Common use of Transfer of Collateral Clause in Contracts

Transfer of Collateral. Transfer, or permit the transfer, to another location of any of the Collateral or the books and records related to any of the Collateral; provided, however, that the Borrower may transfer the Collateral or the books and records related thereto to another location if the Borrower shall have provided to the Agent prior to such transfer an opinion of counsel addressed to the Agent to the effect that the Lenders' perfected security interest shall not be affected by such move or if it shall be affected, setting forth the steps necessary to continue the Lender's perfected security interest together with the commencement of such steps by the Borrower at its expense.

Appears in 3 contracts

Samples: Financing and Security Agreement (Sunrise Assisted Living Inc), Financing and Security Agreement (Alternative Living Services Inc), Financing and Security Agreement (Alternative Living Services Inc)

AutoNDA by SimpleDocs

Transfer of Collateral. Transfer, or permit the transfer, to another location of any of the Collateral or the books and records related to any of the Collateral; provided, however, that the Borrower Borrowers may transfer the Collateral or the books and records related thereto to another location if the Borrower Borrowers shall have provided to the Agent prior to such transfer an opinion of counsel addressed to the Agent to the effect that the Lenders' perfected security interest shall not be affected by such move or if it shall be affected, setting forth the steps necessary to continue the Lender's perfected security interest together with the commencement of such steps by the Borrower Borrowers at its their expense.

Appears in 2 contracts

Samples: Financing and Security Agreement (American Retirement Corp), Financing and Security Agreement (American Retirement Corp)

Transfer of Collateral. Transfer, or permit the transfer, to another location of any of the Collateral or the books and records related to any of the Collateral; provided, however, that the Borrower Borrowers may transfer the Collateral or the books and records related thereto to another location if the Borrower Borrowers shall have provided to the Administrative Agent prior to such transfer an opinion of counsel addressed to the Administrative Agent to the effect that the Lenders' perfected security interest shall not be affected by such move or if it shall be affected, setting forth the steps necessary to continue the Lender's perfected security interest together with the commencement of such steps by the Borrower Borrowers at its expense.

Appears in 2 contracts

Samples: Financing and Security Agreement (Sunrise Assisted Living Inc), Financing and Security Agreement (Sunrise Assisted Living Inc)

Transfer of Collateral. Transfer, or permit the transfer, to another location of any of the Collateral or the books and records related to any of the Collateral; provided, however, that the Borrower Borrowers may transfer the Collateral or the books and records related thereto to another location if the Borrower Borrowers shall have provided to the Administrative Agent prior to such transfer an opinion of counsel addressed to the Administrative Agent to the effect that the Lenders' perfected security interest shall not be affected by such move or if it shall be affected, setting forth the steps necessary to continue the Lender's Lenders' perfected security interest together with the commencement of such steps by the Borrower Borrowers at its their expense.

Appears in 2 contracts

Samples: Financing and Security Agreement (Sunrise Assisted Living Inc), Financing and Security Agreement (Sunrise Assisted Living Inc)

Transfer of Collateral. Transfer, or permit the transfer, to another location of any of the Collateral or the books and records related to any of the Collateral; provided, however, that the Borrower Borrowers may transfer the Collateral or the books and records related thereto to another location if the Borrower Borrowers shall have provided to the Agent Lender, prior to such transfer transfer, an opinion of counsel addressed to the Agent to the effect that the Lenders' perfected security interest shall not be affected by such move or if it shall be affected, setting forth the steps necessary to continue the Lender's perfected security interest together with the commencement of such steps by the Borrower at its expense.the

Appears in 1 contract

Samples: Financing and Security Agreement (Sunrise Assisted Living Inc)

Transfer of Collateral. Transfer, or permit the transfer, to another location of any of the Collateral or the books and records related to any of the Collateral; provided, however, that the Borrower may transfer the Collateral or the books and records related thereto to another location if (a) the Borrower shall have provided to the Agent prior to such transfer an opinion of counsel addressed to the Agent to the effect that the Lenders' Agent's perfected security interest shall not be affected by such move or if it shall be affected, setting forth the steps necessary to continue the LenderAgent's perfected security interest together with the commencement of such steps by the Borrower at its expense, and shall have taken such steps, or (b) such Collateral is immaterial in value and constitutes items or goods used, consumed, leased or sold in the ordinary course of business.

Appears in 1 contract

Samples: Financing and Security Agreement (Fti Consulting Inc)

Transfer of Collateral. Transfer, or permit the transfer, to another location of any of the Collateral or the books and records related to any of the Collateral; provided, however, that the Borrower may transfer the Collateral or the books and records related thereto to another location if if(a) the Borrower shall have provided to the Agent Lender prior to such transfer an opinion of counsel addressed to the Agent Lender to the effect that the Lenders' Lender's perfected security interest shall not be affected by such move or if it shall be affected, setting forth the steps necessary to continue the Lender's perfected security interest together with the commencement of such steps by the Borrower at its expense, and (b) shall have taken such steps.

Appears in 1 contract

Samples: Financing and Security Agreement (National Techteam Inc /De/)

AutoNDA by SimpleDocs

Transfer of Collateral. Transfer, or permit the transfer, to another location of any of the Collateral or the books and records related to any of the Collateral; provided, however, that the Borrower may transfer the Collateral or the books and records related thereto to another location if the Borrower shall have provided to the Agent Lender prior to such transfer an opinion of counsel addressed to the Agent Lender to the effect that the Lenders' Lender’s perfected security interest shall not be affected by such move or if it shall be affected, setting forth the steps necessary to continue the Lender's ’s perfected security interest together with the commencement of such steps by the Borrower at its expense.

Appears in 1 contract

Samples: Loan and Security Agreement (Sunrise Senior Living Inc)

Transfer of Collateral. Transfer, or permit the transfer, to another location of any of the Collateral or the books and records related to any of the Collateral; provided, however, that the Borrower may transfer the Collateral or the books and records related thereto to another location if the Borrower shall have provided to the Agent prior to such transfer an opinion of counsel addressed to the Agent to the effect that the Lenders' Agent’s perfected security interest shall not be affected by such move or if it shall be affected, setting forth the steps necessary to continue the Lender's Agent’s perfected security interest together with the commencement of such steps by the Borrower at its expense.

Appears in 1 contract

Samples: Loan and Security Agreement (Sunrise Senior Living Inc)

Transfer of Collateral. Transfer, or permit the transfer, to another location of any of the Collateral or the books and records related to any of the Collateral; provided, however, that the Borrower may transfer the Collateral or the books and records related thereto to another location if the Borrower shall have has provided to the Agent Lender prior to such transfer an opinion of counsel addressed to the Agent Lender to the effect that the Lenders' Lender's perfected security interest shall not be affected by such move or if it shall be affected, setting forth the steps necessary to continue the Lender's perfected security interest together with the commencement of such steps by the Borrower at its expense.

Appears in 1 contract

Samples: Loan and Security Agreement (Sunrise Assisted Living Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.