Common use of COLLATERAL USE Clause in Contracts

COLLATERAL USE. The Collateral shall be kept in good order and repair and Debtor will not permit waste or do anything to impair the value of the Collateral or any part thereof or use or permit others to use the Collateral in violation of any insurance policy covering the collateral or any statute, ordinance or state federal regulation. Debtor shall give Bank immediate written notice of any damage, destruction, theft, loss or the occurrence of any event which impairs the value of the Collateral.

COLLATERAL USE. The Collateral shall be kept in good order and repair and Debtor will not permit waste or do anything to impair the value of the Collateral or any part thereof thereof, reasonable wear and tear excepted, or use or permit others to use the Collateral in violation of any insurance policy covering the collateral Collateral or any statute, ordinance or state or federal regulation. Debtor shall give Bank Lender immediate written notice of any damage, destruction, theft, loss or the occurrence of any event which materially impairs the value of the Collateral.

COLLATERAL USE. The Collateral shall be kept in good order and repair and Debtor will not permit waste or do anything to impair the value of the Collateral or any part thereof or use or permit others to use the Collateral in material violation of any insurance policy covering the collateral Collateral or any statute, ordinance or state or federal regulation. Debtor shall give Bank Secured Party immediate written notice of any damage, destruction, theft, loss or the occurrence of any event which impairs the value of the Collateral.