Common use of Covenants Concerning Collateral, Etc Clause in Contracts

Covenants Concerning Collateral, Etc. The Debtor further covenants with the Secured Party as follows: (a) the Collateral, to the extent not delivered to the Secured Party pursuant to Section 4, will be kept at those locations listed on Schedule A and the Debtor will not move any Collateral to any location not shown in Schedule A without providing at least thirty (30) days prior written notice to the Secured Party, which notice shall include the new location, (b) except for the security interest herein granted and liens permitted by the Bond Lease, the Debtor shall be the owner of the Collateral free from any right or claim of any other person, lien, security interest or other encumbrance, and the Debtor shall defend the same against all claims and demands of all persons at any time claiming the same or any interests therein adverse to the Secured Party, (c) the Debtor shall not pledge, mortgage or create, or suffer to exist any right of any person in or claim by any person to the Collateral, or any security interest, lien or encumbrance in the Collateral in favor of any person, other than the Secured Party except for liens permitted by the Bond Lease, (d) the Debtor will keep the Collateral in good order and repair and will not use the same in violation of law or any policy of insurance thereon, (e) the Debtor will permit the Secured Party, or its designee, to inspect and audit the Collateral at any reasonable time, wherever located, according to the terms of the Bond Lease, (f) the Debtor will pay promptly when due all taxes, assessments, governmental charges and levies upon the Collateral according to the terms of the Bond Lease or incurred in connection with the use or operation of such Collateral or incurred in connection with this Agreement, (g) the Debtor will continue to operate, its business in compliance with all applicable provisions of the federal Fair Labor Standards Act, as amended, and with all applicable provisions of federal, state and local statutes and ordinances dealing with the control, shipment, storage or disposal of hazardous materials or substances, (h) the Debtor will apply for all subsidies, price support payments, guaranty payments and other payments of any kind available to the Debtor under any federal, state or local governmental program relating to the use of corn to produce ethanol, the production of ethanol, the sale of ethanol and any other activities of the Debtor, will file for all tax credits and deductions available for any of the foregoing, and will take no action, or omit to take any action, which would preclude or jeopardize in any manner the Debtor’s ability to participate in any such payments, programs, tax credits or deductions and (i) the Debtor will not the Debtor will not discount, factor, sell or otherwise dispose, or offer to sell or otherwise dispose, of any of the Collateral, including, but not limited to, instruments, general intangibles, tangible or electronic chattel paper, promissory notes and/or accounts, or any interest therein except for (i) sales and leases of inventory in the ordinary course of business and (ii) so long as no Event of Default has occurred and is continuing, sales or other dispositions of obsolescent items of equipment consistent with past practices; provided, however, that permitted sales under this Section are also permitted under the Bond Lease. In the event that such sales are not permitted under the Bond Lease, then such sales are also not permitted hereunder. In addition, the Debtor will only store grain owned by the Debtor not evidenced by a Warehouse Receipt in facilities owned by the Debtor at locations set forth on Schedule A.

