Additions, Withdrawals and Substitutions of Collateral Sample Clauses

Additions, Withdrawals and Substitutions of Collateral. The Trust shall be entitled to withdraw Collateral on the basis of its being in excess of that required or to substitute Qualified Collateral, but in each case only with the prior written approval of the Bank, which approval shall not be unreasonably withheld. If at any time and for any reason any Collateral on deposit with Bank fails to meet the requirements set forth for Qualified Collateral, Bank may demand a substitution of Qualified Collateral therefor, or addition thereto, which demand shall be complied with within 10 days thereafter by the deposit of Qualified Collateral or payment on the Note in such amount as to place the Trust once again in compliance with the requirements of paragraph 6.9 hereof. If at any time the Pledge Value of Qualified Collateral on deposit with Bank falls below that required by paragraph 6.9 hereof, or if the continued receipt by the Trust of payments due and to become due upon the Qualified Collateral will or might cause the Pledge Value of Qualified Collateral remaining after the receipt of such payments by the Trust to fall below that required by paragraph 6.9 hereof (and the Trust agrees to continuously monitor and review the status of compliance and prospective compliance with paragraph 6.9), then, without notice or demand by Bank, the Trust will, within such time as may be required in order to prevent a violation of paragraph 6.9, at its option, take and perform such one or more of the following actions as may be required to insure the continued compliance with paragraph 6.9: (a) The Trust will (and should it fail to do so, the Bank may) promptly notify both the Bank and the respective payors of amounts scheduled
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Related to Additions, Withdrawals and Substitutions of Collateral

  • Locations of Collateral (a) Properties Owned by the Grantor: (b) Properties Leased by the Grantor or other related entity (Include Landlord’s Name): (c) Public Warehouses or other Locations pursuant to Bailment or Consignment Arrangements (include name of Warehouse Operator or other Bailee or Consignee):

  • Limitations on Dispositions of Collateral The Debtor will not sell, transfer, lease, or otherwise dispose of any of the Collateral, or attempt, offer or contract to do so other than dispositions of Inventory in the ordinary course of the Debtor’s business; provided, however that the Debtor will be allowed to grant licenses to its products and related documentation in the ordinary course of business and to establish or provide for escrows of related intellectual property in connection therewith.

  • Maintenance of Collateral Accounts Maintain any Collateral Account except pursuant to the terms of Section 6.6 hereof.

  • Allocations of Collections 35 SECTION 10. Payments..................................................................................................47 SECTION 11.

  • Establishment of Collateral Accounts Securities Intermediary acknowledges and agrees that: (i) it has established and is maintaining on its books and records the accounts identified on the attached Schedule 1 (each such account, together with any replacements thereof or substitutions therefor, the “Collateral Account” and such accounts, collectively, the “Collateral Accounts”) in the name of the Borrower; (ii) each Collateral Account is a “securities account” (within the meaning of Section 8-501(a) of the UCC) in respect of which Securities Intermediary is a “securities intermediary” (within the meaning of Section 8-102(a)(14) of the UCC and, with respect to any Book-Entry Security, within the meaning of Federal Book-Entry Regulations) and the Security Agent is the “entitlement holder” (within the meaning of Section 8-102(a)(7) of the UCC); provided, however, that if, notwithstanding the intention of the parties hereto, all or any portion of the Collateral Account is determined to be a “deposit account” (within the meaning of Section 9-102 of the UCC) rather than a “securities account,” then the Securities Intermediary represents, warrants, covenants and agrees that it is a “bank” (as defined in Section 9-102(a)(8) of the UCC) and will treat the Borrower as its customer (within the meaning of Section 9-104(a)(3) of the UCC) with respect to the Collateral Accounts (or portion thereof); (iii) all property delivered, or to be delivered, to Securities Intermediary pursuant to this Agreement is, and will be, promptly credited to the Collateral Accounts; (iv) it does not know of any claim to or interest in any Collateral Account or any assets or funds therein, except for claims and interests of the parties to this Agreement as set forth herein; and (v) it shall not change the name or account number of any Collateral Account without the prior written consent of the Security Agent. Except as provided in Section 2(b), Securities Intermediary agrees that it shall not take “entitlement orders” (as defined in Section 8-102(a)(8) of the UCC) or “instructions” (within the meaning of Section 9-104(a)(2) of the UCC) with respect to the Collateral Accounts or any assets or funds therein from any Person other than the Security Agent.