Properties in Good Condition. (a) Each Borrower shall keep its properties, and shall cause each Subsidiary to keep its properties, in good repair, working order and condition (reasonable wear and tear excepted) and, from time to time, make and cause each Subsidiary to make all needful and proper repairs, renewals, replacements, additions and improvements thereto, so that the business carried on may be properly and advantageously conducted at all times in accordance with prudent business management. The Inventory shall only be used in each Borrower’s business and not for personal, family, household or farming use.
(b) All of the Inventory of each Borrower is and will be held for sale or lease, or to be furnished in connection with the rendition of services, in the ordinary course of such Borrower’s business, and is and will be fit for such purposes. Each Borrower shall keep the Inventory of such Borrower in good and marketable condition, at its own expense. Each Borrower will not acquire or accept any Inventory on consignment or approval, except if such Inventory is at all times clearly identified on the books and records of such Borrower as Inventory held on consignment or approval and such Inventory is separately reported to Agent and not included in the Inventory of such Borrower as reported to Agent in a manner satisfactory to Agent. Each Borrower agrees that all Inventory will be mined and produced in accordance with all applicable laws, including the Surface Mining Control and Reclamation Act of 1977, the Mine Safety and Health Act of 1977, the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations, and orders thereunder. Each Borrower shall conduct a physical count of the Inventory at least once per fiscal year, and at any time on or after an Event of Default and so long as the same is continuing, at such other times as Agent reasonably requests, and in each case shall promptly supply Agent and Lenders with a copy of such count accompanied by a report of the Value of such Inventory. Borrowers shall not, without Agent’s prior written consent, sell any Inventory on a xxxx-and-hold (except if reported to Agent as xxxx-and-hold goods), guaranteed sale, sale and return, sale on approval, or other repurchase or return basis; provided, that, Borrowers may sell Inventory on a sale and return basis so long as: (i) such sales are made consistent with Borrowers’ current practices on the date hereof, (ii) such Inventory is sold cash on delivery and not on any extend...
Properties in Good Condition. Each Borrower shall keep its properties in good repair, working order and condition (subject to such wear and tear as may occur in the ordinary course of business) and, from time to time, make all needful and proper repairs, renewals, replacements, additions and improvements thereto, so that the business carried on may be properly and advantageously conducted at all times in accordance with prudent business management.
Properties in Good Condition. Except as permitted in Section 9.5 hereof, each of the Borrowers shall keep, and shall cause each of their respective Subsidiaries to keep, its material properties in good repair, working order and condition, ordinary wear and tear excepted, and, from time to time, make all necessary and proper repairs, renewals, replacements, additions and improvements thereto, so that the business carried on may be properly and advantageously conducted at all times in accordance with prudent business management.
Properties in Good Condition. All the material properties of Borrower and Guarantors are, and all material properties to be added in connection with any contemplated expansion will be in good repair and good working order and condition in a manner consistent with past practices of Borrower and Guarantors, and comparable to industry standards and are and will be in compliance with all Applicable Laws.
Properties in Good Condition. The COMPANY shall keep its properties in good repair, working order and condition and, from time to time, make all needful and proper repairs, renewals, replacements, additions and improvements thereto, so that the business carried on may be properly and advantageously conducted at all times in accordance with prudent business management.
Properties in Good Condition. 55 7.13 Insurance................................................... 55 7.14
Properties in Good Condition. Keep, and cause their Subsidiaries to keep, their leased properties in good repair, working order and condition and, from time to time, make all needed and proper repairs, renewals, replacements, additions and improvements thereto, in accordance with the terms of the applicable leases so that the business carried on by the Borrowers and their Subsidiaries may be properly and advantageously conducted at all times in accordance with prudent business management.
Properties in Good Condition. (a) Each of Borrowers shall keep its properties used in the conduct of its business, and shall cause each of its Subsidiaries to keep their properties used in the conduct of their businesses, in good repair, working order and condition (reasonable wear and tear excepted) and, from time to time, make and cause its Subsidiaries to make all needful and proper repairs, renewals, replacements, additions and improvements thereto, so that the business carried on may be properly and advantageously conducted at all times in accordance with prudent business management. The Inventory and the machinery and equipment of each of Borrowers shall only be used in its business and not for personal, family, household or farming use.
(b) All of the Inventory of each of Borrowers is and shall be held for sale, or to be furnished in connection with the rendition of services, in the ordinary course of Borrowers' businesses, and is and will be fit for such purposes. Each of Borrowers shall keep the Inventory in good and marketable condition, at its own expense. Each of Borrowers shall not acquire or accept any Inventory on consignment or approval or sell any Inventory on a bill-and-hold, guaranteed sale xx xale on approval basis, except to the extent such Inventory is specifically reported to Agent in such manner and at such time or times as Agent may require. Each of Borrowers agrees that all Inventory produced by them shall be produced in accordance with the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations, and orders thereunder.
Properties in Good Condition. All the material properties of Borrower and Wholly Owned Subsidiaries are, and all material properties to be added in connection with any contemplated expansion will be in good repair and good working order and condition in a manner consistent with past practices of Borrower and Wholly Owned Subsidiaries, and comparable to industry standards and are and will be in compliance with all Applicable Laws.
Properties in Good Condition. All the material properties of Borrower are, and all material properties to be added in connection with any contemplated expansion will be in good repair and good working order and condition (ordinary wear and tear excepted) in a manner consistent with past practices of Borrower, and comparable to industry standards and are and will be in material compliance with all Applicable Laws.
