Safekeeping of Inventory and Inventory Covenants Sample Clauses

Safekeeping of Inventory and Inventory Covenants. Lender shall not be responsible for: (i) the safekeeping of the Inventory; (ii) any loss of or damage to the Inventory; (iii) any diminution in the value of the Inventory; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency or any other Person. As between Borrower and Lender, all risk of loss, damage, destruction or diminution in value of the Inventory shall be borne by Borrower. No Inventory shall be, without Lender's prior written consent, at any time or times hereafter stored with a bailee, warehouseman, consignee or similar third party, other than warehousemen or bailees as to which Borrower has notified Lender and which have signed an agreement in favor of Lender in form and substance satisfactory to Lender. Borrower shall not sell any of its Inventory on a xxxx-and-hold, guaranteed sale, sale-or-return, sale on approval or consignment basis or any other basis subject to a repurchase obligation or return right, except that Borrower may sell Inventory on a xxxx-and-hold basis to the Persons set forth on Schedule 3.13 as to which Borrower has provided Lender with an accurate description of such arrangements and agreements (if not reduced to writing) and true, correct and complete copies of all written agreements, instruments and documents with respect to such arrangements and to such other Persons as to which Borrower has written xxxx-and-hold arrangements and as to which Lender has received prior written notice from Borrower, together with true, correct and complete copies (and descriptions) of all agreements, instruments and documents with respect to such arrangements; provided however, that the following conditions shall be met:
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Safekeeping of Inventory and Inventory Covenants. The Lender shall not be responsible for: (i) the safekeeping of the Inventory; (ii) any loss of or damage to the Inventory; (iii) any diminution in the value of the Inventory; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency or any other Person. All risk of loss, damage, destruction or diminution in value of the Inventory shall be borne by Borrower. Except as expressly set forth in this Agreement or pursuant to the Deposit Inventory System, no Inventory shall, without Lender’s prior written consent, be at any time or times hereafter stored with a bailee, warehouseman, consignee or similar third party. Except for the Deposit Inventory System, Borrower shall not sell any of its Inventory on a xxxx-and-hold, guaranteed sale, sale-or-return, sale on approval or consignment basis or any other basis subject to a repurchase obligation or return right. The Borrower shall not sell any of its Inventory on a xxxx-and-hold basis if it would cause the aggregate outstanding amount of all Accounts arising therefrom to exceed at any time $50,000.00 with respect to all such Account Debtors. No Inventory shall be at any time or times hereafter stored with a bailee, warehouseman, consignee or similar third party unless the Borrower first (i) obtains the Lender’s written consent as to the identity of such third party, and (ii) furnishes to the Lender such agreements, instruments and documents as the Lender shall in its sole discretion specify with respect to such stored Inventory.
Sample 1Sample 2See All (5)
Safekeeping of Inventory and Inventory Covenants. Neither Agent nor any Lender shall be responsible for: (i) the safekeeping of the Inventory; (ii) any loss of or damage to the Inventory; (iii) any diminution in the value of the Inventory; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency or any other Person. As between the Borrowers, Agent and Lenders, all risk of loss, damage, destruction or diminution in value of the Inventory shall be borne by Borrowers. No Inventory of a Borrower shall be, without Agent's prior written consent, at any time or times hereafter stored with a bailee, warehouseman, consignee or similar third party, other than warehousemen or bailees as to which such Borrower has notified Agent and which have signed an agreement in favor of Agent in form and substance satisfactory to Agent. No Borrower shall sell any of its Inventory on a xxxx-and-hold, guaranteed sale, sale-or-return, sale on approval or consignment basis or any other basis subject to a repurchase obligation or return right (except Permitted Consignments).
Sample 1Sample 2Sample 3See All (4)
Safekeeping of Inventory and Inventory Covenants. Neither the Agent nor any Lender shall be responsible for: (i) the safekeeping of the Inventory; (ii) any loss, spoilage or damage to the Inventory; (iii) any diminution in the value of the Inventory; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency or any other Person. Subject to subsection 10.4, as between the Borrower and the Agent and each Lender, responsibility for the safekeeping of the Inventory and all risk of loss, spoilage, damage, destruction or diminution in value of the Inventory shall be borne by the Borrower. Without prior written notice to the Agent, the Borrower shall not sell any Inventory to any customer on approval or on any other basis which entitles the customer to return, or which may obligate the Borrower to repurchase, such Inventory.
Sample 1
Safekeeping of Inventory and Inventory Covenants. Neither the Agent nor any Lender shall be responsible for: (i) the safekeeping of the Inventory; (ii) any loss, spoilage or damage to the Inventory; (iii) any diminution in the value of the Inventory; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency or any other Person. Subject to subsection 10.4, as between the Borrower and the Agent and each Lender, responsibility for the safekeeping of the Inventory and all risk of loss, spoilage, damage, destruction or diminution in value of the
Sample 1
Safekeeping of Inventory and Inventory Covenants. Neither the Agent nor any Lender shall be responsible for any act or default of any carrier, warehouseman, bailee, forwarding agency or any other Person. Subject to SUBSECTION 10.4, as between the Borrower and the Agent and each Lender, all responsibility for the safekeeping of the Inventory and all risk of loss, spoilage, damage, destruction or diminution in value of the Inventory shall be borne by the Borrower. No Inventory is or shall be at any time or times hereafter kept on the premises of or stored with a bailee, warehouseman, consignee or similar third party without the Agent's prior written consent and unless the Agent shall have received warehouse receipts or bailee letters or such other documents, agreements and financing statements satisfactory to the Agent prior to the commencement of such Person's possession or storage. The Borrower shall not sell any Inventory to any customer on approval or on any other basis which entitles the customer to return, or which may obligate the Borrower to repurchase, such Inventory.
Sample 1
Safekeeping of Inventory and Inventory Covenants. Except as otherwise required by law, the Agent shall not be responsible for: (i) the safekeeping of the Inventory; (ii) any loss or damage to the Inventory; (iii) any diminution in the value of the Inventory; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency or any other Person. Except as otherwise required by law, as between each Borrower and the Agent, all risk of loss, damage, destruction or diminution in value of the Inventory shall be borne by that Borrower. Except as set forth on EXHIBIT 3.11, no Inventory is or shall be at any time or times hereafter stored with a bailee, warehouseman, consignee or similar third party without the Agent's prior written consent and unless the Agent shall have received warehouse receipts or bailee letters satisfactory to the Agent prior to the commencement of such storage. No Borrower shall sell any Inventory to any customer on approval or on any other similar basis which entitles the customer to return, or which may obligate such Borrower to repurchase, such Inventory.
Sample 1
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Safekeeping of Inventory and Inventory Covenants. Lender shall ------------------------------------------------ not be responsible for: (i) the safekeeping of the Inventory; (ii) any loss or damage to the Inventory; (iii) any diminution in the value of the Inventory; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency or any other Person. As between Borrower and Lender, all risk of loss, damage, destruction or diminution in value of the Inventory shall be borne by Borrower. Borrower shall not sell any Inventory to any customer on approval, or any other basis which entitles the customer to return or may obligate Borrower to repurchase such Inventory except sales of Inventory made in the ordinary course of business consistent with past practices.
Sample 1

