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. (a) Subject to the applicable provisions of the Security Documents, the Company shall, and shall cause each Subsidiary to, at all times cause all properties used or useful in the conduct of its business to be maintained and kept in good working order and condition, ordinary wear and tear excepted, and shall cause to be made all necessary (in the good faith opinion of management) repairs, renewals, replacements, additions, betterments and improvements thereto. (b) The Company shall and shall cause each Subsidiary to maintain insurance with insurance companies or associations with a rating of "A" or better, as established by Best's Rating Guide (or an equivalent rating with such other publication of a similar nature as shall be in current use), subject to the provisions of the applicable Security Documents, 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 Subsidiary 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 Subsidiaries taken as a whole. (d) Except as otherwise provided in the Security Documents, the Company shall and shall cause each Subsidiary to comply with all statutes, laws, ordinances, or government rules and regulations to which it is subject, non-compliance with which would adversely affect the business, prospects, earnings, properties, assets or condition (financial or otherwise) of the Company and its Subsidiaries taken as a whole.

Appears in 1 contract

Samples: Indenture (Ameristeel Corp)

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MAINTENANCE OF PROPERTIES; INSURANCE; BOOKS AND RECORDS; COMPLIANCE WITH LAW. (a) Subject to the applicable provisions of the Security Documents, the Company shall, and shall cause each Subsidiary to, at all times cause all properties used or useful in the conduct of its business to be maintained and kept in good working order and condition, ordinary wear and tear excepted, and shall cause to be made all necessary (in the good faith opinion of management) repairs, renewals, replacements, additions, betterments and improvements thereto. (b) The Except as provided in the Mortgage with respect to the Collateral, the Company shall and shall cause each Subsidiary to maintain insurance with insurance companies or associations with a rating of "A" or better, as established by Best's Rating Guide (or an equivalent rating with such other publication of a similar nature as shall be in current use), subject to the provisions of the applicable Security Documents, 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 Subsidiary 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 Subsidiaries taken as a whole.. Draft - January 14, 2004 Exhibit C (d) Except as otherwise provided in the Security Documents, the The Company shall and shall cause each Recourse Subsidiary to comply with all statutes, laws, ordinances, or government rules and regulations to which it is subject, non-compliance with which would materially and adversely affect the business, prospects, earnings, properties, assets or condition (financial or otherwise) of the Company and its Subsidiaries taken as a whole.

Appears in 1 contract

Samples: Indenture (Bayou Steel Corp)

MAINTENANCE OF PROPERTIES; INSURANCE; BOOKS AND RECORDS; COMPLIANCE WITH LAW. (a) Subject to the applicable provisions of the Security Documents, the Company shall, and shall cause each Subsidiary to, at all times cause all properties used or useful in the conduct of its business to be maintained and kept in good working order and condition, ordinary wear and tear excepted, and shall cause to be made all necessary (in the good faith opinion of management) repairs, renewals, replacements, additions, betterments and improvements thereto. (b) The Except as provided in the Mortgage with respect to the Collateral, the Company shall and shall cause each Subsidiary to maintain insurance with insurance companies or associations with a rating of "AA-" or better, as established by Best's Rating Guide (or an equivalent rating with such other publication of a similar nature as shall be in current use), subject to the provisions of the applicable Security Documents, 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 Subsidiary 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 Subsidiaries taken as a whole. (d) Except as otherwise provided in the Security Documents, the The Company shall and shall cause each Recourse Subsidiary to comply with all statutes, laws, ordinances, or government rules and regulations to which it is subject, non-compliance with which would materially and adversely affect the business, prospects, earnings, properties, assets or condition (financial or otherwise) of the Company and its Subsidiaries taken as a whole.

Appears in 1 contract

Samples: Indenture (River Road Realty Corp)

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MAINTENANCE OF PROPERTIES; INSURANCE; BOOKS AND RECORDS; COMPLIANCE WITH LAW. (a) Subject to the applicable provisions of the Security Documents, the The Company shall, and shall cause each Subsidiary of its Restricted Subsidiaries to, at all times cause all properties used or useful in the conduct of its their business to be maintained and kept in good condition, repair and working order and condition, ordinary (reasonable wear and tear excepted) and supplied with all necessary equipment, and shall cause to be made all necessary (in the good faith opinion of management) repairs, renewals, replacements, additions, betterments and improvements thereto. (b) The Company shall maintain, and shall cause to be maintained for each Subsidiary to maintain of its Restricted Subsidiaries, insurance with insurance companies or associations with a rating of "A" or better, as established by Best's Rating Guide (or an equivalent rating with such other publication of a similar nature as shall be in current use), subject to the provisions of the applicable Security Documents, 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 Subsidiary to keep proper books of record and account insured against by corporations similarly situated, in which full and correct entries such amounts as shall be made of all financial transactions customary for corporations similarly situated and the assets with such deductibles and business of the Company by such methods as shall be customary and each Subsidiary, in accordance reasonably consistent with GAAP consistently applied to the Company and its Subsidiaries taken as a wholepast practice. (d) Except as otherwise provided in the Security DocumentsThe Company shall, the Company shall and shall cause each Subsidiary to of its Subsidiaries to, comply with all statutes, laws, ordinances, ordinances or government rules and regulations to which it is they are subject, 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 their Subsidiaries taken as a whole.

Appears in 1 contract

Samples: Indenture (Carpenter W R North America Inc)

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