Sales and Further Encumbrances. No Obligor will sell, grant, assign or transfer any interest in, or permit to exist any Encumbrance on, any of the Collateral of such Obligor, except the Security Interests, Permitted Encumbrances and as permitted by the Credit Agreement.
Sales and Further Encumbrances. The Debtor shall defend its title to, and the Secured Party's interest in, the Collateral against all claims and take any action necessary to remove any Encumbrances other than Permitted Encumbrances and defend the right, title and interest of the Secured Party in and to any of the Secured Party's rights in the Collateral.
Sales and Further Encumbrances. Except for sales in the ordinary course of business and transactions permitted pursuant to the Credit Agreement, the Borrower will not sell, grant, assign or transfer any interest in, or permit to exist any Encumbrances on, any of the Collateral, except the Security Interests as permitted by the Credit Agreement.
Sales and Further Encumbrances. The Debtor will not sell, grant, assign or transfer any interest in, or permit to exist any Encumbrance on, any of the Collateral other than in favor of the Secured Party or its affiliates except for (i) sales of Inventory or grants of licenses and other rights in the ordinary course of the Debtor's business for cash or on open account and on terms of payment ordinarily extended to its customers; (ii) so long as no Event of Default hereunder has occurred and is continuing, dispositions of Equipment that has become worn out or obsolete or that has been replaced by other Equipment; or (iii) as otherwise permitted by the Secured Party in writing. The Debtor shall defend its title to and the Secured Party's interest in the Collateral against all claims and take any action necessary to remove any Encumbrances other than those permitted hereunder and defend the right, title and interest of the Secured Party in and to any of the Debtor's rights in the Collateral.
Sales and Further Encumbrances. No Loan Party will sell, grant, assign or transfer any interest in, or permit to exist any Encumbrance on, any of the Collateral of such Loan Party, except the Security Interests and as permitted by the Credit Agreement.
Sales and Further Encumbrances. The Borrower will not sell, grant, assign or transfer any interest in, or permit to exist any Encumbrance on, any of the Collateral of the Borrower, except the Security Interests and as permitted by the Loan Agreement.
Sales and Further Encumbrances. The Company will not sell, grant, assign or transfer any interest in, or permit to exist any Encumbrance on, any of the Collateral other than in favor of the Bank or its affiliates except for (i) sales of Inventory or grants of licenses and other rights in the ordinary course of the Company's business for cash or on open account and on terms of payment ordinarily extended to its customers; (ii) so long as no Event of Default hereunder has occurred and is continuing, (a) sales of Securities, other than Securities representing ownership of its Subsidiaries, if such sales are made on fair and reasonable terms in arms-length transactions, or (b) dispositions of Equipment, other than Equipment that has become worn out or obsolete or that has been replaced by other Equipment; or (iii) as otherwise permitted by the Bank in writing or included in this Agreement. The Company shall defend its title to and the Bank's interest in the Collateral against all claims and take any action necessary to remove any Encumbrances other than those permitted hereunder and defend the right, title and interest of the Bank in and to any of the Company's rights in the Collateral.
Sales and Further Encumbrances. The Guarantor will not sell, grant, assign or transfer any interest in, or permit to exist any Encumbrance on, any of the Collateral other than in favor of the Secured Party or its affiliates, except for (i) sales of Inventory or grants of licenses and other rights in the ordinary course of the Guarantor’s business for cash or on open account and on terms of payment ordinarily extended to its customers; (ii) so long as no Event of Default hereunder has occurred and is continuing, (a) sales of Securities that represent ownership of its subsidiaries, if such sales are made on fair and reasonable terms in arms-length transactions, or (b) dispositions of Equipment that has become worn out or obsolete or that has been replaced by other Equipment; or (iii) as otherwise permitted by the Secured Party in writing. The Guarantor shall defend its title to and the Secured Party’s interest in the Collateral against all claims and take any action necessary to remove any Encumbrances other than those permitted hereunder and defend the right, title and interest of the Secured Party in and to any of the Guarantor’s rights in the Collateral.
Sales and Further Encumbrances. EACH DEBTOR AGREES IT WILL NOT SELL, GRANT, ASSIGN OR TRANSFER ANY INTEREST IN, OR PERMIT TO EXIST ANY ENCUMBRANCE ON, ANY OF THE COLLATERAL OTHER THAN IN FAVOR OF THE SECURED PARTY AND THE BBRF INTEREST EXCEPT AS PERMITTED BY THE SECURED PARTY IN WRITING. EACH DEBTOR SHALL DEFEND ITS TITLE TO, AND THE INTEREST OF THE SECURED PARTY IN, THE COLLATERAL AGAINST ALL CLAIMS AND TAKE ANY ACTION NECESSARY TO REMOVE ANY ENCUMBRANCES OTHER THAN THOSE PERMITTED UNDER THIS AGREEMENT. EACH DEBTOR WILL DEFEND THE RIGHT, TITLE AND INTEREST OF THE SECURED PARTY IN AND TO ANY RIGHTS OF EACH DEBTOR IN THE COLLATERAL.
Sales and Further Encumbrances. Each Debtor agrees that it will not sell, grant, assign or transfer any interest in, or permit to exist any Encumbrance on, any of the Collateral other than in favor of the Secured Party or its affiliates or the BBRF Interest except for (i) sales of Inventory or grants of licenses and other rights in the ordinary course of the Debtor's business for cash or on open account and on terms of payment ordinarily extended to its customers; (ii) so long as no Event of Default hereunder has occurred and is continuing, sales of Investment Property, other than Investment Properties that represent ownership of its subsidiaries, if such sales are made on fair and reasonable terms in arms-length transactions, or as otherwise permitted by the Secured Party in writing. The Debtor shall defend its title to and the Secured Party's interest in the Collateral against all claims and take any action necessary to remove any Encumbrances other than those permitted hereunder and defend the right, title and interest of the Secured Party in and to any of the Debtor's rights in the Collateral.
