Covenant to Operate. The Tenant shall throughout the whole of the Term continuously operate, occupy and utilize the entire Premises and conduct its business therein complying strictly with the provisions of this Lease. The Tenant acknowledges that the Landlord is executing this Lease in reliance upon the Tenant’s covenant herein contained and that such covenant is a material element inducing the Landlord to execute this Lease.
Covenant to Operate. The Tenant shall throughout the Term continually operate, occupy and utilize the entire Leased Premises and conduct its business in accordance with the provisions of this Lease. The Tenant acknowledges that the Landlord is executing this Lease in reliance upon this covenant and that it is a material element inducing the Landlord to execute this Lease. The Tenant shall operate and conduct its business upon the whole of the Premises in an up-to-date, first class and reputable manner befitting the character of the Building and shall act diligently and use all proper and reasonable efforts consistent with good business practice. The Tenant agrees not to make any material change in the nature or character of the business carried on by the Tenant in or from the Leased Premises or in the quality of goods and services offered by the Tenant in or from the Leased Premises without the written consent of the Landlord.
Covenant to Operate. Each day during the Term, commencing upon and at all times from and after the Term Commencement Date, Lessee shall operate and have open for business, or cause to be operated and kept open for business, the Hotel as a Luxury Hotel; provided that the foregoing covenant (i) shall be subject to interruptions due to Force Majeure Events and any disruptions pursuant to any Casualty or Appropriation referred to in Section 17 (provided that Lessee shall use all commercially reasonable efforts to mitigate and minimize the impact of any Force Majeure Event, Casualty or Appropriation on the Hotel and the Hotel Business); and (ii) shall be subject to the provisions of Section 11.5(g) with respect to limited temporary closures of certain portions of the Hotel to the extent expressly permitted by Section 11.5(h). In the event that any dispute arises between Lessee and Lessor as to whether the Hotel is being operated at any given time as a Luxury Hotel, such dispute shall, upon the request of either party, be resolved by arbitration pursuant to Section 18.
Covenant to Operate. The Parties acknowledge Landlord presently operates a hospital within the Restricted Area for the purpose of furnishing health care and/or wellness services to the general public. If, at any time hereafter, Landlord or Landlord’s successor or assign or another entity ceases to continuously operate a hospital on the Campus for a period in excess of one hundred eighty (180) days, then Tenant shall be released from the use restrictions contained in this ARTICLE 5 and in Sections 7.3 and 7.4 below, and Tenant may engage in any lawful use of the Land and the MOB; provided, however, that such use shall otherwise comply with this Lease. The provisions of the preceding sentence shall not apply to closures during any periods of construction, reconstruction or remodeling undertaken to repair, replace, expand or modify the hospital, or any portion thereof, or to any cessation of hospital operations due to casualty or other force majeure.
Covenant to Operate. [The Tenant shall throughout the Term continually operate, occupy and utilize the entire Leased Premises and conduct its business in accordance with the provisions of this Lease. If the Tenant acknowledges that the Landlord is executing this Lease in reliance upon this covenant and that it is a material element inducing the Landlord to execute this Lease.] [Language in brackets struck out in original] If the Tenant shall operate and conduct its business upon the whole of the Premises, then the Tenant shall do so in an up-to-date, first class and reputable manner befitting the character of the Building and shall act diligently and use all proper and reasonable efforts consistent with good business practice. The Tenant agrees not to make any material change in the nature or character of the business carried on by the Tenant in or from the Leased Premises or in the quality of goods and services offered by the Tenant in or from the Leased Premises without the written consent of the Landlord, which consent shall not be unreasonably withheld.
(T) Section 4.30 "New Indemnity" is hereby deleted in its entirety. (U) Sections 4.32 to 4.35, inclusive, are hereby amended as follows:
Covenant to Operate. Subject to the provisions of Section 5.3 and Section 12.4.2 hereof, commencing on Substantial Completion of the Project Improvements Work and continuing thereafter during the remainder of the Term, Tenant covenants, at Tenant’s sole cost and expense to:
(a) operate the Leased Premises, and cause the same to be operated, diligently and continuously for not less than seventy five hours per calendar week for the Permitted Use and in accordance with the Operating Standard without interruption for any reason other than Down Times (as defined in Section 12.4.2 below);
(b) perform all Maintenance and Repair Work in accordance with Section 14.1.1; and
(c) possess all Personal Property necessary for the operation of the Leased Premises and maintain all spare parts and inventory, in each case consistent with the requirements of clause (a) of this Section.
