Existence, Properties, Etc. The Borrower shall (a) do or cause to be done all things necessary to preserve and keep in full force and effect its existence, all material rights and franchises and comply in all material respects with all Governmental Requirements applicable to it and (b) at all times maintain, preserve and protect all necessary franchises and trade names and preserve such of its property as the Borrower reasonably determines at any date of determination to be useful in the conduct of its business and keep the same in good repair, working order and condition, and from time to time make, or cause to be made, all needful and proper repairs, renewals and replacements, betterments and improvements thereto, so that the business carried on in connection therewith may be properly and advantageously conducted at all times, and the failure to do which would have a material adverse effect on the Borrower; and at all times keep its insurable properties adequately insured and maintain, and pay all premiums and costs of, (i) insurance on its properties to such extent and against such risks, including fire, as is customary with companies in the same or a similar business, (ii) necessary workmen's compensation insurance and (iii) such other insurance (including liability insurance) as may be required by law or as may otherwise be customarily maintained by companies in the same or a similar business.
Appears in 2 contracts
Samples: Credit Agreement (Morrison Restaurants Inc /Ga), Credit Agreement (Morrison Fresh Cooking Inc /Ga)
Existence, Properties, Etc. The Borrower shall (ai) do Do or cause to be done all things necessary to preserve and keep in full force and effect its existencethe legal existence of the Guarantor and all privileges, all material rights and franchises and comply in all material respects with all Governmental Requirements applicable laws where failure to it and so comply would have a Material Adverse Effect; (bii) at all times maintain, preserve and protect all necessary franchises and trade names and preserve such of its property as the Borrower reasonably determines at any date of determination to be used or useful in the conduct of its business where the failure to so maintain, preserve and protect would have a Material Adverse Effect, and keep the same in good repair, working order and condition, and from time to time make, or cause to be made, all needful necessary and proper repairs, renewals and replacements, betterments and improvements thereto, thereto so that (a) the business carried on in connection therewith may be properly and advantageously conducted at all times, times and (b) the failure to do which so repair or replace would not have a material adverse effect on the BorrowerMaterial Adverse Effect; and (iii) at all times keep its insurable properties adequately insured and maintain, where the failure to so keep and pay all premiums and costs ofmaintain would have a Material Adverse Effect, (ia) insurance on its properties to such extent and against such risks, including fire, as is customary with companies in the same or a similar business, (iib) necessary workmen's worker’s compensation insurance insurance, and (iiic) such other insurance (including liability insurance) as may be required by law or as may otherwise be customarily maintained reasonably required in writing by companies in the same or a similar businessTrustee; and (iv) cause the Credit Obligor to be named as loss payee on each of said policies relating to the Project.
Appears in 1 contract
Samples: Bond Guaranty Agreement (Transportation Technologies Industries Inc)
Existence, Properties, Etc. The Borrower shall (ai) do Do or cause to be done all things necessary to preserve and keep in full force and effect its existencethe legal existence of the Guarantor and all privileges, all material rights and franchises and comply in all material respects with all Governmental Requirements applicable laws where failure to it and so comply would have a Material Adverse Effect; (bii) at all times maintain, preserve and protect all necessary franchises and trade names and preserve such of its property as the Borrower reasonably determines at any date of determination to be used or useful in the conduct of its business where the failure to so maintain, preserve and protect would have a Material Adverse Effect, and keep the same in good repair, working order and condition, and from time to time make, or cause to be made, all needful necessary and proper repairs, renewals and replacements, betterments and improvements thereto, thereto so that (a) the business carried on in connection therewith may be properly and advantageously conducted at all times, times and (b) the failure to do which so repair or replace would not have a material adverse effect on the BorrowerMaterial Adverse Effect; and (iii) at all times keep its insurable properties adequately insured and maintain, where the failure to so keep and pay all premiums and costs ofmaintain would
have a Material Adverse Effect, (ia) insurance on its properties to such extent and against such risks, including fire, as is customary with companies in the same or a similar business, (iib) necessary workmen's worker’s compensation insurance insurance, and (iiic) such other insurance (including liability insurance) as may be required by law or as may otherwise be customarily maintained reasonably required in writing by companies in the same or a similar businessTrustee; and (iv) cause the Credit Obligor to be named as loss payee on each of said policies relating to the Project.
Appears in 1 contract
Existence, Properties, Etc. The Borrower shall (ai) do Do or cause to be done all things necessary to preserve and keep in full force and effect its existencethe legal existence of the Guarantor and all privileges, all material rights and franchises and comply in all material respects with all Governmental Requirements applicable laws where failure to it and so comply would have a Material Adverse Effect; (bii) at all times maintain, preserve and protect all necessary franchises and trade names and preserve such of its property as the Borrower reasonably determines at any date of determination to be used or useful in the conduct of its business where the failure to so maintain, preserve and protect would have a Material Adverse Effect, and keep the same in good repair, working order and condition, and from time to time make, or cause to be made, all needful necessary and proper repairs, renewals and replacements, betterments and improvements thereto, thereto so that (a) the business carried on in connection therewith may be properly and advantageously conducted at all times, times and (b) the failure to do which so repair or replace would not have a material adverse effect on the BorrowerMaterial Adverse Effect; and (iii) at all times keep its insurable properties adequately insured and maintain, where the failure to so keep and pay all premiums and costs ofmaintain would have a Material Adverse Effect, (ia) insurance on its properties to such extent and against such risks, including fire, as is customary with companies in the same or a similar business, (iib) necessary workmenworker's compensation insurance insurance, and (iiic) such other insurance (including liability insurance) as may be required by law or as may otherwise be customarily maintained reasonably required in writing by companies in the same or a similar businessTrustee; and (iv) cause the Credit Obligor to be named as loss payee on each of said policies relating to the Project.
Appears in 1 contract
Samples: Bond Guaranty Agreement (Johnstown America Industries Inc)