Common use of Maintenance and Operation of Project Clause in Contracts

Maintenance and Operation of Project. The Company shall use its best efforts to cause the Project, including all appurtenances thereto and any personal property therein or thereon, to be kept and maintained in good repair and good operating condition so that the Project will continue to constitute a Waste Water Facility and a Solid Waste Facility (each as defined in the Act) for the purposes of the operation thereof as required hereby. So long as such shall not be in violation of the Act or impair the character of the Project as a Waste Water Facility and a Solid Waste Facility, as the case may be, and provided there is continued compliance with applicable laws and regulations of governmental entities having jurisdiction thereof, the Company shall have the right to remodel the Project or make additions, modifications and improvements thereto, from time to time as it, in its discretion, may deem to be desirable for its uses and purposes, the cost of which remodeling, additions, modifications and improvements shall be paid by the Company and the same shall, when made, become a part of the Project. To the extent not heretofore commenced, the Company shall not be under any obligation to renew, repair or replace any inadequate, obsolete, worn out, unsuitable, undesirable or unnecessary portions of the Project, except to the extent, if any, necessary to ensure the continued character of the Project as a Waste Water Facility and a Solid Waste Facility. The Company shall have the right from time to time to substitute personal property or fixtures for any portions of the Project, provided that the personal property or fixtures so substituted shall not impair the character of the Project as a Waste Water Facility and a Solid Waste Facility. Any such substituted property or fixtures shall, when so substituted, become a part of the Project. The Company shall also have the right to remove any portions of the Project, without substitution therefor, provided that the Company shall deliver to the Trustee a certificate upon which the Trustee may conclusively rely signed by an engineer describing said portions of the Project and stating that the removal of such property or fixtures will not impair the character of the Project as a Waste Water Facility and a Solid Waste Facility. The Company shall, subject to its obligations and rights to maintain, repair or remove portions of the Project, as herein provided, use its best efforts to cause the operation of the Project to continue so long as and to the extent that operation thereof is required to comply with laws or regulations of governmental entities having jurisdiction thereof or unless the Issuer shall have approved the discontinuance of such operation (which approval shall not be unreasonably withheld). The Company agrees that it will, within the design capacities thereof, cause the Project to be operated and maintained in accordance with all applicable, valid and enforceable rules and regulations of the EPA and the Department of Health of the State of Ohio or any successor body, agency, commission or department to either, including those regulations relating to the prevention, control and abatement of water and solid waste pollution and the prescribing of waste water and solid waste standards for that area of the State of Ohio in which the Project is located; provided, that the Company reserves the right to contest in good faith any such laws or regulations. Nothing in this Section shall (a) require the Company to operate or cause to be operated any portion of any property after it is no longer economical and feasible, in the Company’s judgment, to do so or (b) prevent or restrict the Company, in its sole discretion, at any time, from discontinuing or suspending either permanently or temporarily its use of any facility of the Company served by the Project and in the event such discontinuance or suspension shall render unnecessary the continued operation of the Project, the Company shall have the right to discontinue the operation of the Project during the period of any such discontinuance or suspension.

Appears in 2 contracts

Samples: Loan Agreement (Metropolitan Edison Co), Loan Agreement (Firstenergy Corp)

