Common use of Repair and Alterations Clause in Contracts

Repair and Alterations. (a) Each Chargor shall repair its Properties and keep it in good and substantial repair and condition (fair wear and tear excepted) (provided that where such Properties are held under a lease, compliance by the relevant Chargor with its obligations under such lease shall be sufficient (fair wear and tear excepted). (b) Each Chargor shall ensure that neither it nor any other person demolishes or makes any alterations or additions to the Properties or injures or in any manner or by any means lessens the value of the Properties nor, unless it promptly replaces them with others of equal or greater value, removes any Fixtures from the Properties if, in any case, doing this will have a material adverse effect on the value of the Properties or will breach the terms or covenants contained in the Government Grant. (c) Each Chargor shall permit the Security Trustee, the Receiver or any other person appointed by any of them on reasonable notice at all reasonable times on Business Days to have access to and view the state of repair and condition of the Properties without such person, by so doing, being deemed to have taken possession of the Properties.

Repair and Alterations. (a) Each The Chargor shall repair its Properties and keep it in good and substantial repair and condition (fair wear and tear excepted) (provided that where such Properties are held under a lease, compliance by the relevant Chargor with its obligations under such lease shall be sufficient (fair wear and tear excepted). (b) Each The Chargor shall ensure that neither it nor any other person demolishes or makes any alterations or additions to the Properties or injures or in any manner or by any means lessens the value of the Properties nor, unless it promptly replaces them with others of equal or greater value, removes any Fixtures from the Properties if, in any case, doing this will have a material adverse effect on the value of the Properties or will breach the terms or covenants contained in the Government GrantProperties. (c) Each The Chargor shall permit the Security Trustee, the Receiver or any other person appointed by any of them on reasonable notice at all reasonable times on Business Days to have access to and view the state of repair and condition of the Properties without such person, by so doing, being deemed to have taken possession of the Properties.