Enforcement of Contracts. Borrower shall strictly enforce all material provisions of the Construction Contract, the Architect/Engineer Agreement and all other contract(s) for the construction of the Improvements to ensure that the other parties thereto are required to promptly and diligently perform all of its obligations thereunder and in such a manner as to preserve FINOVA's security in the Collateral and the Facilities. Borrower shall timely perform all its obligations under the aforementioned agreements and contracts. No material change, amendment or modification shall be made to such contract(s) without the prior written consent of FINOVA.
Appears in 2 contracts
Sources: Master Loan and Security Agreement (Arv Assisted Living Inc), Loan and Security Agreement (Arv Assisted Living Inc)