Common use of Concession Agreements Clause in Contracts

Concession Agreements. Borrower shall cause Mortgage Borrower to (a) cause the parking areas to be operated pursuant to the related Concession Agreements; (b) promptly perform and/or observe in all material respects all of the covenants, agreements and obligations required to be performed and observed by Mortgage Borrower under the Concession Agreements and do all things necessary to preserve and to keep unimpaired its material rights thereunder; (c) promptly notify Lender of any default under any Concession Agreements upon becoming aware of the same; (d) to the extent reasonably requested by Lender, promptly deliver to Lender a copy of each financial statement, business plan, capital expenditures plan, notice, report and estimate received by Mortgage Borrower under the Concession Agreements; and (e) promptly enforce to the extent commercially reasonable the performance and observance of all of the covenants and agreements required to be performed and/or observed by the Operator under the Concession Agreements.