Common use of MAINTENANCE OF PROPERTIES; INSURANCE; BOOKS AND RECORDS; COMPLIANCE WITH LAW Clause in Contracts

MAINTENANCE OF PROPERTIES; INSURANCE; BOOKS AND RECORDS; COMPLIANCE WITH LAW. (1) The Company and each of its Subsidiaries shall maintain insurance in such amounts and covering such risks as are usually and customarily carried with respect to similar facilities according to their respective locations. (2) The Company and each of its Subsidiaries shall cause all its properties (including leased properties) used or useful in the conduct of its business to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this subsection (2) shall prevent the Company or any Subsidiary from discontinuing the operation and maintenance of any of its properties if such discontinuance is, in the good faith judgment of the Board of Directors of the Company, desirable in the conduct of its business and not disadvantageous in any material respect to the Debentureholders. (3) The Company and each of its Subsidiaries shall keep proper books of record and account, in which full and correct entries shall be made of all financial transactions and the assets and business of the Company and each Subsidiary, in accordance with GAAP consistently applied to the Company and its Subsidiary taken as a whole. (4) The Company and each of its Subsidiaries shall comply with all statutes, laws, ordinances, or government rules and regulations, including rules, regulations and orders of governmental agencies, decrees, orders, injunctions, writs to which it is subject, noncompliance with which would adversely affect the business, prospects, earnings, properties, assets or condition (financial or otherwise) of the Company and its Subsidiary taken as a whole.

Appears in 2 contracts

Samples: Indenture (United Homes Inc), Indenture (United Homes Inc)

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MAINTENANCE OF PROPERTIES; INSURANCE; BOOKS AND RECORDS; COMPLIANCE WITH LAW. (1) The Company shall and each of the Company shall cause its Subsidiaries shall to maintain insurance in such amounts and covering such risks as are usually and customarily carried with respect to similar facilities according to their respective locationslocations if the failure to maintain such insurance would have a material adverse effect on the Company and its Subsidiaries taken as a whole. (2) The Company shall and each of the Company shall cause its Subsidiaries shall to cause all its properties (including leased properties) used or useful in the conduct of its business to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this subsection Subsection (2) shall prevent the Company or any Subsidiary from discontinuing the operation and maintenance of any of its properties if such discontinuance is, in the good faith judgment of the Board of Directors of the Company, desirable in the conduct of its business and not disadvantageous in any material respect to the DebentureholdersNoteholders. (3) The Company shall and each of the Company shall cause its Subsidiaries shall to use its best efforts to keep proper books of record and account, in which full and correct entries shall be made of all financial transactions and the assets and business of the Company and each Subsidiary, in accordance with GAAP consistently applied to the Company and its Subsidiary taken as a whole. (4) The Company shall and each of the Company shall cause its Subsidiaries shall to comply with all material statutes, laws, ordinances, or government rules and regulations, including rules, regulations and orders of governmental agencies, decrees, orders, injunctions, writs to which it is subject, noncompliance with which would materially and adversely affect the business, -65- Indenture prospects, earnings, properties, assets or condition (financial or otherwise) of the Company and its Subsidiary taken as a whole.

Appears in 2 contracts

Samples: Indenture (PDS Financial Corp), Indenture (PDS Gaming Corp)

