Common use of Maintenance/Operation Clause in Contracts

Maintenance/Operation. Seller shall use commercially reasonable efforts to maintain and operate the Property in substantially the same manner as prior hereto pursuant to its normal course of business (such maintenance obligations not including capital expenditures or expenditures not incurred in such normal course of business), subject to reasonable wear and tear and further subject to destruction by casualty, condemnation or other events beyond the reasonable control of Seller. Without limitation of the foregoing, Seller shall use commercially reasonable efforts to maintain its current insurance. Notwithstanding the foregoing, Seller may (but shall not be obligated to), as part of its normal course of business, pursue tenant improvements under the Leases.

Appears in 1 contract

Sources: Purchase Agreement (BLACK CREEK INDUSTRIAL REIT IV Inc.)

Maintenance/Operation. Seller Sellers shall use commercially reasonable efforts to maintain and operate the Property Properties in substantially the same manner as prior hereto pursuant to its normal course of business (such maintenance obligations not including capital expenditures or expenditures not incurred in such normal course of business), subject to reasonable wear and tear and further subject to destruction by casualty, condemnation or other events beyond the reasonable control of SellerSellers. Without limitation of the foregoing, Seller Sellers shall use commercially reasonable efforts to maintain its current insurance. Notwithstanding the foregoing, Seller Sellers may (but shall not be obligated to), as part of its normal course of business, pursue tenant improvements improvements, if any, under the Leases.

Appears in 1 contract

Sources: Purchase Agreement (BLACK CREEK INDUSTRIAL REIT IV Inc.)