Covenants Concerning Collateral, Etc. The Each of the Parent and the Debtor further covenants with the Secured Party as follows: (a) the Collateral, to the extent not delivered to the Secured Party pursuant to Section 4, will be kept at those locations listed on Schedule A and the Debtor will not move any Collateral to any location not shown in Schedule A without providing at least thirty (30) days prior written notice to the Secured Party, which notice shall include the new location, (b) except for the security interest herein granted and liens permitted by the Bond Leasegranted, the Debtor shall be the owner of the Collateral free from any right or claim of any other person, lien, security interest or other encumbrance, and the Parent and the Debtor shall defend the same against all claims and demands of all persons at any time claiming the same or any interests therein adverse to the Secured Party, (cb) neither the Parent nor the Debtor shall not pledge, mortgage or create, or suffer to exist any right of any person in or claim by any person to the Collateral, or any security interest, lien or encumbrance in the Collateral in favor of any person, other than the Secured Party except for liens permitted by the Bond LeaseParty, (dc) the Parent and the Debtor will keep the Collateral in good order and repair (ordinary wear and tear excepted) and will not use the same in violation of law or any policy of insurance thereon, (ed) the Parent and the Debtor will permit the Secured Party, or its designee, to inspect and audit the Collateral at any reasonable time, wherever located, according to (e) the terms of the Bond Lease, (f) Parent and the Debtor will pay promptly when due all taxes, assessments, governmental charges and levies upon the Collateral according to the terms of the Bond Lease or incurred in connection with the use or operation of such Collateral or incurred in connection with this Agreement, (gf) the Parent and the Debtor will continue to operate, its operate the Debtor’s business in compliance with all applicable provisions of the federal Fair Labor Standards Act, as amended, and with all applicable provisions of federal, state and local statutes and ordinances dealing with the control, shipment, storage or disposal of hazardous materials or substances, and (hg) neither the Parent nor the Debtor will apply for all subsidies, price support payments, guaranty payments and other payments of any kind available to the Debtor under any federal, state or local governmental program relating to the use of corn to produce ethanol, the production of ethanol, the sale of ethanol and any other activities of the Debtor, will file for all tax credits and deductions available for any of the foregoing, and will take no action, or omit to take any action, which would preclude or jeopardize in any manner the Debtor’s ability to participate in any such payments, programs, tax credits or deductions and (i) the Debtor will not the Debtor will not discount, factor, sell or otherwise dispose, or offer to sell or otherwise dispose, of any of the Collateral, including, but not limited to, instruments, general intangibles, tangible or electronic chattel paper, promissory notes and/or accounts, Collateral or any interest therein except for (i) sales and leases of inventory in the ordinary course of business business, and (ii) so long as no Event of Default has occurred and is continuing, sales or other dispositions of obsolescent items of equipment consistent with past practices; provided, however, that permitted sales under this Section are also permitted under the Bond Lease. In the event that such sales are not permitted under the Bond Lease, then such sales are also not permitted hereunder. In addition, the Debtor will only store grain owned by the Debtor not evidenced by a Warehouse Receipt in facilities owned by the Debtor at locations set forth on Schedule A..

Covenants Concerning Collateral, Etc. The Debtor Each Pledgor further covenants with the Secured Party Lenders and the Administrative Agent as follows: (a) the Collateral, to the extent not delivered to the Secured Party pursuant to Section 4, will be kept at those locations listed on Schedule A and the Debtor will not move any Collateral to any location not shown in Schedule A without providing at least thirty (30) days prior written notice to the Secured Party, which notice shall include the new location, (b) except for the security interest herein granted granted, except for Permitted Liens and liens permitted by except as indicated on Schedule 7.3 to the Bond LeaseCredit Agreement, the Debtor each Pledgor shall be the owner of the Collateral free from any right or claim of any other person, lien, security interest person or other encumbranceany Lien, and the Debtor each Pledgor shall defend the same against all claims and demands of all persons at any time claiming the same or any interests therein adverse to the Secured PartyAdministrative Agent or any of the Lenders, (cb) except as otherwise permitted under the Debtor Credit Agreement, no Pledgor shall not pledge, mortgage or create, or suffer to exist any right of any person in or claim by any person to the Collateral, or any security interest, lien or encumbrance Lien in the Collateral in favor of any person, other than the Secured Party except for liens permitted by the Bond LeaseAdministrative Agent, (dc) each Pledgor will keep the Debtor Collateral in good order and repair and will not use the same in violation of law or any policy of insurance thereon and, with respect to the Collateral under lease pursuant to leases, each Pledgor will contractually provide in such leases that the lessees thereunder will keep the Collateral in good order and repair and will not use the same in violation of law or any policy of insurance thereon, (ed) the Debtor each Pledgor will permit the Secured PartyAdministrative Agent, or its designee, to inspect and audit the Collateral at any reasonable time, wherever located, according to located in accordance with the terms of and conditions set forth in the Bond LeaseCredit Agreement, (fe) the Debtor each Pledgor will pay promptly when due all taxes, assessments, governmental charges and levies upon the Collateral according to the terms of the Bond Lease