Common use of Maintenance of Equipment Clause in Contracts

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 21 contracts

Samples: Security Agreement (Merisel Inc /De/), Security Agreement (Bio Reference Laboratories Inc), Security Agreement (Flotek Industries Inc/Cn/)

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Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall not use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 17 contracts

Samples: Security Agreement (TCP International Holdings Ltd.), Security Agreement (Hudson Technologies Inc /Ny), Security Agreement (P&f Industries Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 11 contracts

Samples: Security Agreement (Geokinetics Inc), Credit and Security Agreement (Akrion, Inc.), Security Agreement (Geokinetics Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower Borrowers shall not use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower Borrowers shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 5 contracts

Samples: Security Agreement (Intcomex, Inc.), Security Agreement (Franklin Electronic Publishers Inc), Security Agreement (Dreams Inc)

Maintenance of Equipment. The All material Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 5 contracts

Samples: Credit and Security Agreement (Green Plains Inc.), Credit and Security Agreement (Green Plains Inc.), Security Agreement (Green Plains Renewable Energy, Inc.)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 7.1(b) hereof.

Appears in 5 contracts

Samples: Credit and Security Agreement (ARKO Corp.), Credit and Security Agreement (ARKO Corp.), Credit and Security Agreement (ARKO Corp.)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall will not, and will not permit any Credit Party to, use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower and the other Credit Parties shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 4 contracts

Samples: Security Agreement (Perma Fix Environmental Services Inc), Security Agreement (Perma Fix Environmental Services Inc), Security Agreement (Perma Fix Environmental Services Inc)

Maintenance of Equipment. The Subject to the terms of Section 4.3, Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all reasonably necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall intentionally or knowingly use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 4 contracts

Samples: Security Agreement (Innovex Downhole Solutions, Inc.), Guaranty and Security Agreement (Innovex Downhole Solutions, Inc.), Guaranty and Security Agreement (Innovex Downhole Solutions, Inc.)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall not use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 4 contracts

Samples: Security Agreement (Champion Parts Inc), Security Agreement (Ante5, Inc.), Security Agreement (Robotic Vision Systems Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulationpreserved (reasonable wear and tear excepted). Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof4.3.

Appears in 3 contracts

Samples: Revolving Credit, Guaranty, and Security Agreement (Rocky Brands, Inc.), Guaranty, and Security Agreement (Rocky Brands, Inc.), , and Security Agreement (Rocky Brands, Inc.)

Maintenance of Equipment. The Equipment shall be maintained in ------------------------ good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 3 contracts

Samples: Revolving Credit and Security Agreement (Styrochem International LTD), Credit and Security Agreement (Styrochem International Inc), Air Methods Corp

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preservedpreserved in all material respects. No Borrower shall use or operate the Equipment in material violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 3 contracts

Samples: Security Agreement (UniTek Global Services, Inc.), Security Agreement (UniTek Global Services, Inc.), Credit and Security Agreement

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preservedpreserved in accordance with Borrowers' normal business practices. No Borrower shall use or operate the its Equipment in violation of any law, statute, ordinance, code, rule or regulation, except for violations which individually or in the aggregate could not reasonably be expected to have a Material Adverse Effect. Each Borrower shall have the right to sell its Equipment to the extent set forth in Section 4.3 hereof.

Appears in 2 contracts

Samples: Security Agreement (Richton International Corp), Security Agreement (Richton International Corp)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved). No Borrower shall not, nor shall Borrower permit or cause any of its Subsidiaries to, use or operate the Equipment in violation in any material respect of any law, statute, ordinance, code, rule or regulation. Each Borrower and each of its Subsidiaries, shall have the right to sell Equipment to the extent set forth in Section 4.3 7.1 hereof.

Appears in 2 contracts

Samples: Credit Agreement (Boot Barn Holdings, Inc.), Credit Agreement (Boot Barn Holdings, Inc.)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereofand to the extent not otherwise prohibited hereunder.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Comforce Corp), Security Agreement (Comforce Corp)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower Borrowers shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 2 contracts

Samples: Revolving Credit, Term Loan and Security Agreement (Tii Industries Inc), Credit and Security Agreement (Canisco Resources Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment preserved in violation of any law, statute, ordinance, code, rule or regulationall material respects. Each Borrower shall have the right to sell Equipment to the extent set forth permitted in Section 4.3 hereof.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (SMTC Corp), Security Agreement (SMTC Corp)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower and each of its Subsidiaries shall not use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right , unless such violation could not reasonably be expected to sell Equipment to the extent set forth result in Section 4.3 hereofa Material Adverse Effect.

Appears in 2 contracts

Samples: Credit and Security Agreement (Pc Connection Inc), Credit and Security Agreement (Pc Connection Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower The Loan Parties shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 2 contracts

Samples: Subordination Agreement (Twist Beauty S.a r.l. & Partners S.C.A.), Revolving Credit, Term Loan and Security Agreement (Twist Beauty S.a r.l. & Partners S.C.A.)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth permitted in Section 4.3 hereof.

