Additional Covenants of Lessee. Lessee covenants and agrees that:
Additional Covenants of Lessee. The Lessee covenants at its expense, at all times during the term of this Lease, as follows:
A. The Lessee shall make all repairs, alterations, additions, or replacements to the Leased Premises required by any law or ordinance or any order or regulations of any public authority because of Lessee's use thereof and not required to be made by lessor hereunder; to keep the Leased Premises equipped with all safety appliances so required for any such use; and to comply with the orders and regulations of all governmental authorities.
B. Any alterations and changes in the Leased Premises made by the Lessee shall not injure the safety of the structure thereof nor diminish its value, and such work shall be done in a good and workmanlike manner, employing materials of good quality and complying with all governmental requirements, including the obtaining of any licenses or permits for the making of such alterations, changes or installations and in connection therewith the Lessee agrees to save the Lessor harmless and indemnified from all injury, loss, claims or damages to any person or property occasioned by or growing out of such work and the Lessee agrees to pay promptly when due the entire cost of any work to the Leased Premises so that said property shall at all times be free of liens for labor and materials and to discharge any such lien forthwith upon request by bonding, payment or otherwise.
C. The Lessee shall comply with all applicable building, zoning and land use, environmental protection, hazardous waste, sanitary and safety laws, rules and regulations, including but not limited to Chapter 21E: will not permit or commit waste on the Leased Premises or any nuisance thereon: and will not use or occupy the Leased Premises in any manner which makes cancelable any insurance then in force.
D. The Lessee shall at its sole cost, maintain and repair the Leased Premises in accordance with Article 11 of this Lease and keep the same in good and serviceable condition and in at least as good condition and repair (reasonable wear and tear and casualty loss excepted) as it was on the date this Lease was actually executed or date of occupancy, whichever occurs later, with respect to each portion of the Leased Premises. It is the understanding of the parties that it is the Lessor's responsibility to maintain the exterior of the Leased Premises, the roof, the plumbing, air conditioning in the office areas and heating systems, the sprinkler system, and structural systems, as ...
Additional Covenants of Lessee. Beginning on the Occupancy Date and throughout the remainder of the Lease Term, Lessee covenants and agrees that:
Additional Covenants of Lessee. 1. Lessee shall not commit or suffer to be committed any waste upon the Leased Premises or any nuisance or other act or thing which may disturb the quiet enjoyment of any other lessee in the Industrial Facility.
2. Lessor or Lessor's agent shall have the right to enter the Leased Premises at all reasonable times during business hours upon reasonable notice to Lessee to examine the same, and to show them to prospective purchasers or mortgagees of the Industrial Facility, and to make such repairs, alterations, improvements or additions as Lessor may deem necessary or desirable, and Lessor shall be allowed to take all material into and upon said premises that may be required therefor without the same constituting an eviction of Lessee in whole or in part, provided that there is no substantial interference with Lessee's right of quiet enjoyment, and the rent reserved shall not xxxxx while said repairs, alterations, improvements or additions are being made. It is understood that Lessor will act in a reasonable manner in effecting such repairs, etc., and if the same affect only Lessee, will discontinue the same at Lessee's written request however, if failure to promptly effect such repairs, etc. will have a deleterious effect on the building or other tenants, then the same will continue in all events. During the six months prior to the expiration of the term of this Lease or any renewal term, Lessor may exhibit the premises to prospective tenants and place upon the premises the usual notices "To Let" or "For Rent", which notices Lessee shall permit to remain thereon without molestation.
Additional Covenants of Lessee. Lessee covenants and agrees to the following:
a. Lessee is, and shall remain so long as it shall be the Lessee under this Lease, a "citizen of the United States" as defined by 49 USC ss. 40102(a)(15), and Lessee is and shall maintain and operate the Aircraft at all times as a Certificated Air Carrier;
b. Lessee will not, without prior written notice to Lessor, change its principal place of business or chief executive office if there is more than one place of business and will maintain all records with respect to the Aircraft and the Engines at its principal place of business;
c. Lessee shall not (i) voluntarily suspend its operations as a Certificated Air Carrier; or (ii) voluntarily or involuntarily permit to be revoked, canceled or otherwise terminated all or substantially all of the franchises, concessions, permits, rights or privileges required for the conduct of business and operations of Lessee or the free and continued use and exercise thereof;
d. Lessee specifically covenants that during the Term hereof it will not operate the Aircraft to any location where such operation is prohibited by applicable law, rule or regulation.
e. Lessee shall pay or cause to be paid promptly when due all en route navigation charges, navigation service charges (including to the extent applicable Eurocontrol charges) and all other charges payable in respect of the use of the Aircraft or for services provided at any airport in respect of the Aircraft. Lessee agrees to indemnify and hold the Lessor harmless in respect of all such charges in respect of the Aircraft. This indemnity shall continue in full force and effect notwithstanding the termination or expiration of the Term for any reason whatsoever or the return of the Aircraft but only with respect to acts or events occurring on or prior to such termination, expiration or return. Upon request of Lessor, Lessee shall provide Lessor with a letter addressed to Eurocontrol or any other relevant air traffic control authority pursuant to which Lessee authorizes the addressee to issue to Lessor a statement of account of all sums due by Lessee to the authority in respect of the operation of the Aircraft (and other aircraft owned or operated by Lessee).
f. Lessee shall not become a "tax exempt entity" as defined in Section 168(h) of the Internal Revenue Code.
g. Lessee shall not permit the predominant use of the Aircraft to be outside the United States within the meaning of Section 168(g) of the Internal Revenue Code prior to ...
