Common use of Maintenance of the Improvements Clause in Contracts

Maintenance of the Improvements. (i) The Grantor shall maintain the Improvements in good repair, subject to ordinary wear and tear, damage by casualty, taking by condemnation or eminent domain, shall comply with the requirements of any governmental authority claiming jurisdiction over the Premises within the lesser of thirty (30) days after an order (an "Order") containing such requirement has been issued by any such authority, (unless such requirement cannot be complied with within such thirty (30) day period, in which event the Grantor shall have such longer period as necessary to cause compliance, PROVIDED HOWEVER, that the Grantor shall promptly commence and diligently prosecute to completion such compliance and provided, further, that such period shall not exceed the time required pursuant to the terms of such Order) or the time required pursuant to the terms of such Order and shall permit the Beneficiary to enter upon the Improvements and inspect the Improvements at all reasonable hours and without prior notice. The Grantor shall not, without the prior written consent of the Beneficiary, threaten, commit, permit or suffer to occur any waste or except as may be permitted under the terms of the Loan Agreement, the material alteration, demolition or removal of the Improvements or any part thereof; PROVIDED, HOWEVER, that fixtures and articles of personal property owned by the Grantor may be removed from the Improvements if the Grantor concurrently therewith replaces same with equivalent items which do not reduce the value of the Premises or the Improvements, free of any lien, charge or claim superior to the lien and/or security interest created hereby.

Appears in 1 contract

Samples: And Security Agreement (Aerobic Creations, Inc.)

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Maintenance of the Improvements. (i) The Grantor shall maintain the Improvements in good repair, subject to ordinary wear and tear, damage by casualty, taking by condemnation or eminent domain, shall comply with the requirements of any governmental authority claiming jurisdiction over the Premises within the lesser of thirty (30) days after an order (an "`Order"') containing such requirement has been issued by any such authority, authority (unless such requirement cannot be complied with within such thirty (30) day period, in which event the Grantor shall have such longer period as necessary to cause compliancecompliance provided, PROVIDED HOWEVERhowever, that the Grantor shall promptly commence and diligently prosecute to completion such compliance and provided, further, that such period shall not exceed the time required pursuant to the terms of such Order) or the time required pursuant to the terms of such Order and shall permit the Beneficiary to enter upon the Improvements and inspect the Improvements at all reasonable hours and without prior notice. The Grantor shall not, without the prior written consent of the Beneficiary, threaten, commit, permit or suffer to occur any waste or except as may be permitted under the terms of the Loan Agreementwaste, the material alteration, demolition or removal of the Improvements or any part thereof; PROVIDEDprovided, HOWEVERhowever, that fixtures and articles of personal property owned by the Grantor may be removed from the Improvements if the Grantor concurrently therewith replaces same with equivalent items which do not reduce the value of the Premises or the Improvements, free of any lien, charge or claim superior to the lien and/or security interest created hereby.

Appears in 1 contract

Samples: American Water Star Inc

Maintenance of the Improvements. (i) The Grantor Mortgagor ------------ ------------------------------- shall maintain the Improvements in good repair, subject to ordinary wear and tear, damage by casualty, taking by condemnation or eminent domain, shall comply with the requirements of any governmental authority claiming jurisdiction over the Premises within the lesser of thirty (30) days after an order (an "Order") containing such requirement has been issued by any such authority, authority (unless such requirement cannot be complied with within such thirty (30) day period, in which event the Grantor Mortgagor shall have such longer period as necessary to cause compliancecompliance provided, PROVIDED HOWEVERhowever, that the Grantor Mortgagor shall promptly commence and diligently prosecute to completion such compliance and provided, further, that such period shall not exceed the time required pursuant to the terms of such Order) or the time required pursuant to the terms of such Order and shall permit the Beneficiary Mortgagee to enter upon the Improvements and inspect the Improvements at all reasonable hours and without prior notice. The Grantor Mortgagor shall not, without the prior written consent of the BeneficiaryMortgagee, threaten, commit, permit or suffer to occur any waste or except as may be permitted under the terms of the Loan Agreementwaste, the material alteration, demolition or removal of the Improvements or any part thereof; PROVIDEDprovided, HOWEVERhowever, that fixtures and -------- ------- articles of personal property owned by the Grantor Mortgagor may be removed from the Improvements if the Grantor Mortgagor concurrently therewith replaces same with equivalent items which do not reduce the value of the Premises or the Improvements, free of any lien, charge or claim superior to the lien and/or security interest created hereby.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Just Toys Inc)

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Maintenance of the Improvements. (iiv) The Grantor Mortgagor shall maintain the Improvements in good repair, subject to ordinary wear and tear, damage by casualty, taking by condemnation or eminent domain, shall comply with the requirements of any governmental authority claiming jurisdiction over the Premises within the lesser of thirty (30) days after an order (an "Order") containing such requirement has been issued by any such authority, authority (unless such requirement cannot be complied with within such thirty (30) day period, in which event the Grantor Mortgagor shall have such longer period as necessary to cause compliancecompliance provided, PROVIDED HOWEVERhowever, that the Grantor Mortgagor shall promptly commence and diligently prosecute to completion such compliance and provided, further, that such period shall not exceed the time required pursuant to the terms of such Order) or the time required pursuant to the terms of such Order and shall permit the Beneficiary Mortgagee to enter upon the Improvements and inspect the Improvements at all reasonable hours and without prior notice. The Grantor Mortgagor shall not, without the prior written consent of the BeneficiaryMortgagee, threaten, commit, permit or suffer to occur any waste or except as may be expressly permitted under the terms of the Loan Agreement, the material alteration, demolition or removal of the Improvements or any part thereof; PROVIDED, HOWEVER, that fixtures and articles of personal property owned by the Grantor Mortgagor may be removed from the Improvements if the Grantor Mortgagor concurrently therewith replaces same with equivalent items which do not reduce the value of the Premises or the Improvements, free of any lien, charge or claim superior to the lien and/or security interest created hereby.

Appears in 1 contract

Samples: Security Agreement (Aerobic Creations, Inc.)

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