Equipment Warranties and Covenants. Borrowers have maintained and shall cause all of their Equipment to be maintained and preserved in good working condition, repair and working order, ordinary wear and tear excepted, and shall promptly make or cause to be made all repairs, replacements, and other improvements in connection therewith that are necessary or desirable to such end. None of Borrowers' Equipment (other than motor vehicles not having a market value in excess of $10,000 individually) is covered by any certificate of title and Borrowers shall promptly notify Collateral Agent to the extent any Borrower obtains any Equipment (other than motor vehicles not having a market value in excess of $10,000 individually) covered by any certificate of title. After the occurrence and continuance of an Event of Default, upon request of Collateral Agent, Borrowers shall promptly deliver to Collateral Agent any and all certificates of title, applications for title or similar evidence of ownership of all of its Equipment and shall cause Collateral Agent to be named as lienholder on any such certificate of title or other evidence of ownership. Borrowers shall promptly inform Collateral Agent of any material additions to or material deletions from the Equipment unless such additions or deletions are promptly disclosed by Borrowers as "Capital Expenditures" in the quarterly financial statements required to be delivered pursuant to this Agreement.
Equipment Warranties and Covenants. Each Loan Party has maintained and shall cause all of its Equipment to be maintained and preserved in good working order, ordinary wear and tear excepted, and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. None of any Loan Party's Equipment is covered by any certificate of title and the applicable Loan Party shall promptly notify Agent to the extent such Loan Party obtains any Equipment covered by any certificate of title. Upon request of Agent, each Loan Party shall promptly deliver to Agent any and all certificates of title, applications for title or similar evidence of ownership of all of its Equipment and shall cause Agent to be named as lienholder on any such certificate of title or other evidence of ownership. Each Loan Party shall promptly inform Agent of any additions to or deletions from the Equipment and no Loan Party shall permit any such items to become Fixtures to real estate other than real estate subject to mortgages or deeds of trust in favor of Agent, for the benefit of itself and Lenders.
Equipment Warranties and Covenants. Each Loan Party has maintained and shall cause all of its material Equipment used in the Business to be maintained and preserved in the same condition, repair and working order as when new, ordinary wear and tear excepted, and in accordance with any manufacturer’s manual, and shall promptly make or cause to be made all repairs, replacements, and other improvements in connection therewith that Borrower deems necessary or desirable.
Equipment Warranties and Covenants. Each Restricted Loan Party has maintained all of the Equipment that is material to the Restricted Loan Party’s operations, and shall cause all such Equipment to be maintained, in good operating condition, repair and working order, ordinary wear and tear and casualty excepted, and shall promptly make or cause to be made all repairs, replacements, and other improvements in connection therewith that are necessary, in each case except where such failure would not reasonably be expected to result in a Material Adverse Effect. None of the Restricted Loan Parties’ Equipment (other than motor vehicles having an aggregate market value of less than $5,000,000, which have no Lien reflected on the titles related thereto) is covered by any certificate of title, and the Restricted Loan Parties shall promptly notify Agent to the extent any Restricted Loan Party obtains any Equipment (other than motor vehicles having a market value of less than $5,000,000 in the aggregate, which have no Lien reflected on the titles related thereto) covered by any certificate of title.
Equipment Warranties and Covenants. The Grantor has maintained and shall cause all of its material Equipment to be maintained in good repair and working order (except for damaged or defective goods arising in the ordinary course of the Grantor’s business and except for ordinary wear and tear in respect of the Equipment), and shall promptly make or cause to be made all necessary and proper repairs, replacements, and other improvements in connection therewith so that its business carried on in connection therewith may be properly conducted at all times. As of the Closing Date, none of the Grantor’s Equipment (other than motor vehicles not having a market value in excess of $100,000 in the aggregate) is covered by any certificate of title and, thereafter, the Grantor shall promptly notify the Lender to the extent the Grantor obtains any Equipment (other than motor vehicles not having a market value in excess of $100,000 in the aggregate) covered by any certificate of title. Upon request of the Lender, the Grantor shall promptly deliver to the Lender any and all certificates of title, applications for title, or similar evidence of ownership of all of its Equipment and shall cause the Lender to be named as lienholder on any such certificate of title or other evidence of ownership. The Grantor shall promptly inform the Lender of any material additions to or deletions from the Equipment and shall not permit any Equipment to become Fixtures to real estate other than real estate subject to mortgages or deeds of trust in favor of the Lender, for the benefit of itself and Lenders. The Grantor shall not permit any Equipment to be kept at a location other than those listed on Schedule 4(b), except for (i) Equipment in transit or temporarily out for repair in the ordinary course of business; (ii) Equipment in the possession of employees in the ordinary course of business; and (iii) Equipment which, together with any other Collateral at such location, has a fair market value that does not exceed $100,000 in the aggregate.
