Status of Collateral. All Collateral is genuine and validly existing. Except for items of insignificant value or as otherwise reflected in writing by Debtor to Bank under a borrowing base or otherwise, (i) Collateral constituting inventory, equipment and fixtures is in good condition, not obsolete and is either currently saleable or usable; and
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Samples: Revolving Credit Agreement (Hmi Industries Inc), Loan Agreement (Synthetech Inc), Revolving Credit Agreement (Nautilus Group Inc)
Status of Collateral. All Collateral is genuine and validly existing. Except for items of insignificant value or as otherwise reflected in writing by the Debtor to the Bank under a borrowing base or otherwise, (i) Collateral constituting inventory, equipment and fixtures is in good condition, not obsolete and is either currently saleable or usable; and
Appears in 2 contracts
Samples: Business Security Agreement (Universal Manufacturing Co), Business Security Agreement (Universal Manufacturing Co)
Status of Collateral. All Collateral collateral is genuine and validly existing. Except for items of insignificant value or as otherwise reflected in writing by the Debtor to the Bank under a borrowing base or otherwise, (i) Collateral constituting inventory, equipment and fixtures is in good condition, not obsolete and is either currently saleable or usable; and
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