Repairs; Maintenance and Compliance. Borrowers shall at all times maintain, preserve and protect all franchises and trade names, and Borrowers shall cause the Property to be maintained in a good and safe condition and repair and shall not remove, demolish or alter the Improvements or Equipment (except for alterations performed in accordance with Section 5.4.2 and normal replacement of Equipment with Equipment of equivalent value and functionality). Borrowers shall promptly comply with all Legal Requirements and immediately cure properly any violation of a Legal Requirement. Borrowers shall notify Lender in writing within three Business Days after any Borrower first receives notice of any such non-compliance. Borrowers shall promptly repair, replace or rebuild any part of the Property that becomes damaged, worn or dilapidated and shall complete and pay for any Improvements at any time in the process of construction or repair.
Repairs; Maintenance and Compliance. Borrower shall at all times maintain, preserve and protect all franchises and trade names, and Borrower shall cause the Property to be maintained in a good and safe condition and repair and shall not remove, demolish or alter the Improvements or Equipment (except for alterations performed in accordance with Section 5.4.2 and normal replacement of Equipment with Equipment of equivalent value and functionality). Borrower shall promptly comply with all Legal Requirements, including, without limitation, Prescribed Laws, and immediately cure properly any violation of a Legal Requirement, including, without limitation, Prescribed Laws; provided, however, that after prior written notice to Lender, Borrower, at its own expense, may contest by appropriate legal proceeding, promptly initiated and conducted in good faith and with due diligence, such Legal Requirement, provided that (i) no Event of Default has occurred and is continuing; (ii) such proceeding shall not be prohibited by the provisions of any other instrument to which Borrower is subject and shall not constitute a default thereunder and such proceeding shall be conducted in accordance with all applicable statutes, laws and ordinances; (iii) neither the Property nor any part thereof or interest therein will be in danger of being sold, forfeited, terminated, cancelled or lost; (iv) Borrower shall promptly upon final determination thereof comply with such Legal Requirement and pay all costs, interest and penalties which may be payable in connection therewith; and (v) such proceeding shall suspend the requirement of Borrower to comply with such Legal Requirement. Borrower shall notify Lender in writing within one Business Day after Borrower first receives notice of any such non-compliance. Borrower shall promptly repair, replace or rebuild any part of the Property that becomes damaged, worn or dilapidated and shall complete and pay for any Improvements at any time in the process of construction or repair.
Repairs; Maintenance and Compliance. Borrower shall at all times maintain, preserve and protect all franchises and trade names, and Borrower shall cause the Property to be maintained in a good and safe condition and repair and shall not remove, demolish or alter the Improvements or personal property (including equipment and fixtures) (except for alterations performed in accordance with Section 4.12.2 below and normal replacement of personal property (including equipment and fixtures) with personal property (including equipment and fixtures) of equivalent value and functionality). Borrower shall promptly comply with all Legal Requirements and immediately cure properly any violation of a Legal Requirement. Borrower shall notify Lender in writing within three (3) Business Days after Borrower first receives notice of any such non-compliance. Borrower shall promptly repair, replace or rebuild any part of the Property that becomes damaged, worn or dilapidated and shall complete and pay for any Improvements at any time in the process of construction or repair.
Repairs; Maintenance and Compliance. Borrower shall cause Owner to at all times maintain, preserve and protect all franchises and trade names, and Borrower shall cause Owner to maintain the Property in a good and safe condition and repair and shall not (and shall not permit Owner to) remove, demolish or alter the Improvements or Equipment (except for alterations performed in accordance with Section 5.4.2 and normal replacement of Equipment with Equipment of equivalent value and functionality). Borrower shall promptly comply with all Legal Requirements and immediately cure (or cause Owner to cure) properly any violation of a Legal Requirement. Borrower shall notify Lender in writing within two (2) Business Days after Borrower first receives notice of any such non-compliance. Borrower shall (or shall cause Owner to) promptly repair, replace or rebuild any part of the Property that becomes damaged, worn or dilapidated and shall (or shall cause Owner to) complete and pay for any Improvements at any time in the process of construction or repair.
