Tangible Collateral. Except as otherwise provided herein or agreed to in writing by the Lender, no Inventory or other tangible collateral shall be commingled with, or become an accession to or part of, any property of any other Person so long as such property is Collateral. Upon the occurrence of any Event of Default, the Borrower shall, upon the request of the Lender, promptly assemble all tangible Collateral for delivery to the Lender or its agents. No tangible Collateral shall be allowed to become a fixture unless the Lender shall have given its prior written authorization.
Appears in 4 contracts
Samples: Share Purchase Agreement (American Dream International LTD), Share Purchase Agreement (Vector Aeromotive Corp), Share Purchase Agreement (Welty W R)
Tangible Collateral. Except as otherwise provided herein or agreed to in writing by the LenderBank, no Inventory or other tangible collateral shall be commingled with, or become an accession to or part of, any property of any other Person so long as such property is Collateral. Upon the occurrence of any Event of Default, the Borrower shall, upon the request of the LenderBank, promptly assemble all tangible Collateral for delivery to the Lender Bank or its agents. No tangible Collateral shall be allowed to become a fixture unless the Lender Bank shall have given its prior written authorization.
Appears in 4 contracts
Samples: Credit and Security Agreement (Prestige Cosmetics Corp), Term Loan, Revolving Credit and Security Agreement (Able Telcom Holding Corp), Revolving Credit and Security Agreement (Advanced Communication Systems Inc)
Tangible Collateral. Except as otherwise provided herein or agreed to in writing by the LenderBank, no Inventory or other tangible collateral Collateral shall be commingled with, or become an accession to or part of, any property of any other Person so long as such property is Collateral. Upon the occurrence and continuance of any Event of Default, the Borrower shall, upon the request of the LenderBank, promptly assemble all tangible Collateral for delivery to the Lender Bank or its agents. No tangible Collateral shall be allowed to become a fixture unless the Lender Bank shall have given its prior written authorization.
Appears in 2 contracts
Samples: Acquisition Facility and Revolving Credit Facility Agreement (Continucare Corp), Acquisition Facility and Revolving Credit Facility Agreement (Continucare Corp)