Covenant to Operate. Commencing on the Commencement Date and thereafter for the balance of the Term, Tenant hereby covenants that it shall continuously occupy and use the Premises solely for conducting the Permitted Use, as defined herein.
Covenant to Operate. The Greenhouse Operator shall use and ------------------- operate the Greenhouse Site for the permitted purposes described in paragraph 1 hereof. Such operations shall be conducted in accordance with the terms and conditions of a certain Thermal Supply Lease Agreement dated as of March 15, 1993, under which Declarant is the lessor and Greenhouse Operator is the lessee (the "Thermal Supply Agreement"); provided however that the term of Greenhouse Operator's leasehold estate shall not commence until the occurrence of the Commencement Date as provided in the Thermal Supply Lease and that this Declaration of Covenants shall not be construed to have effected any demise of the Greenhouse Site or to constitute actual or constructive notice of any such demise. In connection with the operation of the Greenhouse Site, the Greenhouse Operator shall, subject to the terms of the Thermal Supply Agreement and conditions of Force Majeure as therein provided, accept a quantity of thermal energy from the Cogeneration Site of not less than Two Hundred Billion (200,000,000,000) BTU measured on an annual calendar year basis, which thermal energy shall be received through a heat transfer system. To the fullest extent reasonably practicable, thermal energy prepared on the Cogeneration Site shall be utilized on the Greenhouse Site in lieu of thermal energy obtained from alternate sources. In addition, no other source of thermal energy (except solar generated radiant energy) shall be utilized on the Greenhouse Site in connection with the operation of the permitted use so long as thermal energy sufficient to satisfy the needs of the operation is produced and made available from the Cogeneration Site.
Covenant to Operate. Commencing on the Commencement Date, and thereafter for the balance of the Term, Tenant hereby covenants that it shall continuously occupy and use the Premises solely for conducting the Permitted Use, as defined herein. 16 This Section 13.21 shall apply during the term of the Lease, as same may be extended. Upon the last day of the Term, Landlord shall redeliver possession of any such vehicle to Tenant.
Covenant to Operate. (a) Tenant shall continually operate the Project Improvements during the Term and shall conduct its business at all times in a respectable, reputable and lawful manner in order to maximize the income generated by the operation of the Project Improvements and to maintain the Project Improvements in a first-class condition. In addition, and as a material inducement to Landlord’s agreeing to enter into this Lease with Tenant, Tenant shall continually operate the Project Improvements as a first-class apartment or office project, as applicable, with such customary ancillary uses as are permitted by Section 8.1 above, at all times until the earlier to occur of (a) Landlord permanently ceases to operate the Station as a transit station, or (b) the fifteenth (15th) anniversary of the Opening Date. Notwithstanding the foregoing, Tenant shall not be in default of its obligations under this Section 8.2 prior to Substantial Completion of the initial Project Improvements or during such time as Tenant is unable to operate the Project Improvements for any use as the result of a casualty event or a Taking, as long as Tenant otherwise is performing its obligations under this Lease, including, without limitation, Tenant’s obligations under Article 11 or 12, as applicable. Tenant’s obligations under this Section 8.2 shall be a covenant running with the Land and shall be binding on Tenant and its successors and assigns.
(b) Notwithstanding Section 8.2(a), Tenant’s failure to continually operate the Project Improvements as required under Section 8.2(a) above (a “Cessation of Operations”) shall not be an Event of Default so long as all of the following conditions are satisfied: (i) any Cessation of Operations shall not exceed a total of seven hundred twenty (720) days in any seven (7) year period during the Term; (ii) during each month of such Cessation of Operations (or portion thereof), Tenant shall pay to Landlord the Cessation of Operations Fee as liquidated damages for Landlord’s lost ridership and other benefits of having an in-service project on the Premises, and (iii) Tenant shall provide Landlord at least ninety (90) days prior written notice of such Cessation of Operations. The Cessation of Operations Fee shall be paid monthly in advance by Tenant, and Tenant shall not be entitled to any refund of any portion of the Cessation of Operations Fee for any Cessation of Operations for a partial month. LANDLORD AND TENANT AGREE THAT, UNDER THE CIRCUMSTANCES EXISTING AS OF TH...
