Common use of Possession and Transfer of Collateral Clause in Contracts

Possession and Transfer of Collateral. Unless an Event of Default has occurred and is continuing hereunder, the Borrower shall be entitled to possession or use of the Collateral. Except as otherwise expressly permitted hereunder, the Borrower shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower may sell Inventory in the ordinary course of business.

Possession and Transfer of Collateral. Unless an Event of Default has occurred occurs and is continuing hereunder, the Borrower shall be entitled to possession or and use of the Collateral. Except as otherwise expressly permitted hereunderto an Affiliate, the Borrower shall not sell, assign (by operation of law or otherwise), license, lease lease, or otherwise dispose of, or grant any option with respect to of any of the CollateralCollateral without the prior written consent of Lender, except that the Borrower may sell Inventory in the ordinary course of businesswhich consent shall not be unreasonably withheld, conditioned, or delayed.

Possession and Transfer of Collateral. Unless an Event of Default has occurred and is continuing exists hereunder, the Borrower shall be entitled to possession or use of the Collateral. Except as otherwise expressly permitted hereunder, the The Borrower shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower may sell Inventory inventory and worn, damaged, or obsolete equipment in the ordinary course of business.