Sale or Substitution of Collateral Sample Clauses

Sale or Substitution of Collateral. If no Event of Default has occurred under this Agreement or would result from such action, Pledgor may (i) sell, trade, or withdraw any part of the Collateral; or (ii) substitute new Collateral for existing Collateral, provided that, in either event, the new Collateral shall be acceptable to Bank in its sole discretion and the unpaid principal balance of the Obligation shall be less than the sum of the amounts determined by multiplying the Collateral Value by the Original Advance Percentage for each type of Collateral securing the Obligation.
View SourceView Similar (5)
Sale or Substitution of Collateral. Pledgor may substitute new Approved Collateral for existing Collateral, provided that (i) no Event of Default exists or would result therefrom and (ii) after giving effect thereto, the amount of Indebtedness will not exceed the Borrowing Base.
View SourceView Similar (2)
Sale or Substitution of Collateral. Subject to the other provisions of this paragraph and any written agreement to the contrary with the Bank, if no Event of Default has occurred under this Agreement or would result from such action, the Borrower may (i) sell, trade, or withdraw any part of the Collateral; or (ii) substitute new collateral for existing collateral, provided that, in either event, both (I) either (A) the new collateral shall be acceptable to the Bank in its sole discretion or (B) in the case of Clause (i), the net sale proceeds are applied to prepay the Term Loan and (II) the outstanding principal balance of the Term Loan is less than the Collateral Value.
View Source
Sale or Substitution of Collateral. Subject to the provisions of ---------------------------------- paragraph 3 above, Bank and Pledgor understand and agree that at any time Pledgor is not in default on the Note, Pledge Agreement or other Loan Documents, Pledgor may sell or substitute any or all of the Collateral, provided that the entirety of the net proceeds (i.e., one hundred percent (100%) of the proceeds net of any brokerage firm sales commission) of any sale of any Collateral shall be delivered to Bank to be applied by Bank first to the payment of any unpaid interest then accrued on the Loan and then to principal of the Loan, or if a substitution of Collateral, that new Collateral shall be acceptable to Bank in its sole discretion and the ratio of the Collateral Value to the Loan Balance shall be as determined by Bank in its sole discretion. Notwithstanding anything in this paragraph to the contrary, any sales or substitutions of Collateral shall comply with Regulation U of the Board of Governors of the Federal Reserve System.
View Source
Sale or Substitution of Collateral. If no Event of Default has occurred under this Agreement or would result from such action, ▇▇▇▇▇▇▇ may (i) sell, trade, or withdraw any part of the Collateral: or (iii substitute new Collateral for existing Collateral, provided that, in either event, the new Collateral shall be acceptable to Bank in its sole discretion and the unpaid principal balance-of the Obligation shall be less than the sum of the amounts determined by multiplying the Collateral Value by the Original Advance Percentage for each type of Collateral securing the Obligation.
View Source
Sale or Substitution of Collateral. If no Event of Default has occurred under this Agreement, Pledgor may, provided none of the following actions would result in the occurrence of an Event of Default: (i) sell, trade, or withdraw any part of the Collateral; or (ii) substitute new Collateral for existing Collateral, provided that, in either event, the new Collateral shall be acceptable to Secured Party in its sole discretion and the unpaid principal balance of the Obligation shall be less than the sum of the amounts determined by multiplying the Collateral Value by the Original Advance Percentage for each type of Collateral securing the Obligation.
View Source
Sale or Substitution of Collateral 
View Source

Related to Sale or Substitution of Collateral

  • Substitution of Collateral A Fund may substitute securities for any securities identified as Collateral by delivery to the Custodian of a Pledge Certificate executed by such Fund on behalf of the applicable Portfolio, indicating the securities pledged as Collateral.

  • Disposition of Collateral Such Grantor will not sell, lease or otherwise dispose of the Collateral owned by it except for dispositions specifically permitted pursuant to Section 6.05 of the Credit Agreement.

  • Application of Collateral The proceeds of any sale, or other realization (other than that received from a sale or other realization permitted by the Credit Agreement) upon all or any part of the Pledged Collateral pledged by the Pledgors shall be applied by the Secured Party as set forth in Section 7.06 of the Credit Agreement.

  • Condition of Collateral Secured Party has no obligation to repair, clean-up or otherwise prepare the Collateral for sale.

  • Location of Collateral All tangible items of Collateral, other than Inventory in transit, shall at all times be kept by Borrowers at the business locations set forth in Schedule 8.6.1, except that Borrowers may (a) make sales or other dispositions of Collateral in accordance with Section 10.2.6; and (b) move Collateral to another location in the United States, upon 30 Business Days prior written notice to Agent.