Rolling Stock definition
Examples of Rolling Stock in a sentence
Each Loan Party will, and will cause each of its Restricted Subsidiaries to, maintain all of its tangible property necessary and useful in the conduct of its business, taken as a whole, in good operating condition and repair (or, in the case of Inventory and Rolling Stock that constitutes Collateral, in saleable, useable or rentable condition), except where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect.
As to each item of Rolling Stock that is identified by Administrative Borrower as Eligible Non-Rental Rolling Stock in a Borrowing Base Certificate submitted to Agent, at the time of inclusion in such Borrowing Base Certificate, such Rolling Stock is not excluded as ineligible by virtue of one or more of the excluding criteria (other than any Agent-discretionary criteria) set forth in the definition of Eligible Non-Rental Rolling Stock Equipment.
Each Loan Party keeps correct and accurate, in all material respects, records itemizing and describing the type, quality, and quantity of its and its Subsidiaries’ Inventory and Rolling Stock and the book value thereof.