Operations and Maintenance Programs. Where recommended by the Environmental Report or as a result of any other environmental assessment or audit of the Property, Borrower shall establish and comply with an operations and maintenance program with respect to the Property, in form and substance reasonably acceptable to Lender, prepared by an environmental consultant reasonably acceptable to Lender, which program shall address any asbestos containing material or lead based paint that may now or in the future be detected at or on the Property. Without limiting the generality of the preceding sentence, Lender may require (a) periodic notices or reports to Lender in form, substance and at such intervals as Lender may specify, (b) an amendment to such operations and maintenance program to address changing circumstances, laws or other matters, (c) at Borrower's sole expense, supplemental examination of the Property by consultants specified by Lender, (d) access to the Property by Lender, its agents or servicer, to review and assess the environmental condition of the Property and Borrower's compliance with any operations and maintenance program, and (e) variation of the operations and maintenance program in response to the reports provided by any such consultants.
Operations and Maintenance Programs. If recommended by the Environmental Report or any other environmental assessment or audit of the Property, Borrower shall establish and comply with an operations and maintenance program with respect to the Property, in form and substance reasonably acceptable to Lender, prepared by an environmental consultant reasonably acceptable to Lender, which program may address any dangerous or friable asbestos-containing material or damaged lead based paint that may now or in the future be detected at or on the Property, provided it is recommended in such Environmental Report or other environmental assessment or audit of the Property. Without limiting the generality of the preceding sentence, Lender may reasonably require, provided it has a good faith, reasonable basis to do so, (a) periodic notices or reports to Lender with regard to Borrower’s operations and maintenance programs in form, substance and at such intervals as Lender may reasonably specify, (b) an amendment to such operations and maintenance program to address changing circumstances or laws, (c) at Borrower’s sole expense, supplemental examination of the Property by consultants specified by Lender, (d) provided Lender gives Borrower at least 2 days advance notice and agrees to use reasonable efforts to minimize interference with any tenants, access to the Property by Lender, its agents or servicer, to review and assess the environmental condition of the Property and Borrower’s compliance with any operations and maintenance program, and (e) variation of the operations and maintenance program in response to the reports provided by any such consultants.
Operations and Maintenance Programs. If recommended by the Environmental Report or any other environmental assessment or audit of any Individual Property, Borrower shall cause Property Owners to establish, and thereafter comply, with an operations and maintenance program with respect to such Individual Property, in form and substance reasonably acceptable to Lender, prepared by an environmental consultant reasonably acceptable to Lender, which program shall address any asbestos-containing material or lead based paint or Mold that may now or in the future be detected at or on the Property. Without limiting the generality of the preceding sentence, Lender may require (a) periodic notices or reports to Lender in form, substance and at such intervals as Lender may specify, (b) an amendment to such operations and maintenance program to address changing circumstances, laws or other matters, (c) at Borrower’s sole expense, supplemental examination of the subject Individual Property by consultants specified by Lender, (d) access to such Individual Property by Lender, its agents or servicer, to review and assess the environmental condition of such Individual Property and Property Owners’ compliance with any operations and maintenance program, and (e) variation of the operations and maintenance program in response to the reports provided by any such consultants.
Operations and Maintenance Programs. 82 Section 12.5.
Operations and Maintenance Programs. If recommended by the Environmental Report or any other environmental assessment or audit of the Property, Borrower shall cause Mortgage Borrower to establish and comply with an operations and maintenance program with respect to the Property, in form and substance reasonably acceptable to Lender, prepared by an environmental consultant reasonably acceptable to Lender, which program shall address any asbestos-containing material or lead based paint that may now or in the future be detected at or on the Property. Without limiting the generality of the preceding sentence, Lender may require (a) periodic notices or reports to Lender with regard to Borrower's operations and maintenance programs in form, substance and at such intervals as Lender may specify, (b) an amendment to such operations and maintenance program to address changing circumstances, laws or other matters, (c) at Borrower's sole expense, supplemental examination of the Property by consultants specified by Lender, (d) provided Lender gives Borrower at least 2 days advance notice and agrees to use reasonable efforts to minimize interference with any tenants, access to the Property by Lender, its agents or servicer, to review and assess the environmental condition of the Property and Mortgage Borrower's compliance with any operations and maintenance program, and (e) variation of the operations and maintenance program in response to the reports provided by any such consultants.
