Access and Inspection Rights. Lessor or its agents and Lessor Lender (or the agent for such Lessor Lender if requested in writing by Lessor) may, at their sole cost and expense, inspect the Leased Property during normal business hours at such locations where the same is located or kept in Lessee’s ordinary course of business, after not less than five (5) Business Days prior notice to Lessee; provided, however, neither Lessor, any Lessor Lender nor any agent for any Lessor Lender shall have any right to inspect any of the Leased Property without a representative of Lessee being present and Lessor and Lessor Lender (or its agent, if applicable) shall abide by Lessee’s reasonable rules and regulations (including those governing matters of health and safety) when making such inspections; provided, further, that, unless (i) Lessee’s interest under this Lease has been assigned to a Person that is not a Permitted Lessee Transferee, (ii) a Lessee Event of Default has occurred and is continuing (or Lesser has reason to believe that a Lessee Event of Default may have occurred and be continuing) or (iii) Lessee discontinues operations of the Leased Property, and excluding inspections made with respect to restorations following a casualty or condemnation as such inspections are permitted by and pursuant to Article XV or Article XVI, Lessor Lender (or the agent for such Lessor Lender if requested in writing by Lessor) may inspect the Leased Property no more frequently than once per calendar year and Lessor may inspect the Leased Property no more frequently than twice per calendar year. Lessee shall use commercially reasonable efforts to cause its representative to be present for Lessor’s inspection when notice is given as required by this subsection (a). In the event Lessee is unable to provide a representative of Lessee to be present for a Lessor or Lessor Lender inspection at any time during a thirty (30) consecutive day period, Lessee shall pay to Lessor a $10,000 penalty. Under no circumstances shall Lessor permit its inspection or any inspection by Lessor Lender (or the agent for such Lessor Lender if requested in writing by Lessor) to interfere with Lessee’s ordinary operation of the Leased Property or with Lessee’s business.
Appears in 4 contracts
Samples: Lease Agreement (Arc Logistics Partners LP), Lease Agreement (CorEnergy Infrastructure Trust, Inc.), Membership Interests Purchase Agreement (Arc Logistics Partners LP)
Access and Inspection Rights. Lessor or its agents Landlord and Lessor Landlord Lender (or the agent for such Lessor Lender if requested in writing by Lessor) may, at their sole cost and expense, inspect the Leased Property during normal business hours at such locations where the same is located or kept in LesseeTenant’s ordinary course of business, after not less than five (5) Business Days prior written notice to LesseeTenant; provided, however, neither Lessor, any Lessor Lender Landlord nor any agent for any Lessor Landlord Lender shall have any right to inspect any of the Leased Property without a representative of Lessee Tenant being present and Lessor Landlord and Lessor Landlord Lender (or its agent, if applicable) shall abide by LesseeTenant’s reasonable rules and regulations (rules, including those governing matters of health health, safety and safety) security, when making such inspections; provided, further, that, unless (i) LesseeTenant’s interest under this Lease has been assigned to a Person that is not a Permitted Lessee Transferee, Tenant Transferee or (ii) a Lessee Event of Level 1 Tenant Default has occurred and is continuing (or Lesser has reason to believe that a Lessee Event of Default may have occurred and be continuing) or (iii) Lessee discontinues operations of the Leased Property, and excluding inspections made with respect to restorations following a casualty or condemnation as such inspections are permitted by and pursuant to Article XV or Article XVI, Lessor Landlord Lender (or the agent for such Lessor Lender if requested in writing by Lessor) may inspect the Leased Property no more frequently than once per calendar year and Lessor may inspect the Leased Property no more frequently than twice per calendar year and Landlord may inspect the Leased Property no more frequently than four times per calendar year. Lessee Tenant shall use commercially reasonable efforts to cause its representative to be present for LessorLandlord’s inspection when notice is given as required by this subsection (a). In the event Lessee Tenant is unable to provide a representative of Lessee Tenant to be present for a Lessor Landlord or Lessor Landlord Lender inspection at any time during a thirty (30) consecutive day period, Lessee Tenant shall pay to Lessor Landlord a $10,000 penalty. Under no circumstances shall Lessor Landlord permit its inspection