MAINTENANCE OF PROPERTIES; INSURANCE; BOOKS AND RECORDS; COMPLIANCE WITH LAW. (1) The Company and each of its Subsidiaries shall maintain insurance in such amounts and covering such risks as are usually and customarily carried with respect to similar facilities according to their respective locations. (2) The Company and each of its Subsidiaries shall cause all its properties (including leased properties) used or useful in the conduct of its business to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this subsection (2) shall prevent the Company or any Subsidiary from discontinuing the operation and maintenance of any of its properties if such discontinuance is, in the good faith judgment of the Board of Directors of the Company, desirable in the conduct of its business and not disadvantageous in any material respect to the Debentureholders. (3) The Company and each of its Subsidiaries shall keep proper books of record and account, in which full and correct entries shall be made of all financial transactions and the assets and business of the Company and each Subsidiary, in accordance with GAAP consistently applied to the Company and its Subsidiary taken as a whole. (4) The Company and each of its Subsidiaries shall comply with all statutes, laws, ordinances, or government rules and regulations, including rules, regulations and orders of governmental agencies, decrees, orders, injunctions, writs to which it is subject, noncompliance with which would materially adversely affect the business, prospects, earnings, properties, assets or condition (financial or otherwise) of the Company and its Subsidiary taken as a whole. (5) The Company will take all appropriate steps to preserve, protect and maintain the trademarks, trade names, copyrights, licenses and permits used in the conduct of the business of the Company and its Subsidiaries; provided, however, that nothing in this Subsection shall prevent the Company or a Subsidiary from selling, abandoning, or otherwise disposing of any such trademark, trade name, copyright, license or permit if such sale, abandonment or disposition is, in the judgment of the Company, desirable in the conduct of its business and not disadvantageous in any material respect to the Debentureholders.

Appears in 1 contract

Samples: Indenture (Paper Warehouse Inc)

MAINTENANCE OF PROPERTIES; INSURANCE; BOOKS AND RECORDS; COMPLIANCE WITH LAW. (1a) The Company shall, and shall cause each of its Restricted Subsidiaries shall maintain insurance in such amounts and covering such risks as are usually and customarily carried with respect to similar facilities according to their respective locations. (2) The Company and each of its Subsidiaries shall to, at all times cause all its properties (including leased properties) used or useful in the conduct of its their business to be maintained and kept in good condition, repair and working order (reasonable wear and tear excepted) and supplied with all necessary equipment equipment, and will shall cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in connection 65 -56- therewith may be properly and advantageously conducted at all timesconducted; provided, however, that nothing in this subsection (2) paragraph shall prevent the Company or any Restricted Subsidiary from discontinuing the operation and maintenance of any of its their respective properties if such discontinuance is, in the good faith judgment of the Board of Directors of the CompanyCompany or such Restricted Subsidiary, desirable in the conduct of its business and not disadvantageous in any material respect to the DebentureholdersHolders. (3b) The Company shall, and shall cause each of its Restricted Subsidiaries to, maintain insurance in such amounts and covering such risks as are usually and customarily carried with respect to similar facilities according to their respective locations. (c) The Company shall, and shall cause each of its Subsidiaries shall to, keep proper books of record and account, in which full and correct entries shall be made of all financial transactions and the assets and business of the Company and each SubsidiarySubsidiary of the Company, in accordance with GAAP consistently applied to the Company and its Subsidiary Subsidiaries taken as a whole. (4d) The Company shall, and shall cause each of its Subsidiaries shall to, comply with all statutes, laws, ordinances, ordinances or government rules and regulations, including rules, regulations and orders of governmental agencies, decrees, orders, injunctions, writs to which it is they are subject, noncompliance the non-compliance with which would materially adversely affect the business, prospects, earnings, properties, assets or financial condition (financial or otherwise) of the Company and its Subsidiary Subsidiaries taken as a whole.

Appears in 1 contract

Samples: Indenture (Cityscape Corp)

