Common use of Maintenance of Property and Leases Clause in Contracts

Maintenance of Property and Leases. Each Covered Person shall maintain in good condition and working order, and repair and replace as required, all buildings, equipment, machinery, fixtures and other real and personal property whose useful economic life has not elapsed and which is necessary for the ordinary conduct of the business of such Covered Person. Each Covered Person shall maintain in good standing and free of defaults all of its leases of buildings, equipment, machinery, fixtures and other real and personal property whose useful economic life has not elapsed and which is necessary for the ordinary conduct of the business of such Covered Person. Borrower shall not permit any of its equipment or other property to become a fixture to real property or an accession to other personal property unless Lender has a valid, perfected and first priority Lien in such real or personal property. Borrower will not, without Lender's prior written consent, alter or remove any identifying symbol or number on its equipment.

Appears in 1 contract

Samples: Loan Agreement (Davel Communications Group Inc)

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Maintenance of Property and Leases. Each Covered Person shall maintain in good condition and working order, and repair and replace as required, all buildings, equipment, machinery, fixtures and other real and personal property whose useful economic life has not elapsed and which is necessary for the ordinary conduct of the business of such Covered Person. Each Covered Person shall maintain in good standing and free of defaults all of its leases of buildings, equipment, machinery, fixtures and other real and personal property whose useful economic life has not elapsed and which is necessary for the ordinary conduct of the business of such Covered Person. Borrower No Covered Person shall not permit any of its equipment or other property to become a fixture to real property or an accession to other personal property unless Lender Administrative Agent has a valid, perfected and first priority Lien Security Interest for the benefit of Lenders in such real or personal property. Borrower will notNo Covered Person shall, without LenderAdministrative Agent's prior written consent, alter or remove any identifying symbol or number on its equipment.

Appears in 1 contract

Samples: Credit Agreement (Davel Communications Group Inc)

Maintenance of Property and Leases. Each Covered Person shall maintain in good condition and working order, and repair and replace as required, all buildings, equipment, machinery, fixtures and other real and personal property whose useful economic life has not elapsed and which is necessary for the ordinary conduct of the business of such Covered Person. Each Covered Person shall maintain in good standing and free of defaults all of its leases of buildings, equipment, machinery, fixtures and other real and personal property whose useful economic life has not elapsed and which is necessary for the ordinary conduct of the business of such Covered Person. Borrower shall not permit any of its equipment or other property to become a fixture to real property or an accession to other personal property unless Lender has a valid, perfected and first priority Lien Security Interest in such real or personal property. Borrower will shall not, without Lender's prior written consent, alter or remove any identifying symbol or number on its equipment.

Appears in 1 contract

Samples: Loan Agreement (Labarge Inc)

Maintenance of Property and Leases. Each Covered Person shall maintain in good condition and working order, and repair and replace as required, all buildings, equipment, machinery, fixtures and other real and personal property whose useful economic life has not elapsed and which is necessary for the ordinary conduct of the business of such Covered Person. Each Covered Person shall maintain in good standing and free of defaults all of its leases of buildings, equipment, machinery, fixtures and other real and personal property whose useful economic life has not elapsed and which is necessary for the ordinary conduct of the business of such Covered Person. Borrower shall not permit any of its equipment or other property to become a fixture to real property or an accession to other personal property unless Lender has a valid, perfected and first priority Lien Security Interest in such real or personal property. Borrower will not, without Lender's prior written consent, alter or remove any identifying symbol or number on its equipment.

Appears in 1 contract

Samples: Loan Agreement (Young Innovations Inc)

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Maintenance of Property and Leases. Each Covered Person shall maintain in good condition and working order, and repair and replace as required, all buildings, equipment, machinery, fixtures and other real and personal property whose useful economic life has not elapsed and which is necessary for the ordinary conduct of the business of such Covered Person. Each Covered Person shall maintain in good standing and free of defaults all of its leases of buildings, equipment, machinery, fixtures and other real and personal property whose useful economic life has not elapsed and which is necessary for the ordinary conduct of the business of such Covered Person. Borrower shall not permit any of its equipment or other property to become a fixture to real property or an accession to other personal property unless Lender has a valid, perfected and first priority Lien Security Interest in such real or personal property. Borrower will shall not, without Lender's prior written consent, alter or remove any identifying symbol or number on its equipment.

Appears in 1 contract

Samples: Loan Agreement (Intrav Inc)

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