COVENANTS OF THE OPERATOR. (a) Operator will:
(i) Not commit waste or permit impairment or deterioration of the Collateral Property.
(ii) Not abandon the Collateral Property.
(iii) Restore or repair or cause to be restored or repaired promptly, in a good and workmanlike manner, any damaged part of the Collateral Property to the equivalent of its original condition, or such other condition as Lender may approve in writing, whether or not Insurance Proceeds or condemnation awards are available to cover any costs of such restoration or repair.
(iv) Keep or caused to be kept the Collateral Property in good repair, including the replacement of tangible Personalty and Fixtures with items of equal or better function and quality.
(v) Give Notice to Lender of and, unless otherwise directed in writing by Xxxxxx, will appear in and defend any action or proceeding purporting to affect the Collateral Property, Xxxxxx’s security or Lender’s rights under this Agreement.
(vi) Timely perform all of its obligations under each Material Contract to which Operator is a party.
(b) Operator will not (and will not permit any tenant or other person to) remove, demolish or alter, other than in a commercially reasonable manner in the ordinary course of business, the Collateral Property or any part of the Collateral Property, except in connection with the replacement of tangible Personalty.
6.2 All expenses of protecting, storing, warehousing, insuring, handling and shipping of the Collateral Property, all costs of keeping the Collateral Property free of any Liens prohibited by this Agreement and of removing the same if they should arise, and any and all excise, property, sales and use taxes imposed by any state, federal or local authority on any of the Collateral Property or in respect of the sale thereof, will be borne and paid by Operator and if Operator fails to promptly pay any thereof when due, Lender may, at its option, but will not be required to, pay the same whereupon the same will constitute Obligations and will be secured by the security interests granted hereunder and by the Security Instrument and the Loan Agreement.
COVENANTS OF THE OPERATOR. During the Option Period, the Operator will:
(a) maintain the Beskauga Property in good standing and pay all costs in respect thereof, provided that neither the Operator or SVB (whether or not it is the Operator) shall be required to make any expenditures in connection with the preparation of independent studies to be filed with a governmental body of Kazakhstan;
(b) comply with all applicable laws with respect to its activities on the Beskauga Property;
(c) keep CB and SVB, as applicable, reasonably informed as to the activities with respect to the Beskauga Property;
(d) provide CB and SVB, as applicable, with an annual report on the Beskauga Property within 90 days of the end of the work programs conducted in each year;
(e) allow CB and SVB, as applicable, to conduct site visits on the Beskauga Property upon reasonable notice at their sole risk and expense; and
(f) provide CB and SVB, as applicable, access to all Beskauga Property-related information, including financial information.
COVENANTS OF THE OPERATOR a. The Operator covenants with the City to manage the Premises and, in exchange for the use of the Premises, agrees that it shall provide the services cited in Section 2 above. The Operator shall commit no waste upon the Premises nor suffer the same to be committed thereon, nor injure nor misuse the same. The Operator shall not assign this Agreement nor sublicense the use of the Premises or any part thereof, nor make alterations therein, or use the same for any purpose but that hereinbefore authorize, without prior written approval from the City’s Director of Operations, but will deliver up the same at the expiration or sooner termination of this Agreement in as good a condition as it is now, ordinary wear and tear excepted.
b. The Operator agrees to immediately notify the City’s Director of Operations in writing of any major structural repairs that must be performed on the Premises during the Term of this Agreement. Major structural repairs shall include, but not be limited to: Boiler repair and/or replacement; HVAC repair and/or replacement; structural repairs to the buildings (including roof repair). The Operator agrees to obtain written permission from the City’s Director of Operations before changing or altering the Premises or any part thereof. This shall include, but not be limited to painting of interior or exterior surfaces. The Operator may make capital improvements to the Kweskin Theater and the Dressing Room Theater at its sole cost and expense. The City’s Director of Operations shall approve the design of such improvements in writing prior to the construction thereof.