Appears in 2 contracts

Samples: Security Agreement (SMTC Corp), Security Agreement (Avatech Solutions Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preservedpreserved (except for obsolete and worn-out Equipment which Borrower is attempting to dispose of under Section 4.3 hereof). No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 2 contracts

Samples: Revolving Credit (Allied Motion Technologies Inc), Term Loan and Security Agreement (Allied Motion Technologies Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment except to the extent set forth in Section 4.3 hereof.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (E Com Ventures Inc), Revolving Credit and Security Agreement (E Com Ventures Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or and operate the Equipment in violation of any law, statute, ordinance, code, rule or regulationmaterial compliance with all Applicable Law. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 2 contracts

Samples: Security Agreement (Lesco Inc/Oh), Revolving Credit and Security Agreement (Lesco Inc/Oh)

Maintenance of Equipment. The Equipment equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 2 contracts

Samples: Security Agreement (Quality Gold Holdings, Inc.), Loan and Security Agreement (Boomerang Systems, Inc.)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each The Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 2 contracts

Samples: Revolving Credit, Term Loan and Security Agreement (Tii Industries Inc), Tristar Corp

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 2 contracts

Samples: Security Agreement (Valuevision Media Inc), Term Loan Credit and Security Agreement (EVINE Live Inc.)

Maintenance of Equipment. The Equipment shall be maintained in good ------------------------ operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 2 contracts

Samples: Security Agreement (Intelligroup Inc), Air Methods Corp

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall will not, and will not permit any Other Credit Party, to use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower and the Other Credit Parties shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof4.3.

Appears in 1 contract

Samples: Security Agreement (Perma Fix Environmental Services Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Security Agreement (Signal Apparel Company Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall not use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation, except such violations which could not reasonably be expected to have a Material Adverse Effect. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof4.3.

Appears in 1 contract

Samples: Loan and Security Agreement (Atari Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall not use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Security Agreement (Candies Inc)

Maintenance of Equipment. The Equipment used in the ordinary course of Borrower's business shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall not use or operate the such Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof or Article VII hereof.

Appears in 1 contract

Samples: Security Agreement (Allstate Financial Corp /Va/)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall not use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulationregulation the violation of which would reasonably be expected to have a Material Adverse Effect. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Johnson Outdoors Inc)

Maintenance of Equipment. The Equipment equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment equipment shall be maintained and preserved. No Borrower The Borrowers shall use or operate the Equipment their equipment in violation of any law, statute, ordinance, code, rule or regulationcompliance in all material respects with Applicable Law. Each Borrower shall have the right to sell Equipment equipment to the extent expressly set forth in Section 4.3 hereof7.1.

Appears in 1 contract

Samples: Credit and Security Agreement (Virco MFG Corporation)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved, except if Borrower in its exercise of its business judgment determines that such replacements and repairs thereto should not be made. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Hirsch International Corp)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or and operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. material compliance with all Applicable Law.. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Security Agreement (Lesco Inc/Oh)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each No Borrower shall have the right to sell Equipment except to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Security Agreement (E Com Ventures Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair in substantial accordance with industry standards (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preservedreserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment regulation except to the extent set forth in Section 4.3 hereofthat such violation would not have a Material Adverse Effect.

Appears in 1 contract

Samples: Security Agreement (Imco Recycling Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulationpreserved (reasonable wear and tear excepted). Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereofsuch sale is a Permitted Disposition.

Appears in 1 contract

Samples: Security Agreement (Sypris Solutions Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower Corporation shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower The Corporations shall have the right to sell Equipment to the extent set forth in Section 4.3 2.3 hereof.

Appears in 1 contract

Samples: Warrant Agreement (Us Home & Garden Inc)

Maintenance of Equipment. The Subject to the limitations set forth in Section 6.5(c), the Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation in any material respect of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Security Agreement (Kitty Hawk Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preservedpreserved in all material respects. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Security Agreement (Katy Industries Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulationApplicable Law. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Security Agreement (Emtec Inc/Nj)

Maintenance of Equipment. The Equipment shall be maintained in good ------------------------ operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulationApplicable Law. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Eltrax Systems Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved). No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulationApplicable Law. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Security Agreement (Amrep Corp.)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower Borrowers shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Revolving Creditandsecurity Agreement (TCP International Holdings Ltd.)

