Preservation of the Property Sample Clauses

POPULAR SAMPLE Copied 7 times
Preservation of the Property. The BORROWER undertakes to maintain the said property in good condition and to exercise the care of a reasonable person with regard thereto, the whole so as not to diminish the LENDER’s security. The BORROWER shall from time to time allow the LENDER to have access to the property for the purpose of inspection.
View SourceView Similar (2)
Preservation of the Property. Grantor (a) shall maintain the Property in good condition and repair; (b) shall promptly repair and restore in a good and workmanlike manner any part of the Property which may be damaged or destroyed, (provided that Insurance Proceeds are made available to pay for the cost of such repair and restoration); (c) shall comply and cause the Property to comply with the provisions of all Insurance Policies; (d) shall comply and cause the Property to comply with all Governmental Requirements; (e) shall comply and cause the Property to comply with all Covenants and Restrictions; (f) shall maintain all Governmental Permits required to operate the Property in the manner in which same is currently being operated; (g) shall not initiate, join in or consent to any change in the zoning, general plan, specific plan, or any other land use classification affecting the Property or any Covenant or Restriction without the prior written consent of Beneficiary; (h) except for Preapproved Alterations, shall not remove, demolish, improve, add to, or alter the Improvements or change the character or use of the Property without the prior written consent of Beneficiary (Beneficiary shall respond to any request for consent under this Section 2.2(h) within seven (7) days of receipt of any such request for consent, which request must be accompanied by all information and documentation that Beneficiary may reasonably require in order to make its determination with respect to such request (“Accompanying Information”). In the event that Beneficiary shall fail to respond to any request for consent under this Section 2.2(h) within such seven (7) day period, Grantor may send a second request, which shall state in capitalized, bold faced 16 point type at the top of the first page that: “If Beneficiary fails to approve or disapprove the request within five (5) days, such request shall be deemed approved”, and if the Beneficiary shall fail to respond to such second request within such five (5) day period, the request shall be deemed approved by the Beneficiary, provided that the Grantor has provided Beneficiary with the Accompanying Information); (i) shall not commit or permit any waste respecting the Loan, Property or impairment of the Property; (j) shall not abandon the Property; (k) shall not commit and shall use commercially reasonable efforts to prevent any act upon the Property in violation of any Governmental Requirements; (l) shall promptly complete all Improvements which Grantor commenc...
View SourceView Similar (2)
Preservation of the Property. The Parent, the Owner Participant and the Borrower shall take all steps reasonably required by the Security Trustee to preserve or protect their respective interests and the interests of the Security Trustee in the Mortgaged Property and the Pledged Beneficial Interests.
View SourceView Similar (2)
Preservation of the Property. Donor acknowledges that Land Trust is interested in acquiring the Conservation Easement for certain Conservation Purposes (as defined in the Conservation Easement) and in order to protect certain Conservation Values (as defined in the Conservation Easement). Donor covenants and agrees that the Property and the natural resources on the Property will remain in their current condition (as of the Agreement Date) until and through the Closing Date and that, until and through the Closing Date, Donor will refrain from and will not actively permit any use of the Property or the natural resources on the Property for any purpose or in any manner that would adversely affect the Conservation Purposes or the Conservation Values. Donor covenants and agrees that, on and after the Agreement Date and until and through the Closing Date, Donor will not create any leases, licenses, easements, tenancies, possessions, rights of way, or other rights to use or occupy any portion of the Property, whether of record, prescriptive, or otherwise not of record with respect to the Property. In the event that (a) Donor fails to maintain the Property and the natural resources on the Property in the condition required by this Paragraph, (b) Donor fails to refrain from or will actively permit use of the Property for any purpose or in any manner that would adversely affect the Conservation Purposes or the Conservation Values, or (c) loss or damage occurs to the Property at any time prior to the Closing: (i) Land Trust may, without liability, refuse to accept the donation of the Conservation Easement, in which event Donor will pay any escrow cancellation fees due to Escrow Holder; or (ii) alternatively, Land Trust may elect to accept conveyance of the Conservation Easement over all or a portion of the Property. Donor will deliver possession of the Conservation Easement to Land Trust at the Closing.
View Source
Preservation of the Property. Each Borrower agrees that such Borrower shall, and shall cause each Lessor to, take all steps reasonably required by the Security Trustee or the Agent to preserve or protect their respective interests and the interests of the Security Trustee in the Mortgaged Property and the Pledged Collateral. Each Borrower hereby authorizes, and will cause each Lessor to authorize, the Security Trustee to instruct its counsel to file one or more UCC financing or continuation statements on its behalf, and amendments thereto, or any similar document, with respect to (i) all or any part of the Mortgaged Property mortgaged by the Borrowers and all or any part of the Pledged Collateral pledged by the Borrowers and (ii) all or any part of the Mortgaged Property mortgaged by any Lessor, in each case, without the signature of the Borrowers or such Lessor.
View Source
Preservation of the Property. Trustor (a) shall maintain the Property in good condition and repair; provided, however, Trustor may demolish the existing Improvements thereon for the purpose of preparing the Property for redevelopment; (b) shall comply and cause the Property to comply with the provisions of all Insurance Policies; (c) shall comply and cause the Property to comply with all Governmental Requirements; (d) shall comply and cause the Property to comply with all Covenants and Restrictions; (e) shall maintain in effect all Governmental Permits; (f) except for matters in the ordinary course of Trustor’s business, shall not remove, demolish, improve, add to, or alter the Improvements (excluding alterations which preserve or increase the value of the Property); (g) shall not commit or permit any waste respecting the Property or impairment of the Property; (h) shall not abandon the Property; (i) shall not commit or permit any act upon the Property in violation of any Governmental Requirements; and (k) shall maintain and do all other acts, in a timely and proper manner, which from the character or use of the Property may be necessary or appropriate to preserve, protect and maintain the value of the Property.
View Source
Preservation of the Property. At all times prior to the Closing, Seller, at its sole expense, shall: (a) Maintain the Property in the same condition existing on the Effective Date, normal wear and tear and the site work contemplated by this Agreement excepted; (b) Not enter into any, sales or other contract, lease or rental agreement affecting the Property without Buyer's prior written approval; (c) Not further encumber the Property or assist or participate in the placement of any encumbrance, lien or other claim which may affect title to the Property or easement areas of Seller's Project and which cannot be released (or appropriately subordinated to Buyer's easement rights if affecting only the easement areas) at Closing; (d) Not enter into any management or service contract affecting the Property or its operation which cannot be terminated or released at Closing without Buyer's prior approval; and (e) Observe and perform all obligations on Seller's part to be performed under the terms of any agreement affecting the Property.
View Source
Preservation of the Property. Trustor (a) shall keep the Property in good condition and repair, (b) shall not remove, demolish or substantially alter any building, structure or improvement thereon, (c) shall complete or restore promptly and in good and workm_nlike manner any building or other improvement thereon, including all equipment, which may be constructed, damaged or destroyed thereon and will pay when due all claims for labor performed and material furnished therefor, (d) shall comply with the provisions of all insurance policies covering, and with all laws and regulations affecting, the Property or any improvements thereon, including equipment, or requiring any alterations, repairs or improvement thereon, (e) shall not commit or suffer any waste thereon, (f) shall not commit or suffer any act upon the Property in violation of any provision of any insurance policy or law or regulation, and (g) consistent with the use thereof, do all other acts which the character or use of the Property may reasonably require.
View Source