MAINTENANCE OF PROPERTIES; INSURANCE; BOOKS AND RECORDS; COMPLIANCE WITH LAW. (1a) The Company shall, and shall cause each of its Subsidiaries shall maintain insurance in such amounts and covering such risks as are usually and customarily carried with respect to similar facilities according to their respective locations. (2) The Company and each of its Subsidiaries shall to, at all times cause all its properties (including leased properties) used or useful in the conduct of its business to be maintained and kept in good condition, repair and working order (reasonable wear and tear excepted) and supplied with all necessary equipment equipment, and will shall cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all timesthereto; provided, however, provided that nothing in this subsection (2) Section 4.5 shall prevent the Company or any Subsidiary from discontinuing the operation and or maintenance of any of its properties such properties, or disposing of any of them, if such discontinuance is, discontinu- ance or disposal is (i) in the ordinary course of business, (ii) in the reasonable and good faith judgment of the Board of Directors of the CompanyCompany or the Subsidiary concerned, as the case may be, desirable in the conduct of its the business and not disadvantageous in any material respect to of the DebentureholdersCompany or such Subsidiary, as the case may be, or (iii) otherwise permitted by this Indenture. (3b) The Company shall, and shall cause each of its Subsidiaries to maintain with financially sound and reputable insurers such insurance (including appropriate self insurance) as may be required by law and such other insurance, to such extent and against such hazards and liabilities consistent with practice on the Issue Date, as the Company in its reasonable and good faith judgment determines is required, taking into account its business and financial condition. (c) The Company shall, and shall cause each of its Subsidiaries to, keep proper books of record and account, in which full and correct entries shall be made of all business and financial transactions and the assets and business of the Company and each SubsidiarySubsidiary of the Company and reflect on its financial statements adequate accruals and appropriations to reserves, all in accordance with GAAP generally accepted accounting principles consistently applied to the Company and its Subsidiary Subsidiaries taken as a whole. (4d) The Company shall and shall cause each of its Subsidiaries shall to comply with all statutes, laws, ordinances, or government rules and regulations, including rules, regulations and orders of governmental agencies, decrees, orders, injunctions, writs to which it is subject, noncompliance non-compliance with which would materially adversely affect the business, prospects, earnings, properties, assets or financial condition (financial or otherwise) of the Company and its Subsidiary Subsidiaries taken as a whole.

Appears in 1 contract

Samples: Indenture (Navistar International Corp /De/New)

MAINTENANCE OF PROPERTIES; INSURANCE; BOOKS AND RECORDS; COMPLIANCE WITH LAW. (1a) The Company shall, and shall cause each of its Subsidiaries to, at all times cause all material properties used or useful in the conduct of their business to be maintained and kept in good condition, repair and working order (reasonable wear and tear excepted) and supplied with all equipment deemed necessary in the good faith judgment of the Officers of the Company, and shall cause to be made all repairs, renewals, replacements, betterments and improvements thereto; provided, however, that the Issuers or any of their Subsidiaries shall not be required to maintain, repair, renew, replace, better or improve any such equipment if the Board of Directors of the Company shall reasonably and in good faith determine that the maintenance thereof is no longer desirable in the conduct of the business of the Issuers or such Subsidiaries and the loss thereof is not adverse in any material respect to the Holders. (b) The Company and each of its Subsidiaries shall maintain insurance in such amounts and covering such risks as are usually and customarily carried with respect to similar facilities according to their respective locations. (2c) The Company Issuers shall and shall cause each of its their Subsidiaries shall cause all its properties (including leased properties) used or useful in the conduct of its business to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this subsection (2) shall prevent the Company or any Subsidiary from discontinuing the operation and maintenance of any of its properties if such discontinuance is, in the good faith judgment of the Board of Directors of the Company, desirable in the conduct of its business and not disadvantageous in any material respect to the Debentureholders. (3) The Company and each of its Subsidiaries shall keep proper books of record and account, in which full and correct entries shall be made of all financial transactions and the assets and business of the Company Issuers and each SubsidiarySubsidiary of the Issuers, in accordance with GAAP consistently applied to the Company Issuers and its Subsidiary their Subsidiaries taken as a whole. (4d) The Company Issuers shall and shall cause each of its their Subsidiaries shall to comply with all statutes, laws, ordinances, or government rules and regulations, including rules, regulations and orders of governmental agencies, decrees, orders, injunctions, writs to which it is they are subject, noncompliance non-compliance with which would materially adversely affect the business, prospects, earnings, properties, assets or condition (financial or otherwise) of the Company Issuers and its Subsidiary their Subsidiaries taken as a whole.

