Common use of Covenants Concerning Collateral, Etc Clause in Contracts

Covenants Concerning Collateral, Etc. The Company further covenants with the Lender that the Company will not remove the Collateral from its location, without providing at least 30 days prior written notice to the Lender, (b) except for the security interest herein granted, the Company shall be the owner the Collateral free from any right or claim of any other person or any lien, security interest or other encumbrance, and the Company shall defend the same against all claims and demands of all persons at any time claiming the same or any interests therein adverse to the Lender, (c) the Company shall not pledge, mortgage or create, or suffer to exist any right of any person in or claim by any person to the Collateral, or any security interest, lien or other encumbrance in the Collateral in favor of any person, (d) the Company will keep the Collateral in good order and repair and will not use the same in violation of law or any policy of insurance thereon, (e) the Company will permit the Lender, or its designee, to inspect the Collateral at any reasonable time, wherever located, (f) the Company will pay promptly when due all taxes, assessments, governmental charges and levies upon the Collateral or incurred in connection with the use or operation of the Collateral or incurred in connection with this Agreement and (g) the Company will not sell or otherwise dispose, or offer to sell or otherwise dispose, of the Collateral or any interest therein except for (i) sales and leases of inventory in the ordinary course of business and (ii) so long as no Event of Default has occurred and is continuing, sales or other dispositions of obsolescent items of equipment consistent with past practices.

Covenants Concerning Collateral, Etc. The Company further covenants ------------------------------------ with the Lender that as follows: (a) the Collateral, to the extent not delivered to the Lender pursuant to Section 4, will be kept at those locations where it is presently located and previously disclosed to the Lender and the Company will not remove the Collateral from its locationsuch locations, without providing at least 30 days prior written notice to the Lender, (b) except for the security interest herein grantedgranted and Permitted Liens, the Company shall be the owner of or have other rights in the Collateral free from any right or claim of any other person or any lien, security interest or other encumbranceLien, and the Company shall defend the same against all claims and demands of all persons at any time claiming the same or any interests therein adverse to the Lender, (c) the Company shall not pledge, mortgage or create, or suffer to exist any right of any person in or claim by any person to the Collateral, or any security interest, lien or other encumbrance Lien in the Collateral in favor of any person, other than the Lender except for Permitted Liens, (d) the Company will keep the Collateral in good order and repair and will not use the same in material violation of law or any policy of insurance thereon, (e) as provided in the Loan Agreement, the Company will permit the Lender, or its designee, to inspect the Collateral at any reasonable time, wherever located, (f) the Company will pay promptly when due all taxes, assessments, governmental charges and levies upon the Collateral or incurred in connection with the use or operation of the Collateral or incurred in connection with this Agreement Agreement, and (g) the Company will not sell or otherwise disposedispose of, or offer to sell or otherwise disposedispose of, of the Collateral or any interest therein except for (i) sales and leases as provided in Section 10.5.2 of inventory in the ordinary course of business and (ii) so long as no Event of Default has occurred and is continuing, sales or other dispositions of obsolescent items of equipment consistent with past practicesLoan Agreement.