No Impairment of Collateral Sample Clauses
The "No Impairment of Collateral" clause ensures that the value and enforceability of collateral provided under an agreement are not diminished or compromised by the actions or omissions of the parties involved. In practice, this means that the party providing collateral must not do anything—such as selling, transferring, or encumbering the collateral—that would reduce its value or make it harder for the secured party to claim it if needed. This clause is essential for protecting the secured party’s interests by maintaining the integrity and availability of the collateral throughout the term of the agreement.
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No Impairment of Collateral. Neither the Borrower nor the Guarantor shall take any action that would impair any Applicable Lender’s rights in the Collateral, except for releases of Collateral otherwise permitted by this Agreement.
No Impairment of Collateral. None of the Collateral shall be impaired or jeopardized because of the security interest granted herein.
No Impairment of Collateral. The Borrower shall not take any action that would knowingly impair any Applicable Lender’s security interest in the Collateral (except for any actions taken with respect to Dispositions, Restricted Payments, Investments and/or releases of Collateral, in each case, otherwise permitted or not restricted by the Loan Documents).
No Impairment of Collateral. Nothing herein contained shall impair any rights of Lender with respect to any Collateral heretofore, now or hereafter granted, assigned, pledged or hypothecated to Lender as security for any of the Senior Obligations, or to the proceeds thereof.
No Impairment of Collateral. No action has been taken by the Lender or the Vendor to materially impair the value of the Borrower’s right, title or interest in, or the security interests granted by the Borrower with respect to the Collateral.
No Impairment of Collateral. During the existence of an Event of Default, Lender may at any time demand, sue for, collect, subordinate, release or make any compromise or settlement with reference to the Collateral as Lender, in its sole discretion, chooses, and Lender may delay exercising or omit to exercise any right or remedy under this Agreement without waiving that or any other past, present or future right or remedy except in writing signed by L▇▇▇▇▇. During the existence of an Event of Default, L▇▇▇▇▇ shall have at any time thereafter the rights and remedies provided in the Uniform Commercial Code in force in Tennessee at the date of execution of this Agreement, and in addition to, substitution for, modification of, or in conjunction with those rights and remedies, Lender or its agents may:
(i) In its discretion, sell, assign and deliver all or any part of the Collateral at public or private sale without notice or advertisement.
(ii) Bid and become purchaser at any public sale.
(iii) If notice to Borrower is required, give written notice to Borrower five (5) days prior to the date of public sale of the Collateral or prior to the date after which private sale of the Collateral will be made by mailing such notice to Borrower as provided herein.
(iv) Apply proceeds of the disposition of Collateral available for satisfaction of B▇▇▇▇▇▇▇’s Indebtedness in any order of preference which L▇▇▇▇▇, in its sole discretion, chooses.
No Impairment of Collateral. Borrower shall not, and shall not permit any of its Affiliates to, take any action that would impair the value of the Collateral Shares or the Share Lending Credit Rights (including the Shares subject to the Share Lending Agreement), or in each case Collateral Agent’s security interest therein or its ability to sell or otherwise realize against such Shares and Share Lending Credit Rights, as the case may be, including without limitation becoming subject to or otherwise suffering to exist any corporate or i▇▇▇▇▇▇ ▇▇▇▇▇▇▇ policy or shareholders’ (or similar) agreement the terms of which would be violated by the existence of this Facility (including the Lender’s security interest under each Security Agreement and the performance of the Borrower’s obligation under certain circumstances to execute and deliver a Shares Security Agreement granting a fiduciary assignment over Collateral Shares under the Collar Loan Documentation) or the Share Lending Agreement, or the enforcement of Lender’s or Collateral Agent’s rights in an exercise of remedies hereunder.
No Impairment of Collateral. Neither the Borrower nor the Guarantor shall take any action that would impair any Secured Party’s rights in the Collateral.
No Impairment of Collateral. None of the Collateral shall be impaired or jeopardized because of the security interest herein granted, except to the extent the granting of a security interest is prohibited, or consent to or notice regarding the granting of a security interest is required, as set forth in the Credit Agreement.
No Impairment of Collateral. Shall not permit the name of any person, association or corporation to be placed on the Collateral as a designation that might be interpreted as a claim of interest in the Collateral;