Owner Compliance Clause Samples

The Owner Compliance clause requires the property owner to adhere to all relevant laws, regulations, and contractual obligations associated with the project or property. In practice, this means the owner must obtain necessary permits, follow zoning requirements, and ensure that their actions do not violate any legal or regulatory standards. This clause serves to allocate responsibility for legal compliance to the owner, thereby reducing risk for other parties and ensuring the project proceeds without legal complications.
Owner Compliance. The Owner shall have fully complied with all of its obligations hereunder required to be performed on or prior to the Closing Date;
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Owner Compliance. ‌ The Owner must, if it is not a Registered Participant, comply with the Rules as if it were, for the purposes of this agreement and the Network Operating Agreement.
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Owner Compliance. The Owner must: (a) reinstate an Insurance if it lapses; (b) not do or permit to be done any act that may cause the Insurance to be avoided, cancelled or adversely affected unless it has Powerlink’s written consent; and (c) notify Powerlink if: (i) the Owner gives the insurer a notice under the Insurance policy (including a notice of claim) relevant to Powerlink’s interests; or (ii) the insurer intends to change or cancel the Insurance policy where such change or cancellation would significantly reduce Powerlink’s ability to benefit from the Insurance.
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Owner Compliance. A. Owner agrees to provide Agent with any and all condominium and/or homeowners’ association rules and regulations and the Declaration of Covenants and By-Laws, where applicable. If none are provided, Agent is authorized to obtain said documents at Owner’s expense. B. Except where caused by any negligent act or omission of Agent or Agent’s employees, Agents or contractors, the Agent does not assume and is given no responsibility for compliance of any part of the Property’s improvements with the requirements of any statute, ordinance, law or regulation of governmental body of any jurisdiction governing the Property, except to notify Owner promptly or forward to Owner promptly any complaints, warnings, notices or summons received by Agent relating to such matters. Owner agrees to indemnify and hold harmless Agent and Agent’s employees, Agents or contractors, of and from all loss, cost, expense and liability of any present or future violation or alleged violation of such laws, ordinances, statutes or regulations except where caused by any negligent act or omission of Agent or Agent’s employees, Agents or contractors. C. Owner warrants that the Property is currently and shall remain in a sound and safe condition, that the Property complies with all applicable county, state, municipal building, housing and zoning codes, and that the Property is suitable for occupancy. If, at any time, including but not limited to the jurisdictional Housing Authority or its independent contractor inspections, Agent, at Agent’s sole discretion, may contract for repairs that are necessary to make the property suitable for occupancy, at the Owner’s expense. D. Owner has authorized and executed this Agreement, and no additional approval or signatures from any lender, homeowners association, condominium or cooperative council or any other party are necessary to make this Agreement the legally binding obligation of Owner.
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Owner Compliance. OWNER agrees to maintain the Property in compliance with all applicable laws, rules and regulations as established and amended from time to time by governing authorities. In addition, OWNER shall maintain compliance with all insurance laws affecting the Property, as well as any and all OWNERs' Association rules and regulations applicable to the Property;
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Owner Compliance. Section 1.1 (a) Owner acknowledges that in order to qualify for property tax exemption for the Property under Indiana Code § 6-1.1-10-16.7, the Project must be in compliance with the requirements of § 6-1.1-10-16.7. (b) Owner further acknowledges that: (i) the mere execution of this PILOT Agreement does not confer any property tax exemption on the Property under Indiana Code § 6-1.1-10-16.7; (ii) in order to obtain any such property tax exemption or partial exemption under Indiana Code § 6-1.1-10-16.7, the Owner must timely file its property tax exemption application, including renewal applications, if any are required, with the Hancock County Assessor requesting an exemption pursuant to Indiana Code § 6-1.1-10-16.7 from Owner’s obligation to pay all or any portion of its real and personal property taxes on the Property; and (iii) the Owner must meet its burden of proof under Indiana law pursuant to the normal application and determination process applicable to Indiana Code § 6-1.1-10-16.7 to qualify for and receive such exemption.
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Related to Owner Compliance

  • Environmental Compliance (a) No Loan Party or Restricted Subsidiary (i) has failed to comply in all material respects with applicable Environmental Law or to obtain, maintain or comply with any Environmental Permit, (ii) has become subject to any Environmental Liability, (iii) has received notice of any claim with respect to any material Environmental Liability or (iv) has a Responsible Officer with knowledge of any basis for any material Environmental Liability, except, in each case, as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. (i) None of the properties currently or formerly owned or operated by any Loan Party or Restricted Subsidiary is or was listed or, to the knowledge of any Responsible Officer was proposed for listing on the NPL or on the CERCLIS or any analogous state or local list at any time while such property was owned by such Loan Party or, to the knowledge of any Responsible Officer, at any time prior to or after such property was owned by such Loan Party, and, to the knowledge of any Responsible Officer, no property currently owned or operated by any Loan Party or Restricted Subsidiary is adjacent to any such property, in each case in connection with any matter for which any Loan Party or Restricted Subsidiary would have any material Environmental Liability; (ii) there are no, or, to the knowledge of any Responsible Officer, never have been any underground or above-ground storage tanks or any surface impoundments, septic tanks, pits, sumps or lagoons in which Hazardous Materials are being or have been treated, stored or disposed on any property currently owned or operated by any Loan Party or Restricted Subsidiary in violation of any Environmental Laws or, to the knowledge of any Responsible Officer, on any property formerly owned or operated by any Loan Party or Restricted Subsidiary; (iii) there is no friable asbestos or friable asbestos-containing material on any property currently owned or operated by any Loan Party or Restricted Subsidiary; (iv) Hazardous Materials have not been Released, discharged or disposed of on any property currently or formerly owned or operated by any Loan Party or Restricted Subsidiary in violation of any Environmental Laws; and (v) to the knowledge of any Responsible Officer, there are no pending or threatened Liens under or pursuant to any applicable Environmental Laws on any real property or other assets owned or leased by any Loan Party or Restricted Subsidiary, and to the knowledge of any Responsible Officer, no actions by any Governmental Authority have been taken or are in process which would subject any of such properties or assets to such Liens, except, in the case of clauses (i) through (v) above, as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. (c) No Loan Party or Restricted Subsidiary is undertaking, and no Loan Party or Restricted Subsidiary has completed, either individually or together with other potentially responsible parties, any investigation or assessment or remedial or response action relating to any actual or threatened Release, discharge or disposal of Hazardous Materials at any site, location or operation, either voluntarily or pursuant to the order of any Governmental Authority or the requirements of any Environmental Law that has or would reasonably be expected to have a Material Adverse Effect; and all Hazardous Materials generated, used, treated, handled or stored at, or transported to or from, any property currently or formerly owned or operated by any Loan Party or Restricted Subsidiary have been disposed of in a manner not reasonably expected, individually or in the aggregate, to have a Material Adverse Effect.