Appears in 1 contract

Samples: Indenture (Aoa Capital Corp)

MAINTENANCE OF PROPERTIES; INSURANCE; BOOKS AND RECORDS; COMPLIANCE WITH LAW. (1a) The Company shall, and shall cause each of its Subsidiaries to, at all times cause all material properties used or useful in the conduct of its business to be maintained and kept in good condition, repair and working order (reasonable wear and tear excepted) and supplied with all equipment deemed necessary in the good faith judgment of the Officers of the Company, and shall cause to be made all repairs, renewals, replacements, betterments and improvements thereto; PROVIDED, HOWEVER, that the Company or any of its Subsidiaries shall not be required to maintain, repair, renew, replace, better or improve any such equipment if the Board of Directors of the Company shall reasonably and in good faith determine that the maintenance thereof is no longer desirable in the conduct of the business of the Company or such Subsidiaries and the loss thereof is not adverse in any material respect to the Holders. (b) The Company and each of its Subsidiaries shall maintain insurance in such amounts and covering such risks as are usually and customarily carried with respect to similar facilities according to their respective locations. (2c) The Company shall and shall cause each of its Subsidiaries shall cause all its properties (including leased properties) used or useful in the conduct of its business to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this subsection (2) shall prevent the Company or any Subsidiary from discontinuing the operation and maintenance of any of its properties if such discontinuance is, in the good faith judgment of the Board of Directors of the Company, desirable in the conduct of its business and not disadvantageous in any material respect to the Debentureholders. (3) The Company and each of its Subsidiaries shall keep proper books of record and account, in which full and correct entries shall be made of all financial transactions and the assets and business of the Company and each SubsidiarySubsidiary of the Company, in accordance with GAAP consistently applied to the Company and its Subsidiary Subsidiaries taken as a whole. (4d) The Company shall and shall cause each of its Subsidiaries shall to comply with all statutes, laws, ordinances, or government rules and regulations, including rules, regulations and orders of governmental agencies, decrees, orders, injunctions, writs to which it is they are subject, noncompliance non-compliance with which would materially adversely affect the business, prospects, earnings, properties, assets or condition (financial or otherwise) of the Company and its Subsidiary Subsidiaries taken as a whole.

Appears in 1 contract

Samples: Indenture (Affinity Group Holding Inc)

MAINTENANCE OF PROPERTIES; INSURANCE; BOOKS AND RECORDS; COMPLIANCE WITH LAW. (1a) The Company Issuer shall, and shall cause each of the Restricted Subsidiaries to, at all times cause all properties used or useful in the conduct of their business to be maintained and kept in good condition, repair and working order (reasonable wear and tear excepted) and supplied with all necessary equipment, and shall cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereto; provided, however, that nothing in this Section 4.23 shall prevent the Issuer or any of the Restricted Subsidiaries from discontinuing the maintenance of any such properties if such discontinuance is, in the judgment of the Board of Directors of the Issuer or the Board of Directors of such Restricted Subsidiary, desirable in the conduct of its business and is not disadvantageous in any material respect to the Holders. (b) The Issuer shall, and shall cause each of the Restricted Subsidiaries shall to, maintain insurance (which may include self-insurance) in such amounts and covering such risks as are usually and customarily carried with respect to similar facilities according to their respective locations. (2c) The Company Issuer shall, and shall cause each of its Subsidiaries shall cause all its properties (including leased properties) used or useful in the conduct of its business to be maintained and kept in good conditionto, repair and working order and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this subsection (2) shall prevent the Company or any Subsidiary from discontinuing the operation and maintenance of any of its properties if such discontinuance is, in the good faith judgment of the Board of Directors of the Company, desirable in the conduct of its business and not disadvantageous in any material respect to the Debentureholders. (3) The Company and each of its Subsidiaries shall keep proper books of record and account, in which full and correct entries shall be made of all financial transactions and the assets and business of the Company Issuer and each SubsidiarySubsidiary of the Issuer, in accordance with GAAP consistently applied to the Company Issuer and its Subsidiary Subsidiaries taken as a whole. (4d) The Company Issuer shall and shall cause each of its Subsidiaries shall to comply with all statutes, laws, ordinances, ordinances or government rules and regulations, including rules, regulations and orders of governmental agencies, decrees, orders, injunctions, writs to which it is they are subject, noncompliance non-compliance with which would materially adversely affect the business, prospects, earnings, properties, assets or financial condition (financial or otherwise) of the Company Issuer and its Subsidiary Subsidiaries taken as a whole.

