Special Agreements With Respect to Certain Tangible Collateral. Borrower additionally agrees and warrants as follows: (a) Borrower will not permit any of the Collateral to be removed from the location specified herein, except for temporary periods in the normal and customary use thereof, without the prior written consent of Lender, and will permit Lender to inspect the Collateral at any time. (b) If any of the Collateral is equipment or goods of a type normally used in more than one state (whether or not actually so used), Borrower will contemporaneously herewith furnish Lender a list of the states wherein such equipment or goods are or will be used, and hereafter will notify Lender in writing (i) of any other states in which such equipment or goods are so used, and (ii) of any change in the location of Borrower's principal place of business. (c) Borrower will not sell, exchange, lease or otherwise dispose of any of the Collateral or any interest therein without the prior written consent of Lender. (d) Borrower will keep the Collateral in good condition and repair and will pay and discharge all taxes, levies and other impositions levied thereon as well as the cost of repairs to or maintenance of same, and will not permit anything to be done that may impair the value of any of the Collateral. If Borrower fails to pay such sums, Lender may do so for Borrower's account and add the amount thereof to the other amounts secured hereby. (e) Until default in any of the terms hereof, or the terms of any indebtedness secured hereby, Borrower shall be entitled to possession of the Collateral and to use the same in any lawful manner, provided that such use does not cause excessive wear and tear to the Collateral, cause it to decline in value at an excessive rate, or violate the terms of any policy of insurance thereon. (f) Borrower will not allow the Collateral to be attached to real estate in such manner as to become a fixture or a part of any real estate.
Appears in 2 contracts
Samples: Security Agreement (Paysys International Inc), Loan Agreement (Data National Corp)
Special Agreements With Respect to Certain Tangible Collateral. Borrower additionally agrees and warrants as follows:
(a) Borrower will not permit any of the Collateral to be removed from the location specified hereinrelocated to any facility not shown on Schedule 3(f) hereto, except for temporary periods in the normal and customary use thereof, without the prior written consent of Lender, and Lender which consent shall not be unreasonably withheld. Borrower will permit Lender to inspect the Collateral at any timeas permitted under the Loan Agreement.
(b) If any of the Collateral is equipment or goods of a type normally that is or are used in more than one state (whether or not actually so used)state, Borrower will contemporaneously herewith furnish Lender a list of the states wherein such equipment or goods are or will be used, and hereafter will notify Lender in writing (i) of any other states in which such equipment or goods are so used, and (ii) of any change in the location of Borrower's principal place of business.
(c) Borrower will not sell, exchange, lease or otherwise dispose of any of the Collateral or any interest therein therein, except for (i) inventory in the ordinary course of business, and (ii) the sale of equipment that is obsolete or no longer used or useful in the business of Borrower without the prior written consent of Lender.
(d) Borrower will keep the Collateral in good condition and repair and will pay and discharge all taxes, levies and other impositions levied thereon as well as the cost of repairs to or maintenance of same, and will not permit anything to be done that may impair the value of any of the Collateral. If Borrower fails to pay such sumssums on or before their respective due dates, Lender may do so for Borrower's account and add the amount thereof to the other amounts secured hereby.
(e) Until default in any of the terms hereof, or the terms of any indebtedness secured hereby, Borrower shall be entitled to possession of the Collateral and to use the same in any lawful mannermanner consistent with past practices, provided that such use does not cause excessive wear and tear to the Collateral, cause it to decline in value at an excessive rate, or violate the terms of any policy of insurance thereon.
(f) Borrower will not allow the Collateral to be attached to real estate in such manner as to become a fixture or a part of any real estateestate without the prior written consent of Lender.
Appears in 2 contracts
Samples: Security Agreement (Factory Card Outlet Corp), Security Agreement (Factory Card Outlet Corp)
Special Agreements With Respect to Certain Tangible Collateral. Borrower additionally agrees and warrants as follows:
(a) Borrower will not permit any of the Collateral to be removed from the location locations specified herein, except for temporary periods in the normal and customary use thereofordinary course of business, without the prior written consent of Lender, and will permit Lender to inspect the Collateral at any time.; provided, however, that if Borrower wishes to store Collateral at an additional location for purposes that are not merely temporary, it may do so by giving written notice to Lender and executing such documents as Lender may require to assure the continuation of the perfection of Lender's security interest in the relocated collateral;
(b) If any of Borrower represents that the Collateral is equipment or goods consisting of a type normally used advertising boards will be placed in more than one state (whether or not actually so used), Borrower will contemporaneously herewith furnish various jurisdictions in the ordinary course of business and agrees to provide Lender with a list of the states wherein such equipment or goods are or will be used, and hereafter will notify Lender in writing (i) of any other states in which such equipment or goods are so used, and (ii) of any change in the location of Borrowerlocations thereof from time to time upon Lender's principal place of businessrequest.
