Common use of Operation and Maintenance of Properties Clause in Contracts

Operation and Maintenance of Properties. It will operate, maintain and preserve in good repair, working order and condition (ordinary wear and tear excepted), all its material Assets necessary for the proper conduct of its business;

Operation and Maintenance of Properties. It it will operate, maintain and preserve in good repair, working order and condition (ordinary wear and tear excepted), all its and its material Assets necessary for the proper conduct of its or their business, except where the failure to do so would not have a Material Adverse Effect;