Maintenance and Use of Property. Borrower shall cause the Properties to be maintained in a good, safe and insurable condition and in compliance with all applicable Legal Requirements, and shall promptly make all repairs to the Properties, above grade and below grade, interior and exterior, structural and nonstructural, ordinary and extraordinary, unforeseen and foreseen except where the failure to so comply would not reasonably be expected to have and does not have a Material Adverse Effect. All repairs made by Borrower shall be made in a good and workmanlike manner, shall be equal or better in quality and class to the original work and shall comply with all applicable Legal Requirements and insurance requirements. The Improvements and the Personal Property shall not be removed, demolished or other than in accordance with the provisions of Section 5.21, materially altered (except for normal replacement of the Personal Property) without the prior written consent of Lender, which consent shall not be unreasonably withheld, conditioned or delayed. If under applicable zoning provisions the use of all or any portion of any Individual Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or the nonconforming Improvement to be abandoned without the express prior written consent of Lender. Borrower shall operate the applicable Individual Properties in accordance with the terms and provisions of the applicable O&M Program.
Appears in 2 contracts
Samples: Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)
Maintenance and Use of Property. Borrower shall cause the Properties Property to be maintained in a good, safe and insurable condition and in compliance with all applicable Legal RequirementsRequirements in all material respects, and shall promptly make (and shall promptly make or cause the Condominium Association (if the responsibility of the Condominium Association pursuant to the Condominium Documents)) all repairs to the PropertiesProperty, above grade and below grade, interior and exterior, structural and nonstructural, ordinary and extraordinary, unforeseen and foreseen foreseen, in each case, except where the failure to so comply would not reasonably be expected to have and does not have a Material Adverse Effect. All repairs made by Borrower shall be made in a good and workmanlike manner, shall be equal or better in quality and class to the original work and shall comply in all material respects with all applicable Legal Requirements and insurance requirementsrequirements set forth in this Agreement. The Improvements and the Personal Property shall not be removed, demolished or other than in accordance with the provisions of Section 5.21, materially altered (except for normal replacement of the Personal Property) or except as otherwise permitted pursuant to the Loan Documents without the prior written consent of Lender, which consent shall not be unreasonably withheld, conditioned or delayed. If under applicable zoning provisions the use of all or any portion of any Individual the Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or the nonconforming Improvement to be abandoned without the express prior written consent of Lender. Borrower shall operate the applicable Individual Properties in accordance with the terms and provisions of the applicable O&M Program.
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Maintenance and Use of Property. Borrower shall cause the Properties to be maintained in a good, safe and insurable condition and in compliance with all applicable Legal Requirements, and shall promptly make all repairs to the Properties, above grade and below grade, interior and exterior, structural and nonstructural, ordinary and extraordinary, unforeseen and foreseen except where the failure to so comply would not reasonably be expected to have and does not have a Material Adverse Effect. All repairs made by Borrower shall be made in a good and workmanlike manner, shall be equal or better in quality and class to the original work and shall comply with all applicable Legal Requirements and insurance requirements. The Improvements and the Personal Property shall not be removed, demolished or other than in accordance with the provisions of Section 5.21, materially altered (except for normal replacement of the Personal Property) without the prior written consent of Lender, which consent shall not be unreasonably withheld, conditioned or delayed. If under applicable zoning provisions the use of all or any portion of any Individual Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or the nonconforming Improvement to be abandoned without the express prior written consent of Lender. Borrower shall operate the applicable Individual Properties in accordance with the terms and provisions of the applicable O&M Program.
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Maintenance and Use of Property. Borrower shall cause Mortgage Borrower and/or Operating Lessee to cause the Properties Property to be maintained in a good, safe and insurable condition and in compliance with all applicable Legal Requirements, and shall promptly cause Mortgage Borrower to make (and shall promptly make or cause the Condominium Board (if it is the responsibility of the Condominium Board pursuant to the Condominium Documents)) all repairs to the Properties, above grade and below grade, interior and exterior, structural and nonstructural, ordinary and extraordinary, unforeseen and foreseen except where the failure to so comply would not reasonably be expected to have and does not have a Material Adverse Effect. All repairs made by Mortgage Borrower shall be made in a good and workmanlike manner, shall be equal or better in quality and class to the original work and shall comply with all applicable Legal Requirements and insurance requirements. The Improvements and the Personal Property shall not be removed, demolished or other than in accordance with the provisions of Section 5.21, materially altered (except for normal replacement of the Personal Property) without the prior written consent of Lender, which consent shall not be unreasonably withheld, conditioned or delayed. If under applicable zoning provisions the use of all or any portion of any Individual the Property is or shall become a nonconforming use, Borrower will not, and will not cause or permit Mortgage Borrower to, cause or permit the nonconforming use to be discontinued or the nonconforming Improvement to be abandoned without the express prior written consent of Lender. Borrower shall operate the applicable Individual Properties in accordance with the terms and provisions of the applicable O&M Program.
