A Bankers Lien or Right to Setoff in Favor of Royal Bank of Canada Rbc
A Banker’s Lien or Right to Setoff in Favor of Royal Bank of Canada (“RBC Sample Clauses
a banker’s Lien or right to setoff in favor of Royal Bank of Canada (“RBC with respect to amounts in accounts maintained by MARK at RBC up to an aggregate amount of $400,000 to secure a VISA credit card facility. All material machinery, equipment, fixtures, vehicles and other properties owned, leased or used by either Company or any of its Subsidiaries are in good operating condition and repair and are reasonably fit and usable for the purposes for which they are being used, reasonable wear and tear, casualty and obsolescence excepted. Each Company and its Subsidiaries are in compliance with all material terms of each lease to which it is a party or is otherwise bound, the non-compliance with which could reasonably be expected to have a Material Adverse Effect.