Maintenance and Operation of the Project Clause Samples

Maintenance and Operation of the Project. As long as any portion of the Loan is still outstanding, Borrower shall maintain and operate the Project and use the Loan Proceeds in compliance with the terms of MIF, this Loan Agreement, and all applicable federal, state and local laws, regulations and ordinances, including but not limited to all environmental laws and regulations.
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Maintenance and Operation of the Project. (a) Subject to applicable legal requirements and restrictions, and to the extent permitted by law, operate or cause the operation of the Project in the manner described in the Offering Memorandum. (b) To the extent material to the transactions contemplated herein or in the other Bond Documents, operate and maintain or cause the operation and maintenance of the Project in accordance with all applicable governmental laws, ordinances, approvals, rules, regulations and requirements, including, without limitation, all zoning, sanitary, pollution and safety ordinances and laws and such rules and regulations thereunder as may be binding upon Obligor. Obligor further covenants and agrees that it will (i) maintain and operate, or cause to be maintained and operated, all engines, boilers, pumps, machinery, apparatus, fixtures, fittings and equipment of any kind located or placed in any building or structure now or at any time hereafter constituting part of the Project, in good repair, working order and condition, except such property or equipment as Obligor no longer utilizes, and (ii) from time to time make or cause to be made all necessary and proper replacements, repairs, renewals and improvements to the Project so that the efficiency and value of the Project shall not be impaired.
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Maintenance and Operation of the Project. The Borrower ---------------------------------------- shall, at its expense, keep the Project in good repair and operating condition and free and clear of all encumbrances except Permitted Encumbrances, as defined in the Letter of Credit Agreement, making from time to time all necessary repairs, renewals and replacements. The Borrower may, at its expense, make any additions, modifications or improvements to the Project that it may deem desirable for its efficient operation as a office/warehouse facility and that do not impair the revenue producing capacity of the Project, provided that the Borrower provides the Letter of Credit Issuer with prior written notice of any such additions, modifications or improvements and such additions, modifications or improvements are located wholly on the Land and comply with all Federal, state and local codes as applied to the Project, and further provided that no liens or other encumbrances are filed on the Land as a result of such additions, modifications or improvements. All such renewals, replacements, additions, modifications and improvements shall become part of the Project. The Borrower shall (a) use, maintain and operate, or cause to be used, maintained and operated, the Project as a office/warehouse facility; (b) comply with all laws, rules and regulations of any governmental body applicable to the condition and operation of the Project, whether existing or later enacted or foreseen or unforeseen and whether involving any change in governmental policy or requiring structural or other changes to the Project; (c) neither commit nor suffer others to commit a nuisance in or about the Project; and (d) provide at its own cost and expense, or cause to be provided, to the extent not included within the Project, the other personal property required for the proper use, maintenance and operation of the Project in an economical and efficient manner.
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Maintenance and Operation of the Project. (a) Subject to applicable requirements and restrictions imposed, and to the extent permitted, by law, operate or cause to operate the Project in the manner described in the Private Placement Memorandum. (b) To the extent material to the transactions contemplated herein or in the Bond Documents, operate and maintain or cause to operate and maintain the Project in accordance with all applicable governmental laws, ordinances, approvals, rules, regulations and requirement including, without limitation, such zoning, sanitary, pollution and safety ordinances and laws and such rules and regulations thereunder as may be binding upon