or incurred in connection with the use or operation of such the Collateral or incurred in connection with this Credit Agreement in accordance with the terms and conditions set forth in the Credit Agreement, (gf) each Pledgor, in accordance with the Debtor terms and conditions set forth in the Credit Agreement, will continue to operate, operate its business in compliance with all applicable provisions of the federal Fair Labor Standards Act, as amended, and with all applicable provisions of federal, state and local statutes and ordinances dealing with the control, shipment, storage or disposal of hazardous materials or substances, (h) the Debtor will apply for all subsidies, price support payments, guaranty payments and other payments of any kind available to the Debtor under any federal, state or local governmental program relating to the use of corn to produce ethanol, the production of ethanol, the sale of ethanol and any other activities of the Debtor, will file for all tax credits and deductions available for any of the foregoing, and will take no action, or omit to take any action, which would preclude or jeopardize in any manner the Debtor’s ability to participate in any such payments, programs, tax credits or deductions and (ig) except as otherwise permitted under the Debtor Credit Agreement, no Pledgor will not the Debtor will not discount, factor, sell or otherwise dispose, or offer to sell or otherwise dispose, of any of the Collateral, including, but not limited to, instruments, general intangibles, tangible or electronic chattel paper, promissory notes and/or accounts, Collateral or any interest therein except for (i) sales and leases of inventory in the ordinary course of business and (ii) so long as no Event of Default has occurred and is continuing, sales or other dispositions of obsolescent items of equipment consistent with past practices; provided, however, that permitted sales under this Section are also permitted under the Bond Lease. In the event that such sales are not permitted under the Bond Lease, then such sales are also not permitted hereunder. In addition, the Debtor will only store grain owned by the Debtor not evidenced by a Warehouse Receipt in facilities owned by the Debtor at locations set forth on Schedule A.therein.

Covenants Concerning Collateral, Etc. The Debtor Borrower further covenants with the Secured Party Lender as follows: (a) the Collateral, to the extent not delivered to the Secured Party Lender pursuant to Section 4, will be kept at those locations listed on Schedule A 9(a) and the Debtor Borrower will not move any remove the Collateral to any location not shown in Schedule A from such locations, without providing at least thirty (30) 30 days prior written notice to the Secured Party, which notice shall include the new locationLender, (b) except for the security interest herein granted and liens permitted by the Bond LeaseCredit Agreement, the Debtor Borrower shall be the owner of the Collateral free from any right or claim of any other person, lien, security interest or other encumbrance, and the Debtor Borrower shall defend the same against all claims and demands of all persons at any time claiming the same or any interests therein adverse to the Secured PartyLender, (c) the Debtor Borrower shall not pledge, mortgage or create, or suffer to exist any right of any person in or claim by any person to the Collateral, or any a security interest, lien or encumbrance interest in the Collateral in favor of any person, person other than the Secured Party Lender except for liens permitted by the Bond LeaseCredit Agreement, (d) the Debtor Borrower will keep the Collateral in good order and repair and will not use the same in violation of law or any policy of insurance thereon, (e) the Debtor Borrower will permit the Secured PartyLender, or its designee, to inspect and audit the Collateral at any reasonable time, wherever located, according to the terms of the Bond Lease, (f) the Debtor Borrower will pay promptly when due all taxes, assessments, governmental charges and levies upon the Collateral according to the terms of the Bond Lease or incurred in connection with the use or operation of such Collateral or incurred in connection with this Agreement, (g) the Debtor Borrower will continue to operate, its business in compliance with all applicable provisions of the federal Fair Labor Standards Act, as amended, and with all applicable provisions of federal, state and local statutes and ordinances dealing with the control, shipment, storage or disposal of hazardous materials or substances, and (h) the Debtor will apply for all subsidies, price support payments, guaranty payments and other payments of any kind available to the Debtor under any federal, state or local governmental program relating to the use of corn to produce ethanol, the production of ethanol, the sale of ethanol and any other activities of the Debtor, will file for all tax credits and deductions available for any of the foregoing, and will take no action, or omit to take any action, which would preclude or jeopardize in any manner the Debtor’s ability to participate in any such payments, programs, tax credits or deductions and (i) the Debtor Borrower will not the Debtor will not discount, factor, sell or otherwise dispose, or offer to sell or otherwise dispose, of any of the Collateral, including, but not limited to, instruments, general intangibles, tangible or electronic chattel paper, promissory notes and/or accounts, Collateral or any interest therein except for (i) sales and leases of inventory and licenses of general intangibles in the ordinary course of business and (ii) so long as no Event of Default has occurred and is continuing, sales or other dispositions of obsolescent items of equipment in the ordinary course of business consistent with past practices; provided, however, that practices and permitted sales under this Section are also permitted under the Bond Lease. In the event that such sales are not permitted under the Bond Lease, then such sales are also not permitted hereunder. In addition, the Debtor will only store grain owned by the Debtor not evidenced by a Warehouse Receipt in facilities owned by the Debtor at locations set forth on Schedule A.Credit Agreement.

