Borrower’s General Covenants Sample Clauses

Borrower’s General Covenants. 7.1 Borrower shall keep proper records and books of account in accordance with generally accepted accounting principles consistently applied, and shall maintain, preserve and keep all of its properties and assets in good working order and condition, subject to ordinary wear and tear. 7.2 Borrower shall conduct its affairs in such manner as is appropriate for a public company whose shares are traded on the New York OTCQB, and in accordance with all laws and regulations by which it is bound. 7.3 Other than in the ordinary course of business or otherwise as agreed to in writing by the Lender, on a case by case basis, Borrower shall not create, incur, or assume any indebtedness, nor shall it create incur, assume or suffer any mortgage, pledge, lien, security interest, charge or encumbrance of any kind or nature in or upon any of its property or assets, whether now owned or hereafter acquired, nor shall it sell, lease, assign, transfer or otherwise dispose of any of its assets, including its accounts receivable.
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Borrower’s General Covenants. 6.1 Borrowers shall keep proper records and books of account in accordance with generally accepted accounting principles consistently applied, and shall maintain, preserve and keep all of its properties and assets in good working order and condition, subject to ordinary wear and tear. 6.2 Other than in the ordinary course of business or otherwise as agreed to in writing by the Lender, on a case by case basis, Borrowers shall not create, incur, or assume any indebtedness, nor shall it create incur, assume or suffer any mortgage, pledge, lien, security interest, charge or encumbrance of any kind or nature in or upon any of its property or assets, whether now owned or hereafter acquired, nor shall it sell, lease, assign, transfer or otherwise dispose of any of its assets, including its accounts receivable.
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Borrower’s General Covenants. Borrower hereby covenants and agrees that, until the Indebtedness has been paid in full, unless Borrower receives the prior written consent of Lender: (a) Borrower shall keep the Collateral free from any other lien, security interest or encumbrance, shall maintain the Collateral in good order and repair, shall use the Collateral in accordance with all laws, regulations and orders, and shall not sell, transfer, or dispose of any of the Collateral; (b) Borrower shall promptly advise Lender of any event or circumstance materially and adversely affecting the Collateral; (c) Borrower shall pay when due all taxes and similar obligations that might result in a lien on the Collateral if not paid. Borrower agrees to execute additional documents and take such other actions (at its expense) as Lender may reasonably request from time to time to implement or evidence the terms of this Agreement.
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Borrower’s General Covenants. Borrower hereby covenants and agrees that, until the Indebtedness has been paid in full, unless Borrower receives the prior written consent of Lender: (a) Borrower shall keep the Collateral free from any other lien, security interest or encumbrance, shall maintain the Collateral in good order and repair, shall use the Collateral in accordance with all laws, (b) Borrower shall promptly advise Lender of any event or circumstance materially and adversely affecting the Collateral; (c) Borrower shall pay when due all taxes and similar obligations that might result in a lien on the Collateral if not paid. Borrower agrees to execute additional documents and take such other actions (at its expense) as Lender may reasonably request from time to time to implement or evidence the terms of this Agreement.
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Borrower’s General Covenants. Borrower hereby covenants and agrees that, until the Indebtedness shall have been paid in full and the Loan Agreement is terminated: (a) Borrower shall keep the Collateral free from any adverse lien, security interest or encumbrance (other than the security interest granted herein). Borrower is not authorized to, and shall not, sell, transfer, deliver, dispose of, encumber or grant security interests in the Collateral. (b) Borrower shall and does hereby agree to indemnify and hold Lender harmless against all claims, defenses, liabilities and costs (including attorneys' fees) arising out of or in connection with Borrower's ownership of the Collateral. (c) Borrower shall ensure that Lender's security interest in the Collateral is now, and will at all times hereafter remain, a perfected, first priority security interest. Borrower shall (at its expense) execute, obtain, deliver and (if applicable) file or record all financing statements, consents, notices, control agreements and other documents, and take all other actions, that Lender may reasonably deem necessary or advisable to perfect or protect Lender's security interest in the Collateral against the interests of third parties. To the extent permitted by law, Borrower hereby authorizes Lender to file a financing statement, in the applicable filing office, describing the Collateral. Borrower agrees to pay all costs, taxes and fees payable in connection with any such filings. Lender is hereby irrevocably appointed Borrower's attorney-in-fact, which appointment is coupled with an interest, to do all acts and things that Lender may deem necessary to perfect and/or continue the perfection of the security interest created by this Agreement and to protect the Collateral. Borrower further agrees to pay all costs, taxes and fees payable in connection with the filing or recording of any financing statements, amendments, continuation statements or other filings. (d) Borrower shall not change its chief executive offices and principal places of business without giving Lender at least thirty (30) days prior written notice thereof and (at Borrower's expense) taking all steps necessary or advisable to preserve the perfection and priority of the security interests granted to Lender herein. (e) Borrower shall not change its name or the state in which it is formed, without giving Lender at least thirty (30) days prior written notice thereof and (at Borrower's expense) taking all steps necessary or advisable to preserve the p...
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Borrower’s General Covenants. (B) Bank may correct any and all patent errors in this Agreement or any financing statements or other documents executed in connection herewith. (C) Borrower shall furnish to Bank from time to time statements and schedules and such other reports in connection with the Collateral and/or the Leased Equipment as Bank may reasonably request. (D) Borrower shall keep and maintain at its own cost and expense satisfactory and complete Records of the Collateral and the Leased Equipment at its principal place of business, including without limitation, a record of all payments received and all other dealings with the Collateral. After the occurrence of and during the continuance of any Event of Default, Borrower shall deliver and turn over to Bank any such Records at any time on demand of Bank. (E) Promptly after Borrower's learning thereof, Borrower shall inform Bank in writing of any material delay or default in Borrower's or EDJ's performance of any of their respective obligations under the EDJ Lease, if such delay or default may give rise to any Material Adverse Change.
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Borrower’s General Covenants. During the term of the Loan (and unless otherwise specified herein), Borrower covenants and agrees as follows:
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Related to Borrower’s General Covenants