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Maintenance and Operation of Project. The A. During the term of this Agreement, the Company shall use will, at its best efforts to own cost and expense, keep and maintain, or cause the Project, including all appurtenances thereto and any personal property therein or thereon, to be kept and maintained maintained, in good repair and good operating condition so that (excepting reasonable wear and tear) the Project will continue to constitute a Waste Water Facility and a Solid Waste Facility (each as defined in the Act) for the purposes of the operation thereof as required hereby. So long as such shall not be in violation of the Act or impair the character of the Project as a Waste Water Facility and a Solid Waste Facility, as the case may be, and provided there is continued compliance with applicable laws and regulations of governmental entities having jurisdiction thereof, the Company shall have the right to remodel the Project or make additions, modifications all additions and improvements thereto, from time to time as itand pay, in its discretion, may deem or cause to be desirable for paid, any utility charges and other costs and expenses arising out of its uses and purposes, the cost of which remodeling, additions, modifications and improvements shall be paid by the Company and the same shall, when made, become a part occupancy of the Project; provided that this covenant shall not prevent the Company from assigning its interest in the Project pursuant to Section 6.5 hereof. B. The Company agrees to timely pay for any improvements to the Project and to comply in all material respects, at its own cost and expense, with all lawful and enforceable notices received from public authorities from and after the date hereof which affect the Project and the use and operation thereof, other than those improvements to the Project, the validity or application of which is at the time being contested, in whole or in part, in good faith by appropriate proceedings. C. The Company will maintain and use the Project Facilities as an "industrial project for industry" within the meaning of the Act and manufacturing facility or, subject to the provisions of Section 4.8 hereof, lease them to tenants for such use and will not use or permit the use of the Project Facilities in any manner which would result in a violation of Section 144(a)(8) or Section 147(e) of the Code. D. The Company shall obtain or cause to be obtained all necessary permits and approvals for the acquisition, operation and maintenance of the Project and shall comply with all lawful requirements of any governmental body regarding the use or condition of the Project or any of its component parts. To The Company may, however, contest any such requirement by an appropriate proceeding diligently prosecuted. E. The Company shall maintain a set of plans and specifications at the extent not heretofore commencedProject Site which shall be available to the Issuer, the Trustee and the Bank for inspection and examination during the Company's regular business hours, and the Issuer and the Company agree that the Company may supplement, amend and add to such plans and specifications, and that the Company shall not be under any obligation authorized to renew, repair omit or replace any inadequate, obsolete, worn out, unsuitable, undesirable or unnecessary portions of the Project, except to the extent, if any, necessary to ensure the continued character of the Project as a Waste Water Facility and a Solid Waste Facility. The Company shall have the right from time to time to substitute personal property or fixtures make substitutions for any portions of the Project, provided that the personal property or fixtures so substituted shall not impair the character of the Project as a Waste Water Facility and a Solid Waste Facility. Any such substituted property or fixtures shall, when so substituted, become a part of the Project. The Company shall also have the right to remove any portions components of the Project, without substitution thereforapproval of the Issuer, provided that the Company no such change shall deliver to the Trustee a certificate upon be made which the Trustee may conclusively rely signed by an engineer describing said portions of the Project and stating that the removal of such property or fixtures will not impair the character of the Project as a Waste Water Facility and a Solid Waste Facility. The Company shall, subject to its obligations and rights to maintain, repair or remove portions of the Project, as herein provided, use its best efforts to cause the operation of the Project to continue so long as and to the extent that operation thereof is required to comply with laws or regulations of governmental entities having jurisdiction thereof or unless the Issuer shall have approved the discontinuance of such operation (which approval shall not be unreasonably withheld). The Company agrees that it will, within the design capacities thereof, cause the Project to be operated non-compliant with the Act or the Code, and maintained in accordance with all applicable, valid and enforceable rules and regulations provided further that if any such change would render materially incorrect or incomplete the description of the EPA and the Department of Health initial components of the State of Ohio Project or any successor body, agency, commission or department to either, including those regulations relating to the prevention, control and abatement of water and solid waste pollution and the prescribing of waste water and solid waste standards for that area description of the State of Ohio Project as set forth in which the Project is located; provided, that the Company reserves the right Exhibit C to contest in good faith any such laws or regulations. Nothing in this Section shall (a) require the Company to operate or cause to be operated any portion of any property after it is no longer economical and feasible, in the Company’s judgment, to do so or (b) prevent or restrict the Company, in its sole discretion, at any time, from discontinuing or suspending either permanently or temporarily its use of any facility of the Company served by the Project and in the event such discontinuance or suspension shall render unnecessary the continued operation of the ProjectAgreement, the Company and the Issuer shall have amend such Exhibit C to reflect such change, upon receipt by the right to discontinue Issuer, the operation Trustee, and the Bank of an opinion of Bond Counsel that such change will not result in an Event of Taxability. No approval of the Issuer or the Trustee shall be required for the acquisition of the Project during or for the period solicitation, negotiation, award or execution of any such discontinuance or suspensioncontracts relating thereto.

