Common use of Collateral Locations Clause in Contracts

Collateral Locations. Neither the location of the principal place of business and chief executive office of the Borrower as set forth on Exhibit 6.7, the locations of Collateral as set forth on Exhibit 8.6 nor the corporate name or mailing address of the Borrower shall be changed, nor shall there be established additional places of business or additional locations at which Collateral is stored, kept or processed unless (i) the Borrower shall have given the Agent not less than 30 days prior written notice thereof, (ii) the Agent shall have determined that, after giving effect to any such change of name, address or location, the Agent shall have a first perfected Lien in the Collateral except for Permitted Liens, (iii) in the case of Collateral locations, the Borrower shall have delivered a landlord waiver or bailee letter, as applicable, in form and substance satisfactory to the Agent with respect to such location, and (iv) all negotiable documents and receipts in respect of any Collateral maintained at such premises are promptly delivered to the Agent. Prior to making any such change or establishing such new location, the Borrower shall execute any additional financing statements or other documents or notices required by the Agent.

Appears in 1 contract

Sources: Loan and Security Agreement (Plainwell Inc)

Collateral Locations. Neither the location of the principal place of business and chief executive office of the Borrower or any Subsidiary as set forth on Exhibit 6.7Schedule 10.16, the locations of Collateral as set forth on Exhibit 8.6 Schedule 11.29, nor the corporate name or mailing address of the Borrower or any Subsidiary shall be changed, nor shall there be established additional places of business or additional locations at which Collateral is stored, kept or processed unless unless (i) the Borrower shall have given the Agent not less than 30 thirty (30) days prior written notice thereof, (ii) the Agent shall have determined that, after giving effect to any such change of name, address or location, the Agent shall have a first perfected Lien in the Collateral except for Permitted Liens, (iii) in 74 the case of Collateral locations, the Borrower shall have delivered a landlord waiver or bailee letter, as applicable, in form and substance satisfactory to the Agent with respect to such location, and (iv) all negotiable documents and receipts in respect of any Collateral maintained at such premises are promptly delivered to the Agent. Prior to making any such change or establishing such new location, Borrower or a Subsidiary, as the Borrower case may be, shall execute any additional financing statements or other documents or notices required by Agent. All Collateral located at any such new location shall automatically without further action by Agent be deemed ineligible to constitute Eligible Accounts or Eligible Inventory, as the Agentcase may be, until Borrower shall have complied with the requirements of this Section 11.29 and Section 11.24.

Appears in 1 contract

Sources: Secured Credit Agreement (Gibraltar Packaging Group Inc)

Collateral Locations. Not sell any of the Inventory on a guaranteed sale, sale-and-return, sale on approval or consignment basis or any other basis subject to a repurchase obligation or return right. Neither the location of the principal place of business and chief executive office of the any Borrower as set forth on Exhibit 6.7SCHEDULE 10.29, the locations of Collateral as set forth on Exhibit 8.6 SCHEDULE 10.29 nor the corporate name or mailing address of the Borrower any Obligor shall be changed, nor shall there be established additional places of business or additional locations at which Collateral is stored, kept or processed unless (i) the Borrower such Obligor shall have given the Agent Lender not less than 30 thirty (30) days prior written notice thereof, (ii) the Agent Lender shall have determined that, after giving effect to any such change of name, address or location, the Agent Lender shall have a first perfected Lien in the Collateral except for Permitted Liens, (iii) in the case of Collateral locations, the Borrower such Obligor shall have delivered a landlord waiver or bailee letter, as applicable, in form and substance satisfactory to the Agent Lender with respect to such location, and (iv) all negotiable documents and receipts in respect of any Collateral maintained at such premises are promptly delivered to the AgentLender. Prior to making any such change or establishing such new location, the Borrower Obligors shall execute any additional financing statements or other documents or notices required by Lender. All Collateral located at any such new location shall automatically without further action by Lender be deemed ineligible to constitute Eligible Accounts or Eligible Inventory, as the Agentcase may be, until Obligors shall have complied with the requirements of this SECTION 11.29 and SECTION 11.24.

Appears in 1 contract

Sources: Secured Credit Agreement (Tro Learning Inc)

Collateral Locations. The Borrower shall not, and shall not permit any Subsidiary to, sell any of the Inventory on a guaranteed sale, sale-and-return, sale on approval or consignment basis or any other basis subject to a repurchase obligation or return right. Neither the location of the principal place of business and chief executive office of the Borrower as set forth on Exhibit EXHIBIT 6.7, the locations of items of Collateral as set forth on Exhibit in EXHIBIT 8.6 nor the corporate name or mailing address of the Borrower shall be changed, nor shall there be established additional places of business or additional locations at which Collateral is stored, kept or processed unless (i) the Borrower shall have given the Agent not less than 30 days prior written notice thereof, (ii) the Agent shall have determined that, after giving effect to any such change of name, address or location, the Agent shall have a first perfected Lien in the Collateral except for Permitted Liens, (iii) in the case of Collateral locations, the Borrower shall have delivered a landlord waiver or bailee letter, as applicable, in form and substance satisfactory to the Agent with respect to such location, and (iv) all negotiable documents and receipts in respect of any Collateral maintained at such premises are promptly delivered to the Agent. Prior to making any such change or establishing such new location, the Borrower shall execute any additional financing statements or other documents or notices required by the Agent.