(c) Borrower will not sell, exchange, lease or otherwise dispose of any of the Collateral or any interest therein without the prior written consent of Lender, except for dispositions of immaterial amounts of Collateral in the ordinary course of business.
(d) Borrower will keep the material items of the Collateral in good condition and repair and will pay and discharge all taxes, levies and other impositions levied thereon as well as the cost of repairs to or maintenance of same, and will not permit anything to be done that may impair the value of any of the Collateral. If Borrower fails to pay such sums, Lender may do so for Borrower's account and add the amount thereof to the other amounts secured hereby.
(e) Until default in any of the terms hereof, or the terms of any indebtedness secured hereby, Borrower shall be entitled to possession of the Collateral and to use the same in any lawful manner, provided that such use does not cause excessive wear and tear to the Collateral, cause it to decline in value at an excessive rate, or violate the terms of any policy of insurance thereon.
(f) Borrower will not allow the Collateral to be attached to real estate in such manner as to become a fixture or a part of any real estate.
Appears in 1 contract
Special Agreements With Respect to Certain Tangible Collateral. Borrower additionally agrees and warrants as follows:
(a) Borrower will not permit any of the Collateral to be removed from the location specified herein, except for temporary periods in the normal and customary use thereof, without the prior written consent of Lender, and will permit Lender to inspect the Collateral at any time.
(b) If any of the Collateral is equipment or goods of a type normally used in more than one state (whether or not actually so used), Borrower will contemporaneously herewith furnish Lender a list of the states wherein such equipment or goods are or will be used, and hereafter will notify Lender in writing (i) of any other states in which such equipment or goods are so used, and (ii) of any change in the location of Borrower's principal place of business.
(c) Borrower will not sell, exchange, lease or otherwise dispose of any of the Collateral (other than Inventory in the ordinary course of business) or any interest therein without the prior written consent of LenderLenders.
(db) Borrower will keep the Collateral in good condition and repair ordinary wear and tear excepted and will pay and discharge all taxes, levies and other impositions levied thereon as well as the cost of repairs to or maintenance of same, and will not permit anything to be done that may impair the value of any of the Collateral. If Borrower fails to pay such sums, Lender Lenders may do so for Borrower's account and add the amount thereof to the other amounts secured hereby.
(ec) Until default in any of the terms hereof, or the terms of any indebtedness indebtedness, liabilities or obligations secured hereby, Borrower shall be entitled to possession of the Collateral and to use the same in any lawful manner, provided that such use does not cause excessive wear and tear to the Collateral, cause it to decline in value at an excessive rate, or violate the terms of any policy of insurance thereon.
(fd) Borrower will not allow the Collateral to be attached to real estate in such manner as to become a fixture or a part of any real estate.
Appears in 1 contract
Samples: Security Agreement (Yellowbrix Inc)
Special Agreements With Respect to Certain Tangible Collateral. Each Borrower additionally agrees and warrants as follows:
(a) Borrower will not permit any of the Collateral to be removed from the location specified herein, except for temporary periods in the normal and customary use thereof, without the prior written consent of Lender, and will permit Lender to inspect the Collateral at any time.
(b) If any of the Collateral is equipment or goods of a type normally used in more than one state (whether or not actually so used), Borrower will contemporaneously herewith furnish Lender a list of the states wherein such equipment or goods are or will be used, and hereafter will notify Lender in writing (i) of any other states in which such equipment or goods are so used, and (ii) of any change in the location of Borrower's principal chief place of business.
(c) Except in the ordinary course of business, Borrower will not sell, exchange, lease or otherwise dispose of any of the Collateral or any interest therein without the prior written consent of Lender.
(d) Borrower will keep the Collateral in good condition and repair and will pay and discharge all taxes, levies and other impositions levied thereon as well as the cost of repairs to or maintenance of same, and will not permit anything to be done that may impair the value of the Collateral in any of the Collateralmaterial way. If Borrower fails to pay such sums, Lender may do so for Borrower's account and add the amount thereof to the other amounts secured hereby.
(e) Until default in any of the terms hereof, or the terms of any indebtedness secured hereby, Borrower shall be entitled to possession of the Collateral and to use the same in any lawful manner, provided that such use does not cause excessive wear and tear to the Collateral, cause it to decline in value at an excessive rate, or violate the terms of any policy of insurance thereon.
(f) Borrower will not allow the Collateral to be attached to real estate in such manner as to become a fixture or a part of any real estate.
