Borrower will. (i) Furnish Bank from time to time such financial statements and information as Bank may reasonably request and inform Bank immediately upon the occurrence of a material adverse change therein; (ii) Furnish Bank periodically, in such form and detail and at such times as Bank may require, statements showing aging and reconciliation of the Accounts and collections thereon, and reports as to the Inventory and sales thereof; (iii) Permit representatives of Bank to inspect the Inventory and Borrower's books and records relating to the Collateral and make extracts therefrom at any reasonable time and to arrange for verification of the Accounts, under reasonable procedures, acceptable to Bank, directly with the account debtors or otherwise at Borrower's expense; (iv) Promptly notify Bank of any attachment or other legal process levied against any of the Collateral and any information received by Borrower relative to the Collateral, including the Accounts, the account debtors or other persons obligated in connection therewith, which may in any way affect the value of the Collateral or the rights and remedies of Bank in respect thereto; (v) Reimburse Bank upon demand for any and all legal costs, including reasonable attorneys' fees, and other expense incurred in collecting any sums payable by Borrower under Borrower's Loan Account or any other obligation secured hereby, enforcing any term or provision of this Security Agreement or otherwise or in the checking, handling and collection of the Collateral and the preparation and enforcement of any agreement relating thereto; (vi) Notify Bank of each location at which the Inventory is or will be kept, other than for temporary processing, storage or similar purposes, and of any removal thereof to a new location and of each office of Borrower at which records of Borrower relating to the Accounts are kept; (vii) Provide, maintain and deliver to Bank policies insuring the Collateral against loss or damage by such risks and in such amounts, forms and companies as Bank may require and with loss payable solely to Bank, and, in the event Bank takes possession of the Collateral, the insurance policy or policies and any unearned or returned premium thereon shall at the option of Bank become the sole property of Bank, such policies and the proceeds of any other insurance covering or in any way relating to the Collateral, whether now in existence or hereafter obtained, being hereby assigned to Bank; (viii) Do all acts necessary to ...
Borrower will. A. Preserve and keep in force all licenses, permits, and franchises necessary for the proper conduct of its business and duly pay and discharge all taxes, assessments, and governmental charges upon Borrower or against Borrower's property before the date on which penalties attach thereto, unless and to the extent only that the same shall be contested in good faith and by appropriate proceedings.
Borrower will. (i) timely file or caused to be timely filed (after giving effect to any extension duly obtained), all material notifications, reports, submissions, Permit renewals and reports (other than cost reports as provided in Section 8.3(a)(ii) below) of every kind whatsoever required by Healthcare Laws (which reports will be materially accurate and complete in all material respects and not misleading in any respect and shall not remain open or unsettled); and
Borrower will. (i) promptly notify Lender of the receipt by Borrower of any notice from the Condominium Board or the owner of any other Unit not owned by Borrower, asserting or claiming a default by Borrower under the Condominium Documents or lack of compliance by Borrower with the Condominium Documents, in each case where such assertion or claim, or the alleged default or lack of compliance, would reasonably be expected to result in a Material Adverse Effect;
Borrower will. (a) preserve and maintain its legal existence and all of its material rights, privileges, licenses and franchises (provided that nothing in this Section 7.03(a) shall prohibit any transaction expressly permitted under Section 7.04 hereof);
Borrower will. 5.4.1.1. Join with Lender in executing such financing statements (including amendments and continuation statements) in form satisfactory to Lender, as Lender may from time to time specify;
Borrower will. (a) duly observe and conform to all requirements of any governmental authorities relative to the conduct of Borrower's business or to Borrower's properties or assets, including without limitation the proper use, storage, registration and disposal of any hazardous materials and any applicable provisions of "ERISA";
Borrower will. (i) promptly notify Administrative Agent of the receipt by Borrower of any notice from the Condominium Board or the owner of any other Unit not owned by Xxxxxxxx, asserting or claiming a default by Borrower under the Condominium Documents or lack of compliance by Borrower with the Condominium Documents, in each case where such assertion or claim, or the alleged default or lack of compliance, would reasonably be expected to result in a Material Adverse Effect; (ii) promptly notify Administrative Agent of the receipt by Borrower of any notice or request from the Condominium Board or the owner of any other Unit not owned by Borrower of the termination or purported termination of the Condominium Documents or to withdraw the Project from the Condominium pursuant to applicable law or to seek any action for partition; and (iii) promptly cause a copy of each notice or request described in clauses (i) or (ii) above received by Borrower from the Condominium Board or the owner of any other Unit not owned by Xxxxxxxx, or from a holder of any mortgage or deed of trust on such other Unit, to be delivered to Administrative Agent. Borrower will permit Administrative Agent to participate in any such partition or withdrawal proceeding to the extent permitted by law and the Condominium Documents (but Administrative Agent shall not be obligated so to do). Xxxxxxxx will promptly deliver to Administrative Agent a copy of each notice, pleading, brief and preliminary, interim and final determination or decision and other papers received by it in each such partition or withdrawal proceeding. ARTICLE 10
Borrower will. (a) keep its properties and assets insured against fire and other hazards (so called “All Risk” coverage) in amounts and with companies reasonably satisfactory to Lender to the same extent and covering such risks as is customary in the same or a similar business, but in no event in an amount less than the full replacement value thereof, which policies shall name Lender as lender’s loss payable, as its interest may appear, (b) maintain public liability coverage against claims for personal injuries or death in such coverage amounts as required by Lender, and (c) maintain all worker’s compensation, employment or similar insurance as may be required by applicable law. The policies referenced in the aforesaid subsections (b) and (c) shall name Lender as an additional insured thereunder. All policies of insurance required hereunder shall provide for a minimum of thirty (30) days’ (ten (10) days for non-payment) prior written notice to Lender before cancellation. Borrower further agrees to deliver copies of certificates of insurance for all of the aforesaid insurance policies to Lender, and, upon request, to provide Lender with copies of the insurance policies. In the event of any loss or damage exceeding deductible amounts to any of Borrower’s assets, including any Collateral securing the Liabilities of Borrower owing to Lender, Borrower shall give prompt written notice to Lender and to its insurers of such loss or damage and shall promptly file proofs of loss with said insurers.
Borrower will. (a) not abandon the Premises; (b) not knowingly do or suffer anything to be done which would depreciate or impair the value of the Collateral or the security of this Mortgage; (c) not remove or demolish any of the Improvements, except as otherwise provided in or permitted by the Loan Agreement; (d) pay promptly for all labor and materials for all construction, repairs and improvements to or on the Premises performed by or at the direction of Borrower; (e) not make any changes, additions or alterations to the Land or the Improvements that would materially change the value thereof, except as required by applicable governmental requirements or as otherwise approved in writing by Lender; (f) maintain, preserve and keep the Goods and the Improvements in good, safe and insurable condition and repair and promptly make any repairs, replacements, renewals, additions or substitutions required by wear, damage, obsolescence or destruction subject to the terms of the Loan Agreement; (g) subject to the terms and provisions of the Loan Agreement, promptly restore and replace any of the Improvements or Goods which are destroyed or damaged; (h) not commit, suffer, or permit waste of any part of the Premises; (i) maintain all grounds and abutting sidewalks in good and neat order and repair; and (j) perform in all material respects any and all obligations under the terms of the Ground Lease, including but not limited to the payment of rent.
