Common use of As to Equipment and Inventory Clause in Contracts

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 3.2 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 Article III (including Section 3.7) shall be true and correct, and all action required pursuant to the first sentence of Section 4.8 shall have been taken with respect to the Equipment and Inventory; (b) cause the Equipment to be maintained and preserved as required by Section 7.1.3 of the Credit Agreement; and promptly furnish to the Administrative Agent a statement respecting any loss or damage to any of such material Equipment; 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 5 contracts

Samples: Borrower Security Agreement (Dri I Inc), Credit Agreement (Dri I Inc), Borrower Security Agreement (Dri I Inc)

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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 3.2 3.4 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 Article III (including Section 3.73.9) shall be true and correct, and all action required pursuant to the first sentence of Section 4.8 4.10 shall have been taken with respect to the Equipment and Inventory; (b) cause the Equipment to be maintained and preserved as required by Section 7.1.3 4.05 of the Credit AgreementIndenture; and promptly furnish to the Administrative Collateral Agent a statement respecting any loss or damage to any of such material Equipment; 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: Pledge and Security Agreement (New World Coffee Manhattan Bagel 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 3.2 SECTION 3.4 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 Article ARTICLE III (including Section 3.7SECTION 3.9) shall be true and correct, and all action required pursuant to the first sentence FIRST SENTENCE of Section 4.8 SECTION 4.10 shall have been taken with respect to the Equipment and Inventory; (b) cause the Equipment to be maintained and preserved as required by Section 7.1.3 of the Credit Agreement; and promptly furnish to the Administrative Agent a statement respecting any loss or damage to any of such material Equipment; 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: Security and Pledge Agreement (World Almanac Education Group Inc)

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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 3.2 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 Article III (including Section 3.7) shall be true and correct, and all action required pursuant to the first sentence of Section 4.8 shall have been taken with respect to the Equipment and Inventory; (b) cause the Equipment to be maintained and preserved as required by Section 7.1.3 of the Credit Agreement; and promptly furnish to the Administrative Agent a statement respecting any loss or damage to any of such material Equipment; 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: Credit Agreement (Dri I Inc)

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