Transfer Collateral Clause Samples
The Transfer Collateral clause defines the process and requirements for moving collateral from one party to another, typically in the context of securing obligations under a contract. This clause outlines the types of assets that can be used as collateral, the timing and method of transfer, and any conditions that must be met for the transfer to be valid. For example, it may specify that cash or securities must be delivered to a designated account within a certain timeframe. The core function of this clause is to ensure that collateral is properly transferred and held, thereby reducing credit risk and providing security for the parties involved.
Transfer Collateral. 25 7.7 Merger; Sale of Assets.....................................................................25 7.8 Dividends; Loan; Affiliate Payments........................................................26 7.9
Transfer Collateral. It will not assign, transfer or convey any of its right, title and interest in the Collateral (whether real or personal) encumbered by the Security Documents.
Transfer Collateral. Assign, transfer or convey any of its right, title and interest in the Collateral.
Transfer Collateral. Assign, transfer or convey any of its right, title and interest in the Collateral; provided, however, that ATSI may transfer cash to any Subsidiary of Borrower solely for the purpose of funding normal operating expenses of such Subsidiary provided that no Event of Default and no event, that with the giving of notice or the passage of time, or both, would be an Event of Default (including, but not limited to, the failure to make Principal Payments as provided herein and in the Note), shall have occurred and be continuing on the date of such transfer of cash.
Transfer Collateral. Assign, transfer or convey any of its right, title and interest in the Collateral, other than (i) sales of inventory in the ordinary course of business or (ii) expenditures of cash or other Collateral to pay ordinary operating expenses as and when incurred or (iii) dispositions of obsolete items of de minimis value in the ordinary course of business.
Transfer Collateral. Obligors will not assign, transfer or convey any of its right, title and interest in the Collateral (whether real or personal), except in connection with sales of inventory in the ordinary course of business.
Transfer Collateral. It will not assign, transfer or convey any of its right, title and interest in the Collateral encumbered by the Security Documents except in the ordinary course of Borrower's business and for good and full consideration.
Transfer Collateral. It will not assign, transfer or convey any of its right, title and interest in the Collateral (whether real or personal) encumbered by the Security Documents except that with respect to Collateral that is Equipment:
(a) Borrower may replace any such Equipment so long as the following conditions are satisfied:
(i) the book value and the market value of the replacement Equipment equal or exceed that of the replaced Equipment;
(ii) the replacement Equipment is usable, and its primary use is, in the business of Borrower;
(iii) the replacement Equipment is subject to a Lien for the benefit of Lender and is free of any other security interest or encumbrance; and
(iv) should the replacement Equipment be located outside the State of Arizona, Borrower shall notify Lender in writing of the location of the replacement Equipment.
(b) Borrower may sell and/or abandon any such Equipment so long as the following conditions are satisfied:
(i) the aggregate of the book value of sold and/or abandoned Equipment does not exceed $200,000 per year; and
(ii) the total book value and the fair market value of all such Equipment after such sale or abandonment equals or exceeds that as of twelve (12) months prior to the date of sale.
Transfer Collateral. 30 Section 7.15 Amendments..................................................................... 30 Section 7.6
Transfer Collateral. 20 8.5 Distributions ...................................................... 20