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Maintenance and Operation of the Project. Prior to the conveyance of the Project to the County pursuant to Section 2.09, the Authority will operate, maintain, preserve and keep the Project or cause the Project to be maintained, in accordance with the Grand Parkway Agreements.
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Maintenance and Operation of the Project. (a) Subject to applicable requirements and restrictions imposed, and to the extent permitted, by law, operate or cause to operate the Project in the manner described in the Official Statement. (b) To the extent material to the transactions contemplated herein or in the Bond Documents, operate and maintain or cause to operate and maintain the Project in accordance with all applicable governmental laws, ordinances, approvals, rules, regulations and requirements including, without limitation, such zoning, sanitary, pollution and safety ordinances and laws and such rules and regulations thereunder as may be binding upon Company. Company further covenants and agrees that it will cause to be maintained and operated all engines, boilers, pumps, machinery, apparatus, fixtures, fittings and equipment of any kind in, or that shall be placed in any building or structure now or hereafter at any time constituting part of the Project in good repair, working order and condition, except such property or equipment as is no longer being utilized by Company, and that it will from time to time make or cause to be made all necessary and proper replacements, repairs, renewals and improvements so that the efficiency and value of the Project shall not be impaired.
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Maintenance and Operation of the Project. (a) The Borrower will at all times preserve and protect the Project in good repair, working order and safe condition, and from time to time will make, or will cause to be made, all necessary repairs, renewals, replacements, betterments and improvements thereto including those required after a casualty loss. The Borrower shall pay all operating costs, utility charges and other costs and expenses arising out of ownership, possession, use or operation of the Project. The Authority shall have no obligation and makes no warranties respecting the condition or operation of the Project. (b) The Borrower agrees to make timely payment for any improvements to the Project lawfully done or lawfully ordered to be done by any municipal, State or federal authority and to comply in all material respects at its own cost and expense with all lawful and enforceable notices received (whether by the Authority or the Borrower) from public authorities from and after the date hereof that affect the Project and the use and operation thereof, other than those improvements, orders and notices, the amount, validity or application of which is at the time being contested, in whole or in part, in good faith by appropriate proceedings promptly initiated and diligently conducted. (c) The Borrower covenants and agrees that the Project shall be used only for the purpose of industrial or commercial activities or activities accessory thereto, and only as an authorized project under the Act, until expiration or earlier termination of this Agreement. (d) The Borrower covenants and agrees that it shall not relocate the Project or any part thereof out of the State. (e) The Borrower will not use as a basis for contesting any assessment or levy of any tax the financing under this Agreement or the issuance of the Bonds by the Authority and, if any administrative body or court of competent jurisdiction shall hold for any reason that the Project is exempt from the transaction by reason of the financing under this Agreement or issuance of the Bonds by the Authority or other Authority action in respect thereto, the Borrower covenants to make payments in lieu of all such taxes in an amount equal to such taxes and, if applicable, interest and penalties. (f) The Borrower agrees that it shall not discriminate or permit any discrimination in the use of the Project against any person on the grounds of race, color, religion, age, gender or national origin in any manner prohibited by the laws of the United State...
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Maintenance and Operation of the Project. 9 Section 5.2 Inspection of Project and Borrower's Books and Records 9
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Related to Maintenance and Operation of the Project