Related to Safekeeping of Inventory and Inventory Covenants

  • Location of Inventory and Equipment The Inventory and Equipment are not stored with a bailee, warehouseman, or similar party (without Foothill's prior written consent) and are located only at the locations identified on Schedule 6.12 or otherwise permitted by Section 6.12.

  • Inventory Covenants With respect to the Inventory: (a) Borrower shall at all times maintain inventory records reasonably satisfactory to Lender, keeping correct and accurate records itemizing and describing the kind, type, and quantity of Inventory, Borrower’s cost therefor and daily withdrawals therefrom and additions thereto; (b) Borrower shall conduct a physical count of the Inventory at least once each year, but at any time or times as Lender may request on or after an Event of Default, and promptly following such physical inventory shall supply Lender with a report in the form and with such specificity as may be reasonably satisfactory to Lender concerning such physical count; (c) Borrower shall not remove any Inventory from the locations set forth or permitted herein, without the prior written consent of Lender, except for sales of Inventory in the ordinary course of Borrower’s business and except to move Inventory directly from one location set forth or permitted herein to another such location; (d) upon Lender’s request, Borrower shall, at its expense, no more than two (2) times in any calendar year (but any time or times as Lender may request on or after an Event of Default), deliver or cause to be delivered to Lender written reports or appraisals as to the Inventory in form, scope and methodology acceptable to Lender and by Hilco Appraisal Services or other appraiser acceptable to Lender, addressed to Lender or upon which Lender is expressly permitted to rely; (e) Borrower shall produce, use, store and maintain the Inventory, with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with applicable laws (including, but not limited to, the requirements of the Federal Fair Labor Standards Act of 1938, as amended and all rules, regulations and orders related thereto); (f) Borrower assumes all responsibility and liability arising from or relating to the production, use, sale or other disposition of the Inventory; (g) Borrower shall keep the Inventory in good and marketable condition; and (h) Borrower shall not, without prior written notice to Lender, acquire or accept any Inventory on consignment.

  • Inventory and Equipment On the date hereof, the Inventory and the Equipment (other than mobile goods) are kept at the locations listed on Schedule 5.

  • Inventory and Supplies Administrator shall order, purchase and provide to the Group on a timely basis inventory and supplies, and such other ordinary, necessary or appropriate materials which are requested by the Group and which the Group shall reasonably determine to be necessary in the operation of the Practice on the same terms commercially available to Administrator. Such inventory, supplies and other materials shall be included in Practice Expenses at their cost to Parent or Administrator, as the case may be.

  • Inventory and Equipment with Bailees Store the Inventory or Equipment of Parent, Borrowers or their respective Subsidiaries at any time now or hereafter with a bailee, warehouseman, or similar party.

  • Location of Equipment and Inventory All Equipment and Inventory are (i) located at the locations indicated on Schedule 4 (ii) in transit to such locations or (iii) in transit to a third party purchaser which will become obligated on a Receivable to the Debtor upon receipt. Except for Equipment and Inventory referred to in clauses (ii) and (iii) of the preceding sentence, the Debtor has exclusive possession and control of the Inventory and Equipment.

  • Equipment and Inventory With respect to any Equipment and/or Inventory of an Obligor, each such Obligor has exclusive possession and control of such Equipment and Inventory of such Obligor except for (i) Equipment leased by such Obligor as a lessee or (ii) Equipment or Inventory in transit with common carriers. No Inventory of an Obligor is held by a Person other than an Obligor pursuant to consignment, sale or return, sale on approval or similar arrangement.

  • As to Equipment and Inventory The Grantor hereby agrees that it shall

  • Special Covenants With Respect to Equipment and Inventory Each Grantor shall:

  • Accounts and Inventory Each Account or item of Inventory which Borrower shall, expressly or by implication, request Lender to classify as an Eligible Account or as Eligible Inventory, respectively, shall, as of the time when such request is made, conform in all respects to the requirements of such classification as set forth in the respective definitions of "Eligible Account" and "

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