Condition of Inventory and Equipment. (a) The Equipment is adequate for the uses for which it is being put. The Equipment is sufficient for the continued conduct of the Business after the Closing in substantially the same manner as conducted prior to the Closing.
Condition of Inventory and Equipment. (a) Except as set forth on Schedule 5.11(a), all Inventory located at the Acquired Stores is of a quality or condition usable or saleable at prevailing market prices in the ordinary course of the operation of the Business and free of any known defect or other deficiency. Since January 1, 2012, none of the Sellers or any of their Affiliates has, whether voluntarily or as a result of any action by any Governmental Authority or trade or consumer group, generally recalled or withdrawn (or been requested to recall or withdraw) a product for any reason, including any manufacturing or labeling defect or any other product safety issue, or issued any press release or public statements advising its customers or consumers of its products to treat such products in any manner other than in the ordinary course.
Condition of Inventory and Equipment. The Inventory and Equipment delivered to Buyer shall be in the same condition upon such delivery as at the time of inspection of the Inventory and Equipment by Buyer as determined in Buyer's sole discretion. Any damage to the Inventory or Equipment between Buyer's inspection and the Closing Date shall be the sole responsibility of Martin.
Condition of Inventory and Equipment. (a) Each item of the Company’s machinery, equipment, tools and dies, hand tools, motor vehicles, rolling stock, leasehold improvements, furniture, supplies, office equipment, computers and other data processing hardware, improvements, parts and other tangible personal property used or held for use in the operation of the Business (collectively, the “Equipment”) has been subject to ordinary and reasonable maintenance. Purchaser has examined and will accept the Equipment in “as is” “where is” condition at Closing, without warranty. Members have advised Purchaser in writing, as set forth on Schedule 4.14, to the best of their knowledge, of all known needed repair or maintenance (other than routine maintenance such as oil changes or tire rotation).
Condition of Inventory and Equipment. The Debtor will promptly notify the Bank of any casualty or similar event which results in a material decline in the value of any substantial portion of its Inventory or Equipment and the amount of such decline in value.
Condition of Inventory and Equipment. All tangible Assets owned or used by the Group Companies are in usable condition, ordinary wear and tear excepted.
Condition of Inventory and Equipment. Purchaser has examined and is familiar and will accept all Purchased Assets in “as is” “where is” condition at Closing, without warranty. With respect to the Equipment, Seller has advised Purchaser in writing, as set forth on Schedule 4.14, to the best of its knowledge, of all known needed repair or maintenance other than routine maintenance such as oil changes or tire rotation. Seller shall deliver to Purchaser, at Closing, required certifications for overhead cranes and VPI tanks included in the Purchased Assets.
Condition of Inventory and Equipment. Borrower shall keep and maintain all of its Inventory and Equipment (other than obsolete Equipment) in good order and repair (ordinary wear and tear excepted), and shall promptly notify Lender of any casualty or similar event which results in a material decline in the value of any substantial portion of its Inventory, Equipment or other Collateral and the estimated amount of such decline in value.
Condition of Inventory and Equipment. The Obligors will promptly notify the Purchaser of any casualty or similar event which results in a material decline in the value of any substantial portion of its Inventory and Equipment. Subject to the rights of the Senior Lender under the Senior Loan Documents and the terms and conditions of the Senior Loan Subordination Agreement, each Obligor hereby grants to the Purchaser, as additional security for payment of the Obligations, a security interest in any and all monies due or to become due under, and any and all other rights of any Obligor with respect to, any and all policies of insurance covering the Collateral. Prior to the occurrence of an Event of Default, the Obligors may use such insurance proceeds for the replacement, restoration or repair of the Collateral. After the occurrence and during the continuance of an Event of Default, the Purchaser may, subject to the rights of the Senior Lender under the Senior Loan Documents and the terms and conditions of the Senior Loan Subordination Agreement, (but need not) in its own name or in any applicable Obligor’s name execute and deliver proofs of claim, receive such monies, and settle or litigate any claim against the issuer of any such policy and such Obligor shall direct the issuer to pay any such monies directly to the Purchaser and the Purchaser, at its sole discretion and regardless of whether the Purchaser exercises its right to collect insurance proceeds under this sentence, may apply any insurance proceeds to the payment of the Obligations, whether due or not, in accordance with Section 13.09, or the Purchaser may permit such applicable Obligor to use such insurance proceeds for the replacement, restoration or repair of the Collateral.