Appears in 1 contract

Samples: Loan Agreement (Easco Inc /De/)

Maintenance and Operation of Project. The Company shall use its best efforts to cause the Project, including all appurtenances thereto and any personal property therein or thereon, to be kept and maintained in good repair and good operating condition so that the Project will continue to constitute a Waste Water Facility and a Solid Waste Facility an pollution control facility (each as defined in the Act) for the purposes of the operation thereof as required hereby. So long as such shall not be in violation of the Act or impair the character of the Project as a Waste Water Facility and a Solid Waste Facility, as the case may be, an pollution control facility and provided there is continued compliance with applicable laws and regulations of governmental entities having jurisdiction thereof, the Company shall have the right to remodel the Project or make additions, modifications and improvements thereto, from time to time as it, in its discretion, may deem to be desirable for its uses and purposes, the cost of which remodeling, additions, modifications and improvements shall be paid by the Company and the same shall, when made, become a part of the Project. To the extent not heretofore commenced, the Company shall not be under any obligation to renew, repair or replace any inadequate, obsolete, worn out, unsuitable, undesirable or unnecessary portions of the Project, except to the extent, if any, necessary to ensure the continued character of the Project as a Waste Water Facility and a Solid Waste Facilityan pollution control facility. The Company shall have the right from time to time to substitute personal property or fixtures for any portions of the Project, provided that the personal property or fixtures so substituted shall not impair the character of the Project as a Waste Water Facility and a Solid Waste Facilityan pollution control facility. Any such substituted property or fixtures shall, when so substituted, become a part of the Project. The Company shall also have the right to remove any portions of the Project, without substitution therefor, provided that the Company shall deliver to the Trustee a certificate upon which the Trustee may conclusively rely signed by an engineer describing said portions of the Project and stating that the removal of such property or fixtures will not impair the character of the Project as a Waste Water Facility and a Solid Waste Facilityan pollution control facility. The Company shall, subject to its obligations and rights to maintain, repair or remove portions of the Project, as herein provided, use its best efforts to cause the operation of the Project to continue so long as and to the extent that operation thereof is required to comply with laws or regulations of governmental entities having jurisdiction thereof or unless the Issuer shall have approved the discontinuance of such operation (which approval shall not be unreasonably withheld). The Company agrees that it will, within the design capacities thereof, cause the Project to be operated and maintained in accordance with all applicable, valid and enforceable rules and regulations of the EPA and the Department of Health of the State of Ohio or any successor body, agency, commission or department to either, including those regulations relating to the prevention, control and abatement of water and solid waste air pollution and the prescribing of waste water and solid waste air quality standards for that area of the State of Ohio in which the Project is located; provided, that the Company reserves the right to contest in good faith any such laws or regulations. Nothing in this Section shall (a) require the Company to operate or cause to be operated any portion of any property after it is no longer economical and feasible, in the Company’s 's judgment, to do so or so, (b) prevent or restrict the Company, in its sole discretion, at any time, from discontinuing or suspending either permanently or temporarily its use of any facility of the Company served by the Project and in the event such discontinuance or suspension shall render unnecessary the continued operation of the Project, the Company shall have the right to discontinue the operation of the Project during the period of any such discontinuance or suspensionsuspension or (c) prevent the Company from selling all or any portion of the Project.

Appears in 1 contract

Samples: Loan Agreement (Ak Steel Holding Corp)

