Common use of Equipment Covenants Clause in Contracts

Equipment Covenants. With respect to the Equipment: (a) upon Lender's request, Borrower shall, at its expense, at any time or times as Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender and by an appraiser acceptable to Lender; (b) Borrower shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's business and not for personal, family, household or farming use; (e) Borrower shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower shall not permit any of the Equipment to be or become a part of or affixed to real property; and (g) Borrower assumes all responsibility and liability arising from the use of the Equipment.

Appears in 7 contracts

Samples: Loan and Security Agreement (Diplomat Corp), Loan and Security Agreement (Dsi Toys Inc), Loan Agreement (Cluett Peabody & Co Inc /De)

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Equipment Covenants. With respect to the Equipment: (a) upon Lender's ’s request, Borrower shall, at its expense, at any time or times as Lender may request on or after while an Event of DefaultDefault exists, deliver or cause to be delivered to Lender written reports or appraisals as to the Equipment in form, scope and methodology reasonably acceptable to Lender and by an appraiser acceptable to Lender; (b) Borrower shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's ’s business and not for personal, family, household or farming use; (e) Borrower shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower shall not permit any of the Equipment to be or become a part of or affixed to real property; and (g) Borrower assumes all responsibility and liability arising from the use of the Equipment.

Appears in 2 contracts

Samples: Loan Agreement (Mad Catz Interactive Inc), Loan Agreement (Mad Catz Interactive Inc)

Equipment Covenants. With respect to the Equipment: (a) upon Lender's request, Borrower Guarantor shall, at its expense, at any time or times as Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender and by an appraiser acceptable to Lender; (b) Borrower b)Guarantor shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower Guarantor shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in BorrowerGuarantor's business and not for personal, family, household or farming use; (e) Borrower Guarantor shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower Guarantor or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower Guarantor in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower Guarantor shall not permit any of the Equipment to be or become a part of or permanently affixed to real property; and (g) Borrower Guarantor assumes all responsibility and liability arising from the use of the Equipment.

Appears in 1 contract

Samples: Guarantor General Security Agreement (Nutritional Sourcing Corp)

Equipment Covenants. With respect to the Equipment: (a) upon Lender's Secured Party’s request, Borrower Debtor shall, at its expense, at any time or times as Lender Secured Party may request on or after an Event of Default, deliver or cause to be delivered to Lender Secured Party written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender Secured Party and by an appraiser acceptable to LenderSecured Party, addressed to Secured Party and upon which Secured Party is expressly permitted to rely; (b) Borrower Debtor shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower Debtor shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's Debtor’s business and not for personal, family, household or farming use; (e) Borrower Debtor shall not remove any Equipment from the locations set forth or permitted hereinin its Information Certificate, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower Debtor or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower Debtor in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower Debtor shall not permit any of the Equipment to be or become a part of or affixed to real property; and (g) Borrower Debtor assumes all responsibility and liability arising from the use of the Equipment.

Appears in 1 contract

Samples: General Security Agreement (Mad Catz Interactive Inc)

Equipment Covenants. With respect to the Equipment: (a) upon Lender's request, Borrower shall, at its expense, at any time or times as Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender and by an appraiser acceptable to Lender; (b) Borrower shall keep the Equipment in good order, repair, running and marketable condition operating order (ordinary wear and tear excepted); (c) Borrower shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's business and not for personal, family, household or farming use; (e) Borrower shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower in the ordinary course of business; (fe) the Equipment is now and shall remain personal property and Borrower shall not permit any of the Equipment to be or become a part of or affixed to real property; and (gf) Borrower assumes all responsibility and liability arising from the use of the Equipment.

Appears in 1 contract

Samples: Loan and Security Agreement (Diplomat Corp)

Equipment Covenants. With respect to the Equipment: (a) upon Lender's request, Borrower Borrowers shall, at its their expense, at any time or times as Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender and by an appraiser acceptable to Lender; (b) Borrower Borrowers shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower Borrowers shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's Borrowers' business and not for personal, family, household or farming use; (e) no Borrower shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of such Borrower or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of such Borrower in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower Borrowers shall not permit any of the Equipment to be or become a part of or affixed to real property; and (g) each Borrower assumes all responsibility and liability arising from the its use of the Equipment.

