Common use of Business and Property of Borrowers Clause in Contracts

Business and Property of Borrowers. Upon and after the Closing Date, Borrowers do not propose to engage in any business other than the marketing, distribution and sale of fuels, lubricants and specialty chemical products and related services (including risk management programs) and activities necessary to conduct the foregoing, and other ancillary and related businesses and activities. On the Closing Date, each Borrower will own all the property and possess all material rights and Consents necessary for the conduct of the business of such Borrower.

Appears in 1 contract

Samples: Security Agreement (Maxum Petroleum Holdings, Inc.)

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Business and Property of Borrowers. Upon and after the Closing Date, Borrowers do not propose to engage in any business other than the marketing, distribution providing security services and sale of fuels, lubricants and specialty chemical products and related services (including risk management programs) and activities necessary to conduct the foregoing, and other ancillary and related businesses and activities. On the Closing Date, each Borrower will own all the property and possess all material of the rights and Consents necessary for the conduct of the business of such Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (Compudyne Corp)

Business and Property of Borrowers. Upon and after the Closing Date, Borrowers do not propose to engage in any business businesses other than the marketingas information technology systems integrators, distribution providing consulting, staffing application services and sale of fuelsinfrastructures solutions and businesses reasonably related thereto, lubricants and specialty chemical products and related services (including risk management programs) and activities necessary to conduct the foregoing, and other ancillary and related businesses and activities. On the Closing Date, each Borrower will own all the property and possess all material of the rights and Consents necessary for the conduct of the business of such Borrower.

Appears in 1 contract

Samples: Security Agreement (Emtec Inc/Nj)

Business and Property of Borrowers. Upon and after the Closing Date, Borrowers do not propose to engage in any business other than the marketingprovision of goods and business services in the areas of digital and photographic imaging, distribution retouching, premedia, large format displays and sale printing and production of fuels, lubricants prototypes and specialty chemical products and related services (including risk management programs) designs and activities necessary to conduct the foregoing, and other ancillary and related businesses and activities. On the Closing Date, each Borrower will own all the property and possess all material of the rights and Consents necessary for the conduct of the business of such Borrower.

Appears in 1 contract

Samples: Security Agreement (Merisel Inc /De/)

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Business and Property of Borrowers. Upon and after the Closing Date, Borrowers do not propose to engage in any business other than the marketing, distribution providing information technology consulting system integration and sale of fuels, lubricants implementation and specialty chemical products and related outsourced application management services (including risk management programs) and activities necessary to conduct the foregoing, and other ancillary and related businesses and activities. On the Closing Date, each Borrower will own all the property and possess all material of the rights and Consents necessary for the conduct of the business of such Borrower, except where the failure to own such property or possess such rights and Consents could not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Security Agreement (Intelligroup Inc)

Business and Property of Borrowers. Upon and after the Closing Date, Borrowers do not propose to engage in any business other than the marketingmanufacturing, distribution distributing, marketing and sale of fuelsvitamins, lubricants and specialty chemical nutritional supplements, herbal products, food products and related services (including risk management programs) fine natural chemicals and other similar products, and activities necessary or advisable to conduct the foregoing, and other ancillary and related businesses and activities. On the Closing Date, each Borrower will own all the property and possess all material of the rights and Consents necessary for the conduct of the business of such BorrowerBorrower as of the Closing Date.

Appears in 1 contract

Samples: Security Agreement (Integrated Biopharma Inc)

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