As to Equipment and Inventory. The Grantor hereby agrees that it shall (a) keep all the Equipment and Inventory (other than Inventory sold in the ordinary course of business) at the places therefor specified in Section 3.1.1 or, upon 30 days' prior written notice to the Collateral Agent, at such other places in a jurisdiction where all representations and warranties set forth in Article III (including Section 3.1.6) shall be true and correct, and all action required pursuant to the first sentence of Section 4.1.7 shall have been taken with respect to the Equipment and Inventory; (b) 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 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 Collateral Agent a statement respecting any loss or damage to any of the Equipment; and (c) pay promptly 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.
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Samples: Subsidiary Security Agreement (Foamex Fibers Inc), Subsidiary Security Agreement (Foamex International Inc), Subsidiary Security Agreement (Foamex Fibers Inc)
As to Equipment and Inventory. The Grantor hereby agrees that it shall
(a) keep all the Equipment and Inventory (other than Inventory sold in the ordinary course of business) at the places therefor specified in Section 3.1.1 3.4 or, upon 30 days' prior written notice to the Collateral Administrative Agent, at such other places in a jurisdiction where all representations and warranties set forth in Article III (including Section 3.1.63.9) shall be true and correct, and all action required pursuant to the first sentence of Section 4.1.7 4.10 shall have been taken with respect to the Equipment and Inventory;
(b) 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 manual; and forthwith, or in the case of any loss or damage to any of the such 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 Collateral Administrative Agent a statement respecting any loss or damage to any of the Equipmentsuch Equipment which could reasonably be expected to have a Material Adverse Effect; and
(c) pay promptly when due all property and other material 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: Borrower Security and Pledge Agreement (Nextel Partners Inc)
As to Equipment and Inventory. The Each Grantor hereby agrees that it shallwill
(a) 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 therefor specified in Section 3.1.1 3.3 or, upon 30 days' prior written notice to the Collateral Agent, at such other places in a jurisdiction where all representations and warranties set forth in Article III (including Section 3.1.6) shall be true and correct, and all action required pursuant to the first sentence of Section 4.1.7 4.6 shall have been taken with respect to the Equipment and Inventory;
(b) cause the Equipment to be maintained and preserved in the same condition, good repair and working order as when neworder, ordinary wear and tear excepted, and in accordance with any manufacturer'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 Collateral Agent a statement respecting any material loss or damage to any of the Equipment; and
(c) pay promptly 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. The Such Grantor hereby agrees that it shall
(a) keep all the Equipment and Inventory (other than Inventory sold in the ordinary course of business) at the places therefor specified in Section 3.1.1 or, upon 30 days' prior written notice to the Collateral Agent, at such other places in a jurisdiction where all representations and warranties set forth in Article ARTICLE III (including Section SECTION 3.1.6) shall be true and correct, and all action required pursuant to the first sentence FIRST SENTENCE of Section SECTION 4.1.7 shall have been taken with respect to the Equipment and Inventory;
(b) 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 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 Collateral Agent a statement respecting any loss or damage to any of the Equipment; and
(c) pay promptly 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
As to Equipment and Inventory. The Such Grantor hereby agrees ----------------------------- that it shall
(a) keep all the Equipment and Inventory (other than Inventory sold in the ordinary course of business) at the places therefor specified in Section 3.1.1 or, upon 30 days' prior written notice to the Collateral Agent, at such ------------- other places in a jurisdiction where all representations and warranties set forth in Article III (including Section 3.1.6) shall be true and correct, ----------- and all action required pursuant to the first sentence of Section 4.1.7 -------------- ------------- shall have been taken with respect to the Equipment and Inventory;
(b) 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 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 Collateral Agent a statement respecting any loss or damage to any of the Equipment; and
(c) pay promptly 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. The Grantor hereby agrees that it shall
(a) keep all the Equipment and Inventory (other than Inventory sold in the ordinary course of business) at the places therefor specified in Section SECTION 3.1.1 or, upon 30 days' prior written notice to the Collateral Agent, at such other places in a jurisdiction where all representations and warranties set forth in Article ARTICLE III (including Section SECTION 3.1.6) shall be true and correct, and all action required pursuant to the first sentence FIRST SENTENCE of Section SECTION 4.1.7 shall have been taken with respect to the Equipment and Inventory;
(b) 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 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 Collateral Agent a statement respecting any loss or damage to any of the Equipment; and
(c) pay promptly 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: Security Agreement (Aristotle Corp)
As to Equipment and Inventory. The Such Grantor hereby agrees that it shallwill:
(a) keep all the Equipment and Inventory (other than Inventory sold in the ordinary course of business) at the places therefor specified in Section 3.1.1 3.2 or, upon 30 days' β prior written notice to the Collateral Agent, at such other places in a jurisdiction where all representations and warranties set forth in Article III (including Section 3.1.6) shall be true and correctcorrect in all material respects, and all action required pursuant to the first sentence of Section 4.1.7 4.6 shall have been taken with respect to the Equipment and Inventory;
