Common use of Condition of Equipment Clause in Contracts

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 17 contracts

Samples: Loan and Security Agreement (P&f Industries Inc), Loan and Security Agreement (Ashworth Inc), Loan and Security Agreement (P&f Industries Inc)

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Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower Obligor shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Obligor shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 8 contracts

Samples: Loan and Security Agreement (Summer Infant, Inc.), Loan and Security Agreement (Summer Infant, Inc.), Term Loan and Security Agreement (Summer Infant, Inc.)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 5 contracts

Samples: Loan and Security Agreement (Agilysys Inc), Loan and Security Agreement (Standard Register Co), Loan and Security Agreement (Alon USA Energy, Inc.)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall not permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 5 contracts

Samples: Loan and Security Agreement (Lapolla Industries Inc), Loan Agreement (Ashworth Inc), Loan and Security Agreement (Lapolla Industries Inc)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs (in the business judgment of the Borrowers) have been made so that the value and operating efficiency of the Equipment is preserved at all timesmade, reasonable wear and tear exceptedexcluded. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 4 contracts

Samples: Loan and Security Agreement (Olympic Steel Inc), Loan and Security Agreement (Olympic Steel Inc), Loan and Security Agreement (Olympic Steel Inc)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Borrowers shall not permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 4 contracts

Samples: Loan and Security Agreement (Americas Carmart Inc), Loan and Security Agreement (Americas Carmart Inc), Loan and Security Agreement (Americas Carmart Inc)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien WaiverWaiver or an appropriate Rent and Charges Reserve has been established with respect thereto.

Appears in 4 contracts

Samples: Loan and Security Agreement (Conns Inc), Loan and Security Agreement (Conns Inc), Loan and Security Agreement (Conns Inc)

Condition of Equipment. The Equipment is in good satisfactory operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear wear, tear, casualty and tear condemnation excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 3 contracts

Samples: Loan and Security Agreement (Commercial Vehicle Group, Inc.), Loan and Security Agreement (Commercial Vehicle Group, Inc.), Loan and Security Agreement (Commercial Vehicle Group, Inc.)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer the manufacturer’s published and recommended specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien WaiverWaiver or similar instrument.

Appears in 3 contracts

Samples: Loan and Security Agreement (Modtech Holdings Inc), Loan and Security Agreement (EMAK Worldwide, Inc.), Loan and Security Agreement (Chromcraft Revington Inc)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower Obligor shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Obligor shall permit any Equipment to become affixed to real Property unless any such Obligor uses its commercially reasonable efforts to have the applicable landlord or mortgagee delivers deliver a Lien Waiver.

Appears in 3 contracts

Samples: Guaranty and Security Agreement (Turtle Beach Corp), Loan, Guaranty and Security Agreement (Parametric Sound Corp), Loan, Guaranty and Security Agreement (Parametric Sound Corp)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien WaiverProperty.

Appears in 3 contracts

Samples: Loan and Security Agreement (Radiant Logistics, Inc), Loan and Security Agreement (Radiant Logistics, Inc), Loan and Security Agreement (Radiant Logistics, Inc)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, excepted except as could not reasonably be expected to result in accordance with manufacturer specificationsa Material Adverse Effect. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 3 contracts

Samples: Loan Agreement (School Specialty Inc), Loan Agreement (School Specialty Inc), Loan Agreement (School Specialty Inc)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs (in the business judgment of Borrowers) have been made so that the value and operating efficiency of the Equipment is preserved at all timesmade, reasonable wear and tear exceptedexcluded. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 2 contracts

Samples: Loan and Security Agreement (Olympic Steel Inc), Loan and Security Agreement (Olympic Steel Inc)

Condition of Equipment. The Equipment is shall be maintained in good operating condition and repair, and all necessary replacements and repairs have been shall be made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property Real Estate unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 2 contracts

Samples: Credit Agreement (Covenant Transportation Group Inc), Credit Agreement (Covenant Transportation Group Inc)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the its value and operating efficiency of the Equipment is are preserved at all times, reasonable wear and tear excepted. Each Borrower shall take commercially reasonable steps to ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property Real Estate unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 2 contracts

Samples: Loan and Security Agreement (Orion Energy Systems, Inc.), Loan and Security Agreement (Orion Energy Systems, Inc.)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the its value and operating efficiency of the Equipment is are preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property Real Estate unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 2 contracts

Samples: Loan and Security Agreement (Super Micro Computer, Inc.), Loan and Security Agreement (Super Micro Computer, Inc.)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer the manufacturer's published and recommended specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien WaiverWaiver or similar instrument.

Appears in 2 contracts

Samples: Loan and Security Agreement (Bairnco Corp /De/), Loan and Security Agreement (WHX Corp)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower Except where failure to do so would not reasonably be expected to result in a Material Adverse Effect, each Obligor shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer the manufacturer’s published and recommended specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 2 contracts

Samples: Loan and Security Agreement (Bon Ton Stores Inc), Second Lien Loan and Security Agreement (Bon Ton Stores Inc)

Condition of Equipment. The All material Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the all material Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 2 contracts

Samples: Loan and Security Agreement (Blyth Inc), Term Loan and Security (Blyth Inc)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the its value and operating efficiency of the Equipment is are preserved at all times, reasonable wear and tear excepted. Each Borrower Obligor shall ensure that the Equipment is mechanically and structurally soundsound in all material respects, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Obligor shall permit any Equipment to become affixed to real Property Real Estate unless any such Obligor uses its commercially reasonable efforts to have the applicable landlord or mortgagee delivers deliver a Lien Waiver.

