Common use of Maintenance of Property and Leases Clause in Contracts

Maintenance of Property and Leases. Each Covered Person shall maintain in good condition and working order, and repair and replace as required, all buildings, equipment, machinery, fixtures and other real and personal property whose useful economic life has not elapsed and which are necessary for the ordinary conduct of the business of such Covered Person, except where the failure to so maintain, repair and replace such property would not be reasonably likely to have a Material Adverse Effect. Each Covered Person shall maintain in good standing and free of defaults all of its leases of buildings, equipment, machinery, fixtures and other real and personal property whose useful economic life has not elapsed and which are necessary for the ordinary conduct of the business of such Covered Person, except where the failure to so maintain such leases would not be reasonably likely to have a Material Adverse Effect.

Maintenance of Property and Leases. Each Covered Person shall maintain Maintain in good condition and working order, and repair and replace as required, all buildings, equipment, machinery, fixtures and other real and personal property whose useful economic life has not elapsed and which are is necessary for the ordinary conduct of the business of such Covered Person, except where the failure to so maintain, repair and replace such property would not be maintain which is reasonably likely to have a Material Adverse Effect. Each Covered Person shall , and maintain in good standing and free of defaults all of its leases of buildings, equipment, machinery, fixtures and other real and personal property whose useful economic life has not elapsed and which are is necessary for the ordinary conduct of the business of such Covered Person, except where the failure to so maintain such leases would not be which is reasonably likely to have a Material Adverse Effect.