Appears in 1 contract

Samples: Indenture (Canwest Media Inc)

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MAINTENANCE OF PROPERTIES; INSURANCE; BOOKS AND RECORDS; COMPLIANCE WITH LAW. (1a) The Company and each of its Subsidiaries shall maintain insurance in such amounts and covering such risks as are usually and customarily carried with respect to similar facilities according to their respective locations. (2) The Company and each of its Subsidiaries shall at all times cause all its properties (including leased properties) used or useful in the conduct of its business or the business of any of its Subsidiaries to be maintained and kept in good condition, repair and working order (reasonable wear and tear excepted) and supplied with all necessary equipment equipment, and will shall cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all timesthereto; provided, however, that nothing in this subsection (2) Section 4.5 shall prevent the Company or any such Subsidiary from discontinuing the use, operation and or maintenance of any of its such properties or disposing of any of them, if such discontinuance or disposal is, in the good faith judgment of the Board of Directors or the board of directors of the CompanySubsidiary having managerial responsibility for any such property, desirable in the conduct of its the business and not disadvantageous in any material respect to of the DebentureholdersCompany or such Subsidiary, as the case may be. (3b) The Company shall maintain or cause to be maintained, for itself and each of its Subsidiaries, insurance (which may include self-insurance) in such amounts and covering such risks as are usually and customarily carried by corporations similarly situated with respect to similar facilities according to their respective locations, except where the failure to do so could not reasonably be expected, in the good faith judgment of the Board of Directors, to have a material adverse effect on the condition (financial or otherwise), earnings, business affairs or prospects of the Company and its Subsidiaries, taken as a whole. (c) The Company shall, and shall cause each of its Subsidiaries shall to, keep proper books of record and account, account in which full and correct entries shall be made of all financial transactions and the assets and business of the Company and each SubsidiarySubsidiary of the Company, in accordance with GAAP consistently applied to the Company and its Subsidiary Subsidiaries, taken as a whole. (4d) The Company shall, and shall cause each of its Subsidiaries shall to, comply with all statutes, laws, ordinances, or government rules and regulations, including rules, regulations and orders of governmental agencies, decrees, orders, injunctions, writs to which it is subject, noncompliance non-compliance with which would materially adversely affect the business, prospects, earnings, properties, assets or financial condition (financial or otherwise) of the Company and its Subsidiary Subsidiaries, taken as a whole.

Appears in 1 contract

Samples: Indenture (Renaissance Cosmetics Inc /De/)

MAINTENANCE OF PROPERTIES; INSURANCE; BOOKS AND RECORDS; COMPLIANCE WITH LAW. (1) The Company and each of its Subsidiaries shall maintain insurance in such amounts and covering such risks as are usually and customarily carried with respect to similar facilities according to their respective locations. (2) The Company and each of its Subsidiaries shall cause all its properties (including leased properties) used or useful in the conduct of its business to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this subsection (2) shall prevent the Company or any Subsidiary from discontinuing the operation and maintenance of any of its properties if such discontinuance is, in the good faith judgment of the Board of Directors of the Company, desirable in the conduct of its business and not disadvantageous in any material respect to the Debentureholders. (3) The Company and each of its Subsidiaries shall keep proper books of record and account, in which full and correct entries shall be made of all financial transactions and the assets and business of the Company and each Subsidiary, in accordance with GAAP consistently applied to the Company and its Subsidiary taken as a whole. (4) The Company and each of its Subsidiaries shall comply with all statutes, laws, ordinances, or government rules and regulations, including rules, regulations and orders of governmental agencies, decrees, orders, injunctions, writs to which it is subject, noncompliance with which would adversely affect the business, prospects, earnings, properties, assets or condition (financial or otherwise) of the Company and its Subsidiary taken as a whole.

