Maintain Assets Clause Samples
The 'Maintain Assets' clause requires a party to keep certain assets in good working order and condition throughout the duration of an agreement. This typically involves performing regular maintenance, repairs, and necessary upgrades to ensure the assets remain functional and do not deteriorate in value or utility. By imposing this obligation, the clause helps preserve the value and usability of the assets, preventing disputes over asset condition and ensuring that both parties' expectations regarding asset upkeep are met.
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Maintain Assets. Maintain and keep its assets, properties and equipment in good repair, working order and condition and from time to time make or cause to be made all needed renewals, replacements and repairs so that at all times Borrower’s business can be operated efficiently.
Maintain Assets. Keep and maintain in good repair, working order and condition all of its assets and properties which are necessary or useful in its business (ordinary wear and tear excepted).
Maintain Assets. UTEK and FDTI shall maintain the Assets in good --------------- working condition and shall take reasonably steps to insure that the Assets are not damaged, lost, destroyed or impaired.
Maintain Assets. The Seller shall not license, sell, assign, transfer, dispose of, pledge, mortgage or grant a security interest or other Encumbrance on or over any Purchased Assets, other than sales of inventory to customers in the ordinary and normal course of the Purchased Business;
Maintain Assets. Maintain its properties in good repair, working order, and operating condition. Borrower shall immediately notify Fleet of any event causing material loss in the value of its assets overall.
Maintain Assets. No Obligor shall conceal, remove or permit to be concealed or removed any part of its fee simple real estate or its material personal properties, with the intent to hinder, delay or defraud its creditors or any of them, or made or suffered a transfer of its fee simple real estate or its material personal properties which may be fraudulent under any Bankruptcy, fraudulent conveyance or similar law or shall have made any transfer of its fee simple real estate or its material personal properties to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid, or shall have suffered or permitted, while insolvent, any creditor to obtain a lien on any of its fee simple real estate or its material personal properties through legal proceedings or distraint which is not vacated within sixty (60) days from the date thereof.
Maintain Assets. Consistent with past practice, the Company shall maintain and keep its properties and assets in at least as good condition and repair, reasonable wear and tear excepted, as the condition and repair the properties and assets are in as of the date hereof.
Maintain Assets. Maintain the Assets in good order and repair in all material respects;
Maintain Assets. Each Obligor must maintain the assets the subject of the Security in good working order and condition, subject to fair wear and tear, and make all necessary repairs and replacements of assets the subject of the Security.
Maintain Assets. Seller shall maintain the Assets in good working condition --------------- and shall take reasonably steps to insure that the Assets are not damaged, lost, destroyed or impaired.