Operation of the Premises Clause Samples

Operation of the Premises. Recognizing and subject to the obligations of NBCU under the Existing NBC Lease, from and after the Effective Date and continuing through the Closing Date, the Premises shall be operated and maintained substantially in the manner in which it presently is being operated and maintained.

Operation of the Premises. (a) During the period between the Effective Date and the earlier to occur of the Closing Date, or the termination of this Agreement, Seller shall operate the Property and conduct its business thereon in the same manner as the Property has been operated by Seller immediately prior to the acceptance and delivery of this Agreement (including, without limitation, keeping the Property insured at the current level of insurance maintained thereon and continuing all marketing/advertising/leasing efforts). After the Effective Date the Seller shall, in the ordinary course of business, put, maintain and keep the Premises, in the same working order and condition as exists on the expiration of the Inspection Period (including, without limitation, keeping the Property insured at the current level of insurance maintained thereon), so that the same shall be in such condition on the Closing Date, reasonable wear and tear excepted. Additionally, Seller shall promptly (1) notify Purchaser in writing of any litigation, arbitration, condemnation or administrative hearing before any court or governmental agency concerning Seller or the Property that is instituted after the Effective Date, other than eviction or unlawful detainer actions that will be completed prior to Closing, (2) provide to Purchaser copies of any Contracts or amendments/modifications thereto entered into after the Effective Date (subject to the terms of this Section 5), and any documents or materials received by Seller from and after the Effective Date that would have been included in Evaluation Materials if received prior to such date, (3) within two (2) business days after Seller’s receipt of request therefor, provide to Purchaser an updated Rent Roll, (4) provide to Purchaser copies of all written notices given or received by Seller after the Effective Date asserting (i) any breach or default under the Contracts, (ii) any violation of any matters of record affecting the Property (“Recorded Exceptions”), (iii) any material breach or material default by Seller under the Leases which will not be cured prior to the Closing Date, (iv) any violation by Seller of any 10722467 covenants, conditions, restrictions, laws, statutes, rules, regulations or ordinances applicable to the Property, and (v) any documents evidencing any actions, proceedings, litigation or governmental investigations against Seller or the Premises or any portion thereof, together with a summary of all such matters, and (5) provide to Purchaser...

Operation of the Premises. ‌ 7.1 Management and Lease Start-up 1. Initial meeting with Lessor. At least two weeks prior to the Commencement Date, Lessor will arrange a meeting with ▇▇▇▇▇▇ to provide an opportunity for ▇▇▇▇▇▇ to obtain general information regarding the Premises. Lessor will provide Lessee with certain information regarding the Premises, including but not limited to residential tenant contact information, sublease agreements for assignment, security deposits transfer, current Repair and Maintenance Plan, status of pending or planned repair and maintenance tasks, parking permit information, and subtenant management issues. Following Prior ▇▇▇▇▇▇’s transition notification letter to subtenants, ▇▇▇▇▇▇ will draft an introduction letter to the Sublessees further informing them of the change in lease management and providing contact information and a sublease application form for each occupant on the sublease agreement. Lessor to approve content of letter and ▇▇▇▇▇▇ to deliver letter to each subtenant at least one week prior to the Commencement Date.

Operation of the Premises. SECTION 1. Lessor and its agents and employs agree to manage and operate the Premises in a manner consistent with proper professional management and operation of similar facilities including, without limitation, providing for the operation, cleaning, maintenance, landscaping, repair, replacement and upkeep of the Premises necessary to keep the Premises in reasonably good working order, repair, appearance and condition and providing heating, ventilating and air conditioning and building and grounds maintenance and repair. Responsibility for the operation and upkeep of the Demised Premises is further outlined in Article VIII Section 1 hereto.

Operation of the Premises. The Premises together with any equipment and Improvements thereon shall be used by the OPERATOR solely as a public parking facility for motor vehicles and any other purpose or purposes incidental thereto as determined by the COUNTY, including but not limited to, proper placement of personal property or trade fixtures necessary for such purposes on the Premises. In addition to the Premises, the OPERATOR shall have the right of ingress into and egress from the Premises by motor vehicles from the Airport access road during the term of and under the covenants and conditions contained in this Agreement. The OPERATOR shall institute revenue control procedures for the public parking facilities including where necessary (i) procedures to control ingress and egress to the Premises, (ii) procedures for collection of proper fees in accordance with the approved parking rate schedule in effect, (iii) staffing trained and disciplined to perform their duties in an efficient and courteous manner as identified in the Operator’s RFP Proposal attached hereto as Exhibit C, (iv) and approved use of technology to process parking customers in lieu of staffed on-site personnel. Provided that the OPERATOR abides by all the terms and conditions hereof, the COUNTY shall not during the term of this Agreement permit the operation of a public parking facility at the Airport by any other party other the OPERATOR.

