Maintenance of the Secured Property Sample Clauses

Maintenance of the Secured Property. Trustor shall cause the Secured ----------------------------------- Property to be maintained in good condition and repair and will not commit or suffer to be committed any waste of the Secured Property. The Improvements and the Equipment shall not be removed, demolished or materially altered (except for normal replacement of the Equipment), without the consent of Beneficiary. Trustor shall promptly comply with all existing and future governmental laws, orders, ordinances, rules and regulations affecting the Secured Property, or any portion thereof or the use thereof. Trustor shall give prompt written notice to Beneficiary of any damage or destruction by fire or other property hazard or casualty and shall deliver to Beneficiary copies of any and all papers sent or received by Trustor in connection with the foregoing. Trustor shall promptly repair, replace or rebuild all or any part of the Secured Property which may be damaged or destroyed by fire or other property hazard or casualty (including any fire or other property hazard or casualty for which insurance was not obtained or obtainable) or which may be affected by any taking by any public or quasi- public authority through eminent domain or otherwise, and shall complete and pay for, within a reasonable time, any structure at any time in the process of construction or repair on the Premises. If such fire or other property hazard or casualty shall be covered by the insurance policies which Trustor is required to obtain pursuant to the provisions of the Loan Agreement ("Policies"), Trustor's obligation to repair, replace or rebuild such portion of the Secured Property shall be contingent upon Beneficiary paying Trustor the proceeds of the Policies, or such portion thereof as shall be sufficient to complete such repair, replacement or rebuilding, whichever is less. Trustor will not, without obtaining the prior consent of Beneficiary, initiate, join in or consent to any private restrictive covenant, zoning ordinance, or other public or private restrictions, limiting or affecting the uses which may be made of the Secured Property or any part thereof.
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Maintenance of the Secured Property. Except as permitted by the Credit Agreement, Mortgagor shall maintain the Secured Property in good repair (normal wear and tear excepted) and shall comply with the requirements of any governmental authority claiming jurisdiction over the Secured Property. Mortgagor shall not, without the prior written consent of Mortgagee, threaten, commit, permit, or suffer to occur any waste, material alteration, demolition, or removal of the Secured Property or any part thereof, except as permitted by the Credit Agreement.
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Maintenance of the Secured Property. (a) Borrower shall keep the buildings, parking areas, roads and walkways, recreational facilities, landscaping and all other improvements of any kind now or hereafter erected on the Secured Property or any part thereof in good condition and repair, will not commit or suffer any waste or will not do or suffer to be done anything which would or could increase the risk of fire or other hazard to the Secured Property or any other part thereof or which would or could result in the cancellation of any insurance policy carried with respect to the Secured Property. (b) Except in accordance with the Plans and Specifications, Borrower shall not remove, demolish or alter the structural character of the Secured Property without the prior written consent of Administrative Agent, which consent shall not be unreasonably withheld, conditioned or delayed. Borrower shall not remove or permit to be removed from the Secured Property any item or items referred to in this Instrument which are or may hereafter be in any way attached or affixed to the Land or to any improvement thereon, except in the ordinary course of maintaining and operating the Secured Property. (c) If the Secured Property or any part thereof is damaged by fire or other cause, Borrower will give prompt written notice thereof to Administrative Agent. (d) Subject to the applicable provisions of the Loan Agreement and the rights of Tenants under any Lease, Administrative Agent and any persons authorized by Administrative Agent shall have the right to enter upon and inspect the Secured Property and to make or cause to be made such investigations and analyses thereof as Administrative Agent deems necessary at all reasonable times and upon reasonable prior notice, and access thereto shall be permitted for such purposes. (e) Borrower will promptly comply with all present and future laws, ordinances, orders, rules and regulations of any governmental authority affecting the Secured Property or any part thereof. (f) If all or any part of the Secured Property shall be damaged by fire or other casualty, Borrower will, if insurance proceeds are made available for restoration (but regardless of whether any such insurance proceeds are sufficient for the restoration), promptly restore the Secured Property to the equivalent of its original condition or payoff the Secured Indebtedness; and if a part of the Secured Property shall be affected by a condemnation action or taking by eminent domain, Borrower will promptly restore, r...
