Grantor’s Covenants. Each Grantor covenants and agrees as follows:
(a) Such Grantor will keep the Collateral in reasonably good repair, working order and operating condition (normal wear and tear excluded), and from time to time make all necessary and proper repairs, renewals, replacements, additions and improvements thereto and, as appropriate and applicable, will otherwise deal with the Collateral in all such ways as are considered customary practice by owners of like property.
(b) Such Grantor will not sell, encumber, lease, rent, or otherwise dispose of or transfer any Collateral or right or interest therein, provided that Company may sell, lease, transfer, license or otherwise dispose of any of the Collateral consisting of (i) the sale of inventory in the ordinary course of business, (ii) sales of worn-out or obsolete equipment in the ordinary course of business, and (iii) non-exclusive licenses and similar arrangements for the use of the property of Company in the ordinary course of business.
(c) Such Grantor shall not create or permit to exist any Lien upon or with respect to any of its property, except for Permitted Liens.
(d) Such Grantor shall (i) carry and maintain insurance at its expense of the types and in the amounts customarily carried by others engaged in substantially the same business as such person and operating in the same geographic area as such person, including, but not limited to, fire, property damage and worker's compensation, such insurance to be in such form as is carried with companies and in amounts satisfactory to Collateral Agent.
(e) Such Grantor will promptly notify the Collateral Agent in writing in the event of any material damage to the Collateral from any source whatsoever.
(f) Such Grantor will not (i) move its principal place of business or any other office listed in Schedule 1-A or (ii) adopt, use or conduct business under any trade name or other corporate or fictitious name not disclosed in Schedule 1-A, except, in each case, upon not less than 30 days prior written notice to the Collateral Agent and such Grantor's prior compliance with all applicable requirements of Section 4 hereof necessary to perfect the Collateral Agent's security interest hereunder.
(g) Such Grantor shall not establish any additional Deposit Account or securities account not listed on Schedule 1-B, except upon prior written notice to the Collateral Agent and such Grantor’s compliance with all applicable requirements of Section 4 hereof necessary to perfect the C...
Grantor’s Covenants. The Grantor covenants that it shall:
(a) from time to time and at all reasonable times allow the Bank, by or through any of its officers, agents, attorneys, or accountants, to examine or inspect the Collateral, and obtain valuations and audits of the Collateral, at the Grantor’s expense, wherever located. The Grantor shall do, obtain, make, execute and deliver all such additional and further acts, things, deeds, assurances and instruments as the Bank may require to vest in and assure to the Bank its rights hereunder and in or to the Collateral, and the proceeds thereof, including waivers from landlords, warehousemen and mortgagees. The Grantor agrees that the Bank has the right to notify (on invoices or otherwise) account debtors and other obligors or payors on any Collateral of its assignment to the Bank, and that all payments thereon should be made directly to the Bank, and that the Bank has full power and authority to collect, compromise, endorse, sell or otherwise deal with the Collateral in its own name or that of the Grantor at any time upon an Event of Default;
(b) keep the Collateral in good order and repair at all times and immediately notify the Bank of any event causing a material loss or decline in value of the Collateral, whether or not covered by insurance, and the amount of such loss or depreciation;
(c) only use or permit the Collateral to be used in accordance with all applicable federal, state, county and municipal laws and regulations; and
(d) have and maintain insurance at all times with respect to all Collateral against risks of fire (including so-called extended coverage), theft, sprinkler leakage, and other risks (including risk of flood if any Collateral is maintained at a location in a flood hazard zone) as the Bank may require, in such form, in such amount, for such period and written by such companies as may be satisfactory to the Bank in its sole discretion. Each such casualty insurance policy shall contain a standard Lender’s Loss Payable Clause issued in favor of the Bank under which all losses thereunder shall be paid to the Bank as the Bank’s interests may appear. Such policies shall expressly provide that the requisite insurance cannot be altered or canceled without at least thirty (30) days prior written notice to the Bank and shall insure the Bank notwithstanding the act or neglect of the Grantor. Upon the Bank’s demand, the Grantor shall furnish the Bank with duplicate original policies of insurance or such other evidenc...
Grantor’s Covenants. (A) Grantor covenants and agrees that during the term of this Easement Agreement it shall not plant within or allow to grow into the Easement Property any trees, bushes or other planted material that would interfere with the Grantee’s use of the Easement Property, and that it shall not construct any buildings or other improvements within, over or upon the Easement Property without the prior written permission of the Grantee.
(B) Grantor hereby warrants title to the easement herein granted and conveyed to the Grantee. Grantor warrants that the easement is free and clear of all liens and encumbrances. Grantor agrees to protect and defend the title of the Grantee from and against all persons whomsoever.
(C) Grantor warrants and guarantees that it has the power and authority to grant this Easement.
Grantor’s Covenants. The Grantor covenants with the Grantee so as to bind the Grantor's Property and each and every part of it into whoever's hands it may come, for the benefit of the Grantee, that the Grantor and its successors in title shall at all times observe and perform the Grantor's Covenants (but not as to bind the Grantor for any personal liability for any breach hereof which occurs after the Grantor has disposed of the Grantor’s Property).