Repairs; Maintenance and Compliance. Borrower shall at all times maintain, preserve and protect all franchises and trade names, and Borrower shall cause the Property to be maintained in a good and safe condition and repair and shall not remove, demolish or alter the Improvements or Equipment (except for alterations performed in accordance with Section 4.12.2 below and normal replacement of Equipment with Equipment of equivalent value and functionality). Borrower shall promptly comply with all Legal Requirements (including municipal, state and federal laws) and immediately cure properly any violation of a Legal Requirement. Borrower also hereby covenants and agrees that it shall not commit, permit or suffer to exist any illegal commercial activities or commercial activities relating to controlled substances at the Property (including, without limitation, any growing, distributing and/or dispensing of marijuana for commercial purposes, medical or otherwise for so long as the foregoing is a violation of a Legal Requirement of any applicable Governmental Authority). Borrower shall notify Lender in writing within one (1) Business Day after Borrower first receives notice of any such non-compliance. Borrower shall promptly repair, replace or rebuild any part of the Property that becomes damaged, worn or dilapidated and shall complete and pay for any Improvements at any time in the process of construction or repair.
Repairs; Maintenance and Compliance. Borrower and Leasehold Pledgor shall at all times cause Owner and Operating Lessee to maintain, preserve and protect all franchises and trade names, and Borrower and Leasehold Pledgor shall cause Owner and Operating Lessee to cause each Individual Property to be maintained in a good and safe condition and repair and shall not remove, demolish or alter the Improvements or Equipment (except for alterations performed in accordance with Section 4.12.2 below and normal replacement of Equipment with Equipment of equivalent value and functionality). Borrower and Leasehold Pledgor shall cause Owner and Operating Lessee to promptly comply with all Legal Requirements and immediately cure properly any violation of a Legal Requirement. Borrower and Leasehold Pledgor shall (or cause Owner or Operating Lessee to) promptly notify Lender in writing after Borrower or Leasehold Pledgor first receives notice of any such non-compliance. Borrower and Leasehold Pledgor shall cause Owner and Operating Lessee to promptly repair, replace or rebuild any part of any Individual Property that becomes damaged, worn or dilapidated (subject to Article V) and shall complete and pay for any Improvements at any time in the process of construction or repair. Borrower and Leasehold Pledgor acknowledge and agree that, with respect to any Individual Properties that have fewer parking spaces than are required under the applicable zoning regulations, (a) each such Individual Property could be brought into compliance with the applicable zoning regulations with respect to parking count solely by restriping the parking lot(s) and/or parking garage(s) located at such Individual Property and (b) Borrower and Leasehold Pledgor shall cause Owner and Operating Lessee to bring each such Individual Property into compliance with applicable zoning regulations with respect to parking count promptly following the request by any Governmental Authority to do so.
Repairs; Maintenance and Compliance. Borrower shall cause the Property to be maintained in a good and safe condition and repair and shall not remove, demolish or materially alter the Improvements or Equipment (except for the construction of the Required Improvements in accordance with the BLA and normal replacement of the Equipment or restoration pursuant to Section 7.2 herein). Borrower shall promptly comply with all Legal Requirements and commence and diligently continue to cure properly any violation of a Legal Requirement which materially and adversely affects the financial condition of the Property or the ability of Borrower to conduct its business, within thirty (30) days after Borrower receives notice of such violation, provided that Borrower shall have the right to contest same if it complies with the Contest Procedures. Borrower shall, in a good and workmanlike manner using materials of a quality at least equal to that originally installed at the Property, promptly repair, replace or rebuild any part of the Property that becomes damaged (subject to Section 7.2 herein), worn or dilapidated and shall complete and pay for any Improvements at any time in the process of construction or repair. Borrower may perform alterations without obtaining Lender's consent for alterations which (i) are required under the BLA, (ii) do not alter the footprint of the Property, (iii) do not change the number of units, (iv) are contemplated in the Annual Budget approved by Lender, or (v) which do not otherwise constitute material renovations.
