Location and Use of Collateral Clause Samples

Location and Use of Collateral. All tangible Collateral will be used in the business of Borrower and shall remain in Borrower’s control at all times at Borrower’s risk of loss and shall be located on the Property.

Location and Use of Collateral. Debtor Represents and Warrants That: The Collateral will be used primarily for (check one): personal, family, or household purposes: business. ▇▇▇▇▇▇’s residence (principal place of business) is that shown with ▇▇▇▇▇▇’s name above. The Collateral is or will be located at county, State/Commonwealth of . Debtor will not permit any of the Collateral to be removed from this county without the prior written consent of Secured Party. The Collateral may be attached to real estate commonly known as (street address) in such a manner as to become a fixture. Debtor will furnish Secured Party a legal description of the real estate. The name of the record owner of the real estate is . On demand of Secured Party, ▇▇▇▇▇▇ will furnish a written disclaimer of any interest in the Collateral by the record owner and any encumbrancer of the real property. The proceeds of the obligation(s) secured by this agreement are to be used to purchase all or part of the Collateral. Secured Party is authorized to disburse the proceeds directly to the installers or suppliers of the Collateral.

Location and Use of Collateral. Debtor has good, marketable and unencumbered title to the Collateral which it has acquired. Debtor will have good, marketable and unencumbered title to the Collateral which Debtor will acquire in the future. Debtor covenants that the Collateral will be used primarily for Debtor’s business. The Collateral is or will be located at the property commonly known as ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ in East Norriton Township, ▇▇▇▇▇▇▇▇▇▇ County, Pennsylvania described in Exhibit “B” (the “Property”). Debtor will not permit any of the Collateral to be removed from the Property without the prior written consent of the Department. It is the Debtor’s intent that the Collateral will not be permanently attached to the Property in such a manner as to become a fixture under Pennsylvania law, including without limitation the Pennsylvania Uniform Commercial Code. In the event that the Collateral is attached to the Property in such a manner as to become a fixture, the security interest created by this Security Agreement and the security interest and liens granted hereunder will attach to the fixtures. The Debtor is the lessee of the Property as evidenced by a copy of a Lease furnished to and reviewed by the Department. If requested by the Department, Debtor will furnish a written disclaimer of any interest in the Collateral by any encumbrancer of the Property. The proceeds of the obligation secured hereby will be used to purchase the Collateral and the security interest will create, upon filing of financing statements in the required offices, a perfected first lien upon the Collateral.

Location and Use of Collateral. Grantor (a) shall keep all records pertaining to Collateral, at or affixed to the location of its chief executive office set forth on Schedule A or such other place or places as described on Schedule G attached hereto or as it may designate in a writing delivered to the Lender thirty (30) days before moving such Collateral or records to another place, and may use such Collateral only for purposes for which it is commonly employed in Grantor's type of business; (b) on or prior to the date hereof or as soon as practicable thereafter but in any event within twenty one (21) days after such an item of property becomes Collateral, shall deliver to the Lender all Instruments, Documents and Chattel Paper related to the Collateral, with all endorsements or assignments necessary, or in the Lender's judgment reasonably appropriate, for each item of such Collateral to be transferable; and (c) shall keep the proceeds of all Collateral segregated from property that is not Collateral or proceeds thereof so that it may readily be identified as proceeds of Collateral.

Location and Use of Collateral. Debtor Represents and Warrants That: The Collateral will be used primarily for (check one): ☐ personal, family, or household purposes: ☐ business. ▇▇▇▇▇▇’s residence (principal place of business) is that shown with ▇▇▇▇▇▇’s name above. The Collateral is or will be located at county, State/Commonwealth of . Debtor will not permit any of the Collateral to be removed from this county without the prior written consent of Secured Party. The Collateral may be attached to real estate commonly known as (street address) in such a manner as to become a fixture. Debtor will furnish Secured Party a legal description of the real estate. The name of the record owner of the real estate is (First Name) (Last Name). On demand of Secured Party, ▇▇▇▇▇▇ will furnish a written disclaimer of any interest in the Collateral by the record owner and any encumbrancer of the real property. The proceeds of the obligation(s) secured by this agreement are to be used to purchase all or part of the Collateral. Secured Party is authorized to disburse the proceeds directly to the installers or suppliers of the Collateral.

Location and Use of Collateral. All tangible Collateral will be used in the business of Borrower and shall remain in Borrower’s control at all times at Borrower’s risk of loss and shall be located on the Property. The Property shall not be used to sell, grow, produce, or distribute cannabis or for any service directly related to the sale, growth, production, or distribution of cannabis.

Location and Use of Collateral. All of the records pertaining to the Collateral are and will be kept at the address of Company indicated at the beginning of this Agreement, and Company will not remove any material part of the Collateral without the prior express written consent of Bank: and the Collateral will only be used for the business operations of Company and in a manner not inconsistent with any of the terms of this Agreement.

Location and Use of Collateral. You agree to notify us in writing of any change of your address or of any change in the location of the Collateral. Unless you first have received our written consent, you may not take the Collateral out of the State shown in Section D in the section entitled “Address Where Collateral Will Be Located” and you may not sell, lease or otherwise dispose of the Collateral or any part of it by any means. You will comply with all laws, ordinances, regulations and orders relating to the Collateral. You will keep the Collateral in good condition and will not alter or substantially modify it or conceal it. You will not allow any other security interest on the Collateral besides the security interest granted to us under this contract. Inspection of the Collateral: We may inspect the Collateral at any reasonable time. Taxes: You are responsible for and will pay when due all taxes and assessments levied on the Collateral. If you fail to do so, we may pay any such tax or assessment on your behalf. An amount equal to that which we paid will be added to the Total of Payments then owing and you will be charged a finance charge on the amount we paid at the highest lawful contract rate.