Maintenance of Project. (a) After completion of the Project, the Borrower will keep the buildings, parking areas, roads and walkways, recreational facilities, landscaping and all other improvements of any kind now or hereafter erected as part of the Project in good condition and repair (normal wear and tear excepted), will not commit or suffer any waste, and will not do or suffer to be done anything which would or could increase the risk of fire or other hazard to the Project or any part thereof (other than regular and normal operations) or which would or could result in the cancellation of any insurance policy carried with respect to the Project.
(b) The Borrower will not remove, demolish or alter the structural character of any improvement (other than as part of the initial improvement and rehabilitation of the Project or any repair or restoration following a fire or other casualty) located on the Project without the written consent of the Significant Bondholder, if any, and the Financial Monitor.
(c) If the Project or any part thereof incurs any loss or damage in excess of $50,000 by fire, condemnation or other cause, the Borrower will give immediate written notice thereof to the Issuer (if requested), the Financial Monitor, the Trustee and the Significant Bondholder and each Owner requesting the same at the address supplied to the Trustee by such Owner or its authorized representative, which notice shall describe the damage or loss, estimated time to restore or repair the Project, the estimated cost of such repair or replacement and the source of amounts needed to repair or replace the Project.
(d) The Issuer, the Servicer, the Financial Monitor, and the Significant Bondholder or their representatives are hereby authorized to enter upon and inspect the Project at any time during normal business hours upon reasonable prior written notice and subject to the occupancy rights of tenants and without unreasonably interfering in the rehabilitation of the Project; provided that, no notice shall be required during any period while an uncured Event of Default shall exist.
(e) The Borrower will promptly and materially comply with all valid and binding present and future laws, ordinances, rules and regulations of any governmental authority binding upon the Project or any part thereof.
(f) The Borrower will make the repairs, if any, described in the Project Condition Report within a reasonable time after the delivery of the Property Condition Report.
Maintenance of Project. The Company at its own expense during the Term of this Agreement will keep and maintain the Project in good operating condition. The Company will promptly make, or cause to be made, all repairs, interior and exterior, structural and nonstructural, ordinary and extraordinary, foreseen and unforeseen, that are necessary to keep the Project in good and lawful order and in good operating condition (wear and tear from reasonable use excepted) whether or not such repairs are due to any laws, rules, regulations, or ordinances hereafter enacted which involve a change of policy on the part of the government body enacting the same.
Maintenance of Project. The Issuer shall not be under any obligation to renew, repair, or maintain any portion of the Project or to remove and replace any inadequate, obsolete, worn out, unsuitable, undesirable, or unnecessary portion thereof. The Company, shall maintain, or cause to be maintained, the Project at the expense of the Company. Subject to the provisions of Article VII hereof, the Company, at its own expense, may from time to time make any Additions or Alterations and any modifications, upgrades, replacements and substitutions to the Project that it may deem desirable for its purposes, and expenses incurred in connection with such Additions or Alterations, modifications, upgrades, replacements and substitutions shall be deemed Costs of the Project, unless otherwise elected by the Company pursuant to Section 4.1 hereof. Subject to the provisions of Sections 3.3, 4.1, and 9.7 hereof, such Additions or Alterations and any modifications, upgrades, replacements and substitutions to the Project so made shall become a part of the Project. The Company shall not do, or permit any other Person under its control to do, any work in or about the Project or related to any repair, rebuilding, restoration, replacement, alteration of, or addition to the Project, or any part thereof, unless the Company or such other Person shall have first procured and paid for all requisite municipal and other governmental permits and authorizations. All such work shall be done in a good and workmanlike manner and in compliance with all applicable laws, ordinances, governmental regulations, and requirements. Notwithstanding the foregoing, in the event any part of the Project, or any part thereof, is damaged or destroyed by casualty, the Company’s obligations to repair or replace the Project, or such portion thereof so damaged or destroyed, shall be governed exclusively by Article VII hereof.
