Common use of Warranties and Representations-Inventory Clause in Contracts

Warranties and Representations-Inventory. For each item of Inventory listed by Borrower on any Borrowing Base Certificate, Borrower covenants, warrants and represents to DFS that at all times: (a) Inventory will be kept only at the locations indicated on Exhibit 8.17; (b) [INTENTIONALLY DELETED]; (c) Borrower now keeps and will keep correct and accurate records itemizing and describing the kind, type, quality and quantity of Inventory, Borrower's cost therefor and the selling price thereof, the daily withdrawals therefrom and the additions thereto; (d) Inventory is not and will not be stored with a bailee, repairman, warehouseman or similar party without DFS' prior written consent, and Borrower will, concurrently with delivery to such party, cause any such party to issue and deliver to DFS, in form acceptable to DFS, warehouse receipts, in DFS' name evidencing the storage of such Inventory, and waivers of warehouseman's liens in favor of DFS; (e) Borrower will pay all taxes, rents, business taxes, and the like on the premises where the Inventory is located; and (f) Borrower will not rent, lease, lend, demonstrate, pledge, consign, transfer or secrete any of the Inventory or use any of the Inventory for any purpose other than exhibition and sale to buyers in the ordinary course of business, without DFS' prior written consent.

Appears in 2 contracts

Samples: Credit and Security Agreement (Creative Computers Inc), Credit and Security Agreement (Creative Computers Inc)

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Warranties and Representations-Inventory. For each item of Inventory listed by Borrower on any Borrowing Base Certificate, Borrower covenants, warrants and represents to DFS that at all times: (a) except for Inventory in transit, Inventory will be kept only at the locations indicated on Exhibit 8.17; (b) [INTENTIONALLY DELETED]no Inventory is or will be produced in violation of the Federal Fair Labor Standards Act; (c) Borrower now keeps and will keep materially correct and accurate records itemizing and describing the kind, type, quality and quantity of Inventory, Borrower's cost therefor and the listed selling price thereof, the daily withdrawals therefrom and the additions thereto; (d) Inventory is not and will not be stored with a bailee, repairman, warehouseman or similar party without DFS' prior written consent, and Borrower will, concurrently with delivery to such party, cause any such party to issue and deliver to DFS, in form acceptable to DFS, warehouse receipts, in DFS' name evidencing the storage of such Inventory, and waivers of warehouseman's liens in favor of DFS; (e) Borrower will pay all taxes, rents, business taxes, and the like on the premises where the Inventory is located; and (f) Borrower will not rent, lease, lend, demonstrate, pledge, consign, transfer or secrete any of the Inventory or use any of the Inventory for any purpose other than exhibition and sale to buyers in the ordinary course of business, without DFS' prior written consent.

Appears in 1 contract

Samples: Credit and Security Agreement (Elcom International Inc)

Warranties and Representations-Inventory. For each item of Inventory listed by Borrower on any Borrowing Base Certificate, Borrower covenants, warrants and represents to DFS that at all times: (a) Inventory not on rent will be kept only at the locations indicated on Exhibit 8.17; (b) [INTENTIONALLY DELETED]; (c) Borrower now keeps and will keep correct and accurate records itemizing and describing the kind, type, quality and quantity of Inventory, Borrower's cost therefor and the selling price thereof, the daily withdrawals therefrom and the additions thereto; (dc) Inventory is not and will not be stored with a bailee, repairman, warehouseman or similar party without DFS' prior written consent, and Borrower will, concurrently with delivery to such party, cause any such party to issue and deliver to DFS, in form acceptable to DFS, warehouse receipts, in DFS' name evidencing the storage of such Inventory, and waivers of warehouseman's liens in favor of DFS; (ed) Borrower will pay all taxes, rents, business taxes, and the like on the premises where the Inventory is located; and (fe) Borrower will not rent, lease, lend, demonstrate, pledge, consign, transfer or secrete any of the Inventory or use any of the Inventory for any purpose other than exhibition and sale to buyers in the ordinary course of business, without DFS' prior written consent.

Appears in 1 contract

Samples: Loan and Security Agreement (Rdo Equipment Co)

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Warranties and Representations-Inventory. For each item of Inventory listed by Borrower on any Borrowing Base Certificate, Borrower covenants, ------------------------------------------ warrants and represents to DFS that at all times: (a) Inventory will be kept only at the locations indicated on Exhibit 8.17; (b) [INTENTIONALLY DELETED]no Inventory is or will be ------------ produced in violation of the Federal Fair Labor Standards Act; (c) Borrower now keeps and will keep correct and accurate records itemizing and describing the kind, type, quality and quantity of Inventory, Borrower's cost therefor and the selling price thereof, the daily withdrawals therefrom and the additions thereto; (d) Inventory is not and will not be stored with a bailee, repairman, warehouseman or similar party without DFS' prior written consent, and Borrower will, concurrently with delivery to such party, cause any such party to issue and deliver to DFS, in form acceptable to DFS, warehouse receipts, in DFS' name evidencing the storage of such Inventory, and waivers of warehouseman's liens in favor of DFS; (e) Borrower will pay all of its taxes, rents, business taxes, and the like on the premises where the Inventory is located; and (f) Borrower will not rent, lease, lend, demonstrate, pledge, consign, transfer or secrete any of the Inventory or use any of the Inventory for any purpose other than exhibition and sale to buyers in the ordinary course of business, without DFS' prior written consent.

Appears in 1 contract

Samples: Credit and Security Agreement (Pomeroy Computer Resources Inc)

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