Appears in 1 contract
Special Agreements With Respect to Certain Tangible Collateral. Borrower Subsidiary additionally agrees and warrants as follows:
(a) Borrower Subsidiary will not permit any of the Collateral to be removed from the location specified herein, except for temporary periods in the normal and customary use thereof, without the prior written consent of Lender, and will permit Lender to inspect the Collateral at any time.
(b) If any of the Collateral is equipment or goods of a type normally used in more than one state (whether or not actually so used), Borrower Subsidiary will contemporaneously herewith furnish Lender a list of the states wherein such equipment or goods are or will be used, and hereafter will notify Lender in writing (i) of any other states in which such equipment or goods are so used, and (ii) of any change in the location of BorrowerSubsidiary's principal place of business.
(c) Borrower Subsidiary will not sell, exchange, lease or otherwise dispose of any of the Collateral or any interest therein without the prior written consent of Lender.
(d) Borrower Subsidiary will keep the Collateral in good condition and repair and will pay and discharge all taxes, levies and other impositions levied thereon as well as the cost of repairs to or maintenance of same, and will not permit anything to be done that may impair the value of any of the Collateral. If Borrower Subsidiary fails to pay such sums, Lender may do so for BorrowerSubsidiary's account and add the amount thereof to the other amounts secured hereby.
(e) Until default in any of the terms hereof, or the terms of any indebtedness secured hereby, Borrower Subsidiary shall be entitled to possession of the Collateral and to use the same in any lawful manner, provided that such use does not cause excessive wear and tear to the Collateral, cause it to decline in value at an excessive rate, or violate the terms of any policy of insurance thereon.
(f) Borrower Subsidiary will not allow the Collateral to be attached to real estate in such manner as to become a fixture or a part of any real estate.
Appears in 1 contract
Samples: Loan Agreement (Data National Corp)
Special Agreements With Respect to Certain Tangible Collateral. Borrower Each Grantor additionally agrees and warrants as follows:
(a) Borrower Grantor will not permit any of the Grantor's Collateral to be removed from the location specified herein, except for temporary periods in the normal and customary use thereof, without the prior written consent of LenderLenders, and will permit Lender Lenders to inspect the Grantor's Collateral at any time.
(b) If any of the Grantor's Collateral is equipment or goods of a type normally used in more than one state (whether or not actually so used), Borrower Grantor will contemporaneously herewith furnish Lender Lenders a list of the states wherein such equipment or goods are or will be used, and hereafter will notify Lender Lenders in writing (i) of any other states in which such equipment or goods are so used, and (ii) of any change in the location of BorrowerGrantor's principal chief place of business.
(c) Borrower Grantor will not sell, exchange, lease or otherwise dispose of any of the Grantor's Collateral or any interest therein without the prior written consent of LenderLenders; provided, however, so long is there exists no default, Grantor may sell, exchange, lease or otherwise dispose of (i) inventory in the ordinary course of business and (ii) obsolete equipment.
(d) Borrower Grantor will keep the Grantor's Collateral in good condition and repair repair, ordinary wear and tear excepted, and will pay and discharge all taxes, levies and other impositions levied thereon as well as the cost of repairs to or maintenance of same, and will not permit anything to be done that may impair the value of any of the CollateralGrantor's Collateral in any material respect. If Borrower Grantor fails to pay such sums, Lender Lenders may do so for BorrowerGrantor's account and add the amount thereof to the other amounts secured hereby.
(e) Until default in any of the terms hereof, or the terms of any indebtedness secured hereby, Borrower Grantor shall be entitled to possession of the Grantor's Collateral and to use the same in any lawful manner, provided that such use does not cause excessive wear and tear to the Grantor's Collateral, cause it to decline in value at an excessive rate, or violate the terms of any policy of insurance thereon.
(f) Borrower Grantor will not allow the any material portion of Grantor's Collateral to be attached to real estate in such manner as to become a fixture or a part of any real estate.
Appears in 1 contract
Samples: Security Agreement (American Consolidated Laboratories Inc)
Special Agreements With Respect to Certain Tangible Collateral. Borrower additionally agrees and warrants as follows:
(a) Borrower will not permit any of the Collateral to be removed from the location specified herein, except for temporary periods in the normal and customary use thereof, without the prior written consent of Lender, and will permit Lender to inspect the Collateral at any time, notwithstanding anything to the contrary herein, Borrower shall be permitted to deliver Collateral:
(i) to suppliers in the ordinary course of business for additional assembly work or for the provision of other value added goods or services, and (ii) to customers for usage or testing at their places of business, provided such Collateral provision is in the ordinary course of business.