Appears in 1 contract

Sources: Loan and Security Agreement (Brothers Gourmet Coffees Inc)

Collateral Locations. Neither the location of the principal place of business and chief executive office of the any Borrower as set forth on Exhibit 6.7, the locations of Collateral as set forth on Exhibit 8.6 nor the corporate name or mailing address of the any Borrower shall be changed, nor shall there be established additional places of business or additional locations at which Collateral is stored, kept or processed unless (i) the applicable Borrower shall have given the Agent not less than 30 days prior written notice thereof, (ii) the Agent shall have determined that, after giving effect to any such change of name, address or location, the Agent shall have a first perfected Lien in the Collateral except for Permitted Liens, (iii) in the case of Collateral locations, the applicable Borrower shall have delivered a landlord waiver or bailee letter, as applicable, in form and substance satisfactory to the Agent with respect to such location, and (iv) all negotiable documents and receipts in respect of any Collateral maintained at such premises are promptly delivered to the Agent. Prior to making any such change or establishing such new location, the Borrower Borrowers shall execute any additional financing statements or other documents or notices required by the Agent. All Collateral located at any such new location shall automatically be deemed ineligible without further action by the Agent or any Lender to constitute Eligible Accounts until the Borrowers shall have complied with the requirements of this subsection 8.6 and subsection 7.9.

Appears in 1 contract

Sources: Loan and Security Agreement (Lois/Usa Inc)

Collateral Locations. Neither the location of the principal place of business and chief executive office of the any Borrower as set forth on Exhibit EXHIBIT 6.7, the locations of Collateral as set forth on Exhibit EXHIBIT 8.6 nor the corporate name or mailing address of the any Borrower shall be changed, nor shall there be established additional places of business or additional locations at which Collateral is stored, kept or processed unless (i) the applicable Borrower shall have given the Agent not less than 30 days prior written notice thereof, (ii) the Agent shall have determined that, after giving effect to any such change of name, address or location, the Agent shall have a first perfected Lien in the Collateral except for Permitted Liens, (iii) in the case of Collateral locations, the applicable Borrower shall have delivered a landlord waiver or bailee letter, as applicable, in form and substance satisfactory to the Agent with respect to such location, and (iv) all negotiable documents and receipts in respect of any Collateral maintained at such premises are promptly delivered to the Agent. Prior to making any such change or establishing such new location, the Borrower Borrowers shall execute any additional financing statements or other documents or notices required by the Agent. All Collateral located at any such new location shall automatically be deemed ineligible without further action by the Agent or any Lender to constitute Eligible Accounts until the Borrowers shall have complied with the requirements of this SUBSECTION 8.6 and SUBSECTION 7.9.

Appears in 1 contract

Sources: Loan and Security Agreement (Lois/Usa Inc)

Collateral Locations. Neither the location of the principal place of business and chief executive office of the Borrower as set forth on Exhibit 6.7, the locations of Collateral as set forth on Exhibit 8.6 nor the corporate name or mailing address of the Borrower shall be changed, nor shall there be established additional places of business or additional locations at which Collateral is stored, kept or processed unless (i) the Borrower shall have given the Agent not less than 30 days prior written notice thereof, (ii) the Agent shall have determined that, after giving effect to any such change of name, address or location, the Agent shall have a first perfected Lien in the Collateral except for Permitted Liens, (iii) in the case of new Collateral locations, the Borrower shall have delivered a landlord waiver or bailee letter, as applicable, in form and substance satisfactory to the Agent with respect to such location, and (iv) all negotiable documents and receipts in respect of any Collateral maintained at such premises are promptly delivered to the Agent; provided that the Borrower may close the Facility located in Atlanta, Georgia. Prior to making any such change or establishing such new location, the Borrower shall execute any additional financing statements or other documents or notices required by the Agent. All Collateral located at any such new location shall automatically be deemed ineligible without further action by the Agent or any Lender to constitute Eligible Accounts or Eligible Inventory, as the case may be, until the Borrower shall have complied with the requirements of this subsection 8.6 and subsection 7.

Appears in 1 contract

Sources: Loan and Security Agreement (Telular Corp)

Collateral Locations. Neither the location of the principal place of business and chief executive office of the any Borrower as set forth on Exhibit EXHIBIT 6.7, the locations of Collateral as set forth on Exhibit EXHIBIT 8.6 nor the corporate name or mailing address of the any Borrower shall be changed, nor shall there be established additional places of business or additional locations at which Collateral is stored, kept or processed unless (i) the applicable Borrower shall have given the Agent not less than 30 days prior written notice thereof, (ii) the Agent shall have determined that, after giving effect to any such change of name, address or location, the Agent shall have a first perfected Lien in the Collateral except for Permitted Liens, (iii) in the case of Collateral locations, the applicable Borrower shall have delivered a landlord waiver or bailee letter, as applicable, in form and substance satisfactory to the Agent with respect to such location, and (iv) all negotiable documents and receipts in respect of any Collateral maintained at such premises are promptly delivered to the Agent. Prior to making any such change or establishing such new location, the Borrower Borrowers shall execute any additional financing statements or other documents or notices required by the Agent. All Collateral located at any such new location shall automatically be deemed ineligible without further action by the Agent or any Lender to constitute Eligible Accounts until the Borrowers shall have complied with the requirements of this subsection 8.6 and SUBSECTION 7.9.

Appears in 1 contract

Sources: Loan and Security Agreement (Lois/Usa Inc)