Grantor’s Covenants. Grantor hereby covenants and agrees as follows: Grantor will strictly comply with all Environmental Laws, and, as soon as practicable, will notify Beneficiary of the presence of or any release of Hazardous Materials at, upon, under or within the Land, or of the receipt by Grantor of any notice from any Governmental Authority or from any tenant or other occupant or from any other person with respect to any alleged such release or presence, promptly upon discovery of such release or presence or receipt of such notice, and will send to Beneficiary copies of all results of environmental assessments and tests at the Land. Without limiting the generality of the foregoing, Grantor, as soon as practicable, will give to Beneficiary notice of the commencement of any litigation or threat of litigation relating to any alleged release of any Hazardous Materials at, upon, under or within the Land. Grantor, as soon as practicable, will deliver to Beneficiary any documentation or records Beneficiary may reasonably request and which are susceptible of being obtained by Grantor without undue cost or expense and without the necessity for initiating legal proceedings to obtain the same in connection with all such notices, inquiries, and communications, and shall endeavor to advise Beneficiary of any subsequent developments.
Grantor’s Covenants. The Grantor covenants and agrees that, unless the Bank otherwise consents in writing, the Grantor shall at all times:
Grantor’s Covenants. A. Grantor covenants and agrees that during the term of this Agreement that Grantee’s rights to the Easement Property shall be exclusive, except as expressly allowed herein. Grantor shall not plant within or allow to grow into the Easement Property any trees, bushes or other planted material that would interfere with the Grantee’s use of the Easement Property, and shall not construct any buildings or other improvements within, over or upon the Easement Property without the prior written permission of the Grantee, except that Grantor may install roadways, sidewalks, curbs, gutters, and trails on the Easement Property without written permission, provided Grantor shall be responsible for repairing or replacing any private improvements damaged by Grantee’s permitted activities in or on the Easement Property, including payment of the costs thereof.
B. To the fullest extent permitted by applicable law:
i. Grantor hereby warrants title to the easement herein granted and conveyed to Grantee;
ii. Grantor warrants that that the Easement Property is free and clear of all liens and encumbrances; and
iii. Grantor agrees to protect and defend the title of the Grantee to the Easement Property from and against all persons whomsoever.
C. Grantor warrants and guarantees that it has the power and authority to grant the easement created by this Agreement.
Grantor’s Covenants. During the term of this Security Agreement:
(a) Grantor shall defend the Collateral and the Security Interests conveyed to the Security Agent by this Security Agreement against all claims and demands of all persons (other than Permitted Security) at any time claiming any interest therein adverse to the Security Agent.
(b) Whether the Collateral is or is not in the Security Agent’s possession, and without any obligation to do so and without waiving Grantor’s default for failure to make any such payment, the Security Agent at its option may, following notice to Grantor when it may reasonably do so without prejudice, pay any such costs and expenses and discharge encumbrances on the Collateral, and any payments of such costs and expenses and any payments to discharge such encumbrances shall be a part of the Secured Obligations. Xxxxxxx agrees to reimburse the Security Agent on demand for any payments of such costs and expenses and any payments to discharge such encumbrances.
(c) Grantor shall take such other actions as the Security Agent shall reasonably determine is necessary or appropriate to preserve, protect, perfect and duly record the Security created under this Security Agreement in the Collateral, including Collateral credited to any Collateral Account, including, without limitation, executing, delivering, filing and/or recording, in such locations and jurisdictions as the Security Agent specify, any financing statement, notice, instrument, document, agreement or other papers that may be necessary to create, preserve, protect or perfect the Security Interest granted pursuant hereto and the priority thereof or to enable the Security Agent to exercise and enforce its rights under this Security Agreement with respect to such Security Interest, including, without limitation, executing and delivering or causing the execution and delivery of a control agreement with respect to the Collateral Accounts.
Grantor’s Covenants. Grantor covenants and agrees that during the term of this Easement Agreement it shall not plant within or allow to grow into the Easement Property any trees, bushes or other planted material that would interfere with the Grantee’s use of the Easement Property, and that it shall not construct any buildings or other improvements within, over or upon the Easement Property without the prior written permission of the Grantee.
Grantor’s Covenants. A. Grantor covenants and agrees that during the term of this Agreement it shall not plant within or allow to grow into the Easement Property any trees, bushes or other planted material that would interfere with the Grantee’s use of the Easement Property, and that it shall not construct any buildings or other improvements within, over or upon the Easement Property without the prior written permission of the Grantee, except that Grantor may install roadways, sidewalks, curbs, gutters, and trails on the Easement Property, without written permission, provided Grantor shall be responsible for repairing or replacing any private improvements damaged by Grantee’s permitted activities in or on the Easement Property, including payment of the costs thereof.
B. To the fullest extent permitted by applicable law:
i. Grantor hereby warrants title to the easement herein granted and conveyed to Grantee;
ii. Grantor warrants that that the Easement Property is free and clear of all liens and encumbrances; and
iii. Grantor agrees to protect and defend the title of the Grantee to the Easement Property from and against all persons whomsoever.
C. Grantor warrants and guarantees that it has the power and authority to grant the easement created by this Agreement.