or any inspection by Lessor Landlord Lender (or the agent for such Lessor Lender if requested in writing by Lessor) to unreasonably interfere with LesseeTenant’s ordinary operation of the Leased Property or with LesseeTenant’s business. Under no circumstances may Landlord or Landlord Lender permit any Disqualified Persons to inspect the Leased Property; provided, however, that if Tenant has not elected to renew this Lease beyond the end of the Initial Term, then commencing the last day on which the Renewal Option may be exercised, Landlord may allow a potential purchaser or replacement tenant of all or any part of the Leased Property (including a Disqualified Person) to accompany it in an inspection conducted under this Section, provided, that (x) any such Person shall execute a confidentiality agreement containing the restrictions on disclosure herein set forth prior to any such inspection, and (y) such inspections shall occur no more often than two (2) times in each calendar month through the end of the Initial Term. For the avoidance of doubt, to the extent any inspection or access by Landlord or Landlord Lender of the Leased Premises requires access to any offshore platforms covered by the Multi-Platform Access Agreement, Landlord agrees, and shall cause each Landlord Lender to agree, that such access will be subject to the Multi-Platform Access Agreement. Landlord acknowledges and stipulates that Tenant may suffer irreparable harm in the event of a breach of the provisions of this Section 26.7(a) for which Tenant has no adequate remedy at law. Therefore, in addition to all other remedies available pursuant to the terms of this Lease or at law, Tenant shall have the right to obtain immediate injunctive or other equitable relief upon a breach of this Section 26.7(a).
Appears in 3 contracts
Samples: Purchase and Sale Agreement (Energy XXI LTD), Purchase and Sale Agreement (CorEnergy Infrastructure Trust, Inc.), Lease Agreement (CorEnergy Infrastructure Trust, Inc.)
Access and Inspection Rights. Lessor or its agents Landlord and Lessor Landlord Lender (or the agent for such Lessor Lender if requested in writing by Lessor) may, at their sole cost and expense, inspect the Leased Property during normal business hours at such locations where the same is located or kept in LesseeTenant’s ordinary course of business, after not less than five (5) Business Days prior written notice to LesseeTenant; providedprovided , howeverhowever , neither Lessor, any Lessor Lender Landlord nor any agent for any Lessor Landlord Lender shall have any right to inspect any of the Leased Property without a representative of Lessee Tenant being present and Lessor Landlord and Lessor Landlord Lender (or its agent, if applicable) shall abide by LesseeTenant’s reasonable rules and regulations (rules, including those governing matters of health health, safety and safety) security, when making such inspections; providedprovided , furtherfurther , that, unless (i) LesseeTenant’s interest under this Lease has been assigned to a Person that is not a Permitted Lessee Transferee, Tenant Transferee or (ii) a Lessee Event of Level 1 Tenant Default has occurred and is continuing (or Lesser has reason to believe that a Lessee Event of Default may have occurred and be continuing) or (iii) Lessee discontinues operations of the Leased Property, and excluding inspections made with respect to restorations following a casualty or condemnation as such inspections are permitted by and pursuant to Article XV or Article XVIXVI , Lessor Landlord Lender (or the agent for such Lessor Lender if requested in writing by Lessor) may inspect the Leased Property no more frequently than once per calendar year and Lessor may inspect the Leased Property no more frequently than twice per calendar year and Landlord may inspect the Leased Property no more frequently than four times per calendar year. Lessee Tenant shall use commercially reasonable efforts to cause its representative to be present for LessorLandlord’s inspection when notice is given as required by this subsection (a)) . In the event Lessee Tenant is unable to provide a representative of Lessee Tenant to be present for a Lessor Landlord or Lessor Landlord Lender inspection at any time during a thirty (30) consecutive day period, Lessee Tenant shall pay to Lessor Landlord a $10,000 penalty. Under no circumstances shall Lessor Landlord permit its inspection or any inspection by Lessor Landlord Lender (or the agent for such Lessor Lender if requested in writing by Lessor) to unreasonably interfere with LesseeTenant’s ordinary operation of the Leased Property or with LesseeTenant’s business. Under no circumstances may Landlord or Landlord Lender permit any Disqualified Persons to inspect the Leased Property; provided , however , that if Tenant has not elected to