Common use of Maintenance and Use Clause in Contracts

Maintenance and Use. Borrower will keep, and will cause its Consolidated Subsidiaries to keep, the Real Estate in first class order, repair, operating condition and appearance, causing all necessary repairs, renewals, replacements, additions and improvements to be promptly made, and will not allow any of the Real Estate to be misused, abused or wasted or to deteriorate. Borrower will not and will not allow its Consolidated Subsidiaries to, without the prior written consent of Administrative Agent, (a) remove from any Unencumbered Property any fixtures or personal property except such as is worn or obsolete or is replaced by Borrower or one of its Consolidated Subsidiaries by an article of equal suitability and value, owned by Borrower or one of its Consolidated Subsidiaries, free and clear of any Lien except Permitted Liens or any other liens permitted under this Agreement; (b) make any structural alteration to any Unencumbered Property after completion of the Improvements thereon if such alteration impairs the value thereof or any other alteration thereto which impairs the value thereof; (c) initiate or permit any zoning reclassification of any Unencumbered Property, seek any variance under existing zoning ordinances, or use or permit the use of any Unencumbered Property in a manner that is a nonconforming use under applicable zoning ordinances or other Legal Requirements, except for any such actions taken in the ordinary course of Borrower's business and which would not result in a Pool Violation; (d) impose any easement, restrictive covenant or encumbrance upon any Unencumbered Property, execute or file any subdivision plat or condominium declaration affecting any Unencumbered Property, or consent to the annexation of any Unencumbered Property to any municipality, other than in the ordinary course of business or which would not result in a Pool Violation; (e) perform, or consent to, any drilling or exploration for or extraction, removal or production of any mineral, hydrocarbon, gas, natural element, compound or substance (including sand and gravel) from the surface or subsurface of any Unencumbered Property, or (f) use or occupy or allow the use or occupancy of any Unencumbered Property in any manner that violates any Legal Requirement, constitutes a public or private nuisance, or makes void, voidable or cancelable, or increases the premium of, any insurance, if the taking of any such action could result in a Pool Violation.

Appears in 2 contracts

Samples: Credit Agreement (Camden Property Trust), Credit Agreement (Camden Property Trust)

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Maintenance and Use. Borrower will keep, and will cause its Consolidated Subsidiaries to keep, keep the Real Estate Property in first class good order, repair, operating condition and appearance, ordinary wear and tear excepted, causing all necessary repairs, renewals, replacements, additions and improvements to be promptly made, and will not allow any of the Real Estate Property to be misused, abused or wasted or to deteriorate. Borrower will not and will not allow its Consolidated Subsidiaries tonot, without the prior written consent of Administrative AgentLender, (a) remove from any Unencumbered the Property any fixtures or personal property covered by the Loan Documents except such as is worn or obsolete or is replaced by Borrower or one of its Consolidated Subsidiaries by an article of equal suitability and value, owned by Borrower or one of its Consolidated SubsidiariesBorrower, free and clear of any Lien lien or security interest, except Permitted Liens or any other liens permitted under this Agreementthose created by the Loan Documents; (b) make any structural alteration to any Unencumbered the Property after completion of the Improvements thereon if such alteration impairs the value thereof or any other alteration thereto which impairs the value thereof; (c) initiate or permit any zoning reclassification of any Unencumbered the Property, seek any variance under existing zoning ordinances, or use or permit the use of any Unencumbered the Property in a manner that is a nonconforming use under applicable zoning ordinances or other Legal Requirements, except for any such actions taken in the ordinary course of Borrower's business and which would not result in a Pool Violation; (d) impose any easement, restrictive covenant or encumbrance upon the Property (other than any Unencumbered PropertyPermitted Encumbrance), execute or file any subdivision plat or condominium declaration affecting any Unencumbered the Property, or consent to the annexation of any Unencumbered the Property to any municipality, other than in the ordinary course of business or which would not result in a Pool Violation; (e) perform, or consent to (to the extent Borrower has the right to perform or consent to), any drilling or exploration for or extraction, removal or production of any mineral, hydrocarbon, gas, natural element, compound or substance (including sand and gravel) from the surface or subsurface of any Unencumbered Propertythe Land, or (f) use or occupy or allow the use or occupancy of any Unencumbered the Property in any manner that which violates any Legal RequirementRequirement (the violation of which would constitute a Material Adverse Effect), constitutes a public or private nuisance, or makes void, voidable or cancelable, or increases the premium of, any insurance, if the taking of any such action could result in a Pool Violation.

Appears in 1 contract

Samples: Construction Loan Agreement (Medcath Inc)

