Common use of Equipment and Inventory Clause in Contracts

Equipment and Inventory. Grantor covenants and agrees with Agent that from the date of this Agreement and until termination of this Agreement, including pursuant to Section 25, Grantor shall: (a) Keep the Equipment and Inventory (other than Equipment or Inventory sold or disposed of as permitted by the Credit Agreement or in the ordinary course of business) at the places specified in Section 5(a), except for Equipment and Inventory (i) temporarily in transit between such locations or (ii) temporarily held by third parties for storage, processing, engineering, manufacturing, evaluation, or repair and set forth on Schedule 2-A in amounts not in excess of $500,000 and in connection with which the Grantor has complied with the requirements set forth in Section 6, and deliver written notice to Agent at least thirty (30) days prior to establishing any other location at which or third party with which it reasonably expects to maintain Inventory and/or Equipment in which location or with which third party all action required by this Agreement shall have been taken with respect to all such Equipment and Inventory; (b) Maintain or cause to be maintained in good repair, working order and condition, excepting ordinary wear and tear and damage due to casualty, all of the Equipment, and make or cause to be made all appropriate repairs, renewals and replacements thereof, as quickly as practicable after the occurrence of any loss or damage thereto which are necessary or desirable to such end; and (c) Comply with the terms of the Credit Agreement with respect to such Equipment and Inventory, including, without limitation, the maintenance and insurance provisions set forth in Section 6.2(E), (G) and (I) of the Credit Agreement.

Appears in 2 contracts

Samples: Security Agreement (Gfsi Inc), Security Agreement (Gfsi Inc)

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Equipment and Inventory. Grantor covenants and agrees with Agent that from the date of this Agreement and until termination of this Agreement, including Agreement pursuant to Section 25, Grantor shall: (a) Keep the Equipment and Inventory (other than Equipment or Inventory sold or disposed of as permitted by the Credit Agreement or in the ordinary course of business) at the places specified in Section 5(a), except for Equipment and Inventory (i) temporarily in transit between such locations or (ii) temporarily held by stored with the third parties for storage, processing, engineering, manufacturing, evaluation, or repair and set forth on Schedule 2-A in amounts not in excess of $500,000 and in connection with which the Grantor has complied with the requirements set forth in Section 6maximum amounts indicated for each such location, and deliver written notice to Agent at least thirty (30) days prior to establishing any other location at which or third party with which it reasonably expects to maintain Inventory and/or Equipment in which location or with which third party all action required by this Agreement shall have been taken with respect to all such Equipment and Inventory; (b) Maintain or cause to be maintained in good repair, working working, order and condition, excepting excepting, ordinary wear and tear and damage due to casualty, all of the Equipment, and make or cause to be made all appropriate repairs, renewals and replacements thereof, as quickly as practicable after the occurrence of any loss or damage thereto which are necessary or desirable to such end; and; (c) Comply with the terms of the Credit Agreement with respect to such Equipment and Inventory, including, without limitation, the maintenance and insurance provisions set forth in Section 6.2(E), (G) and (I) of the Credit Agreement.;

Appears in 1 contract

Samples: Consent Agreement (SCP Pool Corp)

Equipment and Inventory. Each Grantor covenants and agrees with the Administrative Agent that from the date of this Agreement and until termination of this Agreement, including Agreement pursuant to Section 25, such Grantor shall: (aA) Keep the its Equipment and Inventory (other than Equipment or Inventory sold or disposed of as permitted by the Credit Agreement or in the ordinary course of businessAgreement) at the places specified in Section 5(a5(A), except for Equipment and Inventory (i) temporarily in transit to, from or between such locations or (ii) temporarily stored with third parties or held by third parties for processing, storage, processingconsignment, engineering, manufacturing, evaluation, repair or repair sale and set forth on in Schedule 2-A in amounts not in excess (other than such locations where such Collateral was required to be removed pursuant to the provisions of $500,000 and in connection with which the Grantor has complied with the requirements set forth in Section 6), and deliver written notice to the Administrative Agent at least thirty (30) days prior to establishing any other location at which or third party with which it reasonably expects to maintain Inventory and/or Equipment in which location or with which third party all action required by this Agreement shall have been taken with respect to all such Equipment and Inventory; (bB) Maintain or cause to be maintained in good repair, working order and condition, excepting ordinary wear and tear and damage due to casualty, all of the Equipment, and make or cause to be made all appropriate repairs, renewals and replacements thereof, as quickly as practicable after the occurrence of any loss or damage thereto which are necessary or desirable to such end; and (cC) Comply with the terms of the Credit Agreement with respect to such Equipment and Inventory, including, without limitation, the maintenance and insurance provisions set forth in Section 6.2(E), (G) and (I7.2(E) of the Credit Agreement.

