Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 17 contracts
Sources: Loan and Security Agreement (P&f Industries Inc), Loan and Security Agreement (P&f Industries Inc), Loan, Security and Guarantee Agreement (Applied Optoelectronics, Inc.)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower Obligor shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Obligor shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 8 contracts
Sources: Loan and Security Agreement (Summer Infant, Inc.), Loan and Security Agreement (Hydrofarm Holdings Group, Inc.), Loan and Security Agreement (Hydrofarm Holdings Group, Inc.)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall not permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 5 contracts
Sources: Loan and Security Agreement (Lapolla Industries Inc), Loan and Security Agreement (Lapolla Industries Inc), Loan and Security Agreement (Sport Chalet Inc)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 5 contracts
Sources: Loan, Security and Guarantee Agreement (GEE Group Inc.), Loan and Security Agreement (Standard Register Co), Loan and Security Agreement (Alon USA Energy, Inc.)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien WaiverWaiver or an appropriate Rent and Charges Reserve has been established with respect thereto.
Appears in 4 contracts
Sources: Loan and Security Agreement (Conns Inc), Loan and Security Agreement (Conns Inc), Loan and Security Agreement (Conns Inc)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Borrowers shall not permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 4 contracts
Sources: Loan and Security Agreement (Americas Carmart Inc), Loan and Security Agreement (Americas Carmart Inc), Loan and Security Agreement (Americas Carmart Inc)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs (in the business judgment of the Borrowers) have been made so that the value and operating efficiency of the Equipment is preserved at all timesmade, reasonable wear and tear exceptedexcluded. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 4 contracts
Sources: Loan and Security Agreement (Olympic Steel Inc), Loan and Security Agreement (Olympic Steel Inc), Loan and Security Agreement (Olympic Steel Inc)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs (in the business judgment of Borrowers) have been made so that the value and operating efficiency of the Equipment is preserved at all timesmade, reasonable wear and tear exceptedexcluded. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 3 contracts
Sources: Loan and Security Agreement (Olympic Steel Inc), Loan and Security Agreement (Olympic Steel Inc), Loan and Security Agreement (Olympic Steel Inc)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the its value and operating efficiency of the Equipment is are preserved at all times, reasonable wear and tear excepted. Each Borrower Obligor shall ensure that the Equipment is mechanically and structurally soundsound in all material respects, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Obligor shall permit any Equipment to become affixed to real Property Real Estate unless any such Obligor uses its commercially reasonable efforts to have the applicable landlord or mortgagee delivers deliver a Lien Waiver.
Appears in 3 contracts
Sources: Loan, Guaranty and Security Agreement (Turtle Beach Corp), Loan, Guaranty and Security Agreement (Turtle Beach Corp), Loan Agreement (Turtle Beach Corp)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the its value and operating efficiency of the Equipment is are preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 3 contracts
Sources: Loan, Guaranty and Security Agreement (BIG 5 SPORTING GOODS Corp), Loan Agreement (BIG 5 SPORTING GOODS Corp), Loan Agreement (Key Tronic Corp)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien WaiverProperty.
Appears in 3 contracts
Sources: Loan and Security Agreement (Radiant Logistics, Inc), Subordination Agreement (Radiant Logistics, Inc), Loan and Security Agreement (Radiant Logistics, Inc)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower Obligor shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Obligor shall permit any Equipment to become affixed to real Property unless any such Obligor uses its commercially reasonable efforts to have the applicable landlord or mortgagee delivers deliver a Lien Waiver.
Appears in 3 contracts
Sources: Term Loan, Guaranty and Security Agreement (Turtle Beach Corp), Loan, Guaranty and Security Agreement (Parametric Sound Corp), Loan, Guaranty and Security Agreement (Parametric Sound Corp)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer the manufacturer’s published and recommended specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien WaiverWaiver or similar instrument.
