Common use of Preservation of Collateral: Collateral Value Clause in Contracts

Preservation of Collateral: Collateral Value. Each of Seller and each Guarantor shall do all things necessary to preserve the Collateral so that it remains subject to a first priority perfected security interest hereunder. Without limiting the foregoing, Seller and each Guarantor will comply with all rules, regulations and other laws of any Governmental Authority and cause the Collateral to comply with all applicable rules, regulations and other laws. Neither Seller nor a Guarantor will allow any default by Seller or either Guarantor to occur under any Collateral or any Program Documents and Seller and each Guarantor shall fully perform or cause to be performed when due all of its obligations under any Collateral or the Program Documents.

Preservation of Collateral: Collateral Value. Each of The Seller and each Guarantor shall do all things necessary to preserve the Collateral so that it remains subject to a first priority perfected security interest hereunder. Without limiting the foregoing, the Seller and each Guarantor will comply with all applicable laws, rules, regulations and other laws of any Governmental Authority applicable to Seller relating to the Collateral and cause the Collateral to comply with all applicable laws, rules, regulations and other lawslaws of any such Governmental Authority. Neither The Seller nor a Guarantor will not allow any default by Seller or either Guarantor to occur for which Seller is responsible under any Collateral or any Program Documents and Seller and each Guarantor shall fully perform or cause to be performed when due all of its obligations under any Collateral or the Program Documents.