Performance of Replacements. (a) Borrower shall cause Mortgage Borrower to make Replacements when required in order to keep each Individual Property in condition and repair consistent with other first class, full service hotels in the same market segment and under the same franchisor in the metropolitan area in which the respective Individual Property is located, and to keep each Individual Property or any portion thereof from deteriorating. Borrower shall cause Mortgage Borrower to complete all Replacements in a good and workmanlike manner as soon as practicable following the commencement of making each such Replacement.
Appears in 2 contracts
Sources: Junior Mezzanine Loan Agreement (Felcor Lodging Trust Inc), Mezzanine Loan Agreement (Felcor Lodging Trust Inc)
Performance of Replacements. (a) Borrower shall make or cause Mortgage Borrower and Property Owner to make Replacements each Replacement when required in order to keep each Individual Property in good order, condition and repair consistent with other first class, full service hotels in the same market segment and under the same franchisor in the metropolitan area in which the respective Individual Property is locatedrepair, and to keep each Individual Property or any portion thereof from deteriorating. Borrower shall complete or cause Mortgage Borrower and Property Owner to complete all Replacements in a good and workmanlike manner as soon as practicable practicable, subject to force majeure delay, following the commencement of making each such Replacement.
Appears in 2 contracts
Sources: Mezzanine Loan Agreement (ESH Hospitality LLC), Mezzanine Loan Agreement (ESH Hospitality LLC)
Performance of Replacements. (a) Borrower and Property Owner shall cause Mortgage Borrower to make Replacements each Replacement when required in order to keep each Individual Property in good order, condition and repair consistent with other first class, full service hotels in the same market segment and under the same franchisor in the metropolitan area in which the respective Individual Property is locatedrepair, and to keep each Individual Property or any portion thereof from deteriorating. Borrower shall cause Mortgage Borrower to complete all Replacements in a good and workmanlike manner as soon as practicable practicable, subject to force majeure delay, following the commencement of making each such Replacement.
Appears in 1 contract
Sources: Loan Agreement (ESH Hospitality LLC)