Operation of the Premises. (a) Tenant agrees to operate the Premises in a safe, orderly and clean manner. Tenant shall not conduct operations on or about the Premises in a manner that hinders police, fire fighting or other emergency personnel in the discharge of their duties; or would reasonably be expected to constitute a hazardous condition at the Premises. Tenant shall insert appropriate provisions in the Subleases to require compliance of the Subtenants with the requirements of this Section 9.2, and shall use reasonable efforts to enforce such requirements. (b) Tenant shall use commercially reasonable efforts to enforce the terms and conditions of the Subleases in a commercially reasonable manner with regard to collection of all rent and other amounts due from Subtenants and performance of all obligations of the Subtenants under their respective Subleases. (c) Tenant may delegate the marketing and leasing of the Building and the management of the Building to a professional management company which (i) is routinely engaged in the operation, marketing, leasing and management of similar properties, and (ii) has had substantial experience, for at least five (5) years prior to the date of the initial delegation by Tenant, in the marketing, leasing and management of commercial properties similar to the Property (a "Permitted Property Manager"). The engagement of a Permitted Property Manager shall not require the approval of the City. The City further acknowledges that to the extent that Tenant causes the Permitted Property Manager to perform any of Tenant's obligations or covenants under this Lease, such obligations or covenants shall be deemed to have been performed by Tenant. A Permitted Property Manager may be engaged by Tenant only under a written form of management or delegation agreement, including any amendments thereto, subject to reasonable review by the City (the "Property Management Agreement"), such review to be limited in order to confirm that the Permitted Property Manager and the terms of such Property Management Agreement comply with the requirements of this Lease and such Property Management Agreement specifically recognizes the acceptance by the Permitted Property Manager of the provisions of this Lease [Discuss timeline for City review and approval]. The Property Management Agreement shall (i) be expressly subject and subordinate to the rights of the City hereunder; (ii) be subject to termination by the City in the event of the termination of this Lease; (iii) be on...

Operation of the Premises. The parties hereto agree as follows:

Operation of the Premises. The Parties agree that anticipated uses of the Premises under this Agreement will, in part, directly provide for the community’s benefit through the following uses: i. Subleases, if any, at rates which afford and contribute to the care and upkeep of the Premises including the Tenant’s maintenance obligation herein, with the intent that the subleases will be to local nonprofit or other community building organizations or other individuals whose work provides local community benefit; ii. As reasonably requested by the City, use of meeting spaces at the Premises by the City which said use will be charged at-cost (actual documented reasonable expenses charged, expensed to or incurred by the Tenant in connection with those uses) and which costs may offset the amount of supplemental sublease revenue due to the City under Section 1D. above annually each year during the Term; iii. Once per yearly Term of this Agreement (including any extension thereof) and upon reasonable notice by the City to the Tenant, the City and its historic preservation consultant shall be permitted to conduct an inspection of the specific interior features which are the subject of and specified by the Declaration of Use (Attachment E) to ensure the maintenance of said features. Such inspections will be conducted at the City’s sole expense and at a time mutually agreed upon by the Parties; and iv. Up to four days per year (at least four hours each day) for a community open house including guided tours of the ▇▇▇▇▇▇▇ House is to be conducted by the Tenant at its own expense and provision of at-cost use of the Premises meeting and event space for local non-profits, civic groups and individuals as solely determined by the Tenant which are infrequent and non-recurring but which nevertheless allow said organizations to contain expenses associated with civic purposes. The Parties further agree that general city and community uses under this Section will largely be accommodated on the home’s first or second floor to afford ease of visitor access subject to the Tenant’s permission which shall not be unreasonably withheld.

Operation of the Premises. When Fifth Pocket uses the Premises for storage, Fifth Pocket will be responsible for operation of the Premises. In addition to the requirements set forth at Paragraph 5, Fifth Pocket will ensure that its employees and representatives may access the Premises in a safe and orderly manner. Fifth Pocket acknowledges that its use of the Premises is further subject to the limitations set forth in Paragraph 1. Fifth Pocket shall not permit unauthorized persons from access any other portion of the Building except as required to access the Premises.