Operating Obligations. From the date the first apartment unit in the Apartment Housing is available for its intended use until three consecutive months of Break-even Operations, the General Partner will immediately provide to the Partnership the necessary funds to pay Operating Deficits, which funds shall not be repayable, shall not change the Interest of any Partner and shall be considered a guaranteed payment to the Partnership for cost overruns. For the balance of the Operating Deficit Guarantee Period the General Partner will immediately provide Operating Loans to pay any Operating Deficits. The aggregate maximum amount of the Operating Loan(s) the General Partner will be obligated to lend will be equal to one year's operating expenses (including debt and reserves) approved by the General Partner and the Special Limited Partner. Each Operating Loan shall be nonrecourse to the Partners, and shall be repayable out of 50% of the available Net Operating Income or Sale or Refinancing Proceeds in accordance with Article XI of this Agreement.
Operating Obligations. 17 Section 6.4 Other General Partner Loans.............................17 ARTICLE VII CAPITAL CONTRIBUTIONS OF LIMITED PARTNER AND SPECIAL LIMITED PARTNER.......................................................................18
Operating Obligations. From the date of this Agreement until three consecutive months of Break-even Operations, the General Partner will provide the necessary funds to pay Operating Deficits, which funds shall not be repayable, shall not change the Interest of any Partner and shall be considered a guaranteed payment to the Partnership for cost overruns. For the balance of the Operating Deficit Guarantee Period the General Partner will provide Operating Loans to pay any Operating Deficits. The aggregate maximum amount of the Operating Loan(s) the General Partner will be obligated to lend will be equal to one year's operating expenses (including debt and reserves) approved by the General Partner and the Special Limited Partner. Each Operating Loan shall be nonrecourse to the Partners, and shall be repayable out of 50% of the available Net Operating Income or Sale or Refinancing Proceeds in accordance with Article XI of this Agreement.
Operating Obligations. Except as otherwise permitted under this Agreement and the other Loan Documents, the Borrower shall not and shall not permit the Property Owner to enter into, assume or permit to exist, any obligations for the payment of rent for any property (real, personal or mixed, tangible or intangible) under Leases, subleases or similar arrangements as lessee other than operating leases, equipment leases and similar leases entered into in ordinary course of business for assets incidental to the management and operation of the Mortgaged Property.
Operating Obligations. From the date of this Agreement, until three consecutive months of Breakeven Operations after completion of all rehabilitation as approved in the Plans and Specifications or scope of work), the General Partner will immediately provide to the Partnership the necessary funds to pay Operating Deficits, which funds shall not be repayable, shall not change the Interest of any Partner and shall be considered a guaranteed payment to the Partnership for cost overruns. For the balance of the Operating Deficit Guarantee Period the General Partner will immediately provide Operating Loans to pay any Operating Deficits. The aggregate maximum amount of the Operating Loan(s) the General Partner will be obligated to lend will be $82,639, which is equal to six months' operating expenses (including debt and reserves) as agreed to by the General Partner and the Special Limited Partner. Each Operating Loan shall be nonrecourse to the Partners, and shall be repayable out of 50% of the available Net Operating Income or Sale or Refinancing Proceeds in accordance with Article XI of this Agreement.
Operating Obligations. In addition to carrying out the Partnership Services in accordance with clause 3, the Partnership will: allow the Trust Manager to inspect all log books, voyage records and other relevant documents on request; not allow or bring cargo on board the Vessel except as reasonably required and approved by the Trust Manager; not to use, permit use, or keep anything on the Vessel that may affect insurance premiums in any way concerning any policy of insurance on the Vessel or property on board, except the carriage and disposal of fuel as required or approved by the Trust Manager; not use or permit to be used on the Vessel or permit anything to be done on the Vessel or keep anything on the Vessel other than permitted cargo that may in any way make void or voidable or lead to an increased rate of insurance premium being payable in respect of any policy or policies of insurance on the Vessel or on any property kept or carried on board save and except the carriage and disposal of fuel which is required or approved by the Trust Manager; supply at its own expense all necessary food, beverages and other provisions for personal consumption; handle any goods to be carried on board or adjacent to the Vessel with all due care and in accordance with Best Industry Practice, and in all other respects in such manner as is approved by the Trust Manager; and supply all necessary food, beverages and other provisions for personnel carried on the Vessel necessary for the proper victualling of the Vessel during all times of operation, and will also procure lubricants and necessary spares of a mechanical and/or engineering nature as may be required for the efficient operation of the Vessel.
Operating Obligations. (a) For so long as Vendor owns any of the Restricted Stock, Purchaser agrees that it will not and will not permit any subsidiaries to:
Operating Obligations. From Completion of Construction until three consecutive months of Break-even Operations, the General Partner will provide the necessary funds to pay any Operating Deficits which funds shall not change the Interest of any Partner and shall be considered a cost overrun and not be repayable. For the balance of the Operating Deficit Guarantee Period the General Partner will provide Operating Loans to pay any Operating Deficits. The aggregate maximum amount of the Operating Loan(s) the General Partner will be obligated to lend will be equal to one year's operating expenses (including debt and reserves) approved by the General Partner and the Special Limited Partner. Each Operating Loan shall be nonrecourse to the Partners, and shall be repayable out of 50% of the available Net Operating Income or Sale or Refinancing Proceeds in accordance with Article XI of this Agreement.
Operating Obligations. Lessee shall assume all past, present and future obligations of Lessor related to the Hospital, including, but not limited to, it's Facility, Operating Assets, Operations, Acquired Assets and Charitable Assets, and the operations of the Hospital as set forth below.
Operating Obligations. (a) From the date the first apartment unit in the Apartment Housing is available for its intended use (for properties being rehabilitated with the tenants in residence, the period commences with the signing of this Agreement) until three consecutive months of Breakeven Operations (for properties being rehabilitated, the Operating Deficit Guarantee Period ends following three consecutive months of Breakeven Operations after completion of all rehabilitation as approved in the Plans and Specifications or scope of work), the General Partner will immediately provide to the Partnership the necessary funds to pay Operating Deficits, which funds shall not be repayable, shall not change the Interest of any Partner and shall be considered a guaranteed payment to the Partnership for cost overruns. For the balance of the Operating Deficit Guarantee Period the General Partner will immediately provide Operating Loans to pay any Operating Deficits. The aggregate maximum amount of the Operating Loan(s) the General Partner will be obligated to lend will be $108,108 which is equal to one year's operating expenses (including debt and reserves) as agreed to by the General Partner and the Special Limited Partner. Each Operating Loan shall be nonrecourse to the Partners, and shall be repayable out of 50% of the available Net Operating Income or Sale or Refinancing Proceeds in accordance with Article XI of this Agreement.
