Common use of Maintenance of Assets Clause in Contracts

Maintenance of Assets. (a) Not to sell, assign, lease, transfer or otherwise dispose of any part of the Borrower’s business or the Borrower’s assets except in the ordinary course of the Borrower’s business. (b) Not to sell, assign, lease, transfer or otherwise dispose of any assets for less than fair market value, or enter into any agreement to do so. (c) Not to enter into any sale and leaseback agreement covering any of its fixed assets. (d) To maintain and preserve all rights, privileges, and franchises the Borrower now has. (e) To make any repairs, renewals, or replacements to keep the Borrower’s properties in good working condition.

Appears in 16 contracts

Samples: Loan Agreement (Technical Communications Corp), Loan Agreement (Schmitt Industries Inc), Loan Agreement (Annie's, Inc.)

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Maintenance of Assets. (a) Not to sell, assign, lease, transfer or otherwise dispose of any part of the Borrower’s 's business or the Borrower’s 's assets except in the ordinary course of the Borrower’s 's business. (b) Not to sell, assign, lease, transfer or otherwise dispose of any assets for less than fair market value, or enter into any agreement to do so. (c) Not to enter into any sale and leaseback agreement covering any of its fixed assets. (d) To maintain and preserve all rights, privileges, and franchises the Borrower now has. (e) To make any repairs, renewals, or replacements to keep the Borrower’s 's properties in good working condition.

Appears in 15 contracts

Samples: Loan Agreement (American Shared Hospital Services), Loan Agreement (Radiant Logistics, Inc), Loan Agreement (Saker Aviation Services, Inc.)

Maintenance of Assets. (a) Not to sell, assign, leasetease, transfer or otherwise dispose of any part of the Borrower’s business or the Borrower’s assets except in the ordinary course of the Borrower’s business., (b) Not to sell, assign, lease, transfer or otherwise dispose of any assets for less ICES than fair market value, or enter into any agreement to do so., (c) Not to enter into any sale and leaseback agreement covering any of its fixed assets., (d) To maintain and preserve all rights, privileges, and franchises the Borrower now has. (e) To make any repairs, renewals, or replacements to keep the Borrower’s properties in good working condition.

Appears in 4 contracts

Samples: Loan Agreement (Wayfair Inc.), Loan Agreement (Wayfair Inc.), Loan Agreement (Wayfair Inc.)

Maintenance of Assets. (a) Not to sell, assign, lease, transfer or otherwise dispose of any part of the Borrower’s 's business or the Borrower’s 's assets except inventory sold in the ordinary course of the Borrower’s 's business. (b) Not to sell, assign, lease, transfer or otherwise dispose of any assets for less than fair market value, or enter into any agreement to do so. (c) Not to enter into any sale and leaseback agreement covering any of its fixed assets. (d) To maintain and preserve all rights, privileges, and franchises the Borrower now has. (e) To make any repairs, renewals, or replacements to keep the Borrower’s 's properties in good working condition.

Appears in 4 contracts

Samples: Loan Agreement (Mechanical Technology Inc), Loan Agreement (Lifeloc Technologies, Inc), Loan Agreement (Tel Instrument Electronics Corp)

Maintenance of Assets. (a) Not to sell, assign, lease, transfer or otherwise dispose of any part of the Borrower’s 's business or the Borrower’s 's assets except inventory sold in the ordinary course of the Borrower’s 's business. (b) Not to sell, assign, lease, transfer or otherwise dispose of any assets for less than fair market value, or enter into any agreement to do so. (c) Not to enter into any sale and leaseback agreement covering any of its fixed assets. (d) To maintain and preserve all rights, privileges, and franchises the Borrower now has. (e) To make any repairs, renewals, or replacements to keep the Borrower’s 's properties in good working condition. (f) To execute and deliver such documents as the Bank deems necessary to create, perfect and continue the security interests contemplated by this Agreement.

Appears in 2 contracts

Samples: Loan Agreement (Solitron Devices Inc), Loan Agreement (HF Foods Group Inc.)

