Common use of Operation of Assets Clause in Contracts

Operation of Assets. Seller shall: (i) cause the Subject Assets to be maintained and operated in the ordinary course of business in accordance with Seller’s past practices (including the repair or replacement of damaged, destroyed, obsolete, depreciated, non-working or non-economical items of equipment or other personal property and the investigation, monitoring and remediation of the Subject Assets as required by Environmental Laws), maintain insurance now in force with respect to the Subject Assets, and pay or cause to be paid all costs and expenses in connection therewith promptly when due in the ordinary course of business in accordance with Seller’s past practices; (ii) duly and timely file or cause to be filed all reports and returns required to be filed with a Governmental Authority and timely pay all amounts due in connection therewith, unless such amounts are being contested by Seller in good faith; and (iii) cause the value of the spare parts and inventory that are part of the Subject Assets to be maintained at levels consistent with past practices, if applicable.