renew this Lease beyond the end of the Initial Term, then commencing the last day on which the Renewal Option may be exercised, Landlord may allow a potential purchaser or replacement tenant of all or any part of the Leased Property (including a Disqualified Person) to accompany it in an inspection conducted under this Section, provided , that (x) any such Person shall execute a confidentiality agreement containing the restrictions on disclosure herein set forth prior to any such inspection, and (y) such inspections shall occur no more often than two (2) times in each calendar month through the end of the Initial Term. For the avoidance of doubt, to the extent any inspection or access by Landlord or Landlord Lender of the Leased Premises requires access to any offshore platforms covered by the Multi-Platform Access Agreement, Landlord agrees, and shall cause each Landlord Lender to agree, that such access will be subject to the Multi-Platform Access Agreement. Landlord acknowledges and stipulates that Tenant may suffer irreparable harm in the event of a breach of the provisions of this Section 26.7(a) for which Tenant has no adequate remedy at law. Therefore, in addition to all other remedies available pursuant to the terms of this Lease or at law, Tenant shall have the right to obtain immediate injunctive or other equitable relief upon a breach of this Section 26.7(a) .
Appears in 1 contract
Samples: Lease Agreement (Energy XXI LTD)
Access and Inspection Rights. Lessor or its agents and Lessor Lender (or the agent Agent for such Lessor Lender if requested in writing by Lessor) may, at their sole cost and expense, inspect the Leased Property during normal business hours at such locations where the same is located or kept in Lessee’s ordinary course of business, after not less than five (5) Business Days prior notice to Lessee; provided, however, neither Lessor, any Lessor Lender nor any agent Agent for any Lessor Lender shall have any right to inspect any of the Leased Property without a representative of Lessee being present and Lessor and Lessor Lender (or its agentAgent, if applicable) shall abide by Lessee’s reasonable rules and regulations (including those governing matters of health and safety) when making such inspections; provided, further, that, unless (i) Lessee’s interest under this Lease has been assigned to a Person that is not a Permitted Lessee Transferee, Transferee or (ii) a Lessee Event of Default Lxxxx 0 Xxxxxx Xxxxxxx has occurred and is continuing (or Lesser has reason to believe that a Lessee Event of Default may have occurred and be continuing) or (iii) Lessee discontinues operations of the Leased Property, and excluding inspections made with respect to restorations following a casualty or condemnation as such inspections are permitted by and pursuant to Article XV or Article XVI, Lessor Lender (or the agent Agent for such Lessor Lender if requested in writing by Lessor) may inspect the Leased Property no more frequently than once per calendar year and Lessor may inspect the Leased Property no more frequently than twice per calendar year. Lessee shall use commercially reasonable efforts to cause its representative to be present for Lessor’s inspection when notice is given as required by this subsection (a). In the event Lessee is unable to provide a representative of Lessee to be present for a Lessor or Lessor Lender inspection at any time during a thirty (30) consecutive day period, Lessee shall pay to Lessor a $10,000 penalty. Under no circumstances shall Lessor permit its inspection or any inspection by Lessor Lender (or the agent Agent for such Lessor Lender if requested in writing by Lessor) to interfere with Lessee’s ordinary operation of the Leased Property or with Lessee’s business. Under no circumstances may Lessor or Lessor Lender permit any Disqualified Persons to inspect the Leased Property; provided, however, that if Lessee has not elected to renew this Lease beyond the Current Lease Term End, then commencing the last day on which the Renewal Option may be exercised, Lessor may allow a potential purchaser or replacement lessee of all or any part of the Leased Property (including a Disqualified Person) to accompany it in an inspection conducted under this Section, provided that any such Person shall execute a confidentiality agreement containing the restrictions on disclosure herein set forth prior to any such inspection. Lessor acknowledges and stipulates that Lessee may suffer irreparable harm in the event of a breach of the provisions of this Section 26.7(a) for which Lessee has no adequate remedy at law. Therefore, in addition to all other remedies available pursuant to the terms of this Lease or at law, Lessee shall have the right to obtain immediate injunctive or other equitable relief upon a breach of this Section 26.7(a).