Covenants Concerning Collateral, Etc. The Debtor further covenants with the Secured Party as follows: (a) the Collateral, to the extent not delivered to the Secured Party pursuant to Section 44 or disposed of as permitted by the Loan Documents, will be kept at those locations listed on Schedule A the Perfection Certificate and the Debtor will not move any remove the Collateral to any location not shown in Schedule A from such locations, without providing at least thirty (30) days prior written notice to the Secured Party, which notice shall include the new location, (b) except for the security interest herein granted and liens permitted by the Bond LeasePermitted Liens, the Debtor shall be the owner of the Collateral free from any right or claim of any other person, lien, security interest or other encumbrance, and the Debtor shall defend the same against all claims and demands of all persons at any time claiming the same or any interests therein adverse to the Secured Party, (c) the Debtor shall not pledge, mortgage or create, or suffer to exist any right of any person in or claim by any person to the Collateral, or any security interest, lien or encumbrance in the Collateral in favor of any person, other than the Secured Party except for liens permitted by the Bond LeasePermitted Liens, (d) the Debtor will keep the Collateral in good order and repair in accordance with the applicable provisions of the Credit Agreement and will not use the same in violation of law or any policy of insurance thereon, (e) the Debtor will permit the Secured Party, or its designee, to inspect and audit the Collateral at any reasonable time, wherever located, according to in accordance with the terms applicable provisions of the Bond LeaseCredit Agreement, (f) the Debtor will pay promptly when due all taxes, assessments, governmental charges and levies upon the Collateral according to the terms of the Bond Lease or incurred in connection with the use or operation of such Collateral or incurred in connection with this Agreement, in accordance with the applicable provisions of the Credit Agreement, (g) the Debtor will continue to operate, its business in compliance with all applicable provisions of the federal Fair Labor Standards Act, as amended, and with all applicable provisions of federal, state and local statutes and ordinances dealing with the control, shipment, storage or disposal of hazardous materials or substances, in accordance with the applicable provisions of the Credit Agreement and (h) the Debtor will apply for all subsidies, price support payments, guaranty payments and other payments of any kind available to the Debtor under any federal, state or local governmental program relating to the use of corn to produce ethanol, the production of ethanol, the sale of ethanol and any other activities of the Debtor, will file for all tax credits and deductions available for any of the foregoing, and will take no action, or omit to take any action, which would preclude or jeopardize in any manner the Debtor’s ability to participate in any such payments, programs, tax credits or deductions and (i) the Debtor will not the Debtor will not discount, factor, sell or otherwise dispose, or offer to sell or otherwise dispose, of any of the Collateral, including, but not limited to, instruments, general intangibles, tangible or electronic chattel paper, promissory notes and/or accounts, Collateral or any interest therein except for (i) sales and leases of inventory and licenses of general intangibles in the ordinary course of business and business, (ii) so long as no Event of Default has occurred and is continuing, sales or other dispositions of obsolescent items of equipment consistent with past practices; provided, however, that practices dispositions and (iii) as otherwise permitted sales under this Section are also permitted under the Bond Lease. In the event that such sales are not permitted under the Bond Lease, then such sales are also not permitted hereunder. In addition, the Debtor will only store grain owned by the Debtor not evidenced by a Warehouse Receipt in facilities owned by the Debtor at locations set forth on Schedule A.Credit Agreement.

