Common use of Transactions Involving Collateral Clause in Contracts

Transactions Involving Collateral. Except for inventory sold or accounts collected in the ordinary course of Grantor’s business. or as otherwise provided for in this Agreement, Granter shall not sell, offer to sell, or otherwise transfer or dispose of the Collateral. Wl1ite Grantor is not in default under this Agreement, Granter may sell inventory, but only in the ordinary course of its business and only to buyers ,,vt10 qualify as a buyer in the ordinary course of business. A sale in the ordinary course of Gxxxxxx’s business does not include a transfer in partial or total satisfaction of a debt or any bulk sale. Granter shall not pledge, mortgage, encumber or otherwise permit the Collateral to be subject to any lien, security interest, encumbrance, or charge, other than the security interest provided for in this Agreement. without the prior written consent of Lxxxxx. This includes security interests even if junior in right to the security interests granted under this Agreement. Unless waived by Lxxxxx, all proceeds from any disposition of the Collateral (for whatever reason) shall be held in trust for Lender and shall not be commingled with any other funds; provided however, this requirement shall not constitute consent by Lender to any sale or other disposition. Upon receipt, Granter shall immediately deliver any such proceeds to Lender. Title. Granter represents and warrants to Lender that Granter holds good and marketable title to the Collateral, free and clear of all liens and encumbrances except for the lien of this Agreement. No financing statement covering any of the Collateral is on file in any public office other than those which reflect the security interest created by this Agreement or to which Lender has specifically consented. Granter shall defend Lxxxxx’s rights in the Collateral against the claims and demands of all other persons.

Transactions Involving Collateral. Except for inventory sold or accounts collected in the ordinary course of Grantor’s 's business. or , and as otherwise provided for in this AgreementAgreement or the Credit Agreement (“Permitted Sales”), Granter Grantor shall not sell, offer to sell, or otherwise transfer or dispose of the Collateral. Wl1ite Grantor While no Event of Default is not in default continuing under this Agreement, Granter Grantor may sell inventory, but only in the ordinary course of its business and only to buyers ,,vt10 who qualify as a buyer in the ordinary course of business. A sale in the ordinary course of Gxxxxxx’s Grantor's business does not include a transfer in partial or total satisfaction of a debt or any bulk sale. Granter Except for Liens (as defined in the Credit Agreement) permitted by Section 7.3 of the Credit Agreement, Grantor shall not pledge, mortgage, encumber or otherwise permit the Collateral to be subject to any lien, security interest, encumbrance, or charge, other than the security interest provided for in this Agreement. , without the prior written consent of LxxxxxAgent. This includes security interests even if junior in right to the security interests granted under this Agreement. Unless Except with respect to Permitted Sales, unless waived by LxxxxxAgent, all proceeds from any disposition of the Collateral (for whatever reason) shall be held in trust for Lender Agent for the benefit of the Lenders and shall not be commingled with any other funds; provided however, this requirement shall not constitute consent by Lender Agent to any sale or other disposition. Upon receipt, Granter Grantor shall immediately deliver any such proceeds held in trust to LenderAgent. If any of the Collateral shall be sold, transferred or otherwise disposed of by any Grantor in a Permitted Sale, then the security interest created pursuant to this Agreement in such Collateral shall be released, and the term “Collateral” shall cease to include the assets or property so released, provided that Grantor is in compliance with the provisions hereof. Title. Granter Grantor represents and warrants to Lender Agent that Granter Grantor holds good and marketable title to the Collateral, free and clear of all liens and encumbrances except for the lien of this Agreement and Liens permitted by Section 7.3 of the Credit Agreement. No financing statement covering any of the Collateral is on file in any public office other than those which reflect the security interest created by this Agreement or to which Lender Agent has specifically consented. Granter Grantor shall defend Lxxxxx’s Agent's rights in the Collateral against the claims and demands of all other persons.

Transactions Involving Collateral. Except for inventory sold or accounts collected in the ordinary course of GrantorBorrower’s business. , or as otherwise provided for in this Agreement, Granter Borrower shall not sell, offer to sell, or otherwise transfer or dispose of the Collateral. Wl1ite Grantor is not in default So long as no Event of Default has occurred under this Agreement, Granter Grantor may sell inventory, but only in the ordinary course of its business and only to buyers ,,vt10 who qualify as a buyer in the ordinary course of business. A sale in the ordinary course of GxxxxxxBorrower’s business does not include a transfer in partial or total satisfaction of a debt or any bulk sale. Granter Borrower shall not pledge, mortgage, encumber or otherwise permit the Collateral to be subject to any lien, security interest, encumbrance, or charge, other than the security interest provided for in this Agreement. , without the prior written consent of LxxxxxLender. This includes security interests even if junior in right to the security interests granted under this Agreement. Unless waived by LxxxxxLender, all proceeds (cash and non-cash) from any disposition of the Collateral (for whatever reason) shall be held in trust for Lender and shall not be commingled with any other funds; provided however, this requirement shall not constitute consent by Lender to any sale or other disposition. Upon receipt, Granter Borrower shall immediately deliver any such proceeds to Lender. Title. Granter represents and warrants to Lender that Granter holds good and marketable title to the Collateral, free and clear of all liens and encumbrances except for the lien of this Agreement. No financing statement covering any of the Collateral is on file in any public office other than those which reflect the security interest created by this Agreement or to which Lender has specifically consented. Granter shall defend Lxxxxx’s rights in the Collateral against the claims and demands of all other persons.