Appears in 1 contract
Samples: Lease Agreement (CorEnergy Infrastructure Trust, Inc.)
Access and Inspection Rights. Lessor or its agents and Lessor Lender (or the agent Agent for such Lessor Lender if requested in writing by Lessor) may, at their sole cost and expense, inspect the Leased Property during normal business hours at such locations where the same is located or kept in Lessee’s ordinary course of business, after not less than five (5) Business Days prior notice to Lessee; provided, however, neither Lessor, any Lessor Lender nor any agent Agent for any Lessor Lender shall have any right to inspect any of the Leased Property without a representative of Lessee being present and Lessor and Lessor Lender (or its agentAgent, if applicable) shall abide by Lessee’s reasonable rules and regulations (including those governing matters of health and safety) when making such inspections; provided, further, that, unless (i) Lessee’s interest under this Lease has been assigned to a Person that is not a Permitted Lessee Transferee, Transferee or (ii) a Lessee Event of Default Xxxxx 0 Xxxxxx Xxxxxxx has occurred and is continuing (or Lesser has reason to believe that a Lessee Event of Default may have occurred and be continuing) or (iii) Lessee discontinues operations of the Leased Property, and excluding inspections made with respect to restorations following a casualty or condemnation as such inspections are permitted by and pursuant to Article XV or Article XVI, Lessor Lender (or the agent Agent for such Lessor Lender if requested in writing by Lessor) may inspect the Leased Property no more frequently than once per calendar year and Lessor may inspect the Leased Property no more frequently than twice per calendar year. Lessee shall use commercially reasonable efforts to cause its representative to be present for Lessor’s inspection when notice is given as required by this subsection (a). In the event Lessee is unable to provide a representative of Lessee to be present for a Lessor or Lessor Lender inspection at any time during a thirty (30) consecutive day period, Lessee shall pay to Lessor a $10,000 penalty. Under no circumstances shall Lessor permit its inspection or any inspection by Lessor Lender (or the agent Agent for such Lessor Lender if requested in writing by Lessor) to interfere with Lessee’s ordinary operation of the Leased Property or with Lessee’s business. Under no circumstances may Lessor or Lessor Lender permit any Disqualified Persons to inspect the Leased Property; provided, however, that if Lessee has not elected to renew this Lease beyond the Current Lease Term End, then commencing the last day on which the Renewal Option may be exercised, Lessor may allow a potential purchaser or replacement lessee of all or any part of the Leased Property (including a Disqualified Person) to accompany it in an inspection conducted under this Section, provided that any such Person shall execute a confidentiality agreement containing the restrictions on disclosure herein set forth prior to any such inspection. Lessor acknowledges and stipulates that Lessee may suffer irreparable harm in the event of a breach of the provisions of this Section 26.7(a) for which Lessee has no adequate remedy at law. Therefore, in addition to all other remedies available pursuant to the terms of this Lease or at law, Lessee shall have the right to obtain immediate injunctive or other equitable relief upon a breach of this Section 26.7(a).
Appears in 1 contract
Samples: Purchase and Sale Agreement (CorEnergy Infrastructure Trust, Inc.)