Common use of Maintenance and Inspection Clause in Contracts

Maintenance and Inspection. Grantor shall maintain all tangible Collateral in good condition and repair. Grantor will not commit or permit damage to or destruction of the Collateral or any part of the Collateral. Lender and its designated representatives and agents shall have the right at all reasonable times to examine, inspect, and audit the Collateral wherever located. Grantor shall immediately notify Lender of all cases involving the return, rejection, repossession, loss, or damage of or to any Collateral; of any request for credit or adjustment or of any other dispute arising with respect to the Collateral; and generally of all happenings and events affecting the Collateral or the value or the amount of the Collateral.

Appears in 7 contracts

Samples: Security Agreement (Vista Proppants & Logistics Inc.), Security Agreement (Vista Proppants & Logistics Inc.), Security Agreement (Vista Proppants & Logistics Inc.)

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