Common use of Transfer Collateral Clause in Contracts

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.