Common use of Actions with Respect to Collateral Clause in Contracts

Actions with Respect to Collateral. Except as heretofore disclosed by the Debtor to the Secured Party in writing, the Debtor has not (i) sold, leased or otherwise disposed of any of the Collateral or any interest or right in any of the Collateral, (ii) extended, renewed, refinanced or otherwise modified or replaced, compromised, canceled, discharged, subordinated, accelerated, waived, forborne from exercising any right, remedy or power relating to or adversely affected any obligation of any Person (including, but not limited to, any Account Debtor, Issuer, Bank, Securities Intermediary or Commodity Intermediary) relating to any of the Collateral or (iii) manufactured, used, operated, advertised or otherwise promoted, permitted the manufacture, use, operation or advertising or other promotion of or sold, leased or otherwise disposed of any of the Collateral in any manner that violated or resulted in any violation of applicable law (including, but not limited to, the Fair Labor Standards Act or any environmental or criminal statute) or any policy providing any insurance on any of the Collateral.