Appears in 1 contract

Samples: Indenture (Taylor Investment Corp /Mn/)

MAINTENANCE OF PROPERTIES; INSURANCE; BOOKS AND RECORDS; COMPLIANCE WITH LAW. (1a) The Subject to, and in compliance with, the provisions of Sections 10.3 and 10.4 and to the provisions of the applicable Security Documents, the Company shall, and shall cause each of its Subsidiaries shall maintain insurance in such amounts and covering such risks as are usually and customarily carried with respect to similar facilities according to their respective locations. (2) The Company and each of its Subsidiaries shall to, at all times cause all its material properties (including leased properties) used or useful in the conduct of its business to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment equipment, and will shall cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this subsection (2) shall prevent the Company or any Subsidiary from discontinuing the operation and maintenance of any of its properties if such discontinuance is, in the good faith judgment of the Board of Directors of the Company, desirable in the conduct of its business and not disadvantageous in any material respect to the Debentureholdersthereto. (3b) The Company shall provide or cause to be provided, for itself and each of its Subsidiaries, insurance against loss or damage of the kinds that are adequate and appropriate for the conduct of the business of the Company and such Subsidiaries in a prudent manner, with reputable insurers or with the government of the United States of America or an agency or instrumentality thereof, in such amounts, with such deductibles, and by such methods as shall be customary for companies similarly situated in the industry. (c) The Company shall keep and shall cause each of its Subsidiaries to keep, proper books of record and account, in which full and correct entries shall be made of all financial transactions which should be recorded therein and the assets and business of the Company and each SubsidiarySubsidiary of the Company, in accordance with GAAP consistently applied to the Company and its Subsidiary Subsidiaries taken as a whole. (4d) The Company shall comply, and shall cause each of its Subsidiaries shall to comply with all statutes, laws, ordinances, or government rules and rules, regulations, including rulesorders and restrictions of the United States of America, regulations all states and orders municipalities thereof, and of any governmental agenciesdepartment, decreescommission, ordersboard, injunctionsregulatory authority, writs bureau, agency and instrumentality of the foregoing to which it is subject, noncompliance non-compliance with which would materially adversely affect the business, prospects, earnings, properties, assets or condition (financial or otherwise) of the Company and its Subsidiary Subsidiaries taken as a whole.

Appears in 1 contract

Samples: Indenture (Toms Foods Inc)

MAINTENANCE OF PROPERTIES; INSURANCE; BOOKS AND RECORDS; COMPLIANCE WITH LAW. (1a) Subject to, and in compliance with, the provisions of Sections 11.3 and 11.4 and to the provisions of each applicable Security Document, the Company shall, and shall cause each of its Restricted Subsidiaries to, at all times cause all properties used or useful in the conduct of its business to be maintained and kept in good condition, repair and working order (reasonable wear and tear and casualty excepted) and supplied with all necessary equipment, and shall cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereto. (b) The Company and each of its Restricted Subsidiaries shall maintain insurance subject to the provisions of each applicable Security Document in such amounts and covering such risks as are usually and customarily carried with respect to similar facilities according to their respective locations. (2c) The Company shall and shall cause each of its Restricted Subsidiaries shall cause all its properties (including leased properties) used or useful in the conduct of its business to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this subsection (2) shall prevent the Company or any Subsidiary from discontinuing the operation and maintenance of any of its properties if such discontinuance is, in the good faith judgment of the Board of Directors of the Company, desirable in the conduct of its business and not disadvantageous in any material respect to the Debentureholders. (3) The Company and each of its Subsidiaries shall keep proper books of record and account, in which full and correct entries shall be made of all financial transactions and the assets and business of the Company and each SubsidiaryRestricted Subsidiary of the Company, in accordance with GAAP consistently applied to the Company and its Subsidiary taken as a wholeGAAP. (4d) The Company shall and shall cause each of its Restricted Subsidiaries shall to comply with all statutes, laws, ordinances, or government rules and regulations, including rules, regulations and orders of governmental agencies, decrees, orders, injunctions, writs to which it is subject, noncompliance non-compliance with which would materially adversely affect the business, prospects, earnings, properties, assets or condition (financial or otherwise) of the Company and its Subsidiary Restricted Subsidiaries, taken as a whole.

Appears in 1 contract

Samples: Indenture (Rti Capital Corp)

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