Common use of Maintenance of Tangible Collateral Clause in Contracts

Maintenance of Tangible Collateral. Grantor will maintain the tangible Collateral in good condition and repair (reasonable wear and tear excepted). At the time of attachment and perfection of the security interest granted pursuant hereto and thereafter, all tangible Collateral will be located and will be maintained only at the locations set forth on Exhibit A hereto. Except as otherwise permitted by Section 3.3, Grantor will not remove such Collateral from such locations unless, prior to any such removal, Grantor has given written notice to Secured Party of the location or locations to which Grantor desires to remove the Collateral, Secured Party has given its written consent to such removal, and Grantor has delivered to Secured Party acknowledgment copies of financing statements filed where appropriate to continue the perfection of Secured Party's security interest as a first priority security interest on such Collateral. Secured Party's security interest attaches to all of the Collateral wherever located and Grantor's failure to inform Secured Party of the location of any item or items of Collateral shall not impair Secured Party's security interest thereon.

Maintenance of Tangible Collateral. Grantor will maintain the tangible Collateral in good condition and repair (reasonable wear and tear excepted). At the time of attachment and perfection of the security interest granted pursuant hereto and thereafter, all tangible Collateral will be located and will be maintained only at the locations set forth on Exhibit A hereto. Except as otherwise permitted by Section 3.3, Grantor will not remove such Collateral from such locations unless, prior to any such removal, Grantor has given written notice to Secured Party of the location or locations to which Grantor desires to remove the Collateral, Secured Party has given its written consent to such removal, and Grantor has delivered to Secured Party acknowledgment copies of financing statements filed where appropriate to continue the perfection of Secured Party's ’s security interest as a first priority security interest on such Collateral. Secured Party's ’s security interest attaches to all of the Collateral wherever located and Grantor's ’s failure to inform Secured Party of the location of any item or items of Collateral shall not impair Secured Party's ’s security interest thereon.