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Samples: Senior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)
Maintenance and Use of Property. Borrower shall cause Mortgage Borrower and/or Operating Lessee to cause the Properties Property to be maintained in a good, safe and insurable condition and in compliance with all applicable Legal Requirements, and shall promptly cause Mortgage Borrower to make (and shall promptly make or cause the Condominium Board (if it is the responsibility of the Condominium Board pursuant to the Condominium Documents)) all repairs to the Properties, above grade and below grade, interior and exterior, structural and nonstructural, ordinary and extraordinary, unforeseen and foreseen except where the failure to so comply would not reasonably be expected to have and does not have a Material Adverse Effect. All repairs made by Mortgage Borrower shall be made in a good and workmanlike manner, shall be equal or better in quality and class to the original work and shall comply with all applicable Legal Requirements and insurance requirements. The Improvements and the Personal Property shall not be removed, demolished or other than in accordance with the provisions of Section 5.21, materially altered (except for normal replacement of the Personal Property) without the prior written consent of Lender, which consent shall not be unreasonably withheld, conditioned or delayed. If under applicable zoning provisions the use of all or any portion of any Individual the Property is or shall become a nonconforming use, Borrower will not, and will not cause or permit Mortgage Borrower to, cause or permit the nonconforming use to be discontinued or the nonconforming Improvement to be abandoned without the express prior written consent of Lender. Borrower shall cause Mortgage Borrower to operate the applicable Individual Properties in accordance with the terms and provisions of the applicable O&M Program.
Appears in 1 contract
Samples: Senior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)
Maintenance and Use of Property. Borrower shall cause the Properties Property to be maintained in a good, safe and insurable condition and in compliance with all applicable Legal Requirements, and shall promptly make all repairs to the PropertiesProperty, above grade and below grade, interior and exterior, structural and nonstructural, ordinary and extraordinary, unforeseen and foreseen except where the failure to so comply would not reasonably be expected to have and does not have a Material Adverse Effect. All repairs made by Borrower shall be made in a good and workmanlike manner, shall be equal comparable or better in quality and class to the original work and shall comply with all applicable Legal Requirements and insurance requirements. The Improvements and the Personal Property shall not be removed, demolished or other than in accordance with the provisions of Section 5.21, materially altered (except for normal replacement of the Personal Property) without the prior written consent of Lender, which consent shall not be unreasonably withheld, conditioned or delayed. If under applicable zoning provisions the use of all or any portion of any Individual the Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or the nonconforming Improvement to be abandoned without the express prior written consent of Lender. Borrower , which consent shall operate the applicable Individual Properties in accordance with the terms and provisions of the applicable O&M Programnot be unreasonably withheld, conditioned or delayed.
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Maintenance and Use of Property. Borrower shall cause Mortgage Borrower and/or Operating Lessee to cause the Properties Property to be maintained in a good, safe and insurable condition and in compliance with all applicable Legal Requirements, and shall promptly cause Mortgage Borrower to make all repairs to the Properties, above grade and below grade, interior and exterior, structural and nonstructural, ordinary and extraordinary, unforeseen and foreseen except where the failure to so comply would not reasonably be expected to have and does not have a Material Adverse Effect. All repairs made by Mortgage Borrower shall be made in a good and workmanlike manner, shall be equal or better in quality and class to the original work and shall comply with all applicable Legal Requirements and insurance requirements. The Improvements and the Personal Property shall not be removed, demolished or other than in accordance with the provisions of Section 5.21, materially altered (except for normal replacement of the Personal Property) without the prior written consent of Lender, which consent shall not be unreasonably withheld, conditioned or delayed. If under applicable zoning provisions the use of all or any portion of any Individual the Property is or shall become a nonconforming use, Borrower will not, and will not cause or permit Mortgage Borrower to, cause or permit the nonconforming use to be discontinued or the nonconforming Improvement to be abandoned without the express prior written consent of Lender. Borrower shall operate the applicable Individual Properties in accordance with the terms and provisions of the applicable O&M Program.