Appears in 2 contracts

Samples: Loan, Guaranty and Security Agreement (Turtle Beach Corp), Guaranty and Security Agreement (Turtle Beach Corp)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall use commercially reasonable efforts to ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 2 contracts

Samples: Loan and Security Agreement (Us Concrete Inc), Loan and Security Agreement (U.S. Concrete, Inc.)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower Obligor shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Obligor shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiverlien waiver.

Appears in 1 contract

Samples: Loan and Security Agreement (Summer Infant, Inc.)

Condition of Equipment. The Eligible Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property owned by another Person unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 1 contract

Samples: Loan and Security Agreement (Frozen Food Express Industries Inc)

Condition of Equipment. The Each Obligor shall ensure that its Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower Obligor shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Obligor shall permit any Equipment to become affixed to real Property Real Estate unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 1 contract

Samples: Loan, Security and Guaranty Agreement (Hyster-Yale Materials Handling, Inc.)

Condition of Equipment. The Equipment is in good operating condition and repairrepair in all material respects, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver, in each case, in all material respects.

Appears in 1 contract

Samples: Loan, Security and Guarantee Agreement (National CineMedia, Inc.)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the its value and operating efficiency of the Equipment is are preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property Real Estate unless any landlord or mortgagee delivers a Lien Waiver.. 8.5

Appears in 1 contract

Samples: Loan and Security Agreement (Super Micro Computer, Inc.)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver., if requested by Agent. Table of Contents

Appears in 1 contract

Samples: Loan and Security Agreement (Monaco Coach Corp /De/)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower Loan Party shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Loan Party shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 1 contract

Samples: Loan and Security Agreement (Craftmade International Inc)

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Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the its value and operating efficiency of the Equipment is are preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 1 contract

Samples: Guaranty and Security Agreement (BIG 5 SPORTING GOODS Corp)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property Real Estate unless any landlord or mortgagee delivers a Lien WaiverWaiver or an appropriate rent reserved has been established with respect thereto.

Appears in 1 contract

Samples: Loan and Security Agreement (Conns Inc)

Condition of Equipment. The Equipment is and will remain in good operating condition and repair, and all necessary replacements and repairs have been and will be made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 1 contract

Samples: Loan and Security Agreement (Xplore Technologies Corp)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the its value and operating efficiency of the Equipment is are preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.8.5

Appears in 1 contract

Samples: Guaranty and Security Agreement (Key Tronic Corp)

Condition of Equipment. The Each Obligor shall ensure that its Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower Obligor shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Obligor shall permit any Equipment to become affixed to real Property Real Estate unless any landlord or mortgagee delivers a Lien Waiver.. 126

Appears in 1 contract

Samples: Loan, Security and Guaranty Agreement (Hyster-Yale Materials Handling, Inc.)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.. ​

Appears in 1 contract

Samples: Loan and Security Agreement (Adara Acquisition Corp.)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value marketability and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications, if any. No Borrower shall not permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 1 contract

Samples: Loan and Security Agreement (Hines Horticulture Inc)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Sport Chalet Inc)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall, and shall cause its Subsidiaries to, ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 1 contract

Samples: Loan and Security Agreement (Steinway Musical Instruments Inc)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower Obligor shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Obligors shall not permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 1 contract

Samples: Loan and Security Agreement (Americas Carmart Inc)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment included in the Borrowing Base to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 1 contract

Samples: Credit Agreement (Armstrong Flooring, Inc.)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 1 contract

Samples: Loan and Security Agreement (Sport Chalet Inc)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the its value and operating efficiency of the Equipment is are preserved at all times, reasonable wear and tear excepted. Each Borrower Obligor shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Obligor shall permit any Equipment to become affixed to real Property Real Estate unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Infinera Corp)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the its value and operating efficiency of the Equipment is preserved are maintained at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property Real Estate unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 1 contract

Samples: Loan and Security Agreement (Servicesource International, Inc.)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Except to the extent that failure to do so could not be reasonably expected to have a Material Adverse Effect, each Borrower shall ensure that the Equipment is mechanically and structurally soundsound in all material respects, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Inari Medical, Inc.)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower Guarantor shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Guarantor shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Merix Corp)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.

Appears in 1 contract

Samples: Loan and Security Agreement (Vizio Holding Corp.)

Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the its value and operating efficiency of the Equipment is are preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally soundsound in all material respects, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property Real Estate unless any such Obligor uses its commercially reasonable efforts to have the applicable landlord or mortgagee delivers deliver a Lien Waiver.

Appears in 1 contract

Samples: Guaranty and Security Agreement (ArcLight Clean Transition Corp.)

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