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.
Appears in 2 contracts
Sources: Pre Funding Security Agreement (Nexeo Solutions Finance Corp), Credit Agreement (Brocade Communications Systems Inc)