Insurance; Storage of Consigned Inventory Sample Clauses

Insurance; Storage of Consigned Inventory. During the Consignment Period the Consigned Inventory will be stored only at the locations set forth on Schedule 2.5 hereto (collectively, the "Permitted Locations"). At all times from the date hereof through the later of the expiration of the Consignment Period and the full performance by Sub of its obligations under this Article II, Sub shall obtain and maintain, at its sole cost and expense, such casualty and other insurance as MCM shall require from one or more insurance carriers satisfactory to MCM, in an amount not less than the aggregate "Total Original Cost" of the serialized Consigned Inventory as set forth on Schedule 2.1 hereto plus the total amount of Flat-Rate Payments to be made pursuant to Section 2.2(a)(iii). Each of such policies shall (a) name MCM as an additional named insured and loss payee; (b) provide that it may not be terminated or amended without thirty (30) days' prior written notice to MCM; and (c) provide that it is primary to any other valid and collectible insurance policies applicable to MCM and/or the Consigned Inventory and is not subject to contribution. Concurrently herewith, and from time to time at MCM's request hereafter, Sub shall deliver to MCM evidence that such insurance policies are in full force and effect, and a certificate of insurance naming MCM as an additional named insured and loss payee.
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Related to Insurance; Storage of Consigned Inventory

  • Inventory To the extent Inventory held for sale or lease has been produced by any Borrower, it has been and will be produced by such Borrower in accordance with the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations and orders thereunder.

  • Inventory and Equipment On the date hereof, the Inventory and the Equipment (other than mobile goods) are kept at the locations listed on Schedule 5.

  • Location of Equipment and Inventory All Equipment and Inventory are (i) located at the locations indicated on Schedule 4 (ii) in transit to such locations or (iii) in transit to a third party purchaser which will become obligated on a Receivable to the Debtor upon receipt. Except for Equipment and Inventory referred to in clauses (ii) and (iii) of the preceding sentence, the Debtor has exclusive possession and control of the Inventory and Equipment.

  • Equipment and Inventory With respect to any Equipment and/or Inventory of an Obligor, each such Obligor has exclusive possession and control of such Equipment and Inventory of such Obligor except for (i) Equipment leased by such Obligor as a lessee or (ii) Equipment or Inventory in transit with common carriers. No Inventory of an Obligor is held by a Person other than an Obligor pursuant to consignment, sale or return, sale on approval or similar arrangement.

  • As to Equipment and Inventory The Grantor hereby agrees that it shall

  • Accounts Receivable; Inventory (a) For each Account with respect to which Advances are requested, on the date each Advance is requested and made, such Account shall be an Eligible Account.

  • Merchantable Inventory All Inventory is in all material respects of good and marketable quality, free from all material defects.

  • Returned Inventory If an Account Debtor has an authorized return and returns any Inventory covered by such return to such Grantor when no Event of Default exists, then such Grantor shall promptly determine the reason for such return and shall issue a credit memorandum to the Account Debtor in the appropriate amount. Such Grantor shall deliver a monthly report to the Administrative Agent setting forth all such returns involving an amount in excess of $10,000,000. Each such report shall indicate the reasons for the returns and the locations and condition of the returned Inventory. In the event any Account Debtor returns Inventory to such Grantor when an Event of Default exists, such Grantor, upon the request of the Administrative Agent, shall: (i) hold the returned Inventory in trust for the Administrative Agent; (ii) dispose of the returned Inventory solely according to the Administrative Agent’s written instructions; and (iii) not issue any credits or allowances with respect thereto in an amount exceeding $500,000 in the aggregate during any Fiscal Month without the Administrative Agent’s prior written consent. All returned Inventory shall be subject to the Administrative Agent’s Liens thereon. Whenever any Inventory is returned, the related Account shall be deemed ineligible to the extent of the amount owing by the Account Debtor with respect to such returned Inventory and such returned Inventory shall not be Eligible Inventory unless such Inventory constitutes Third Party Logistics Goods.

  • Location of Inventory and Equipment The Inventory and Equipment are not stored with a bailee, warehouseman, or similar party (without Foothill's prior written consent) and are located only at the locations identified on Schedule 6.12 or otherwise permitted by Section 6.12.

  • Property and Equipment (a) The Company has good and valid title to, or in the case of leased property has valid leasehold interests in, all property and assets (whether real or personal, tangible or intangible) reflected on the Balance Sheet or acquired after the Balance Sheet Date. None of such properties or assets is subject to any Liens, except:

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