Common use of Repairs; Maintenance and Compliance Clause in Contracts

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.

Appears in 5 contracts

Samples: Loan Agreement (Behringer Harvard Reit I Inc), Loan Agreement (Behringer Harvard Reit I Inc), Loan Agreement (Behringer Harvard Reit I Inc)

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Repairs; Maintenance and Compliance. Borrowers Borrower shall at all times maintain, preserve and protect all franchises and trade names, and Borrowers 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). Borrowers Borrower shall promptly comply with all Legal Requirements and immediately cure properly any violation of a Legal Requirement. Borrowers Borrower shall notify Lender in writing within three two (2) Business Days after any Borrower first receives notice of any such non-compliance. Borrowers 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.

Appears in 5 contracts

Samples: Loan Agreement (Hines Global REIT, Inc.), Loan Agreement (KBS Real Estate Investment Trust, Inc.), Loan Agreement (KBS Real Estate Investment Trust, Inc.)

Repairs; Maintenance and Compliance. Borrowers Borrower shall at all times maintain, preserve and protect all franchises and trade names, and Borrowers 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). Borrowers Borrower shall promptly comply with all Legal Requirements and immediately promptly cure properly any violation of a Legal Requirement. Borrowers Borrower shall notify Lender in writing within three (3) Business Days after any Borrower first receives notice of any such non-compliance. Borrowers 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.

Appears in 3 contracts

Samples: Loan Agreement (Thomas Properties Group Inc), Loan Agreement (Thomas Properties Group Inc), Loan Agreement (Thomas Properties Group Inc)

Repairs; Maintenance and Compliance. Borrowers Borrower shall at all times maintain, preserve and protect all franchises and trade names, and Borrowers 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). Borrowers Borrower shall promptly comply with all Legal Requirements and immediately cure properly any violation of a Legal Requirement. Borrowers Borrower shall notify Lender in writing within three one (1) Business Days Day after any Borrower first receives notice of any such non-compliance. Borrowers 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.

Appears in 3 contracts

Samples: Loan Agreement (Thomas Properties Group Inc), Loan Agreement (Thomas Properties Group Inc), Loan Agreement (Thomas Properties Group Inc)

Repairs; Maintenance and Compliance. Borrowers shall at all times maintain, preserve and protect all franchises and trade names, and Borrowers shall cause the Property Properties 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 five (5) Business Days after any Borrower first receives notice of any such non-compliance. Borrowers shall promptly repair, replace or rebuild any part of the any 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.

Appears in 2 contracts

Samples: Loan Agreement (Supertel Hospitality Inc), Loan Agreement (Humphrey Hospitality Trust Inc)

Repairs; Maintenance and Compliance. Borrowers Borrower shall at all times maintain, preserve and protect all franchises and trade names, and Borrowers 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). Borrowers Borrower shall promptly comply with all Legal Requirements and immediately cure properly any violation of a Legal Requirement. Borrowers Borrower shall notify Lender in writing within three one Business Days Day after any Borrower first receives notice of any such non-compliance. Borrowers 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.

Appears in 2 contracts

Samples: Loan Agreement (Prime Group Realty Trust), Loan Agreement (Amerivest Properties Inc)

Repairs; Maintenance and Compliance. Borrowers Borrower shall at all times maintain, preserve and protect all franchises and trade names, and Borrowers 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). Borrowers Borrower shall promptly comply with all Legal Requirements and immediately promptly cure properly any violation of a Legal Requirement. Borrowers Borrower shall notify Lender in writing within three five (5) Business Days after any Borrower first receives written notice of any such non-compliance. Borrowers Borrower shall promptly repair, replace or rebuild (or cause to be repaired, replaced or rebuilt) 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.

Appears in 2 contracts

Samples: Loan Agreement (Inland Real Estate Income Trust, Inc.), Loan Agreement (Inland Real Estate Income Trust, Inc.)

Repairs; Maintenance and Compliance. Borrowers Borrower shall at all times maintain, preserve and protect all franchises and trade names, and Borrowers 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 4.12.2 below and normal replacement of Equipment with Equipment of equivalent value and functionality). Borrowers Borrower shall promptly comply with all Legal Requirements and immediately cure properly any violation of a Legal Requirement. Borrowers Borrower shall notify Lender in writing within three one (1) Business Days Day after any Borrower first receives notice of any such non-compliance. Borrowers 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.

Appears in 2 contracts

Samples: Loan Agreement (City Office REIT, Inc.), Loan Agreement (Carter Validus Mission Critical REIT, Inc.)

Repairs; Maintenance and Compliance. Borrowers Borrower shall at all times maintain, preserve and protect all franchises and trade names, and Borrowers 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). Borrowers Borrower shall promptly comply with all Legal Requirements and immediately cure properly any violation of a Legal Requirement. Borrowers Borrower shall notify Lender in writing within three one (l) Business Days Day after any Borrower first receives notice of any such non-compliancenoncompliance. Borrowers 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.

Appears in 2 contracts

Samples: Loan Agreement (Medalist Diversified REIT, Inc.), Loan Agreement (Medalist Diversified REIT, Inc.)

