Alterations Subject to Lease. The following Alterations without further act shall be deemed to constitute a part of the Leased Property and be subject to this Lease: (a) Alterations that are in replacement of or in substitution for a portion of the Improvements; (b) Alterations that are required to be made pursuant to the terms of Section 9.1 or 9.2(a)(i) hereof; or (c) Alterations that are Non-severable or immovable. To the extent any Alterations are deemed to constitute part of the Leased Property pursuant to the preceding sentence, the Lessee hereby acknowledges and agrees that such Alterations will become upon installation property of the Lessor. The Lessee will, at the Lessor’s request, execute and deliver any documents reasonably necessary to evidence or cause the vesting of such interests in and to such Alterations to the Lessor. If such Alterations are not within any of the categories set forth in clauses (a) through (c) of this Section 9.3 and have not become property of the Lessor in accordance therewith, then such Alterations shall remain the sole property of the Lessee and such Alterations shall not be deemed to be Alterations which are part of the Leased Property. All such Alterations not constituting part of the Leased Property may, so long as no Event of Default is continuing, be removed at any time by the Lessee other than Alterations the removal of which would result in a violation of Applicable Laws. The Lessee shall at its expense prior to the Lease Expiration Date repair any damage to the Improvements or the Site caused by the removal of such Alterations. Lessor (or the purchaser of the Leased Property if the Lessee elects the Return Option or in connection with a sale pursuant to Section 18.1) may purchase from the Lessee any such Alterations (if not already owned by the Lessor) that the Lessee intends to remove from the Improvements or the Site prior to the Lease Expiration Date, which purchase shall be at the Fair Market Value of such Alterations as determined by the Appraiser at the time of such purchase.
Appears in 6 contracts
Samples: Lease Agreement (Lam Research Corp), Lease Agreement (Lam Research Corp), Lease Agreement (Lam Research Corp)
Alterations Subject to Lease. The following Alterations without further act shall be deemed to constitute a part of the Leased Property and be subject to this Lease:
(a) Alterations that are in replacement of or in substitution for a portion of the Improvements;
: (b) Alterations that are required to be made pursuant to the terms of Section 9.1 or 9.2(a)(i) hereof; or
or (c) Alterations that are Non-severable Severable or immovable. To the extent any Alterations are deemed to constitute part of the Leased Property pursuant to the preceding sentence, the Lessee hereby acknowledges and agrees that that, upon the Closing Date or their installation, as applicable, such Alterations will become upon installation property of the Lessor. The Lessee will, at the Lessor’s request, execute and deliver any documents reasonably necessary to evidence or cause the vesting of such interests in and to such Alterations to the Lessor. If such Alterations are not within any of the categories set forth in clauses (a) through (c) of this Section 9.3 and have not become property of the Lessor in accordance therewith, then such Alterations shall remain the sole property of the Lessee and such Alterations shall not be deemed to be Alterations which are part of the Leased Property. All such Alterations not constituting part of the Leased Property may, so long as no Event of Default is continuing, located or supported may be removed at any time by the Lessee Lessee, at the Lessee’s sole option and expense, other than Alterations Alterations, the removal of which would result in a violation of Applicable Laws. The Lessee shall at its expense prior to the Lease Expiration Date repair any damage to the Improvements or the Site Leased Property caused by the removal of such Alterations. The Lessor (or the purchaser of the Leased Property if the Lessee elects the Return Option or in connection with a sale pursuant to Section 18.1) may purchase from the Lessee any such Alterations (if not already owned by the Lessor) that the Lessee intends to remove from the Improvements or the Site Leased Property prior to the Lease Expiration Date, which purchase shall be at the Fair Market Value of such Alterations as determined by the Appraiser at the time of such purchase.