Covenants Concerning Collateral, Etc. The Debtor Each Pledgor further covenants with the Secured Party Lenders and the Agent as follows: (a) the Collateral, to the extent not delivered to the Secured Party pursuant to Section 4, will be kept at those locations listed on Schedule A and the Debtor will not move any Collateral to any location not shown in Schedule A without providing at least thirty (30) days prior written notice to the Secured Party, which notice shall include the new location, (b) except for the security interest herein granted granted, except for Permitted Liens and liens permitted by except as indicated on Schedule 7.3 to the Bond LeaseCredit Agreement, the Debtor each Pledgor shall be the owner of the Collateral free from any right or claim of any other person, lien, security interest person or other encumbranceany Lien, and the Debtor each Pledgor shall defend the same against all claims and demands of all persons at any time claiming the same or any interests therein adverse to the Secured PartyAgent or any of the Lenders, (cb) except as otherwise permitted under the Debtor Credit Agreement, no Pledgor shall not pledge, mortgage or create, or suffer to exist any right of any person in or claim by any person to the Collateral, or any security interest, lien or encumbrance Lien in the Collateral in favor of any person, other than the Secured Party except for liens permitted by the Bond LeaseAgent, (dc) each Pledgor will keep the Debtor Collateral in good order and repair and will not use the same in violation of law or any policy of insurance thereon and, with respect to the Collateral under lease pursuant to leases, each Pledgor will contractually provide in such leases that the lessees thereunder will keep the Collateral in good order and repair and will not use the same in violation of law or any policy of insurance thereon, (ed) the Debtor each Pledgor will permit the Secured PartyAgent, or its designee, to inspect and audit the Collateral at any reasonable time, wherever located, according to located in accordance with the terms of and conditions set forth in the Bond LeaseCredit Agreement, (fe) the Debtor each Pledgor will pay promptly when due all taxes, assessments, governmental charges and levies upon the Collateral according to the terms of the Bond Lease or incurred in connection with the use or operation of such the Collateral or incurred in connection with this Agreement in accordance with the terms and conditions set forth in the Credit Agreement, (gf) each Pledgor, in accordance with the Debtor terms and conditions set forth in the Credit Agreement, will continue to operate, operate its business in compliance with all applicable provisions of the federal Fair Labor Standards Act, as amended, and with all applicable provisions of federal, state and local statutes and ordinances dealing with the control, shipment, storage or disposal of hazardous materials or substances, (h) the Debtor will apply for all subsidies, price support payments, guaranty payments and other payments of any kind available to the Debtor under any federal, state or local governmental program relating to the use of corn to produce ethanol, the production of ethanol, the sale of ethanol and any other activities of the Debtor, will file for all tax credits and deductions available for any of the foregoing, and will take no action, or omit to take any action, which would preclude or jeopardize in any manner the Debtor’s ability to participate in any such payments, programs, tax credits or deductions and (ig) except as otherwise permitted under the Debtor Credit Agreement, no Pledgor will not the Debtor will not discount, factor, sell or otherwise dispose, or offer to sell or otherwise dispose, of any of the Collateral, including, but not limited to, instruments, general intangibles, tangible or electronic chattel paper, promissory notes and/or accounts, Collateral or any interest therein except for (i) sales and leases of inventory in the ordinary course of business and (ii) so long as no Event of Default has occurred and is continuing, sales or other dispositions of obsolescent items of equipment consistent with past practices; provided, however, that permitted sales under this Section are also permitted under the Bond Lease. In the event that such sales are not permitted under the Bond Lease, then such sales are also not permitted hereunder. In addition, the Debtor will only store grain owned by the Debtor not evidenced by a Warehouse Receipt in facilities owned by the Debtor at locations set forth on Schedule A.therein.