  • General Covenants The Corporation covenants with the Warrant Agent that, so long as any Warrants remain outstanding: (a) it will reserve and keep available a sufficient number of Common Shares for the purpose of enabling it to satisfy its obligations to issue Common Shares upon the exercise of the Warrants; (b) it will cause the Common Shares from time to time acquired pursuant to the exercise of the Warrants to be duly issued and delivered in accordance with the Warrants and the terms hereof; (c) all Common Shares which shall be issued upon exercise of the right to acquire provided for herein shall be fully paid and non-assessable; (d) it will use reasonable commercial efforts to maintain its existence and carry on its business in the ordinary course; (e) it will use reasonable commercial efforts to ensure that all Common Shares outstanding or issuable from time to time (including without limitation the Common Shares issuable on the exercise of the Warrants) continue to be or are listed and posted for trading on the NEO or CSE (or such other stock exchange acceptable to the Corporation), provided that this clause shall not be construed as limiting or restricting the Corporation from completing a consolidation, amalgamation, arrangement, takeover bid or merger that would result in the Common Shares ceasing to be listed and posted for trading on the NEO or CSE, so long as the holders of Common Shares receive securities of an entity that is listed on a stock exchange in Canada or the United States, or cash, or the holders of the Common Shares have approved the transaction in accordance with the requirements of applicable corporate and securities laws and the policies of the NEO, CSE or other stock exchange on which the Common Shares are trading; (f) it will make all requisite filings under applicable Canadian securities legislation including those necessary to remain a reporting issuer not in default in each of the provinces and other Canadian jurisdictions where it is or becomes a reporting issuer for a period of 24 months after the Effective Date, provided that this clause shall not be construed as limiting or restricting the Corporation from completing a consolidation, amalgamation, arrangement, takeover bid or merger that would result in the Common Shares ceasing to be listed and posted for trading on the NEO or CSE (or such other Canadian stock exchange acceptable to the Corporation), so long as the holders of Common Shares receive securities of an entity that is listed on a stock exchange in Canada or the United States, or cash, or the holders of the Common Shares have approved the transaction in accordance with the requirements of applicable corporate and securities laws and the policies of the NEO, CSE or other Canadian stock exchange on which the Common Shares are trading; (g) the Corporation will promptly notify the Warrant Agent and the Warrantholders in writing of any default under the terms of this Warrant Indenture which remains unrectified for more than ten days following its occurrence; (h) the Corporation will generally perform and carry out all of the acts or things to be done by it as provided in this Warrant Indenture.

  • Collateral Covenants Until the Revolving Credit Facility has been terminated and all the Secured Obligations have been paid in full, unless the Required Lenders shall otherwise consent in the manner provided in SECTION 16.11:

  • General Covenant The Lessee shall not assign this Lease or mortgage, pledge or sublet the Leased Premises herein described without the written consent of the Lessor. The Lessee shall contract with the other parties to use and maintain the Leased Premises in accordance with the laws, regulations and ordinances of the United States of America, the State of Indiana, the City and all other proper governmental authorities.

