Common use of Maintenance of Security Clause in Contracts

Maintenance of Security. Use, and permit others to use, the Property only for its present use or such other uses as permitted by applicable Legal Requirements and approved in writing by Mortgagee. Mortgagor shall keep the Property in good condition and order and in a rentable and tenantable state of repair and will make or cause to be made, as and when necessary, all repairs, renewals, and replacements, structural and nonstructural, exterior and interior, foreseen and unforeseen, ordinary and extraordinary, provided, however, that no structural repairs, renewals or replacements in excess of $100,000 shall be made without Mortgagee’s prior written consent, not to be unreasonably withheld, conditioned or delayed. Mortgagor shall not remove, demolish or alter any material portion of the Property or any of the Property in a manner that materially adversely affects the same, nor commit or suffer waste with respect thereto, nor permit the Property to become deserted or abandoned. Mortgagor covenants and agrees not to take or permit any action with respect to the Property which will in any manner materially impair the security of this Mortgage.

Appears in 3 contracts

Samples: Purchase Agreement (Environmental Tectonics Corp), Purchase Agreement (Environmental Tectonics Corp), Mortgage and Security Agreement (Environmental Tectonics Corp)

AutoNDA by SimpleDocs

Maintenance of Security. Use, and permit others to use, the Property only for its present use or such other uses as permitted by applicable Legal Requirements and approved in writing by the Mortgagee. The Mortgagor shall keep the Property in good condition and order and in a rentable and tenantable state of repair and will make or cause to be made, as and when necessary, all repairs, renewals, and replacements, structural and nonstructural, exterior and interior, foreseen and unforeseen, ordinary and extraordinary, provided, however, that no structural repairs, renewals or replacements in excess of $100,000 shall be made without the Mortgagee’s 's prior written consent, not to be unreasonably withheld, conditioned or delayed. The Mortgagor shall not remove, demolish or alter any material portion of the Property or any of the Property in a manner that materially adversely affects the same, nor commit or suffer waste with respect thereto, nor permit the Property to become deserted or abandoned. The Mortgagor covenants and agrees not to take or permit any action with respect to the Property which will in any manner materially impair the security of this MortgageMortgage or the use of the Property as set forth in the Loan Documents.

Appears in 3 contracts

Samples: Mortgage and Security Agreement (Quigley Corp), Mortgage and Security Agreement (Quigley Corp), Mortgage and Security Agreement (Greg Manning Auctions Inc)

Maintenance of Security. Use, and permit others to use, the Property only for its present use or such other uses as permitted by applicable Legal Requirements and approved in writing by the Mortgagee. The Mortgagor shall keep the Property in good condition and order and in a rentable and tenantable state of repair and will make or cause to be made, as and when necessary, all repairs, renewals, and replacements, structural and nonstructural, exterior and interior, foreseen and unforeseen, ordinary and extraordinary, provided, however, that no structural repairs, renewals or replacements in excess of $100,000 shall be made without the Mortgagee’s prior written consent, not to be unreasonably withheld, conditioned or delayed. The Mortgagor shall not remove, remove or demolish or alter any material portion of the Property or any of the Property in a manner that materially adversely affects the same, nor commit or suffer waste with respect thereto, nor permit the Property to become deserted or abandoned. The Mortgagor covenants and agrees not to take or permit any action with respect to the Property which will in any manner materially impair the security of this MortgageMortgage or the use of the Property as set forth in the Loan Documents.

Appears in 2 contracts

Samples: Deed and Security Agreement (Air Industries Group), Deed and Security Agreement (Air Industries Group)

Maintenance of Security. Use, and permit others to use, the Property only for its present use or such other uses as permitted by applicable Legal Requirements and approved in writing by the Mortgagee. The Mortgagor shall keep the Property in good condition and order and in a rentable and tenantable state of repair and will make or cause to be made, as and when necessary, all repairs, renewals, and replacements, structural and nonstructural, exterior and interior, foreseen and unforeseen, ordinary and extraordinary, provided, however, that no structural repairs, renewals or replacements in excess of $100,000 shall be made without the Mortgagee’s 's prior written consent, not to be unreasonably withheld, conditioned or delayed. The Mortgagor shall not remove, demolish or alter any material portion of the Property or any of the Property in a manner that materially adversely affects the same, nor commit or suffer waste with respect thereto, nor permit the Property to become deserted or abandoned. The Mortgagor covenants and agrees not to take or permit any action with respect to the Property which will in any manner materially impair the security of this Mortgage.

