Maintenance and Operation of Property. From and after the Effective Date, Seller shall maintain existing insurance coverage in full force and effect, and shall operate and maintain the Property in substantially the same manner as operated and maintained as of the Effective Date, shall not delay or defer any repair or maintenance item, and shall pay all bills and obligations arising from the Property as payment becomes due. Seller shall not make any material alterations to or upon the Property or remove any of the Personal Property therefrom, except with Buyer's advance written consent, which consent shall not be unreasonably withheld. Seller shall promptly advise Buyer in writing of any significant repair or improvement required to keep in the Property in such condition.
Maintenance and Operation of Property. Prior to the Closing, the Sellers, as applicable, shall use commercially reasonable efforts to cause Tenant or Manager with respect to each Property, as applicable, to, operate, maintain and repair such Property in the ordinary course of business consistent with past practices, and to maintain substantially the services and levels of Goods and Inventory at each Property as are required under the applicable Tenant Lease or Management Agreement. The Tenants, Seller Tenants and Managers may enter into new Resident Agreements in the ordinary course of business in a manner consistent with past practices, which Resident Agreements, to the extent relating to CLP Managed Properties, shall constitute Resident Agreements to be assigned to Buyer hereunder, provided that such Resident Agreements are on substantially the same form as provided in the Data Room as of the Effective Date, and are at prevailing rates with no concessions, discounts or other incentives unless consistent with past practices or otherwise approved by Buyer, which approval shall not be unreasonably withheld, conditioned or delayed. The Tenants and Managers may enter into new contracts in the ordinary course of business in a manner consistent with past practices (which contracts, if related to the CLP Managed Properties, shall be Approved Contracts if Buyer’s prior written consent (not to be unreasonably withheld, conditioned or delayed) has been obtained); provided, however, that any new contract that has terms or provisions that require the applicable Seller’s approval pursuant to the terms of the Tenant Lease or Management Agreement shall also require the consent of Buyer, which consent shall not be unreasonably withheld, conditioned or delayed (and, where Sellers advise Buyer that a Material Contract is necessary to make urgent repairs or to respond to exigent circumstances, Buyer agrees to respond to Sellers’ request for approval within two (2) days; in the absence of a contrary response to Sellers’ request for approval within such period, Buyer shall be deemed to have approved the request). Except with respect to the Resident Agreements and contracts entered into in the ordinary course of business in a manner consistent with past practice as mentioned above in this Section 12.2, no Seller shall enter into, modify, amend or terminate, or give or withhold any approval or consent or exercise or waive any right under, any of the Tenant Leases, Management Agreements, Approved Contracts, Ancillary...
Maintenance and Operation of Property. To the extent that the failure to comply could reasonably be expected to have a Material Adverse Effect and consistent with the standards of a reasonably prudent operator:
(a) Maintain, develop, and operate Borrower's Oil and Gas Properties, and oil and gas gathering assets in a good and workmanlike manner, and observe and comply with all of the terms and provisions, express or implied, of all oil and gas leases relating to the Properties so long as the oil and gas leases are capable of producing Hydrocarbons in quantities and at prices providing for continued efficient and profitable operation of business;
(b) Comply in all material respects with all contracts and agreements applicable to or relating to Borrower's Oil and Gas Properties or the production and sale of Hydrocarbons therefrom;
(c) At all times, maintain, preserve, and keep all operating equipment used with respect to Borrower's Oil and Gas Properties, and oil and gas gathering assets in proper repair, working order and condition, and make all necessary or appropriate repairs, renewals, replacements, additions and improvements thereto so that the efficiency of the operating equipment shall at all times be properly preserved and maintained, provided that no item of operating equipment need be so repaired, renewed, replaced, added to or improved, if Borrower or its Subsidiaries shall in good faith determine that the action is not necessary or desirable for its continued efficient and profitable operation of business.
(d) With respect to Borrower's Oil and Gas Properties, and oil and gas gathering assets which are operated by operators other than Borrower or a Restricted Subsidiary, use reasonable efforts to enforce in a manner consistent with the industry practice the operators' contractual obligations to maintain, develop, and operate such Properties subject to the applicable operating agreements.
