Operation of the Collateral. Debtor agrees to maintain and use the Collateral solely in the conduct of its own business, in a careful and proper manner, and in conformity with all applicable permits or licenses. Debtor shall comply in all respects with all applicable statutes, laws, ordinances and regulations. Debtor shall not use the Collateral in any unlawful manner or for any unlawful purposes, or in any manner or for any purpose that would expose the Collateral to unusual risk, or to penalty, forfeiture or capture, or that would render inoperative any insurance in connection with the Collateral.
Appears in 5 contracts
Sources: Commercial Security Agreement (Wireless International Inc), Commercial Security Agreement (Wireless International Inc), Commercial Security Agreement (Miller Petroleum Inc)
Operation of the Collateral. Debtor agrees to maintain and use the Collateral solely in the conduct of its own business, in a careful and proper manner, and in conformity with all applicable permits or licenses. Debtor shall comply in all material respects with all applicable statutes, laws, ordinances and regulations. Debtor shall not use the Collateral in any unlawful manner or for any unlawful purposes, or in any manner or for any purpose that would expose the Collateral to unusual risk, or to penalty, forfeiture or capture, or that would render inoperative any insurance in connection with the Collateral.
Appears in 2 contracts
Sources: Master Revolving Line of Credit Note (Catalyst Energy Services Inc), Loan Agreement (Catalyst Energy Services Inc)
Operation of the Collateral. Debtor agrees The Debtors agree to maintain and use the Collateral solely in the conduct of its own business, in a careful and proper reasonably prudent manner, and in conformity with all applicable permits or licenses. Debtor The Debtors shall comply in all material respects with all applicable statutes, lawsLaws, ordinances and regulations. Debtor The Debtors shall not use the Collateral in any unlawful manner or for any unlawful purposes, or in any manner or for any purpose that would expose the Collateral to unusual risk, or to penalty, forfeiture or capture, or that would render inoperative any insurance in connection with the Collateral.
Appears in 1 contract
Sources: Pledge and Security Agreement (HNR Acquisition Corp.)