Common use of Permanent Certificate of Occupancy Clause in Contracts

Permanent Certificate of Occupancy. Borrower shall (a) maintain the TCO at all times until a new, valid, permanent certificate of occupancy is obtained for the Property (the “PCO”), (b) exercise good faith and commercially reasonable efforts to complete (or cause to be completed) all PCO Issuance Requirements and to cause a PCO to be obtained for the Property and (c) cause a copy of the PCO to be delivered to Lender upon issuance of the PCO. Borrower further covenants throughout the Loan term to continue to renew any then applicable TCO prior to its expiration date and to deliver a renewal TCO to Lender on or before the then applicable expiration date. The terms and provisions of this Section shall not be deemed to limit the other terms and conditions hereof or of the other Loan Documents.

Permanent Certificate of Occupancy. Borrower shall (a) maintain the TCO at all times until a new, valid, permanent certificate of occupancy is obtained for the Property (the “PCO”), (b) exercise good faith and commercially reasonable efforts to complete (or cause to be completed) all PCO Issuance Requirements and to cause a PCO to be obtained for the Property and (c) cause a copy of the PCO to be delivered to Lender upon issuance of the PCO. Borrower further covenants throughout the Loan term to continue to renew any then applicable TCO prior to its expiration date and to deliver a renewal TCO to Lender on or before the then applicable expiration datepromptly upon receipt thereof. The terms and provisions of this Section shall not be deemed to limit the other terms and conditions hereof or of the other Loan Documents.