Covenants Concerning Collateral, Etc. The Debtor Each Pledgor further covenants with the Secured Party Lenders and the Administrative Agent as follows: (a) the Collateral, to the extent not delivered to the Secured Party pursuant to Section 4, will be kept at those locations listed on Schedule A and the Debtor will not move any Collateral to any location not shown in Schedule A without providing at least thirty (30) days prior written notice to the Secured Party, which notice shall include the new location, (b) except for the security interest herein granted granted, except for Permitted Liens and liens permitted by except as indicated on Schedule 7.3 to the Bond LeaseCredit Agreement, the Debtor each Pledgor shall be the owner of the Collateral free from any right or claim of any other person, lien, security interest person or other encumbranceany Lien, and the Debtor each Pledgor shall defend the same against all claims and demands of all persons at any time claiming the same or any interests therein adverse to the Secured PartyAdministrative Agent or any of the Lenders, (cb) except as otherwise permitted under the Debtor Credit Agreement, no Pledgor shall not pledge, mortgage or create, or suffer to exist any right of any person in or claim by any person to the Collateral, or any security interest, lien or encumbrance Lien in the Collateral in favor of any person, other than the Secured Party except for liens permitted by the Bond LeaseAdministrative Agent, (dc) each Pledgor will keep the Debtor Collateral in good order and repair and will not use the same in violation of law or any policy of insurance thereon and, with respect to the Collateral under lease pursuant to leases, each Pledgor will contractually provide in such leases that the lessees thereunder will keep the Collateral in good order and repair and will not use the same in violation of law or any policy of insurance thereon, (ed) the Debtor each Pledgor will permit the Secured PartyAdministrative Agent, or its designee, to inspect and audit the Collateral at any reasonable time, wherever located, according to located in accordance with the terms of and conditions set forth in the Bond LeaseCredit Agreement, (fe) the Debtor each Pledgor will pay promptly when due all taxes, assessments, governmental charges and levies upon the Collateral according to the terms of the Bond Lease or incurred in connection with the use or operation of such the Collateral or incurred in connection with this Agreement in accordance with the terms and conditions set forth in the Credit Agreement, (gf) each Pledgor, in accordance with the Debtor terms and conditions set forth in the Credit Agreement, will continue to operate, operate its business in compliance with all applicable provisions of the federal Fair Labor Standards Act, as amended, and with all applicable provisions of federal, state and local statutes and ordinances dealing with the control, shipment, storage or disposal of hazardous materials or substances, (h) the Debtor will apply for all subsidies, price support payments, guaranty payments and other payments of any kind available to the Debtor under any federal, state or local governmental program relating to the use of corn to produce ethanol, the production of ethanol, the sale of ethanol and any other activities of the Debtor, will file for all tax credits and deductions available for any of the foregoing, and will take no action, or omit to take any action, which would preclude or jeopardize in any manner the Debtor’s ability to participate in any such payments, programs, tax credits or deductions and (ig) except as otherwise permitted under the Debtor Credit Agreement, no Pledgor will not the Debtor will not discount, factor, sell or otherwise dispose, or offer to sell or otherwise dispose, of any of the Collateral, including, but not limited to, instruments, general intangibles, tangible or electronic chattel paper, promissory notes and/or accounts, Collateral or any interest therein except for (i) sales and leases of inventory in the ordinary course of business and (ii) so long as no Event of Default has occurred and is continuing, sales or other dispositions of obsolescent items of equipment consistent with past practices; provided, however, that permitted sales under this Section are also permitted under the Bond Lease. In the event that such sales are not permitted under the Bond Lease, then such sales are also not permitted hereunder. In addition, the Debtor will only store grain owned by the Debtor not evidenced by a Warehouse Receipt in facilities owned by the Debtor at locations set forth on Schedule A.therein.