Related to Preservation of the Property

  • Operation of the Property Between June 1, 1998 and the Closing Date, Seller shall (a) lease, operate, manage and enter into contracts with respect to the Property, in the same manner done by Seller prior to the date hereof (provided, however, that without the prior consent of Purchaser, which as to (i) and (ii) shall not be unreasonably delayed, conditioned or withheld, (i) Seller shall not enter into any Service Contract that cannot be terminated with thirty (30) days notice or materially modify any existing Service Contracts to be assumed by Purchaser at Closing, and (ii) after June 1, 1998, Seller shall not materially modify or terminate any existing Tenant Lease or grant any material consents under any existing Tenant Lease (except as otherwise required pursuant to the terms and conditions of such Tenant Lease), or enter into any new Tenant Lease, and (iii) Seller shall not apply any then unapplied Deposits (as reflected on the Rent Roll delivered by Seller to Purchaser pursuant to Schedule 5.3(vii) hereof) under Tenant Leases); and (b) advise Purchaser of the commencement of any litigation, condemnation or other judicial or administrative proceedings affecting the Property of which Seller has current actual knowledge. Notwithstanding anything to the contrary set forth in this Contract, Purchaser acknowledges that after June 1, 1998 and prior to Closing, Seller will enter into contracts for the completion of Tenant improvements under Tenant Leases entered into after June 1, 1998 pursuant to the terms of Section 12.1 hereof (collectively, the "Tenant Finish Contracts"). Purchaser and Seller agree that at Closing, Purchaser shall assume the obligations of Seller under all such Tenant Finish Contracts including, without limitation, the obligations to pay any costs and expenses charged with respect to construction of improvements in the space subject to such Tenant Leases. At Closing, Purchaser shall execute and deliver to the Seller an Assignment, Assumption and Indemnity Agreement in the form attached hereto as Exhibit H and made a part hereof for all purposes.

  • Preservation, Maintenance, and Protection of the Property Inspections. Borrower will not destroy, damage, or impair the Property, allow the Property to deteriorate, or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower must maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless Lender determines pursuant to Section 5 that repair or restoration is not economically feasible, Borrower will promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid to Lender in connection with damage to, or the taking of, the Property, Borrower will be responsible for repairing or restoring the Property only if ▇▇▇▇▇▇ has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed, depending on the size of the repair or restoration, the terms of the repair agreement, and whether Borrower is in Default on the Loan. Lender may make such disbursements directly to Borrower, to the person repairing or restoring the Property, or payable jointly to both. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower remains obligated to complete such repair or restoration. Lender may make reasonable entries upon and inspections of the Property. If Lender has reasonable cause, ▇▇▇▇▇▇ may inspect the interior of the improvements on the Property. Lender will give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause.

  • Condition of the Property All bidders shall be deemed to have carried out all investigations and examinations of the Property and the title particulars at their own costs and expenses and upon being successful, accept the property in the state and condition in which the Property is at the date of the auction sale.

  • Possession of the Property The Parties hereby agree that the exclusive possession of the Property shall be delivered by the Seller to the Buyer on

  • Preservation of Property Bank shall not be bound to take any steps necessary to preserve any rights in any property pledged as collateral to Bank to secure Borrower and/or Guarantor's Liabilities and Obligations as against prior parties who may be liable in connection therewith, and Borrower and Guarantor hereby agree to take any such steps. Bank, nevertheless, at any time, may (a) take any action it deems appropriate for the care or preservation of such property or of any rights of Borrower and/or Guarantor or Bank therein; (b) demand, sue for, collect or receive any money or property at any time due, payable or receivable on account of or in exchange for any property pledged as collateral to Bank to secure Borrower and/or Guarantor's Liabilities to Bank; (c) compromise and settle with any person liable on such property; or (d) extend the time of payment or otherwise change the terms of the Loan Documents as to any party liable on the Loan Documents, all without notice to, without incurring responsibility to, and without affecting any of the Obligations or Liabilities of Guarantor.