Common use of Charged Property Clause in Contracts

Charged Property. If the Grantor fails at any time to maintain, preserve or protect all property material to the conduct of its businesses and keep such property in good repair, working order and condition (reasonable wear and tear excepted) or fails from time to time to make, or cause to be made, all needful and proper repairs, renewals, additions, improvements and replacements thereto which are necessary in order that the business carried on in connection therewith may be properly conducted in all material respects at all times.