Repairs; Maintenance and Compliance. Borrowers Borrower shall at all times maintain, preserve and protect all any franchises and trade names, and Borrowers 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 4.12.2 below and normal replacement of Equipment with Equipment of equivalent value and functionality). Borrowers Borrower shall promptly comply with all Legal Requirements and immediately cure properly any known, material violation of a Legal Requirement. Borrowers Borrower shall notify Lender in writing within three (3) Business Days after any Borrower first receives notice of any such non-compliance. Borrowers Borrower shall promptly repair, replace or rebuild any part of the Property that becomes damageddamaged (subject to the terms contained in Article V), worn or dilapidated and shall complete and pay for any Improvements at any time in the process of construction or repair.

Appears in 1 contract

Samples: Loan Agreement (Bluerock Residential Growth REIT, Inc.)

Repairs; Maintenance and Compliance. Borrowers Borrower shall at all times maintain, preserve and protect all franchises and trade names, and Borrowers 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 hereof and normal replacement of Equipment with Equipment of equivalent value and functionality). Borrowers Borrower shall promptly comply with all Legal Requirements and immediately promptly cure properly any violation of a Legal Requirement. Borrowers Borrower shall notify Lender in writing within three (3) Business Days after any Borrower first receives notice of any such non-compliance. Borrowers 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.

Appears in 1 contract

Samples: Loan Agreement (Condor Hospitality Trust, Inc.)

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Repairs; Maintenance and Compliance. Borrowers shall at all times maintain, preserve and protect all franchises and trade names, and Borrowers shall cause the Property Properties to be maintained in a good and safe condition and repair and shall not remove, demolish or alter the Improvements or Equipment (except for Capital Expenses and alterations performed in accordance with Section 5.4.2 hereof and normal replacement of Equipment with Equipment of equivalent value and functionality). Borrowers shall promptly comply with all Legal Requirements and immediately promptly cure properly any violation of a Legal Requirement. Borrowers shall notify Lender in writing within three one (1) Business Days Day after any Borrower first receives notice of any such non-compliance. Borrowers shall promptly repair, replace or rebuild any part of the any 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.

Appears in 1 contract

Samples: Loan Agreement (Parking REIT, Inc.)

Repairs; Maintenance and Compliance. Borrowers Borrower shall at all times maintain, preserve and protect all franchises and trade names, and Borrowers 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). Borrowers Borrower shall promptly comply with all Legal Requirements and immediately cure properly any violation of a Legal Requirement. Borrowers Borrower shall notify Lender in writing within three two (2) Business Days after any Borrower first receives notice of any such non-compliance. Borrowers 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.repair 33

Appears in 1 contract

Samples: Loan Agreement (Hines Global REIT, Inc.)

Repairs; Maintenance and Compliance. Borrowers Borrower shall at all times maintain, preserve and protect all franchises and trade names, and Borrowers 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). Borrowers Borrower shall promptly comply with all Legal Requirements and immediately cure properly any violation of a Legal Requirement. Borrowers Borrower shall notify Lender in writing within three (3) Business Days after any Borrower first receives written notice of any such non-compliancenon‑compliance. Borrowers 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.

Appears in 1 contract

Samples: Loan Agreement (American Realty Capital Daily Net Asset Value Trust, Inc.)

Repairs; Maintenance and Compliance. Borrowers Borrower shall at all times maintain, preserve and protect all franchises and trade names, and Borrowers 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 5.3.2 and normal replacement of Equipment with Equipment of equivalent value and functionality). Borrowers Borrower shall promptly comply with all Legal Requirements and immediately cure properly any violation of a Legal Requirement. Borrowers Borrower shall notify Lender in writing within three one Business Days Day after any Borrower first receives notice of any such non-compliance. Borrowers 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.

Appears in 1 contract

Samples: Loan Agreement (World Wrestling Entertainmentinc)

Repairs; Maintenance and Compliance. Borrowers shall at all times maintain, preserve and protect all franchises and trade names, and Borrowers shall cause the Property Properties 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). 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 five (5) Business Days Day after any Borrower first receives notice of any such non-compliance. Borrowers shall promptly repair, replace or rebuild any part of the any 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.

Appears in 1 contract

Samples: Loan Agreement (Inland Diversified Real Estate Trust, Inc.)

Repairs; Maintenance and Compliance. Borrowers Borrower shall at all times maintain, preserve and protect all franchises and trade names, and Borrowers Borrower shall cause the each Borrowing Base 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 4.6.2 and normal replacement of Equipment with Equipment of equivalent value and functionality). Borrowers Borrower shall promptly comply with all Legal Requirements and immediately cure properly any violation of a Legal Requirement. Borrowers Borrower shall notify Lender in writing within three one Business Days Day after any Borrower first receives notice of any such non-compliance. Borrowers Borrower shall promptly repair, replace or rebuild any part of the any Borrowing Base 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.

Appears in 1 contract

Samples: Loan Agreement (GTJ REIT, Inc.)

Repairs; Maintenance and Compliance. Borrowers Borrower shall at all times maintain, preserve and protect all franchises and trade names, and Borrowers 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). Borrowers Borrower shall promptly comply with all Legal Requirements and immediately cure properly any violation of a Legal Requirement. Borrowers Borrower shall notify Lender Administrative Agent in writing within three five (5) Business Days after any Borrower first receives written notice of any such non-compliance. Borrowers 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.

Appears in 1 contract

Samples: Loan Agreement (American Realty Capital New York City REIT, Inc.)

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