Appears in 3 contracts
Sources: Loan and Security Agreement (Modtech Holdings Inc), Loan and Security Agreement (EMAK Worldwide, Inc.), Loan and Security Agreement (Chromcraft Revington Inc)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, excepted except as could not reasonably be expected to result in accordance with manufacturer specificationsa Material Adverse Effect. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 3 contracts
Sources: Loan Agreement (School Specialty Inc), Loan Agreement (School Specialty Inc), Loan Agreement (School Specialty Inc)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall use commercially reasonable efforts to ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 3 contracts
Sources: Loan and Security Agreement (U.S. Concrete, Inc.), Loan and Security Agreement (Us Concrete Inc), Loan Agreement (Us Concrete Inc)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the its value and operating efficiency of the Equipment is are preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property Real Estate unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 3 contracts
Sources: Loan and Security Agreement (Super Micro Computer, Inc.), Loan and Security Agreement (Super Micro Computer, Inc.), Loan and Security Agreement (Super Micro Computer, Inc.)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the its value and operating efficiency of the Equipment is are preserved at all times, reasonable wear and tear excepted. Each Borrower shall take commercially reasonable steps to ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property Real Estate unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 3 contracts
Sources: Loan and Security Agreement (Orion Energy Systems, Inc.), Loan and Security Agreement (Orion Energy Systems, Inc.), Loan and Security Agreement (Orion Energy Systems, Inc.)
Condition of Equipment. The Equipment is in good satisfactory operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear wear, tear, casualty and tear condemnation excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 3 contracts
Sources: Loan and Security Agreement (Commercial Vehicle Group, Inc.), Loan and Security Agreement (Commercial Vehicle Group, Inc.), Loan and Security Agreement (Commercial Vehicle Group, Inc.)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower Obligor shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Obligors shall not permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 2 contracts
Sources: Loan and Security Agreement (Americas Carmart Inc), Loan and Security Agreement (Americas Carmart Inc)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer the manufacturer's published and recommended specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien WaiverWaiver or similar instrument.
Appears in 2 contracts
Sources: Loan and Security Agreement (Bairnco Corp /De/), Loan and Security Agreement (WHX Corp)
Condition of Equipment. The Each Obligor shall ensure that its Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower Obligor shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Obligor shall permit any Equipment to become affixed to real Property Real Estate unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 2 contracts
Sources: Loan Agreement (Hyster-Yale Materials Handling, Inc.), Loan, Security and Guaranty Agreement (Hyster-Yale Materials Handling, Inc.)
Condition of Equipment. The Equipment is shall be maintained in good operating condition and repair, and all necessary replacements and repairs have been shall be made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property Real Estate unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 2 contracts
Sources: Credit Agreement (Covenant Transportation Group Inc), Credit Agreement (Covenant Transportation Group Inc)
Condition of Equipment. The All material Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the all material Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 2 contracts
Sources: Term Loan and Security Agreement (Blyth Inc), Loan and Security Agreement (Blyth Inc)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower Loan Party shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Loan Party shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 1 contract
Sources: Loan and Security Agreement (Craftmade International Inc)
Condition of Equipment. The Obligors shall maintain the Equipment is in good operating condition and repair, and make all necessary replacements and repairs have been made so that the its value and operating efficiency of the Equipment is are preserved at all times, reasonable wear and tear excepted. Each Borrower Obligor shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Obligor shall permit any Equipment to become affixed to real Property Real Estate unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 1 contract
Sources: Loan, Security and Guaranty Agreement (Solaris Energy Infrastructure, Inc.)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 1 contract
Sources: Term Loan and Security Agreement (Sport Chalet Inc)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the its value and operating efficiency of the Equipment is are preserved at all times, reasonable wear and tear excepted. Each Borrower Obligor shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Obligor shall permit any Equipment to become affixed to real Property Real Estate unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 1 contract
Sources: Loan, Guaranty and Security Agreement (Infinera Corp)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the its value and operating efficiency of the Equipment is preserved are maintained at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property Real Estate unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 1 contract
Sources: Loan and Security Agreement (Servicesource International, Inc.)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver..
