Common use of Compliance with Law and Other Agreements Clause in Contracts

Compliance with Law and Other Agreements. Except where the failure to do so would not materially adversely affect any Borrower's operations, properties, financial condition or its ability to fulfill its obligations under the Loan Documents, each Borrower shall maintain its business operations and property owned or used in connection therewith in compliance with (a) all applicable federal, state and local laws, regulations and ordinances governing such business operations and the use and ownership of such property, and (b) all agreements, licenses, franchises, indentures and mortgages to which each Borrower is a party or by which each Borrower or any of its properties is bound. Without limiting the foregoing, each Borrower shall pay all of its indebtedness promptly in accordance with the terms thereof.

Appears in 2 contracts

Samples: Pledge and Security Agreement (Dreams Inc), Pledge and Security Agreement (Dreams Inc)

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Compliance with Law and Other Agreements. Except where the failure to do so would not materially adversely affect any a Borrower's operations, properties, financial condition or its ability to fulfill its obligations under the Loan Documents, each Borrower shall maintain its business operations and property owned or used in connection therewith in compliance with (a) all applicable federal, state and local laws, regulations and ordinances governing such business operations and the use and ownership of such property, and (b) all agreements, licenses, franchises, indentures and mortgages to which each Borrower is a party or by which each Borrower or any of its properties is bound. Without limiting the foregoing, each Borrower shall pay all of its indebtedness promptly in accordance with the terms thereof.

Appears in 1 contract

Samples: Loan Agreement (Imtek Office Solutions Inc)

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