Common use of Equipment Covenants Clause in Contracts

Equipment Covenants. With respect to the Equipment: (a) upon Bank's request, Borrower shall, at its expense, at any time or times as Bank may request on or after an Event of Default, deliver or cause to be delivered to Bank written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Bank and by appraiser acceptable to Bank; (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 Borrowers 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.

Equipment Covenants. With respect to the Equipment: (a) upon Bank's request, Borrower shall, at its expense, at any time or times as Bank may request on or after an Event of Default, deliver or cause to be delivered to Bank written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Bank and by an appraiser acceptable to Bank; (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 Borrowers 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.

Equipment Covenants. With respect to the Equipment: (a) upon Bank's requeston or after an Event of Default, Borrower Borrowers shall, at its their expense, at any time or times as Bank Lender may request on or after an Event of Defaultrequest, deliver or cause to be delivered to Bank Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Bank Lender and by an appraiser acceptable to BankLender; (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 each Borrower's 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 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 Borrowers in the ordinary course of business; (f) the Equipment is now and shall remain personal property and no Borrower shall not permit any of the Equipment to be or become a part of or 17 23 affixed to real property; and (g) each Borrower assumes all responsibility and liability arising from the use of the Equipment.. 7.5

Equipment Covenants. With respect to the Equipment: (a) upon Bank's request, Borrower Guarantor shall, at its expense, at any time or times as Bank may request on or after an Event of Default, deliver or cause to be delivered to Bank written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Bank and by appraiser acceptable to Bank; (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 Borrowers Guarantors 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 assumes all responsibility and liability arising from the use of the Equipment.real