Operating Covenant Clause Samples
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Operating Covenant. (a) Subject to Tenant’s termination rights with respect to each Nonprofitable Property, or any other termination of this Master Lease with respect to any individual Demised Premises or all of the Demised Premises prior to the expiration of the Term, in accordance with the terms of this Master Lease, and subject to the provisions of Section 7.3(b) except in instances of casualty or condemnation during the period reasonably required for restoration, or for consecutive periods not to exceed one hundred twenty (120) days in connection with Alterations and other repairs subject to extension for Force Majeure, or for such other periods as Tenant reasonably determines in good faith are reasonably required in connection with the separation and division of any Recapture Property and/or Additional Recapture Space (in each case subject to Landlord’s reasonable approval), Tenant covenants and agrees to and shall continuously operate the retail business of each Sears Store as a Sears store and of each Kmart Store as a Kmart store (including, in part, by means of the Subleases) subject to and in accordance with the use provisions of Section 7.2, stocked and staffed as is generally consistent with Tenant’s applicable regional practices in the ordinary course of business (subject to any additional applicable terms and conditions of this Master Lease, including Section 7.3(b)), subject to any Rebranding and/or Alternative Retail Use (subject in all cases to all applicable Legal Requirements), during such hours of operation as are generally consistent with those of similar national retailers further, subject to any additional hours as Tenant may determine in its discretion; provided, however, that in no event shall Tenant be required to (but may in its discretion) operate during any hours which are longer or more restrictive than those (i) as currently operated by Tenant at each individual Demised Premises as of the Commencement Date or as determined by Tenant at any individual Demised Premises from time to time with respect to holiday schedules, or (ii) of any other anchor tenant or the majority of the other tenants or occupants of the Property and the balance of the Shopping Center from time to time. Tenant shall keep the Demised Premises (including all customer and service areas) in no worse condition than their current condition on the Commencement Date (subject to the repairs to be made in accordance with Schedule 10.1 to the Side Letter.
(b) Notwithstanding the provis...
Operating Covenant. Except in instances of casualty or condemnation during the period reasonably required for restoration, or for consecutive periods not to exceed one hundred twenty (120) days in connection with Alterations and other repairs subject to extension for Force Majeure, Tenant covenants and agrees to and shall continuously operate the retail business of each Bank Branch subject to and in accordance with the use provisions of Section 7.2 during such hours of operation as are generally consistent with those of similar bank branches, subject to any additional hours as Tenant may determine in its discretion; provided, however, that in no event shall Tenant be required to (but may in its discretion) operate during any hours which are longer or more restrictive than those as currently operated by Tenant at each individual Property as of the Commencement Date or as determined by Tenant at any individual Property from time to time with respect to holiday schedules.
Operating Covenant a. The Tenant shall not abandon or leave vacant the chalet and shall not allow anyone other than Tenant, its employees, or agents to occupy it. Tenant shall not conduct an auction, going-out-of-business, bankruptcy sales, or similar practice.
b. Tenant may not display merchandise outside of the chalet when not open for business or obstruct the public rights of way without prior written consent from the Chamber of Commerce.
c. Tenant must keep their chalet and surrounding area clean, neat, and safe.
d. Tenant shall refrain from using the chalet in any way that is disruptive, a nuisance, annoyance, or an inconvenience.
e. Tenant must keep the chalet continuously and uninterruptedly open for business and adequately staffed no less than 10 hours per week with 4 of those hours required to be on all Saturdays between the hours of 8:00 a.m. – 1:00 p.m. (with the exception to weekend only renters only being required the 4 Saturday hours.) Noting that emergencies do arise from time-to-time, a grace period of five absences will be given (unless Tenant has contacted staff and received written authorization for more absences under extenuating circumstances). After five such absences, the Tenant will be fined $50 for each day they remain closed for the season.
f. Tenant shall maintain a stock of merchandise throughout their lease agreement.
g. Tenant shall comply with all laws, ordinances, orders, rules, regulations, and requirements of federal, state, county, and city government regulating the use and occupancy of the chalet.
h. Tenant shall not install any signs on the chalet or display any additional signs on the sidewalk or porch. No outside displays shall be attached to the building, cover the building, or cover the windows. If outdoor displays are used, they must be tastefully decorated. They cannot be on the sidewalk. It is the tenant’s responsibility to inform their employees of the rules. Items must be removed immediately when told and a $50 fine will be issued after the second warning. If racks are used, they are limited to two racks for their outdoor display. Three or more violations of this section may result in not being allowed to participate as a future renter.
i. No changes shall be made to the inside structure or the outside of the chalet in such a manner as to detract from the character and standards of the chalet. Tenant may submit a formal request for any suggested improvements or changes they would like to make.
j. Tenant shall say no disparaging r...
Operating Covenant. The Demised Premises shall be occupied and 32 operated from and after the Occupancy Date, continuously and uninterruptedly, during Premises 33 Operating Hours on each and every calendar day during the term of this Lease (specifically including 34 Sundays and Holidays) for the Observation Deck Uses except during a Permitted Closure. "Permitted
Operating Covenant. Following the Effective Date for so long as the Bugatti Member continues to hold Membership Interests, the Cobra Member shall, and shall cause its Affiliates and shall cause the Company and its Affiliates to (a) operate the Business in the ordinary course of business consistent with past practice and (b) not take any actions, the primary intent of which could reasonably be expected to reduce the Exit Price, provided that nothing in this Section 3.20 shall prohibit the Cobra Member or any of its Affiliates or the Company and its Affiliates, from taking any action reasonably necessary to respond to any Emergency Event, provided that such action is materially consistent with the actions taken by other companies in similarly situated industries as the Business or as would be taken by a reasonably prudent businessperson in response thereto.
