Maintenance Covenant Sample Clauses

Maintenance Covenant. The Lessee will: (1) Furnish all labor and parts required for maintaining, repairing, and replacing component parts of the Equipment to keep it in good operating condition and appearance; (2) Use, operate, maintain, and store the Equipment in a careful and proper manner; (3) Protect the Equipment from deterioration; (4) Comply with the manufacturer's operating procedures and warranty restrictions and all laws, ordinances, and regulations applicable to the Equipment or its use and in compliance with the insurance policies required to be maintained thereunder; (5) Put the Equipment only to the use contemplated by the manufacturer; and (6) Maintain accurate and complete records of all repairs and maintenance of the Equipment and allow the Lessor to inspect those records at any time. (7) Comply with the maintenance requirements of any maintenance schedule recommended by the manufacturer or attached as a part of this agreement. The Lessee will not make any alterations, additions, or improvements to the Equipment without the Lessor's prior written consent, which consent shall not be unreasonably withheld. All repairs, replacement parts, additions, alterations, and improvements made to the Equipment by the Lessee will be considered to be the Lessor's property and subject to the terms of this Agreement.

Maintenance Covenant. A covenant by any Obligor to comply with one or more financial covenants during each reporting period, whether or not such Obligor has taken any specified action.

Maintenance Covenant. Each Party represents, warrants and covenants that nothing has or will be done or be omitted to be done that may result in any of the said insurance policies being or becoming void, voidable or unenforceable during the Term or any Renewal Term of this Agreement.

Maintenance Covenant. The Issuer has failed to comply with the Maintenance Covenant unless a Cure Amount has been paid to the Cure Account within twenty Business Days of a delivery of the relevant Compliance Certificate evidencing the breach, in accordance with Clause 13.5 (Equity cure).

Maintenance Covenant. The Entity shall maintain the Property, including but not limited to, lawn maintenance, until such time that the Property is conveyed to a low or moderate income individuals for residential purposes.

Maintenance Covenant. The Dealer shall maintain the Site and all improvements thereon in good condition and in accordance with the custom and practice generally applicable to a “first class” new automobile dealership, and shall keep the Site free from any accumulation of debris or waste materials. The Dealer shall also maintain the landscaping required to be planted under the Auto Center CC&R’s in a healthy condition. If at any time the Dealer fails to maintain said landscaping, and said condition is not corrected after expiration of thirty (30) days from the date of written notice from the City, either the City or the City may perform the necessary landscape maintenance and the Dealer shall pay such costs as are reasonably incurred for such maintenance.

Maintenance Covenant. 37 5.18 Year 2000 Problems......................................................... 37 5.19

Maintenance Covenant. The Lessee will: (1) Furnish all labor and parts required for maintaining, repairing, and replacing component parts of the property to keep it in good operating condition and appearance; (2) Use, operate, maintain, and store the property in a careful and proper manner; (3) Protect the property from deterioration; (4) Comply with the manufacturer's operating procedures and warranty restrictions and all laws, ordinances, and regulations applicable to the property or its use and in compliance with the insurance policies required to be maintained thereunder;

Maintenance Covenant. From the Closing through the second anniversary of the Closing (the “Net Worth Survival Period”), Seller shall cause 8/9 Transferee, and Purchaser shall cause Post-Transfer AFE, to maintain a Net Worth of not less than $10,000,000.00. Notwithstanding anything to the contrary provided herein, each of Seller and Purchaser shall have the right at any time during the Net Worth Survival Period to provide Escrow Agent with cash or a Letter of Credit in the amount of $10,000,000, in which case such party providing the cash or Letter of Credit shall have no further obligations under this Article XX; provided, that if either party has delivered a Letter of Credit, such party shall have no further obligations as aforesaid so long as such Letter of Credit remains in effect through the end of the Net Worth Survival Period or so long as the Escrow Agent draws on any such Letter of Credit and holds cash proceeds in-lieu of such Letter of Credit. Any cash or Letter of Credit delivered to Escrow Agent shall be held by Escrow Agent pursuant to an escrow agreement in form reasonably satisfactory to the parties. If any party provides cash or a Letter of Credit hereunder, such cash or Letter of Credit (less any amounts drawn down under the escrow agreement) shall be refunded to such party at the expiration of the Net Worth Survival Period. “Net Worth” means (a) in the case of Post-Transfer AFE, net worth computed in accordance with generally accepted accounting principles and (b) in the case of 8/9 Transferee, the value of the Excluded Real Property and any improvements now or hereafter built thereon less any debt secured thereby. “Letter of Credit” means an irrevocable, unconditional letter of credit, in form approved by the party receiving such letter of credit (which approval shall not be unreasonably withheld, conditioned or delayed), naming Escrow Agent as beneficiary, issued by a bank organized or licensed under the laws of the United States, or any state thereof, having (i) a net worth computed in accordance with generally accepted accounting principles in excess of $1,500,000,000 and (ii) a senior unsecured debt rating of “A” or better as rated by Standard and Poors or ‘A-2’ or better as rated by ▇▇▇▇▇’▇, and providing for draws by sight draft in New York or New Jersey, having a term of not less than 60 days. Seller agrees to indemnify, defend and hold harmless Purchaser, Post-Transfer AFE and the other entities constituting Property Owner (as reconstituted upon Closi...