Common use of ONGOING PERFORMANCE Clause in Contracts

ONGOING PERFORMANCE. Until the Effective Time, the Merged Partnership shall continue to fulfill all of its obligations under the terms of the Existing Mortgage, the leases encumbering the Property, the service contracts and the executory contracts, and the Merged Partnership shall operate, and perform routine maintenance and repair with respect to, all landscaping, buildings, fixtures and facilities, including, without limitation, the Other Items, in accordance its current practices. With respect to non-routine maintenance or repair, the following shall apply: (1) Except in the case of emergency, the Merged Partnership shall not arrange for the making of any non-routine repair or replacement costing in excess of $10,000 in any one instance without the prior written consent of the Surviving Partnership which consent shall not be unreasonably withheld and shall be deemed given if it is not denied by written notice received by the Merged Partnership within 3 business days after request for such consent was received by the Surviving Partnership. If such consent is given or if such cost is less than $10,000, in the event that the Merger occurs, the cost of such repair or replacement shall be the responsibility of the Surviving Partnership and if any amount on account of such cost is paid by the Merged Partnership prior to Closing, the Surviving Partnership shall reimburse that to the Merged Partnership at Closing. (2) Any non-routine repairs or replacements arranged by the Merged Partnership which are not the responsibility of the Surviving Partnership pursuant to Section 4.1(p)(1) above or Section 4.1(p)(3) below shall be a liability of the Merged Partnership which shall not be assumed by the Surviving Partnership. (3) In the event that any non-routine repairs or replacements are required on an emergency basis, which emergency is such as does not comfortably allow the passage of the time period specified above for obtaining the approval of the Surviving Partnership, the Merged Partnership may arrange for such repair or replacement, and in the event that the Merger occurs, the cost thereof shall be the responsibility of the Surviving Partnership and at Closing the Surviving Partnership shall reimburse the Merged Partnership for any amount paid on account of such repair or replacement prior to Closing.

ONGOING PERFORMANCE. The Existing Mortgage Loan has matured. Until the Effective Time, the Merged Partnership shall will continue to make payments with respect to the Existing Mortgage Loan which would have been required to be made if the Existing Mortgage Loan had not matured. Until the Effective Time, the Merged Partnership will continue to fulfill all of its obligations under the terms of the Existing MortgageUnsecured Loans, the leases encumbering the Property, the service contracts and the executory contracts, and the Merged Partnership shall operate, and perform routine maintenance and repair with respect to, all landscaping, buildings, fixtures and facilities, including, without limitation, the Other Items, in accordance its current practices. With respect to non-routine maintenance or repair, the following shall apply: (1) Except in the case of emergency, the Merged Partnership shall not arrange for the making of any non-routine repair or replacement costing in excess of $10,000 in any one instance without the prior written consent of the Surviving Partnership which consent shall not be unreasonably withheld and shall be deemed given if it is not denied by written notice received by the Merged Partnership within 3 business days after request for such consent was received by the Surviving Partnership. If such consent is given or if such cost is less than $10,000, in the event that the Merger occurs, the cost of such repair or replacement shall be the responsibility of the Surviving Partnership and if any amount on account of such cost is paid by the Merged Partnership prior to Closing, the Surviving Partnership shall reimburse that to the Merged Partnership at Closing. (2) Any non-routine repairs or replacements arranged by the Merged Partnership which are not the responsibility of the Surviving Partnership pursuant to Section 4.1(p)(1) above or Section 4.1(p)(3) below shall be a liability of the Merged Partnership which shall not be assumed by the Surviving Partnership. (3) In the event that any non-routine repairs or replacements are required on an emergency basis, which emergency is such as does not comfortably allow the passage of the time period specified above for obtaining the approval of the Surviving Partnership, the Merged Partnership may arrange for such repair or replacement, and in the event that the Merger occurs, the cost thereof shall be the responsibility of the Surviving Partnership and at Closing the Surviving Partnership shall reimburse the Merged Partnership for any amount paid on account of such repair or replacement prior to Closing.

ONGOING PERFORMANCE. Until the Effective Time, the Merged General Partnership shall continue to fulfill all of its obligations under the terms of the Existing Mortgage, the leases encumbering the Property, the service contracts and the executory contracts, and the Merged General Partnership shall operate, and perform routine maintenance and repair with respect to, all landscaping, buildings, fixtures and facilities, including, without limitation, the Other Items, in accordance its current practices. With respect to non-routine maintenance or repair, the following shall apply: (1) Except in the case of emergency, the Merged General Partnership shall not arrange for the making of any non-routine repair or replacement costing in excess of $10,000 in any one instance without the prior written consent of the Surviving Partnership which consent shall not be unreasonably withheld and shall be deemed given if it is not denied by written notice received by the Merged General Partnership within 3 business days after request for such consent was received by the Surviving Partnership. If such consent is given or if such cost is less than $10,000, in the event that the Merger occurs, the cost of such repair or replacement shall be the responsibility of the Surviving Partnership and if any amount on account of such cost is paid by the Merged General Partnership prior to Closing, the Surviving Partnership shall reimburse that to the Merged General Partnership at Closing. (2) Any non-routine repairs or replacements arranged by the Merged General Partnership which are not the responsibility of the Surviving Partnership pursuant to Section 4.1(p)(1) above or Section 4.1(p)(3) below shall be a liability of the Merged General Partnership which shall not be assumed by the Surviving Partnership. (3) In the event that any non-routine repairs or replacements are required on an emergency basis, which emergency is such as does not comfortably allow the passage of the time period specified above for obtaining the approval of the Surviving Partnership, the Merged General Partnership may arrange for such repair or replacement, and in the event that the Merger occurs, the cost thereof shall be the responsibility of the Surviving Partnership and at Closing the Surviving Partnership shall reimburse the Merged General Partnership for any amount paid on account of such repair or replacement prior to Closing.