Common use of Licenses Clause in Contracts

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any License.

Appears in 19 contracts

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

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Licenses. Keep each material License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Obligors and Subsidiaries in full force and effect; , promptly notify Agent of any proposed material modification to any such License, or entry into any new material License, in each case at least 30 10 days prior to its effective date; pay all Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any such material License, except where such default or breach could not reasonably be expected to have a Material Adverse Effect.

Appears in 8 contracts

Samples: First Lien Loan and Security Agreement (Duckhorn Portfolio, Inc.), Loan and Security Agreement (Bespoke Capital Acquisition Corp), First Lien Loan and Security Agreement (Duckhorn Portfolio, Inc.)

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties when duein the Ordinary Course of Business; and notify Agent of any default or breach asserted by any Person to have occurred under any material License.

Appears in 7 contracts

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

Licenses. Keep each License which constitutes a Material Contract affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Obligors and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new LicenseLicense which constitutes a Material Contract, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent of any material default or breach asserted in writing by any Person to have occurred under any LicenseLicense which constitutes a Material Contract.

Appears in 4 contracts

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

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers and its Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any License.

Appears in 4 contracts

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

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties royalties and other amounts when duedue under any License; and notify Agent of any default or breach asserted by any Person to have occurred under any License.

Appears in 4 contracts

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

Licenses. Keep each material License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) Inventory or any other material Property of Borrowers Credit Parties and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such material License, or entry into any new material License, in each case at least 30 days prior to its effective datedate (or such shorter period as Agent may allow); pay all material Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any material License.

Appears in 4 contracts

Samples: Loan and Security Agreement (Capella Healthcare, Inc.), Loan Agreement (Capella Healthcare, Inc.), Loan and Security Agreement (Lawton Surgery Investment Company, LLC)

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers each Obligated Party and its Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any License.

Appears in 3 contracts

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

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers and Subsidiaries in full force and effect; promptly notify Agent of any proposed material modification to any such License, or entry into any new License, in each case at least no more than 30 days prior to after its effective date; and pay all Royalties when due, except if the failure to do so could not reasonably be expected to have a Material Adverse Effect; and notify Agent of any material default or breach asserted by any Person to have occurred under any License.

Appears in 3 contracts

Samples: Credit and Security Agreement (Titan International Inc), Credit and Security Agreement (Titan International Inc), Credit and Security Agreement (Titan International Inc)

Licenses. Keep each License affecting any Collateral Inventory (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers and Subsidiaries in full force and effect; promptly once every 120 days, notify Agent of any proposed modification modifications to any such LicenseLicenses, or entry into any new License, in each case at least 30 days prior to its effective dateLicenses affecting any Inventory; pay all Royalties under such Licenses when due; and notify Agent of any default or breach asserted by any Person to have occurred under any such License.

Appears in 3 contracts

Samples: Loan and Security Agreement (Clearwater Paper Corp), Loan and Security Agreement (Potlatch Forest Products CORP), Loan and Security Agreement (Clearwater Paper Corp)

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Parent and its Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties royalties and other amounts when duedue under any License; and notify Agent of any default or breach asserted by any Person to have occurred under any License.

Appears in 2 contracts

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

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers and Subsidiaries in full force and effecteffect unless the failure to maintain such License could not reasonably be expected to have a Material Adverse Effect; promptly notify Agent of any proposed material modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any License.

Appears in 2 contracts

Samples: Loan and Security Agreement (Houston Wire & Cable CO), Loan and Security Agreement (Houston Wire & Cable CO)

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Borrower and Subsidiaries in full force and effect; promptly notify Agent Lender of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent Lender of any default or breach asserted by any Person to have occurred under any License.

Appears in 2 contracts

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

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any License.

Appears in 2 contracts

Samples: Loan, Security and Guaranty Agreement (Transport America, Inc.), Loan, Security and Guaranty Agreement (Transport America, Inc.)

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Obligors and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any License.

Appears in 2 contracts

Samples: Loan and Security Agreement (South Texas Supply Company, Inc.), Loan and Security Agreement (McJunkin Red Man Holding Corp)

Licenses. Keep each material License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Obligors and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such material License, or entry into any new material License, in each case at least 30 days prior to its effective date; pay all Royalties and other amounts when duedue under any material License; and notify Agent of any default or breach asserted by any Person to have occurred under any material License.