Additional Covenants of Lessee. (a) Lessee will at all times maintain Minimum Tangible Net Worth of at least $7,000,000. For purposes hereof, the term "Minimum Tangible Net Worth" shall mean Lessee's total shareholder's equity as shown on Lessee's regular financial statements prepared in a manner consistent with the terms hereof, less the net balance of goodwill or other intangible assets.
Additional Covenants of Lessee. In addition to any and all other covenants contained in this Lease and any Schedules, the Lessee, during the Lease Term, agrees and covenants with Lessor as follows: Lessee shall maintain a (i) minimum debt to worth ratio of not less than 2.0 to 1.0 and (ii) current ratio of not less than 1.10 to 1.0, each measured based upon Lessee's quarterly financial statements to be delivered by Lessee to Lessor beginning with the quarterly period ending June 30, 2000. All computations made to determine compliance with the requirements contained in this Paragraph shall be made in accordance with generally accepted accounting principles, applied on a consistent basis, and certified by Lessee as being true and correct. For purposes of this Paragraph, the debt to worth ratio shall mean the ratio of Lessee's Total Liabilities to Tangible Net Worth and the current ratio shall mean the Lessee's current assets to current liabilities. Additionally, "Tangible Net Worth" means Lessee's total assets excluding all intangible assets (i.e., goodwill, trade marks, patents, copyrights, organizational expenses, and similar intangible items, but including leaseholds and leasehold improvements) less total Debt; "Debt" means all of Lessee's liabilities excluding Subordinated Debt; "Subordinated Debt" means indebtedness and liabilities of Lessee which have been subordinated by written agreement to indebtedness owed by Lessee to Lessor in form and substance acceptable to Lessor. Any other financial or accounting terms used herein but not otherwise defined shall have the meanings ascribed to such terms under generally accepted accounting principles.
Additional Covenants of Lessee. In addition to covenants hereinabove set forth, Lessee covenants as follows:
A. To have aboard the boat as permanent equipment at all times a bilge pump and battery switch in good working order.
B. To maintain adequate mooring lines at all times.
C. To maintain one set of keys for each boat in the Yacht Club Office or in boat
D. To remove the boat from the Yacht Club upon notice in the event of an emergency. Upon failure to do so, Yacht Club is authorized to act for Lessee at Lessee ‘s expense and risk
E. To comply with all the terms of this Agreement, all Rules and Regulations issued under separate cover, and all rules posted at the Yacht Club Office.
Additional Covenants of Lessee. 50 Section 20.1 Conduct of Business...........................50 Section 20.2 Maintenance of Accounts and Records...........50 Section 20.3 Distributions, Payments to Affiliates, Etc....51 Section 20.4 Compliance with Operating Agreement...........51 20.4.1 Material Terms of the Operating Agreement...................51 20.4.2 Subordination of Operating Agreement..51
Additional Covenants of Lessee. (a) In conformity with Section 7 hereof and except as otherwise provided in Section 5 hereof or with respect to indebtedness owing front Lessor to Lessee, Lessee hereby assumes the due and punctual payment according to their tenor and purport of the principal of, premium, if any, interest on and all other sums payable pursuant to or in respect of:
(1) The First Mortgage Bonds of Lessor issued under its First Mortgage dated March 1, 1954, as presently in effect.
(2) All equipment obligations issued or guaranteed by Lessor, including all conditional sales agreements and equipment trusts.
(3) The Guaranteed Collateral Trust Notes, including the Consolidated Note, issued or to be issued by Lessor under and pursuant to the Collateral Trust Agreement dated as of June 1, 1961, between Lessor and Pittsburgh National Bank, Trustee.
(4) All other indebtedness issued or guaranteed by Lessor.
(5) All obligations of Lessor to make advances to a debtor or debtors in order to provide the latter with funds with which to pay the principal of, premium, if any, or interest on indebtedness. Lessee also assumes the due and punctual payment or perform ante of all the obligations, covenants, terms and conditions of Lessor contained in any indenture or agreement, or supplement to or amendment thereof, pursuant to which the foregoing obligations were issued or incurred by Lessor or guaranteed by the United States of America or any other person and without regard, in the case of the First Mortgage of Lessor, to any limitations therein contained relating to income of Lessor. Lessee further agrees that its rights under this Lease and in the demised property shall be and remain under and subject to all liens, powers, rights and privileges of any creditor of Lessor, bondholder, trustee or guarantor under any mortgage, contract or equipment obligation of Lessor. In addition to and not in limitation of the foregoing, Lessee will (i) on or before March 1 of the calendar year next succeeding the commencement date of this Lease advance or cause to be advanced to Lessor for payment to the Trustee of Lessor's First Mortgage a sum equal to the amount by which payments to the Sinking Fund in pre-equal years shall have aggregated less than the maximum amounts payable under Article Five of said First Mortgage, and will on or before each March 1 thereafter make or cause to be made such advances to Lessor for payment to the Trustee of such maximum Sinking Fund requirements annually, to the end that...
