Common use of Sales of Inventory Clause in Contracts

Sales of Inventory. So long as there exists no Default, Inventory subject to the Liens in favor of the Agent for the benefit of the Lenders may be sold by the Borrowers in the ordinary course of business, but shall not otherwise be taken or removed from the Premises or the Mortgaged Property. If there shall occur a Default, the then Inventory shall not be sold, taken or removed, except with the Agent's prior consent and upon substitution of other Collateral in form and amount satisfactory to the Agent, in the Agent's business judgment or upon payment of an amount satisfactory to the Agent to be applied to the Obligations in such order as the Agent, in the Agent's sole discretion, may determine.

Sales of Inventory. So long as there exists no Default, Inventory subject to the Liens in favor of the Agent for the benefit of the Lenders may be sold by the Borrowers in the ordinary course of business, but shall not otherwise be taken or removed from the Premises or the Mortgaged PropertyPremises. If there shall occur a Default, the then Inventory shall not be sold, taken or removed, except with the Agent's prior consent and upon substitution of other Collateral in form and amount satisfactory to the Agent, in the Agent's business judgment or upon payment of an amount satisfactory to the Agent to be applied to the Obligations in such order as the Agent, in the Agent's sole discretion, may determine.