Substitution of Collateral and Release of Security Interest. (a) So long as no Event of Default shall have occurred and be continuing and no Default or Event of Default would occur as a consequence of such sale or disposition, the Borrower may sell or dispose of or substitute Assigned Collateral in accordance with the terms of this Agreement and the Control Agreement.
Appears in 4 contracts
Samples: Credit and Security Agreement (Belmar Capital Fund LLC), Credit and Security Agreement (Liberty Floating Rate Advantage Fund), Revolving Credit and Security Agreement (Highland Floating Rate Advantage Fund)
Substitution of Collateral and Release of Security Interest. (a) So long as no Default or Event of Default shall have occurred and be continuing and no Default or Event of Default would occur as a consequence of such sale or disposition, the Borrower may originate entitlement orders with respect to the Collateral Account and may sell or dispose of or substitute Assigned Collateral in accordance with the terms of this Agreement and the Control Agreement.
Appears in 1 contract
Samples: Credit and Security Agreement (Managed High Yield Plus Fund Inc)