Operations and Maintenance Programs. 75 Section 12.5. Environmental Definitions............................... 75 Section 12.6. Indemnification......................................... 76
Operations and Maintenance Programs. [CHOOSE ONE: N/A OR An O&M Program is required for the Mortgaged Property for [asbestos containing materials][lead-based paint][other-describe]. New Borrower acknowledges and agrees that it must either (i) assume the existing O&M Program(s) for the Mortgaged Property or (ii) within 90 days after the date of this Assumption Agreement, establish and maintain new O&M Program(s) for the Mortgaged Property in accordance with the Loan Documents (as modified by this Assumption Agreement).]
Operations and Maintenance Programs. If recommended by the Environmental Report or any other environmental assessment or audit of the Property (including, without limitation, any assessment or audit performed after the date hereof), Indemnitor shall establish and comply with an operations and maintenance program with respect to the Property, in form and substance reasonably acceptable to Indemnitee, prepared by an environmental consultant reasonably acceptable to Indemnitee (each such program, as applicable, the “O&M Program”), which O&M Program shall address any asbestos-containing material or lead based paint that may now or in the future be detected at or on the Property. Borrower shall not permit any O&M Program to be amended, terminated, replaced or otherwise modified, in each case, without obtaining Lender’s prior written consent thereto, not to be unreasonably withheld. Without limiting the generality of the foregoing, Indemnitee may require in its reasonable discretion (a) periodic notices or reports to Indemnitee in form, substance and at such intervals as Indemnitee may specify, (b) an amendment to any O&M Program to address changing circumstances, laws or other matters, (c) access to the Property by Indemnitee, its agents or servicer, to review and assess the environmental condition of the Property and Indemnitor’s compliance with any O&M Program and (e) variation of any O&M Program in response to the reports provided by any such consultants. Indemnitor’s failure to comply with the foregoing provisions of this Section within thirty (30) days of notice from Indemnitee shall, at Indemnitee’s option, constitute an Event of Default. Without limitation of the foregoing, Borrower hereby acknowledges and agrees that (i) as of the date hereof, Borrower has established the Operations and Maintenance Plan for Asbestos-Containing Materials dated as of January 27, 2015 (the “Closing Date O&M Program”) and (ii) the Closing Date O&M Program shall constitute an “O&M Program” for purposes hereof. Borrower shall continue to implement the Closing Date O&M Program for the Property, and shall diligently comply with the requirements of the Closing Date O&M Program during the term of the Loan. The Closing Date O&M Program shall be in compliance in all material respects with all applicable Legal Requirements and shall be subject to the reasonable approval of Indemnitee. Indemnitee’s requirement that Borrower comply with the Closing Date O&M Program shall not be deemed to constitute a waiver or a modifica...
Operations and Maintenance Programs. If recommended by the Environmental Report or any other assessment or audit of the Property (including, without limitation, any assessment or audit performed after the date hereof), Indemnitor shall implement and comply with an operations and maintenance program with respect to the Property, in form and substance reasonably acceptable to Indemnitee, prepared by an environmental consultant reasonably acceptable to Indemnitee, which program shall address any asbestos-containing material, lead based paint, mold and/or other applicable conditions that may now or in the future be detected at or on the Property. Without limiting the generality of the preceding sentence, with respect to such operations and maintenance programs, Indemnitee may require (a) periodic notices or reports to Indemnitee in form, substance and at such intervals as Indemnitee may reasonably specify, (b) an amendment to such operations and maintenance program to address changing circumstances, laws or other matters and (c) at Indemnitor’s sole cost and expense, supplemental examination of the Property by consultants specified by Indemnitee. Indemnitor’s failure to comply with the foregoing provisions of this Section 7 within thirty (30) days of notice from Indemnitee shall, at Indemnitee’s option, constitute an Event of Default.
Operations and Maintenance Programs. The Borrowers that own the Individual Properties referred to on Schedule K annexed hereto shall cause such Individual Properties to be operated and maintained in all material respects in accordance with those certain operations and maintenance programs, approved by the Environmental Consultant, listed on Schedule K and shall deliver an Officer's Certificate to Lender within thirty (30) days of the Closing Date stating that such Borrowers have instructed the relevant employees at such Individual Property in compliance with such operations and maintenance program.
