Common use of Maintenance and Use of Mortgaged Property Clause in Contracts

Maintenance and Use of Mortgaged Property. Oneida shall cause the Mortgaged Property to be maintained in a good and safe condition and repair. The Improvements and the Equipment shall not be removed, demolished or materially altered (except for normal replacement of the Equipment in the ordinary course of business) without the consent of Mortgagee. Oneida shall promptly comply with all laws, orders and ordinances affecting the Mortgaged Property, or its use of the Mortgaged Property. Oneida shall not initiate, join in, acquiesce in, or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or defining the uses which may be made of the Mortgaged Property or any part thereof. If under applicable zoning provisions the use of all or any portion of the Mortgaged Property is or shall become a nonconforming use, Oneida will not cause or permit such nonconforming use to be discontinued or abandoned without the express written consent of Oneida. Oneida shall not (i) change the use of the Mortgaged Property, (ii) permit or suffer to occur any waste on or to the Mortgaged Property or to any portion thereof or (iii) take any steps whatsoever to convert the Mortgaged Property, or any portion thereof, to a condominium or cooperative form of management. Oneida will not install or permit to be installed on the Premises any underground storage tank.

Appears in 2 contracts

Samples: Oneida LTD, Oneida LTD

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Maintenance and Use of Mortgaged Property. Oneida BMC shall cause the Mortgaged Property to be maintained in a good and safe condition and repair. The Improvements and the Equipment shall not be removed, demolished or materially altered (except for normal replacement of the Equipment in the ordinary course of business) without the consent of Mortgagee. Oneida BMC shall promptly comply with all laws, orders and ordinances affecting the Mortgaged Property, or its use of the Mortgaged Property. Oneida BMC shall not initiate, join in, acquiesce in, or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or defining the uses which may be made of the Mortgaged Property or any part thereof. If under applicable zoning provisions the use of all or any portion of the Mortgaged Property is or shall become a nonconforming use, Oneida BMC will not cause or permit such nonconforming use to be discontinued or abandoned without the express written consent of OneidaMortgagee. Oneida BMC shall not (i) change the use of the Mortgaged Property, (ii) permit or suffer to occur any waste on or to the Mortgaged Property or to any portion thereof or (iii) take any steps whatsoever to convert the Mortgaged Property, or any portion thereof, to a condominium or cooperative form of management. Oneida BMC will not install or permit to be installed on the Premises any underground storage tank.

Appears in 1 contract

Samples: And Security Agreement (BMC Industries Inc/Mn/)

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Maintenance and Use of Mortgaged Property. Oneida Mortgagor shall cause the Mortgaged Property to be maintained in a good and safe condition and repair. The Improvements and the Equipment shall not be removed, demolished or materially altered (except for normal replacement of the Equipment in the ordinary course of business) without the consent of Mortgagee. Oneida Mortgagor shall promptly comply with all laws, orders and ordinances affecting the Mortgaged Property, or its use of the Mortgaged Property. Oneida Mortgagor shall not initiate, join in, acquiesce in, or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or defining the uses which may be made of the Mortgaged Property or any part thereof. If under applicable zoning provisions the use of all or any portion of the Mortgaged Property is or shall become a nonconforming use, Oneida Mortgagor will not cause or permit such nonconforming use to be discontinued or abandoned without the express written consent of OneidaMortgagor. Oneida Mortgagor shall not (i) change the use of the Mortgaged Property, (ii) permit or suffer to occur any waste on or to the Mortgaged Property or to any portion thereof or (iii) take any steps whatsoever to convert the Mortgaged Property, or any portion thereof, to a condominium or cooperative form of management. Oneida Mortgagor will not install or permit to be installed on the Premises any underground storage tank.

Appears in 1 contract

Samples: And Security Agreement (Oneida LTD)

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