c. The Operator shall pay for and provide for custodial services and maintenance services at the Premises, including, but is not limited to sweeping and cleaning outside abutting areas as well as the interior of the Premises.
d. If the Operator violates any of the major covenants of this Agreement, and said violation is not cured by the Operator after 30 days written notice from the City, this Agreement shall thereupon expire and terminate at the option of the City, and the City may, at any time thereafter, re-enter the Premises, and have and possess same as the City’s former estate and/or pursue any other legal remedy allowed by law.
e. Should the Operator at any time hold over the Premises beyond the period specified herein as the termination date of this Agreement, then it shall hold the Premises upon the same terms and conditions that are contained in this
COVENANTS OF THE OPERATOR.
12.01 The Operator will:
(a) observe, abide by and comply with all laws, by-laws, ordinances, regulations, orders and directions of any Regulatory Authority or Government Agency, in any way affecting the Improvements, the use and occupation of the Controlled Recreation Area and the operation of the Operator’s business;
(b) use all reasonable efforts to minimize any adverse environmental impact of the Development and comply with the environmental requirements set out in Schedule "H" in respect of the Controlled Recreation Area;
(c) ensure that the Improvements and Access Routes, other than provincial or municipal highways for which the Province or municipality has indicated that the Province or municipality, as applicable, has responsibility, are operated in accordance with Industry Standards and comply with all operating covenants set out in Schedule "I" and all conditions of tenure set out in Schedule "J";
(d) provide all management and technical expertise necessary for it to carry out its obligations under this Agreement;
(e) at the Operator’s expense, obtain and maintain, or cause to be obtained and maintained, during the term of this Agreement the following insurance with insurers licensed to do business in Canada, to the extent in accordance with Industry Standards;
(i) Commercial General Liability insurance in an amount not less than $Dollar Amount (Number million dollars) inclusive per occurrence insuring against liability for personal injury, bodily injury (including death) and property damage arising from any of the Operator’s operations and occupancy under this Agreement. Such policy will include cross liability, liability assumed under contract, provision to provide 30 days’ advance notice to the Province of cancellation, and include the Province as additional insured;
(ii) other liability insurance(s) specific to the operations of the Operator under this Agreement that may be excluded under the Commercial General Liability policy, if any from time to time, including without limitation marine, aviation, automobile, fuel storage and distribution, pollution, professional liability, and liquor liability. These additional policy(ies) shall be in amounts that a prudent operator would carry to cover the related risks and, where applicable, shall include a provision to provide 30 days’ advance notice to the Province of cancellation, and, where applicable, include the Province as additional insured; and
(iii) other insurance(s) specific to the operati...
COVENANTS OF THE OPERATOR. During the currency of this Agreement, the Operator shall:
(a) ensure the Property is in good standing by ensuring all the filing of assessment work conducted on the Property is completed or by making payments in lieu thereof, and by doing all other acts and things and making all other payments which may be necessary in that regard;
(b) ensure all reclamation work required resulting from exploration work conducted subsequent to the date of this Agreement is completed;
(c) make available to the non-operator and its representatives all records and files relating to the Property in its possession and permit the non-operator and its representatives to take abstracts therefrom and make copies thereof and prepare monthly reports to the non-operator during the active field season of work conducted, results obtained and analysis of results and prepare a formal report by March I the following year;
(d) permit the non-operator, or its representative, duly authorized by it in writing, at its own risk and expense, access to the Property at all reasonable times and to all records prepared by the operator in connection with work done or with respect to the Property;
(e) not do or permit or suffer to be done any act or thing which would or might in any way adversely affect the rights of the non-operator hereunder; and
(f) ensure all work on or with respect to the Property is done in a careful and workmanlike manner and in compliance with the applicable laws of the jurisdiction in which the Property is located and indemnify and save the non-operator harmless from any and all loss, damage, costs, actions and suits arising out of or in connection with work done by the operator on or with respect to the Property.
COVENANTS OF THE OPERATOR