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Samples: Senior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)
Maintenance and Use of Property. Borrower shall cause (or shall cause Mortgage Borrower and/or Operating Lessee to cause) the Properties to be maintained in a good, safe and insurable condition and in compliance with all applicable Legal Requirements, and shall promptly (or shall promptly cause Mortgage Borrower and/or Operating Lessee to) make all repairs to the Properties, above grade and below grade, interior and exterior, structural and nonstructural, ordinary and extraordinary, unforeseen and foreseen except where the failure to so comply would not reasonably be expected to have and does not have a Material Adverse Effect. All repairs made (or caused to be made) by Borrower Borrower, Mortgage Borrower, or Operating Lessee shall be made in a good and workmanlike manner, shall be equal or better in quality and class to the original work and shall comply with all applicable Legal Requirements and insurance requirements. The Improvements and the Personal Property shall not be removed, demolished or other than in accordance with the provisions of Section 5.21, materially altered (except for normal replacement of the Personal Property) without the prior written consent of Lender, which consent shall not be unreasonably withheld, conditioned or delayed. If under applicable zoning provisions the use of all or any portion of any Individual Property is or shall become a nonconforming use, Borrower will not (and will not cause or permit Mortgage Borrower to) cause or permit the nonconforming use to be discontinued or the nonconforming Improvement to be abandoned without the express prior written consent of Lender. Borrower shall operate the applicable Individual Properties in accordance with the terms and provisions of the applicable O&M Program.
Appears in 1 contract
Samples: Mezzanine a Loan Agreement (Ashford Hospitality Trust Inc)
Maintenance and Use of Property. Borrower shall cause Mortgage Borrower and/or Operating Lessee to cause the Properties Property to be maintained in a good, safe and insurable condition and in compliance with all applicable Legal Requirements, and shall promptly cause Mortgage Borrower to make (and shall promptly make or cause each Condominium Board (if it is the responsibility of such Condominium Board pursuant to the applicable Condominium Documents)) all repairs to the Properties, above grade and below grade, interior and exterior, structural and nonstructural, ordinary and extraordinary, unforeseen and foreseen except where the failure to so comply would not reasonably be expected to have and does not have a Material Adverse Effect. All repairs made by Mortgage Borrower shall be made in a good and workmanlike manner, shall be equal or better in quality and class to the original work and shall comply with all applicable Legal Requirements and insurance requirements. The Improvements and the Personal Property shall not be removed, demolished or other than in accordance with the provisions of Section 5.21, materially altered (except for normal replacement of the Personal Property) without the prior written consent of Lender, which consent shall not be unreasonably withheld, conditioned or delayed. If under applicable zoning provisions the use of all or any portion of any Individual the Property is or shall become a nonconforming use, Borrower will not, and will not cause or permit Mortgage Borrower to, cause or permit the nonconforming use to be discontinued or the nonconforming Improvement to be abandoned without the express prior written consent of Lender. Borrower shall cause Mortgage Borrower to operate the applicable Individual Properties in accordance with the terms and provisions of the applicable O&M Program.
Appears in 1 contract
Samples: Senior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)
Maintenance and Use of Property. Borrower shall cause the Properties each Individual Property to be maintained in a good, good and safe and insurable condition and repair, subject to ordinary wear and tear, and in compliance with all applicable Legal Requirements, and shall promptly make all such replacements and repairs as Borrower deems necessary to keep the Property in such condition. However, so long as no Event of Default is continuing, Lender shall have no right to require Borrower to make alterations or repairs to the Properties, above grade and below grade, interior and exterior, structural and nonstructural, ordinary and extraordinary, unforeseen and foreseen except where the failure to so comply would not reasonably be expected to have and does not have a Material Adverse EffectProperty. All repairs made by Borrower shall be made in a good and workmanlike manner, shall be equal or better in quality and class to the original work and shall comply with all applicable Legal Requirements and insurance requirements. The Improvements and the Personal Property shall not be removed, demolished or other than in accordance with the provisions of Section 5.21, materially altered (except for normal replacement of the Personal Property) without the prior written consent of Lender, which consent shall not be unreasonably withheld, conditioned or delayed. If under applicable zoning provisions the use of all or any portion of any Individual the Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or the nonconforming Improvement to be abandoned without the express prior written consent of Lender. Borrower shall operate the applicable Individual Properties in accordance with the terms and provisions of the applicable O&M Program.
Appears in 1 contract
Samples: Loan Agreement (Griffin Capital Essential Asset REIT, Inc.)
Maintenance and Use of Property. Borrower shall cause Senior Mezzanine Borrower to cause Mortgage Borrower and/or Operating Lessee to cause the Properties Property to be maintained in a good, safe and insurable condition and in compliance with all applicable Legal Requirements, and shall promptly cause Senior Mezzanine Borrower to cause Mortgage Borrower to make all repairs to the Properties, above grade and below grade, interior and exterior, structural and nonstructural, ordinary and extraordinary, unforeseen and foreseen except where the failure to so comply would not reasonably be expected to have and does not have a Material Adverse Effect. All repairs made by Mortgage Borrower shall be made in a good and workmanlike manner, shall be equal or better in quality and class to the original work and shall comply with all applicable Legal Requirements and insurance requirements. The Improvements and the Personal Property shall not be removed, demolished or other than in accordance with the provisions of Section 5.21, materially altered (except for normal replacement of the Personal Property) without the prior written consent of Lender, which consent shall not be unreasonably withheld, conditioned or delayed. If under applicable zoning provisions the use of all or any portion of any Individual the Property is or shall become a nonconforming use, Borrower will not, and will not cause or permit Mortgage Borrower to, cause or permit the nonconforming use to be discontinued or the nonconforming Improvement to be abandoned without the express prior written consent of Lender. Borrower shall cause Senior Mezzanine Borrower to cause Mortgage Borrower to operate the applicable Individual Properties in accordance with the terms and provisions of the applicable O&M Program.