Appears in 2 contracts

Samples: Note Pncbank (Hydromer Inc), Pncbank and Security Agreement (Aloette Cosmetics Inc)

Maintenance of Security. Use, and permit others to use, the Property only for its present use or such other uses as permitted by applicable Legal Requirements and approved in writing by the Mortgagee, not to be unreasonably withheld. The Mortgagor shall keep or cause to be kept the Property in good condition and order and in a rentable and tenantable state of repair and will make or cause to be made, as and when necessary, all repairs, renewals, and replacements, structural and nonstructuralnon-structural, exterior and interior, foreseen and unforeseen, ordinary and extraordinary, provided, however, . that no structural repairs, renewals or replacements in excess of $100,000 shall be made without the Mortgagee’s 's prior written consent, consent not to be unreasonably withheld, conditioned or delayed. The Mortgagor shall not not, nor shall permit any other person or entity to, remove, demolish or alter any material portion of the Property or any of the Property in a manner that materially adversely affects the same, nor commit or suffer waste with respect thereto, nor permit the Property to become deserted or abandoned. The Mortgagor covenants and agrees not to take or permit any action with respect to the Property which will in any manner materially impair the security of this Mortgage.

Appears in 1 contract

Samples: Asset Purchase Agreement (Tyler Technologies Inc)

AutoNDA by SimpleDocs

Maintenance of Security. Use, and permit others to use, the Property only for its present use or such other uses as permitted by applicable Legal Requirements and approved in writing by the Mortgagee. The Mortgagor shall keep the Property in good condition and order and in a rentable and tenantable state of repair and will make or cause to be made, as and when necessary, all repairs, renewals, and replacements, structural and nonstructural, exterior and interior, foreseen and unforeseen, ordinary and extraordinary, provided, however, that no structural repairs, renewals or replacements in excess of $100,000 shall be made without the Mortgagee’s 's prior written consent, not to be unreasonably withheld, conditioned or delayed. The Mortgagor shall not remove, remove or demolish or alter any material portion of the Property or any of the Property in a manner that materially adversely affects the same, nor commit or suffer waste with respect thereto, nor permit the Property to become deserted or abandoned. The Mortgagor covenants and agrees not to take or permit any action with respect to the Property which will in any manner materially impair the security of this MortgageMortgage or the use of the Property as set forth in the Loan Documents.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Ashlin Development Corp)

Maintenance of Security. Use, and permit others to use, the Property only for its present use or such other uses as permitted by applicable Legal Requirements and approved in writing by the Mortgagee. The Mortgagor shall keep the Property in good condition and order and in a rentable and tenantable state of repair and will make or cause to be made, as and when necessary, all repairs, renewals, and replacements, structural and nonstructural, exterior and interior, foreseen and unforeseen, ordinary and extraordinary, provided, however, that no structural repairs, renewals or replacements in excess of $100,000 shall be made without the Mortgagee’s prior written consent, not to be unreasonably withheld, conditioned or delayed. The Mortgagor shall not remove, demolish or alter any material portion of the Property or any of the Property in a manner that materially adversely affects the same, nor commit or suffer waste with respect thereto, nor permit the Property to become deserted or abandoned. The Mortgagor covenants and agrees not to take or permit any action with respect to the Property which will in any manner materially impair the security of this MortgageMortgage or the use of the Property as set forth in the Loan Documents.

Appears in 1 contract

Samples: And Security Agreement (Miscor Group, Ltd.)

Maintenance of Security. Use, and permit others to use, the Property only for its present use or such other uses as are permitted by applicable Legal Requirements and approved in writing by the Mortgagee. The Mortgagor shall keep the Property in good condition and order and in a rentable and tenantable state of repair and will make or cause to be made, as and when necessary, all repairs, renewals, and replacements, structural and nonstructural, exterior and interior, foreseen and unforeseen, ordinary and extraordinary, provided, however, that no structural repairs, renewals or replacements in excess of $100,000 shall be made without the Mortgagee’s prior written consent, not to be unreasonably withheld, conditioned or delayed. The Mortgagor shall not remove, demolish or alter any material portion of the Property or any of the Property in a manner that materially adversely affects the same, nor commit or suffer waste with respect thereto, nor permit the Property to become deserted or abandoned. The Mortgagor covenants and agrees not to take or permit any action with respect to the Property which will in any manner materially impair the security of this Mortgage.

Appears in 1 contract

Samples: Open End Mortgage and Security Agreement (Environmental Tectonics Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.