Common use of Good Condition Clause in Contracts

Good Condition. The Borrower and its Subsidiaries will maintain their assets and their respective Inventory, Equipment and other properties in good condition and repair (normal wear and tear excepted), and will pay and discharge or cause to be paid and discharged when due, the cost of repairs to or maintenance of the same, and will pay or cause to be paid all rental or mortgage payments due on such Equipment or real property. The Borrower hereby agrees that, in the event it or any Subsidiary fails to pay or cause to be paid any such payment, the Agent may do so on behalf of the Banks after notice to the Borrower and be reimbursed by the Borrower therefor.

Good Condition. The Borrower and its Subsidiaries will maintain their assets and their respective Inventory, Equipment Equipment, Real Property and other properties in good condition and repair (normal wear and tear excepted), and will pay and discharge or cause to be paid and discharged when due, the cost of repairs to or maintenance of the same, and will pay or cause to be paid all rental or mortgage payments due on such Equipment or real propertyReal Property. The Borrower hereby agrees that, in the event it or any Subsidiary fails to pay or cause to be paid any such payment, the Agent Banks may do so on behalf of the Banks after notice to the Borrower and be reimbursed by the Borrower therefor.