Common use of Maintenance of the Mortgaged Property Clause in Contracts

Maintenance of the Mortgaged Property. The Mortgagor shall cause the Mortgaged Property to be maintained in good condition and repair and will not commit or suffer to be committed any waste of the Mortgaged Property. The Improvements and the Equipment shall not be removed, demolished or materially altered (except for normal replacement of the Equipment) without the prior written consent of the Mortgagee. The Mortgagor shall promptly comply with all existing and future governmental laws, orders, ordinances, rules and regulations affecting the Mortgaged Property, or any portion thereof or the use thereof. The Mortgagor shall promptly repair, replace or rebuild any part of the Mortgaged Property which may be damaged or destroyed by fire or other property hazard or casualty (including any fire or other property hazard or casualty for which insurance was not obtained or obtainable) or which may be affected by any taking by any public or quasi- public authority through eminent domain or otherwise, and shall complete and pay for, within a reasonable time, any structure at any time in the process of construction or repair on the Premises. If such fire or other property hazard or casualty shall be covered by the Policies, the Mortgagor shall remain obligated to repair, replace or rebuild such portion of the Mortgaged Property notwithstanding that the proceeds from such Policies may be insufficient to affect such repair, replacement or rebuilding or that the Mortgagee shall exercise its rights under Section 3 hereof to retain and apply all or any portion of such proceeds to the Debt. The Mortgagor will not, without obtaining the prior consent of the Mortgagee, initiate, join in or consent to any private restrictive covenant, zoning ordinance, or other public or private restrictions, limiting or affecting the uses which may be made of the Mortgaged Property or any part thereof.

Appears in 2 contracts

Samples: Mortgage, Security Agreement, Mortgage, Security Agreement

AutoNDA by SimpleDocs

Maintenance of the Mortgaged Property. The Mortgagor shall cause the Mortgaged Property to be maintained in good condition and repair and will not commit or suffer to be committed any waste of the Mortgaged Property, and following validation or certification by the Food and Drug Administration ("FDA") the Mortgagor shall cause the Mortgaged Property to be maintained in compliance with the Current Good Manufacturing Practice Regulations ("CGMP") of the FDA for drug manufacture and processing. The Improvements and the Equipment shall not be removed, demolished or materially altered (except for normal replacement of the Equipment) Equipment in the ordinary course of business), without the prior written consent of the MortgageeCollateral Agent. The Mortgagor shall promptly comply with all existing and future governmental laws, orders, ordinances, rules and regulations (including without limitation the FDA and CGMP) affecting the Mortgaged Property, or any portion thereof or the use thereof. The Mortgagor shall promptly repair, replace or rebuild any part of the Mortgaged Property which may be damaged or destroyed by fire or other property hazard or casualty (including any fire or other property hazard or casualty for which insurance was not obtained or obtainable) or which may be affected by any taking by any public or quasi- quasi-public authority through eminent domain or otherwise, and shall complete and pay for, within a reasonable time, any structure at any time in the process of construction or repair on the Premises. If such fire or other property hazard or casualty shall be covered by the Policies, the Mortgagor shall remain obligated Mortgagor's obligation to repair, replace or rebuild such portion of the Mortgaged Property notwithstanding that shall be contingent upon the Mortgagee paying the Mortgagor the proceeds from of the Policies, or such Policies may portion thereof as shall be insufficient sufficient to affect complete such repair, replacement or rebuilding or that the Mortgagee shall exercise its rights under Section 3 hereof to retain and apply all or any portion of such proceeds to the Debtrebuilding, whichever is less. The Mortgagor will not, without obtaining the prior consent of the MortgageeCollateral Agent, initiate, join in or consent to any private restrictive covenant, zoning ordinance, or other public or private restrictions, limiting or affecting the uses which may be made of the Mortgaged Property or any part thereof.

Appears in 1 contract

Samples: Mortgage, Security Agreement (Nexmed Inc)

Maintenance of the Mortgaged Property. The Mortgagor shall cause the Mortgaged Property to be maintained in good condition and repair and will not commit or suffer to be committed any waste of the Mortgaged Property. The Improvements and the Equipment shall not be removed, demolished or materially altered (except for normal replacement of the Equipment) ), without the prior written consent of the Mortgagee. The Mortgagor shall promptly comply with all existing and future governmental laws, orders, ordinances, rules and regulations affecting the Mortgaged Property, or any portion thereof or the use thereof. The Mortgagor shall promptly repair, replace or rebuild any part of the Mortgaged Property which may be damaged or destroyed by fire or other property hazard or casualty (including any fire or other property hazard or casualty for which insurance was not obtained or obtainable) or which may be affected by any taking by any public or quasi- quasi-public authority through eminent domain or otherwise, and shall complete and pay for, within a reasonable time, any structure at any time in the process of construction or repair on the Premises. If such fire or other property hazard or casualty shall be covered by the Policies, the Mortgagor shall remain obligated Mortgagor's obligation to repair, replace or rebuild such portion of the Mortgaged Property notwithstanding that shall be contingent upon the Mortgagee paying the Mortgagor the proceeds from of the Policies, or such Policies may portion thereof as shall be insufficient sufficient to affect complete such repair, replacement or rebuilding or that the Mortgagee shall exercise its rights under Section 3 hereof to retain and apply all or any portion of such proceeds to the Debtrebuilding, whichever is less. The Mortgagor will not, without obtaining the prior consent of the Mortgagee, initiate, join in or consent to any private restrictive covenant, zoning ordinance, or other public or private restrictions, limiting or affecting the uses which may be made of the Mortgaged Property or any part thereof.