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Maintenance of Equipment. The Except as set forth in Section 4.3, the Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall not, and will not permit Guarantor to, use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Credit and Security Agreement (Cold Metal Products Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall not use or operate the Equipment in material violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Security Agreement (Fonda Group Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in material violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof4.3.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Tecumseh Products Co)

Maintenance of Equipment. The material Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the material Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment constituting Collateral to the extent set forth in Section 4.3 hereof.. Revolving Credit and Security Agreement

Appears in 1 contract

Samples: Credit and Security Agreement (Horizon Offshore Inc)

Maintenance of Equipment. The Equipment shall be maintained in all material respects in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower The Borrowers shall use or and operate the Equipment in violation of any lawmaterial compliance with all applicable laws, statutestatutes, ordinanceordinances, codecodes, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereofrules and regulations.

Appears in 1 contract

Samples: Credit and Security Agreement (Foster L B Co)

Maintenance of Equipment. The Equipment equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment equipment shall be maintained and preserved. No Borrower The Borrowers shall use or operate the Equipment their equipment in violation of any law, statute, ordinance, code, rule or regulationcompliance in all material respects with Applicable Law. Each Borrower shall have the right to sell Equipment equipment to the extent expressly set forth in Section 4.3 hereof.7.1. 4.11

Appears in 1 contract

Samples: Credit and Security Agreement (Virco MFG Corporation)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in material violation of any law, statute, ordinance, code, rule or regulationApplicable Law. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Security Agreement (Intelligroup Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of material compliance with any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Security Agreement (Meridian Sports Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statutestatutes, ordinanceordinances, codecodes, rule rules or regulationregulations. Each Borrower Borrowers shall have the -45- 100 right to sell Equipment only to the extent set forth in Section 4.3 hereof4.3.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (General Datacomm Industries Inc)

Maintenance of Equipment. The Equipment utilized by the Borrower in the ordinary coursecourse of its business shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the such Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Security Agreement (Semx Corp)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall not use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each regulation except to the extent such violation could not reasonably be expected to have a Material Adverse Effect Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof4.3.

Appears in 1 contract

Samples: Security Agreement (Centurion Wireless Technologies Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved). No Borrower shall use or operate the Equipment in material violation of any law, statute, ordinance, code, rule or regulationApplicable Law. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof4.3.

Appears in 1 contract

Samples: Intercreditor Agreement (Empeiria Acquisition Corp)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall not use or operate the Equipment in material violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Security Agreement (Fonda Group Inc)

Maintenance of Equipment. The Equipment which is useful and necessary to Borrower’s business shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved, except for equipment which either individually or in the aggregate is not material. No Borrower shall not use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Security Agreement (Goodman Networks Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall not use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof. 4.18.

Appears in 1 contract

Samples: Credit, Term Loan And Security Agreement (Measurement Specialties Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation, except to the extent any such violation could not reasonably be expected to have a Material Adverse Effect. Each Borrower shall have the right to sell Equipment equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Security Agreement (Rheometric Scientific Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment preserved in violation of any law, statute, ordinance, code, rule or regulationall material respects. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Security Agreement (Skullcandy, Inc.)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulationregulation the violation of which would reasonably be expected to have a Material Adverse Effect. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Johnson Outdoors Inc)

Maintenance of Equipment. The Equipment shall be maintained in ------------------------ good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower and each of its Subsidiaries shall not use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right , unless such violation could not reasonably be expected to sell Equipment to the extent set forth result in Section 4.3 hereofa Material Adverse Effect.

Appears in 1 contract

Samples: Credit and Security Agreement (Pc Connection Inc)

Maintenance of Equipment. The Borrowers shall maintain the Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulationregulation if such violation could reasonably be expected to have a Material Adverse Effect. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof."

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Graham Field Health Products Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No The Borrower shall not use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Security Agreement (Horsehead Holding Corp)

Maintenance of Equipment. The Equipment which is material to the business described in Section 5.22 hereof shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the such material Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in material violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Security Agreement (Presstek Inc /De/)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section Sections 4.3 and 7.1 hereof.

Appears in 1 contract

Samples: Security Agreement (Pc Service Source Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof4.3.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Zanett Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment taken as a whole shall be maintained and preserved. No Borrower shall use or operate the Equipment in material violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Loan and Security Agreement (Lets Talk Cellular & Wireless Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation of any applicable law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Security Agreement (Integrated Biopharma Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preservedpreserved except with respect to Equipment which Borrowers have determined is obsolete or being taken out of service. No Borrower shall use or operate the Equipment in violation of any law, statute, ordinance, code, rule or regulation. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Loan and Security Agreement (Swenson Granite Co LLC)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved. No Borrower shall use or operate the Equipment in violation violation, in any material respect, of any law, statute, ordinance, code, rule or regulationApplicable Law. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Image Entertainment Inc)

Maintenance of Equipment. The Equipment shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of the Equipment shall be maintained and preserved). No Borrower shall use or operate the Equipment in material violation of any law, statute, ordinance, code, rule or regulationApplicable Law. Each Borrower shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 1 contract

Samples: Security Agreement (Empeiria Acquisition Corp)

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