Common use of Maintenance of Equipment Clause in Contracts

Maintenance of Equipment. The Loan Parties’ 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. No Loan Party shall use or operate its Equipment in violation in any material respect of any law, statute, ordinance, code, rule or regulation.

Appears in 12 contracts

Samples: Security Agreement (Quantum Corp /De/), Term Loan Credit and Security Agreement (Quantum Corp /De/), Revolving Credit and Security Agreement (Quantum Corp /De/)

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Maintenance of Equipment. The All Equipment used or useful in the conduct of any Loan Parties’ Equipment Party’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 mademade so that the value and operating efficiency of such Equipment shall be maintained and preserved (reasonable wear and tear excepted). No Each Loan Party shall use or operate its any Equipment in violation in any material respect compliance with Section 4.8. No Loan Party shall sell or otherwise Dispose of any lawof its Equipment, statute, ordinance, code, rule or regulationexcept to the extent set forth in Section 7.1.

Appears in 4 contracts

Samples: Credit and Security Agreement (Primo Water Corp), Loan and Security Agreement (American Outdoor Brands, Inc.), Loan and Security Agreement (Primo Water Corp)

Maintenance of Equipment. The Loan Parties’ 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 mademade so that the value and operating efficiency of its Equipment shall be maintained and preserved. No Loan Party shall use or operate its Equipment in violation in any material respect of any law, statute, ordinance, code, rule or regulation, to the extent such violation could reasonably be expected to result in a Material Adverse Effect.

Appears in 4 contracts

Samples: Security Agreement (Williams Industrial Services Group Inc.), Security Agreement (Williams Industrial Services Group Inc.), Security Agreement (Williams Industrial Services Group Inc.)

Maintenance of Equipment. The Loan Parties’ 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 mademade so that the value and operating efficiency of the equipment shall be maintained and preserved. No Loan Party shall use or operate its Equipment the equipment in violation violation, in any material respect respect, of any law, statute, ordinance, code, rule or regulation.

Appears in 3 contracts

Samples: Security Agreement (Asv Holdings, Inc.), Security Agreement (A.S.V., LLC), Security Agreement (Manitex International, Inc.)

Maintenance of Equipment. The equipment of Loan Parties’ Equipment Parties shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be mademade so that the value and operating efficiency of the equipment shall be maintained and preserved. No Loan Party shall use or operate its Equipment equipment in material violation in of any material respect of any law, statute, ordinance, code, rule or regulation.

Appears in 2 contracts

Samples: And (Babcock & Wilcox Enterprises, Inc.), Security Agreement (Babcock & Wilcox Enterprises, Inc.)

Maintenance of Equipment. The equipment of Loan Parties’ Equipment Parties shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be mademade so that the value and operating efficiency of the equipment shall be maintained and preserved. No Loan Party shall use or operate its Equipment equipment in material violation in of any material respect of any law, statute, ordinance, code, rule or regulation. 4.11.

Appears in 2 contracts

Samples: Guaranty and Security Agreement (Babcock & Wilcox Enterprises, Inc.), Guaranty and Security Agreement (Babcock & Wilcox Enterprises, Inc.)

Maintenance of Equipment. The Except for Equipment Disposed of in accordance with the terms hereof, equipment of Loan Parties’ Equipment Parties shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be mademade so that the value and operating efficiency of the equipment shall be maintained and preserved. No Loan Party shall use or operate its Equipment equipment in violation in any material respect of any law, statute, ordinance, code, rule or regulation.

Appears in 2 contracts

Samples: Guaranty and Security Agreement (Dasan Zhone Solutions Inc), Guaranty and Security Agreement (Dasan Zhone Solutions Inc)

Maintenance of Equipment. The Loan Parties’ 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 mademade so that the operating efficiency of the Equipment shall be maintained and preserved. No Loan Party shall use or operate its the Equipment in material violation in any material respect of any law, statute, ordinance, code, rule or regulation. Each Loan Party shall have the right to sell Equipment to the extent set forth in Section 4.3 hereof.

