Common use of Maintenance of Real Property Clause in Contracts

Maintenance of Real Property. Borrower and each applicable Loan Party shall: (a) Keep all Real Property and systems useful and necessary in the business of Borrower and such Loan Party in good working order and condition, ordinary wear and tear excepted. (b) Maintain all rights of way, easements, grants, privileges, licenses, certificates, and permits necessary or advisable for the use of any Real Property and not, without the prior written consent of the Administrative Agent, consent to any material public or private restriction as to the use of any Real Property. (c) Preserve and protect the Lien status of each respective Mortgage and, if any Lien (other than a Permitted Lien) is asserted against a Mortgaged Real Property, promptly and at its expense, give the Administrative Agent and the Collateral Agent a detailed written notice of such Lien and pay the underlying claim in full or take such other action so as to cause it to be released or bonded over in a manner satisfactory to the Administrative Agent.

Maintenance of Real Property. Borrower and each applicable Loan Party shall: (a) Keep all Real Property and systems useful and necessary in the business of Borrower and such Loan Party in good working order and condition, ordinary wear and tear excepted. (b) Maintain all rights of way, easements, grants, privileges, licenses, certificates, and permits necessary or advisable for the use of any Real Property and not, without the prior written consent of the Administrative Agent and the Collateral Agent, consent to any material public or private restriction as to the use of any Real Property. (c) Preserve and protect the Lien status of each respective Mortgage and, if any Lien (other than a Permitted Lien) is asserted against a Mortgaged Real Property, promptly and at its expense, give the Administrative Agent and the Collateral Agent a detailed written notice of such Lien and pay the underlying claim in full or take such other action so as to cause it to be released or bonded over in a manner satisfactory to the Administrative Agent and the Collateral Agent.