Maintenance of Assets. (a) Not to sell, assign, lease, transfer or otherwise dispose of any part of the Borrower’s 's business or the Borrower’s 's assets except in the ordinary course of the Borrower’s 's business. (b) Not to sell, assign, lease, transfer or otherwise dispose of any assets for less than fair market value, or enter into any agreement to do so. (c) Not to enter into any sale and leaseback agreement covering any of its fixed assets. (d) To maintain and preserve all rights, privileges, and franchises the Borrower now has. (e) To make any repairs, renewals, or replacements to keep the Borrower’s properties 's assets in good working condition.

Appears in 1 contract

Samples: Credit Agreement (Cash Systems Inc)

Maintenance of Assets. (a) Not to sell, assign, lease, transfer or otherwise dispose of any part of the Borrower’s 's business or the Borrower’s 's assets except in the ordinary course of the Borrower’s 's business. (b) Not to sell, assign, lease, transfer or otherwise dispose of any assets for less than fair market value, or enter into any agreement to do so. (c) Not to enter into any sale and leaseback agreement covering any of its fixed assets. (d) To maintain and preserve all rights, privileges, and franchises the Borrower now hashave. (e) To make any repairs, renewals, or replacements to keep the Borrower’s 's properties in good working condition.

Appears in 1 contract

Samples: Loan Agreement (California First National Bancorp)

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Maintenance of Assets. (a) Not to sell, assign, lease, transfer or otherwise dispose of any part of the Borrower’s business or the Borrower’s assets except in the ordinary course of the Borrower’s business. (b) Not to sell, assign, lease, transfer or otherwise dispose of any assets for less than fair market value, or enter into any agreement to do so. (c) Not to enter into any sale and leaseback agreement covering any of its fixed assets. (d) To maintain and preserve all rights, privileges, and franchises the Borrower now has. (e) To make any repairs, renewals, or replacements to keep the Borrower’s properties in good working condition.

Appears in 1 contract

Samples: Loan Agreement (Xeta Technologies Inc)

Maintenance of Assets. (a) Not to sell, assign, lease, transfer or otherwise dispose of any part of the any Borrower’s business or the any Borrower’s assets except in the ordinary course of the Borrower’s business. (b) Not to sell, assign, lease, transfer or otherwise dispose of any assets for less than fair market value, or enter into any agreement to do so. (c) Not to enter into any sale and leaseback agreement covering any of its fixed assets. (d) To maintain and preserve all material rights, privileges, and franchises the Borrower Borrowers now hashave. (e) To make any repairs, renewals, or replacements to keep the Borrower’s Borrowers’ properties in good working condition.

Appears in 1 contract

Samples: Loan Agreement (Radiant Logistics, Inc)

Maintenance of Assets. (a) Not to sell, assign, lease, transfer or otherwise dispose of any part of the any Borrower’s 's business or the any Borrower’s 's assets except in the ordinary course of the Borrower’s business. (b) Not to sell, assign, lease, transfer or otherwise dispose of any assets for less than fair market value, or enter into any agreement to do so. (c) Not to enter into any sale and leaseback agreement covering any of its fixed assets. (d) To maintain and preserve all rights, privileges, and franchises the Borrower Borrowers now hashave. (e) To make any repairs, renewals, or replacements to keep the Borrower’s Borrowers' properties in good working condition.

Appears in 1 contract

Samples: Loan Agreement (Air T Inc)

Maintenance of Assets. (a) Not to sell, assign, lease, transfer or otherwise dispose of any part of the any Borrower’s 's business or the any Borrower’s 's assets to an unaffiliated party except in the ordinary course of the Borrower’s business. (b) Not to sell, assign, lease, transfer or otherwise dispose of any assets for less than fair market value, or enter into any agreement to do so. (c) Not to enter into any sale and leaseback agreement covering any of its fixed assets. (d) To maintain and preserve all rights, privileges, and franchises the Borrower Borrowers now hashave. (e) To make any repairs, renewals, or replacements to keep the Borrower’s Borrowers' properties in good working condition.

Appears in 1 contract

Samples: Loan Agreement (California First National Bancorp)

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