Appears in 1 contract

Samples: Loan and Security Agreement (Mounger Corp)

Equipment Covenants. With respect to the Equipment: (a) upon Lendera)upon Agent's request, Borrower Borrowers shall, at its their expense, at any time or times as Lender Agent may request on or after an Event of Default, deliver or cause to be delivered to Lender Agent written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender Agent and by an appraiser acceptable to Lender; (bAgent;(b) Borrower Borrowers shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (cexcepted);(c) Borrower Borrowers shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (dlaws;(d) the Equipment is and shall be used in Borrower's Borrowers' business and not for personal, family, household or farming use; (e) Borrower Borrowers shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower Borrowers or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower Borrowers in the ordinary course of business; (f) the f)the Equipment is now and shall remain personal property and Borrower Borrowers shall not permit any of the Equipment to be or become a part of or affixed to real property; and (g) Borrower assumes Borrowers assume all responsibility and liability arising from the use of the Equipment.

Appears in 1 contract

Samples: Loan and Security Agreement (Damark International Inc)

Equipment Covenants. With respect to the Equipment: (a) upon Lender's request, Borrower Borrowers shall, at its their expense, at any time or times as Lender Agents may request on or after an Event of Default, deliver or cause to be delivered to Lender Agents written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender Agents and by an appraiser acceptable to LenderAgents; (b) Borrower Borrowers shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower Borrowers shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's Borrowers' business and not for personal, family, household or farming use; (e) Borrower Borrowers shall not remove any Equipment from the locations set forth or permitted herein, except (i) to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower or Borrowers, (ii) to move Equipment directly from one location set forth or permitted herein to another such location location, (iii) for dispositions of Equipment expressly authorized herein, and except (iv) for the movement of motor vehicles used by or for the benefit of Borrower Borrowers in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower Borrowers shall not permit any of the Equipment to be or become a part of or affixed to real property; and (g) Borrower assumes Borrowers assume all responsibility and liability arising from the use of the Equipment.

Appears in 1 contract

Samples: Loan and Security Agreement (Dyersburg Corp)

Equipment Covenants. With respect to the Equipment: (a) upon Lender's ’s request, Borrower shall, at its expense, at any time or times as Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender and by an appraiser acceptable to Lender; (b) Borrower shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's ’s business and not for personal, family, household or farming use; (e) Borrower shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower shall not permit any of the Equipment to be or become a part of or affixed to real property; and (g) Borrower assumes all responsibility and liability arising from the use of the Equipment.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Irvine Sensors Corp/De/)

Equipment Covenants. With respect to the Equipment: (a) upon Lender's request, Borrower shall, at its expense, at any time or times as Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender and by an appraiser acceptable to Lender; (b) Borrower shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's business and not for personal, family, household or farming use; (e) Borrower shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower shall not permit any of the Equipment to be or become a part of or affixed to real property; and (g) Borrower assumes all responsibility and liability arising from the use of the Equipment.

Appears in 1 contract

Samples: Loan and Security Agreement (Planet Entertainment Corp)

Equipment Covenants. With respect to the Equipment: (a) upon Lender's request, Borrower shall, at its their expense, at any time or times as Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender and by an appraiser acceptable to Lender; (b) Borrower Borrowers shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower Borrowers shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's Borrowers' business and not for personal, family, household or farming use; (e) Borrower shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of a Borrower or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower Borrowers in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower Borrowers shall not permit any of the Equipment to be or become a part of or permanently affixed to real property; and (g) Borrower assumes Borrowers assume all responsibility and liability arising from the use of the Equipment.

