Peel Properties' Obligations to Maintain and Operate Sample Clauses

Peel Properties' Obligations to Maintain and Operate. Peel Properties shall keep in good order, condition and repair the exterior and all structural portions of the Building, the plumbing, air conditioning, heating and electrical systems, the windows and floors on the Premises (excluding carpeting and other floor covering installed by Tenant or as part of the Tenant Improvements), and all Necessary Site Improvements and other Open Area Improvements, if any, made by Peel Properties, including parking areas and grounds of the site. Repairs shall be conducted to minimize interference with Tenant's business. Notwithstanding anything contained in this Paragraph 4.1 to the contrary, Peel Properties' obligations as set forth in this Paragraph 4.1 shall not include the repair of any damage to the Premises, Building, Necessary Site Improvements, Open Area and Open Area Improvements arising from any negligence of Tenant or Tenant's agents, contractors, employees, invitees or guests. In such event, Peel Properties shall have the right, but not the obligation, to make such repairs arising from such negligence of Tenant or Tenant's Agents, Contractors, Employees, invitees or guests and the reasonable cost of such repairs arising from such negligence of Tenant or Tenant's Agents, Contractors, Employees, invitees or guests and the reasonable cost of such repairs not reimbursed to Peel Properties by an insurance company covering such damage, in the sole discretion of Peel Properties, shall be either (a) paid to Peel Properties as Additional Rent or (b) paid by Tenant promptly after demand by Peel Properties with interest at the rate of twelve percent (12%) per annum from the later date of the date expended or the date Tenant receives notice from Peel Properties thereof, but in no event to exceed the maximum rate of interest permitted by law.
Sample 1
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Related to Peel Properties' Obligations to Maintain and Operate

  • Management and Operations of Business Except as otherwise expressly provided in this Agreement, all powers to control and manage the business and affairs of the Partnership shall be vested exclusively in the General Partner; the Limited Partner shall not have any power to control or manage the Partnership.

  • Management and Operations 15.1 The Operator shall prepare an annual work programme and budget for each Calendar Year during the term of this Agreement. Each such work programme and budget shall set out in reasonable details, the work to be carried out, facilities to be purchased or created, training and employment programme, establishment, salaries and wages, social welfare schemes to be undertaken, and an estimate of the Expenditure to be incurred. The Operator shall present such work programme and budget to the Government and the Working Interest Owners before the start of each Calendar Year and thereafter provide a quarterly update on the implementation of such work programme and budget.

  • Additional Conditions to Obligations of the Company The obligations of the Company to consummate the Merger and the transactions contemplated by this Agreement shall be subject to the satisfaction at or prior to the Closing of each of the following conditions, any of which may be waived, in writing, exclusively by the Company:

  • Additional Conditions to the Obligations of the Company The obligation of the Company to consummate and effect the Merger shall be subject to the satisfaction at or prior to the Closing Date of each of the following conditions, any of which may be waived, in writing, exclusively by the Company:

  • Management and Operation 6.01 Management of Partnership Affairs 16 6.02 Duties and Obligations of General Partner 17 6.03 Release and Indemnification 17 6.04 Power of Attorney 18

  • Management and Operation of Business 37 6.1 Management...................................................................................37 6.2 Certificate of Limited Partnership...........................................................38 6.3 Restrictions on General Partner's Authority..................................................38 6.4 Reimbursement of the General Partner.........................................................39 6.5

  • Additional Conditions to Obligations of Company The obligation of Company to consummate and effect the Merger shall be subject to the satisfaction at or prior to the Closing Date of each of the following conditions, any of which may be waived, in writing, exclusively by Company:

  • Failure to Maintain Financial Viability The System Agency may terminate the Contract if, in its sole discretion, the System Agency has a good faith belief that Grantee no longer maintains the financial viability required to complete the services and Deliverables, or otherwise fully perform its responsibilities under the Contract.

  • Conditions Precedent to Obligations of the Company The obligations of the Company to effect the Merger and otherwise consummate the transactions contemplated by this Agreement are subject to the satisfaction, at or prior to the Closing, of the following conditions:

  • Conditions to Obligations of the Company The Company’s obligation to sell and issue the Shares and the Warrants at the Closing is subject to the fulfillment to the satisfaction of the Company on or prior to the Closing Date of the following conditions, any of which may be waived by the Company:

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