As to Equipment and Inventory. Company hereby agrees that it shall: (i) keep all the Equipment and Inventory (other than Inventory sold in the ordinary course of business) at the places therefore specified in Paragraph 9(a) above or, upon 30 days’ prior written notice to the Administrative Agent, at such other places in a jurisdiction where all representations and warranties set forth in Paragraph 9 (including Paragraph 9(f)) shall be true and correct, and all action required pursuant to the first sentence of Paragraph 10(h) below shall have been taken with respect to the Equipment and Inventory; (ii) except to the extent that the failure to do so would not reasonably be expected to have a Material Adverse Effect, cause the Equipment to be maintained and preserved in the same condition, repair and working as when new, ordinary wear and tear excepted, and in accordance with any manufacturer’s manual; and forthwith, or in the case of any loss or damage to any of the Equipment, as quickly as practicable after the occurrence thereof, make or cause to be made all repairs, replacements, and other improvements in connection therewith which are necessary or desirable to such end; and promptly furnish to the Administrative Agent a statement respecting any loss or damage to any of the Equipment; and (iii) promptly pay when due all property and other taxes, assessments and governmental charges or levies imposed upon, and all claims (including claims for labor, materials and supplies) against, the Equipment and Inventory, except to the extent the validity thereof is being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP have been set aside.
Appears in 1 contract
Samples: Pledge and Security Agreement (Check Mart of New Mexico Inc)
As to Equipment and Inventory. Company The Grantor hereby agrees that it shall: will
(ia) keep all the Equipment and Inventory (other than Equipment and Inventory sold Disposed of in accordance with Section 7.2.11 of the ordinary course of businessCredit Agreement, motor vehicles and Inventory in transit) at the places therefore therefor specified in Paragraph 9(a) above Section 3.3 or, upon 30 days’ prior written notice to the Administrative Agent, at such other places in a jurisdiction where all representations and warranties set forth in Paragraph 9 (including Paragraph 9(f)) Article III shall be true and correct, and all action required pursuant to the first sentence of Paragraph 10(h) below Section 4.6 shall have been taken with respect to the Equipment and Inventory; ;
(iib) except to the extent that the failure to do so would not reasonably be expected to have a Material Adverse Effect, cause the Equipment to be maintained and preserved in the same condition, good repair and working as when neworder, ordinary wear and tear excepted, and in accordance with any manufacturer’s manualmanual unless the Grantor determines in good faith that the repair or maintenance of such property is no longer economically feasible; and forthwith, or in the case of any loss or damage to any of the Equipment, as quickly as practicable after the occurrence thereof, make or cause to be made all repairs, replacements, and other improvements in connection therewith which are necessary or desirable to such end; and promptly furnish to the Administrative Agent a statement respecting any loss or damage to any of the Equipment; and and
(iiic) pay promptly pay when due all property and other taxes, assessments and governmental charges or levies imposed upon, and all claims (including claims for labor, materials and supplies) against, the Equipment and Inventory, except to the extent the validity thereof is being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP have been set aside.
Appears in 1 contract
Samples: Credit Agreement (United Surgical Partners International Inc)
As to Equipment and Inventory. Company Each Grantor hereby agrees that it shall: will
(ia) keep all ah the Equipment and Inventory (other than Equipment and Inventory sold in accordance with Section 7.04 of the ordinary course of businessTerm Loan Agreement and the Revolving Credit Agreement, motor vehicles and Inventory in transit) at the places therefore therefor specified in Paragraph 9(a) above Section 3.3 or, upon 30 days’ ' prior written notice to the Administrative Collateral Agent, at such other places in a jurisdiction where all representations and warranties set forth in Paragraph 9 (including Paragraph 9(f)) Article III shall be true and correct, and all action required pursuant to the first sentence of Paragraph 10(h) below Section 4.6 shall have been taken with respect to the Equipment and Inventory; ;
(iib) except to the extent that the failure to do so would not reasonably be expected to have a Material Adverse Effect, cause the Equipment to be maintained and preserved in the same condition, good repair and working as when neworder, ordinary wear and tear excepted, and in accordance with any manufacturer’s 's manual; and forthwith, or in the case of any material loss or damage to any of the Equipment, as quickly as practicable after the occurrence thereof, make or cause to be made all repairs, replacements, and other improvements in connection therewith which are necessary or desirable to such end; and promptly furnish to the Administrative Collateral Agent a statement respecting any material loss or damage to any of the Equipment; and and
(iiic) pay promptly pay when due all property and other taxes, assessments and governmental charges or levies imposed upon, and all claims (including claims for labor, materials and supplies) against, the Equipment and Inventory, except to the extent the validity thereof is being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP have been set aside.
