Common use of RESTRICTIONS ON DEALING WITH COLLATERAL Clause in Contracts

RESTRICTIONS ON DEALING WITH COLLATERAL. The Corporation shall not, without the prior consent in writing of the Lender: 4.1.1. sell, assign, transfer, exchange, or otherwise dispose of the Collateral except to the extent permitted by section 4. 4.1. 1; or 4.1.2. create, assume or suffer to exist any Lien upon the Collateral ranking or purporting to rank in priority to or pari passu with the Security Interest other than the Security Interest. No provision hereof shall be construed as a subordination or postponement of the Security Interest to or in favour of any other Lien, whether or not such Lien is permitted hereunder or otherwise.