Appears in 1 contract
Sources: Loan and Security Agreement (Adara Acquisition Corp.)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the its value and operating efficiency of the Equipment is are preserved at all times, reasonable ordinary wear and tear excepted. Each Borrower Obligor shall use commercially reasonable efforts to ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Obligor shall permit any Equipment to become affixed to real Property Real Estate it does not own unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 1 contract
Sources: Loan and Security Agreement (FreightCar America, Inc.)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall, and shall cause its Subsidiaries to, ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 1 contract
Sources: Loan and Security Agreement (Steinway Musical Instruments Inc)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value marketability and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications, if any. No Borrower shall not permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 1 contract
Sources: Loan and Security Agreement (Hines Horticulture Inc)
Condition of Equipment. The Equipment is and will remain in good operating condition and repair, and all necessary replacements and repairs have been and will be made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall not permit any Equipment with an aggregate value in excess of $250,000 to become affixed to real Property unless unless, if requested by Lender in its reasonable discretion, any landlord or mortgagee delivers a Lien Waiver.
Appears in 1 contract
Sources: Loan and Security Agreement (Volt Information Sciences, Inc.)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the its value and operating efficiency of the Equipment is are preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally soundsound in all material respects, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property Real Estate unless any such Obligor uses its commercially reasonable efforts to have the applicable landlord or mortgagee delivers deliver a Lien Waiver.
Appears in 1 contract
Sources: Loan, Guaranty and Security Agreement (ArcLight Clean Transition Corp.)
Condition of Equipment. The Equipment is and will remain in good operating condition and repair, and all necessary replacements and repairs have been and will be made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower Borrowers shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall not permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 1 contract
Sources: Loan and Security Agreement (Wireless Telecom Group Inc)
Condition of Equipment. The Equipment is in good operating condition and repairrepair in all material respects, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver, in each case, in all material respects.
Appears in 1 contract
Sources: Loan, Security and Guarantee Agreement (National CineMedia, Inc.)
Condition of Equipment. The Equipment is and will remain in good operating condition and repair, and all necessary replacements and repairs have been and will be made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 1 contract
Sources: Loan and Security Agreement (Xplore Technologies Corp)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower Guarantor shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Guarantor shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 1 contract
Condition of Equipment. The Equipment is in good satisfactory operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear wear, tear, casualty and tear condemnation excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Obligor shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.Section 9.04
Appears in 1 contract
Sources: Loan and Security Agreement (Commercial Vehicle Group, Inc.)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment included in the Borrowing Base to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 1 contract
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 1 contract
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower Obligor shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower Obligor shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiverlien waiver.
Appears in 1 contract
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property Real Estate unless any landlord or mortgagee delivers a Lien WaiverWaiver or an appropriate rent reserved has been established with respect thereto.
Appears in 1 contract
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment .”
Section 2.5 Section 9.1.4 of the Loan Agreement is hereby amended and restated to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver.read in its entirety as follows:
Appears in 1 contract
Condition of Equipment. The Eligible Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property owned by another Person unless any landlord or mortgagee delivers a Lien Waiver.
Appears in 1 contract
Sources: Loan and Security Agreement (Frozen Food Express Industries Inc)
Condition of Equipment. The Equipment is in good operating condition and repair, and all necessary replacements and repairs have been made so that the value and operating efficiency of the Equipment is preserved at all times, reasonable wear and tear excepted. Each Borrower shall ensure that the Equipment is mechanically and structurally sound, and capable of performing the functions for which it was designed, in accordance with manufacturer specifications. No Borrower shall permit any Equipment to become affixed to real Property unless any landlord or mortgagee delivers a Lien Waiver., if requested by Agent. Table of Contents
Appears in 1 contract
Sources: Loan and Security Agreement (Monaco Coach Corp /De/)