Operation of the Real Property Sample Clauses

Operation of the Real Property. The Real Property must be used by the Public Entity in conjunction with or for the operation of a county highway, county state-aid highway, town road, or city street and for other uses customarily associated therewith, such as trails and utility corridors, and for no other purposes or uses. The Public Entity shall have no intention on the effective date of the Agreement to use the Real Property as a trunk highway or any part of a trunk highway. The Public Entity must annually determine that the Real Property is being used for the purposes specified in this Section and, upon written request by either MnDOT or the Commissioner, shall supply a notarized statement to that effect.
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Operation of the Real Property. The Real Property must be used by the Public Entity in conjunction with or for nonmotorized transportation. The Public Entity shall have no intention on the effective date of the Agreement to use the Real Property as a trunk highway or any part of a trunk highway. The Public Entity must annually determine that the Real Property is being used for the purposes specified in this Section and, upon written request by either MnDOT or the Commissioner, shall supply a notarized statement to that effect.
Sample 1Sample 2
Operation of the Real Property. From and after the Agreement Date, Seller will cause the Property to be operated substantially in accordance with Seller's historical customary operating practices and procedures, subject only to the following: (a) During the Inspection Period, upon prior notice to, and without consent of, Buyer, Seller may: (i) modify, amend, alter, cancel or accept a surrender or forfeiture of any of the Lease(s); or (ii) enter into any bona fide lease, offer to lease, expansion of Lease(s) or renewal of space in the Improvements (a "Proposed Lease"). In the event that Buyer does not terminate this Agreement pursuant to Section 7.2 hereof, then from and after the Inspection Termination Date except with the prior written approval of Buyer Seller will not (A) enter into any written amendments or modifications, or cancel or accept a surrender or forfeiture, of any of the Leases or (B) enter into any Proposed Lease. (b) Within four (4) Business Days after the date of Buyer's receipt of notice of: (i) any written amendment or modification, acceptance of a surrender, cancellation or forfeiture of any of the Leases or (ii) any Proposed Lease, Buyer will deliver to Seller its written approval, consent or rejection (with reasons therefor in reasonable detail) of any such proposal, failing which Buyer conclusively will be deemed to have consented, and such Proposed Lease conclusively will be deemed an Approved Lease. Buyer acknowledges that the approval procedures set forth in this Section 6.2(b) will be applicable only from and after the Inspection Termination Date. (c) Anything set forth in this Section 6.2 to the contrary notwithstanding, Seller reserves the right at any time and from time to time during the Inspection Period to terminate Leases for defaults by tenants and to institute and prosecute available remedies for default thereunder, except that Seller agrees before instituting any such proceedings to notify Buyer; provided, however, that Seller will not be required to obtain the consent of Buyer. In the event that Buyer does not elect to terminate this Agreement pursuant to Section 7.2 hereof, then from and after the Inspection Termination Date Seller agrees not to terminate any Leases or institute any such proceedings without the prior written consent of Buyer, which consent or approval will not be unreasonably withheld, conditioned or delayed and conclusively will be deemed given in the event that Buyer fails to deliver its written consent, approval or rejection (wit...
Sample 1
Operation of the Real Property. (A) The Real Property is in full compliance with all governmental permits and requirements necessary under applicable law to the lawful ownership and operation of the Real Property;, including but not limited to all applicable zoning, building, safety and environmental laws, ordinances and regulations. All inspections, licenses, permits and certificates required by law, regulation or insurance standards with respect to the use and occupancy of the Real Property have been issued and are in full force and effect. All documents evidencing the right lawfully to occupy the Real Property were duly issued in the usual course, and Borrower has not received notice of any violation of any covenants (public or private), ordinances, statutes, rules, orders or other regulations, nor any notice that the Certificate of Occupancy or equivalent certification (a copy of which was previously delivered to Lender) has been called into question or revoked, nor has Borrower received any notice that the Real Property or the uses to which it has been put are being challenged by any private individual or any court, administrative body, municipal corporation or official having jurisdiction. Borrower has not received any notices, suits, orders, decrees or judgments relating to violations or alleged violations of zoning, building, use and occupancy, fire, health, sanitation, air pollution, ecological, environmental, or other laws against or with respect to the Real Property or any part
Sample 1
Operation of the Real Property. At all times while owning and operating the Real Property, the Mortgagor covenants and agrees that: 9.11.1 The Mortgagor shall comply with the requirements or all applicable federal, state and local environmental, occupational health, safety and sanitation Laws, ordinances, codes, rules and regulations, permits, licenses and interpretations and orders of regulatory and administrative Tribunals with respect to the Real Property. Without limiting the generality of the foregoing, the Mortgagor agrees to comply with all requirements of CERCLA/XXXX and RCRA/HSWA, the Federal Water Pollution Control Act, the Federal Clean Air Act, the Toxic Substances Control Act, all as amended, and all air, water and hazardous and solid waste Laws of the State of Oklahoma, 9.11.2 The Mortgagor shall immediately, as reasonably practicable, notify the Bank of and provide the Bank with copies of any notifications of discharges or releases or threatened releases or discharges of a Polluting Substance on, upon, into, or from the Real Property which are given or required to be given by or on behalf of the Mortgagor to any federal, state or local Tribunal, and such copies of notifications shall be delivered to the Bank at the same time as they are delivered to the Tribunal. The Mortgagor further agrees to promptly undertake and diligently pursue to completion any appropriate and legally required or authorized remedial containment and cleanup action in the event of any release or discharge or threatened release or discharge of a Polluting Substance on, upon, into or from the Real Property, and 9.11.3 At all times while owning and operating the Real Property, the Mortgagor agrees to maintain and retain complete and accurate records of all releases, discharges or other disposal of Polluting Substances on, onto, into or from the Real Property, including without limitation, records of the quantity and type of any Polluting Substances disposed of on or about the Real Property.
Sample 1

