Common use of Alterations and Maintenance Clause in Contracts

Alterations and Maintenance. Except upon the prior written consent of MLBFS, Customer shall not make or permit any material alterations to any tangible Collateral which might materially reduce or impair its market value or utility. Customer shall at all times keep the tangible Collateral in good condition and repair, reasonable wear and tear excepted, and shall pay or cause to be paid all obligations arising from the repair and maintenance of such Collateral, as well as all obligations with respect to any Location of Tangible Collateral, except for any such obligations being contested by Customer in good faith by appropriate proceedings.

Appears in 11 contracts

Samples: Loan and Security Agreement (Stockeryale Inc), Loan and Security Agreement (Dreams Inc), Term Loan and Security Agreement (Data Conversion Laboratory)

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Alterations and Maintenance. Except upon the prior written consent of MLBFS, Customer shall not make or permit any material alterations to any tangible Collateral which might materially reduce or impair its market value or utility. Customer shall at all times keep the tangible Collateral in good condition and repair, reasonable wear and tear excepted, repair and shall pay or cause to be paid all obligations arising from the repair and maintenance of such Collateral, as well as all obligations with respect to any each Location of Tangible Collateral, except for any such obligations being contested by Customer in good faith by appropriate proceedings.

Appears in 8 contracts

Samples: Loan and Security Agreement (Faro Technologies Inc), Loan Agreement (Cysive Inc), Security Agreement (American Eco Corp)

Alterations and Maintenance. Except upon the prior written consent of MLBFS, Customer shall not make or permit any material alterations to any tangible Collateral which might materially reduce or impair its market value or utility. Customer shall at all times keep the tangible Collateral in good condition and repair, reasonable wear and tear excepted, and shall pay or cause to be paid all obligations arising from the repair and maintenance of such Collateral, as well as all obligations with respect to any each Location of Tangible Collateral, except for any such obligations being contested by Customer in good faith by appropriate proceedings.

Appears in 7 contracts

Samples: Loan Agreement (Stockeryale Inc), Loan and Security Agreement (Dynacq Healthcare Inc), Loan and Security Agreement (Stockeryale Inc)

Alterations and Maintenance. Except upon the prior written consent of MLBFS, Customer shall not make or permit any material alterations to any tangible Collateral which might materially reduce or impair its market value or utility. Customer shall at all times keep the tangible Collateral in good condition and repair, reasonable wear and tear and obsolescence excepted, and shall pay or cause to be paid all obligations arising from the repair and maintenance of such Collateral, as well as all obligations with respect to any Location of Tangible Collateral, except for any such obligations being contested by Customer in good faith by appropriate proceedings.

Appears in 2 contracts

Samples: Term Loan and Security Agreement (Whitman Education Group Inc), Loan and Security Agreement (Whitman Education Group Inc)

Alterations and Maintenance. Except upon the prior written consent of MLBFS, Customer shall not make or permit any material alterations to any tangible Collateral which might materially reduce or impair its market value or utility. Customer shall at all times keep the tangible Collateral in good condition and repair, reasonable wear and tear excepted, repair and shall pay or cause to be paid all obligations arising from the repair and maintenance of such Collateral, as well as all obligations with respect to any each Location of Tangible Collateral, except for any such obligations being contested by Customer in good faith by appropriate proceedings.

Appears in 1 contract

Samples: Cash Flow Covenant (U S Long Distance Corp)

Alterations and Maintenance. Except upon the prior written consent of MLBFS, MLBFS Customer shall not make or permit any material alterations to any tangible Collateral which might materially reduce or impair its market value or utility. Customer shall at all times keep the tangible Collateral in good condition and repair, reasonable wear and tear excepted, and shall pay or cause to be paid all obligations arising from the repair and maintenance of such Collateral, as well as all obligations with respect to any Location of Tangible Collateral, except for any such obligations being contested by Customer in good faith by appropriate proceedings.

Appears in 1 contract

Samples: Lease Agreement (Lakeland Industries Inc)

Alterations and Maintenance. Except upon the prior written consent of MLBFS, Customer shall not make or permit any material alterations to any tangible Collateral which might materially reduce or impair its market value or utility. Customer shall at all times keep the tangible Collateral in good condition and repair, reasonable wear and tear excepted, repair and shall pay or cause to be paid all obligations arising from the repair and maintenance of such Collateral, as well as all obligations with respect to any Location of Tangible Collateral, except for any such obligations being contested by Customer in good faith by appropriate proceedings.

Appears in 1 contract

Samples: Loan and Security Agreement (Infodata Systems Inc)

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Alterations and Maintenance. Except upon the prior written consent of MLBFS, Customer shall not make or permit any material alterations to any tangible Collateral which might materially reduce or impair its market value or utility. Customer shall at all times keep the tangible Collateral in good condition and repair, reasonable wear and tear excepted, repair and shall pay or cause to be paid all obligations arising from the repair and maintenance of such Collateral, as well as all obligations with respect to the premises where any Location of Tangible CollateralCollateral is or may be located, except for any such obligations being contested by Customer in good faith by appropriate proceedings.

Appears in 1 contract

Samples: Term Wcma Loan and Security Agreement (Barbeques Galore LTD)

Alterations and Maintenance. Except upon the prior written consent of MLBFS, . Customer shall not make or permit any material alterations to any tangible Collateral which might materially reduce or impair its market value or utility. Customer shall at all times keep the tangible Collateral in good condition and repair, reasonable wear and tear excepted, repair and shall pay or cause to be paid all obligations arising from the repair and maintenance of such Collateral, . as well as all obligations with respect to any each Location of Tangible Collateral, except for any such obligations being contested by Customer in good faith by appropriate proceedings.

Appears in 1 contract

Samples: Loan and Security Agreement (Cd Warehouse Inc)

Alterations and Maintenance. Except upon the prior written consent of MLBFS, . Customer shall not make or permit any material alterations to any tangible Collateral which might materially reduce or impair its market value or utility. Customer shall at all times keep the tangible Collateral in good condition and repair, reasonable wear and tear excepted, repair and shall pay or cause to be paid all obligations arising from the repair and maintenance of such Collateral, as well as all obligations with respect to the premises where any Location of Tangible CollateralCollateral is or may be located, except for any such obligations obligations, being contested by Customer in good faith by appropriate proceedings.

Appears in 1 contract

Samples: Loan and Security Agreement (Data Conversion Laboratory)

Alterations and Maintenance. Except upon the prior written consent of MLBFS, Customer shall not make or permit any material alterations to any tangible Collateral which might materially reduce or impair its market value or utility. Customer shall at all times keep the tangible Collateral in good condition and repair, reasonable wear and tear excepted, repair and shall pay or cause to be paid all obligations arising from the repair and maintenance of such Collateral, as well as all obligations with respect to any Location of Tangible Collateral, except for any such obligations being contested by Customer in good faith by appropriate proceedings.

Appears in 1 contract

Samples: Loan and Security Agreement (Genesis Media Group Inc /De/)

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