Inventory Warranties and Covenants. All of Borrowers' Inventory is of good and merchantable quality, free from any material defects. The completion, manufacture and sale of such Inventory is permitted under the applicable Borrower's contracts and other agreements to which the Inventory is subject. None of Borrowers' Inventory has been or will be produced in violation of the Fair Labor Standards Act and subject to the so-called "hot goods" provisions contained in 29 U.S.C. 215 or in violation of any other law. Borrowers will use their reasonable best efforts to cause all inventory and products owned by Persons other than Borrowers and located on any premises owned, leased or controlled by Borrowers, to be separately and conspicuously identified as such and to be segregated from Borrowers' own Inventory located at such premises.
Inventory Warranties and Covenants. Except as otherwise disclosed to Agent in writing, all of each Loan Party's Inventory is of good and merchantable quality, free from any defects that would reasonably be expected to have a Material Adverse Effect, such Inventory is not subject to any licensing, patent, trademark, trade name or copyright agreement with any Person that restricts such Loan Party's ability to manufacture and/or sell the Inventory. The completion and manufacturing process of such Inventory by a Person other than a Loan Party would be permitted under any contract to which a Loan Party is a party or to which the Inventory is subject. None of any Loan Party's Inventory has been or will be produced in violation of the Fair Labor Standards Act and subject to the so-called "hot goods" provisions contained in Title 29 U.S.C. 215 or in violation of any other law. All inventory and products owned by Persons other than a Loan Party and located on any premises owned, leased or controlled by a Loan Party, shall be separately and conspicuously identified as such and shall be segregated from such Loan Party's own Inventory located at such premises.
Inventory Warranties and Covenants. Except as otherwise disclosed to the Collateral Agent in writing from time to time, all of Grantors’ Inventory that constitutes Collateral, if any, is in all material respects of quality and quantity usable and, with respect to finished goods, saleable in the ordinary course of business, such Inventory that constitutes Collateral, is not subject to any licensing, patent, trademark, trade name or copyright agreement with any Person that materially restricts Grantors’ ability to manufacture and/or sell the Inventory. The completion and manufacturing process of such Inventory by a Person other than Grantor would be permitted under any contract (other than any contract with the United States of America or any State or municipal government or any department, instrumentality or agency thereof) to which a Grantor is a party or to which the Inventory is subject. None of Grantor’s Inventory has been or will be produced in violation of the Fair Labor Standards Act and subject to the so-called “hot goods” provisions contained in Title 29 U.S.C. 215 or in violation of any other law. All inventory and products owned by Persons other than a Grantor or such Grantor’s customers and located on any premises owned, leased or controlled by Grantor, shall be separately and conspicuously identified as such and shall be segregated from such Grantor’s or its customers’ own Inventory that constitutes Collateral, located at such premises.
Inventory Warranties and Covenants. 32 SECTION 5.
Inventory Warranties and Covenants. Borrowers hereby represent and ---------------------------------- warrant that no Inventory included in the Borrowing Base at any time shall be subject to any title retention arrangement or similar arrangement by any seller or vendor of such Inventory.
Inventory Warranties and Covenants. Except as otherwise disclosed to Agent in writing, all of each Loan Party’s Inventory is of good and merchantable quality, free from any defects, such Inventory is not subject to any licensing, patent, trademark, trade name or copyright agreement with any Person that restricts such Loan Party’s ability to manufacture and/or sell the Inventory. The completion and manufacturing process of such Inventory by a Person other than a Loan Party would be permitted under any contract to which a Loan Party is a party or to which the Inventory is subject. None of any Loan party’s Inventory has been or will be produced in violation of the Fair Labor Standards Act and subject to the so-called “hot goods” provisions contained in Title 29 U.S.C. Section 215 or in violation of any other law. All inventory and products owned by Persons other than Loan Parties and located on any premises owned, leased or controlled by a Loan Party, shall be separately and conspicuously identified as such and shall be segregated from Loan Parties’ own Inventory located at such premises. In the event Inventory of Loan Party valued at more than $500,000 is located on the premises of a consignee, the applicable Loan Party shall perfect a security interest in such Inventory and, at the request of Agent, shall assign of record such security interest to Agent pursuant to documentation in form and substance satisfactory to Agent. In the event Inventory of Loan Party valued at more than $250,000 is located on the premises of a bailee, the applicable Loan Party shall use reasonable efforts to obtain and deliver to Agent a bailee waiver in form and substance satisfactory to Agent.
