Common use of As to Equipment and Inventory Clause in Contracts

As to Equipment and Inventory. (a) Each Grantor will keep the ----------------------------- Equipment and Inventory of such Grantor (other than Inventory sold in the ordinary course of business) at the places therefor specified in Section 8(a) or, except in circumstances governed by Section 5.01(j) of the Credit Agreement, upon 30 days' prior written notice to the Collateral Agent, at such other places in a jurisdiction where all action required by Section 9 shall have been taken with respect to such Equipment and Inventory (and, upon the taking of such action in such jurisdiction, Schedule II hereto shall be automatically amended to include such other places). In any case governed by Section 5.01(j) of the Credit Agreement, such Grantor will comply with the provisions of such section. (b) In all cases subject to its rights to sell or dispose of obsolete, damaged or worn-out items, or items that are no longer useful, as provided in Section 5.02(e)(iv) of the Credit Agreement, each Grantor will cause the Equipment of such Grantor to be maintained and preserved in the good condition, repair and working order, ordinary wear and tear excepted, and will forthwith, or in the case of any loss or damage to any of such Equipment as soon as practicable after the occurrence thereof, make or cause to be made all repairs, replacements and other improvements in connection therewith that are necessary or desirable to such end. (c) Each Grantor will pay promptly when due all property and other taxes, assessments and governmental charges or levies imposed upon, and all claims (including, without limitation, claims for labor, materials and supplies) against, the Equipment and Inventory of such Grantor, except to the extent payment thereof is not required by Section 5.01(b) of the Credit Agreement.

Appears in 2 contracts

Samples: Security Agreement (Davita Inc), Security Agreement (Davita Inc)

AutoNDA by SimpleDocs

As to Equipment and Inventory. (a) Each Grantor will keep the ----------------------------- Equipment and Inventory of such Grantor (other than Inventory sold in the ordinary course of business, Equipment and Inventory constituting mobile goods or Equipment and Inventory in transit in the ordinary course of such Grantor's business) at the places therefor specified in Section 8(a) or, except in circumstances governed by Section 5.01(j) of the Credit Agreement, upon 30 days' prior written notice to the Collateral Agent, at such other places in a jurisdiction where all action required by Section 9 shall have been taken with respect to such Equipment and Inventory (and, upon the taking of such action in such jurisdiction, Schedule II III hereto shall be automatically amended to include such other places). In any case governed by Section 5.01(j) of the Credit Agreement, such Grantor will comply with the provisions of such section. (b) In all cases subject to its rights to sell or dispose of obsolete, damaged or worn-out items, or items that are no longer useful, as provided in Section 5.02(e)(iv) of the Credit Agreement, each Each Grantor will cause the Equipment of such Grantor to be maintained and preserved in the good same condition, repair and working orderorder as when new, ordinary wear and tear excepted, and in accordance with any manufacturer's manual, and will forthwith, or in the case of any loss or damage to any of such Equipment as soon as practicable after the occurrence thereof, make or cause to be made all repairs, replacements and other improvements in connection therewith that are necessary or reasonably desirable to such end. (c) Each Grantor will pay promptly when due all property and other taxes, assessments and governmental charges or levies imposed upon, and all claims (including, without limitation, claims for labor, materials and supplies) against, the Equipment and Inventory of such Grantor, except to the extent payment thereof is not required by Section 5.01(b) of the Credit Agreement. In producing its Inventory, each Grantor will comply with all requirements of applicable law, including, without limitation, the Fair Labor Standards Act, except where any such noncompliance would not be reasonably likely to result in a Material Adverse Effect.

Appears in 1 contract

Samples: Non Shared Collateral Security Agreement (Pacificare Health Systems Inc /De/)

As to Equipment and Inventory. (a) Each Grantor will keep the ----------------------------- Equipment and Inventory of such Grantor (other than Inventory sold in the ordinary course of business, Equipment and Inventory constituting mobile goods or Equipment and Inventory in transit in the ordinary course of such Grantor's business) at the places therefor specified in Section 8(a) or, except in circumstances governed by Section 5.01(j) of the Credit Agreement, upon 30 days' prior written notice to the Collateral Agent, at such other places in a jurisdiction where all action required by Section 9 shall have been taken with respect to such Equipment and Inventory (and, upon the taking of such action in such jurisdiction, Schedule II III hereto shall be automatically amended to include such other places). In any case governed by Section 5.01(j) of the Credit Agreement, such Grantor will comply with the provisions of such section. (b) In all cases subject to its rights to sell or dispose of obsolete, damaged or worn-out items, or items that are no longer useful, as provided in Section 5.02(e)(iv) of the Credit Agreement, each Each Grantor will cause the Equipment of such Grantor to be maintained and preserved in the good same condition, repair and working orderorder as when new, ordinary wear and tear excepted, and in accordance with any manufacturer's manual, and will forthwith, or in the case of any loss or damage to any of such Equipment as soon as practicable after the occurrence thereof, make or cause to be made all repairs, replacements and other improvements in connection therewith that are necessary or reasonably desirable to such end. (ca) Each Grantor will pay promptly when due all property and other taxes, assessments and governmental charges or levies imposed upon, and all claims (including, without limitation, claims for labor, materials and supplies) against, the Equipment and Inventory of such Grantor, except to the extent payment thereof is not required by Section 5.01(b) of the Credit Agreement. In producing its Inventory, each Grantor will comply with all requirements of applicable law, including, without limitation, the Fair Labor Standards Act, except where any such noncompliance would not be reasonably likely to result in a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Pacificare Health Systems Inc /De/)

