Common use of Maintenance of Equipment Clause in Contracts

Maintenance of Equipment. Borrower shall keep and maintain the Equipment in good operating condition and repair (ordinary wear and tear excepted), and make all necessary replacements thereto so that the value and operating efficiency thereof shall at all times be maintained and preserved. Borrower shall not permit any item of Equipment to become a fixture to real estate or an accession to other property, and the Equipment is now and shall at all times remain personal property.

Appears in 7 contracts

Samples: Loan and Security Agreement (Bollinger Industries Inc), Loan and Security Agreement (Concurrent Computer Corp/De), Loan and Security Agreement (Mednet MPC Corp)

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Maintenance of Equipment. Borrower shall keep and maintain the Equipment in good operating condition and repair (ordinary wear and tear excepted), and shall make all necessary replacements thereto so that the value and operating efficiency thereof shall at all times be maintained and preserved. Borrower shall not permit any item of Equipment to become a fixture to real estate or an accession to other property, and the Equipment is now and shall at all times remain personal property.

Appears in 3 contracts

Samples: Loan and Security Agreement (Eip Microwave Inc), Loan and Security Agreement (International Food & Beverage Inc /De/), Loan and Security Agreement (Annies Homegrown Inc)

Maintenance of Equipment. Borrower shall keep and maintain the Equipment in good operating condition and repair (ordinary wear and tear excepted)repair, and make all necessary replacements thereto so that the value and operating efficiency thereof shall at all times be maintained and preserved. Borrower shall not permit any item of Equipment to become a fixture to real estate or an accession possession to other property, and the Equipment is now and shall at all times remain personal property.

Appears in 2 contracts

Samples: Loan and Security Agreement (Lee Pharmaceuticals), Loan and Security Agreement (Lee Pharmaceuticals)

Maintenance of Equipment. Such Borrower shall keep and maintain the Equipment in good operating condition and repair (ordinary wear and tear excepted), and shall make all necessary replacements thereto so that the value and operating efficiency thereof shall at all times be maintained and preserved. Such Borrower shall not permit any item of Equipment to become a fixture to real estate or an accession to other property, and the Equipment is now and shall at all times remain personal property.

Appears in 1 contract

Samples: Stock Pledge Agreement (Digital Recorders Inc)

Maintenance of Equipment. Borrower shall keep and maintain the Equipment in good operating condition and repair (ordinary wear and tear excepted)repair, and shall make all necessary replacements thereto so that the value and operating efficiency thereof shall at all times be maintained and preserved, normal wear and tear excepted. Borrower shall not permit any item of Equipment to become a fixture to real estate or an accession to other property, and the Equipment is now and shall at all times remain personal property.to

Appears in 1 contract

Samples: Consolidated And (Tristar Corp)

Maintenance of Equipment. Each Borrower shall keep and maintain the Equipment in good operating condition and repair (ordinary wear and tear excepted), and shall make all necessary replacements thereof and renewals thereto so that the value and operating efficiency thereof of the Equipment shall at all times be maintained and preserved, except to the extent that such Equipment is obsolete. No Borrower shall not permit any item of the Equipment to become a fixture Fixture to the real estate or an accession to other property, and the Equipment is now and shall at all times remain personal property.

Appears in 1 contract

Samples: Loan and Security Agreement (Rowecom Inc)

Maintenance of Equipment. Borrower shall keep and maintain Maintain the Equipment which is necessary or useful in the conduct of Borrower's business in good operating condition and repair (ordinary wear and tear excepted), and make all necessary replacements thereto so that the value and operating efficiency thereof shall at all times be maintained and preserved. Borrower Other than those items of Equipment that constitute fixtures on the Closing Date, Borrowers shall use their best efforts not to permit any item of Equipment to become a fixture to real estate or an accession to other property, and the such Equipment is now and shall at all times remain personal property.

Appears in 1 contract

Samples: Loan and Security Agreement (Ultimate Electronics Inc)

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Maintenance of Equipment. Except for the Abandoned Equipment, Borrower shall keep and maintain and shall cause Guarantor to keep and maintain the Equipment in good operating condition and repair (ordinary wear and tear excepted), and make all necessary replacements thereto so that the value and operating efficiency thereof shall at all times be maintained and preserved. Borrower shall not and shall cause Guarantor not to permit any item of Equipment to become a fixture to real estate or an accession to other property, and the Equipment is now and shall at all times remain personal property.

Appears in 1 contract

Samples: Loan and Security Agreement (National Standard Co)

Maintenance of Equipment. Borrower shall keep and maintain the Equipment in good operating condition and repair (ordinary wear and tear excepted), and shall make all necessary replacements thereto so that the value and operating efficiency thereof shall at all times be maintained and preserved. Borrower shall not permit any item of Equipment to become a fixture fxture to real estate or an accession to other property, and the Equipment is now and shall at all times remain personal property.

Appears in 1 contract

Samples: Loan and Security Agreement (Eip Microwave Inc)

Maintenance of Equipment. Borrower shall keep and maintain the Equipment in reasonably good operating condition and repair (ordinary wear and tear excepted), and make all reasonably necessary replacements thereto so that the value and operating efficiency thereof shall at all times be reasonably maintained and preserved. Borrower shall not permit any item of Equipment to become a fixture to real estate or an accession to other property, and the Equipment is now and shall at all times remain personal property.

Appears in 1 contract

Samples: Loan and Security Agreement (Telemundo Group Inc)

Maintenance of Equipment. Each Borrower shall keep and maintain the Equipment in good operating condition and repair (ordinary wear and tear excepted), and shall make all necessary replacements thereof and renewals thereto so that the value and operating efficiency thereof of the Equipment shall at all times be maintained and preserved. No Borrower shall not permit any item of the Equipment to become a fixture Fixture to real estate or an accession to other property, and the Equipment is now and shall at all times remain personal property.

Appears in 1 contract

Samples: Loan and Security Agreement (Vita Food Products Inc)

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