Appears in 2 contracts

Samples: Loan and Security Agreement (Hydrofarm Holdings Group, Inc.), Loan and Security Agreement (Hydrofarm Holdings Group, Inc.)

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers and Subsidiaries in full force and effect, except as would not have a Material Adverse Effect; promptly notify Agent of any proposed material modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any License, except as would not have a Material Adverse Effect.

Appears in 2 contracts

Samples: Loan and Security Agreement (AGY Holding Corp.), Loan and Security Agreement (AGY Holding Corp.)

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Parent and its Subsidiaries in full force and effect; promptly notify Collateral Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Collateral Agent of any default or breach asserted by any Person to have occurred under any License.

Appears in 2 contracts

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

Licenses. Keep each License which constitutes a Material Contract affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Obligors and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new LicenseLicense which constitutes a Material Contract, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any LicenseLicense which constitutes a Material Contract.

Appears in 2 contracts

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

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties royalties and other amounts when duedue under any License; and notify Agent of any default or breach asserted by any Person to have occurred under any License, in each case, except as could not reasonably be expected to result in a Material Adverse Effect.

Appears in 2 contracts

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

Licenses. Keep each material License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers and Subsidiaries in full force and effect; promptly notify Agent Lender of any proposed modification to any such License, or entry into any new material License, in each case at least 30 10 days prior to its effective date; pay all Royalties when due; and notify Agent Lender of any default or breach asserted by any Person to have occurred under any such License.

Appears in 2 contracts

Samples: Loan and Security Agreement (LIVE VENTURES Inc), Loan and Security Agreement (LIVE VENTURES Inc)

Licenses. Keep each License which constitutes a Material Contract affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Obligors and Subsidiaries Subsidiaries, including any Intellectual Property, in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new LicenseLicense which constitutes a Material Contract, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent of any material default or breach asserted in writing by any Person to have occurred under any LicenseLicense which constitutes a Material Contract.

Appears in 1 contract

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

Licenses. Keep each License affecting necessary for the maintenance or use of any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of the Borrowers and Subsidiaries in full force and effecteffect (or a reasonable substitute or replacement therefor); promptly notify the Agent of any proposed modification to any such License, or entry into any new License, in each case License at least 30 days prior to its effective date; pay all Royalties when due; and notify the Agent of any material default or breach asserted by any Person to have occurred under any such License.

Appears in 1 contract

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

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Borrower and Subsidiaries Affiliate Guarantor in full force and effect; promptly notify Agent Lender of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent Lender of any default or breach asserted by any Person to have occurred under any License.

Appears in 1 contract

Samples: Loan and Security Agreement (First Aviation Services Inc)

Licenses. Keep each material License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new material License, in each case at least 30 days prior to its effective date; pay all Royalties royalties and other amounts when duedue under any License; and notify Agent of any default or breach asserted by any Person to have occurred under any material License.. ​ ​ ​

Appears in 1 contract

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

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) Inventory or any other material Property of Borrowers Obligors and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties royalties and other amounts when duedue under any License; and notify Agent of any default or breach asserted by any Person to have occurred under any License.

Appears in 1 contract

Samples: Loan, Guaranty and Security Agreement (SMART Global Holdings, Inc.)

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition Disposition of Inventory) or any other material Property of Borrowers the Loan Parties and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any License.

Appears in 1 contract

Samples: Credit Agreement (Wausau Paper Corp.)

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties royalties and other amounts when duedue under any License; and notify Agent of any default or breach asserted by any Person to have occurred under any License.. 10.1.9

Appears in 1 contract

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

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Parent and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties royalties and other amounts when duedue under any License; and notify Agent of any default or breach asserted by any Person to have occurred under any License.

Appears in 1 contract

Samples: Loan and Security Agreement (Mynd.ai, Inc.)

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Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Borrower and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties royalties and other amounts when duedue under any License; and notify Agent of any default or breach asserted by any Person to have occurred under any License.

Appears in 1 contract

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

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers and Subsidiaries in full force and effect; promptly notify Agent Lender of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent Lender of any default or breach asserted by any Person to have occurred under any License.

Appears in 1 contract

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

Licenses. Keep each License which constitutes a Material Contract affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Loan Parties and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new LicenseLicense which constitutes a Material Contract, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any LicenseLicense which constitutes a Material Contract.