Appears in 2 contracts

Samples: Security Agreement (Stream Global Services, Inc.), Security Agreement (Stream Global Services, Inc.)

Maintenance of Equipment. The Loan Parties’ 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 mademade so that the operating use of the equipment shall be maintained and preserved in all material respects. No Loan Party shall use or operate its Equipment the equipment in violation violation, in any material respect respect, of any law, statute, ordinance, code, rule or regulation.

Appears in 1 contract

Samples: Version Term Loan and Security Agreement (Redfin Corp)

Maintenance of Equipment. The Each Loan Parties’ Party shall maintain its Equipment shall be maintained in good operating condition and repair in substantial accordance with industry standards (reasonable wear and tear excepted) and shall make all necessary replacements of and repairs thereto so that the value and operating efficiency of such Equipment shall be mademaintained and preserved. No Loan Party shall use or operate its the Equipment in violation in any material respect of any law, statute, ordinance, code, rule or regulation.

Appears in 1 contract

Samples: Credit and Security Agreement (Sifco Industries Inc)

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Maintenance of Equipment. The Each Loan Parties’ Equipment Party shall be maintained maintain its equipment in good operating condition and repair in substantial accordance with industry standards (reasonable wear and tear excepted) and shall make all necessary replacements of and repairs thereto so that the value and operating efficiency of such equipment shall be mademaintained and preserved in the ordinary course of such Loan Party’s business. No Loan Party shall use or operate its Equipment equipment in material violation in any material respect of any law, statute, ordinance, code, rule or regulation.

Appears in 1 contract

Samples: Credit and Security Agreement (Ramaco Resources, Inc.)

Maintenance of Equipment. The Each Loan Parties’ Party shall maintain its Equipment shall be maintained in good operating condition and repair in substantial accordance with industry standards (reasonable wear and tear excepted) and shall make all necessary replacements of and repairs thereto so that the value and operating efficiency of such Equipment shall be mademaintained and preserved in the ordinary course of such Loan Party’s business. No Loan Party shall use or operate its the Equipment in material violation in any material respect of any law, statute, ordinance, code, rule or regulation.

Appears in 1 contract

Samples: Credit and Security Agreement (Ramaco Resources, Inc.)

Maintenance of Equipment. The Loan Parties’ 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, provided that no Loan Party shall have any obligation to maintain, replace or repair Equipment that is not reasonably deemed by such Loan Party to be necessary in the conduct of such Loan Party's business. No Loan Party shall use or operate its the Equipment in violation in any material respect of any law, statute, ordinance, code, rule or regulation.

Appears in 1 contract

Samples: Security Agreement (General Finance CORP)

Maintenance of Equipment. The Each Loan Parties’ Party shall maintain its Equipment shall be maintained in good operating condition and repair in substantial accordance with industry standards (reasonable wear and tear and casualty excepted) and shall make all necessary replacements of and repairs thereto so that the value and operating efficiency of such Equipment shall be mademaintained and preserved. No Loan Party shall use or operate its the Equipment in material violation in of any material respect of any law, statute, ordinance, code, rule or regulation.

Appears in 1 contract

Samples: Credit and Security Agreement (CVSL Inc.)

Maintenance of Equipment. The All material Equipment used or useful in the conduct of any Loan Parties’ Equipment Party’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 mademade so that the value and operating efficiency of such Equipment shall be maintained and preserved (reasonable wear and tear excepted). No Each Loan Party shall use or operate its any Equipment in violation in any material respect compliance with Section 4.8. No Loan Party shall sell or otherwise Dispose of any lawof its Equipment, statute, ordinance, code, rule or regulationexcept to the extent permitted by under Section 7.1.

Appears in 1 contract

Samples: Loan and Security Agreement (Castle a M & Co)

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