Common use of Equipment, Fixtures and Inventory Clause in Contracts

Equipment, Fixtures and Inventory. (a) Debtor shall keep the Equipment, Fixtures and Inventory pledged by it hereunder (other than Inventory sold in the ordinary course of business) at the places therefor specified in Section 2.01(a) herein or, upon thirty days' prior written notice to Administrative Agent, at such other places in such jurisdiction where all action required by Section 3.01 herein shall have been taken with respect to the Equipment and Inventory. (b) Debtor shall, and shall cause each Subsidiary of the Debtor to, maintain or cause to be maintained all their material Properties necessary to the conduct of their business (whether owned or held under lease) in reasonably good repair, working order and condition, taken as a whole, and from time to time make or cause to be made all appropriate repairs, renewals, replacements, additions, betterments and improvements thereto. (c) The Debtor shall, and shall cause each Subsidiary of the Debtor to, pay and discharge all Taxes, assessments and governmental charges or levies imposed upon it or its income or Properties prior to the date on which penalties attach thereto, and all lawful material claims for labor, materials and supplies which, if unpaid, might become a Lien upon any of their Properties, except those Taxes, assessments and charges contested by the Debtor diligently in good faith, and for which adequate reserves have been established in accordance with GAAP. The Debtor shall, and shall cause the Parent, and each Subsidiary of the Debtor to, timely file all information returns required by federal, state or local Tax authorities.

Appears in 1 contract

Samples: Security Agreement (World Access Inc /New/)

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Equipment, Fixtures and Inventory. (a) Debtor shall keep the Equipment, Fixtures Fixtures, and Inventory pledged by it hereunder (other than Inventory sold in the ordinary course of business) at the places therefor specified in Section 2.01(a3.1 (a) herein or, upon thirty days' prior written notice to Administrative Agent, at such other places in such jurisdiction where all action required by Section 3.01 4.1 herein shall have been taken with respect to the Equipment and Inventory. (b) Debtor shall, and shall cause each Subsidiary of the Debtor to, maintain or cause to be maintained all their material Properties properties necessary to the conduct of their business (whether owned or held under lease) in reasonably good repair, working order order, and condition, taken as a whole, and from time to time make or cause to be made all appropriate repairs, renewals, replacements, additions, betterments betterments, and improvements thereto. (c) The Debtor shall, and shall cause each Subsidiary of the Debtor to, pay and discharge all Taxestaxes, assessments assessments, and governmental charges or levies imposed upon it or its income or Properties properties prior to the date on which penalties attach thereto, and all lawful material claims for labor, materials materials, and supplies which, if unpaid, might become a Lien upon any of their Propertiesproperties, except those Taxestaxes, assessments assessments, and charges contested by the Debtor diligently in good faith, and for which adequate reserves have been established in accordance with GAAP. The Debtor shall, and shall cause the Parent, and each Subsidiary of the Debtor to, timely file all information returns required by federal, state state, or local Tax tax authorities.

Appears in 1 contract

Samples: Security Agreement (Star Telecommunications Inc)

Equipment, Fixtures and Inventory. (a) Debtor Borrower shall keep the Equipment, Fixtures and Inventory pledged by it hereunder (other than Inventory sold in the ordinary course of businessbusiness or in transit between two permitted locations) at the places therefor specified in Section 2.01(a) herein or, upon thirty days' prior written notice to Administrative AgentSecured Party, at such other places in such jurisdiction jurisdictions where all action required by Section 3.01 7 herein shall have been taken with respect to the Equipment and Inventory. (b) Debtor Borrower shall, and shall cause each Subsidiary of the Debtor Borrower to, maintain or cause to be maintained all their material Properties necessary to the conduct of their business (whether owned or held under lease) in reasonably good repair, working order and condition, taken as a whole, and from time to time make or cause to be made all appropriate reasonably necessary repairs, renewals, replacements, additions, betterments and improvements thereto. (c) The Debtor Borrower shall, and shall cause each Subsidiary of the Debtor toBorrower, if any, to pay and discharge all Taxes, assessments and governmental charges or levies imposed upon it or its income or Properties prior to the date on which penalties attach thereto, and all lawful material claims for labor, materials and supplies which, if unpaid, might become a Lien upon any of their Propertiesproperties, except those Taxes, assessments and assessments, charges or levies contested by the Debtor Borrower diligently in good faith, and for which adequate reserves have been established in accordance with GAAP. The Debtor Borrower shall, and shall cause the Parent, and each Subsidiary of the Debtor Borrower to, timely file all information returns required by federal, state or local Tax authorities.

Appears in 1 contract

Samples: Security Agreement (Viseon Inc)

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Equipment, Fixtures and Inventory. (a) Debtor shall keep the Equipment, Fixtures and Inventory pledged by it hereunder (other than Inventory sold in the ordinary course of business) at the places therefor specified in Section 2.01(a) herein or, upon thirty days' --------------- prior written notice to Administrative AgentLender, at such other places in such jurisdiction where all action required by Section 3.01 herein shall have been ------------ taken with respect to the Equipment and Inventory. (b) Debtor shall, and shall cause the Parent, and each Subsidiary of the Debtor to, maintain or cause to be maintained all their material Properties necessary to the conduct of their business (whether owned or held under lease) in reasonably good repair, working order and condition, taken as a whole, and from time to time make or cause to be made all appropriate repairs, renewals, replacements, additions, betterments and improvements thereto. (c) The Debtor shall, and shall cause the Parent, and each Subsidiary of the Debtor to, pay and discharge all Taxes, assessments and governmental charges or levies imposed upon it or its income or Properties prior to the date on which penalties attach thereto, and all lawful material claims for labor, materials and supplies which, if unpaid, might become a Lien upon any of their Properties, except those Taxes, assessments and charges contested by the Debtor diligently in good faith, and for which adequate reserves have been established in accordance with GAAP. The Debtor shall, and shall cause the Parent, and each Subsidiary of the Debtor to, timely file all information returns required by federal, state or local Tax authorities.

Appears in 1 contract

Samples: Security Agreement (Itc Deltacom Inc)

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