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, (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. (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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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 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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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 15.9:

  • 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 (a) Aradigm shall pay all royalties or other sums that Aradigm may owe to any THIRD PARTY by virtue of its activities under this Agreement, and shall perform and observe all of the other material obligations under all present and future agreements between Aradigm and any THIRD PARTY that are in any way related to Aradigm's ability to grant the rights Aradigm has granted to SB under this Agreement or to Aradigm's ability to perform its obligations to SB under this Agreement. In the event that Aradigm receives notice from any such THIRD PARTY that Aradigm has committed a breach of its obligations under any such agreement, or if Aradigm anticipates such breach, which breach may give rise to a right by such THIRD PARTY to terminate or materially diminish Aradigm's rights to PATENTS and/or INFORMATION in the FIELD licensed to Aradigm, which PATENTS and/or INFORMATION are sublicensed to SB hereunder, or otherwise to diminish materially Aradigm's ability to perform its obligations to SB under this Agreement, Aradigm shall immediately notify SB of such situation, and Aradigm shall promptly cure such breach. However, if Aradigm is unable to cure such breach, Aradigm shall, to the extent possible, permit SB to cure such breach on Aradigm's behalf. (b) SB shall pay all royalties or other sums that SB may owe to any THIRD PARTY by virtue of its activities under this Agreement, and shall perform and observe all of the other material obligations under all present and future agreements between SB and any THIRD PARTY that are in any way related to SB's ability to perform its obligations to Aradigm under this Agreement. In the event that SB receives notice from any such THIRD PARTY that SB has committed a breach of its obligations under any such agreement, or if SB anticipates such breach, which breach may give rise to a right by such THIRD PARTY to terminate or materially diminish SB's rights under such agreement or otherwise to diminish materially SB's ability to perform its obligations to SB under this Agreement, SB shall immediately notify Aradigm of such situation, and SB shall promptly cure such breach. However, if SB is unable to cure such breach, SB shall, to the extent possible, permit Aradigm to cure such breach on SB's behalf. (c) Aradigm agrees that Aradigm and its AFFILIATES shall not knowingly conduct any development work, either themselves or in conjunction with any other licensees or partners, on the AERx DEVICE or DRUG PRODUCTS for use outside the FIELD; provided that the foregoing shall not be interpreted to prevent Aradigm or its AFFILIATES or other licensees from developing other Aradigm pulmonary drug delivery products, including products based on the AERx design or technology, for use outside the FIELD and shall not limit Aradigm's rights under Section 2.9.

  • 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.

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