Common use of O&M Programs Clause in Contracts

O&M Programs. As required by Funding Lender, Borrower will also have established a written operations and maintenance program with respect to certain Hazardous Materials. Each such operations and maintenance program and any additional or revised operations and maintenance programs established for the Mortgaged Property pursuant to this Section 6.12 must be approved by Funding Lender and will be referred to in this Continuing Covenant Agreement as an “O&M Program.” Borrower will comply in a timely manner with, and cause all employees, agents, and contractors of Borrower and any other Persons present on the Mortgaged Property to comply with each O&M Program. Borrower will pay all costs of performance of Borrower’s obligations under any O&M Program, and Funding Lender’s out of pocket costs incurred in connection with the monitoring and review of each O&M Program must be paid by Borrower upon demand by Funding Lender. Any such out-of-pocket costs of Funding Lender that Borrower fails to pay promptly will become an additional part of the Indebtedness as provided in Section 9.02.

O&M Programs. As required by Funding Lender, Borrower will also have established a written operations and maintenance program with respect to certain Hazardous Materials. Each such operations and maintenance program and any additional or revised operations and maintenance programs established for the Mortgaged Property pursuant to this Section 6.12 must be approved by Funding Lender and will be referred to in this Continuing Covenant Agreement as an “O&M Program.” Borrower will comply in a timely manner with, and cause all employees, agents, and contractors of Borrower and any other Persons present on the Mortgaged Property to comply with each O&M Program. Borrower will pay all costs of performance of Borrower▇▇▇▇▇▇▇▇’s obligations under any O&M Program, and Funding Lender▇▇▇▇▇▇’s out of pocket costs incurred in connection with the monitoring and review of each O&M Program must be paid by Borrower upon demand by Funding Lender. Any such out-of-pocket costs of Funding Lender that Borrower fails to pay promptly will become an additional part of the Indebtedness as provided in Section 9.02.