  • Maintenance and Operation Member-Generator agrees to maintain their system and facilities in accordance with applicable manufacturer's recommended maintenance schedule and standard prudent engineering practices. Member-Generator covenants and agrees to operate their system, facilities and equipment so as to minimize the likelihood for a malfunction or other disturbance, damaging or otherwise affecting or impairing Cooperative’s electrical system. Member-Generator shall comply with all applicable laws, regulations, zoning, building codes, safety rules and other environmental regulations or restrictions applicable to the design, installation, operation and maintenance of the Member-Generator's System.

  • Construction of the Project The Allottee has seen the proposed layout plan, specifications, amenities and facilities of the Apartment/ Plot and accepted the floor plan, payment plan and the specification, amenities and facilities annexed along with this Agreement which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop the Project in accordance with the said layout plans, floor plans and specifications, amenities and facilities. Subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent authorities and shall also strictly abide by the bye-laws, FAR, and density norms and provisions prescribed by the relevant building bye-laws and shall not have an option to make any variation/ alteration/ modification in such plans, other than in the manner provided under the Act, and breach of this term by the Promoter shall constitute a material breach of this Agreement.

  • Construction of the Project Highway (i) The Contractor shall construct the Project Highway as specified in Schedule- B and Schedule-C, and in conformity with the Specifications and Standards set forth in Schedule-D. The Contractor shall be responsible for the correct positioning of all parts of the Works, and shall rectify any error in the positions, levels, dimensions or alignment of the Works. The [650th (six hundred and fiftieth) day] from the Appointed Date shall be the scheduled completion date (the “Scheduled Completion Date”) and the Contractor agrees and undertakes that the construction shall be completed on or before the Scheduled Completion Date, including any extension thereof. (ii) The Contractor shall construct the Project Highway in accordance with the Project Completion Schedule set forth in Schedule-J. In the event that the Contractor fails to achieve any Project Milestone or the Scheduled Completion Date within a period of 30 (thirty) days from the date set forth in Schedule-J, unless such failure has occurred due to Force Majeure or for reasons solely attributable to the Authority, it shall pay Damages to the Authority of a sum calculated at the rate of 0.05% (zero point zero five percent) of the Contract Price for delay of each day reckoned from the date specified in Schedule –J and until such Project Milestone is achieved or the Project Highway is completed; provided that if the period for any or all Project Milestones or the Scheduled Completion Date is extended in accordance with the provisions of this Agreement, the dates set forth in Schedule-J shall be deemed to be modified accordingly and the provisions of this Agreement shall apply as if Schedule-J has been amended as above; provided further that in the event the Project Highway is completed within or before the Scheduled Completion Date including any Time Extension, applicable for that work or section, the Damages paid under this Clause 10.3 (ii) shall be refunded by the Authority to the Contractor, but without any interest thereon. The Parties agree that for determining achievement or delays in completion of the Project Milestones or the Project on the due date, the works affected due to delay in providing the site for which time extension has been granted beyond the Scheduled Completion Date will be excluded. For example on the due date to achieve the Project Milestone-I (i.e., Stage Payments of 10% (ten percent) of Contract Price on 180th (one hundred and eighty) day from the Appointed Date), if 5% (five percent) of the project length corresponding to the Project Milestone-I is not handed over or lately handed over resulting in the extension of completion of this 5% (five percent) length beyond Scheduled Completion Date, Stage Payment of 10% X 0.95 = 9.5% only is to be achieved by 180th (one hundred and eighty) day. For the avoidance of doubt, it is agreed that recovery of Damages under this Clause 10.3 (ii) shall be without prejudice to the rights of the Authority under this Agreement including the right of Termination thereof. The Parties further agree that Time Extension hereunder shall only be reckoned for and in respect of the affected Works as specified in Clause 10.5 (ii). (iii) The Authority shall notify the Contractor of its decision to impose Damages in pursuance with the provisions of this Clause 10.3. Provided that no deduction on account of Damages shall be effected by the Authority without notifying the Contractor of its decision to impose the Damages, and taking into consideration the representation, if any, made by the Contractor within 20 (twenty) days of such notice. The Parties expressly agree that the total amount of Damages under Clause 10.3 (ii) shall not exceed 10% (ten percent) of the Contract Price. If the damages exceed 10% (ten percent) of the Contract Price, the Contractor shall be deemed to be in default of this agreement having no cure and the Authority shall be entitled to terminate this Agreement by issuing a Termination Notice in accordance with the provisions of Clause 23.1 (ii). (iv) In the event that the Contractor fails to achieve the Project Completion within a period of 90 (ninety) days from the Schedule Completion Date set forth in Schedule-J, unless such failure has occurred due to Force Majeure or for reasons solely attributable to the Authority, the contractor shall be deemed to be ineligible for bidding any future projects of the Authority, both as the sole party or as one of the parties of Joint Venture/ Consortium during the period from Scheduled Completion Date to issuance of Completion Certificate. This restriction is applicable if the contract value of the delayed project is not less than Rs. 300 Crore.

  • Preservation, Maintenance, and Protection of the Property Inspections. Borrower will not destroy, damage, or impair the Property, allow the Property to deteriorate, or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower must maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless Lender determines pursuant to Section 5 that repair or restoration is not economically feasible, Borrower will promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid to Lender in connection with damage to, or the taking of, the Property, Borrower will be responsible for repairing or restoring the Property only if ▇▇▇▇▇▇ has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed, depending on the size of the repair or restoration, the terms of the repair agreement, and whether Borrower is in Default on the Loan. Lender may make such disbursements directly to Borrower, to the person repairing or restoring the Property, or payable jointly to both. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower remains obligated to complete such repair or restoration. Lender may make reasonable entries upon and inspections of the Property. If Lender has reasonable cause, ▇▇▇▇▇▇ may inspect the interior of the improvements on the Property. Lender will give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause.

  • Completion of the Project The Participating County acknowledges it is obligated to undertake and complete the design and construction of the Project in compliance with all of the applicable terms and conditions of the Project Documents and the Participating County agrees to use its best efforts to cause the completion of design and construction of the Project in compliance with the applicable terms and conditions of such documents. The Participating County agrees to complete the Project in accordance with this Agreement and consistent with the scope, cost and schedule established by the Board and attached hereto in Exhibit A, as such scope, cost and schedule may be modified with the approval of Finance and the recognition of the Board.