Appears in 1 contract
Samples: Subsidiary Pledge and Security Agreement (Ironton Iron Inc)
As to Equipment and Inventory. Company The Grantor hereby agrees that it shall:
(ia) keep all the material Equipment and Inventory (other than Inventory sold in the ordinary course of business) at the places therefore therefor specified in Paragraph 9(a) above Section 3.1.1 or, upon 30 days’ ' prior written notice to the Administrative Agent, at such other places in a jurisdiction where all representations and warranties set forth in Paragraph 9 (including Paragraph 9(f)) Article III shall be true and correctcorrect in all material respects, and all action required pursuant to the first sentence of Paragraph 10(h) below Section 4.1.7 shall have been taken with respect to the material Equipment and Inventory; ;
(iib) except to the extent that the failure to do so would not reasonably be expected to have a Material Adverse Effect, cause the all material Equipment to be maintained and preserved in the same good condition, repair and working as when neworder, ordinary wear and tear excepted, and in accordance with any manufacturer’s manual; and forthwith, or in the case of any loss or damage to any of the Equipment, as quickly as practicable after the occurrence thereof, make or cause to be made all material repairs, replacements, and other improvements in connection therewith which are reasonably necessary or desirable to such end; and promptly furnish to the Administrative Agent a statement respecting any loss or damage to any of the material Equipment; and and
(iiic) pay, before the same shall become delinquent, promptly pay when due all property and other taxes, assessments and governmental charges or levies imposed upon, and all material claims (including claims for labor, materials and supplies) against, the Equipment and Inventory, except to the extent the validity thereof is being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP have been set aside.
Appears in 1 contract
As to Equipment and Inventory. Company Such Grantor hereby agrees ----------------------------- that it shall:
(ia) keep all the Equipment and Inventory (other than Inventory sold in the ordinary course of business) at the places therefore therefor specified in Paragraph 9(a) above Section 3.1.1 or, upon 30 days’ ' prior written notice to the Administrative Agent, at such ------------- other places in a jurisdiction where all representations and warranties set forth in Paragraph 9 Article III (including Paragraph 9(f)Section 3.1.6) shall be true and correct, ----------- and all action required pursuant to the first sentence of Paragraph 10(h) below Section 4.1.7 -------------- ------------- shall have been taken with respect to the Equipment and Inventory; ;
(iib) except to the extent that the failure to do so would not reasonably be expected to have a Material Adverse Effect, cause the Equipment to be maintained and preserved in the same condition, repair and working order as when new, ordinary wear and tear excepted, and in accordance with any manufacturer’s 's manual; and forthwith, or in the case of any loss or damage to any of the Equipment, as quickly as practicable after the occurrence thereof, make or cause to be made all repairs, replacements, replacements and other improvements in connection therewith which are necessary or desirable to such end; and promptly furnish to the Administrative Agent a statement respecting any loss or damage to any of the Equipment; and and
(iiic) pay promptly pay when due all property and other taxes, assessments and governmental charges or levies imposed upon, and all claims (including claims for labor, materials and supplies) against, the Equipment and Inventory, except to the extent the validity thereof is being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP have been set aside.
Appears in 1 contract
Samples: Credit Agreement (Aristotle Corp)
As to Equipment and Inventory. Company Guarantor hereby agrees that it shall: (i) keep all the Equipment and Inventory (other than Inventory sold in the ordinary course of business) at the places therefore specified in Paragraph 9(a) above or, upon 30 days’ prior written notice to the Administrative Agent, at such other places in a jurisdiction where all representations and warranties set forth in Paragraph 9 (including Paragraph 9(f)) shall be true and correct, and all action required pursuant to the first sentence of Paragraph 10(h) below shall have been taken with respect to the Equipment and Inventory; (ii) except to the extent that the failure to do so would not reasonably be expected to have a Material Adverse Effect, cause the Equipment to be maintained and preserved in the same condition, repair and working as when new, ordinary wear and tear excepted, and in accordance with any manufacturer’s manual; and forthwith, or in the case of any loss or damage to any of the Equipment, as quickly as practicable after the occurrence thereof, make or cause to be made all repairs, replacements, and other improvements in connection therewith which are necessary or desirable to such end; and promptly furnish to the Administrative Agent a statement respecting any loss or damage to any of the Equipment; and (iii) promptly pay when due all property and other taxes, assessments and governmental charges or levies imposed upon, and all claims (including claims for labor, materials and supplies) against, the Equipment and Inventory, except to the extent the validity thereof is being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP have been set aside.
Appears in 1 contract
Samples: Pledge and Security Agreement (Check Mart of New Mexico Inc)
As to Equipment and Inventory. Company hereby agrees that it The Grantor shall:
(ia) keep all of the Equipment and Inventory (other than Inventory sold in the ordinary course of business or used in the conduct of the business) at within the places therefore specified in Paragraph 9(a) above or, upon 30 days’ prior written notice to the Administrative Agent, at such other places in a jurisdiction United States of America where all representations and warranties set forth in Paragraph 9 (including Paragraph 9(f)) Article III shall be true and correctcorrect in all material respects, and all action required pursuant to the first sentence of Paragraph 10(h) below Section 4.1.8 shall have been taken with respect to the Equipment and Inventory; ;
(iib) except to the extent that the failure to do so would not reasonably be expected to have a Material Adverse Effect, cause the all Equipment to be maintained and preserved in the same condition, repair and working order as when newon the date hereof, ordinary wear and tear excepted, and in accordance with any manufacturer’s 's manual; and forthwith, or in the case of any loss or damage to any of the Equipment, as quickly as practicable after the occurrence thereof, make or cause to be made all repairs, replacements, and other improvements in connection therewith which are necessary or desirable to such endso that its business carried on in connection therewith may be properly conducted at all times unless the Grantor determines in good faith that the continued maintenance of any of its properties is no longer economically desirable; and promptly furnish to the Administrative Collateral Agent a statement respecting any loss or damage to any of the Equipment; and and
(iiic) pay promptly pay when due all property and other taxes, assessments and governmental charges or levies imposed upon, and all claims (including claims for labor, materials and supplies) against, the Equipment and Inventory, except to the extent the validity thereof is being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP have been set aside.
Appears in 1 contract