Common use of COLLATERAL, ETC Clause in Contracts

COLLATERAL, ETC. The Grantor shall maintain each material item of Collateral in the same condition, repair and working order as when acquired, ordinary wear and tear excepted, and in accordance with any manufacturer’s manual, and shall as quickly as practicable provide all maintenance, service and repairs necessary for such purpose and shall promptly furnish to the Lenders a statement respecting any material loss or damage to any material portion of the Collateral.

Appears in 3 contracts

Sources: Purchase Money Security Agreement, Purchase Money Security Agreement (Knology Inc), Purchase Money Security Agreement (Knology Inc)