Common use of Equipment Covenants Clause in Contracts

Equipment Covenants. With respect to the Equipment: (a) Borrower shall, at its expense, at any time or times as Agent may request on or after an Event of Default, deliver or cause to be delivered to Agent written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Agent and by an appraiser acceptable to Agent; (b) Borrower shall keep the Equipment in good order, repair, running and marketable condition as necessary to carry on its business as currently conducted (ordinary wear and tear excepted); (c) Borrower shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity in all material respects with all applicable laws; (d) the Equipment is and shall be used in Borrower's business and not primarily for personal, family, household or farming use; (e) Borrower shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower in the ordinary course of business and obsolete Equipment not necessary for Borrower's business or Equipment permitted to be sold under Section 9.7; (f) the Equipment is now and shall remain personal property and Borrower shall not permit any of the Equipment having a book value in excess of $250,000 to be or become a part of or affixed to real property; and (g) Borrower assumes all responsibility and liability arising from the use of the Equipment.

Equipment Covenants. With respect to the Equipment: (a) Borrower each Debtor shall, at its expense, at any time or times as US Collateral Agent may request on or after while an Event of DefaultDefault has occurred and is continuing, deliver or cause to be delivered to US Collateral Agent written reports or appraisals as to the Equipment in form, scope and methodology acceptable to US Collateral Agent and by an appraiser acceptable to US Collateral Agent; (b) Borrower each Debtor shall keep the Equipment in good order, repair, running and marketable condition as necessary to carry on its business as currently conducted (ordinary wear and tear excepted); (c) Borrower each Debtor shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in material conformity in all material respects with all applicable laws; (d) the Equipment is and shall be used in Borrower's business Debtors’ businesses and not primarily for personal, family, household or farming use; (e) Borrower no Debtor shall not remove any Equipment from the locations set forth or permitted hereinon the Information Certificate, except to the extent provided in the US Loan Agreement or necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower such Debtor or to move Equipment directly from one location set forth or permitted herein on the Information Certificate to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower such Debtor in the ordinary course of business and obsolete Equipment not necessary for Borrower's business or Equipment permitted to be sold under Section 9.7business; (f) the Equipment is now and shall remain personal property and Borrower no Debtor shall not permit any of the Equipment having a book value in excess of $250,000 to be or become a part of or affixed to real property; and (g) Borrower each Debtor assumes all responsibility and liability arising from the use of the Equipment.

Equipment Covenants. With respect to the Equipment: (a) Borrower upon Lender's request, Borrowers shall, at its their expense, once each year during the term of this Agreement or at any time or times as Agent Lender may request on or after an Event of Default, deliver or cause to be delivered to Agent Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Agent Lender and by an appraiser acceptable to AgentLender; (b) Borrower Borrowers shall keep the Equipment in good order, repair, running and marketable condition as necessary to carry on its business as currently conducted (ordinary wear and tear excepted); (c) Borrower Borrowers shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity in all material respects with all applicable laws; (d) the Equipment is and shall be used in Borrower's business Borrowers' businesses and not primarily for personal, family, household or farming use; (e) Borrower Borrowers shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of any Borrower or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of any Borrower in the ordinary course of business and obsolete Equipment not necessary for Borrower's business or Equipment permitted to be sold under Section 9.7business; (f) the Equipment is now and shall remain personal property and Borrower Borrowers shall not permit any of the Equipment having a book value in excess of $250,000 to be or become a part of or affixed to real property; and (g) Borrower assumes Borrowers assume all responsibility and liability arising from the use of the Equipment.

