Common use of Operations and Maintenance Programs Clause in Contracts

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 Where recommended by the Environmental Report or any other environmental assessment or audit of the Mortgaged Property, Borrower the Issuer shall establish and comply with an operations and maintenance program with respect to the Mortgaged Property, in form and substance reasonably acceptable to Lenderthe Property Manager, prepared by an environmental consultant reasonably acceptable to Lenderthe Property Manager, which program may shall address any dangerous or friable asbestos-containing material or damaged lead 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 Mortgaged Property. Without limiting the generality of the preceding sentence, Lender the Property Manager may reasonably require, provided it has a good faith, reasonable basis to do so, require (a) periodic notices or reports to Lender with regard to Borrower’s operations and maintenance programs the Property Manager in form, substance and at such intervals as Lender the Property Manager may reasonably specify, (b) an amendment to such operations and maintenance program to address changing circumstances or lawsEnvironmental Law, (c) at Borrowerthe Issuer’s sole expense, supplemental examination of the Mortgaged Property by consultants specified by Lenderthe Property Manager, (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 Mortgaged Property by Lenderthe Property Manager, its agents or servicer, to review and assess the environmental condition of the Mortgaged Property and Borrowerthe Issuer’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 consultantsconsultants and (f) where reasonably required, the removal or abatement of asbestos-containing material or lead-based paint present at the Mortgaged Property.