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Maintenance of the Secured Property. The Grantor must: (a) maintain and protect its Secured Property; (b) keep its Secured Property in a good state of repair and in good working order allowing for fair wear and tear; (c) remedy every defect in its title to any part of its Secured Property; (d) take or defend all legal proceedings to protect or recover any of its Secured Property; (e) keep its Secured Property valid and subsisting and free from liability to forfeiture, cancellation, avoidance or loss; and (f) take all commercially reasonable steps to identify, protect and perfect with the highest priority reasonably available any PPSA Security Interest in respect of which the Grantor is or is to become the PPSA Secured Party.
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Maintenance of the Secured Property. (a) Trustor shall (i) keep the Secured Property in good and safe condition and repair, free from waste, including, making all repairs and replacements, structural or nonstructural, foreseen or unforeseen, ordinary or extraordinary, as the same become necessary or appropriate, to keep the Secured Property in good and safe condition and repair, (ii) pay all operating costs of the Secured Property, (iii) complete, within a reasonable time, and pay for any building or buildings or other Improvements now or at any time in the process of erection upon the Property, (iv) comply with any restrictions and covenants of record with respect to the Property and the use thereof, and (v) perform all agreements, undertakings and functions necessary to operate and maintain the Secured Property as currently operated. (b) Without the prior written consent of Beneficiary, Trustor shall not cause, suffer or permit any (i) (x) Material Alterations of the Property or the Improvements except (A) as required by any applicable law, or (B) as permitted or required to be made by the terms of any Leases approved by Beneficiary (with respect to work in any space demised thereunder), or (y) demolition or removal of any portion of the Improvements or Equipment except for the removal of any such portion which is simultaneously replaced with equivalent materials or which are worn out, obsolete or no longer used or useful in connection with the operation of the Property (“Obsolete Collateral”) and the removal of which shall not adversely affect the use or operation of the Improvements. Without the prior written consent of Beneficiary, Trustor shall not cause, suffer or permit any (i) change in the intended use or occupancy of the Property for which the Improvements have been constructed which would adversely affect the use or operation of the Improvements; (ii) zoning reclassification with respect to the Property which would materially and adversely affect the valuation of the Secured Property; or (iii) unlawful use of, or nuisance to exist upon, the Property. Without limiting the generality of the foregoing, Trustor will not, by act or omission (y) impair the integrity of the Property as separate and apart from all other premises, or (z) permit or suffer to permit the Property to be used by the public or any person or entity in such manner as might make possible a claim of adverse usage or possession or any implied dedication or easement. As used herein, the term “Material Alteration” shal...
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Maintenance of the Secured Property. (1) maintain and protect its Secured Property, including a programme of care and maintenance to industry best practice; (2) keep its Secured Property in the state of repair that a prudent owner of the same or similar Secured Property acting in accordance with best industry practice would keep its Secured Property in; (3) remedy every defect in its title to any part of its Secured Property; Debt finance facility agreement (4) take or defend all legal proceedings necessary to protect or recover any of its Secured Property; and (5) keep its Secured Property valid and subsisting and free from liability to forfeiture, cancellation, avoidance or loss;
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Maintenance of the Secured Property. Except as permitted by the Loan Agreement, Borrower shall maintain the Secured Property in good repair (normal wear and tear excepted) and shall comply with the requirements of any governmental authority claiming jurisdiction over the Secured Property. Borrower shall not, without the prior written consent of Agent, threaten, commit, permit, or suffer to occur any waste, material alteration, demolition, or removal of the Secured Property or any part thereof, except as permitted by the Loan Agreement.
Sample 1
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Maintenance of the Secured Property. ① In the event that there is or there exists a concern of destruction or damage to the Secured Property, the Creator shall take legal steps as may be necessary for the prevention or remedy thereof, and shall notify the creditor of such fact.
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Related to Maintenance of the Secured Property

