Common use of Preservation of Property Clause in Contracts

Preservation of Property. Keep its properties which are necessary to continue business, whether owned in fee or otherwise, or leased, in good operating condition, ordinary wear and tear excepted, and comply with all material leases to which it is a party or under which it occupies or uses property so as to prevent any material loss or forfeiture thereunder.

Appears in 7 contracts

Sources: Credit Agreement (Hallmark Financial Services Inc), Term Loan Agreement (Craftmade International Inc), Loan Agreement (Craftmade International Inc)

Preservation of Property. Keep its properties which are necessary to continue business, whether owned in fee or otherwise, or leased, in good operating condition, ordinary wear and tear excepted, and comply with all material leases to which it is a party or under which it occupies or uses property so as to prevent any material loss or forfeiture thereunder.

Appears in 1 contract

Sources: Credit Agreement (Republic Companies Group, Inc.)