Maintenance and Use. Borrower will keep, and will cause its Consolidated Subsidiaries to keep, the Real Estate Property in first class order, repair, operating condition and appearance, causing all necessary repairs, renewals, replacements, additions and improvements to be promptly made, and will not allow any of the Real Estate Property to be misused, abused or wasted or to deteriorate. Borrower will not not, and will not allow its Consolidated Subsidiaries to, without the prior written consent of Administrative Agent, (a) remove from any Unencumbered Property the Pool any fixtures or personal property covered by the Loan Documents except such as is worn or obsolete or is replaced by Borrower or one of its Consolidated Subsidiaries by an article of equal suitability and value, owned by Borrower or one of its Consolidated Subsidiaries, free and clear of any Lien lien or security interest, except Permitted Liens or any other liens permitted under this Agreementthose created by the Loan Documents; (b) make any structural alteration to any Unencumbered Property the Pool after completion of renovation of the Improvements thereon if such alteration impairs the value thereof or any other alteration thereto which impairs the value thereof; (c) initiate or permit any zoning reclassification of any Unencumbered Propertythe Pool, seek any variance under existing zoning ordinances, or use or permit the use of any Unencumbered Property the Pool in a manner that is a nonconforming use under applicable zoning ordinances or other Legal Requirements, except for any such actions taken in the ordinary course of Borrower's business and which would not result in a Pool Violation; (d) impose any easement, restrictive covenant or encumbrance upon any Unencumbered Propertythe Pool, execute or file any subdivision plat or condominium declaration affecting any Unencumbered Propertythe Pool, or consent to the annexation of any Unencumbered Property the Pool to any municipality, other than in the ordinary course of business or which would not result in a Pool Violation; (e) perform, or consent to, any drilling or exploration for or extraction, removal or production of any mineral, hydrocarbon, gas, natural element, compound or substance (including sand and gravel) from the surface or subsurface of any Unencumbered Propertythe Land in the Pool, or (f) use or occupy or allow the use or occupancy of any Unencumbered Property the Pool in any manner that Restatement and Amendment of Loan Agreement Dated as of November 25, 1997 which violates any Legal Requirement, constitutes a public or private nuisance, or makes void, voidable or cancelable, or increases the premium of, any insurance, if the taking of any such action could result in a Pool Violation.

Appears in 1 contract

Samples: Loan Agreement (Camden Property Trust)

Maintenance and Use. Borrower will keep, and will cause its Consolidated Subsidiaries to keep, the Real Estate Property in first class order, repair, operating condition and appearance, causing all necessary repairs, renewals, replacements, additions and improvements to be promptly made, and will not allow any of the Real Estate Property to be misused, abused or wasted or to deteriorate. Borrower will not not, and will not allow its Consolidated Subsidiaries to, without the prior written consent of Administrative Agent, (a) remove from any Unencumbered Property the Pool any fixtures or personal property covered by the Loan Documents except such as is worn or obsolete or is replaced by Borrower or one of its Consolidated Subsidiaries by an article of equal suitability and value, owned by Borrower or one of its Consolidated Subsidiaries, free and clear of any Lien lien or security interest, except Permitted Liens or any other liens permitted under this Agreementthose created by the Loan Documents; (b) make any structural alteration to any Unencumbered Property the Pool after completion of renovation of the Improvements thereon if such alteration impairs the value thereof or any other alteration thereto which impairs the value thereof; (c) initiate or permit any zoning reclassification of any Unencumbered Propertythe Pool, seek any variance under existing zoning ordinances, or use or permit the use of any Unencumbered Property the Pool in a manner that is a nonconforming use under applicable zoning ordinances or other Legal Requirements, except for any such actions taken in the ordinary course of Borrower's business and which would not result in a Pool Violation; (d) impose any easement, restrictive covenant or encumbrance upon any Unencumbered Propertythe Pool, execute or file any subdivision plat or condominium declaration affecting any Unencumbered Propertythe Pool, or consent to the annexation of any Unencumbered Property the Pool to any municipality, other than in the ordinary course of business or which would not result in a Pool Violation; (e) perform, or consent to, any drilling or exploration for or extraction, removal or production of any mineral, hydrocarbon, gas, natural element, compound or substance (including sand and gravel) from the surface or subsurface of any Unencumbered Propertythe Land in the Pool, or (f) use or occupy or allow the use or occupancy of any Unencumbered Property the Pool in any manner that which violates any Legal Requirement, constitutes a public or private nuisance, or makes void, voidable or cancelable, or increases the premium of, any insurance, if the taking of any such action could result in a Pool Violation.

Appears in 1 contract

Samples: Loan Agreement (Camden Property Trust)

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Maintenance and Use. Borrower will keep, and will cause its Consolidated Subsidiaries to keep, the Real Estate in first class order, repair, operating condition and appearance, causing all necessary repairs, renewals, replacements, additions and improvements to be promptly made, and will not allow any of the Real Estate to be misused, abused or wasted or to deteriorate. Borrower will not and will not allow its Consolidated Subsidiaries to, without the prior written consent of Administrative Agent, (a) remove from any Unencumbered Property any fixtures or personal property except such as is worn or obsolete or is replaced by Borrower or one of its Consolidated Subsidiaries by an article of equal suitability and value, owned by Borrower or one of its Consolidated Subsidiaries, free and clear of any Lien except Permitted Liens or any other liens permitted under this Agreement; (b) make any structural alteration to any Unencumbered Property after completion of the Improvements thereon if such alteration impairs the value thereof or any other alteration thereto which impairs the value thereof; (c) initiate or permit any zoning reclassification of any Unencumbered Property, seek any variance under existing zoning ordinances, or use or permit the use of any Unencumbered Property in a manner that is a nonconforming use under applicable zoning ordinances or other Legal Requirements, except for any such actions taken in the ordinary course of Borrower's ’s business and which would not result in a Pool Violation; (d) impose any easement, restrictive covenant or encumbrance upon any Unencumbered Property, execute or file any subdivision plat or condominium declaration affecting any Unencumbered Property, or consent to the annexation of any Unencumbered Property to any municipality, other than in the ordinary course of business or which would not result in a Pool Violation; (e) perform, or consent to, any drilling or exploration for or extraction, removal or production of any mineral, hydrocarbon, gas, natural element, compound or substance (including sand and gravel) from the surface or subsurface of any Unencumbered Property, or (f) use or occupy or allow the use or occupancy of any Unencumbered Property in any manner that violates any Legal Requirement, constitutes a public or private nuisance, or makes void, voidable or cancelable, or increases the premium of, any insurance, if the taking of any such action could result in a Pool Violation.

Appears in 1 contract

Samples: Credit Agreement (Camden Property Trust)

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