Additional Negative Pledges. Customer will not, directly or indirectly, create or otherwise cause or permit to exist or become effective any contractual obligation which may restrict or inhibit IBM Credit's rights or ability to sell or otherwise dispose of the Collateral or any part thereof after the occurrence and during the continuance of an Event of Default.
Appears in 21 contracts
Sources: Inventory and Working Capital Financing Agreement (Datatec Systems Inc), Inventory and Working Capital Financing Agreement (Datatec Systems Inc), Financing Agreement (Syscomm International Corp)
Additional Negative Pledges. Customer will not, directly or indirectly, create or otherwise cause or permit to exist or become effective any contractual obligation which may restrict or inhibit IBM Credit's rights or ability to sell or otherwise dispose of the Collateral or any part thereof after the occurrence and during the continuance of an Event of Default, except where IBM Credit has otherwise executed an intercreditor agreement which contemplates such restrictions.
Appears in 1 contract
Sources: Inventory Financing Agreement (En Pointe Technologies Inc)
Additional Negative Pledges. No Customer will notwill, directly or indirectly, create or otherwise cause or permit to exist or become effective any contractual obligation which may restrict or inhibit IBM Credit's ’s rights or ability to sell or otherwise dispose of the Collateral or any part thereof after the occurrence and during the continuance of an Event of Default.
Appears in 1 contract