Appears in 1 contract
Samples: Junior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)
Maintenance and Use of Property. Borrower shall cause (or shall cause Mortgage Borrower, Mezzanine A Borrower and/or Operating Lessee to cause) the Properties to be maintained in a good, safe and insurable condition and in compliance with all applicable Legal Requirements, and shall promptly (or shall promptly cause Mortgage Borrower and/or Operating Lessee to) make all repairs to the Properties, above grade and below grade, interior and exterior, structural and nonstructural, ordinary and extraordinary, unforeseen and foreseen except where the failure to so comply would not reasonably be expected to have and does not have a Material Adverse Effect. All repairs made (or caused to be made) by Borrower, Mezzanine A Borrower, Mortgage Borrower or Operating Lessee shall be made in a good and workmanlike manner, shall be equal or better in quality and class to the original work and shall comply with all applicable Legal Requirements and insurance requirements. The Improvements and the Personal Property shall not be removed, demolished or other than in accordance with the provisions of Section 5.21, materially altered (except for normal replacement of the Personal Property) without the prior written consent of Lender, which consent shall not be unreasonably withheld, conditioned or delayed. If under applicable zoning provisions the use of all or any portion of any Individual Property is or shall become a nonconforming use, Borrower will not (and will not cause or permit Mortgage Borrower or Mezzanine A Borrower to) cause or permit the nonconforming use to be discontinued or the nonconforming Improvement to be abandoned without the express prior written consent of Lender. Borrower shall operate the applicable Individual Properties in accordance with the terms and provisions of the applicable O&M Program.
Appears in 1 contract
Samples: Mezzanine B Loan Agreement (Ashford Hospitality Trust Inc)
Maintenance and Use of Property. Borrower shall cause (or shall cause Operating Lessee to cause) the Properties to be maintained in a good, safe and insurable condition and in compliance with all applicable Legal Requirements, and shall promptly make all repairs to the Properties, above grade and below grade, interior and exterior, structural and nonstructural, ordinary and extraordinary, unforeseen and foreseen except where the failure to so comply would not reasonably be expected to have and does not have a Material Adverse Effect. All repairs made (or caused to be made) by Borrower or Operating Lessee shall be made in a good and workmanlike manner, shall be equal or better in quality and class to the original work and shall comply with all applicable Legal Requirements and insurance requirements. The Improvements and the Personal Property shall not be removed, demolished or other than in accordance with the provisions of Section 5.21, materially altered (except for normal replacement of the Personal Property) without the prior written consent of Lender, which consent shall not be unreasonably withheld, conditioned or delayed. If under applicable zoning provisions the use of all or any portion of any Individual Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or the nonconforming Improvement to be abandoned without the express prior written consent of Lender. Borrower shall operate the applicable Individual Properties in accordance with the terms and provisions of the applicable O&M Program.
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Maintenance and Use of Property. Borrower shall cause Senior Mezzanine Borrower to cause Mortgage Borrower and/or Operating Lessee to cause the Properties Property to be maintained in a good, safe and insurable condition and in compliance with all applicable Legal Requirements, and shall promptly cause Senior Mezzanine Borrower to cause Mortgage Borrower to make all repairs to the Properties, above grade and below grade, interior and exterior, structural and nonstructural, ordinary and extraordinary, unforeseen and foreseen except where the failure to so comply would not reasonably be expected to have and does not have a Material Adverse Effect. All repairs made by Mortgage Borrower shall be made in a good and workmanlike manner, shall be equal or better in quality and class to the original work and shall comply with all applicable Legal Requirements and insurance requirements. The Improvements and the Personal Property shall not be removed, demolished or other than in accordance with the provisions of Section 5.21, materially altered (except for normal replacement of the Personal Property) without the prior written consent of Lender, which consent shall not be unreasonably withheld, conditioned or delayed. If under applicable zoning provisions the use of all or any portion of any Individual the Property is or shall become a nonconforming use, Borrower will not, and will not cause or permit Mortgage Borrower to, cause or permit the nonconforming use to be discontinued or the nonconforming Improvement to be abandoned without the express prior written consent of Lender. Borrower shall cause Senior Mezzanine Borrower to cause Mortgage Borrower to operate the applicable Individual Properties in accordance with the terms and provisions of the applicable O&M Program.
Appears in 1 contract
Samples: Junior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)