Maintenance and Operation of Property. From and after the date hereof and until the Closing, Seller covenants to keep and maintain and operate the Property substantially in the manner in which it is currently being maintained and operated and covenants not to cause or permit any waste of the Property nor undertake any action with respect to the operation thereof outside the ordinary course of business without Buyer's prior written consent. In connection therewith, Seller covenants to make all necessary repairs and replacements until the Closing so that the Property shall be of substantially the same quality and condition at the time of Closing as on the date hereof. Seller covenants not to remove from the Improvements or the Real Property any article included in the Personal Property. Seller covenants to maintain such casualty and liability insurance on the Property as it is presently being maintained.
Maintenance and Operation of Property. Seller shall continue to maintain the Property consistent with its prior practices, in order that its present operating condition be maintained in good and proper repair, order and condition, normal wear and tear excepted, and shall cause the continuation of the normal operation thereof, including the purchase and replacement of supplies and equipment. Seller shall not remove or permit to be removed from the Property any Personalty, except as may be necessary for repairs or discarding worn out or useless items, provided that discarded items shall be replaced with new items of substantially equal quality and quantity and shall be free and clear of any lien or encumbrance.
Maintenance and Operation of Property. Each Credit Party shall, and shall cause each of its Subsidiaries to, maintain its owned, leased, or operated Property in good condition and repair in accordance with prudent industry standards, normal wear and tear excepted; and shall abstain from, and cause each of its Subsidiaries to abstain from, knowingly or willfully permitting the commission of waste or other injury, destruction, or loss of natural resources, or the occurrence of pollution, contamination, or any other condition in, on or about the owned or operated Property involving the Environment that could reasonably be expected to result in Response activities and that could reasonably be expected to result in a Material Adverse Change.
Maintenance and Operation of Property. 6.3.1 From the Effective Date through the Closing Date (the “Contract Period”), Seller shall (i) maintain in full force and effect all of the insurance policies and coverages currently in effect with respect to the Property; (ii) operate, manage and maintain the Property, including without limitation, the building systems, software systems and plant equipment related to the Buildings in the manner consistent with current practices; (iii) make such repairs and replacements as are reasonably required of Seller under the Leases; (iv) inform Purchaser promptly of any default under any Lease and of any litigation, arbitration proceeding or administrative hearing that affects the Property in any manner and which is instituted after the Effective Date; and (v) perform and comply with the obligations of the lessor under the Leases.
6.3.2 During the Contract Period, Seller shall not, without Purchaser’s prior written consent (i) execute new contracts for services to the Property that will be effective on or after the Closing Date (which consent shall not be unreasonably withheld, conditioned or delayed); (ii) create, grant or record any liens or encumbrances on title, except in accordance with this Agreement; (iii) except as otherwise required by the Leases, modify, amend, supplement, renew, extend or terminate any of the Leases or consent to the assignment of any Lease or to any sublease of any portion of the Property; (iv) enter into any new leases or occupancy agreements of any kind for any portion of the Property; (v) make or permit to be made any alterations to or upon the Property (other than alterations made pursuant to one of the Leases) (which consent shall not be unreasonably withheld, conditioned or delayed); or (vi) consent to any change in the zoning classification applicable to the Property.
Maintenance and Operation of Property. Maintain the Property in its present condition, ordinary wear and tear excepted, and operate the Property in substantially the same manner as the Property has previously been operated by Seller.
Maintenance and Operation of Property. From and after the date hereof and until the Closing, Seller covenants to keep and maintain and operate the Property substantially in the manner in which it is currently being maintained and operated and covenants not to cause or permit any waste nor undertake any action with respect to the operation thereof outside the ordinary course of business without Buyer’s prior written consent, not to be unreasonably withheld. Seller covenants not to remove from the Improvements or the Real Property any article included in the Personal Property, without replacing the same with a replacement of the same general quality and/or type. Seller covenants to maintain such casualty and liability insurance on the Property as is presently being maintained.
Maintenance and Operation of Property. From and after the date hereof and until the Closing, Seller covenants to keep and maintain and operate the Property substantially in the manner in which it is currently being maintained and operated and covenants not to cause or permit any waste of the Property nor undertake any action with respect to the operation thereof outside the ordinary course of business without Buyer's prior written consent, which consent shall not be unreasonably withheld. In connection therewith, Seller covenants to make all necessary repairs and replacements until the Closing so that the Property shall be of substantially the same quality and condition at the time of Closing as on the date hereof. Seller covenants not to remove from the Improvements or the Real Property any article included in the Personal Property. Seller covenants to maintain such casualty and liability insurance on the Property as it is presently being maintained.
