owned by Red Tulip, known as 419000-421 Broome Street000 Xxxxxx Xxxxxx, New YxxxYork, Xxx XxxxNew York, xxxxxxxx securing such loan, provided that the proceeds from such loan are used by Red Tulip exclusively for the purpose of making improvements to such property.

Sale of Collateral, Etc. (a) No Pledgor will (i) sell, assign, transfer, convey, or otherwise dispose of, or grant any option with respect to, any of the Collateral, or (ii) create or permit to exist any Lien upon or with respect to any of the Collateral, except for the lien and security interest created by this Agreement. (b) Without the prior written consent of the Pledgee, Entree will not, and Anderson Xxxxxxxx will insure that Enxxxx xxxs Entree does not, do any of the following: amend, cancel, terminate or otherwise modify the Red Tulip Operating Agreement; give any consent, waiver or other approval thereunder; waive any default under or breach of the Red Tulip Operating Agreement; designate Managers (as such term is defined in the Red Tulip Operating Agreement) of Red Tulip other than Entree and AndersonXxxxxxxx; or take any other xxxxxx xn action in connection with such agreement or the LLC Interest that would materially impair the value of the interests or rights of any Pledgor thereunder or with respect thereto. (c) Notwithstanding the foregoing clause (b), Entree may, without the prior written consent of the Pledgee, cause Red Tulip to incur indebtedness and in connection with such indebtedness to cause to be executed and delivered by Red Tulip a mortgage on the real estate property owned by Red Tulip, known as 419-421 Broome Street419- 000 Xxxxxx Xxxxxx, New YxxxYork, Xxx XxxxNew York, xxxxxxxx securing such loan, provided that the proceeds from such loan are used by Red Tulip exclusively for the purpose of making improvements to such property.