Common use of Location of Collateral and Records Clause in Contracts

Location of Collateral and Records. The Obligors shall keep the Collateral, their records relating to the Collateral, and their other books, records, journals, orders, receipts and correspondence at only those locations set forth in Subsection 5.13, unless notice is given to the Bank at least thirty (30) days in advance of the removal of the Collateral, and the books, records, journals, orders, receipts and correspondence, to another location, provided, however, that no such removal may be effected before all filings required to be made to preserve the perfected first priority security interest of the Bank in the Collateral shall have been made and the Obligors shall deliver to the Bank a new Landlord's Agreement, in form and substance satisfactory to the Bank, with respect to the new location.

Appears in 1 contract

Sources: Loan and Security Agreement (Teamstaff Inc)

Location of Collateral and Records. The Obligors shall keep the Collateral, their its records relating to the Collateral, and their its other books, records, journals, orders, receipts and correspondence at only those locations set forth in Subsection 5.13, unless notice is given to the Bank at least thirty (30) days in advance of the removal of the CollateralCollateral (if applicable), and the books, records, journals, orders, receipts and correspondence, to another location, location provided, however, that no such removal may be effected before all filings required to be made to preserve the perfected first priority security interest of the Bank in the Collateral shall have been made and the Obligors shall deliver made, subject only to the Bank a new Landlord's Agreement, in form and substance satisfactory to the Bank, with respect to the new locationPermitted Liens.

Appears in 1 contract

Sources: Loan and Security Agreement (Boron Lepore & Associates Inc)

Location of Collateral and Records. The Obligors Borrower shall keep the Collateral, their its records relating to the Collateral, and their its other books, records, journals, orders, receipts and correspondence at only those locations set forth in Subsection 5.13, unless notice is given to the Bank at least thirty (30) days in advance of of, and the Bank consents in writing to, the removal of the Collateral, and the books, records, journals, orders, receipts and correspondence, to another location, location provided, however, that no such removal may be effected before all filings required to be made to preserve the perfected first priority security interest of the Bank in the Collateral shall have been made and with respect to any change in said location, the Obligors Borrower shall deliver to the Bank a new Landlord's AgreementAgreement or Warehouseman's Waiver, in form and substance satisfactory to the Bank, with respect to the new location.

Appears in 1 contract

Sources: Loan and Security Agreement (Forward Industries Inc)