Maintenance and Use of Project. (1) The Borrower will maintain the Project in good condition and make all necessary renewals, replacements, additions, betterments, and improvements thereof and thereto. However, the Borrower may sell or otherwise dispose of all or any part of the Project for fair market value if such part has become obsolete or outmoded or for other reasons is not needed by the Borrower, so long as
Maintenance and Use of Project. (a) Subject to Article VII hereof, the Lessee, at its expense, will keep or cause the Project to be kept in good repair, working order and condition (ordinary wear and tear excepted) and will make all necessary or appropriate repairs, replacements and renewals thereof, interior, exterior, structural and non-structural, ordinary and extraordinary and foreseen and unforeseen so that the Project can be used for the Project Purposes.
Maintenance and Use of Project. Each Borrower shall maintain or cause to be maintained its Project in a good and safe condition and repair. Except for alterations permitted under Section 5.19, the improvements and the personal property owned by Borrower with respect to the Project shall not be removed, demolished or materially altered without the written consent of Bank, which consent shall not be unreasonably withheld, conditioned, or delayed; provided, however, that such personal property may be removed from Project without the prior consent of Bank if such personal property is obsolete or is otherwise replaced with personal property of reasonably equivalent value. If under applicable zoning provisions the use of all or any portion of its Project is or shall become a nonconforming use, no Borrower shall cause or permit the nonconforming use to be discontinued or the nonconforming improvement to be abandoned without the express written consent of Bank, which consent shall not be unreasonably withheld, conditioned, or delayed. No Borrower shall establish any condominium or cooperative regime with respect to its Project without the prior written consent of Bank, nor shall any Borrower initiate, join in or consent to any change in any private restrictive covenant, zoning ordinance or other public or private restrictions, limiting or defining the uses which may be made of its Project or any portion thereof.
Maintenance and Use of Project. (a) Subject to Article VII of this Exhibit E, after the Completion Date, Tenant, at its expense, shall keep or cause to be kept, the Premises in good order and condition (ordinary wear and tear excepted) and shall make all necessary or appropriate repairs, replacements and renewals thereof, interior and exterior, structural and non-structural, ordinary and extraordinary, so that the Premises can be used for the Project Purposes.
Maintenance and Use of Project. Section 5.1 Compliance with Legal and Insurance Requirements . . . . . . . . . . . . . . . . . . . 17 Section 5.2 Maintenance and Use of Project . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Section 5.3 Alterations, Additions and Improvements . . . . . . . . . . . . . . . . . . . . . . . . 18 Section 5.4 Removals and Substitutions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Section 5.5 Indemnification . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Section 5.6
Maintenance and Use of Project. 8 Section 4.1. COMPLIANCE WITH LEGAL AND INSURANCE REQUIREMENTS.............................................. 8 Section 4.2. MAINTENANCE AND USE OF PROJECT SITE AND PROJECT FACILITIES................................................ 9 Section 4.3. ADDITIONS, MODIFICATIONS AND IMPROVEMENTS................. 9 Section 4.4. SUBSTITUTIONS AND REMOVALS................................ 9 Section 4.5. INDEMNIFICATION........................................... 9 ARTICLE V. -- TAXES, MECHANICS' LIENS AND INSURANCE....................... 10 Section 5.1. PAYMENT OF TAXES, AND OTHER GOVERNMENTAL CHARGES................................................... 10 Section 5.2. MECHANICS' AND OTHER LIENS................................ 11 Section 5.3. INSURANCE................................................. 11 Section 5.4. WORKERS' COMPENSATION COVERAGE............................ 12 Section 5.5. PAYMENT BY SUBLESSOR OR DIRECTOR.......................... 12
Maintenance and Use of Project. (a) At its own cost and expense the Company shall operate and maintain the Project in compliance with all legal requirements and in good repair and operating condition, reasonable wear and tear excepted, and from time to time shall make all reasonably necessary repairs, renewals and replacements and any repairs, renewals and replacements required to maintain any then existing license or franchise with respect to the Project.
Maintenance and Use of Project. The Company shall cause the Project to be maintained, preserved and kept in good repair and working order and condition and in as safe condition as its operations will permit and shall make all repairs, renewals, replacements and improvements thereof necessary for the efficient operation of the Project. Nothing in this Section shall obligate the Company to preserve, repair, renew or replace any property no longer used or no longer useful in the conduct of its business, or prevent the Company from discontinuing the operation of any of its property or from removing or demolishing any building or buildings, if in its judgment (evidenced, in the case of such a cessation other than in the ordinary course of business, by a determination by its general partner) such discontinuance is desirable in the conduct of its business. The Company may make additions, alterations and changes to the Project so long as such additions, alterations and changes are made in compliance with the provisions of this Loan Agreement and will not result in a violation of the provisions of this Loan Agreement, and the Company may dispose of any property as permitted by this Loan Agreement. Subject to the provisions of this Article, the Company shall have the right to use the Project for any purpose allowed by law and specified by the Act. Except as provided in this Loan Agreement, the Issuer reserves no power or authority with respect to the operation of the Project by the Company and activities incident thereto, nor does it have any duty to monitor the same, it being the intention of the parties to this Loan Agreement that so long as the Company shall duly and faithfully observe and perform all of the terms, covenants, provisions and agreements of this Loan Agreement, the Company shall manage, administer and govern the Project and its activities and affairs on a continuing day-to-day basis.
Maintenance and Use of Project. Section 5.1 Compliance with Legal and Insurance Requirements........................................... 17 Section 5.2 Maintenance and Use of Project............................................................. 17 Section 5.3 Alterations, Additions and Improvements.................................................... 18 Section 5.4 Removals and Substitutions................................................................. 18 Section 5.5 Indemnification............................................................................ 19 Section 5.6
Maintenance and Use of Project. (1) The Borrower will maintain the Project in good condition and make all necessary renewals, replacements, additions, betterments, and improvements thereof and thereto. However, the Borrower may sell or otherwise dispose of all or any part of the Project for fair market value if such part has become obsolete or outmoded or for other reasons is not needed by the Borrower, so long as (i) the Borrower shall deliver to the Issuer, the Administrator, and the Bank a Favorable Opinion of Bond Counsel with respect to such sale or other disposition, and (ii) the proceeds of such sale or other disposition are used by the Borrower to purchase replacements or substitutions for the Project sold or disposed of, which replacements or substitutions shall become a part of the Project, or to prepay the Loan. The Borrower represents that it does not presently intend to sell the Project.