(b) If any of the Collateral is equipment or goods of a type normally used in more than one state (whether or not actually so used), Borrower will contemporaneously herewith furnish Lender a list of the states wherein such equipment or goods (have a fair market value of $10,000 or more, for anyone location) are or will be used, and hereafter will notify Lender in writing (i) of any other states in which such equipment or goods are so used, and (ii) of any change in the location of Borrower's principal chief place of business.
(c) Borrower will not sell, exchange, lease or otherwise dispose of any of the Collateral or any interest therein except in the ordinary course of business without the prior written consent of Lender.
(d) Borrower will keep the Collateral in good condition and repair and will pay and discharge all taxes, levies and other impositions levied thereon as well as the cost of repairs to or maintenance of same, and will not permit anything to be done that may impair the value of any of the Collateral. If Borrower fails to pay such sums, Lender may do so for Borrower's account and add the amount thereof to the other amounts secured hereby.
(e) Until default in any of the terms hereof, or the terms of any indebtedness secured hereby, Borrower shall be entitled to possession of the Collateral and to use the same in any lawful manner, provided that such use does not cause excessive wear and tear to the Collateral, cause it to decline in value at an excessive rate, or violate the terms of any policy of insurance thereon.
(f) Borrower will not allow the Collateral to be attached to real estate in such manner as to become a fixture or a part of any real estate.
Appears in 1 contract
Special Agreements With Respect to Certain Tangible Collateral. Borrower additionally agrees and warrants as follows:
(a) Borrower will not permit any of the Collateral to be removed from the location specified herein, except for temporary periods in the normal and customary use thereofthereof and consignment inventory placed with Borrower's customers in the ordinary course of business, without the prior written consent of Lender, and will permit Lender to inspect the Collateral at any time.
(b) If any of the Collateral is equipment or goods of a type normally used in more than one state (whether or not actually so used), Borrower will contemporaneously herewith furnish Lender a list of the states wherein such equipment or goods are or will be used, and hereafter will notify Lender in writing (i) of any other states in which such equipment or goods are so used, and (ii) of any change in the location of Borrower's principal chief place of business.
(c) Except in the ordinary course of business, Borrower will not sell, exchange, lease or otherwise dispose of any of the Collateral or any interest therein without the prior written consent of Lender.
(d) Borrower will keep the Collateral in good condition and repair and will pay and discharge all taxes, levies and other impositions levied thereon as well as the cost of repairs to or maintenance of same, and will not permit anything to be done that may impair the value of any of the Collateral. If Borrower fails to pay such sums, Lender may do so for Borrower's account and add the amount thereof to the other amounts secured hereby.
(e) Until default in any of the terms hereof, or the terms of any indebtedness secured hereby, Borrower shall be entitled to possession of the Collateral and to use the same in any lawful manner, provided that such use does not cause excessive wear and tear to the Collateral, cause it to decline in value at an excessive rate, or violate the terms of any policy of insurance thereon.
(f) Borrower will not allow the Collateral to be attached to real estate in such manner as to become a fixture or a part of any real estate.
Appears in 1 contract
Special Agreements With Respect to Certain Tangible Collateral. Borrower additionally agrees and warrants as follows:
(a) Borrower will not permit any of the Collateral to be removed from the location specified herein, except for temporary periods in the normal and customary use thereof, without the prior written consent of Lender, and will permit Lender to inspect the Collateral at any timeduring business hours upon reasonable prior notice.
(b) If any of the Collateral is equipment or goods of a type normally used in more than one state (whether or not actually so used), Borrower will contemporaneously herewith furnish Lender a list of the states wherein such equipment or goods are or will be used, and hereafter will notify Lender in writing (i) of any other states in which such equipment or goods are so used, and (ii) of any change in the location of Borrower's principal place of business.
(c) Borrower will not sell, exchange, lease or otherwise dispose of any of the Collateral or any interest therein (except in the ordinary course of conduct of its business) without the prior written consent of Lender.
(d) Borrower will keep the Collateral in good condition and repair and will pay and discharge all taxes, levies and other impositions levied thereon as well as the cost of repairs to or maintenance of same, and will not permit anything to be done that may impair the value of any of the Collateral. If Borrower fails to pay such sums, Lender may do so for Borrower's account and add the amount thereof to the other amounts secured hereby.
(e) Until default in any of the terms hereof, or the terms of any indebtedness secured hereby, Borrower shall be entitled to possession of the Collateral and to use the same in any lawful manner, provided that such use does not cause excessive wear and tear to the Collateral, cause it to decline in value at an excessive rate, or violate the terms of any policy of insurance thereon.
(f) Borrower will not allow the Collateral to be attached to real estate in such manner as to become a fixture or a part of any real estate.
Appears in 1 contract
Samples: Security Agreement (Dynagen Inc)