Inventory Warranties and Covenants. All of the Grantor’s material Inventory is of good and merchantable quality, free from any material defects, and such Inventory is not subject to any licensing, patent, trademark, trade name or copyright agreement with any Person that restricts the Grantor’s ability to manufacture and/or sell such Inventory. None of the Grantor’s Inventory has been or will be produced in violation of the Fair Labor Standards Act and subject to the so-called “hot goods” provisions contained in Title 29 U.S.C. 215 or in violation of any other law. All inventory and products owned by Persons other than the Grantor and located on any premises owned, leased or controlled by the Grantor, shall be separately and conspicuously identified as such and shall be segregated from the Grantor’s own Inventory located at such premises. The Grantor shall not permit any Inventory to be kept at a location other than those listed on Schedule 4(b), except for (i) Inventory in transit; (ii) Inventory in the possession of employees in the ordinary course of business; and (iii) Inventory which, together with any other Collateral at such location, has a fair market value that does not exceed $100,000 in the aggregate.
Inventory Warranties and Covenants. Except as otherwise disclosed to Agent in writing, all of each Loan Party's Inventory is of good and merchantable quality, free from any defects, such Inventory is not subject to any licensing, patent, trademark, trade name or copyright agreement with any Person that restricts such Loan Party's ability to manufacture and/or sell the Inventory. The completion and manufacturing process of such Inventory by a Person other than a Loan Party would be permitted under any contract to which a Loan Party is a party or to which the Inventory is subject. None of any Loan party's Inventory has been or will be produced in violation of the Fair Labor Standards Act and subject to the so-called "hot goods" provisions contained in Title 29 U.S.
Inventory Warranties and Covenants. (i) Except as otherwise disclosed to Agent in writing, all of the Restricted Loan Parties’ Inventory that is included in the determination of the Collateral Formula Amount at any time is of good and merchantable quality, free from any material defects. All such Inventory shall at all such times be segregated from the inventory and goods of Persons who are not Restricted Loan Parties and shall be separately and conspicuously identified as Inventory of the Restricted Loan Parties.
(ii) In the event that any Inventory with a value in excess of $1,000,000 in the aggregate becomes the subject of a negotiable or nonnegotiable warehouse receipt, said warehouse receipt shall be promptly delivered by the applicable Restricted Loan Party to Agent with such endorsements and assignments as are reasonably necessary or desirable to vest title and possession in the Agent. Provided that an Event of Default does not then exist and would not be created thereby, Agent shall return such warehouse receipts to the applicable Borrower within two (2) Business Days of the applicable Restricted Loan Party’s request therefor, but only for purposes of negotiation, delivery or exchange in the ordinary course of the Restricted Loan Parties’ business.
Inventory Warranties and Covenants. Except as otherwise disclosed to Agent in writing, all of Borrower’s Inventory is of good and merchantable quality, free from any material defects, and such Inventory is not subject to any License Agreement with any Person that restricts Borrower’s ability to manufacture and/or sell the Inventory, unless Agent is a party to a Licensor/Agent Agreement with the Licensor under such License Agreement. The completion and manufacturing process of such Inventory by a Person other than Borrower would be permitted under any contract to which Borrower is a party or to which the Inventory is subject. None of Borrower’s Inventory has been or will be produced in violation of the Fair Labor Standards Act and subject to the so-called “hot goods” provisions contained in Title 29 U.S.C. 215 or in violation of any other law. All inventory and products owned by Persons other than Borrower and located on any premises owned, leased or controlled by Borrower, shall be separately and conspicuously identified as such and shall be segregated from Borrower’s own Inventory located at such premises.
