Common use of CERTAIN COVENANTS OF GRANTOR Clause in Contracts

CERTAIN COVENANTS OF GRANTOR. Grantor shall: (a) not use or permit any Collateral to be used unlawfully or in violation of any provision of the Transaction Documents or any applicable statute, regulation or ordinance or any policy of insurance covering the Collateral; (b) give HC Royalty thirty (30) days’ written notice after any change in Grantor’s name, identity or corporate structure or reincorporation, reorganization, or taking of any other action that results in a change of the jurisdiction of organization of Grantor; (c) give HC Royalty thirty (30) days’ written notice after any change in Grantor’s sole place of business, chief executive office or the office where Grantor keeps its records regarding the Collateral or a reincorporation, reorganization or other action that results in a change of the jurisdiction of organization of Grantor; and (d) pay promptly when due all taxes, assessments and governmental charges or levies imposed upon, and all claims against, the Collateral, except to the extent the validity thereof is being diligently contested in good faith and the applicable Grantor maintains reserves appropriate therefor under the generally accepted accounting principles used by Grantor in the preparation of its financial statements; provided that Grantor shall in any event pay such taxes, assessments, charges, levies or claims not later than three (3) Business Days prior to the date of any proposed sale under any judgment, writ or warrant of attachment entered or filed against Grantor or any of the Collateral as a result of the failure to make such payment; provided that the foregoing covenant shall not apply to any such taxes, assessments and governmental charges or levies imposed upon or claims against HC Royalty as owner of the Collateral.

CERTAIN COVENANTS OF GRANTOR. Grantor shall: (a) not use or permit any Collateral to be used unlawfully or in violation of any provision of the Transaction Documents this Agreement or any applicable statute, regulation or ordinance or any policy of insurance covering the Collateral; (b) give HC Royalty thirty (30) days’ written notice after notify Agent of any change in Grantor’s 's name, identity or corporate structure or reincorporation, reorganization, or taking within 15 days of any other action that results in a change of the jurisdiction of organization of Grantorsuch change; (c) give HC Royalty thirty (30) days’ written notice after any change in Grantor’s sole keep its chief place of business, chief executive office or residence, the office where Grantor keeps its records regarding the Collateral and the places where Equipment and Inventory are kept at the locations therefor specified in Section 3 hereof, or a reincorporationupon 30 days' prior written notice to Agent, reorganization or at such other places in jurisdictions where all action that results may be necessary or desirable, or that Agent may request, in a change order to perfect and protect any security interest granted or purported to be granted hereby, or to enable Agent to exercise and enforce its rights and remedies hereunder, with respect to the Collateral shall have been taken; (d) if Agent gives value to enable Grantor to acquire rights in or the use of the jurisdiction of organization of Grantorany Collateral, use such value for such purposes; and (de) 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 Collateral, except to the extent the validity thereof is being diligently contested in good faith and the applicable Grantor maintains reserves appropriate therefor under the generally accepted accounting principles used by Grantor in the preparation of its financial statementsfaith; provided that Grantor shall in any event pay such taxes, assessments, charges, levies or claims not later than three (3) Business Days five days prior to the date of any proposed sale under any judgmentjudgement, writ or warrant of attachment entered or filed against Grantor or any of the Collateral as a result of the failure to make such payment; provided that the foregoing covenant shall not apply to any such taxes, assessments and governmental charges or levies imposed upon or claims against HC Royalty as owner of the Collateral.