Maintenance of Project. During the course of construction and until the time of final acceptance of Improvements, the Developer shall: (1) keep the site free of dirt, stone, mud and other debris; (2) maintain and keep all storm drainage within the site free from accumulation of debris and leaves; and (3) shall utilize a snow fence to protect those areas which will remain undisturbed throughout the construction. "Final Acceptance" of Improvements for the purpose of this provision is deemed to be the date upon which the Improvements are accepted by the Borough and the final maintenance guarantees for the same are posted with the Borough and a resolution of acceptances adopted by the governing body of the Borough. Said maintenance guarantees shall be posted with the Borough for a period of not less than two (2) years in an amount not less than fifteen (15%) percent of the cost of the Improvements.
Maintenance of Project. The Company will at all times make or cause to be made such expenditures by means of renewals, replacements, repairs, maintenance, or otherwise as shall be necessary to maintain, preserve and keep the Project in good repair, physical condition, working order and condition and in a state of good operating efficiency, except that the Company may abandon any portion of the Project if in its opinion the abandonment of such portion is desirable in the proper conduct of its business and in the operation of its properties or is otherwise in its best interests, provided that the Trustee receives a Favorable Opinion of Tax Counsel prior to such abandonment.
Maintenance of Project. The Borrower shall keep and maintain or make arrangements with others to maintain the Project in accordance with the purposes and requirements of the Act and the Code.
Maintenance of Project. Landlord shall have no obligation to fund the entire Capital Reserve Amount by any date during the Term. However, Landlord agrees that the Project shall be operated and maintained in a first-class manner and condition during the Term and shall expend portions of the Capital Reserve Amount from time to time during the Term in order to comply with such obligations.
Maintenance of Project. The Borrower shall keep and maintain or make arrangements with others to maintain the Project in good order and condition and in rentable and tenantable state of repair, and will make or make arrangements with others to make, as and when necessary, all repairs, renewals and replacements, structural and nonstructural, exterior and interior, ordinary and extraordinary, foreseen and unforeseen.
Maintenance of Project. Landlord shall maintain the Common Areas, the Building Systems, all exterior landscaping, the windows in the Building, the mechanical, plumbing and electrical equipment serving the Building, the telephone cable distribution system serving the Building to the telephone terminal on each floor, the common shafts, stacks, pipes, conduits, and ducts containing such equipment and systems and the space containing them, and the structure of the Building and the roof, in reasonably good order and condition, except for ordinary wear and tear, damage by Casualty or condemnation, or damage occasioned solely by the act or omission of Tenant or any other Tenant Parties, which damage shall be repaired by Landlord at Tenant’s expense. Landlord shall have the right, exercised by Landlord in its sole discretion, to utilize portions of the Common Areas from time to time for entertainment, displays, product shows, leasing of kiosks or such other uses that Landlord may determine are desirable.
Maintenance of Project. Developer agrees that, during the Term of this Agreement, it shall, at its own expense, keep, or cause to be kept, the Project and all related Project Elements in a reasonably safe condition, and keep all other improvements forming a privately-owned part of the Project in good repair and in good operating condition, making all necessary repairs thereto and renewals and replacements thereof. Any tangible property purchased or installed with public funding or received in exchange for tangible property purchased or installed with public funding shall become a part of the Project and the Real Property thereof. Developer shall not permit any mechanic’s lien, security interest, or other encumbrance to be established or to remain against the Project for labor or materials furnished in connection with the construction or installation of the Project Elements or any additions, modifications, improvements, repairs, renewals or replacements made by it, provided that if Developer shall notify the City of its intention to do so, Developer may in good faith contest any mechanic’s or other liens filed or established against the Project Elements and such notice shall stay Developer’s obligation to satisfy the contested liens during the period of such contest and any appeal therefrom unless Developer determines or the City shall notify Developer that, in the opinion of the City, by non-payment of any such items, the Developer shall promptly pay and cause to be satisfied and discharged all such unpaid items.
