Common use of Maintenance of Tangible Collateral Clause in Contracts

Maintenance of Tangible Collateral. The Debtor will cause the tangible Collateral material to the conduct of its business to be maintained and preserved in the same condition, repair and working order as when new, ordinary wear and tear excepted, and in accordance with any manufacturer's manual, and shall forthwith, or, in the case of any loss or damage to any of the tangible Collateral as quickly as practicable after the occurrence thereof, make or cause to be made all repairs, replacements, and other improvements which are necessary or desirable to such end. The Debtor shall promptly furnish to the Agent a statement respecting any loss or damage to any of the tangible Collateral.

Maintenance of Tangible Collateral. The Debtor Company will cause the tangible Collateral material to the conduct of its business to be maintained and preserved in the same condition, repair and working order as when new, ordinary wear and tear excepted, and in accordance with any manufacturer's manual, and shall forthwith, or, in the case of any loss or damage to any of the tangible Collateral as quickly as practicable after the occurrence thereof, make or cause to be made all repairs, replacements, and other improvements which are necessary or desirable to such end. The Debtor Company shall promptly furnish to the Administrative Agent a statement respecting any loss or damage to any of the tangible Collateral.

Maintenance of Tangible Collateral. The Debtor Company will cause the tangible Collateral material to the conduct of its business to be maintained and preserved in the same condition, repair and working order as when new, ordinary wear and tear excepted, and in accordance with any manufacturer's manual, and shall forthwith, or, in the case of any loss or damage to any of the tangible Collateral as quickly as practicable after the occurrence thereof, make or cause to be made all repairs, replacements, and other improvements which are necessary or desirable to such endin its judgment is in the best interest of the Company. The Debtor Company shall promptly furnish to the Agent a statement respecting any material loss or damage to any of the tangible Collateral.

Maintenance of Tangible Collateral. The Debtor Such Grantor will cause the tangible Collateral material to the conduct of its business to be maintained and preserved in the same condition, repair and working order as when new, ordinary wear and tear excepted, and in 123 accordance with any manufacturer's manual, and shall forthwith, or, in the case of any loss or damage to any of the tangible Collateral as quickly as practicable after the occurrence thereof, make or cause to be made all repairs, replacements, and other improvements which are necessary or desirable to such end. The Debtor Such Grantor shall promptly furnish to the Agent a statement respecting any loss or damage to any of the tangible Collateral.