Properties and Operations Clause Samples
Properties and Operations. Borrower shall, and shall cause Bank, to maintain their respective material buildings, equipment and other fixed and operating assets in good condition and repair, subject only to normal wear and use; and Lender shall have the right to inspect the same at all reasonable times from time to time, and the assets of Borrower and Bank, respectively, maintained therein. Borrower shall, and shall cause Bank to, carry on and conduct its business in substantially the same manner and in substantially the same fields as such business is now carried on and conducted, and use its best efforts to maintain, preserve and renew all rights, powers, privileges and franchises which continue to be advantageous to Borrower or Bank. For the avoidance of doubt, this Section 6.5 does not prevent Borrower or Bank from expanding its business or entering into new markets either de novo or by acquisition, consistent with past practice and its other obligations under the Loan Documents.
Properties and Operations. Borrower shall continuously operate its Owensboro Facility and actively pursue use and development of the Intellectual Property and shall also maintain its material plants, equipment, warehouses including, without limitation, the Real Property Collateral, and other fixed and operating assets in good condition and repair, subject only to normal wear and use; and Lender shall have the right to inspect the same from time to time, and the assets of Borrower maintained therein. Borrower shall not substantially change the basic nature of its business as presently conducted at the Owensboro Facility without the prior written consent of Lender, provided such consent is not unreasonably withheld or delayed. Borrower shall disclose to Lender any substantial change anticipated in the manner in which its businesses are now operated, prior to such changes becoming effective.