Common use of Maintenance of Tangible Property Clause in Contracts

Maintenance of Tangible Property. Each Related Person will maintain all of its tangible Property in good repair and condition, ordinary wear and tear excepted, and make all necessary replacements thereof and operate such Property in a good and workmanlike manner, except to the extent the failure to do so would not have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Cliffs Drilling Co)

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Maintenance of Tangible Property. Each Related Person will maintain Maintain all of its tangible Property property relating to the Collateral in good repair and condition, ordinary wear and tear excepted, condition and make all necessary replacements thereof and operate such Property property in a good and workmanlike mannermanner in accordance with standard industry practices, except to the extent unless the failure to do so would not have a Material Adverse Effectmaterial adverse effect on the Borrower or the value of any Collateral.

Appears in 1 contract

Samples: Loan Agreement (Nde Environmental Corp)

Maintenance of Tangible Property. Each Related Person will maintain Maintain all of its material tangible Property in good repair and condition, ordinary wear and tear excepted, condition and make all necessary replacements thereof and operate such Property in a good and workmanlike manner, except to the extent that the failure to do so would not have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (International PetroReal Oil CORP)

Maintenance of Tangible Property. Each Related Person will maintain Maintain, and cause each of its Subsidiaries to maintain, all of its material tangible Property in good repair and condition, ordinary wear and tear excepted, condition and make all necessary replacements thereof and operate such Property in a good and workmanlike manner, except to the extent the failure to do so would not have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Swift Energy Co)

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Maintenance of Tangible Property. Each Related Person will maintain Maintain all of its tangible Property property in good repair and condition, ordinary wear and tear excepted, condition and make all necessary replacements thereof and operate such Property property in a good and workmanlike mannermanner in accordance with standard industry practices, except to the extent unless the failure to do so would not have a Material Adverse Effectmaterial adverse effect on Borrower and its Subsidiaries (taken as a whole) or the value of the Borrowing Base Properties.

Appears in 1 contract

Samples: Loan Agreement (Carrizo Oil & Gas Inc)

Maintenance of Tangible Property. Each Related Person will maintain Maintain all of its tangible Property property relating to the Collateral Assets in good repair and condition, ordinary wear and tear excepted, condition and make all necessary replacements thereof and operate such Property property in a good and workmanlike mannermanner in accordance with standard industry practices, except to the extent unless the failure to do so would not have a Material Adverse EffectEffect on the Borrower or the value of any Collateral Asset.

Appears in 1 contract

Samples: Term and Revolving Credit Agreement (Continental Resources Inc)

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