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 below and normal replacement of Equipment with Equipment 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 two (2) 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 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 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 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 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. 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 shall at all times maintain, preserve and protect all franchises and trade names, and Borrower shall cause the Mortgage Borrower to cause the Properties to be maintained in a good and safe condition and repair and shall not, and shall not permit Mortgage Borrower to 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, and shall cause Mortgage Borrower to, promptly comply with all Legal Requirements and promptly cure properly any violation of a Legal Requirement (it being understood that, with respect to RPTL Tax Benefits Law and Rent Regulation Laws, compliance with Section 4.34 shall constitute compliance with Legal Requirements hereunder). After prior notice to Agent, Borrower, at its own expense, may, and may cause Mortgage Borrower to, contest by appropriate legal proceeding, promptly initiated and conducted in good faith and with due diligence, the need to cure any such violation of Legal Requirements, provided that (i) no Event of Default has occurred and is continuing; (ii) such proceeding shall be permitted under and be conducted in accordance with all applicable statutes, laws and ordinances; (iii) neither the applicable Property nor Collateral nor any part thereof or interest therein will be in imminent danger of being sold, forfeited, terminated, canceled or lost; (iv) Borrower or Mortgage Borrower shall promptly upon final determination thereof complete such cure, together with all costs, interest and penalties which may be payable in connection therewith; (v) as may reasonably be requested by Agent, Borrower shall deliver to Agent either (A) cash, or other security as may be reasonably acceptable to Agent, in an amount equal to one hundred ten percent (110%) of the costs necessary to cure such violation or (B) a payment and performance bond in an amount equal to one hundred percent (100%) of the costs necessary to cure such violation from a surety acceptable to Agent in its reasonable discretion (provided that if Mortgage Lender is requiring such cash or security pursuant to Section 4.12.1 of the Mortgage Loan Agreement, Agent shall not have the right to require any further cash or security so long as the provisions of Section 4.12.1 of the Mortgage Loan Agreement are complied with), (vi) failure to cure such violation will not subject Agent or any Lende...
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.