Appears in 1 contract

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

Licenses. Keep each License affecting any material Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Borrower and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new material License, in each case at least 30 days prior to its effective date; pay all Royalties when duedue which are in excess of $50,000 in the aggregate for all Licenses affecting Collateral; and notify Agent of any default or breach asserted by any Person to have occurred under any material License.

Appears in 1 contract

Samples: Loan and Security Agreement (Hines Horticulture Inc)

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers the Loan Parties and Subsidiaries in full force and effect; promptly notify Agent Lender of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent Lender of any default or breach asserted by any Person to have occurred under any License.

Appears in 1 contract

Samples: Loan and Security Agreement (Craftmade International Inc)

Licenses. Keep each License affecting any material Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Obligors and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new material License, in each case at least 30 days prior to its effective datedate (or such shorter period as Agent may allow); pay all Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any material License.

Appears in 1 contract

Samples: Loan and Security Agreement (Installed Building Products, Inc.)

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) in any material respect or any other material Property of Borrowers and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any License.

Appears in 1 contract

Samples: Loan and Security Agreement (Northwest Pipe Co)

Licenses. Keep each License materially affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Obligors and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any License.

Appears in 1 contract

Samples: Loan and Security Agreement (Spherion Corp)

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property real or personal property of Borrowers Obligors and Subsidiaries in full force and effecteffect except to the extent the failure to do so could not reasonably be expected to have a Material Adverse Effect; promptly notify Administrative Agent of any proposed modification to any such License, or entry into any new material License, in each case at least 30 15 days prior to its effective date; pay all material Royalties when due; and notify Administrative Agent of any default or breach asserted by any Person to have occurred under any material License.

Appears in 1 contract

Samples: Loan and Security Agreement (Core Scientific, Inc./Tx)

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Parent and its Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any License.

Appears in 1 contract

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

Licenses. Keep each License affecting material to any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers and Subsidiaries in full force and effect; promptly notify Agent of any proposed material modification to any such License, or entry into any new material License, in each case at least 30 days prior to its effective date; pay all Royalties when duedue except where the failure to do so could not reasonably be expected to have a Material Adverse Effect; and notify Agent of any material default or breach asserted by any Person to have occurred under any License.

Appears in 1 contract

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

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property property of Borrowers Borrower and its Subsidiaries in full force and effect; promptly notify Agent Lender of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties royalties, fees, expense reimbursement and other amounts payable under any License when due; and notify Agent Lender of any default or breach asserted by any Person to have occurred under any License.

Appears in 1 contract

Samples: Loan and Security Agreement (Advanced Environmental Recycling Technologies Inc)

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Obligor and Subsidiaries in full force and effect; promptly notify Agent of any material proposed modification to any such License, or entry into any new material License, in each case at least 30 days prior to its effective date; pay all Royalties royalties and other amounts when duedue under any material License; and notify Agent of any default or breach asserted by any Person to have occurred under any material License.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Infinera Corp)

Licenses. Keep each material License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Borrower and its Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new material License, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any License.

Appears in 1 contract

Samples: Loan and Security Agreement (Merix Corp)

Licenses. Keep each material License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers and Subsidiaries (excluding the Gramercy Assets) in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new material License, in each case at least 30 days prior to its effective datedate (or such lesser time as agreed to by Agent); pay all Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any material License.

Appears in 1 contract

Samples: Loan and Security Agreement (Imperial Sugar Co /New/)

Licenses. Keep each material License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such material License, or entry into any material new License, in each case at least 30 ten (10) days prior to its effective date; pay all Royalties when duedue unless being Properly Contested; and notify Agent of any default or breach asserted by any Person to have occurred under any material License.

Appears in 1 contract

Samples: Loan and Security Agreement (Kemet Corp)

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers and Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 thirty (30) days prior to its effective date; pay all Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any License.

Appears in 1 contract

Samples: Loan and Security Agreement (Arctic Cat Inc)

Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Parent and its Subsidiaries in full force and effect; promptly notify Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any License.

Appears in 1 contract

Samples: Loan and Security Agreement (Americas Carmart Inc)

Licenses. Keep each material License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers Obligors and Subsidiaries in full force and effect; , promptly notify Agent of any proposed material modification to any such License, or entry into any new material License, in each case at least 30 10 days prior to its effective date; pay all Royalties when due; and notify Agent of any default or breach asserted by any Person to have occurred under any such material License, 108 except where such default or breach could not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: First Lien Loan and Security Agreement (Duckhorn Portfolio, Inc.)

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