Appears in 1 contract

Samples: Loan and Security Agreement (Nutritional Sourcing Corp)

Equipment Covenants. With respect to the Equipment: (a) upon Lender's request, Borrower shall, at its expense, at any time or times as Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender and by an appraiser acceptable to Lender; (b) Borrower shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's business and not for personal, family, household or farming use; (e) Borrower shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower shall not permit any of the Equipment to be or become a part of or affixed to real property; and (g) Borrower assumes all responsibility and liability arising from the use of the Equipment.of

Appears in 1 contract

Samples: Extension and Modification and Security Agreement (Nutritional Sourcing Corp)

Equipment Covenants. With respect to the Equipment: (a) upon Lender's request, Borrower Guarantor shall, at its expense, at any time or times as Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender and by an appraiser acceptable to Lender; (b) Borrower Guarantor shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower Guarantor shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in BorrowerGuarantor's business and not for personal, family, household or farming use; (e) Borrower Guarantor shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower Guarantor or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower Guarantor shall not permit any of the Equipment to be or become a part of or affixed to real property; and (g) Borrower Guarantor assumes all responsibility and liability arising from the use of the Equipment.

Appears in 1 contract

Samples: General Security Agreement (Pfsweb Inc)

Equipment Covenants. With respect to the Equipment: (a) upon Lender's request, Borrower Borrowers shall, at its their expense, at any time or times as Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender (which shall include a determination of the Orderly Liquidation Value of such Equipment) and by an appraiser acceptable to Lender; (b) Borrower shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower Borrowers shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's Borrowers' business and not for personal, family, household or farming use; (e) Borrower Borrowers shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower Borrowers or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower Borrowers in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower Borrowers shall not permit any of the Equipment to be or become a part of or affixed to real property; and (g) Borrower assumes Borrowers assume all responsibility and liability arising from the use of the Equipment.

Appears in 1 contract

Samples: Loan and Security Agreement (Go Video Inc)

Equipment Covenants. With respect to the Equipment: (a) upon Lender's request, Borrower Borrowers shall, at its their expense, once a year but at any time or times as Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender and by an appraiser acceptable to Lender; (b) Borrower Borrowers shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower Borrowers shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's Borrowers' business and not for personal, family, household or farming use; (e) Borrower Borrowers shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower Borrowers or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower Borrowers in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower Borrowers shall not permit any of the Equipment to be or become a part of or affixed to real property; and (g) Borrower assumes Borrowers assume all responsibility and liability arising from the use of the Equipment.

Appears in 1 contract

Samples: Loan and Security Agreement (Raytech Corp)

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Equipment Covenants. With respect to the Equipment: (a) upon Lender's request, Borrower Borrowers shall, at its their expense, at any time or times as Lender Agents may request on or after an Event of Default, deliver or cause to be delivered to Lender Agents written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender Agents and by an appraiser acceptable to LenderAgents; (b) Borrower Obligors shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower Obligors shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's Borrowers' business and not for personal, family, household or farming use; (e) Borrower Obligors shall not remove any Equipment from the locations set forth or permitted herein, except (i) to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower or Obligors, (ii) to move Equipment directly from one location set forth or permitted herein to another such location location, (iii) for dispositions of Equipment expressly authorized herein, and except (iv) for the movement of motor vehicles used by or for the benefit of Borrower Obligors in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower Obligors shall not permit any of the Equipment to be or become a part of or affixed to real property; and (g) Borrower assumes Obligors assume all responsibility and liability arising from the use of the Equipment.

Appears in 1 contract

Samples: Loan and Security Agreement (Dyersburg Corp)

Equipment Covenants. With respect to the Equipment: (a) upon Lender's ------------------- request, Borrower Borrowers shall, at its their expense, at any time or times as Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender and by an appraiser acceptable to Lender; (b) Borrower Borrowers shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower Borrowers shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's Borrowers' business and not for personal, family, household or farming use; (e) Borrower Borrowers shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower Borrowers or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower Borrowers in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower Borrowers shall not permit any of the Equipment to be or become a part of or affixed to real property; and (g) Borrower assumes Borrowers assume all responsibility and liability arising from the use of the Equipment.

Appears in 1 contract

Samples: Loan and Security Agreement (Cybex International Inc)

Equipment Covenants. With respect to the Equipment: (a) upon at least quarterly or more frequently as determined in Lender's requestreasonable credit judgment, Borrower shall, at its expense, at any time or times as Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or Desktop Review appraisals as to of the orderly liquidation value of the Equipment in form, scope and methodology acceptable to Lender and by an appraiser acceptable to Lender; (b) Borrower shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's business and not for personal, family, household or farming use; (e) Borrower shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower shall not permit any of the Equipment to be or become a part of or affixed to real property; and (g) Borrower assumes all responsibility and liability arising from the use of the Equipment.

