Operating Covenant a. The Tenant shall not abandon or leave vacant the unit 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.
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.
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. For a period of twenty years commencing on the ------------------- Closing Date, Purchaser shall keep the Park open for business at least ninety (90) days each year and shall keep the Park open for at least six (6) continuous hours on each of those ninety (90) days. Notwithstanding the foregoing or anything to the contrary elsewhere herein, this covenant shall not be deemed to be breached by a temporary closing of the Park arising out of Force Majeure, during the pendency of such Force Majeure. Purchaser agrees that if Purchaser fails to keep the Park open for the required time periods, Seller shall have the right on five days notice to require the conveyance of the Park to Seller, or any third party designated by Seller by special warranty deed (subject only to the Permitted Exceptions (except for Purchaser Exceptions that are not Purchaser Permitted Exceptions) one hundred eighty (180) days after the exercise of this right. Seller shall have the right to require an appraisal of the Park to be conducted in accordance with Schedule 15.02 to obtain the "Appraised Price". Seller may then purchase the Park for the greater of the Appraised Price or Purchaser's depreciated GAAP basis in the Park (the "Reconveyance Price"). If Seller elects not to purchase the Park at such price, Seller may require reconveyance of the Park subject to Purchaser's rights of removal set forth below, by paying a price of Twenty-Two Million Five Hundred Thousand Dollars ($22,500,000.00) to Purchaser (the "Alternate Reconveyance Price"). If Seller elects to purchase the Park for the Alternate Reconveyance Price, Purchaser may remove any Improvements (other than buildings), Personalty, Books and Records and Contracts thereon, provided Purchaser reasonably remediates the damage caused to the Land and buildings thereon by such removal. Any such removal and remediation shall be completed within one hundred eight (180) days after Seller delivers written notice of its election to purchase the Park for the Alternate Reconveyance Price. Upon any reconveyance pursuant to this Article XV, Seller shall pay to Purchaser the Reconveyance Price or Alternate Reconveyance Price in funds immediately available in Bexar County, Texas except that in the event of a reconveyance for the Alternate Reconveyance Price, such amount will not be due or paid to, Purchaser, until the time allowed hereunder for Purchaser to complete the removal has expired and any required remediation of the Land and buildings has ...
Operating Covenant. Tenant shall manage and operate the Premises, or cause them to be managed and operated, as a liquid bulk storage, handling and transport facility, in a manner consistent with the manner and standard by which comparable facilities are managed and operated, and shall perform maintenance and capital improvements necessary to maintain the Premises in a manner comparable to that in which comparable facilities are maintained. Tenant shall operate the facilities in a commercially reasonable manner, and in accordance therewith, shall conduct its operations with commercially reasonable frequency.
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.
Operating Covenant. Licensee is hereby granted a license to use the Unit within the Premises on an exclusive basis and shall have access thereto twenty-four (24) hours a day, seven (7) days a week. Licensor shall provide office cleaning services, heating and air-conditioning to the Premises, Monday through Friday, 9:00 am to 6:00 pm, except on public holidays. In addition, Licensee will have use of the common area of the Premises facilities on a non-exclusive basis in accordance with the rules and regulations promulgated with respect thereto. It is understood and agreed that the Licensee shall use the office and common area of the Premises solely for general office use in the conduct of the Licensees business and for no other purpose. Licensee agrees not to engage in any conduct or to allow or permit any of its employees, invitees, visitors or guests to engage in any conduct, which may disturb or annoy any other occupants at the Location or which, in the opinion of Licensor, is objectionable or undesirable. IN THE ABSENCE OF WILLFUL MISCONDUCT, THE LICENSEE EXPRESSLY AGREES TO WAIVE, AND AGREES NOT TO MAKE ANY CLAIM FOR DAMAGES, DIRECT OR CONSEQUENTIAL, ARISING OUT OF ANY FAILURE TO FURNISH ANY UTILITY, SERVICE OR FACILITY, ANY ERROR OR OMISSION WITH RESPECT THERETO, OR ANY DELAY OR INTERRUPTION OF THE SAME.
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. The Stockholder covenants and agrees that it will use its best efforts to cause the Company to operate its business in the ordinary course from the date hereof through the earlier of termination of this Agreement in accordance with its terms or completion of the Offer.
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.
