Common use of O&M Plan Clause in Contracts

O&M Plan. The applicable Borrowers shall cause to be prepared and delivered to Lender operations and maintenance programs (the "O&M PLANS") with respect to suspected asbestos, asbestos-containing materials, and/or mold located in certain Properties as set forth on Schedule 6.6 attached hereto, which conditions were disclosed in the applicable Environmental Reports for such Properties. Each applicable Borrower shall at all times implement and carry out the O&M Plan in accordance with its terms. Lender's requirement that the applicable Borrowers develop and comply with the O&M Plan shall not be deemed to constitute a waiver or modification of any covenants or agreements of the Borrowers or Guarantor with respect to Hazardous Material or Environmental Laws as set forth in the Environmental Indemnity.

Appears in 4 contracts

Samples: Loan and Security Agreement (Lodgian Inc), Loan and Security Agreement (Lodgian Inc), Loan and Security Agreement (Lodgian Inc)

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O&M Plan. The applicable Borrowers shall cause to be prepared and delivered to Lender operations and maintenance programs (the "O&M PLANS") with respect to suspected asbestos, asbestos-containing materials, and/or mold located in certain Properties as set forth on Schedule 6.6 attached heretoSCHEDULE 6.6, which conditions were disclosed in the applicable Environmental Reports for such Properties. Each applicable Borrower shall at all times implement and carry out the O&M Plan in accordance with its terms. Lender's requirement that the applicable Borrowers develop and comply with the O&M Plan shall not be deemed to constitute a waiver or modification of any covenants or agreements of the Borrowers or Guarantor with respect to Hazardous Material or Environmental Laws as set forth in the Environmental Indemnity.

Appears in 2 contracts

Samples: Loan and Security Agreement (Lodgian Inc), Loan and Security Agreement (Lodgian Inc)

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