Common use of Operation; Maintenance; Inspection Clause in Contracts

Operation; Maintenance; Inspection. Borrower shall observe and comply with all legal requirements applicable to the ownership, use and operation of the Project. Borrower shall maintain the Project in good condition and promptly repair any damage or casualty. Borrower shall permit Lender and its agents, representatives and employees, upon reasonable prior notice to Borrower, to inspect the Project and conduct such environmental and engineering studies as Lender may require, provided such inspections and studies do not materially interfere with the use and operation of the Project.

Appears in 7 contracts

Samples: Loan Agreement (Campus Crest Communities, Inc.), Loan Agreement (Campus Crest Communities, Inc.), Loan Agreement (Griffin Land & Nurseries Inc)

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Operation; Maintenance; Inspection. Borrower shall observe and comply with all legal requirements applicable to the ownership, use and operation of the ProjectProjects. Borrower shall maintain the Project Projects in good condition and promptly repair any damage or casualty. Borrower shall permit Lender and its agents, representatives and employees, upon reasonable prior notice to Borrower, to inspect the Project Projects and conduct such environmental and engineering studies as Lender may require, provided such inspections and studies do not materially interfere with the use and operation of the ProjectProjects.

Appears in 3 contracts

Samples: Loan Agreement (Extra Space Storage Inc.), Loan Agreement (Extra Space Storage Inc.), Loan Agreement (Extra Space Storage Inc.)

Operation; Maintenance; Inspection. Borrower shall observe and comply with all legal requirements applicable to the ownership, use and operation of the Project. Borrower shall maintain the Project in good condition and promptly repair any damage or casualty. Borrower shall permit Lender Administrative Agent and its the Lenders and their agents, representatives and employees, upon reasonable prior notice to Borrower, to inspect the Project and conduct such environmental and engineering studies as Lender Administrative Agent may require, provided such inspections and studies do not materially interfere with the use and operation of the Project.

Appears in 2 contracts

Samples: Term Loan Agreement (Acadia Realty Trust), Term Loan Agreement (Acadia Realty Trust)

Operation; Maintenance; Inspection. Borrower shall observe and comply with all legal requirements applicable to the ownership, use and operation of the Project. Borrower shall maintain the Project in good condition and promptly repair any damage or deterioration, and, subject to the provisions of Article 3 hereof, promptly repair any casualty. Borrower shall permit Lender and its agents, representatives and employees, upon reasonable prior notice to Borrower, to inspect the Project and conduct such environmental and engineering studies as Lender may require, provided such inspections and studies do not materially interfere with the use and operation of the Project.

Appears in 1 contract

Samples: Leasehold Deed to Secure Debt and Security Agreement (Meredith Enterprises Inc)

Operation; Maintenance; Inspection. Borrower shall observe and comply with all legal requirements applicable to the ownership, use and operation of the ProjectProjects. Borrower shall maintain the Project Projects in good condition and promptly repair any damage or casualty, normal wear and tear excepted. Borrower shall permit Lender Administrative Agent and its agents, representatives and employees, upon reasonable prior notice to Borrower, to inspect the Project Projects and conduct such environmental and engineering studies as Lender Administrative Agent may require, provided such inspections and studies do not materially interfere with the use and operation of the Project.Projects. [Summit Healthcare] 69

Appears in 1 contract

Samples: Loan Agreement (Summit Healthcare REIT, Inc)

Operation; Maintenance; Inspection. Borrower shall observe and comply with all legal requirements applicable to the ownership, use and operation of the Project. Borrower shall maintain the Project in good condition and promptly repair any damage or casualty. Borrower shall permit Lender the Administrative Agent and its the Lenders and their agents, representatives and employees, upon reasonable prior notice to BorrowerBorrower and subject to the rights of tenants at the Project, to inspect the Project and conduct such environmental and engineering studies as Lender the Administrative Agent may require, provided such inspections and studies do not materially interfere with the use and operation of the Project.

Appears in 1 contract

Samples: Loan Agreement (Metropolis Realty Trust Inc)

Operation; Maintenance; Inspection. Borrower shall observe and comply with all legal requirements applicable Applicable Laws relating to the ownership, use and operation of the Project. Borrower shall maintain the Project in good condition and promptly repair any damage or casualty. Borrower shall permit Lender the Administrative Agent and its the Lenders and their respective agents, representatives and employees, upon reasonable prior notice to Borrower, to inspect the Project and conduct such environmental and engineering studies as Lender the Administrative Agent may reasonably require, provided such inspections and studies do not materially interfere with the use and operation of the Project.