  • Special Covenants If any Company shall fail or omit to perform and observe Section 5.7, 5.8, 5.9, 5.11, 5.12, 5.13 or 5.15 hereof.

  • Certain Financial Covenants In addition to the covenants described in Section 5.1 and Section 5.2, so long as any Commitment remains in effect, any Advance is outstanding or any amount is owing to any Lender hereunder or under any other Loan Document, the Borrower will perform and comply with each of the covenants set forth on Schedule VI.

  • Certain Additional Covenants In addition to the covenants contained elsewhere in this Lease, Tenant covenants, during the Lease Term and for such further time as Tenant occupies any part of the Premises: (a) to pay when due all Annual Fixed Rent and Additional Rent and all charges provided hereunder for utility services rendered to the Premises and, as further Additional Rent, all charges for additional and special services rendered pursuant to Exhibit D; (b) to keep the Premises equipped with all safety appliances (including without limitation fire extinguishers) required by law or ordinance or any other regulation of any public authority, to procure all licenses and permits, other than the Building certificate of occupancy, in accordance with the terms of Section 9.2 hereof; (c) not to place a load upon any floor in the Premises exceeding the floor load per square foot of area which such floor was designed to carry and which is allowed by law as set forth in Exhibit D attached hereto; and not to move any safe, vault or other heavy equipment in, about or out of the Premises except in such manner and at such time as Landlord shall in each instance expressly authorize, such authorization not to be unreasonably withheld or conditioned. Tenant’s business machines and mechanical equipment shall be placed and maintained by Tenant at Tenant’s expense in settings sufficient to absorb and prevent vibration or noise that may be transmitted to the Building structure or to any other space in the Building; (d) to pay promptly when due all taxes which may be imposed upon personal property (including, without limitation, fixtures and equipment) in the Premises by whomever assessed; (e) to pay within thirty (30) days after demand as Additional Rent, regardless of whether any default or Event of Default has occurred or whether any proceeding to enforce the Lease has been commenced, all costs and expenses, reasonable attorneys’ fees and disbursements and other fees incurred by Landlord in connection with (i) the successful enforcement by Landlord of any obligation of Tenant under this Lease; (ii) the successful preservation and enforcement of Landlord’s rights and remedies in connection with the Lease; (iii) any unsuccessful attempt by Tenant to enforce any obligation or purported obligation of Landlord under this Lease; (iv) any unsuccessful action or proceeding brought by Tenant against Landlord related to this Lease. If Tenant prevails in any action or proceeding to enforce any provision of this Lease or the unsuccessful attempt by Landlord to enforce any obligation or purported obligation of Tenant under this Lease, Landlord shall pay within thirty (30) days after demand all costs and expenses, reasonable attorneys’ fees and disbursements and other fees incurred by Tenant in connection therewith. This provision shall survive the termination of this Lease; (f) [intentionally deleted]; (g) to cause all of the windows in the Premises to be kept closed; to keep entirely unobstructed at all times all of the vents, intakes, outlets and grills; and to comply with and observe all reasonable regulations and requirements prescribed by Landlord for the proper functioning of the heating, ventilating and air-conditioning system; and (h) not to, either directly or indirectly (i) conduct business in the Premises in such a manner that would or may create or (ii) use any contractors and/or labor and/or materials if the use thereof, would or may create, any labor disputes with other contractors and/or labor and/or materials engaged or used by Tenant or Landlord in the construction, maintenance and/or operation of the Unit or the Building or any part thereof. This provision shall apply prior to, as well as during, the Lease Term.

  • Financial Covenants of Borrower In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. Dated: ____________________

  • Compliance with Financial Covenants Schedule A attached hereto sets forth financial data and computations evidencing the Borrower’s compliance with certain covenants of the Agreement, all of which data and computations are true, complete and correct.

  • BORROWER'S NEGATIVE COVENANTS Borrower covenants and agrees that, so long as any of the Commitments hereunder shall remain in effect and until payment in full of all of the Loans and other Obligations and the cancellation or expiration of all Letters of Credit, unless Requisite Lenders shall otherwise give prior written consent, Borrower shall perform, and shall cause each of its Subsidiaries to perform, all covenants in this Section 7.

  • Financial Covenants (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with sound accounting practices the operations, resources and expenditures in respect of the Project of the departments or agencies of the Borrower responsible for carrying out the Project or any part thereof. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association, as soon as available, but in any case not later than six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records, accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account or payment out of the Special Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audit referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.