Common use of REPRESENTATIONS AND COVENANTS OF GUARANTOR Clause in Contracts

REPRESENTATIONS AND COVENANTS OF GUARANTOR. Guarantor hereby represents to and agrees with Lender as follows: (a) Guarantor owns the Collateral as sole owner, free and clear of any Liens, other than Permitted Liens. (b) So long as any amounts due pursuant to the Loan Agreement remain unpaid, Guarantor agrees not to sell, assign or transfer the Collateral, other than the sale of Collateral in the ordinary course of business, and to maintain it free and clear of any Liens, other than Permitted Liens.