Common use of Condition and Repair Clause in Contracts

Condition and Repair. Borrower will maintain its assets taken as a whole in good repair and working order (making allowances for obsolescence in the ordinary course and normal wear and tear) and will make all appropriate repairs and replacements thereof.

Appears in 3 contracts

Sources: Credit Agreement (Frontier Adjusters of America Inc), Credit Agreement (Merrymeeting Inc), Credit Agreement (Merrymeeting Inc)

Condition and Repair. Each Borrower will maintain its assets assets, taken as a whole whole, in good repair and working order condition (making allowances for obsolescence in the ordinary course and normal wear and tear) and will make all appropriate repairs and or replacements thereof.

Appears in 1 contract

Sources: Credit Agreement (Globe Business Resources Inc)