Appears in 1 contract

Samples: Security Agreement (Sybron Dental Specialties Inc)

Equipment and Inventory. Grantor covenants and agrees with ----------------------- Agent that from the date of this Agreement and until termination of this Agreement, including pursuant to Section 25, Grantor shall:: ---------- (a) Keep the Equipment and Inventory (other than Equipment or Inventory sold or disposed of as permitted by the Credit Agreement or in the ordinary course of business) at the places specified in Section 5(a), except for ------------ Equipment and Inventory (i) temporarily in transit between such locations or (ii) temporarily held by third parties for storage, processing, engineering, manufacturing, evaluation, or repair and set forth on Schedule 2-A in ------------ amounts not in excess of $500,000 and in connection with which the Grantor has complied with the requirements set forth in Section 6, and deliver written --------- notice to Agent at least thirty (30) days prior to establishing any other location at which or third party with which it reasonably expects to maintain Inventory and/or Equipment in which location or with which third party all action required by this Agreement shall have been taken with respect to all such Equipment and Inventory; (b) Maintain or cause to be maintained in good repair, working order and condition, excepting ordinary wear and tear and damage due to casualty, all of the Equipment, and make or cause to be made all appropriate repairs, renewals and replacements thereof, as quickly as practicable after the occurrence of any loss or damage thereto which are necessary or desirable to such end; and (c) Comply with the terms of the Credit Agreement with respect to such Equipment and Inventory, including, without limitation, the maintenance and insurance provisions set forth in Section 6.2(E62(E), (G) and (I) of the Credit ------------- --- --- Agreement.

Appears in 1 contract

Samples: Credit Agreement (Gfsi Inc)

Equipment and Inventory. Each Grantor covenants and agrees with the Agent that from the date of this Agreement and until the termination of this Agreement, including Agreement pursuant to Section 2524, each Grantor shall: (aA) Keep the its Equipment and Inventory (other than Equipment or Inventory sold or disposed of as permitted by the Credit Agreement or in the ordinary course of businessAgreement) at the places specified in Section 5(a5(A) (as amended or supplemented from time to time), except for Equipment and Inventory (i) temporarily in transit to, from or between such locations or (ii) temporarily stored with third parties or held by third parties for processing, storage, processingconsignment, engineering, manufacturing, evaluation, repair or repair sale and set forth on in Schedule 2-A in amounts not in excess (other than such locations where such Collateral was required to be removed pursuant to the provisions of $500,000 and in connection with which the Grantor has complied with the requirements set forth in Section 6), and deliver written notice to the Agent at least thirty (30) days prior to establishing any other location at which or third party with which it reasonably expects to maintain Inventory and/or Equipment in which location or with which third party all action required by this Agreement shall have been taken with respect to all such Equipment and Inventory; (bB) Maintain or cause to be maintained in good repair, working order and condition, excepting ordinary wear and tear and damage due to casualty, all of the Equipment, and make or cause to be made all appropriate repairs, renewals and replacements thereof, as quickly as practicable after the occurrence of any loss or damage thereto which are necessary or desirable to such end; and (cC) Comply with the terms of the Credit Agreement with respect to such Equipment and Inventory, including, without limitation, the maintenance and insurance provisions set forth in Section 6.2(E), (G) and (I7.1(C) of the Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (CTS Corp)

