Common use of Existence; Maintenance of Properties Clause in Contracts

Existence; Maintenance of Properties. (a) The Borrowers will preserve and keep in full force and effect their legal existence in the jurisdiction of its incorporation or formation. The Borrowers will preserve and keep in full force all of their rights and franchises, the preservation of which is necessary to the conduct of their business. Borrowers shall cause REIT to at all times comply with all requirements and applicable laws and regulations necessary to maintain REIT Status and shall continue to receive REIT Status. Borrowers shall cause the common stock of REIT to at all times be listed for trading and be traded on the New York Stock Exchange or another national exchange approved by Agent, unless otherwise consented to by the Required Lenders. Parent Borrower shall continue to own directly or indirectly one hundred percent (100%) of the Subsidiary Borrowers, subject to the terms and provisions hereof. (b) Each Borrower (i) will cause all of its properties used or useful in the conduct of its business or the business of its Subsidiaries to be maintained and kept in good condition, repair and working order (ordinary wear and tear excepted) and supplied with all necessary equipment, and (ii) will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof in all cases in which the failure to do so would cause a Material Adverse Effect, and (iii) will diligently perform and observe in all material respects all of the terms, covenants, and conditions of any ground lease or lease related to a Leased Asset which is an Eligible Real Estate Asset.

Existence; Maintenance of Properties. (a) The Borrowers Loan Parties will preserve and keep in full force and effect their legal existence in the jurisdiction of its incorporation or formation. The Borrowers Loan Parties will preserve and keep in full force all of their rights and franchises, the preservation of which is necessary to the conduct of their business. Borrowers Loan Parties shall cause REIT to at all times comply with all requirements and applicable laws and regulations necessary to maintain REIT Status and shall continue to receive REIT Status. Borrowers Loan Parties shall cause the common stock of REIT to at all times be listed for trading and be traded on the New York Stock Exchange or another national exchange approved by Agent, unless otherwise consented to by the Required Lenders. Parent Borrower shall continue to own directly or indirectly one hundred percent (100%) of the Subsidiary BorrowersPool Owners, subject to the terms and provisions hereof. (b) Each Borrower Transaction Party (i) will cause all of its properties used or useful in the conduct of its business or the business of its Subsidiaries to be maintained and kept in good condition, repair and working order (ordinary wear and tear excepted) and supplied with all necessary equipment, and (ii) will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof in all cases in which the failure to do so would cause a Material Adverse Effect, and (iii) will diligently perform and observe in all material respects all of the terms, covenants, and conditions of any ground lease or lease related to a Leased Asset which is an Eligible Real Estate Asset.

Existence; Maintenance of Properties. (a) The Borrowers will preserve and keep in full force and effect their legal existence in the jurisdiction of its incorporation or formation. The Borrowers will preserve and keep in full force all of their rights and franchises, the preservation of which is necessary to the conduct of their business. Borrowers shall cause REIT to at all times comply with all requirements and applicable laws and regulations necessary to maintain REIT Status and shall continue to receive REIT Status. Borrowers shall cause the common stock of REIT to at all times be listed for trading and be traded on the New York Stock Exchange or another national exchange approved by Agent, unless otherwise consented to by the Required Lenders. Parent Borrower shall continue to own directly or indirectly one hundred percent (100%) of the Subsidiary Borrowers, subject to the terms and provisions hereof. (b) Each Borrower (i) will cause all of its properties used or useful in the conduct of its business or the business of its Subsidiaries to be maintained and kept in good condition, repair and working order (ordinary wear and tear excepted) and supplied with all necessary equipment, and (ii) will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof in all cases in which the failure to do so would cause a Material Adverse EffectEffect (except for a casualty when proceeds are not made available by the Agent). Without limitation of the obligations of the Borrowers under this Agreement with respect to the maintenance of the Mortgaged Properties, the Borrowers shall promptly and (iii) will diligently perform comply with the recommendations of the Environmental Engineer concerning the maintenance, operation or upkeep of the Mortgaged Properties contained in the building inspection and observe environmental reports delivered to the Agent or otherwise obtained by Borrowers with respect to the Mortgaged Property in all material respects all of cases in which the terms, covenants, and conditions of any ground lease or lease related failure to do so would cause a Leased Asset which is an Eligible Real Estate AssetMaterial Adverse Effect.

Existence; Maintenance of Properties. (a) The Borrowers will preserve and keep in full force and effect their legal existence in the jurisdiction of its incorporation or formation. The Borrowers will preserve and keep in full force all of their rights and franchises, the preservation of which is necessary to the conduct of their business. Borrowers shall cause REIT to at all times comply with all requirements and applicable laws and regulations necessary to maintain REIT Status and shall continue to receive REIT Status. Borrowers shall cause the common stock of REIT to at all times be listed for trading and be traded on the New York Stock Exchange or another national exchange approved by the Agent, unless otherwise consented to by the Required Lenders. Parent Borrower shall continue to own directly or indirectly one hundred percent (100%) of the Subsidiary Borrowers, subject to the terms and provisions hereof. (b) Each Borrower (i) will cause all of its properties used or useful in the conduct of its business or the business of its Subsidiaries to be maintained and kept in good condition, repair and working order (ordinary wear and tear excepted) and supplied with all necessary equipment, and (ii) will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof in all cases in which the failure to do so would cause a Material Adverse Effect, and (iii) will diligently perform and observe in all material respects all of the terms, covenants, and conditions of any ground lease or lease related to a Leased Asset which is an Eligible Real Estate Asset.