Example ContractsClausesInventory and Equipment
Inventory and Equipment
Inventory and Equipment contract clause examples

Inventory and Equipment. Store the Inventory or the Equipment with value of One Hundred Thousand Dollars ($100,000) or more with a bailee, warehouseman, or other third party unless the third party has been notified of Bank’s security interest and Bank # has received an acknowledgment from the third party that it is holding or will hold the Inventory or Equipment for Bank’s benefit or # is in pledge possession of the warehouse receipt, where negotiable, covering such Inventory or Equipment. Store or maintain any Equipment or Inventory at a location other than # the location set forth in Section 10 of this Agreement or # locations for which Borrower has given at least thirty (30) days prior written notice to Bank and, if such new offices or business locations contain assets or property of One Hundred Thousand Dollars ($100,000) or more, Borrower has provided Bank with a landlord consent in form and substance reasonably satisfactory to Bank.

Inventory and Equipment. Store the Inventory or the Equipment with a bailee, warehouseman, or other third party unless the third party has been notified of Bank’s security interest and Bank # has received an acknowledgment from the third party that it is holding or will hold the Inventory or Equipment for Bank’s benefit or # is in pledge possession of the warehouse receipt, where negotiable, covering such Inventory or Equipment. Store or maintain any Equipment or Inventory at a location other than the location set forth in Section 10 of this Agreement.

Inventory and Equipment. Store the Inventory or the Equipment of a book value in excess of $500,000 with a bailee, warehouseman, collocation facility or similar third party unless the third party has been notified of Bank’s security interest and Bank # has received an acknowledgment from the third party that it is holding or will hold the Inventory or Equipment for Bank’s benefit or # is in possession of the warehouse receipt, where negotiable, covering such Inventory or Equipment. Except for Inventory sold in the ordinary course of business and for movable items of personal property in the possession of Borrower’s employees or agents, and except for such other locations as Bank may approve in writing, Borrower shall keep the Inventory and Equipment only at the location set forth in Section 10 and such other locations of which Borrower gives Bank prior written notice and as to which Bank is able to take such actions as may be necessary needed to perfect its security interest or to obtain a bailee’s acknowledgment of Bank’s rights in the Collateral.

Inventory and Equipment. Store the Inventory (if any) or the Equipment in excess of Two Million Five Hundred Thousand Dollars ($2,500,000) at such location with a bailee, warehouseman, or other third party unless the third party has been notified of the Administrative Agent’s security interest and the Borrower shall cause the Administrative Agent # to receive an acknowledgment from the third party that it is holding or will hold the Inventory (if any) or Equipment for the Administrative Agent’s benefit or # to be in possession of the warehouse receipt, if to the extent such receipt is negotiable under Article 7 of the Code, covering such Inventory or Equipment. Store or maintain any Equipment or Inventory in excess of Two Million Five Hundred Thousand Dollars ($2,500,000) at such location, at a location other than the location set forth in [Section 11] of this Agreement or other locations disclosed by the Borrower to the Administrative Agent in writing.

Equipment and Inventory. Permit any Equipment or Inventory owned by any Borrower to be removed at any time from any Property unless the removed item is consumed or sold in the usual and customary course of business, removed temporarily for maintenance and repair or, if removed permanently, replaced by an article of equivalent suitability and not materially less value, owned by Borrowers free and clear of any Lien.

Inventory and Equipment. On the date hereof # the Inventory and # the Equipment (other than mobile goods), in each case with a value in excess of $750,000, are kept at the locations listed on [Schedule 5].

Inventory and Equipment. Store the Inventory or the Equipment of an aggregate book value in excess of $500,000 with a bailee, warehouseman, collocation facility or similar third party unless the third party has been notified of Bank’s security interest and Bank # has received an acknowledgment from the third party that it is holding or will hold the Inventory or Equipment for Bank’s benefit or # is in possession of the warehouse receipt, where negotiable, covering such Inventory or Equipment. Except for Inventory sold in the ordinary course of business and for movable items of personal property having an aggregate book value not in excess of $200,000, and except for such other locations as Bank may approve in writing, Borrower shall keep the Inventory and Equipment only at the location set forth in Section 10 and such other

Inventory and Equipment; Returns. Borrower shall keep all Inventory and Equipment in good and merchantable condition, ordinary wear and tear excepted, free from all material defects except for Inventory and Equipment # sold in the ordinary course of business, and # for which adequate reserves have been made, in all cases in the United States and such other locations as to which Borrower gives prior written notice. Returns and allowances, if any, as between Borrower and its account debtors shall be on the same basis and in accordance with the usual customary practices of Borrower, as they exist on the Closing Date. Borrower shall promptly notify Bank of all returns and recoveries and of all disputes and claims involving inventory having a book value of more than $250,000.

Inventory and Equipment. Store the Inventory (if any) or the Equipment in excess of Two Million Five Hundred Thousand Dollars ($2,500,000) at such location with a bailee, warehouseman, or other third party unless the third party has been notified of the Administrative Agent’s security interest and the Borrower shall cause the Administrative Agent # to receive an acknowledgment from the third party that it is holding or will hold the Inventory (if any) or Equipment for the Administrative Agent’s benefit or # to be in possession of the warehouse receipt, if to the extent such receipt is negotiable under Article 7 of the Code, covering such Inventory or Equipment. Store or maintain any Equipment or Inventory in excess of Two Million Five Hundred Thousand Dollars ($2,500,000) at such location, at a location other than the location set forth in [Section 11] of this Agreement or other locations disclosed by the Borrower to the Administrative Agent in writing.

It shall at its own cost and expense maintain, keep and preserve its Inventory in good condition; provided that, notwithstanding the foregoing, it may, until an Event of Default, # use, consume and sell the Inventory in the ordinary course of business, but a sale in the ordinary course of business shall not under any circumstance include any transfer or sale in satisfaction, partial or complete, of a debt owing by any Credit Party; and # sell obsolete, worn out or unusable Equipment which is concurrently replaced, on a reasonably expeditious basis, consistent with past practices and having regard to the particular Equipment, replacing same with similar Equipment at least equal in quality and condition to that sold and owned by such Credit Party, free of any Lien other than Permitted Liens, in a manner consistent with the past practices of such Credit Party.

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