Operation and Maintenance Plans. If an Operation and Maintenance Plan has been established with respect to any Facility, the applicable Borrower shall comply in a timely manner with, and cause all employees, agents, and contractors of such Borrower and any other persons encompassed by the Operation and Maintenance Plan and present on the Facility, including, without limitation, any employee, agent or contractor of the applicable Operating Company, to comply with the Operation and Maintenance Plan. All costs of performance of such Borrower’s obligations under any Operation and Maintenance Plan shall be paid by Borrower, and Agent’s out-of-pocket costs incurred in connection with the monitoring and review of the Operation and Maintenance Plan and such Borrower’s performance shall be paid by such Borrower upon demand by Agent. Any such out-of-pocket costs of Agent which such Borrower fails to pay promptly shall become an additional part of the Liabilities.
Appears in 2 contracts
Sources: Term Loan and Security Agreement (Summit Healthcare REIT, Inc), Subordinated Term Loan and Security Agreement (Summit Healthcare REIT, Inc)