Related to Operation of the Real Property

  • The Property The Landlord agrees to lease the described property below to the Tenant: (enter the property information) Mailing Address: [PROPERTY MAILING ADDRESS] Residence Type: ☐ Apartment ☐ House ☐ Condo ☐ Other: [OTHER] Bedroom(s): [# OF BEDROOMS] Bathroom(s): [# OF BATHROOMS] The aforementioned property shall be leased wholly by the Tenant (“Premises”).

  • Construction of the Project Highway (i) The Contractor shall construct the Project Highway as specified in Schedule- B and Schedule-C, and in conformity with the Specifications and Standards set forth in Schedule-D. The Contractor shall be responsible for the correct positioning of all parts of the Works, and shall rectify any error in the positions, levels, dimensions or alignment of the Works. The [650th (six hundred and fiftieth) day] from the Appointed Date shall be the scheduled completion date (the “Scheduled Completion Date”) and the Contractor agrees and undertakes that the construction shall be completed on or before the Scheduled Completion Date, including any extension thereof. (ii) The Contractor shall construct the Project Highway in accordance with the Project Completion Schedule set forth in Schedule-J. In the event that the Contractor fails to achieve any Project Milestone or the Scheduled Completion Date within a period of 30 (thirty) days from the date set forth in Schedule-J, unless such failure has occurred due to Force Majeure or for reasons solely attributable to the Authority, it shall pay Damages to the Authority of a sum calculated at the rate of 0.05% (zero point zero five percent) of the Contract Price for delay of each day reckoned from the date specified in Schedule –J and until such Project Milestone is achieved or the Project Highway is completed; provided that if the period for any or all Project Milestones or the Scheduled Completion Date is extended in accordance with the provisions of this Agreement, the dates set forth in Schedule-J shall be deemed to be modified accordingly and the provisions of this Agreement shall apply as if Schedule-J has been amended as above; provided further that in the event the Project Highway is completed within or before the Scheduled Completion Date including any Time Extension, applicable for that work or section, the Damages paid under this Clause 10.3 (ii) shall be refunded by the Authority to the Contractor, but without any interest thereon. The Parties agree that for determining achievement or delays in completion of the Project Milestones or the Project on the due date, the works affected due to delay in providing the site for which time extension has been granted beyond the Scheduled Completion Date will be excluded. For example on the due date to achieve the Project Milestone-I (i.e., Stage Payments of 10% (ten percent) of Contract Price on 180th (one hundred and eighty) day from the Appointed Date), if 5% (five percent) of the project length corresponding to the Project Milestone-I is not handed over or lately handed over resulting in the extension of completion of this 5% (five percent) length beyond Scheduled Completion Date, Stage Payment of 10% X 0.95 = 9.5% only is to be achieved by 180th (one hundred and eighty) day. For the avoidance of doubt, it is agreed that recovery of Damages under this Clause 10.3 (ii) shall be without prejudice to the rights of the Authority under this Agreement including the right of Termination thereof. The Parties further agree that Time Extension hereunder shall only be reckoned for and in respect of the affected Works as specified in Clause 10.5 (ii). (iii) The Authority shall notify the Contractor of its decision to impose Damages in pursuance with the provisions of this Clause 10.3. Provided that no deduction on account of Damages shall be effected by the Authority without notifying the Contractor of its decision to impose the Damages, and taking into consideration the representation, if any, made by the Contractor within 20 (twenty) days of such notice. The Parties expressly agree that the total amount of Damages under Clause 10.3 (ii) shall not exceed 10% (ten percent) of the Contract Price. If the damages exceed 10% (ten percent) of the Contract Price, the Contractor shall be deemed to be in default of this agreement having no cure and the Authority shall be entitled to terminate this Agreement by issuing a Termination Notice in accordance with the provisions of Clause 23.1 (ii). (iv) In the event that the Contractor fails to achieve the Project Completion within a period of 90 (ninety) days from the Schedule Completion Date set forth in Schedule-J, unless such failure has occurred due to Force Majeure or for reasons solely attributable to the Authority, the contractor shall be deemed to be ineligible for bidding any future projects of the Authority, both as the sole party or as one of the parties of Joint Venture/ Consortium during the period from Scheduled Completion Date to issuance of Completion Certificate. This restriction is applicable if the contract value of the delayed project is not less than Rs. 300 Crore.

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