Common use of Maintenance of Property and Insurance Clause in Contracts

Maintenance of Property and Insurance. (a) The Borrower shall (i) keep all its property and assets in good working order and condition to the extent necessary to ensure that its business can be conducted properly at all times, (ii) operate, maintain and repair the Project or cause the Project to be operated, maintained and repaired in accordance with the standards set forth in the O&M Agreement, manufacturer’s recommendations and insurance requirements, (iii) possess or have access to all equipment necessary for the operation of the Project and maintain such spare parts and inventory or renew and replace such equipment, in each case as consistent with the Transaction Documents and the “reasonable and prudent operator” standard, and (iv) maintain at the Project Site a complete set of plans and specifications for the Project.

Appears in 2 contracts

Samples: Common Agreement (Beacon Power Corp), Common Agreement (Beacon Power Corp)

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Maintenance of Property and Insurance. (a) The Borrower shall (i1) keep all its property and assets in good working order and condition to the extent necessary to ensure that its business can be conducted properly at all times, (ii) operate, maintain and repair the Project or cause the Project to be operated, maintained and repaired in accordance with the standards set forth in the O&M AgreementAgreements, manufacturer’s recommendations requirements necessary to maintain warranties and insurance requirements, (iii) possess or have access to all equipment necessary for the operation of the Project and maintain such spare parts and inventory or renew and replace such equipment, in each case as consistent with the Transaction Documents and the “reasonable and prudent operator” standard, and (iv) maintain at the Project Site a complete set of plans and specifications for the Project.

Appears in 1 contract

Samples: Common Agreement (First Wind Holdings Inc.)

Maintenance of Property and Insurance. (a) The Borrower shall (i) keep all its property and assets in good working order and condition to the extent necessary to ensure that its business can be conducted properly at all times, (ii) possess all equipment and maintain such spare parts and inventory (or renew and replace such equipment) necessary for the operation of the Project, and operate, maintain and or repair the Project Project, or cause the Project to be operated, maintained and repaired repaired, in each case in accordance with the standards set forth in the O&M Management Services Agreement, the other Transaction Documents, manufacturer’s recommendations and 's recommendations, insurance requirements, (iii) possess or have access to all equipment necessary for the operation of the Project and maintain such spare parts and inventory or renew and replace such equipment, in each case as consistent with the Transaction Documents requirements and the "reasonable and prudent operator" standard, and (iviii) maintain or cause to be maintained at the Project Site a complete set of plans and specifications for the Project.

Appears in 1 contract

Samples: Loan Guarantee Agreement (Us Geothermal Inc)

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Maintenance of Property and Insurance. (a) The Borrower shall (i) keep all its property and assets in good working order and condition to the extent necessary to ensure that its business can be conducted properly at all times, (ii) operate, maintain and repair the Project or cause the Project to be operated, maintained and repaired in accordance with the standards set forth in the O&M Agreement, manufacturer’s recommendations and insurance requirements, (iii) possess or have access to all equipment necessary for the operation of the Project and maintain such spare parts and inventory or renew and replace such equipment, in each case as consistent with the Transaction Documents and the “reasonable and prudent operator” standard, and (iv) maintain at the Project Front-End Site a complete set of plans and specifications for the Project.

Appears in 1 contract

Samples: Common Agreement (Solyndra, Inc.)

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