Agenda - Council - 12/15/1998 - Laserfiche WebLink

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I (c) (ii) violate any provision of any indenture, contract, agreement or instrument to which Borrower is a party or by which it is bound. Performance by Borrower. Unless Borrower obtains Lender's va-itten consent to the contrary, Borrower shall not: (i) (ii) terminate its interest in any of the Collateral; or sell, transfer, or assign, or offer to sell, transfer or assign all or any part of the Collateral or permit all or any part of the Collateral to be sold, transferred or assigned; or (iii) remove or consent to the removal of any of the Equipment from the Property. This Section 2(c) shall not prevent Borrower from taking any action set forth in this Section 2(c) with respect to Equipment which Borrower reasonably concludes has no further use to Borrower for the purposes for which it was designed. (d) (e) (g) (h) Title to Collateral. Borrower shall keep good marketable title to all of the Collateral, and none of the Collateral is subject to any lien or security interest except for the security interest created by this Security Agreement and other security interests consented to in writing by Lender. Borrower has not granted, and will not grant or permit to exist, any lien or security interests in all or a portion of the Collateral other than the liens in favor of Lender and other liens consented to in writing by Lender. Borrower shall defend the Collateral against all claims and demands of all and any other persons at any time claiming any interest therein adverse to Lender. Actions and Proceedings. There are no actions at law, suits in equity or by other proceedings before any governmental agency, commission, bureau, tribunal, or other arbitration proceedings against or affecting Borrower that if adversely determined would adversely affect Borrower's interest in the Collateral or would adversely affect the rights of Borrower to pledge and assign all or a part of the Collateral or the rights and security afforded Lender hereunder. Insurance. Borrower agrees it will keep the Equipment insured at ali times against loss by fire and/or other hazards concerning which, in the judgment of Lender, insurance protection is reasonably necessary and in amounts sufficient to protect against loss or damage of the Equipment. Such policy or policies will contain a loss payable clause in favor of Lender or its successors or assigns, in form satisfactory to Lender, provided, however, that Borrower may, at its reasonable discretion, self-insure the Equipment No Fixture. If any of the Collateral is or becomes a fixture, Borrower agrees to furnish Lender, at Lender's request, with a statement or statements signed by all persons who have or claim an interest in the real estate concerned, which statements shall provide that the signer consents to the security interest created hereby and disclaims any interest in the Collateral as fixtures. Understandings Regarding Collateral. Borrower acknowledges that.the Collateral is of the design, capacity, and manufacture specified for and by Borrower, and that BorCower is satisfied that the same is suitable for its intended purposes. Borrower further acknowledges and agrees that Lender has not made, and does not make, any representation, warranty, or covenant with respect to merchant ability, fitness for any purpose, durability, patent, copyright or trademark infringement, suitability, or capability of any item of Collateral in any respect or in connection with any other purpose or use of Borrower, or any other representation, warranty, or covenant of any kited or character expressed or implied with respect thereto. Borrower accordingly agrees not to assert any .claim whatsoever against Lender based thereon. Borrower further agrees, regardless of cause, not to assert any claim whatsoever against Lender for loss of anticipatory profits or consequential damages. B-2