Rights of Transferee. A transferee who purchases, leases, licenses or otherwise receives the benefits of a disposition of Collateral after Default takes free of all Borrower's rights and the rights of any subordinate security interest or lien. A transferee is entitled to the recording of a transfer statement to document public notice of such disposition.
Appears in 4 contracts
Sources: Revolving Loan and Security Agreement (Media Sciences International Inc), Secured Revolving Loan Note (Media Sciences International Inc), Revolving Loan and Security Agreement (K Tronik International Corp)
Rights of Transferee. A transferee who purchases, leases, licenses or otherwise receives the benefits of a disposition of Collateral after Default takes free of all Borrower's ’s rights and the rights of any subordinate security interest or lien. A transferee is entitled to the recording of a transfer statement to document public notice of such disposition.
Appears in 1 contract
Sources: Revolving Loan and Security Agreement (Spar Group Inc)
Rights of Transferee. A transferee who purchases, leases, licenses or otherwise receives the benefits of a disposition of Collateral after Default takes free of all Borrower's rights and the rights of any subordinate security interest or lienrights. A transferee is entitled to the recording of a transfer statement to document public notice of such disposition.
(34) Sections 10.2, 10.3, 10.4 and 10.5 are hereby amended to read as follows:
Appears in 1 contract