Common use of Maintenance of Equipment Clause in Contracts

Maintenance of Equipment. The Borrower shall maintain all physical property that constitutes Equipment in good and workable condition in all material respects, with reasonable allowance for wear and tear, and shall exercise proper custody over all such property.

Appears in 8 contracts

Samples: Loan and Security Agreement (Freedom Financial Group Inc), Loan and Security Agreement (International Comfort Products Corp), Loan and Security Agreement (Airport Systems International Inc)

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Maintenance of Equipment. The Borrower shall will maintain all physical property that constitutes each item of Equipment in good and workable condition in all material respectsoperating condition, with reasonable allowance for ordinary wear and teartear and immaterial impairments of value and damage by the elements excepted, and shall exercise proper custody over will provide all maintenance, service and repairs necessary for such propertypurpose.

Appears in 8 contracts

Samples: Security Agreement (Intellinetics, Inc.), Security Agreement (Bridgeline Digital, Inc.), Security Agreement (Inergetics Inc)

Maintenance of Equipment. The Borrower shall Debtor will maintain all physical property that constitutes each item of Equipment in good and workable condition in all material respectsoperating condition, with reasonable allowance for ordinary wear and teartear and immaterial impairments of value and damage by the elements excepted, and shall exercise proper custody over will provide all maintenance, service and repairs necessary for such propertypurpose except where the failure to maintain such Equipment could not reasonably be expected to have a Material Adverse Effect.

Appears in 7 contracts

Samples: Security Agreement (Access Pharmaceuticals Inc), Security Agreement (Axs One Inc), Security Agreement (Virtual Piggy, Inc.)

Maintenance of Equipment. The Borrower shall Debtor will maintain all physical property that constitutes each item of Equipment in good and workable condition in all material respectsoperating condition, with reasonable allowance for ordinary wear and teartear and immaterial impairments of value and damage by the elements excepted, and shall exercise proper custody over will provide all maintenance, service and repairs necessary for such propertypurpose.

Appears in 3 contracts

Samples: Loan Agreement (Natural Gas Services Group Inc), Modification Agreement (Natural Gas Services Group Inc), Security Agreement (TMBR Sharp Drilling Inc)

Maintenance of Equipment. The Borrower shall will maintain all physical property that constitutes each item of its Equipment and each of its Motor Vehicles in good and workable condition in all material respectsnormal operating condition, with reasonable allowance for ordinary wear and teartear excepted, and shall exercise proper custody over will timely make or cause to be made all such propertynecessary repairs, replacements, and other improvements in connection therewith.

Appears in 2 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement

Maintenance of Equipment. The Each Borrower shall will maintain all physical property that constitutes each item ------------------------ of Equipment in good and workable condition in all material respectsoperating condition, with reasonable allowance for ordinary wear and teartear and immaterial impairments of value and damage by the elements excepted, and shall exercise proper custody over will provide all maintenance, service and repairs necessary for such propertypurpose.

Appears in 2 contracts

Samples: Security Agreement (Mac-Gray Corp), Security Agreement (Mac-Gray Corp)

Maintenance of Equipment. The Borrower shall Debtor will maintain all physical property that constitutes each item of Equipment in good and workable condition in all material respectsoperating condition, with reasonable allowance for ordinary wear and teartear and immaterial impairments of value and damage by the elements excepted, and shall exercise proper custody over will provide all maintenance, service and repairs necessary for such propertypurpose except where the failure to maintain such Equipment could not reasonably be expected to have a material adverse effect.

Appears in 2 contracts

Samples: Security Agreement (Edac Technologies Corp), Security Agreement (Iwt Tesoro Corp)

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Maintenance of Equipment. The Borrower shall will maintain all physical property that constitutes each item of ------------------------ Equipment in good and workable condition in all material respectsoperating condition, with reasonable allowance for ordinary wear and teartear and immaterial impairments of value and damage by the elements excepted, and shall exercise proper custody over will provide all maintenance, service and repairs necessary for such propertypurpose.

Appears in 1 contract

Samples: Loan and Security Agreement (Sizzler International Inc)

Maintenance of Equipment. The Borrower shall will maintain all physical property that constitutes each material item of Equipment constituting Collateral in good and workable condition in all material respectsoperating condition, with reasonable allowance for ordinary wear and teartear and immaterial impairments of value and damage by the elements excepted, and shall exercise proper custody over will provide all maintenance, service and repairs necessary for such propertypurpose, except to the extent that the failure to do any of the foregoing would not be reasonably expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Borrower Security Agreement (Raci Holding Inc)

Maintenance of Equipment. The Borrower shall keep and maintain all physical property that constitutes Equipment the equipment in good operating condition and workable condition in all material respects, with reasonable allowance for repair (ordinary wear and teartear excepted), and shall exercise proper custody over make all such propertynecessary replacements thereto to maintain equipment in good operating condition, except for property which, in the good faith of Borrower, may no longer be profitably employed in the business of Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Millbrook Press Inc)

Maintenance of Equipment. The Borrower shall keep and maintain all physical property that constitutes the Equipment in good operating condition and workable condition in all material respects, with reasonable allowance for repair (ordinary wear and teartear excepted), and make all necessary replacements thereto so that the value and operating efficiency thereof shall exercise proper custody over at all such propertytimes be maintained and preserved.

Appears in 1 contract

Samples: Loan and Security Agreement (Childrens Place Retail Stores Inc)

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