Sales and Collections Sample Clauses

Sales and Collections. So long as no Event of Default shall have occurred and be continuing, Grantor may in the ordinary course of its business: (i) sell any Inventory normally held by Grantor for sale, (ii) use or consume any materials and supplies normally held by Grantor for use or consumption, and (iii) collect all of its Accounts. Grantor shall take such action with respect to protection of its Inventory and the other Collateral and the collection of its Accounts as MLBFS may from time to time reasonably request.

Sales and Collections. So long as no Event of Default shall have occurred and be continuing, Customer may in the ordinary course of its business: (i) sell any Inventory normally held by Customer for sale, (ii) use or consume any materials and supplies normally held by Customer for use or consumption, and (iii) collect all of its Accounts. Customer shall take such action with respect to protection of its Inventory and the other Collateral and the collection of its Accounts as MLBFS may from time to time reasonably request.

Sales and Collections. (a) Sales of Inventory in the Ordinary Course of Business. The Debtor is authorized (i) to sell in the ordinary course of its business for fair value and on an arm's-length basis any of its Inventory normally held by it for such purpose and (ii) to use and consume, in the ordinary course of its business, any raw materials, supplies and materials normally held by it for such purpose. The Agent may, upon the occurrence of any Event of Default, without cause or notice, curtail or terminate such authority at any time.

Sales and Collections. (a) Borrower is authorized (i) to sell in the ordinary course of its business for fair value and on an arm's-length basis any of its Inventory normally held by it for such purpose and (ii) to use and consume, in the ordinary course of its business, any raw materials, supplies and materials normally held by it for such purpose. Lender may upon the occurrence of any Event of Default (as defined in the Mortgage), without cause or notice, curtail or terminate such authority at any time. (b) Borrower is authorized to collect amounts owing to it with respect to the Collateral. However, Lender may at any time, after an Event of Default shall have occurred, notify Account Debtors obligated to make payments under any or all Accounts or Other Intangibles that Lender has a security interest in such Accounts or Other Intangibles and that all payments by such Account Debtors with respect to same shall be made directly to Lender. Upon the request of Lender at any time, Borrower will so notify such Account Debtors. Borrower will use all reasonable efforts to cause each account debtor to comply with the foregoing instruction. In furtherance of the foregoing, Borrower authorizes Lender (i) to ask for, demand, collect, receive and give acquittances and receipts for any and all amounts due and to become due under any Collateral and, in the name of Borrower or its own name or otherwise, (ii) to take possession of, endorse and collect any checks, drafts, notes, acceptances or other instruments for the payment of moneys due under any Collateral, and (iii) to file any claim or take any other action in any court of law or equity or otherwise which it may deem appropriate for the purpose of collecting any amounts due under any Collateral. Lender shall have no obligation to obtain or record any information relating to the source of such funds or the obligations in respect of which payments have been made.

Sales and Collections. Customer shall not sell, transfer or otherwise dispose of any Collateral so long as there are any Obligations..

Sales and Collections. (1) The Borrower is authorized (a) to sell in the ordinary course of its business for fair value and on an arm's-length basis any of its Inventory normally held by it for such purpose and (b) to use and consume, in the ordinary course of its business, any raw materials, supplies and materials normally held by it for such purpose. The Bank may upon the occurrence of any Default Condition, without cause or notice, curtail or terminate such authority at any time. (2) Upon the request of the Bank, in the Bank’s sole discretion, all Account Debtors shall be notified to make payments under Receivables directly to the Bank, in accordance with the Bank’s standard lockbox agreement. The Borrower will use all reasonable efforts to cause each Account Debtor to comply with the foregoing instruction. In furtherance of the foregoing, the Borrower authorizes the Bank (a) to ask for, demand, collect, receive and give acquittances and receipts for any and all amounts due and to become due under any Collateral and, in the name of the Borrower or its own name or otherwise, (b) to take possession of, indorse and collect any checks, drafts, notes, acceptances or other instruments for the payment of moneys due under any Collateral and (c) to file any claim or take any other action in any court of law or equity or otherwise which it may deem appropriate for the purpose of collecting any amounts due under any Collateral. The Bank shall have no obligation to obtain or record any information relating to the source of such funds or the obligations in respect of which payments have been made.

Sales and Collections. (1) The Borrower is authorized (a) to sell in the ordinary course of its business for fair value and on an arm's- length basis any of its Inventory normally held by it for such purpose and (b) to use and consume, in the ordinary course of its business, any raw materials, supplies and materials normally held by it for such purpose. The Bank may upon the occurrence of any Default, without cause or notice, curtail or terminate such authority at any time. (2) All Account Debtors shall be notified to make payments under Receivables constituting "Remittances" under the Lockbox Agreement directly to the Bank in accordance with the terms of the Lockbox Agreement. The Borrower will use all reasonable efforts to cause each Account Debtor to comply with the foregoing instruction. In furtherance of the foregoing, the Borrower authorizes the Bank (a) to ask for, demand, collect, receive and give acquittances and receipts for any and all amounts due and to become due under any Collateral and, in the name of the Borrower or its own name or otherwise, (b) to take possession of, indorse and collect any checks, drafts, notes, acceptances or other instruments for the payment of moneys due under any Collateral and (c) to file any claim or take any other action in any court of law or equity or otherwise which it may deem appropriate for the purpose of collecting any amounts due under any Collateral. The Bank shall have no obligation to obtain or record any information relating to the source of such funds or the obligations in respect of which payments have been made, other than as required by the Lockbox Agreement.

Sales and Collections. Borrower shall not sell, transfer or otherwise dispose of any Collateral, except that so long as no Event of Default shall have occurred and be continuing, Borrower may in the ordinary course of its business: (i) sell any inventory normally held by Borrower for sale (Borrower acknowledging that the Rigs are not inventory held for sale), (ii) lease the Rigs and other rig Collateral on an operating basis, (iii) use or consume any materials and supplies normally held by Borrower for use or consumption, (iv) sell, transfer or otherwise dispose of equipment or parts that are obsolete or no longer necessary for the business of Borrower except to the extent (A) the aggregate value of all such sales, transfers and disposals does not exceed $100,000 or (B) such equipment or parts are promptly replaced by equipment or parts of at least comparable value and use, and (v) collect all of its accounts receivable and compromise and settle its accounts receivable in the ordinary course of its business.

Sales and Collections. Except as expressly provided in the Indenture, the Company will not, and will not permit any of its or their Subsidiaries to, directly or indirectly sell, convey, transfer, lease or otherwise dispose of any Collateral.