O & M Program Sample Clauses
The O & M Program clause defines the requirements and procedures for the ongoing operation and maintenance of a facility, system, or equipment. It typically outlines the responsibilities of the parties involved, specifies the standards or schedules for maintenance activities, and may require the creation and submission of detailed maintenance plans or records. By establishing clear expectations for upkeep and performance, this clause helps ensure the long-term reliability and efficiency of the asset, while minimizing the risk of breakdowns or costly repairs.
O & M Program. In the event any environmental report delivered to Lender in connection with the Loan recommends the development of or continued compliance with an operation and maintenance program for the Property (including, without limitation, with respect to the presence of asbestos and/or lead-based paint) (“O & M Program”), Borrower shall develop (or continue to comply with, as the case may be) such O & M Program and shall, during the term of the Loan, including any extension or renewal thereof, comply in all material respects with the terms and conditions of the O & M Program.
O & M Program. In the event the Environmental Report recommends the development of an operation and maintenance program for any of the Properties (including, without limitation, with respect to the presence of asbestos and/or lead-based paint) (“O & M Program”), Borrowers shall develop an O & M Program, as approved by Lender, in Lender’s sole discretion, and shall, during the term of the Loan, including any extension or renewal thereof, comply in all respects with the terms and conditions of the O & M Program.
O & M Program. In the event any environmental report delivered to Administrative Agent in connection with the Loan recommends the development of or continued compliance with an operation and maintenance program for any Borrowing Base Property (including, without limitation, with respect to the presence of asbestos and/or lead-based paint) (“O & M Program”), Borrower shall develop (or continue to comply with, as the case may be) such O & M Program and shall, during the term of the Loan, including any extension or renewal thereof, comply in all material respects with the terms and conditions of the O & M Program. Notwithstanding the foregoing, to the extent any tenant under a Lease is required to perform the obligations of Borrower under this Section 4.10.3, Borrower shall be deemed in compliance with this Section 4.10.3 if such tenant undertakes and completes such obligations in accordance with the applicable Lease.
O & M Program. In the event any environmental report delivered to Lender in connection with the Loan recommends the development of or continued compliance with an operation and maintenance program for any Property (including with respect to the presence of asbestos and/or lead-based paint) (“O & M Program”), Borrowers shall develop (or continue to comply with, as the case may be) such O & M Program and shall, during the term of the Loan, including any extension or renewal thereof, comply in all material respects with the terms and conditions of the O & M Program. As of the date hereof, Borrower confirms that O&M Plans are currently required with respect to the properties known as ▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ and Borrowers shall develop and comply with the O&M Programs with respect to such Properties as required pursuant to this Section 5.8.3.
O & M Program. In the event the Environmental Report recommends the development of an operation and maintenance program for any Individual Property (including, without limitation, with respect to the presence of asbestos and/or lead-based paint) (“O & M Program”), Borrower shall develop an O & M Program, as approved by Lender, in Lender’s sole discretion, and shall, during the term of the Loan, including any extension or renewal thereof, comply in all respects with the terms and conditions of the O & M Program. With respect to the CCW Property, the O & M Program is that certain Operations and Maintenance Program for Asbestos-Containing Materials dated June 19, 2006, prepared by The LJM Group, Inc., LJM Project No. 06.03.0582, and Borrower shall comply in all respects with the terms and conditions of such O & M Program.