Common use of Sales of Collateral Obligations Clause in Contracts

Sales of Collateral Obligations. (a) So long as no Event of Default has occurred and is continuing, and no Borrowing Base Deficiency exists before and after giving effect to the sale, the Borrower (or the Collateral Manager on behalf of the Borrower acting pursuant to the Collateral Management Agreement) may direct the Collateral Agent in writing to sell, and the Collateral Agent shall sell in the manner directed by the Collateral Manager (on behalf of the Borrower) in writing any Collateral Obligation. (b) In the event of a prepayment, the Borrower or the Collateral Manager shall direct the Collateral Agent in writing to sell, and the Collateral Agent shall sell in the manner directed by the Collateral Manager (on behalf of the Borrower), any Collateral Obligation, subject to Section 2.05 (c) The Collateral Manager, on behalf of the Borrower, shall promptly sell any Collateral Obligation or Eligible Investment that is a Xxxxxxx Asset.

Sales of Collateral Obligations. (a) So long as no Event of Default has occurred and is continuing, and no Borrowing Base Deficiency exists before and after giving effect to the sale, the Borrower (or the Collateral Manager on behalf of the Borrower acting pursuant to the Collateral Management Agreement) may direct the Collateral Agent in writing to sell, and the Collateral Agent shall sell in the manner directed by the Collateral Manager (on behalf of the Borrower) in writing any Collateral Obligation. (b) In the event of a prepayment, the Borrower or the Collateral Manager shall direct the Collateral Agent in writing to sell, and the Collateral Agent shall sell in the manner directed by the Collateral Manager (on behalf of the Borrower), any Collateral Obligation, subject to Section 2.05 (c) The Collateral Manager, on behalf of the Borrower, shall promptly sell any Collateral Obligation or Eligible Investment that is a Xxxxxxx Asset.