Transactions Involving Collateral. Except for inventory sold or accounts collected in the ordinary course of Grantor’s 's business. or as otherwise provided for in this Agreement, Granter Grantor shall not sell, offer to sell, or otherwise transfer or dispose of the Collateral. Wl1ite While Grantor is not in default under this Agreement, Granter Grantor may sell inventory, but only in the ordinary course of its business and only to buyers ,,vt10 who qualify as a buyer in the ordinary course of business. A sale in the ordinary course of Gxxxxxx’s Grantor's business does not include a transfer in partial or total satisfaction of a debt or any bulk sale. Granter Grantor shall not pledge, mortgage, encumber or otherwise permit the Collateral to be subject to any lien, security interest, encumbrance, or charge, other than the security interest provided for in this Agreement. , without the prior written consent of LxxxxxLender. This includes security interests even if junior in right to the security interests granted under this Agreement. Unless waived by LxxxxxLender, all proceeds from any disposition of the Collateral (for whatever reason) shall be held in trust for Lender and shall not be commingled with any other funds; provided however, this requirement shall not constitute consent by Lender to any sale or other disposition. Upon receipt, Granter Grantor shall immediately deliver any such proceeds to Lender. Title. Granter : Grantor represents and warrants to Lender that Granter it holds good and marketable title to the Collateral, free and clear of all liens and encumbrances except for the lien of this Agreement. No financing statement covering any of the Collateral is on file in any public office other than those which reflect the security interest created by this Agreement or to which Lender has specifically consented. Granter Grantor shall defend Lxxxxx’s Lender's rights in the Collateral against the claims and demands of all other persons.

Transactions Involving Collateral. Except for inventory sold or accounts collected in the ordinary course of Grantor’s business. , or as otherwise provided for in this Agreement, Granter Grantor shall not sell, offer to sell, or otherwise transfer or dispose of the Collateral. Wl1ite While Grantor is not in default under this Agreement, Granter Grantor may sell inventory, but only in the ordinary course of its business and only to buyers ,,vt10 who qualify as a buyer in the ordinary course of business. A sale in the ordinary course of Gxxxxxx’s business does not include a transfer in partial or total satisfaction of a debt or any bulk sale. Granter Grantor shall not pledge, mortgage, encumber or otherwise permit the Collateral to be subject to any lien, security interest, encumbrance, or charge, other than the security interest provided for in this Agreement. , without the prior written consent of LxxxxxLender. This includes security interests even if junior in right to the security interests granted under this Agreement. Unless waived by Lxxxxx, all proceeds from any disposition of the Collateral (for whatever reason) shall be held in trust for Lender and shall not be commingled with any other funds; provided however, this requirement shall not constitute consent by Lender to any sale or other disposition. Upon receipt, Granter Grantor shall immediately deliver any such proceeds to Lender. Title. Granter Grantor represents and warrants to Lender that Granter Grantor holds good and marketable title to the Collateral, free and clear of all liens and encumbrances except for the lien of this Agreement. The liens granted hereby are not the type of lien referred to in Chapter 575 of the Iowa Code Supplement, as now enacted or hereafter modified, amended or replaced. Grantor, for itself and all persons claiming by, through or under Gxxxxxx, agrees that it claims no lien or right to a lien of the type contemplated by Chapter 575 or any other chapter of the Code of Iowa and further waives all notices and rights pursuant to said law with respect to the liens hereby granted, and represents and warrants that it is the sole party entitled to do so and agrees to indemnify, defend, and hold harmless Lender from any loss, damage, and costs, including reasonable attorney fees, threatened or suffered by Lxxxxx xxxxxxx either directly or indirectly as a result of any claim of the applicability of said law to the liens hereby granted. No financing statement covering any of the Collateral is on file in any public office other than those which reflect the security interest created by this Agreement or to which Lender has specifically consented. Granter Grantor shall defend Lxxxxx’s rights in the Collateral against the claims and demands of all other persons.

Transactions Involving Collateral. Except for inventory Inventory sold or accounts collected in the ordinary course of Grantor’s 's business. , or as otherwise provided for in this Agreement, Granter Grantor shall not sell, offer to sell, or otherwise transfer or dispose of the Collateral. Wl1ite While Grantor is Is not in In default under this Agreement, Granter Grantor may sell inventoryInventory, but only in the ordinary course of its business and only to buyers ,,vt10 qualify who quality as a buyer in the ordinary course of business. A sale safe in the ordinary course of Gxxxxxx’s Xxxxxxx's business does not include Include a transfer in partial or total satisfaction of a debt or any bulk sale. Granter Grantor shall not pledge, mortgage, encumber or otherwise permit the Collateral to be subject to any lien, security interest, encumbrance, or charge, other than the security interest provided for in this Agreement. , without (Continued) the prior written consent of LxxxxxLender. This includes security interests even if If junior in In right to the security interests granted under this Agreement. Unless waived by LxxxxxXxxxxx, all proceeds from any disposition of the Collateral (for whatever reason) shall be held hold in trust for Lender and shall not be commingled with any other funds; provided however, this requirement shall not constitute consent by Lender to any sale or other disposition. Upon receipt, Granter Grantor shall immediately deliver any such proceeds to Lender. , Title. Granter Grantor represents and warrants to Lender that Granter Grantor holds good and marketable title to the Collateral, free and clear of all liens lions and encumbrances except for the lien of this Agreement. No financing statement covering any of the Collateral is Is on file in In any public office other than those which reflect the security interest created by this Agreement or to which Lender has specifically consented. Granter Grantor shall defend Lxxxxx’s Xxxxxx's rights in the Collateral against the claims and demands of all other persons.