Equipment Warranties and Covenants. Each Grantor has maintained and shall cause all of its Equipment to be maintained in accordance with normal industry practice and is in good operating condition and working order, ordinary wear and tear excepted, and shall promptly make or cause to be made all repairs, replacements and other improvements in connection therewith that are necessary or desirable to such end. None of Grantor’s Equipment (other than motor vehicles not having a market value in excess of $100,000 in the aggregate) is covered by any certificate of title and Grantor shall promptly notify Administrative Agent to the extent Grantor obtains any Equipment (other than motor vehicles not having a market value in excess of $100,000 in the aggregate) covered by any certificate of title. Upon written request of Administrative Agent, each Grantor shall promptly deliver to Administrative Agent to hold, as bailee for the benefit of the Lenders, any and all certificates of title, applications for title or similar evidence of ownership of all of its Equipment and shall cause Administrative Agent to be named as lienholder on any such certificate of title or other evidence of ownership. No Grantor shall permit any such items to become Fixtures to real estate other than real estate subject to mortgages or deeds of trust in favor of Administrative Agent.
Equipment Warranties and Covenants. Each Grantor has maintained and shall cause all of its Equipment, if any, to be maintained and preserved in the same condition, repair and working order as when new, ordinary wear and tear excepted, and in accordance with any manufacturer’s manual, and shall promptly make or cause to be made all repairs, replacements, and other improvements in connection therewith that are necessary or desirable to such end. None of Grantor’s Equipment (other than motor vehicles not having a market value in excess of $50,000 in the aggregate) is covered by any certificate of title and Grantor shall promptly notify the Collateral Agent to the extent Grantor obtains any Equipment (other than motor vehicles not having a market value in excess of $50,000 in the aggregate) covered by any certificate of title. Upon written request of the Collateral Agent, each Grantor shall promptly deliver to the Collateral Agent any and all certificates of title, applications for title or similar evidence of ownership of all of its Equipment and shall cause the Collateral Agent to be named as lienholder on any such certificate of title or other evidence of ownership. Each Grantor shall promptly inform the Collateral Agent of any additions to or deletions from the Equipment if such additions or deletions are valued at an amount greater than $100,000 and shall not permit any such items to become Fixtures to real estate other than real estate subject to mortgages or deeds of trust in favor of the Collateral Agent.
Equipment Warranties and Covenants. Borrower has maintained and shall cause all of its Equipment to be maintained and preserved in good repair and working order, ordinary wear and tear excepted, and shall promptly make or cause to be made all repairs, replacements, and other improvements in connection therewith that are necessary or desirable to such end. Except as set forth on Schedule 4.5(C), none of Borrower’s Equipment is covered by any certificate of title and Borrower shall promptly notify Agent to the extent Borrower obtains any Equipment covered by any certificate of title not listed on Schedule 4.5(C). Borrower shall promptly deliver to Agent any and all certificates of title, applications for title or similar evidence of ownership of all of its Equipment and shall cause Agent to be named as lienholder on any such certificate of title or other evidence of ownership. Borrower shall promptly inform Agent of any additions to or deletions from the Equipment and shall not permit any such items to become Fixtures to real estate other than real estate subject to mortgages or deeds of trust in favor of Agent, for the benefit of itself and Lenders.
Equipment Warranties and Covenants. Borrowers have maintained and shall cause all of their Equipment to be maintained and preserved in good working condition, repair and working order, ordinary wear and tear excepted, and shall promptly make or cause to be made all repairs, replacements, and other improvements in connection therewith that are necessary or desirable to such end. None of Borrowers' Equipment (other than motor vehicles) is covered by any certificate of title and Borrowers shall promptly notify Collateral Agent to the extent any Borrower obtains any Equipment (other than motor vehicles) covered by any certificate of title. After the occurrence and continuance of an Event of Default, upon request of Collateral Agent, Borrowers shall promptly deliver to Collateral Agent any and all certificates of title, applications for title or similar evidence of ownership of all of its Equipment and shall cause Collateral Agent to be named as lienholder on any such certificate of title or other evidence of ownership. Borrowers shall promptly inform Collateral Agent of any material additions to or material deletions from the Equipment unless such additions or deletions are promptly disclosed by Borrowers as "Capital Expenditures" in the quarterly financial statements required to be delivered pursuant to this Agreement.
