Special Provisions Regarding Inventory. Notwithstanding anything to the contrary contained in this Security Agreement, each Obligor may, unless and until an Event of Default occurs and is continuing and the Administrative Agent instructs such Obligor otherwise, without further consent or approval of the Administrative Agent, use, consume, sell, lease and exchange its Inventory in the ordinary course of its business as presently conducted, whereupon, in the case of such a sale or exchange, the security interest created hereby in the Inventory so sold or exchanged (but not in any Proceeds arising from such sale or exchange) shall cease immediately without any further action on the part of the Administrative Agent.
Special Provisions Regarding Inventory. (a) Notwithstanding anything to the contrary contained in this Security Agreement, each Obligor may, unless and until an Event of Default occurs and is continuing and the Agent instructs such Obligor otherwise, without further consent or approval of the Agent, use, consume, sell, lease and exchange the Inventory in the ordinary course of its business as presently conducted (and as will be conducted after giving effect to the G&L Acquisition), whereupon, in the case of such a sale or exchange, the security interest created hereby in the Inventory so sold or exchanged (but not in any proceeds arising from such sale or exchange) shall cease immediately without any further action on the part of the Agent.
(b) Upon the Lenders' making any Loan pursuant to the Credit Agreement or the Issuing Bank issuing any Letter of Credit pursuant to the Credit Agreement, each Obligor shall be deemed to have warranted that all warranties of such Obligor set forth in this Security Agreement with respect to its Inventory are true and correct in all material respects with respect to such Inventory, including without limitation that such Inventory is located at a location permitted by Section 3(b) or 4(d) hereof.
Special Provisions Regarding Inventory. Notwithstanding anything to the contrary contained in this Security Agreement, each Obligor may, unless and until an Event of Default occurs and is continuing and the Collateral Agent instructs such Obligor otherwise, without further consent or approval of the Collateral Agent, use, consume, sell, lease and exchange the Inventory in the ordinary course of its business as presently conducted, whereupon, in the case of such a sale or exchange, the security interest and Lien created hereby in the Inventory so sold or exchanged (but not in any proceeds arising from such sale or exchange) shall cease immediately without any further action on the part of the Collateral Agent.
Special Provisions Regarding Inventory. (a) Unless and until an Event of Default occurs and is continuing and the Agent instructs such Obligor otherwise, each Obligor may, without further consent or approval of the Agent, use, consume, sell, lease and exchange the Inventory in the ordinary course of its business as presently conducted. In the case of a sale or exchange of Inventory permitted by the Credit Agreement, the security interest created hereby in the Inventory so sold or exchanged (but not in any proceeds arising from such sale or exchange) shall cease immediately without any further action on the part of the Agent.
(b) Upon the Lenders' making any Loan pursuant to the Credit Agreement or the Issuing Lender issuing any Letter of Credit pursuant to the Credit Agreement, each Obligor shall be deemed to have warranted that all warranties of such Obligor set forth in this Security Agreement with respect to its Inventory are true and correct in all material respects with respect to such Inventory, including without limitation that such Inventory is located at a location permitted by Section 3(b) or 4(d) hereof.
Special Provisions Regarding Inventory. Notwithstanding anything to the contrary contained in this Security Agreement, each Obligor may, unless and until an Event of Default occurs and is continuing and the Secured Party instructs such Obligor otherwise, without further consent or approval of the Secured Party, use, consume, sell, lease and exchange its Inventory in the ordinary course of its business as presently conducted, whereupon, in the case of such a sale or exchange, the security interest created hereby in the Inventory so sold or exchanged (but not in any Proceeds arising from such sale or exchange) shall cease immediately without any further action on the part of the Secured Party.
Special Provisions Regarding Inventory. (a) Notwithstanding anything to the contrary contained in this Security Agreement, each Obligor may, unless and until an Event of Default occurs and is continuing and the Agent instructs such Obligor otherwise, without further consent or approval of the Agent, use, consume, sell, lease and exchange its Inventory in the ordinary course of its business as presently conducted, whereupon, in the case of such a sale or exchange, the security interest created hereby in the Inventory so sold or exchanged (but not in any Proceeds arising from such sale or exchange) shall cease immediately without any further action on the part of the Agent.
(b) Upon the Lenders' making any Loan pursuant to the Credit Agreement, the Issuing Bank issuing any Letter of Credit or any Canadian Lender creating a Bankers' Acceptance pursuant to the Credit Agreement, each Obligor shall be deemed to have warranted that all warranties of such Obligor set forth in this Security Agreement with respect to its Inventory are true and correct in all material respects with respect to such Inventory, including without limitation that such Inventory is located at a location set forth on Schedule 6.22 to the Credit Agreement, as the same may be updated from time to time pursuant to Section 7.21 of the Credit Agreement.
Special Provisions Regarding Inventory. SECTION 4.01: In the absence of a default hereunder, the Company may use, consume and sell the Inventory in its ordinary course of business substantially in the same manner as now conducted provided that the Company: [LOGO] State Street
(a) shall immediately notify the Lender of any sale of the Inventory to customers who are not on the approved list of customers as determined by the Factor pursuant to the Factoring Agreement dated and made between the Company and the Factor referred to in Section 3.02(a) above; and
(b) will not without the written consent of the Lender sell the Inventory to any person(s) to whom the Company is indebted resulting in a partial or complete satisfaction of a debt/debts owing by the Company to such person(s).
SECTION 4.02: The Company will maintain the Inventory in good order and condition and will immediately notify the Lender of any damage thereto or any loss or significant diminution in the value thereof.
Special Provisions Regarding Inventory. Notwithstanding anything to the contrary contained in this Security Agreement, each Obligor may, unless and until an Event of Default occurs and is continuing and the Collateral Agent (acting pursuant to direction from the Trustee or Required Secured Parties) instructs such Obligor otherwise, without further consent or approval of the Collateral Agent, use, consume, sell, lease and exchange its Inventory in the ordinary course of its business as presently conducted or as permitted by the Indenture and the Additional Pari Passu Agreements, whereupon, in the case of such a sale or exchange, the security interest created hereby in the Inventory so sold or exchanged (but not in any Proceeds arising from such sale or exchange) shall cease immediately without any further action on the part of the Collateral Agent.
Special Provisions Regarding Inventory. Unless and until an Event of Default occurs and is continuing and the Agent instructs the Obligors otherwise, each Obligor may, without further consent or approval of the Agent, use, consume, sell, lease and exchange the Inventory in the ordinary course of its business as presently conducted, whereupon, in the case of a sale or exchange, the security interest created hereby in the Inventory so sold or exchanged (but not in any proceeds arising from such sale or exchange) shall cease immediately without any further action on the part of the Agent.
Special Provisions Regarding Inventory. Notwithstanding anything to the contrary contained in this Security Agreement, Borrower may, unless and until an Event of Default occurs and is continuing and Lender instructs Borrower otherwise, without further consent or approval of Lender, use, consume, sell, rent, lease and exchange the Inventory in the ordinary course of its business as presently conducted, whereupon, in the case of such a sale or exchange, the security interest created hereby in the Inventory so sold or exchanged (but not in any Proceeds arising from such sale or exchange) shall cease immediately without any further action on the part of Lender.
