Use; Maintenance. Borrower, at its expense, shall (i) maintain the Collateral in good condition, reasonable wear and tear excepted, and will comply in all material respects with all laws, rules and regulations regarding use and operation of the Collateral and (ii) repair or replace any lost or damaged Collateral.
Appears in 14 contracts
Samples: Loan and Security Agreement (Foundation Medicine, Inc.), Secured Promissory Note (Kythera Biopharmaceuticals Inc), Loan and Security Agreement (Kior Inc)
Use; Maintenance. Each Borrower, at its expense, shall (i) maintain the Collateral in good condition, reasonable wear and tear excepted, and will comply in all material respects with all laws, rules and regulations regarding use and operation of the Collateral and (ii) repair or replace any lost or damaged CollateralCollateral or otherwise use any insurance proceeds with respect to the Collateral to purchase or acquire property necessary for such Borrower’s business.
Appears in 3 contracts
Samples: Share Pledge Agreement, Share Pledge Agreement (Zipcar Inc), Share Pledge Agreement (Zipcar Inc)
Use; Maintenance. Borrower, at its expense, shall (i) maintain the Collateral in good condition, reasonable wear and tear excepted, and will comply in all material respects with all laws, rules and regulations regarding use and operation of the Collateral and (ii) repair or replace any lost or damaged CollateralCollateral or otherwise use any insurance proceeds to purchase or acquire property necessary for Borrower’s business.
Appears in 2 contracts
Samples: Loan and Security Agreement (Cerulean Pharma Inc.), Loan and Security Agreement (Cerulean Pharma Inc.)
Use; Maintenance. Borrower, at its expense, shall (i) maintain the Collateral in good condition, reasonable wear and tear excepted, and will comply in all material respects with all laws, rules and regulations regarding use and operation of the Collateral and (ii) repair or replace any lost or damaged Collateral, reasonable wear and tear excepted.
Appears in 2 contracts
Samples: Loan and Security Agreement (Kior Inc), Loan and Security Agreement (Kior Inc)
Use; Maintenance. Borrower, at its expense, shall (i) maintain the Collateral in good condition, reasonable wear and tear excepted, and will comply in all material respects with all laws, rules and regulations regarding use and operation of the Collateral and (ii) repair or replace any lost or damaged Collateral; provided that, Borrower may sell inventory in the ordinary course of business and may dispose of worn out or obsolete equipment.
Appears in 1 contract
Samples: Loan and Security Agreement (Restore Medical, Inc.)
Use; Maintenance. Each Borrower, at its expense, shall (i) maintain the Collateral in good condition, reasonable wear and tear excepted, and will comply in all material respects with all laws, rules and regulations regarding use and operation of the Collateral and (ii) repair or replace any lost or damaged CollateralCollateral or otherwise use any insurance proceeds to purchase or acquire property necessary for such Borrower’s business.
Appears in 1 contract
Samples: Share Pledge Agreement (Zipcar Inc)
Use; Maintenance. Borrower, at its expense, shall (i) maintain the Collateral in good condition, reasonable wear and tear excepted, and will comply in all material respects with all laws, rules and regulations regarding use and operation of the Collateral and (ii) repair or replace any lost or damaged Collateral, other than Collateral that is obsolete or worthless at the time of loss or damage and other than Collateral that Borrower determines in good faith is not necessary or useful in the conduct of its business.
Appears in 1 contract
Use; Maintenance. Borrower, at its expense, shall (i) maintain the Collateral in good condition, reasonable wear and tear excepted, and will comply in all material respects with all laws, rules and regulations regarding use and operation of the Collateral and (ii) repair or replace any lost or damaged CollateralCollateral as required in the normal course of business.
Appears in 1 contract
Samples: Loan and Security Agreement (NxStage Medical, Inc.)