Repairs; Maintenance and Compliance. Borrower will cause the Property to be maintained in a good and safe condition and repair and will not remove, demolish or alter the Improvements or Equipment (except for the normal replacement of Equipment with Equipment of equivalent value and functionality). Borrower will promptly comply with all Legal Requirements and immediately cure properly any violation of a Legal Requirement. Borrower will notify Lender in writing within one Business Day after Borrower first receives notice of any such non-compliance. Borrower will promptly repair, replace or rebuild any part of the Property that becomes damaged, worn or dilapidated and will complete and pay for any Improvements at any time in the process of construction or repair. There will never be committed by Borrower and Borrower will not permit any other Person in occupancy of or involved with the operation or use of the Property to commit any act or omission affording any Governmental Authority the right of forfeiture against the Property or any part thereof or any monies paid in performance of Borrower’s obligations under any of the Loan Documents. Borrower hereby covenants and agrees not to commit, permit or suffer to exist any act or omission affording such right of forfeiture.
Repairs; Maintenance and Compliance. (a) Borrower shall cause ----------------------------------- the Properties to be maintained in a good and safe condition and repair and shall not remove, demolish or materially alter the Improvements or Equipment (except for normal replacement of the Equipment). Notwithstanding the foregoing, it shall not be a Default for Borrower to perform (i) tenant improvements required by the terms of the Leases to be performed by Borrower (or for tenants to perform tenant improvements permitted by the terms of the Leases to be performed by the tenants thereunder), (ii) capital expenditures made in the ordinary course of Borrower's business, including without limitation facade renovations, (iii) pad development under Leases approved by Lender, (iv) Restoration in accordance with the terms, conditions and provisions of Sections 7.2, 7.3 and 7.4 of this Agreement, and (v) nonstructural alterations (except as expressly provided in the foregoing clause (iii)) not affecting building systems, changing the amount of gross leasable area of any Property or any of the common areas constituting a part thereof, or changing the use of the Property from retail and other ancillary and related uses. Borrower shall promptly comply with all Legal Requirements, subject to Borrower's right to contest Legal Requirements as provided below in this Section. In connection with any and all repairs, improvements or alterations carried out at the Properties (or any of them) the cost of which for any one project exceeds the sum of $300,000, Borrower shall deliver to Lender an Officer's Certificate (A) certifying that all such work has been completed in a good and workmanlike manner and in accordance with all applicable Legal Requirements, (B) identifying each Person that supplied materials or labor in connection with such work and (C) stating that each such Person has been or will be paid in full and, at Lender's option and promptly upon request by Lender, any or all of the following: (i) copies of appropriate Lien waivers or other evidence of payment satisfactory to Lender, (ii) a title search for the Property in question, indicating that it is free of all Liens not previously approved by Lender (other than Permitted Encumbrances as to which this Agreement expressly provides that Lender's prior approval is not required), (iii) copies of all Licenses required by applicable law in connection with such work and (v) such other evidence as Lender shall reasonably request that the work has been compl...
Repairs; Maintenance and Compliance. Borrower and Operating Lessee shall at all times maintain, preserve and protect all franchises and trade names owned by Borrower and Operating Lessee, and Borrower shall cause (or shall cause Operating Lessee to cause) the Property to be maintained in a good and safe condition and repair and shall not remove, demolish or alter the Improvements or Equipment (except for the PIP Project performed in accordance with the Project Loan Agreement, alterations performed in accordance with Section 5.3.2 and normal replacement of Equipment with Equipment of equivalent value and functionality). Borrower shall promptly comply (or shall cause Operating Lessee to promptly comply) with all Legal Requirements and promptly cure properly any violation of a Legal Requirement. Borrower shall notify (or shall cause Operating Lessee to notify) Lender in writing within five (5) Business Days after either of them first receives notice of any such non–compliance. Borrower shall promptly repair, replace or rebuild (or shall cause Operating Lessee to promptly repair, replace or rebuild) any part of the Property that becomes damaged, worn or dilapidated and shall complete and pay (or shall cause Operating Lessee to complete and pay) for any Improvements at any time in the process of construction or repair.
