Common use of Covenants Concerning Collateral, Etc Clause in Contracts

Covenants Concerning Collateral, Etc. The Borrower further covenants with the Lender as follows: (a) the Collateral will be kept at the address of the Borrower set forth above, and the Borrower will not remove the Collateral from such location, without providing at least thirty (30) days prior written notice to the Lender, (b) except for Permitted Liens, the Borrower shall be the owner of the Collateral free from any right or claim of any other person or any lien, security interest or other encumbrance, and the Borrower shall defend the same against all claims and demands of all persons at any time claiming the same or any interests in this Agreement adverse to the Lender, (c) the Borrower shall not pledge, mortgage or create, or suffer to exist any right of any person in or claim by any person to the Collateral, or any security interest, lien or other encumbrance in the Collateral in favor of any person, other than the Lender, (d) the Borrower will permit the Lender, or its designee, to inspect the Collateral at any reasonable time, (e) the Borrower will pay promptly or cause to be paid when due all taxes, assessments, governmental charges and levies upon the Collateral or incurred in connection with the use or operation of such Collateral or incurred in connection with this Agreement (not including those taxes, assessments, charges or levies which are being diligently contested in good faith and by appropriate proceedings, and such contest operates to suspend collection of such contested taxes, assessments, charges and levies) and (f) no transfer or license to any Intellectual Property will be made without the Lender’s prior written consent.

Covenants Concerning Collateral, Etc. The Borrower Debtor further covenants with the Lender as follows: : (a) except for the Collateral will security interest herein granted and Permitted Liens and except as may be kept at the address specifically set forth in any insurances or entries of the Borrower set forth above, Vessel in a protection and the Borrower will not remove the Collateral from such location, without providing at least thirty (30) days prior written notice to the Lender, (b) except for Permitted Liensindemnity association, the Borrower shall be the owner of the Collateral respecting the Vessel free from any right or claim of any other person or any lien, security interest or other encumbranceencumbrance and, and the Borrower Debtor shall warrant and defend the same against all claims and demands of all persons at any time claiming the same or any interests in this Agreement therein adverse to the Lender, and shall, at its expense, cause such claim to be waived in writing or otherwise eliminated to the Lender’s satisfaction within 30 days after such claim shall become due and payable, (c) the Borrower Debtor shall not pledge, mortgage or create, or suffer to exist any right of any person in or claim by any person to the Collateral, or any a security interest, lien or other encumbrance interest in the Collateral in favor of any person, person other than the LenderLender except for Permitted Liens, (d) the Borrower Debtor will permit the Lender, or its designee, to inspect keep the Collateral at in good order and repair and will not use the same in violation of law or any reasonable timepolicy of insurance thereon, (e) the Borrower Debtor will pay promptly or cause to be paid when due all taxes, assessments, governmental charges and levies upon the Collateral or incurred in connection with the use or operation of such the Collateral or incurred in connection with this Agreement (not including those taxesAgreement, assessments, charges or levies which are being diligently contested in good faith and by appropriate proceedings, and such contest operates to suspend collection of such contested taxes, assessments, charges and levies) and (f) no transfer or license to any Intellectual Property will be made without the upon Lender’s prior written consentrequest, Debtor will give the Lender notice and copies of all other leases, charters or other agreements in the nature thereof entered into from time to time with respect to the Vessel and having a term of six (6) months or longer.

Covenants Concerning Collateral, Etc. The Borrower Debtor further covenants with the Lender Secured Party as follows: (a) the Collateral will be kept at the address Debtor’s place of the Borrower set forth abovebusiness on St. Croix, U.S. Virgin Islands and the Borrower Debtor will not remove the Collateral from such location, without providing at least thirty (30) days prior written notice to the LenderSecured Party, (b) except for Permitted Liensthe security interest herein granted, the Borrower Debtor shall be the owner of or have other rights in the Collateral free from any right or claim of any other person or any person, lien, security interest or other encumbrance, and the Borrower Debtor shall defend the same against all claims and demands of all persons at any time claiming the same or any interests in this Agreement therein adverse to the LenderSecured Party, (c) the Borrower Debtor shall not pledge, mortgage or create, or suffer to exist any right of any person in or claim by any person to the Collateral, or any security interest, lien or other encumbrance in the Collateral in favor of any person, other than the LenderSecured Party, (d) the Borrower Debtor will permit the LenderSecured Party, or its designee, to inspect the Collateral at any reasonable time, wherever located, (e) the Borrower Debtor will pay promptly or cause to be paid when due all taxes, assessments, governmental charges and levies upon the Collateral or incurred in connection with the use or operation of such Collateral or incurred in connection with this Agreement (not including those taxesAgreement, assessments, charges or levies which are being diligently contested in good faith and by appropriate proceedings, and such contest operates to suspend collection of such contested taxes, assessments, charges and levies) and (f) no transfer the Debtor will continue to operate, its business in compliance with all applicable provisions of the federal Fair Labor Standards Act, as amended, and with all applicable provisions of federal, Territory and local statutes and ordinances dealing with the control, shipment, storage or license disposal of hazardous materials or substances, and (g) the Debtor will not sell or otherwise dispose, or offer to sell or otherwise dispose, of the Collateral or any Intellectual Property will be made without the Lender’s prior written consentinterest therein.

Covenants Concerning Collateral, Etc. The Borrower further covenants with the Lender as follows: (a) the physical US Collateral will be kept at the address of the Borrower set forth above, and the Borrower will not remove the Collateral from such location, without providing at least thirty (30) 30 days prior written notice to the Lender, ; legal title to all worldwide collateral is held at the Borrower’s corporate address as set forth above; (b) except for Permitted Liens, the Borrower shall be the owner of the Collateral free from any right or claim of any other person or any lien, security interest or other encumbrance, and the Borrower shall defend the same against all claims and demands of all persons at any time claiming the same or any interests in this Agreement adverse to the Lender, (c) the Borrower shall not pledge, mortgage or create, or suffer to exist any right of any person in or claim by any person to the Collateral, or any security interest, lien or other encumbrance in the Collateral in favor of any person, other than the Lender, (d) the Borrower will permit the Lender, or its designee, to inspect the Collateral at any reasonable time, (e) the Borrower will pay promptly or cause to be paid when due all taxes, assessments, governmental charges and levies upon the Collateral or incurred in connection with the use or operation of such Collateral or incurred in connection with this Agreement (not including those taxes, assessments, charges or levies which are being diligently contested in good faith and by appropriate proceedings, and such contest operates to suspend collection of such contested taxes, assessments, charges and levies) and (f) no transfer or license to any Intellectual Property will be made without the LenderXxxxxx’s prior written consent.