Maintenance of Security. Borrower will deliver or cause to be delivered to Lender and/or the Custodial Agent and will maintain or cause to be maintained in full force and effect throughout the Term (except as otherwise expressly provided in such Loan Document), as security for the Performance of the Obligations, the Security Documents and all other security required to be given to Lender pursuant to the terms of this Agreement.
Maintenance of Security. Use, and permit others to use, the Property only for its present use or such other uses as permitted by applicable Legal Requirements and approved in writing by Mortgagee. Mortgagor shall keep the Property in good condition and order and in a rentable and tenantable state of repair and will make or cause to be made, as and when necessary, all repairs, renewals, and replacements, structural and nonstructural, exterior and interior, foreseen and unforeseen, ordinary and extraordinary, provided, however, that no structural repairs, renewals or replacements in excess of $100,000 shall be made without Mortgagee’s prior written consent, not to be unreasonably withheld, conditioned or delayed. Mortgagor shall not remove, demolish or alter any material portion of the Property or any of the Property in a manner that materially adversely affects the same, nor commit or suffer waste with respect thereto, nor permit the Property to become deserted or abandoned. Mortgagor covenants and agrees not to take or permit any action with respect to the Property which will in any manner materially impair the security of this Mortgage.
Maintenance of Security. Use, and permit others to use, the Property only for its present use or such other uses as permitted by applicable Legal Requirements and approved in writing by the Mortgagee. The Mortgagor shall keep the Property in good condition and order and in a rentable and tenantable state of repair and will make or cause to be made, as and when necessary, all repairs, renewals, and replacements, structural and nonstructural, exterior and interior, foreseen and unforeseen, ordinary and extraordinary, provided, however, that no structural repairs, renewals or replacements shall be made without the Mortgagee’s prior written consent. The Mortgagor shall not remove or demolish the Property nor commit or suffer waste with respect thereto, nor permit the Property to become deserted or abandoned. The Mortgagor covenants and agrees not to take or permit any action with respect to the Property which will in any manner impair the security of this Mortgage or the use of the Property as set forth in the Loan Documents.
Maintenance of Security. The Borrower shall take all action necessary or desirable in connection with the registration and perfection of the security constituted by the Security Documents and maintain the same with valid first priority throughout the Facility Period.
Maintenance of Security. Borrower shall execute and deliver (or cause to be executed and delivered) to Agent all security agreements, financing statements, assignments and such other agreements, documents, instruments and certificates, and supplements and amendments thereto, and take such other actions, as Agent deems necessary or appropriate in order to maintain as valid, enforceable and perfected first or second priority liens and security interests, as applicable, all Liens and security interests in the Collateral granted to Agent as agent for Lenders to secure the Obligations. Borrower shall not grant extensions of time for the payment of, compromise for less than the full face value or release in whole or in part, any Purchaser or other Person liable for the payment of, or allow any credit whatsoever except for the amount of cash to be paid upon, any Collateral or any instrument, chattel paper or document representing the Collateral.
Maintenance of Security. Borrower shall execute and deliver (or cause to be executed and delivered) to Lender all security agreements, financing statements, assignments, and such other agreements, documents, instruments, and certificates, and all supplements and amendments thereto, and take all such other actions, as Lender deems necessary or appropriate in order to maintain as valid, enforceable, and perfected first priority Liens and security interests, all Liens and security interests in the Collateral and Applicable Underlying Loan Collateral granted to Lender to secure the Obligations. Borrower shall not grant extensions of time for the payment of, or compromise for less than the full face value or release in whole or in part, any Applicable Underlying Borrower, Applicable Underlying Guarantor, or other Person liable for the payment of, or allow any credit whatsoever except for the amount of cash to be paid upon, any Collateral or any instrument, chattel paper, or document representing the Collateral.
Maintenance of Security. Subject to Section 9.3, it shall take all necessary steps to preserve and maintain in effect the rights of the Agent and the Lenders, as well as any collateral agent designated by the Agent, pursuant to the Security Documents, together with any renewals thereof or additional documents creating Charges that may be required from time to time. In addition, if any new Subsidiary of any member of the VL Group is created or Acquired, or if a Person otherwise
Maintenance of Security. Borrower shall execute and deliver (or cause to be executed and delivered) to Agent all security agreements, financing statement filing authorizations, assignments and such other agreements, documents, instruments and certificates, and supplements and amendments thereto, and take such other actions, as Agent deems necessary or appropriate in order to maintain as valid, enforceable and perfected first priority lien and security interest, as applicable, all Liens and security interests in the Collateral granted to Agent as agent for Lenders to secure the Obligations. Except as permitted under Section 3.6, Borrower shall not grant extensions of time for the payment of, compromise for less than the full face value or release in whole or in part, any Purchaser or other Person liable for the payment of, or allow any credit whatsoever except for the amount of cash to be paid upon, any Collateral or any instrument, chattel paper or document representing the Collateral.
Maintenance of Security. 17.1 If the Agent reasonably requires at any time and from time to time and at least every twelve (12) months, each Mortgaged Vessel shall be valued in Euros by two Approved S & P Brokers chosen by the Security Trustee, acting with the authorisation of the Instructing Group and the Market Value of each Mortgaged Vessel shall be the average of such two valuations which shall be made without physical inspection (unless otherwise required by the Security Trustee), and on the basis of an arm’s-length purchase by a willing buyer from a willing seller and without taking into account any charterparty. The fees of the Approved S & P Brokers appointed to give such valuations and all other costs arising in connection with the obtaining of any such valuations shall be paid by the Borrowers.
Maintenance of Security. The Customer hereby represents and warrants to the Bank that all the Security is duly owned by it or by the provider thereof free and clear of any encumbrances in favor of any party other than the Bank. The Customer shall maintain and preserve the Security in good order and do all acts necessary or appropriate to preserve the value thereof. If the Security is found to be defective, of insufficient value or subject to dispute, the Customer shall immediately replace the Security or furnish additional security in form and substance satisfactory to the Bank. In the event the value of the Security is reduced or the Security is destroyed or damaged or is in danger of being destroyed or damaged due to any cause outside the Bank's control, the Customer shall immediately furnish additional security or cash as required by the Bank. Should the Security be nationalized by any government authority or otherwise expropriated and the Customer thereby becomes entitled to receive payment, the Bank shall be entitled to, and the Bank is hereby authorized by the Customer to, receive said payment on behalf of the Customer and to apply all of such payment to the repayment/payment/pre-payment of the Obligations and/or to deposit the same to the Special Account, as the Bank deems appropriate.