Maintenance and Operation of Project. The Company shall use its best efforts to cause the Project, including all appurtenances thereto and any personal property therein or thereon, to be kept and maintained in good repair and good operating condition so that the Project will continue to constitute a Waste Water Facility and a Solid Waste Facility (each “pollution control facility” as defined in the ActAct and a “solid waste disposal facility” under Section 142(a)(6) of the Code for the purposes of the operation thereof as required hereby. So long as such shall not be in violation of the Act or impair the character of the Project as a Waste Water Facility pollution control facility as defined in the Act and a Solid Waste Facility, as solid waste disposal facility under Section 142(a)(6) of the case may beCode, and provided there is continued compliance with applicable laws and regulations of governmental entities having jurisdiction thereof, the Company shall have the right to remodel the Project or make additions, modifications and improvements thereto, from time to time as it, in its discretion, may deem to be desirable for its uses and purposes, the cost of which remodeling, additions, modifications and improvements shall be paid by the Company and the same shall, when made, become a part of the Project. To the extent not heretofore commenced, the Company shall not be under any obligation to renew, repair or replace any inadequate, obsolete, worn out, unsuitable, undesirable or unnecessary portions of the Project, except to the extent, if any, necessary to ensure the continued character of the Project as a Waste Water Facility pollution control facility as defined in the Act and a Solid Waste Facilitysolid waste disposal facility under Section 142(a)(6) of the Code. The Company shall have the right from time to time to substitute personal property or fixtures for any portions of the Project, provided that the personal property or fixtures so substituted shall not impair the character of the Project as a Waste Water Facility pollution control facility as defined in the Act and a Solid Waste Facilitysolid waste disposal facility under Section 142(a)(6) of the Code. Any such substituted property or fixtures shall, when so substituted, become a part of the Project. The Company shall also have the right to remove any portions of the Project, without substitution therefor, provided that the Company shall deliver to the Trustee a certificate upon which the Trustee may conclusively rely signed by an engineer describing said portions of the Project and stating that the removal of such property or fixtures will not impair the character of the Project as a Waste Water Facility pollution control facility as defined in the Act and a Solid Waste Facilitysolid waste disposal facility under Section 142(a)(6) of the Code. The Company shall, subject to its obligations and rights to maintain, repair or remove portions of the Project, as herein provided, use its best efforts to cause the operation of the Project to continue so long as and to the extent that operation thereof is required to comply with laws or regulations of governmental entities having jurisdiction thereof or unless the Issuer shall have approved the discontinuance of such operation (which approval shall not be unreasonably withheld). The Company agrees that it will, within the design capacities thereof, cause the Project to be operated and maintained in accordance with all applicable, valid and enforceable rules and regulations of the EPA and the Department of Health Environmental Protection of the State Commonwealth of Ohio Pennsylvania or any successor body, agency, commission or department to either, including those regulations relating to the prevention, control and abatement of water and solid waste pollution and the prescribing of waste water and solid waste quality standards for that area of the State Commonwealth of Ohio Pennsylvania in which the Project is located; provided, that the Company reserves the right to contest in good faith any such laws or regulations. Nothing in this Section shall (a) require the Company to operate or cause to be operated any portion of any property after it is no longer economical and feasible, in the Company’s 's judgment, to do so or so, (b) prevent or restrict the Company, in its sole discretion, at any time, from discontinuing or suspending either permanently or temporarily its use of any facility of the Company served by the Project and in the event such discontinuance or suspension shall render unnecessary the continued operation of the Project, the Company shall have the right to discontinue the operation of the Project during the period of any such discontinuance or suspensionsuspension or (c) prevent the Company from selling all or any portion of the Project.

Appears in 1 contract

Samples: Loan Agreement (Ak Steel Holding Corp)

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Maintenance and Operation of Project. The Company shall use its best efforts to cause the Project, including all appurtenances thereto and any personal property therein or thereon, to be kept and maintained in good repair and good operating condition so that the Project will continue to constitute a Waste Water Facility and a Solid Waste Facility (each as defined in the Act) for the purposes of the operation thereof as required hereby. So long as such shall not be in violation of the Act or impair the character of the Project as a Waste Water Facility and a Solid Waste Facility, as the case may be, and provided there is continued compliance with applicable laws and regulations of governmental entities having jurisdiction thereof, the Company shall have the right to remodel the Project or make additions, modifications and improvements thereto, from time to time as it, in its discretion, may deem to be desirable for its uses and purposes, the cost of which remodeling, additions, modifications and improvements shall be paid by the Company and the same shall, when made, become a part of the Project. To the extent not heretofore commenced, the Company shall not be under any obligation to renew, repair or replace any inadequate, obsolete, worn out, unsuitable, undesirable or unnecessary portions of the Project, except to the extent, if any, necessary to ensure the continued character of the Project as a Waste Water Facility and a Solid Waste Facility. The Company shall have the right from time to time to substitute personal property or fixtures for any portions of the Project, provided that the personal property or fixtures so substituted shall not impair the character of the Project as a Waste Water Facility and a Solid Waste Facility. Any such substituted property or fixtures shall, when so substituted, become a part of the Project. The Company shall also have the right to remove any portions of the Project, without substitution therefor, provided that the Company shall deliver to the Trustee a certificate upon which the Trustee may conclusively rely signed by an engineer describing said portions of the Project and stating that the removal of such property or fixtures will not impair the character of the Project as a Waste Water Facility and a Solid Waste Facility. The Company shall, subject to its obligations and rights to maintain, repair or remove portions of the Project, as herein provided, use its best efforts to cause the operation of the Project to continue so long as and to the extent that operation thereof is required to comply with laws or regulations of governmental entities having jurisdiction thereof or unless the Issuer shall have approved the discontinuance of such operation (which approval shall not be unreasonably withheld). The Company agrees that it will, within the design capacities thereof, cause the Project to be operated and maintained in accordance with all applicable, valid and enforceable rules and regulations of the EPA and the Department of Health of the State of Ohio or any successor body, agency, commission or department to either, including those regulations relating to the prevention, control and abatement of water and solid waste pollution and the prescribing of waste water and solid waste standards for that area of the State of Ohio in which the Project is located; provided, that the Company reserves the right to contest in good faith any such laws or regulations. Nothing in this Section shall (a) require the Company to operate or cause to be operated any portion of any property after it is no longer economical and feasible, in the Company’s judgment, to do so or (b) prevent or restrict the Company, in its sole discretion, at any time, from discontinuing or suspending either permanently or temporarily its use of any facility of the Company served by the Project and in the event such discontinuance or suspension shall render unnecessary the continued operation of the Project, the Company shall have the right to discontinue the operation of the Project during the period of any such discontinuance or suspension.

