Common use of Damage or Destruction of Collateral Clause in Contracts

Damage or Destruction of Collateral. Maintain or cause to be maintained the Collateral and all its Properties in good condition and repair at all times, preserve the Collateral and all its other Properties from loss, damage, or destruction of any nature whatsoever and provide Lender with prompt notice in a Record of any destruction or substantial damage to any Collateral subject to Lender's security interest and of the occurrence of any condition or event which has caused, or may cause, loss or depreciation in the value of any Collateral.

Appears in 3 contracts

Samples: Loan Agreement (Hudson Technologies Inc /Ny), Revolving Loan Agreement (Hudson Technologies Inc /Ny), Revolving Loan Agreement (Synergx Systems Inc)

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Damage or Destruction of Collateral. Maintain or cause to be maintained the Collateral and all its Properties in good condition and repair at all timestimes (normal wear and tear excepted), preserve the Collateral and all its other Properties from loss, damage, or destruction of any nature whatsoever and provide Lender Lenders with prompt written notice in a Record of any destruction or substantial damage to any Collateral subject to Lender's security interest and of the occurrence of any condition or event which has caused, or may would reasonably be expected to cause, material loss or depreciation in the value of any Collateral.

Appears in 3 contracts

Samples: Loan and Security Agreement (Fat Brands, Inc), Loan and Security Agreement (Fat Brands, Inc), Loan and Security Agreement (Fat Brands, Inc)

Damage or Destruction of Collateral. Maintain or cause to be maintained the Collateral and all its Properties in good condition and repair at all times, preserve the Collateral and all its other Properties from loss, damage, or destruction of any nature whatsoever and provide Lender with prompt notice in a Record of any destruction or substantial damage to any Collateral subject to Lender's ’s security interest and of the occurrence of any condition or event which has caused, or may cause, loss or depreciation in the value of any Collateral.

Appears in 1 contract

Samples: Loan Agreement (Hudson Technologies Inc /Ny)

Damage or Destruction of Collateral. Maintain or cause to be maintained the Collateral and all its Properties in reasonably good condition and repair at all times, preserve the Collateral and all its other Properties from loss, damage, or destruction of any nature whatsoever and provide Lender with prompt notice in a Record of any destruction or substantial damage to any Collateral subject to Lender's security interest and of the occurrence of any condition or event which has caused, or may cause, loss or depreciation in the value of any Collateral.

Appears in 1 contract

Samples: Loan Agreement (Iec Electronics Corp)

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Damage or Destruction of Collateral. Maintain or cause to be maintained the Collateral and all its Properties in good condition and repair at all timestimes (normal wear and tear excepted), preserve the Collateral and all its other Properties from loss, damage, or destruction of any nature whatsoever and provide Lender with prompt written notice in a Record of any destruction or substantial damage to any Collateral subject to Lender's security interest and of the occurrence of any condition or event which has caused, or may would reasonably be expected to cause, material loss or depreciation in the value of any Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Fat Brands, Inc)

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