Appears in 1 contract

Samples: Loan and Security Agreement (Storage Dimensions Inc)

Equipment Covenants. With respect to the Equipment: (a) upon Lender's request, Borrower Borrowers shall, at its their expense, at any time or times as Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender and by an appraiser acceptable to Lender; (b) Borrower Borrowers shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower Borrowers shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's Borrowers' business and not for personal, family, household or farming use; (e) Borrower Borrowers shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower Borrowers or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower Borrowers in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower Borrowers shall not permit any of the Equipment to be or become a part of or affixed to real property; and (g) Borrower Borrowers assumes all responsibility and liability arising from the use of the Equipment.

Appears in 1 contract

Samples: Loan and Security Agreement (Transpro Inc)

Equipment Covenants. With respect to the Equipment: (a) upon Lender's Lenders request, Borrower Borrowers shall, at its their expense, at any time or times as Lender may request on or after an Event of Default, Default deliver or cause to be delivered to Lender written reports or appraisals as to the Equipment in form, form scope and methodology acceptable to Lender and by an appraiser acceptable to Lender; (b) Borrower Borrowers shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower Borrowers shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's Borrowers' business and not for personal, family, household or farming use; (e) Borrower Borrowers shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower Borrowers or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower Borrowers in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower Borrowers shall not permit any of the Equipment to be or become a part of or affixed to real property; and (g) Borrower assumes Borrowers assume all responsibility and liability arising from the use of the Equipment.

Appears in 1 contract

Samples: Loan and Security Agreement (Grossmans Inc)

Equipment Covenants. With respect to the Equipment: (a) upon Lender's request, Borrower shall, at its expense, at any time or times as Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender and by an appraiser acceptable to Lender; (b) Borrower shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's business and not for personal, family, household or farming use; (e) Borrower shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower shall not permit any of the Equipment to be or become a part of or affixed to real property, unless a landlord and mortgagee waiver in such form as Lender shall specify has been executed and delivered to Lender with respect to such real property; and (g) Borrower assumes all responsibility and liability arising from the use of the Equipment.

Appears in 1 contract

Samples: Loan Agreement (Consolidated Capital of North America Inc)

Equipment Covenants. With respect to the Equipment: (a) upon Lender's request, Borrower Borrowers shall, at its their expense, at any time or times as Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender and by an appraiser acceptable to Lender; (b) Borrower Borrowers shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower Borrowers shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's Borrowers' business and not for personal, family, household or farming use; (e) Borrower Borrowers shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower Borrowers or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower Borrowers in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower Borrowers shall not permit any of the Equipment to be or become a part of or affixed to real property; and (g) Borrower assumes Borrowers assume all responsibility and liability arising from the use of the Equipment.

Appears in 1 contract

Samples: Loan and Security Agreement (Picturetel Corp)

Equipment Covenants. With respect to the Equipment: (a) upon Lender's request, Borrower shall, at its expense, at any time or times as Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender and by an appraiser acceptable to Lender, addressed to Lender and upon which Lender is expressly permitted to rely; (b) Borrower shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's business and not for personal, family, household or farming use; (e) Borrower shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower shall not permit any of the Equipment to be or become a part of or affixed to real property; and (g) Borrower assumes all responsibility and liability arising from the use of the Equipment.not

Appears in 1 contract

Samples: Loan and Security Agreement (Zila Inc)

Equipment Covenants. With respect to the Equipment: (a) upon Lender's request, Borrower Guarantor shall, at its expense, at any time or times as Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender and by an appraiser acceptable to Lender; (b) Borrower Guarantor shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower Guarantor shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in BorrowerGuarantor's business and not for personal, family, household or farming use; (e) Borrower Guarantor shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower Guarantor or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower Guarantor in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower Guarantor shall not permit any of the Equipment to be or become a part of or permanently affixed to real property; and (g) Borrower Guarantor assumes all responsibility and liability arising from the use of the Equipment.

Appears in 1 contract

Samples: Guarantor General Security Agreement (Inyx Inc)

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