Material Loss. There occurs any material loss, theft, damage or destruction not fully covered by insurance, or any sale, lease or encumbrance or any of the Collateral or the making of any levy, seizure, or attachment thereof or thereon, except in all cases as may be specifically permitted by other provisions of this Agreement.
Appears in 2 contracts
Sources: Loan and Security Agreement (Setech Inc /De), Loan and Security Agreement (Setech Inc /De)
Material Loss. There occurs any material loss, theft, damage or destruction not fully covered by insurance, or any sale, lease or encumbrance or of any of the Collateral of any Borrower or Guarantor Subsidiary or the making of any levy, seizure, or attachment thereof or thereon, except in all cases as may be specifically permitted by other provisions of this Agreement.
Appears in 1 contract
Sources: Loan and Security Agreement (Jan Bell Marketing Inc)