O&M Program Clause Samples
The O&M Program clause defines the requirements and procedures for the ongoing operation and maintenance of a facility, system, or equipment. It typically outlines the standards, schedules, and responsibilities for performing regular inspections, repairs, and preventive maintenance to ensure optimal performance and compliance with regulatory obligations. By establishing clear expectations for upkeep and management, this clause helps prevent equipment failures, extends asset lifespan, and ensures the facility operates safely and efficiently.
O&M Program. Borrower covenants and agrees to implement and follow the terms and conditions of each O&M Program for the Properties during the term of the Loan, including any extension or renewal thereof. Lender’s requirement that Borrower comply with each O&M Program shall not be deemed to constitute a waiver or modification of any of Borrower’s covenants and agreements with respect to Hazardous Materials (as defined in the Environmental Indemnity) or Environmental Laws.
O&M Program. With respect to each Individual Property listed on Schedule 5.1.27 hereof, Pledgor covenants and agrees to cause Mortgage Borrower to implement within sixty (60) days of the Closing Date and thereafter follow the terms and conditions of the O&M Program for each applicable Property during the term of the Loan, including any extension or renewal thereof. Lender’s requirement that Pledgor cause Mortgage Borrower to comply with the O&M Program shall not be deemed to constitute a waiver or modification of any of Pledgor’s covenants and agreements with respect to Hazardous Materials or Environmental Laws.
O&M Program. The Borrower has adopted an O&M Program with respect to all Hazardous Materials, if any, identified in the Environmental Assessment furnished to the Lender prior to the Closing Date or as otherwise required by the Lender.
O&M Program. Borrower covenants and agrees to cause Senior Mezzanine Borrower to cause Mortgage Borrower to implement and follow the terms and conditions of each O&M Program for the Properties during the term of the Loan, including any extension or renewal thereof. Lender’s requirement that Borrower cause Senior Mezzanine Borrower to cause Mortgage Borrower to comply with each O&M Program shall not be deemed to constitute a waiver or modification of any of Borrower’s or Mortgage Borrower’s covenants and agreements with respect to Hazardous Materials (as defined in the Environmental Indemnity) or Environmental Laws.
O&M Program. Borrower covenants and agrees to cause Mortgage Borrower to implement and follow the terms and conditions of each O&M Program for the Properties during the term of the Loan, including any extension or renewal thereof. Lender’s requirement that Borrower cause Mortgage Borrower to comply with each O&M Program shall not be deemed to constitute a waiver or modification of any of Borrower’s or Mortgage Borrower’s covenants and agreements with respect to Hazardous Materials (as defined in the Environmental Indemnity) or Environmental Laws.
O&M Program. With respect to the Property listed on Schedule VII hereof, Borrower shall cause each the Property to be tested for the presence of asbestos-containing materials (“ACMs”) by an assessment firm acceptable to Lender in all respects and if such assessment firm recommends remediation of any ACM present at the Property, Borrower shall enter into a contract with a licensed industrial hygienist to develop a fully documented O&M Program which Borrower shall submit within ninety (90) days of the date hereof to Lender for its approval. Borrower further covenants and agrees to implement and follow the terms and conditions of such O&M Program during the term of the Loan, including any extension or renewal thereof. Lender’s requirement that Borrower develop and comply with the O&M Program shall not be deemed to constitute a waiver or modification of any of Borrower’s covenants and agreements with respect to Hazardous Materials or Environmental Laws.
O&M Program. Borrower hereby represents and warrants that it has, as of the date hereof, complied in all material respects with the O&M Program attached as Schedule XVI to the Loan Agreement. Borrower hereby covenants and agrees that, during the Term, including any extension or renewal thereof, Borrower shall comply in all material respects with the terms and conditions of the O&M Program.
O&M Program. Borrower hereby represents and warrants that attached hereto as Schedule XVI is a true and complete copy of each of the Operations and Maintenance Plans in respect of the Properties described therein (collectively, the “O&M Program”), and Borrower has, as of the date hereof, complied in all material respects with the O&M Program. Borrower hereby covenants and agrees that, during the Term, including any extension or renewal thereof, Borrower shall comply in all material respects with the terms and conditions of the O&M Program.
O&M Program. With respect to each Individual Property listed on Schedule XIV hereof, Borrower shall enter into a contract with a licensed industrial hygienist to develop a fully documented O&M Program which Borrower shall submit within ninety (90) days of the date hereof to Lender for its approval. Borrower further covenants and agrees to implement and follow the terms and conditions of such O&M Program during the term of the Loan, including any extension or renewal thereof. Lender's requirement that Borrower develop and comply with the O&M Program shall not be deemed to constitute a waiver or modification of any of Borrower's covenants and agreements with respect to Hazardous Materials or Environmental Laws.
O&M Program. Borrower hereby represents and warrants that (a) attached hereto as Schedule 5.1.19 is a list of all operation and maintenance plans with respect to the Properties, true and complete copies of which have previously been provided to Lender (collectively, the “O&M Program”), and (b) Borrower has as of the date hereof complied in all material respects with the O&M Program to the extent related to the Properties. Borrower hereby covenants and agrees that, during the term of the Loan, including any extension or renewal thereof, Borrower shall comply in all material respects with the terms and conditions of the O&M Program to the extent related to the Properties.