Common use of Maintenance and Use of Collateral Clause in Contracts

Maintenance and Use of Collateral. The Company, at the Company's expense, shall keep the Collateral consisting of tangible personal property in good order and condition and shall make all necessary or appropriate repairs, replacements and renewals thereof, interior, exterior, structural and non-structural, ordinary and extraordinary, foreseen and unforeseen. The Company shall not do, or permit to be done, any act or thing which might materially impair the value or usefulness of the Collateral or any part thereof, shall not commit or permit any waste of the Collateral or any part thereof, and shall not permit any unlawful occupation, business or trade involving the Collateral to be conducted.

Appears in 3 contracts

Samples: Security Agreement (Guitammer Co), Security Agreement (Guitammer Co), Security Agreement (Guitammer Co)

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Maintenance and Use of Collateral. The Company, at the Company's expense, shall keep the Collateral, or cause the Collateral consisting of tangible personal property to be kept, in good order and condition condition, ordinary wear and tear excepted, and shall make all necessary or appropriate repairs, replacements and renewals thereof, interior, exterior, structural and non-structural, ordinary and extraordinary, foreseen and unforeseen. The Company shall not do, or permit to be done, any act or thing which might materially impair the value or usefulness of the Collateral or any part thereof, shall not commit or permit any waste of the Collateral or any part thereof, and shall not permit any unlawful occupation, business or trade involving the Collateral to be conducted.

Appears in 1 contract

Samples: Security Agreement

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Maintenance and Use of Collateral. The Company, at the Company's its expense, shall keep the Collateral, or cause the Collateral consisting of tangible personal property to be kept, in good order and condition condition, ordinary wear and tear excepted, and shall make all necessary or appropriate repairs, replacements and renewals thereof, interior, exterior, structural and non-structural, ordinary and extraordinary, foreseen and unforeseen. The Company shall not do, or permit to be done, any act or thing which might materially impair the value or usefulness of the Collateral or any part thereof, shall not commit or permit any waste of the Collateral or any part thereof, and shall not permit any unlawful occupation, business or trade involving the Collateral to be conducted.

Appears in 1 contract

Samples: Security Agreement (PAV Republic, Inc.)

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