Covenants of Grantors Clause Examples

Covenants of Grantors. Each Grantor hereby agrees that: (a) It shall take all action necessary to maintain and to perfect the Collateral Agent’s security interest on behalf of the related Secured Party in the Vehicle Collateral (other than with respect to the Initial Hertz Vehicles and the Service Vehicles) in which it has an interest now in existence and hereafter acquired or created, including, without limitation, the filing of any financing or continuation statements under the UCC in effect in any jurisdiction with respect to the liens and security interests granted hereunder. (b) At any time and from time to time, upon the written request of the Collateral Agent, and at its sole expense, it will promptly and duly execute and deliver any and all such further instruments and documents and take such further action as the Collateral Agent may reasonably deem desirable in obtaining the full benefits of this Collateral Agreement and of the rights and powers herein granted, including, without limitation, the filing of any financing or continuation statements under the UCC in effect in any jurisdiction with respect to the liens and security interests granted hereby. It also hereby authorizes the Collateral Agent to file any such financing or continuation statement, at its expense. If any amount payable under or in connection with any of the Vehicle Collateral shall be or become evidenced by any promissory note, chattel paper or other instrument, such note, chattel paper or instrument shall be deemed to be held in trust and promptly pledged to the Collateral Agent hereunder, and shall, subject to the rights of any Person in whose favor a prior Lien has been perfected, be duly endorsed in a manner satisfactory to the Collateral Agent and delivered to the Collateral Agent promptly. (c) It shall warrant and defend the Collateral Agent’s right, title and interest in and to the Vehicle Collateral in which it has an interest and the Proceeds thereof, for the benefit of the related Secured Party against the claims and demands of all Persons whomsoever.

Covenants of Grantors. (a) Each Grantor agrees in general: (i) to pay Indebtedness secured hereby when due; (ii) to indemnify Lender against all losses, claims, demands, liabilities and expenses of every kind caused by property subject hereto; (iii) to permit Lender to exercise its powers; (iv) to execute and deliver such documents as Lender deems necessary to create, perfect and continue the security interests contemplated hereby; (v) not to change its name, and as applicable, its chief executive office, its principal residence or the jurisdiction in which it is organized and/or registered without giving Lender prior written notice thereof; (vi) not to change the places where such Grantor keeps any Collateral or such Grantor’s records concerning the Collateral and Proceeds without giving Lender prior written notice of the address to which the relevant Grantor is moving same; (vii) not to sell, lease, transfer or otherwise dispose of all or a substantial or material portion of such Grantor’s assets except in the ordinary course of its business, nor accomplish any of the above by virtue of a division or similar transaction; and (viii) to cooperate with Lender in perfecting all security interests granted herein and in obtaining such agreements from third parties as Lender deems necessary, proper or convenient in connection with the preservation, perfection or enforcement of any of its rights hereunder. (b) Each Grantor agrees with regard to the Collateral and Proceeds, unless ▇▇▇▇▇▇ agrees otherwise in writing: (i) that Lender is authorized to file financing statements in the name of such Grantor to perfect Lender’s security interest in Collateral and Proceeds; (ii) where applicable, to operate the Collateral in accordance with all applicable statutes, rules and regulations relating to the use and control thereof, and not to use any Collateral for any unlawful purpose or in any way that would void any insurance required to be carried in connection therewith; (iii) not to remove the Collateral from such Grantor’s premises except in the ordinary course of such Grantor’s business; (iv) to pay when due all license fees, registration fees and other charges in connection with any Collateral; (v) not to permit any lien on the Collateral or Proceeds, including without limitation, liens arising from repairs to or storage of the Collateral, except in favor of Lender; (vi) not to sell, hypothecate or dispose of (including, by illustration, merger, conversion or division), nor permit the tran...

Covenants of Grantors. SECTION 4.01...

Covenants of Grantors. Each Grantor covenants and agrees with the Administrative Agent and the Lenders that, from and after the date of this Agreement until the Obligations shall have been paid in full, no Letter of Credit shall be outstanding and the Commitments shall have terminated:

Covenants of Grantors. The Grantor covenants and agrees that so long as the security interest created hereby remains outstanding:

Covenants of Grantors. Each Grantor hereby agrees that:

Covenants of Grantors. The Grantors covenant and agree that they will at all times have deposited in Escrow with the Escrow Agent the Warrant Shares, together with such duly executed and endorsed stock powers and other instruments of assignment or transfer relating thereto as the holder hereof may reasonably require to provide for the exercise of the rights represented by this Warrant. Grantors will not avoid or seek to avoid the observance or performance of any of the terms of this Warrant but will at all times in good faith carry out all such terms and take all such action as may be necessary or appropriate in order to protect the rights of the holder of this Warrant.

Covenants of Grantors. Each of the covenants and agreements which are set forth or incorporated in the Senior Credit Documents and which are applicable or refer to a Grantor or the Collateral subject hereto (or, in either case, any other term that is used with the same or similar meaning) are incorporated herein by reference and each Grantor agrees to perform and abide by each such covenant and agreement. Without limiting the generality of the foregoing and in furtherance thereof, each Grantor (i) shall vote the stock and securities included in the Collateral to comply with the covenants and agreements set forth in the Senior Credit Documents, (ii) shall cause each Pledged Subsidiary to restrict the issuance of additional debt except as permitted in the Credit Agreement and additional shares of stock or other ownership interests of its Subsidiaries (or rights or options therefore) except as permitted in the Credit Agreement and, to the extent required by the Credit Agreement, shall cause such stock or other ownership interests to be pledged to the Collateral Agent hereunder; and (iii) shall not sell or otherwise dispose of, or grant any option with respect to, any of the Collateral except as permitted by the Credit Agreement.

Covenants of Grantors. Grantors agree to comply with the following covenants so long as this Deed of Trust remains in effect: