Deferred Maintenance Clause Samples

Deferred Maintenance. If a Change in Control Transaction occurs, then within three (3) months before or after the date that is twenty-four (24) months prior to the expiration of the then-current Term (with respect to any Pool), Lessor may obtain, at Lessor’s cost, updated property condition assessments (each a “PCA”) for each of the Facilities in the applicable Pool. Based on the PCAs, Lessor shall (i) identify to Lessee items of deferred maintenance existing at such Facilities, if any (each a “Required Maintenance Project”), and (ii) propose to Lessee the Annual Minimum Capital Project Amount for the last twenty-four (24) months of such Term. Lessor shall provide Lessee with written notice detailing any Required Maintenance Projects and the proposed new Annual Minimum Capital Project Amount for such Pool within a reasonable time after Lessor’s receipt of the PCAs for all of such Facilities. Lessor and Lessee shall cooperate diligently and attempt in good faith to agree upon the Required Maintenance Projects and the new Annual Minimum Capital Project Amount for such Pool. To the extent that Lessor and Lessee are unable to reach agreement within twenty (20) days following Lessee’s receipt of Lessor’s notice, such dispute shall be resolved by one, two or three independent Persons having not less than ten (10) years of experience in performing assessments of the maintenance and condition of properties similar to the Facilities, which Persons shall (a) be selected and paid in the same manner in which Appraisers would be selected and paid pursuant to Article XXXIV and (b) make a determination with respect to the Required Maintenance Projects and/or the new Annual Minimum Capital Project Amount, as the case may be, for the applicable Pool in the same manner in which Appraisers would make a determination with respect to Fair Market Value, Fair Market Rental or Leasehold FMV pursuant to Article XXXIV (it being acknowledged, for avoidance of doubt, that (x) the fourth sentence of Section 34.1 shall not apply for purposes of this sentence and (y) with respect to determining the Required Portions of this exhibit that have been marked by [***] have been omitted pursuant to a request for confidential treatment filed separately with the Securities and Exchange Commission. Maintenance Projects, the first sentence of Section 34.1.1 shall not apply and a third Person shall be selected to make such determination if the first two Persons are unable to agree on the same). During a commercially rea...

Deferred Maintenance. The parties acknowledge and agree that as of the Execution Date there are certain identified items of deferred maintenance at the Premises, as listed in Exhibit “E” attached hereto and made a part hereof (each a “Deferred Maintenance Item” and together, the “Deferred Maintenance Items”). The parties hereby agree that Landlord shall complete such Deferred Maintenance Items prior to the Commencement Date at Landlord’s sole expense. The parties hereby agree that Landlord shall either complete such Deferred Maintenance Items prior to the Commencement Date at Landlord’s sole expense or, at Tenant’s election, such funds shall be paid to Tenant to utilize among the Related Facilities up to the total of the amount of all immediate costs listed on Exhibit “E”.

Deferred Maintenance. There shall be no open, outstanding, or deferred maintenance items, scheduled or unscheduled, against the Aircraft including those identified in pre-delivery inspections or test flights.

Deferred Maintenance. Borrower shall, within six (6) months of the date hereof, perform the deferred maintenance work (the “Deferred Maintenance”) to the Property itemized on Exhibit B hereto. Furthermore, Borrowers shall diligently perform, or cause to be performed, in a timely and workmanlike manner all repairs and maintenance contemplated by and itemized in the Approved Budget.

Deferred Maintenance. There shall be no open, outstanding or deferred maintenance items, scheduled or unscheduled, against the Aircraft including those identified in pre-delivery inspections or test flights.

Deferred Maintenance. District shall be responsible for the major maintenance of the Premises. For purposes of the Agreement, “major maintenance” includes, for example, the major repair or replacement of plumbing, heating, ventilation, air conditioning, electrical, roofing, and floor systems, exterior and interior painting, and any other items considered deferred maintenance under Education Code section 17582. All other kinds of maintenance shall be considered routine maintenance and shall also be the responsibility of District. The District shall only be obligated to perform deferred maintenance on the Premises on an equivalent basis as that performed at other comparable District school sites.

Deferred Maintenance. The Aircraft shall have had accomplished thereon all outstanding deferred maintenance items, carry-over items, configuration deviation list items and flight discrepancies. Items deferred because of maintenance concessions (i.e., an exemption to operate beyond the normal limits by monitoring) shall be brought up-to-date as if such maintenance concessions or exemptions did not exist. Components whose time status exceeds the conditions or requirements imposed by this Lease shall be brought into compliance with such conditions or requirements.

Deferred Maintenance. At the time of the Aircraft’s return, each Aircraft shall be current and in compliance with the Cessna 208B MRB or Pilatus PC-12 MRB, as applicable, without temporary extensions for convenience. Notwithstanding any mutual agreement between Lessor and Lessee to the contrary, there will be no open, outstanding, or deferred maintenance items, scheduled or unscheduled, against the Aircraft, including those identified in pre-return inspections or test flights;

Deferred Maintenance. (a) Lender has caused the Property to be inspected and such inspection has revealed that the Property is in need of certain maintenance, repairs and/or remedial or corrective work. Purchaser shall cause each of the required repairs described in that certain Property Condition Report dated September 28, 2015, and prepared by ▇▇▇▇▇▇▇▇ Environmental (the "Engineering Report"), a copy of which have been provided to, and receipt of which is hereby acknowledged by, Purchaser (the “Deferred Maintenance”) to be completed, performed, remediated and corrected to the reasonable satisfaction of Lender and in compliance with all applicable laws, ordinances, rules and regulations on or before January 14, 2017, as such time period may be extended by Lender in its sole discretion. Upon completion of each item of Deferred Maintenance, Purchaser shall deliver to Lender (1) copies of invoices, receipts or other evidence satisfactory to Lender verifying the costs of the Deferred Maintenance, and (2) either (i) a new (or amended) certificate of occupancy for the improvements affected by the performance of such Deferred Maintenance, if such new (or amended) certificate of occupancy is required by applicable law or regulation or (ii) a certificate made by Borrower to Lender that no such new or amended certificate of occupancy is required under applicable law or regulation in connection with the Deferred Maintenance, and (3) affidavits, lien waivers or other evidence reasonably satisfactory to Lender showing that all materialmen, laborers, subcontractors and any other parties who might or could claim statutory or common law liens and are furnishing or have furnished materials or labor to the Property have been paid all amounts due for such labor and materials furnished to the Property. (b) The tenant known as Prime Time Storage LLC has noted certain landlord work to be performed at the Property as described in that certain tenant estoppel dated November 10, 2015 (the "Tenant Estoppel"). Purchaser shall refrigerate the dock area as described in item (c) of Section 3 of the Tenant Estoppel as and when required under the lease with said tenant. Upon completion of such item, Purchaser shall deliver to Lender a tenant estoppel, in form and substance reasonably satisfactory to Lender, confirming such work has been performed to tenant's satisfaction.