Appears in 1 contract

Samples: Loan Agreement (Morgans Hotel Group Co.)

Operation; Maintenance; Inspection. Borrower shall observe and comply with (or cause observance and compliance with) all legal requirements applicable to the ownership, use and operation of the Project. Borrower shall maintain (or cause to be maintained) the Project in good condition condition, ordinary wear and tear excepted, and promptly after receipt or all necessary permits and approvals, including any approvals which Borrower is required to obtain from Agent or Lender under the terms of this Agreement or any of the other Loan Documents, repair any damage or casualty. Borrower shall permit Lender and its agents, representatives and employees, upon reasonable prior notice to Borrower, to inspect the Project and conduct such environmental and engineering studies as Lender may require, provided such inspections and studies do not materially interfere with the use and operation of the Project.

Appears in 1 contract

Samples: Loan Agreement (Emeritus Corp\wa\)

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Operation; Maintenance; Inspection. Borrower shall observe and comply with all legal requirements applicable to the ownership, use and operation of the Project. Borrower shall maintain the Project in good condition and promptly repair any damage or casualty. Borrower shall permit Lender and its agents, representatives and employees, upon reasonable prior notice casualty subject to Borrower, to inspect the Project and conduct such environmental and engineering studies as Lender may require, provided such inspections and studies do not materially interfere with the use and operation of the Project.Section 3.1

Appears in 1 contract

Samples: Loan Agreement (Columbia Equity Trust, Inc.)

Operation; Maintenance; Inspection. Borrower shall observe and comply with all legal requirements applicable to the ownership, use and operation of the ProjectProjects. Borrower shall maintain the Project Projects in good condition and promptly repair any damage or casualty, normal wear and tear excepted. Borrower shall permit Lender Administrative Agent and its agents, representatives and employees, upon reasonable prior notice to Borrower, to inspect the Project Projects and conduct such environmental and engineering studies as Lender Administrative Agent may require, provided such inspections and studies do not materially interfere with the use and operation of the ProjectProjects.

Appears in 1 contract

Samples: Loan Agreement (Cornerstone Core Properties REIT, Inc.)

Operation; Maintenance; Inspection. Borrower shall observe and comply in all material respects with all legal requirements applicable to the ownership, use and operation of the Project, including, without limitation, restrictive covenants. Borrower shall maintain the Project in good condition and promptly repair any damage or casualty, subject to and as provided in Section 3.2. Borrower shall permit Lender and its agents, representatives and employees, upon reasonable prior notice to Borrower, to inspect the Project and conduct such environmental and engineering studies as Lender may require, provided such inspections and studies do not materially interfere with the use and operation of the Project.

Appears in 1 contract

Samples: Loan Agreement (Winston Hotels Inc)

Operation; Maintenance; Inspection. Borrower shall observe and comply with all legal requirements Requirements of Law applicable to the ownership, use and operation of the Project. Borrower shall maintain the Project in good condition and promptly repair any damage or casualty, normal wear and tear excepted. Borrower shall permit Lender Administrative Agent and its agents, representatives and employees, upon reasonable prior notice to Borrower, to inspect the Project and conduct such environmental and engineering studies as Lender Administrative Agent may require, provided such inspections and studies do not materially interfere with the use and operation of the Project.

Appears in 1 contract

Samples: Loan Agreement (Summit Healthcare REIT, Inc)

Operation; Maintenance; Inspection. Borrower shall observe and comply with all legal requirements applicable to the ownership, use and operation of the Project. Borrower shall maintain the Project in good condition and promptly repair any damage or casualty. Borrower shall permit Lender the Administrative Agent and its the Lenders and their respective agents, representatives and employees, upon reasonable prior notice to Borrower, to inspect the Project and conduct such environmental and engineering studies as Lender the Administrative Agent may reasonably require, provided such inspections and studies do not materially interfere with the use and operation of the Project.

Appears in 1 contract

Samples: Loan Agreement (Morgans Hotel Group Co.)

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