As to Equipment and Inventory. (a) Each Grantor will keep the ----------------------------- Equipment and Inventory of such Grantor (other than Inventory sold in the ordinary course of business) at the places therefor specified in Section 8(a) or, except in circumstances governed by Section 5.01(j) of the Credit Agreement, upon 30 days' prior written notice to the Collateral Agent, at such other places in a jurisdiction where all action required by Section 9 shall have been taken with respect to such Equipment and Inventory (and, upon the taking of such action in such jurisdiction, Schedule II hereto shall be automatically amended to include such other places). In any case governed by Section 5.01(j) of the Credit Agreement, such Grantor will comply with the provisions of such section. (ba) In all cases subject to its rights to sell or dispose of obsolete, damaged or worn-out items, or items that are no longer useful, as provided in Section 5.02(e)(iv) of the Credit Agreement, each Grantor will cause the Equipment of such Grantor to be maintained and preserved in the good condition, repair and working order, ordinary wear and tear excepted, and will forthwith, or in the case of any loss or damage to any of such Equipment as soon as practicable after the occurrence thereof, make or cause to be made all repairs, replacements and other improvements in connection therewith that are necessary or desirable to such end. (cb) Each Grantor will pay promptly when due all property and other taxes, assessments and governmental charges or levies imposed upon, and all claims (including, without limitation, claims for labor, materials and supplies) against, the Equipment and Inventory of such Grantor, except to the extent payment thereof is not required by Section 5.01(b) of the Credit Agreement.

Appears in 1 contract

Samples: Security Agreement (Tri City Dialysis Center Inc)

AutoNDA by SimpleDocs

As to Equipment and Inventory. (a) Each Grantor will keep the ----------------------------- Equipment and Inventory of such Grantor (other than (i) Off-Site Goods and (ii) Equipment and 215 Inventory sold in as specifically allowed under Section 5.02(f) of the ordinary course of businessCredit Agreement) at the places therefor specified in Section 8(a9(a) or, except in circumstances governed by Section 5.01(j) of the Credit Agreement, upon 30 days' prior written notice to the Collateral Administrative Agent, at such other places in a jurisdiction where all action required by Section 9 10 shall have been taken with respect to such Equipment and Inventory (and, upon the taking of such action in such jurisdiction, Schedule II III hereto shall be automatically amended to include such other places). In any case governed by Section 5.01(j) of the Credit Agreement, such Grantor will comply with the provisions of such section. (b) In all cases subject to its rights to sell or dispose of obsolete, damaged or worn-out items, or items that are no longer useful, as provided in Section 5.02(e)(iv) of the Credit Agreement, each Each Grantor will cause the Equipment of such Grantor to be maintained and preserved in the good same condition, repair and working orderorder as in effect on the date hereof, ordinary wear and tear and casualty and condemnation excepted, and in accordance with any manufacturer's manual, and will forthwith, or in the case of any material loss or damage to any of such Equipment as soon as practicable after the occurrence thereof, make or cause to be made all repairs, replacements and other improvements in connection therewith that are reasonably necessary or desirable to such end. (c) Each Grantor will pay promptly when due all property and other taxes, assessments and governmental charges or levies imposed upon, and all claims (including, without limitation, claims for labor, materials and supplies) against, the Equipment and Inventory of such Grantor, except to the extent payment thereof is not required by Section 5.01(b) of the Credit Agreement. In producing its Inventory, each Grantor will comply with all requirements of applicable law, including, without limitation, the Fair Labor Standards Act, except where such non-compliance is not reasonably likely to have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Tanner Chemicals Inc)

As to Equipment and Inventory. (a) Each The Grantor will keep the ----------------------------- Equipment and Inventory of such the Grantor (other than Inventory sold in the ordinary course of business, Equipment and Inventory constituting mobile goods or Equipment and Inventory in transit in the ordinary course of the Grantor's business) at the places therefor specified in Section 8(a) or, except in circumstances governed by Section 5.01(j) of the Credit Agreement, upon 30 days' prior written notice to the Collateral AgentTrustees, at such other places in a jurisdiction where all action required by Section 9 shall have been taken with respect to such Equipment and Inventory (and, upon the taking of such action in such jurisdiction, Schedule II III hereto shall be automatically amended to include such other places). In any case governed by Section 5.01(j) of the Credit Agreement, such Grantor will comply with the provisions of such section. (b) In all cases subject to its rights to sell or dispose of obsolete, damaged or worn-out items, or items that are no longer useful, as provided in Section 5.02(e)(iv) of the Credit Agreement, each The Grantor will cause the Equipment of such the Grantor to be maintained and preserved in the good same condition, repair and working orderorder as when new, ordinary wear and tear excepted, and in accordance with any manufacturer's manual, and will forthwith, or in the case of any loss or damage to any of such Equipment as soon as practicable after the occurrence thereof, make or cause to be made all repairs, replacements and other improvements in connection therewith that are necessary or reasonably desirable to such end. (c) Each The Grantor will pay promptly when due all property and other taxes, assessments and governmental charges or levies imposed upon, and all claims (including, without limitation, claims for labor, materials and supplies) against, the Equipment and Inventory of such the Grantor, except to the extent payment thereof is not required by Section 5.01(b) of the Credit Agreement. In producing its Inventory, the Grantor will comply with all requirements of applicable law, including, without limitation, the Fair Labor Standards Act, except where any such noncompliance would not be reasonably likely to result in a Material Adverse Effect.

Appears in 1 contract

Samples: Shared Collateral Security Agreement (Pacificare Health Systems Inc /De/)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!