Fair Market Value of Collateral. The fair market value of the Collateral is, and shall at all times be, not less than (a.) the value carried on Borrower’s financial statements (less normal depreciation caused by ordinary wear and tear); and (b.) as represented to Lender by Borrower.
Appears in 3 contracts
Samples: Loan and Security Agreement (DecisionPoint Systems, Inc.), Loan and Security Agreement (Andalay Solar, Inc.), Loan and Security Agreement (Great American Group, Inc.)
Fair Market Value of Collateral. The fair market value of the Collateral is, and shall at all times be, not less than (a.) the value carried on Borrower’s financial statements (less normal depreciation caused by ordinary wear and tear); ) and (b.) as represented to Lender by BorrowerLender.
Appears in 2 contracts
Samples: Loan and Security Agreement (Visualant Inc), Loan and Security Agreement (Orange 21 Inc.)
Fair Market Value of Collateral. The fair market value of the Collateral is, and shall at all times be, not less than (a.) the value carried on Borrower’s financial statements (less normal depreciation caused by ordinary wear and tear); and (b.) as represented to Lender Lenders by Borrower.
Appears in 1 contract
Fair Market Value of Collateral. The fair market value of the Collateral is, and shall at all times be, not less than (a.) the value carried on Borrower’s Borrower 's financial statements (less normal depreciation caused by ordinary wear and tear); ) and (b.) as represented to Lender by BorrowerLender.
Appears in 1 contract
Samples: Loan and Security Agreement (Vertical Branding, Inc.)
Fair Market Value of Collateral. The fair market value of the Collateral is, and shall at all times be, not less than (a.) the value carried on Borrower’s 's financial statements (less normal depreciation caused by ordinary wear and tear); ) and (b.) as represented to Lender by BorrowerLender.
Appears in 1 contract
Samples: Loan and Security Agreement (Mendocino Brewing Co Inc)