Appears in 1 contract

Samples: Loan Agreement (Jersey Central Power & Light Co)

Maintenance and Operation of Project. The Company shall use its best efforts to cause the Project, including all appurtenances thereto and any personal property therein or thereon, to be kept and maintained in good repair and good operating condition so that the Project will continue to constitute a Waste Water Facility and a Solid Waste an Air Quality Facility (each as defined in the Act) for the purposes of the operation thereof as required hereby. So long as such shall not be in violation of the Act or impair the character of the Project as a Waste Water an Air Quality Facility and a Solid Waste Facility, as the case may be, and provided there is continued compliance with applicable laws and regulations of governmental entities having jurisdiction thereof, the Company shall have the right to remodel the Project or make additions, modifications and improvements thereto, from time to time as it, in its discretion, may deem to be desirable for its uses and purposes, the cost of which remodeling, additions, modifications and improvements shall be paid by the Company and the same shall, when made, become a part of the Project. To the extent not heretofore commenced, the Company shall not be under any obligation to renew, repair or replace any inadequate, obsolete, worn out, unsuitable, undesirable or unnecessary portions of the Project, except to the extent, if any, necessary to ensure the continued character of the Project as a Waste Water Facility and a Solid Waste an Air Quality Facility. The Company shall have the right from time to time to substitute personal property or fixtures for any portions of the Project, provided that the personal property or fixtures so substituted shall not impair the character of the Project as a Waste Water Facility and a Solid Waste an Air Quality Facility. Any such substituted property or fixtures shall, when so substituted, become a part of the Project. The Company shall also have the right to remove any portions of the Project, without substitution therefor, provided that the Company shall deliver to the Trustee a certificate upon which the Trustee may conclusively rely signed by an engineer describing said portions of the Project and stating that the removal of such property or fixtures will not impair the character of the Project as a Waste Water Facility and a Solid Waste an Air Quality Facility. The Company shall, subject to its obligations and rights to maintain, repair or remove portions of the Project, as herein provided, use its best efforts to cause the operation of the Project to continue so long as and to the extent that operation thereof is required to comply with laws or regulations of governmental entities having jurisdiction thereof or unless the Issuer shall have approved the discontinuance of such operation (which approval shall not be unreasonably withheld). The Company agrees that it will, within the design capacities thereof, cause the Project to be operated and maintained in accordance with all applicable, valid and enforceable rules and regulations of the EPA and the Department of Health of the State of Ohio or any successor body, agency, commission or department to either, including those regulations relating to the prevention, control and abatement of water and solid waste air pollution and the prescribing of waste water and solid waste air quality standards for that area of the State of Ohio in which the Project is located; provided, that the Company reserves the right to contest in good faith any such laws or regulations. Nothing in this Section shall (a) require the Company to operate or cause to be operated any portion of any property after it is no longer economical and feasible, in the Company’s 's judgment, to do so or so, (b) prevent or restrict the Company, in its sole discretion, at any time, from discontinuing or suspending either permanently or temporarily its use of any facility of the Company served by the Project and in the event such discontinuance or suspension shall render unnecessary the continued operation of the Project, the Company shall have the right to discontinue the operation of the Project during the period of any such discontinuance or suspensionsuspension or (c) prevent the Company from selling all or any portion of the Project.

Appears in 1 contract

Samples: Loan Agreement (Ak Steel Holding Corp)

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