Common use of Equipment Covenants Clause in Contracts

Equipment Covenants. With respect to the Equipment: (a) Borrower shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (b) Borrower shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (c) the Equipment is and shall be used in Borrower's business and not for personal, family, household or farming use;

Appears in 2 contracts

Samples: Loan and Security Agreement (Loehmanns Inc), Loan and Security Agreement (Cerplex Group Inc/De)

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Equipment Covenants. With respect to the EquipmentEquipment and subject to the rights of the Trustee: (a) Borrower shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (b) Borrower shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (c) the Equipment is and shall be used in Borrower's business and not for personal, family, household or farming use;; and

Appears in 1 contract

Samples: Loan and Security Agreement (Seven Seas Steamship Co Nv)

Equipment Covenants. With respect to the Equipment: : (a) Borrower shall keep the Equipment necessary to operate the businesses of Borrower in good order, repair, running and marketable condition (ordinary wear and tear excepted); (b) Borrower shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; and (c) as between Borrower and Lender, Borrower assumes all responsibility and liability arising from the Equipment is and shall be used in Borrower's business and not for personal, family, household or farming use;use of the Equipment.

Appears in 1 contract

Samples: Loan and Security Agreement (Poindexter J B & Co Inc)

Equipment Covenants. With respect to the Equipment: (a) Borrower shall keep the Equipment Equipment, other than obsolete Equipment, in good order, repair, running and marketable condition (ordinary wear and tear excepted); (b) Borrower shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (c) the Equipment is and shall be used in Borrower's business and not for personal, family, household or farming use;; and

Appears in 1 contract

Samples: Loan and Security Agreement (Toms Foods Inc)

Equipment Covenants. With respect to the Equipment: (a) Borrower shall ------------------- keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (b) Borrower shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (c) the Equipment is and shall be used in Borrower's business and not for personal, family, household or farming use;

Appears in 1 contract

Samples: General Security Agreement (Unidigital Inc)

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Equipment Covenants. With respect to the Equipment: Equipment and Real Property: (a) Borrower shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (b) Borrower shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (c) the Equipment is and shall be used in Borrower's business and not for personal, family, household or farming use;

Appears in 1 contract

Samples: Loan and Security Agreement (Party City Corp)

Equipment Covenants. With respect to the Equipment: (a) Borrower Borrowers shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (b) Borrower Borrowers shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (c) the Equipment is and shall be used in Borrower's Borrowers' business and not for personal, family, household or farming use;

Appears in 1 contract

Samples: Loan and Security Agreement (Trans World Entertainment Corp)

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