Operating Covenant. Tenant shall promptly install its leasehold improvements and will be open for business on or before the Commencement Date, and Tenant shall not thereafter abandon or leave vacant the Demised Premises, and shall not permit the license or occupancy of the Demised Premises by any party other than Tenant, its agents, employees and invites, and shall:
(a) Conduct no auction, fire, going-out-of-business or bankruptcy sales or similar practice.
(b) Display no merchandise outside the Demised Premises nor in any way obstruct the adjacent sidewalks; and, store all trash and refuse in appropriate containers within the Demised Premises and attend to the daily disposal thereof in the manner designated by Landlord. Tenant shall not burn any trash or rubbish in or about the Demised Premises or anywhere else within the confines of the Shopping Center.
(c) Load or unload all merchandise, supplies, fixtures, equipment and furniture and cause the collection of rubbish only through the rear service door or doors (unless no such door is provided) of the Demised Premises, from 9:00 a.m. until 10:00 p.m. Normal delivery service to customers may be made through the front entrance.
(d) Keep the Demised Premises in a careful, safe, clean and proper manner; and not permit any rubbish or refuse of any nature emanating from the Demised Premises to accumulate in the sidewalk areas or rear delivery area(s).
(e) Not solicit business in the Common Areas or distribute any handbills or other advertising matter in the Common Areas.
(f) Prevent the Demised Premises from being used in any way which will injure the reputation of the same or the Shopping Center upon which the Demised Premises constitute a part or from being used in any way which may be a nuisance, annoyance, inconvenience or damaging or inimical to the other tenants or occupants of the Shopping Center, including, without limiting the generality of the foregoing, the operation of any instrument or apparatus or equipment or the carrying on of any trade or occupation which emits an odor discernible outside of the Demised Premises or which may be deemed offensive in nature or noise by the playing of any musical instrument or radio or television or the use of a microphone, loud speaker, electrical equipment or other equipment which may be heard outside of the Demised Premises.
(g) Abide by all reasonable rules and regulations established by Landlord, from time to time, with respect to the Common Areas, facilities, improvements and si...
Operating Covenant. Owner covenants to the City to continuously operate (for a period of not less than 8 hours per day for a minimum of four days per week), or cause a tenant of the Property (“Tenant”) to operate, a Business on the Property throughout the entirety of the Operating Period. Owner shall, for the entirety of the Operating Period, at Owner’s sole cost and expense (or at the expense of a Tenant, as applicable), obtain and maintain all franchises, permits, contractual arrangements, licenses, and registrations necessary for the continuous operation of the Business, or require the foregoing to be performed by a Tenant. Notwithstanding the foregoing, in the event the Business shall cease operation for any reason, Owner shall be permitted up to a period of six months to commence a new Business on the Property (or obtain a new Tenant to open a Business on the Property), provided that the Operating Period shall be extended by the same number of days as there was no Business in operation on the Property during such period; provided that in no event shall a Business not be in operation on the Property for more than six months during any twelve month period.
Operating Covenant. (a) Except during any applicable Permitted Go Dark Event and subject to Tenant’s other rights to Go Dark pursuant to this Section 7.4, Tenant shall at all times during the Term continuously operate each Demised Premises in accordance with the Permitted Use. Tenant hereby acknowledges and agrees that such covenant of continuous operation is a material inducement to Landlord entering into this Lease and that Landlord would not enter into this Lease without such inducement.
(b) Notwithstanding the foregoing, but without limiting any of Tenant’s other obligations hereunder, Tenant shall have the right, without being in breach of the covenant of continuous operation set forth in Section 7.4(a), beginning in the third (3rd) Lease Year of the Initial Term, to Go Dark at any Property (a “Go Dark Event” and any Property subject to a Go Dark Event, a “Go Dark Property”) subject to the following limitations: (i) Tenant shall provide Landlord (A) not less than thirty (30) days’ notice of such Go Dark Event, which Notice shall specify the date as of which Tenant intends to Go Dark at such Property and (B) simultaneously with such delivery, a copy of any notice of Tenant’s intention to Go Dark at such Property delivered by Tenant to the Counterparty under any applicable Property Document, (ii) such Go Dark Event shall not violate any applicable Property Requirements, (iii) Tenant shall continue to comply with all terms of this Lease applicable to such Property during such period (other than, for the application of this provision, the covenant of continuous operation as set forth in clause (a) of this Section 7.4), Tenant hereby agreeing that, except upon a removal of such Property from this Lease pursuant to Landlord’s exercise of a Landlord Option, there shall be no reduction or change in the Rent following any Go Dark Event, and (iv) such Go Dark Event shall not violate the applicable
Operating Covenant. The Company shall have, on each Dispenser Base Measurement Date occurring during the Operating Covenant Period, a Dispenser Base of at least seven thousand five hundred (7,500).
Operating Covenant. IGU will operate the Integrated Utility consistent with prudent utility practices and maintain IGU’s CPCN will be maintained in good standing, as it exists on the Effective Date or as it may be amended thereafter to incorporate FNG’s business or service territory. Among other things required by the preceding sentence, IGU will establish and execute policies to operate the Integrated Utility in an efficient manner and at a reasonable cost, to maintain, preserve, and keep the Project and all component parts of the Project in good repair, working order, and condition; and to, from time to time, make or cause to be made all necessary and proper repairs, renewals, and replacements so that the business carried on in connection with the Project will be conducted in a manner consistent with the operations of Investment Grade utilities.