  • Maintenance of Collateral Borrower will maintain the Collateral in good working condition, and Borrower will not use the Collateral for any unlawful purpose. Borrower will immediately advise Silicon in writing of any material loss or damage to the Collateral.

  • Maintenance of Mortgaged Property Borrower shall cause the Mortgaged Property to be maintained in a good and safe condition and repair, subject to wear and tear and damage caused by casualty or condemnation. The Improvements and the Equipment shall not be removed, demolished or altered (except for (1) normal replacement of the Equipment, (2) Improvements contemplated in an approved Operating Budget or pursuant to Leases in effect from time to time, (3) removals, demolition or alterations that do not cost more than 1% of the Principal Indebtedness or (4) an emergency which the Borrower shall have notified the Lender of in writing, including the action taken to remediate) without the consent of Lender which consent shall not be unreasonably withheld or delayed. Except with respect to an Insured Casualty which shall be governed by the terms and conditions provided herein, Borrower shall, or shall cause any tenants obligated under their respective Leases to, promptly repair, replace or rebuild any part of the Mortgaged Property that becomes damaged, worn or dilapidated. Borrower shall complete and pay for any structure at any time in the process of construction or repair on the Land. Borrower shall not initiate, join in, or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or defining the uses which may be made of any Mortgaged Property or any part thereof without the written consent of Lender, which consent shall not be unreasonably withheld or delayed. If under applicable zoning provisions the use of all or any portion of the Mortgaged Property is or shall become a nonconforming use, Borrower will not cause or permit such nonconforming use to be discontinued or abandoned if such discontinuance of abandonment would cause such nonconforming use to no longer be permitted without the express written consent of Lender, which consent shall not be unreasonably withheld or delayed. Borrower shall not (i) change the use of any of the Land or Improvements in any material respect, (ii) permit or suffer to occur any waste on or to any Mortgaged Property or to any portion thereof or (iii) take any steps whatsoever to convert any Mortgaged Property, or any portion thereof, to a condominium or cooperative form of management.

  • Maintenance of the Property Neither Broker nor Brokerage Firm is responsible for maintenance of the 324 Property nor are they liable for damage of any kind occurring to the Property, unless such damage is caused by their negligence or 325 intentional misconduct.

  • MAINTENANCE OF THE SAID BUILDING APARTMENT / PROJECT

  • Maintenance of Security Interests The Borrower will: (a) at its own cost, do all that it reasonably can to ensure that any Finance Document validly creates the obligations and the Security Interests which it purports to create; and (b) without limiting the generality of paragraph (a) above, at its own cost, promptly register, file, record or enrol any Finance Document with any court or authority in all Pertinent Jurisdictions, pay any stamp, registration or similar tax in all Pertinent Jurisdictions in respect of any Finance Document, give any notice or take any other step which, in the opinion of the Majority Lenders, is or has become necessary or desirable for any Finance Document to be valid, enforceable or admissible in evidence or to ensure or protect the priority of any Security Interest which it creates.

  • Maintenance of Security Interest (a) Such U.S. Pledgor shall maintain the security interest created by this Agreement in such U.S. Pledgor’s Pledged Collateral as a security interest having at least the perfection and priority described in subsection 4.3.4 or subsection 4.3.5, as applicable and shall defend such security interest against the claims and demands of all Persons whomsoever. At any time and from time to time, upon the written request of the ABL Collateral Agent and at the sole expense of such U.S. Pledgor, such U.S. Pledgor will promptly and duly execute and deliver such further instruments and documents and take such further actions as the ABL Collateral Agent may reasonably request for the purpose of obtaining or preserving the full benefits of this Agreement and of the rights and powers herein granted by such U.S. Pledgor; provided, that notwithstanding any other provision of this Agreement or any other Loan Documents, neither the Parent Borrower nor any other U.S. Pledgor will be required to (i) take any action in any jurisdiction other than the United States of America, or required by the laws of any such non-U.S. jurisdiction, or enter into any security agreement or pledge agreement governed by the laws of any such non-U.S. jurisdiction, in order to create any security interests (or other Liens) in assets located or titled outside of the United States of America or to perfect any security interests (or other Liens) in any Collateral, (ii) deliver control agreements with respect to, or confer perfection by “control” over, any deposit accounts, bank or securities account or other Collateral, except (A) as required by subsection 4.16 of the ABL Credit Agreement and (B) in the case of Security Collateral that constitutes Capital Stock or Pledged Notes in certificated form, delivering such Capital Stock or Pledged Notes to the ABL Collateral Agent (or another Person as required under any applicable Intercreditor Agreement), (iii) take any action in order to perfect any security interests in any assets specifically requiring perfection through control (including cash, cash equivalents, deposit accounts or securities accounts) constituting Excluded Assets (except, in each case, to the extent consisting of proceeds perfected by the filing of a financing statement under the Code or, in the case of Pledged Stock, by being held by the ABL Collateral Agent or an Additional Agent as agent for the ABL Collateral Agent), (iv) deliver landlord lien waivers, estoppels or collateral access letters or (v) file any fixture filing with respect to any security interest in Fixtures affixed to or attached to any real property constituting Excluded Assets. (b) The ABL Collateral Agent may grant extensions of time for the creation and perfection of security interests in, or obtaining or delivery of documents or other deliverables with respect to, particular assets of any U.S. Pledgor where it determines that such action cannot be accomplished without undue effort or expense by the time or times at which it would otherwise be required to be accomplished by this Agreement or any other Security Documents.

