Ownership; Defense of Title. (a) Borrower shall, and shall cause EDI to, defend its title in and to the Collateral and shall defend the security interest of Lender in the Collateral against the claims and demands of all Persons. (b) Borrower shall, and shall cause EDI to, (i) protect and preserve all properties material to its business, including Intellectual Property, and maintain all tangible property in good and workable condition in all material respects, with reasonable allowance for wear and tear, and (ii) from time to time make or cause to be made all needed and appropriate repairs, renewals, replacements and additions to such properties necessary for the conduct of its business.
Appears in 1 contract
Sources: Loan and Security Agreement (White Electronic Designs Corp)
Ownership; Defense of Title. (a) Borrower shall, and shall cause EDI and Panelview to, defend its title in and to the Collateral and shall defend the security interest of Lender in the Collateral against the claims and demands of all Persons.
(b) Borrower shall, and shall cause EDI and Panelview to, (i) protect and preserve all properties material to its business, including Intellectual Property, and maintain all tangible property in good and workable condition in all material respects, with reasonable allowance for wear and tear, and (ii) from time to time make or cause to be made all needed and appropriate repairs, renewals, replacements and additions to such properties necessary for the conduct of its business.
Appears in 1 contract
Sources: Loan and Security Agreement (White Electronic Designs Corp)