Operation and Maintenance of the System. The Governmental Agency covenants and agrees that it shall, in accordance with prudent stormwater utility practice, (i) at all times operate the properties of the System and any business in connection therewith in an efficient manner, (ii) maintain the System in good repair, working order and operating condition, (iii) from time to time make all necessary and proper repairs, renewals, replacements, additions, betterments and improvements with respect to the System so that at all times the business carried on in connection therewith shall be properly and advantageously conducted; provided, however, this covenant shall not be construed as requiring the Governmental Agency to expend any funds which are derived from sources other than the Gross Revenues, and provided further that nothing herein shall be construed as preventing the Governmental Agency from doing so.
Appears in 1 contract
Sources: Loan Agreement
Operation and Maintenance of the System. The Governmental Agency covenants and agrees that it shall, in accordance with prudent stormwater storm drainage utility practice, (i) at all times operate the properties of the System and any business in connection therewith in an efficient manner, (ii) maintain the System in good repair, working order and operating condition, (iii) from time to time make all necessary and proper repairs, renewals, replacements, additions, betterments and improvements with respect to the System so that at all times the business carried on in connection therewith shall be properly and advantageously conducted; provided, however, this covenant shall not be construed as requiring the Governmental Agency to expend any funds which are derived from sources other than the Gross RevenuesRevenue, and provided further that nothing herein shall be construed as preventing the Governmental Agency from doing so.
Appears in 1 contract
Sources: Loan Agreement