Keep and maintain Clause Samples
The "Keep and maintain" clause requires a party to preserve and uphold certain assets, property, or conditions in a specified state throughout the duration of an agreement. This typically involves obligations such as ensuring equipment remains operational, property is kept in good repair, or records are properly stored and accessible. By imposing these duties, the clause helps prevent deterioration, loss, or neglect, thereby protecting the value and usability of the subject matter for all parties involved.
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Keep and maintain. (and require subsidiaries to keep and maintain) all of its property and assets in good order and repair and maintain fire, public liability and other insurance in coverages and amounts customary for Borrower's business or as Bank from time to time may require and deliver to Bank certificates of all such insurance in effect; and cause all such policies covering property given as security for the Credit Accommodation(s) to have loss payee endorsements in favor of Bank and not to be subject to cancellation unless thirty (30) days prior written notice thereof shall have been received by Bank.
Keep and maintain all property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted.
Keep and maintain all materials, equipment, documents and other property of Capita (“Capita Materials”) at Customer's premises in safe custody at its own risk, maintain the Capita Materials in good condition until returned to Capita, and not dispose of or use the Capita Materials other than in accordance with Capita's written instructions or authorisation. All Capita Materials are the exclusive property of Capita; and
Keep and maintain at Borrower's sole cost and expense, its assets insured against loss or damage by fire, theft, explosion, spoilage and all other hazards and risks ordinarily insured against by other owners or users of such properties in similar businesses in an amount at least equal to the insurable value of all such property. Borrower shall, at its cost and expense, maintain business interruption insurance and liability insurance in such amounts and with such deductibles as are acceptable to the Lender, the proceeds of which liability insurance shall be assigned to the Lender. All such policies of insurance shall be in form and substance reasonably satisfactory to the Lender. Borrower shall deliver to the Lender the original certificate of insurance evidencing each policy and evidence of payment of all premiums therefor. Such policies of insurance shall contain an endorsement, in form and substance satisfactory to the Lender, naming Lender as loss payee and additional insured, as its interests may appear. Such endorsement shall provide that such insurance company will give the Lender at least thirty (30) days prior written notice before any such policy or policies of insurance shall be altered in a manner adverse to Lender, which shall include, but not be limited to, decreases in the amount of coverage limits under such policies of insurance, increases in deductibles required to be paid under such policies of insurance, and elimination or other reduction of specific types of coverage provided under such policies of insurance, or cancelled and that no act or default of Borrower or any other Person shall affect the right of the Lender to recover under such policy or policies of insurance in case of loss or damage. Borrower hereby directs all insurers under such policies of liability insurance to pay all proceeds of insurance policies directly to the Lender and the Lender shall, in its reasonable discretion, either apply such proceeds against the Liabilities (in such order as Lender, in its sole discretion, may determine) or permit the Borrower to use such proceeds to restore or rebuild the damaged property; provided, however, any such insurance proceeds attributable to losses or damages in the amount of One Hundred Fifty Thousand Dollars ($150,000) or less individually or up to Two Hundred Fifty Thousand Dollars ($250,000) in the aggregate at any time shall be paid to the Borrower for application as Borrower shall determine in its reasonable discretion. Borrower irrevocabl...
Keep and maintain the Property in a good state of repair and condition and consistent with commercially reasonable practices;
Keep and maintain the Property and each portion thereof in compliance with, and not cause or permit the Property or any portion thereof to be in violation of, any Environmental Law.