Maintenance of the Secured Property Sample Clauses
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Maintenance of the Secured Property. Trustor shall cause the Secured ----------------------------------- Property to be maintained in good condition and repair and will not commit or suffer to be committed any waste of the Secured Property. The Improvements and the Equipment shall not be removed, demolished or materially altered (except for normal replacement of the Equipment), without the consent of Beneficiary. Trustor shall promptly comply with all existing and future governmental laws, orders, ordinances, rules and regulations affecting the Secured Property, or any portion thereof or the use thereof. Trustor shall give prompt written notice to Beneficiary of any damage or destruction by fire or other property hazard or casualty and shall deliver to Beneficiary copies of any and all papers sent or received by Trustor in connection with the foregoing. Trustor shall promptly repair, replace or rebuild all or any part of the Secured Property which may be damaged or destroyed by fire or other property hazard or casualty (including any fire or other property hazard or casualty for which insurance was not obtained or obtainable) or which may be affected by any taking by any public or quasi- public authority through eminent domain or otherwise, and shall complete and pay for, within a reasonable time, any structure at any time in the process of construction or repair on the Premises. If such fire or other property hazard or casualty shall be covered by the insurance policies which Trustor is required to obtain pursuant to the provisions of the Loan Agreement ("Policies"), Trustor's obligation to repair, replace or rebuild such portion of the Secured Property shall be contingent upon Beneficiary paying Trustor the proceeds of the Policies, or such portion thereof as shall be sufficient to complete such repair, replacement or rebuilding, whichever is less. Trustor will not, without obtaining the prior consent of Beneficiary, initiate, join in or consent to any private restrictive covenant, zoning ordinance, or other public or private restrictions, limiting or affecting the uses which may be made of the Secured Property or any part thereof.
Maintenance of the Secured Property. ① In the event that there is or there exists a concern of destruction or damage to the Secured Property, the Creator shall take legal steps as may be necessary for the prevention or remedy thereof, and shall notify the creditor of such fact.
Maintenance of the Secured Property. Except as permitted by the Credit Agreement, Mortgagor shall maintain the Secured Property in good repair (normal wear and tear excepted) and shall comply with the requirements of any governmental authority claiming jurisdiction over the Secured Property. Mortgagor shall not, without the prior written consent of Mortgagee, threaten, commit, permit, or suffer to occur any waste, material alteration, demolition, or removal of the Secured Property or any part thereof, except as permitted by the Credit Agreement.
Maintenance of the Secured Property. (a) Borrower shall keep the buildings, parking areas, roads and walkways, recreational facilities, landscaping and all other improvements of any kind now or hereafter erected on the Secured Property or any part thereof in good condition and repair, will not commit or suffer any waste or will not do or suffer to be done anything which would or could increase the risk of fire or other hazard to the Secured Property or any other part thereof or which would or could result in the cancellation of any insurance policy carried with respect to the Secured Property.
(b) Except in accordance with the Plans and Specifications, Borrower shall not remove, demolish or alter the structural character of the Secured Property without the prior written consent of Administrative Agent, which consent shall not be unreasonably withheld, conditioned or delayed. Borrower shall not remove or permit to be removed from the Secured Property any item or items referred to in this Instrument which are or may hereafter be in any way attached or affixed to the Land or to any improvement thereon, except in the ordinary course of maintaining and operating the Secured Property.
(c) If the Secured Property or any part thereof is damaged by fire or other cause, Borrower will give prompt written notice thereof to Administrative Agent.
(d) Subject to the applicable provisions of the Loan Agreement and the rights of Tenants under any Lease, Administrative Agent and any persons authorized by Administrative Agent shall have the right to enter upon and inspect the Secured Property and to make or cause to be made such investigations and analyses thereof as Administrative Agent deems necessary at all reasonable times and upon reasonable prior notice, and access thereto shall be permitted for such purposes.
(e) Borrower will promptly comply with all present and future laws, ordinances, orders, rules and regulations of any governmental authority affecting the Secured Property or any part thereof.
