Common use of Covenants Relating to Inventory Clause in Contracts

Covenants Relating to Inventory. (i) Use commercially reasonable efforts to maintain, keep and preserve its Inventory in good salable condition at its own cost and expense, in accordance with the provisions of the Credit Agreement. (ii) Comply with all reporting requirements set forth in the Credit Agreement with respect to Inventory. (iii) If any item of Inventory having a book value of greater than $1,000,000 is at any time evidenced by a Pledged Document, promptly upon request by the Agent, deliver such document of title to the Agent.

Appears in 2 contracts

Sources: Senior Secured Working Capital Credit Facility (Transmontaigne Inc), Senior Secured Credit Facility (TransMontaigne Partners L.P.)