Common use of Transfers of Collateral Clause in Contracts

Transfers of Collateral. Other than pursuant to a transaction permitted by Article V, the Company shall not sell or otherwise transfer to any third party any of its ownership of the Collateral or any proceeds thereof (except to pay Obligations in respect of the Notes, this Indenture, and the Note Security Documents, pursuant to the provisions hereof and thereof), except for transfers of Collateral (other than the Ambac Note (or any right related thereto) or the Ambac Note Proceeds Collateral Account (or any assets credited thereto or on deposited therein)) which are (a) Immaterial Dispositions or (b) pursuant to a transaction where the proceeds of such transfer secure the Notes.

Transfers of Collateral. Other than pursuant to a transaction permitted by Article VV or the provisions of the Ambac Note or Note Security Documents, the Company shall not sell or otherwise transfer to any third party any of its ownership of the Collateral or any proceeds thereof (except to pay Obligations in respect of the Notes, this Indenture, and the Note Security Documents, pursuant to the provisions hereof and thereof), except for transfers of Collateral (other than the Ambac Note (or any right related thereto) or the Sitka Ambac Note Proceeds Collateral Account (or any assets credited thereto or on deposited therein)) which are (a) Immaterial Dispositions or (b) pursuant to a transaction where the proceeds of such transfer secure the Notes.