Common use of Equipment, Fixtures and Inventory Clause in Contracts

Equipment, Fixtures and Inventory. (a) Debtor shall keep its Equipment (other than vehicles), Fixtures and Inventory (other than Inventory in transit) constituting Collateral and having a value in excess of $100,000 at the locations specified on Schedule 4 or at such other places within the U.S. where all action required to perfect Secured Party's security interest in any such Equipment, Fixtures and Inventory with the priority required by the Restated Lease Agreement shall have been taken; provided that if any such Equipment (other than vehicles), Fixtures or Inventory (other than Inventory in transit) is being relocated to any jurisdiction where the security interest of Secured Party under this Agreement has not been previously perfected, then in such case Debtor shall deliver prompt (and in any event within not less than 30 days) notice thereof to Secured Party. (b) Debtor shall maintain material Equipment, Fixtures and Inventory constituting Collateral in good condition and repair (ordinary wear and tear excepted) and in accordance with the terms of the Restated Lease Agreement. Debtor shall not permit any waste or destruction of such Equipment, Fixtures or Inventory or any part thereof. Debtor shall not permit such Equipment, Fixtures or Inventory to be used in violation of any law, rule or regulation or the terms of any policy of insurance. Debtor shall not use or permit any of such Equipment, Fixtures or Inventory to be used in any manner or for any purpose that would impair its value or expose it to unusual risk. (c) Within 45 days of the end of each of Debtor's fiscal quarters, Debtor shall provide Secured Party with a report setting forth in reasonable detail any change during such preceding fiscal quarter of the location of any Equipment, Fixtures or Inventory (unless such location is one of the locations already specified on Schedule 4) constituting Collateral.