Equipment Covenants. With respect to the Equipment: (a) upon ------------------- Lender's request, each Borrower shall, at its expense, at any time or times as Agent Lender may request on or after an Event of Default, deliver or cause to be delivered to Agent Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Agent Lender and by an appraiser acceptable to AgentLender; (b) Borrower Borrowers shall keep the Equipment in good order, repair, running and marketable condition as necessary to carry on its business as currently conducted (ordinary wear and tear excepted); (c) Borrower Borrowers shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity in all material respects with all applicable laws; (d) the Equipment is and shall be used in a Borrower's business and not primarily for personal, family, household or farming use; (e) no Borrower shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of such Borrower or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of such Borrower in the ordinary course of business and obsolete Equipment not necessary for Borrower's business or Equipment permitted to be sold under Section 9.7business; (f) the Equipment is now and shall remain personal property and Borrower shall not permit any of the Equipment having a book value in excess of $250,000 to be or become a part of or affixed to real property; and (g) each Borrower assumes all responsibility and liability arising from the use of the Equipment.

Equipment Covenants. With respect to the Equipment: (a) upon US Collateral Agent’s request, Borrower shall, at its expense, at any time or times as US Collateral Agent may request on or after while an Event of DefaultDefault exists, deliver or cause to be delivered to US Collateral Agent written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Agent Lender and by an appraiser acceptable to US Collateral Agent; (b) Borrower shall keep the Equipment in good order, repair, running and marketable condition as necessary to carry on its business as currently conducted (ordinary wear and tear excepted); (c) Borrower shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity in all material respects with all applicable laws; (d) the Equipment is and shall be used in Borrower's ’s business and not primarily for personal, family, household or farming use; (e) Borrower shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower in the ordinary course of business and obsolete Equipment not necessary for Borrower's business or Equipment permitted to be sold under Section 9.7business; (f) the Equipment is now and shall remain personal property and Borrower shall not permit any of the Equipment having a book value in excess of $250,000 to be or become a part of or affixed to real property; and (g) Borrower assumes all responsibility and liability arising from the use of the Equipment.

Equipment Covenants. With respect to the Equipment: (a) each US Borrower shall, at its expense, at least once each year or at any time or times as Agent Lender may request on or after an Event of Default, deliver or cause to be delivered to Agent Lender written reports or and/or appraisals as to the Equipment in form, scope scope, methodology and methodology timetable for delivery acceptable to Agent Lender and by an appraiser acceptable to AgentLender (an “Equipment Appraisal”); (b) each US Borrower shall keep the Equipment in good order, repair, running and marketable condition as necessary to carry on its business as currently conducted (ordinary wear and tear excepted); (c) each US Borrower shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity in all material respects with all applicable laws; (d) the Equipment is and shall be used in applicable US Borrower's ’s business and not primarily for personal, family, household or farming use; (e) each US Borrower shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of such US Borrower or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of a US Borrower in the ordinary course of business and obsolete Equipment not necessary for Borrower's business or Equipment permitted to be sold under Section 9.7business; (f) the Equipment is now and shall remain personal property and each US Borrower shall not permit any of the Equipment having a book value in excess of $250,000 to be or become a part of or affixed to real property; and (g) each US Borrower assumes all responsibility and liability arising from the use of the Equipment.

Equipment Covenants. With respect to the Equipment: (a) Borrower shall, at its expense, no more than once in any twelve (12) month period, but at any time or times as Agent Lender may request on or after an Event of Default, deliver or cause to be delivered to Agent Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Agent Lender and by an appraiser acceptable to AgentLender; (b) Borrower shall keep the Equipment in good order, repair, running and marketable condition as necessary to carry on its business as currently conducted (ordinary wear and tear excepted); (c) Borrower shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity in all material respects with all applicable laws; (d) the Equipment is and shall be used in Borrower's business and not primarily for personal, family, household or farming use; (e) Borrower shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower in the ordinary course of business and obsolete Equipment not necessary for Borrower's business or Equipment permitted to be sold under Section 9.7business; (f) the Equipment is now and shall remain personal property and Borrower shall not permit any of the Equipment having a book value in excess of $250,000 to be or become a part of or affixed to real property; and (g) Borrower assumes all responsibility and liability arising from the use of the Equipment.