(f) If all or any part of the Secured Property shall be damaged by fire or other casualty, Borrower will, if insurance proceeds are made available for restoration (but regardless of whether any such insurance proceeds are sufficient for the restoration), promptly restore the Secured Property to the equivalent of its original condition or payoff the Secured Indebtedness; and if a part of the Secured Property shall be affected by a condemnation action or taking by eminent domain, Borrower will promptly restore, r...
Maintenance of the Secured Property. (1) maintain and protect its Secured Property, including a programme of care and maintenance to industry best practice;
(2) keep its Secured Property in the state of repair that a prudent owner of the same or similar Secured Property acting in accordance with best industry practice would keep its Secured Property in;
(3) remedy every defect in its title to any part of its Secured Property; Debt finance facility agreement
(4) take or defend all legal proceedings necessary to protect or recover any of its Secured Property; and
(5) keep its Secured Property valid and subsisting and free from liability to forfeiture, cancellation, avoidance or loss;
Maintenance of the Secured Property. The Grantor must:
(a) maintain and protect its Secured Property; (b) keep its Secured Property in a good state of repair and in good working order allowing for fair wear and tear; (c) remedy every defect in its title to any part of its Secured Property; (d) take or defend all legal proceedings to protect or recover any of its Secured Property; (e) keep its Secured Property valid and subsisting and free from liability to forfeiture, cancellation, avoidance or loss; and (f) take all commercially reasonable steps to identify, protect and perfect with the highest priority reasonably available any PPSA Security Interest in respect of which the Grantor is or is to become the PPSA Secured Party.
Maintenance of the Secured Property. Except as permitted by the Loan Agreement, Borrower shall maintain the Secured Property in good repair (normal wear and tear excepted) and shall comply with the requirements of any governmental authority claiming jurisdiction over the Secured Property. Borrower shall not, without the prior written consent of Agent, threaten, commit, permit, or suffer to occur any waste, material alteration, demolition, or removal of the Secured Property or any part thereof, except as permitted by the Loan Agreement.
Maintenance of the Secured Property. (a) Trustor shall (i) keep the Secured Property in good and safe condition and repair, free from waste, including, making all repairs and replacements, structural or nonstructural, foreseen or unforeseen, ordinary or extraordinary, as the same become necessary or appropriate, to keep the Secured Property in good and safe condition and repair, (ii) pay all operating costs of the Secured Property, (iii) complete, within a reasonable time, and pay for any building or buildings or other Improvements now or at any time in the process of erection upon the Property, (iv) comply with any restrictions and covenants of record with respect to the Property and the use thereof, and (v) perform all agreements, undertakings and functions necessary to operate and maintain the Secured Property as currently operated.
(b) Without the prior written consent of Beneficiary, Trustor shall not cause, suffer or permit any (i) (x) Material Alterations of the Property or the Improvements except (A) as required by any applicable law, or (B) as permitted or required to be made by the terms of any Leases approved by Beneficiary (with respect to work in any space demised thereunder), or (y) demolition or removal of any portion of the Improvements or Equipment except for the removal of any such portion which is simultaneously replaced with equivalent materials or which are worn out, obsolete or no longer used or useful in connection with the operation of the Property (“Obsolete Collateral”) and the removal of which shall not adversely affect the use or operation of the Improvements. Without the prior written consent of Beneficiary, Trustor shall not cause, suffer or permit any (i) change in the intended use or occupancy of the Property for which the Improvements have been constructed which would adversely affect the use or operation of the Improvements; (ii) zoning reclassification with respect to the Property which would materially and adversely affect the valuation of the Secured Property; or (iii) unlawful use of, or nuisance to exist upon, the Property. Without limiting the generality of the foregoing, Trustor will not, by act or omission (y) impair the integrity of the Property as separate and apart from all other premises, or (z) permit or suffer to permit the Property to be used by the public or any person or entity in such manner as might make possible a claim of adverse usage or possession or any implied dedication or easement. As used herein, the term “Material Alteration” shal...