Common use of As to Inventory Clause in Contracts

As to Inventory. (a) Each Pledgor shall keep the Inventory (other than Inventory sold in the ordinary course of business) at any of the places therefor specified in Section 9(a) or, upon 20 days' prior written notice to the Agent, at such other places in a jurisdiction where all action required by Section 10 shall have been taken with respect to the Inventory. (b) Each Pledgor shall pay promptly when due all property and other taxes, assessments and governmental charges or levies imposed upon, and all claims (including claims for labor, materials and supplies) against, the Inventory, except to the extent not required pursuant to Section 5.01(b) of the Credit Agreement. In producing the Inventory, each Pledgor shall comply with all requirements of the Fair Labor Standards Act.

Appears in 3 contracts

Sources: Credit Agreement (Uniroyal Chemical Co Inc), Credit Agreement (Crompton & Knowles Corp), Security Agreement (Uniroyal Chemical Co Inc)