Performance of Work. (i) The Borrowers shall complete all Work in a good and workmanlike manner as soon as practicable following the commencement thereof substantially in accordance with the applicable budget approved by Lender in accordance with the terms of this Loan Agreement. The insufficiency of the balance in the applicable Work Reserve shall not relieve the Borrowers from their obligations to perform and complete the related Work as herein provided or to fulfill all other preservation and maintenance covenants in the Loan Documents.
Appears in 12 contracts
Samples: Loan and Security Agreement (Lodgian Inc), Loan and Security Agreement (Lodgian Inc), Loan and Security Agreement (Lodgian Inc)
Performance of Work. (i) The Borrowers shall complete all Work in a good and workmanlike manner as soon as practicable following the commencement thereof substantially in accordance with the applicable budget approved by Lender in accordance with the terms of this Loan Agreementall Legal Requirements. The insufficiency of the balance in the applicable Work Replacement Reserve shall not relieve the Borrowers from their obligations its obligation to perform and complete the related Work as herein provided or to fulfill all other preservation and maintenance covenants in the Loan Documents.
Appears in 2 contracts
Samples: Loan and Security Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.), Loan and Security Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.)
Performance of Work. (i) The Borrowers Borrower shall complete all Work in a good and workmanlike manner as soon as practicable following the commencement thereof substantially in accordance with the applicable budget approved by Lender in accordance with the terms of this Loan Agreementall Legal Requirements. The insufficiency of the balance in the applicable Work Reserve shall not relieve the Borrowers Borrower from their obligations its obligation to perform and complete the related Work as herein provided or to fulfill all other preservation and maintenance covenants in the Loan Documents.
Appears in 1 contract
Samples: Loan and Security Agreement (Investors Real Estate Trust)
Performance of Work. (i) The Borrowers shall complete cause all Work to be performed in a good and workmanlike manner as soon as practicable following the commencement thereof substantially in accordance with the applicable budget approved by Lender in accordance with the terms of this Loan Agreementall Legal Requirements. The insufficiency of the balance in the applicable Work Reserve shall not relieve the Borrowers from their obligations obligation to perform and complete the related Work as herein provided or to fulfill all other preservation and maintenance covenants in the Loan Documents.
Appears in 1 contract
Samples: Loan and Security Agreement (Education Realty Trust, Inc.)