  • Maintenance of Collateral Accounts Maintain any Collateral Account except pursuant to the terms of Section 6.6(b) hereof.

  • PRESERVATION, MANAGEMENT AND MAINTENANCE OF MORTGAGED PROPERTY (a) Borrower shall not commit waste or permit impairment or deterioration of the Mortgaged Property. (b) Borrower shall not abandon the Mortgaged Property. (c) Borrower shall restore or repair promptly, in a good and workmanlike manner, any damaged part of the Mortgaged Property to the equivalent of its original condition, or such other condition as Lender may approve in writing, whether or not insurance proceeds or condemnation awards are available to cover any costs of such restoration or repair; however, Borrower shall not be obligated to perform such restoration or repair if (i) no Event of Default has occurred and is continuing, and (ii) Lender has elected to apply any available insurance proceeds and/or condemnation awards to the payment of Indebtedness pursuant to Section 19(h)(ii), (iii), (iv) or (v), or pursuant to Section 20. (d) Borrower shall keep the Mortgaged Property in good repair, including the replacement of Personalty and Fixtures with items of equal or better function and quality. (e) Borrower shall provide for professional management of the Mortgaged Property by a residential rental property manager satisfactory to Lender at all times under a contract approved by Lender in writing, which contract must be terminable upon not more than 30 days notice without the necessity of establishing cause and without payment of a penalty or termination fee by Borrower or its successors. (f) Borrower shall give Notice to Lender of and, unless otherwise directed in writing by Lender, shall appear in and defend any action or proceeding purporting to affect the Mortgaged Property, Lender's security or Lender's rights under this Instrument. Borrower shall not (and shall not permit any tenant or other person to) remove, demolish or alter the Mortgaged Property or any part of the Mortgaged Property, including any removal, demolition or alteration occurring in connection with a rehabilitation of all or part of the Mortgaged Property, except (i) in connection with the replacement of tangible Personalty, (ii) if Borrower is a cooperative housing corporation or association, to the extent permitted with respect to individual dwelling units under the form of proprietary lease or occupancy agreement and (iii) repairs and replacements in connection with making an individual unit ready for a new occupant. (g) Unless otherwise waived by Lender in writing, Borrower must have or must establish and must adhere to the MMP. If the Borrower is required to have an MMP, the Borrower must keep all MMP documentation at the Mortgaged Property or at the management agent's office and available for the Lender or the Loan Servicer to review during any annual assessment or other inspection of the Mortgaged Property that is required by Lender. (h) If Borrower is a housing cooperative corporation or association, until the Indebtedness is paid in full Borrower shall not reduce the maintenance fees, charges or assessments payable by shareholders or residents under proprietary leases or occupancy agreements below a level which is sufficient to pay all expenses of the Borrower, including, without limitation, all operating and other expenses for the Mortgaged Property and all payments due pursuant to the terms of the Note and any Loan Documents.

  • Maintenance of Liens Each Borrower shall perform all such acts and execute all such documents as Administrative Agent may reasonably request in order to enable Administrative Agent and the Lenders to file and record every instrument that Administrative Agent may reasonably deem necessary in order to perfect and maintain Administrative Agent’s first priority Liens on the Collateral (subject to Permitted Liens).

  • Maintenance of Property The Company shall maintain, and shall cause each Subsidiary to maintain, and preserve all its property which is used or useful in its business in good working order and condition, ordinary wear and tear excepted and make all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not reasonably be expected to have a Material Adverse Effect.

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