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Equipment and Inventory. Grantor covenants and agrees with Agent Secured Party that from the date of this Agreement and until termination of this Agreement, including Agreement pursuant to Section SECTION 25, Grantor shall: (a) Keep the Equipment and Inventory (other than Equipment or Inventory sold or disposed of as permitted by the Credit Agreement or in the ordinary course of businessNote) at the places specified in Section 5(aon Schedule 10(a), except for Equipment and Inventory (i) temporarily in transit between such locations or (ii) temporarily stored with the third parties or held by third parties for storage, processing, engineering, manufacturing, evaluation, repair or repair and set forth on Schedule 2-A in amounts not in excess of $500,000 and in connection with which the Grantor has complied with the requirements set forth in Section 6, sale and deliver written notice to Agent Secured Party at least thirty (30) days prior to establishing any other location at which or third party with which it reasonably expects to maintain Inventory and/or Equipment in which location or with which third party all action required by this Agreement shall have been taken with respect to all such Equipment and Inventory; (b) Maintain or cause to be maintained in good repair, working order and condition, excepting ordinary wear and tear and damage due to casualty, all of the Equipment, and make or cause to be made all appropriate repairs, renewals and replacements thereof, as quickly as practicable after the occurrence of any loss or damage thereto which are necessary or desirable to such end; and (c) Comply with the terms of the Credit Agreement Note with respect to such Equipment and Inventory, including, without limitation, the maintenance Inventory and to maintain insurance provisions set forth in Section 6.2(E), (G) and (I) of the Credit Agreementsuch amounts as is customary in Grantor's industry.

Appears in 1 contract

Samples: Security Agreement (Ifr Systems Inc)

Equipment and Inventory. Grantor covenants and agrees with the Administrative Agent that from the date of this Agreement and until termination of this Agreement, including Agreement pursuant to Section 25, Grantor shall: (a) Keep the Equipment and Inventory (other than Equipment or Inventory sold or disposed of as permitted by the Credit Agreement or in the ordinary course of businessAgreement) at the places specified in Section 5(a), except for Equipment and Inventory (i) temporarily in transit between such locations or (ii) temporarily held by third parties for storage, processing, engineering, manufacturing, evaluation, or repair and set forth on Schedule 2-A in amounts not in excess of $500,000 and in connection with which the Grantor has complied with the requirements set forth in Section 6locations, and deliver written notice to the Administrative Agent at least thirty (30) days prior to establishing any other location at which or third party with which it reasonably expects to maintain Inventory and/or Equipment in which location or with which third party all action required by this Agreement shall have been taken with respect to all such Equipment and Inventory; (b) Maintain or cause to be maintained in good repair, working order and condition, excepting ordinary wear and tear and damage due to casualty, all of the Equipment, and make or cause to be made all appropriate repairs, renewals and replacements thereof, as quickly as practicable after the occurrence of any loss or damage thereto which are necessary or desirable to such end; and (c) Comply with the terms of the Credit Agreement with respect to such Equipment and Inventory, including, without limitation, the maintenance and insurance provisions set forth in Section 6.2(E), (G) and (I) 6.2 of the Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Brightpoint Inc)

Equipment and Inventory. Grantor covenants and agrees with ----------------------- Agent that from the date of this Agreement and until termination of this Agreement, including Agreement pursuant to Section 25, Grantor shall:: ---------- (a) Keep the Equipment and Inventory (other than Equipment or Inventory sold or disposed of as permitted by the Credit Agreement or in the ordinary course of business) at the places specified in Section 5(a), except for Equipment and ------------ Inventory (i) temporarily in transit between such locations or (ii) temporarily stored with the third parties or held by third parties for storage, processing, engineering, manufacturing, evaluation, repair or repair sale and set forth on Schedule 2-A in amounts not in excess of $500,000 and in ------------ connection with which the Grantor has complied with the requirements set forth in Section 6, and deliver written notice to Agent at least thirty (30) days --------- prior to establishing any other location at which or third party with which it reasonably expects to maintain Inventory and/or Equipment in which location or with which third party all action required by this Agreement shall have been taken with respect to all such Equipment and Inventory; (b) Maintain or cause to be maintained in good repair, working order and condition, excepting ordinary wear and tear and damage due to casualty, all of the Equipment, and make or cause to be made all appropriate repairs, renewals and replacements thereof, as quickly as practicable after the occurrence of any loss or damage thereto which are necessary or desirable to such end; and (c) Comply with the terms of the Credit Agreement with respect to such Equipment and Inventory, including, without limitation, the maintenance and insurance provisions set forth in Section 6.2(E), (G) and (I) of the Credit -------------- --- --- Agreement.

Appears in 1 contract

Samples: Security Agreement (Pacer International Inc)

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