Protection and Use of Collateral. (i) each Debtor will keep the Collateral free from any adverse lien, security interest, or encumbrance (other than the security interest granted herein and Permitted Encumbrances); and (ii) each Debtor will not waste or destroy the Collateral or any part thereof and such Debtor will not use the Collateral in violation of any regulations, statute or ordinance or of any judgments, citations, decrees or orders of any judicial or administrative authority, except to the extent that could not reasonably be expected to have a Material Adverse Effect.
Appears in 5 contracts
Samples: Security Agreement (Malibu Boats, Inc.), Security Agreement (Malibu Boats, Inc.), Security Agreement (Malibu Boats, Inc.)
Protection and Use of Collateral. (i) each Debtor will keep the Collateral free from any adverse lien, security interest, or encumbrance (other than the security interest granted herein herein), and Permitted Encumbrances); and (ii) each Debtor will not waste or destroy the Collateral or any part thereof and such thereof; Debtor will not use the Collateral in violation of any regulations, statute or ordinance or of any judgments, citations, decrees or orders of any judicial or administrative authority, except to the extent that could not reasonably be expected to have a Material Adverse Effect.;
Appears in 2 contracts
Samples: Security Agreement (Better Choice Co Inc.), Security Agreement (Better Choice Co Inc.)