(b) cause the Equipment to be maintained and preserved in the same its existing condition, repair and working order 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 EquipmentEquipment that is material to the operations of any Grantor, as quickly soon 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 Collateral Agent a statement respecting any loss or damage to any of the EquipmentEquipment in excess of $1,250,000 per occurrence; and
(c) pay promptly when due all property and other taxesTaxes, assessments and governmental charges or levies imposed upon, and all claims (including claims for labor, materials and supplies) against, 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. The Such Grantor hereby agrees that it shallwill:
(a) keep all the Equipment and Inventory (other than Inventory sold in the ordinary course of business) at the places therefor specified in Section 3.1.1 3.2 or, upon 30 days' prior written notice to the Collateral Administrative Agent, at such other places in a jurisdiction where all representations and warranties set forth in Article III (including Section 3.1.6) shall be true and correctcorrect in all material respects, and all action required pursuant to the first sentence of Section 4.1.7 4.6 shall have been taken with respect to the Equipment and Inventory;
(b) cause the Equipment to be maintained and preserved in the same its existing condition, repair and working order 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 EquipmentEquipment that is material to the operations of any Grantor, as quickly soon 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 Collateral Administrative Agent a statement respecting any loss or damage to any of the EquipmentEquipment in excess of $1,000,000 per occurrence; and
(c) pay promptly when due all property and other taxesTaxes, assessments and governmental charges or levies imposed upon, and all claims (including claims for labor, materials and supplies) against, 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. The Grantor hereby agrees that it shall:
(a) keep all of the Equipment and Inventory (other than Inventory sold in the ordinary course of business) at the places therefor specified in Section 3.1.1 or, upon 30 thirty (30) days' prior written notice to the Collateral Agent, at such other places in a jurisdiction within the United States of America where all representations and warranties set forth in Article III (including Section 3.1.6) shall be true and correct, and all action required pursuant to the first sentence of Section 4.1.7 4.1.8 shall have been taken with respect to the Equipment and Inventory;
(b) 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 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 prudent to such end; and promptly furnish to the Collateral Agent upon request therefor, a statement respecting any loss or damage to any of the Equipment; and
(c) pay promptly 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
As to Equipment and Inventory. The Such Grantor hereby agrees that it shall
(a) keep all the Equipment and Inventory (other than Inventory sold in the ordinary course of business) at the places therefor specified in Section 3.1.1 3.4 or, upon 30 days' prior written notice to the Collateral Administrative Agent, at such other places in a jurisdiction where all representations and warranties set forth in Article III (including Section 3.1.63.9) shall be true and correct, and all action required pursuant to the first sentence of Section 4.1.7 4.10 shall have been taken with respect to the Equipment and Inventory;
(b) 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 manual; and forthwith, or in the case of any loss or damage to any of the such 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 Collateral Administrative Agent a statement respecting any loss or damage to any of the Equipmentsuch Equipment which could reasonably be expected to have a Material Adverse Effect; and
(c) pay promptly when due all property and other material 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 Security and Pledge Agreement (Nextel Partners Inc)
As to Equipment and Inventory. The Such Grantor hereby agrees that it shallwill:
(a) keep all the Equipment and Inventory (other than Inventory sold in the ordinary course of business) at the places therefor specified in Section 3.1.1 3.2 or, upon 30 days' β prior written notice to the Collateral Administrative Agent, at such other places in a jurisdiction where all representations and warranties set forth in Article III (including Section 3.1.6) shall be true and correctcorrect in all material respects, and all action required pursuant to the first sentence of Section 4.1.7 4.6 shall have been taken with respect to the Equipment and Inventory;
(b) cause the Equipment to be maintained and preserved in the same its existing condition, repair and working order 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 EquipmentEquipment that is material to the operations of any Grantor, as quickly soon 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 Collateral Administrative Agent a statement respecting any loss or damage to any of the EquipmentEquipment in excess of $1,000,000 per occurrence; and
(c) pay promptly when due all property and other taxesTaxes, assessments and governmental charges or levies imposed upon, and all claims (including claims for labor, materials and supplies) against, 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. The Grantor hereby agrees ----------------------------- that it shall
(a) keep all the Equipment and Inventory (other than Inventory sold in the ordinary course of business) at the places therefor specified in Section 3.1.1 or, upon 30 days' prior written notice to the Collateral Agent, at such ------------- other places in a jurisdiction where all representations and warranties set forth in Article III (including Section 3.1.6) shall be true and correct, ----------- ------------- and all action required pursuant to the first sentence of Section 4.1.7 -------------- ------------- shall have been taken with respect to the Equipment and Inventory;
(b) 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 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 Collateral Agent a statement respecting any loss or damage to any of the Equipment; and
(c) pay promptly 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)