Appears in 1 contract

Samples: Mortgage (Boundless Corp)

Maintenance of the Mortgaged Property. The Mortgagor shall cause the Mortgaged Property to be maintained in good condition and repair and will not commit or suffer to be committed any waste of the Mortgaged Property. The Improvements and the Equipment shall not be removed, demolished or materially altered (except for normal replacement of the Equipment) without the prior written consent of the Mortgagee. The Mortgagor shall promptly comply with all existing and future governmental laws, orders, ordinances, rules and regulations affecting the Mortgaged Property, or any portion thereof or the use thereof. The Mortgagor shall promptly repair, replace or rebuild any part of the Mortgaged Property which may be damaged or destroyed by fire or other property hazard or casualty (including any fire or other property hazard or casualty for which insurance was not obtained or obtainable) or which may be affected by any taking by any public or quasi- quasi-public authority through eminent domain or otherwise, and shall complete and pay for, within a reasonable time, any structure at any time in the process of construction or repair on the Premises. If such fire or other property hazard or casualty shall be covered by the Policies, the Mortgagor shall remain obligated to repair, replace or rebuild such portion of the Mortgaged Property notwithstanding that the proceeds from such Policies may be insufficient to affect such repair, replacement or rebuilding or that the Mortgagee shall exercise its rights under Section 3 hereof to retain and apply all or any portion of such proceeds to the Debt. The Mortgagor will not, without obtaining the prior consent of the Mortgagee, initiate, join in or consent to any private restrictive covenant, zoning ordinance, or other public or private restrictions, limiting or affecting the uses which may be made of the Mortgaged Property or any part thereof.

Appears in 1 contract

Samples: Mortgage, Security Agreement

AutoNDA by SimpleDocs

Maintenance of the Mortgaged Property. The Mortgagor shall cause ------------------------------------- the Mortgaged Property to be maintained in good condition and repair and will not commit or suffer to be committed any waste of the Mortgaged Property. The Improvements and the Equipment shall not be removed, demolished or materially altered (except for normal replacement of the Equipment) ), without the prior written consent of the Mortgagee. The Mortgagor shall promptly comply with all existing and future governmental laws, orders, ordinances, rules and regulations affecting the Mortgaged Property, or any portion thereof or the use thereof. The Mortgagor shall promptly repair, replace or rebuild any part of the Mortgaged Property which may be damaged or destroyed by fire or other property hazard or casualty (including any fire or other property hazard or casualty for which insurance was not obtained or obtainable) or which may be affected by any taking by any public or quasi- quasi-public authority through eminent domain or otherwise, and shall complete and pay for, within a reasonable time, any structure at any time in the process of construction or repair on the Premises. If such fire or other property hazard or casualty shall be covered by the Policies, the Mortgagor shall remain obligated Mortgagor's obligation to repair, replace or rebuild such portion of the Mortgaged Property notwithstanding that shall be contingent upon the Mortgagee paying the Mortgagor the proceeds from of the Policies, or such Policies may portion thereof as shall be insufficient sufficient to affect complete such repair, replacement or rebuilding or that the Mortgagee shall exercise its rights under Section 3 hereof to retain and apply all or any portion of such proceeds to the Debtrebuilding, whichever is less. The Mortgagor will not, without obtaining the prior consent of the Mortgagee, initiate, join in or consent to any private restrictive covenant, zoning ordinance, or other public or private restrictions, limiting or affecting the uses which may be made of the Mortgaged Property or any part thereof.

Appears in 1 contract

Samples: Settlement Agreement (Unigene Laboratories Inc)

Maintenance of the Mortgaged Property. The Mortgagor shall cause the Mortgaged Property to be maintained in good condition and repair and will not commit or suffer to be committed any waste of the Mortgaged Property. The Improvements and the Equipment shall not be removed, demolished or materially altered (except for normal replacement of the Equipment) without the prior written consent of the Mortgagee. The Mortgagor shall promptly comply with all existing and future governmental laws, orders, ordinances, rules and regulations affecting the Mortgaged Property, or any portion thereof or the use thereof, including without limitation, the Americans with Disabilities Act of 1990 (42 U.S.C.A. Sec. 12101 et. seq.) The Mortgagor shall promptly repair, replace or rebuild any part of the Mortgaged Property which may be damaged or destroyed by fire or other property hazard or casualty (including any fire or other property hazard or casualty for which insurance was not obtained or obtainable) or which may be affected by any taking by any public or quasi- quasi-public authority through eminent domain or otherwise, and shall complete and pay for, within a reasonable time, any structure at any time in the process of construction or repair on the Premises. If such fire or other property hazard or casualty shall be covered by the Policies, the Mortgagor shall remain obligated Mortgagor's obligation to repair, replace or rebuild such portion of the Mortgaged Property notwithstanding that shall be contingent upon the Mortgagee paying the Mortgagor the proceeds from of the Policies, or such Policies may portion thereof as shall be insufficient sufficient to affect complete such repair, replacement or rebuilding or that the Mortgagee shall exercise its rights under Section 3 hereof to retain and apply all or any portion of such proceeds to the Debtrebuilding, whichever is less. The Mortgagor will not, without obtaining the prior consent of the Mortgagee, initiate, join in or consent to any private restrictive covenant, zoning ordinance, or other public or private restrictions, limiting or affecting the uses which may be made of the Mortgaged Property or any part thereof.

Appears in 1 contract

Samples: Agreement and Fixture Filing (Boreal Water Collection Inc.)

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