Compliance with Laws, Mortgages and Other Matters Sample Clauses

Compliance with Laws, Mortgages and Other Matters. 2.4.1 Property Manager shall use reasonable efforts to comply with all applicable governmental requirements, including by way of illustration, but not limitation, Board of Fire Underwriters or other similar body, relative to the performance of if its duties hereunder, and cause the Property to comply with all applicable governmental laws, ordinances, rules, regulations, and requirements. Property Manager may implement such procedures with respect to the Property as Property Manager may deem advisable for the more efficient and economic management and operation thereof. Property Manager shall pay from the Operating Account (defined in Section 6.1) expenses incurred to remedy violations of laws. However, Property Manager shall not be obligated to remedy violations of law if sufficient funds are not available in the Operating Account or if the Tenants in Common do not provide sufficient additional funds to do so. 2.4.2 Property Manager shall furnish to the Tenants in Common, promptly after receipt, any notice of violation of any governmental requirement or order issued by any governmental entity, any Board of Fire Underwriters or other similar body against the Property, any notice of default from the holder of any mortgage or deed of trust encumbering the Property, or any notice of termination or cancellation of any insurance policy.
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Compliance with Laws, Mortgages and Other Matters. 2.4.1 The Property Manager shall use reasonable efforts to comply with any deed of trust, mortgage or other loan documents affecting the Project and all governmental requirements, including Board of Fire Underwriters or other similar body, relative to the performance of its duties hereunder and cause the Project to comply with any deed of trust, mortgage or other loan documents affecting the Project and all governmental requirements, including Board of Fire Underwriters or other similar body. Property Manager may implement such procedures with respect to the Project as the Property Manager may deem advisable for the more efficient and economic management and operation thereof. The Property Manager shall pay from the Operating Account (defined in Section 6.1) expenses incurred to remedy violations. 2.4.2 The Property Manager shall furnish to the Tenants in Common, promptly after receipt, any notice of violation of any governmental requirement or order issued by any governmental entity, any Board of Fire Underwriters or other similar body against the Project, any notice of default from the holder of any mortgage or deed of trust encumbering the Project or any notice of termination or cancellation of any insurance policy.
Compliance with Laws, Mortgages and Other Matters. (a) Property Manager shall use reasonable efforts to comply with all applicable governmental requirements, including by way of illustration, but not limitation, the Board of Fire Underwriters or other similar body, relative to the performance of if its duties hereunder, and cause the Property to comply with all applicable governmental laws, ordinances, rules, regulations, and requirements. Property Manager shall implement such procedures with respect to the Property as Property Manager may deem advisable for the more efficient and economic management and operation thereof. Property Manager shall pay from the Operating Account (defined in Section 6.1) expenses incurred to remedy violations of laws with respect to the Property, to the extent not paid by Tenant. Property Manager shall not be obligated to remedy such violations of law if sufficient funds are not available in the Operating Account or if Company does not provide sufficient additional funds to do so, unless such violations of law arise out of the gross negligence or willful misconduct of Property Manager. (b) Property Manager shall furnish to Company, promptly after receipt, any notice of violation of any governmental requirement or order issued by any governmental entity, any Board of Fire Underwriters or other similar body against the Property, any notice of default from the holder of any mortgage or deed of trust encumbering the Property, or any notice of termination or cancellation of any insurance policy.
Compliance with Laws, Mortgages and Other Matters. (a) The Asset Manager shall use its commercially reasonable efforts to comply, and cause the Property to be in compliance, with any deed of trust, mortgage or other loan or security documents (collectively, the “Loan Documents”) and all applicable governmental requirements, including by way of illustration, but not limitation, Board of Fire Underwriters or other similar body, relative to the performance of its duties hereunder, ordinances, roles, regulations and requirements. The Asset Manager may implement such procedures with respect to the Property as the Asset Manager may deem advisable for the more efficient and economic management and operation thereof. (b) The Asset Manager shall furnish to the Chief Financial Officer of the Owner, promptly after receipt, any notice of violation of any governmental requirement or order issued by any governmental entity, any Board of Fire Underwriters or other similar body against the Property, any notice of default from the holder of any Loan Document, or any notice of termination or cancellation of any insurance policy (which is not immediately replaced by the Asset Manager).
Compliance with Laws, Mortgages and Other Matters. The Property Manager shall abide by all applicable local, state, and federal laws. In respect of the Project, the Property Manager may implement such procedures as they may deem advisable for its efficient and economical management and operation. However, if sufficient funds are not available in the Operating Account, or if the Property Owner does not provide sufficient additional funds to do so, the Property Manager shall not be obliged to remedy any violations of law. Any notice of violation of any material laws issued by any government agency or any warning of termination or cancelation of any insurance policy shall be given by the Property Manager to the Property Owner immediately xxxx receipt. The Property Manager shall make reasonably appropriate efforts to comply with the Loan Docu- ments. The Property Manager shall furnish any notices of default received from a Lender to the Prop- erty Owner, promptly xxxx receipt. The Property Owner shall include any notices of default received from a Lender to the Property Manager immediately xxxx receipt.
Compliance with Laws, Mortgages and Other Matters. The Property Manager shall use commercially reasonable efforts to comply with and cause the Property to be in compliance with any deed of trust, mortgage or other loan documents affecting the Property and all governmental requirements, including Board of Fire Underwriters or other similar body, relative to the performance of its duties hereunder. The Property Manager may implement such procedures with respect to the Property as the Property Manager may deem advisable for the more efficient and economic management and operation thereof. The Property Manager shall pay from the Operating Account (defined in Section 6.1) expenses incurred to remedy violations. The Property Manager shall not, however, be obligated to remedy any violations of law if sufficient funds are not available in the Operating Account or if the Tenants in Common do not provide sufficient additional funds to do so. The Property Manager shall furnish to the Tenants in Common, promptly after receipt, any notice of violation of any governmental requirement or order issued by any governmental entity, any Board of Fire Underwriters or other similar body against the Property, any notice of default from the holder of any mortgage or deed of trust encumbering the Property or any notice of termination or cancellation of any insurance policy.

Related to Compliance with Laws, Mortgages and Other Matters

  • Compliance with Other Instruments The execution, delivery and performance by the Purchaser of this Agreement and the consummation by the Purchaser of the transactions contemplated by this Agreement will not result in any violation or default (i) of any provisions of its organizational documents, (ii) of any instrument, judgment, order, writ or decree to which it is a party or by which it is bound, (iii) under any note, indenture or mortgage to which it is a party or by which it is bound, (iv) under any lease, agreement, contract or purchase order to which it is a party or by which it is bound or (v) of any provision of federal or state statute, rule or regulation applicable to the Purchaser, in each case (other than clause (i)), which would have a material adverse effect on the Purchaser or its ability to consummate the transactions contemplated by this Agreement.

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