Appears in 1 contract
Samples: Lease Agreement (Big Lots Inc)
Alterations Subject to Lease. The following Alterations without further act shall be deemed to constitute a part of the Leased Property and be subject to this Lease:
(a) Alterations that are in replacement of or in substitution for a portion of the Improvements;:
(b) Alterations that are required to be made pursuant to the terms of Section 9.1 or 9.2(a)(i) hereof; or
(c) Alterations that are Non-severable Severable or immovable. To the extent any Alterations are deemed to constitute part of the Leased Property pursuant to the preceding sentence, the Lessee hereby acknowledges and agrees that that, upon the Closing Date or their installation, as applicable, such Alterations will become upon installation property of the Lessor. The Lessee will, at the Lessor’s request, execute and deliver any documents reasonably necessary to evidence or cause the vesting of such interests in and to such Alterations to the Lessor. If such Alterations are not within any of the categories set forth in clauses (a) through (c) of this Section 9.3 and have not become property of the Lessor in accordance therewith, then such Alterations shall remain the sole property of the Lessee and such Alterations shall not be deemed to be Alterations which are part of the Leased Property. All such Alterations not constituting part of the Leased Property may, so long as no Event of Default is continuing, located or supported may be removed at any time by the Lessee Lessee, at the Lessee’s sole option and expense, other than Alterations Alterations, the removal of which would result in a violation of Applicable Laws. The Lessee shall at its expense prior to the Lease Expiration Date repair any damage to the Improvements or the Site Leased Property caused by the removal of such Alterations. The Lessor (or the purchaser of the Leased Property if the Lessee elects the Return Option or in connection with a sale pursuant to Section 18.1) may purchase from the Lessee any such Alterations (if not already owned by the Lessor) that the Lessee intends to remove from the Improvements or the Site Leased Property prior to the Lease Expiration Date, which purchase shall be at the Fair Market Value of such Alterations as determined by the Appraiser at the time of such purchase.. BUSINESS.29631318.9
Appears in 1 contract
Samples: Lease Agreement (Big Lots Inc)
Alterations Subject to Lease. The following Alterations without further act shall be deemed to constitute a part of the Leased Property and be subject to this Lease::
(a) Alterations that are in replacement of or in substitution for a portion of the Improvements;Facility:
(b) Alterations that are required to be made pursuant to the terms of Section 9.1 or 9.2(a)(i) hereof; or
(c) Alterations that are Non-severable Severable or immovable. To the extent any Alterations are deemed to constitute part of the Leased Property pursuant to the preceding sentence, the Lessee hereby acknowledges and agrees that such Alterations will become upon installation property of the Lessor. The Lessee will, at the Lessor’s request, execute and deliver any documents reasonably necessary to evidence or cause the vesting of such interests in and to such Alterations to the Lessor. If such Alterations are not within any of the categories set forth in clauses (a) through (c) of this Section 9.3 and have not become property of the Lessor in accordance therewith, then such Alterations shall remain the sole property of the Lessee and such Alterations shall not be deemed to be Alterations which are part of the Leased Property. All such Alterations not constituting part of the Leased Property may, so long as no Material Default or Event of Default is continuing, be removed at any time by the Lessee other than Alterations the removal of which would result in a violation of Applicable LawsLaws and Regulations. The Lessee shall at its expense prior to the Lease Expiration Date repair any damage to the Improvements Leased Property or the Site caused by the removal of such Alterations. The Lessor (or the purchaser of the Leased Property if the Lessee elects the Return Option or in connection with a sale pursuant to Section 18.1) may purchase from the Lessee any such Alterations (if not already owned by the Lessor) that the Lessee intends to remove from the Improvements Leased Property or the Site prior to the Lease Expiration Date, which purchase shall be at the Fair Market Value of such Alterations as determined by the Appraiser or an appraiser reasonably selected by the Lessor at the time of such purchase.
Appears in 1 contract
Samples: Lease Agreement (Cubic Corp /De/)
Alterations Subject to Lease. The following Alterations without further act shall be deemed to constitute a part of the Leased Property and be subject to this Lease:
(a) Alterations that are in replacement of or in substitution for a portion of the Improvements;Facility:
(b) Alterations that are required to be made pursuant to the terms of Section 9.1 or 9.2(a)(i) hereof; or
(c) Alterations that are Non-severable Severable or immovable. To the extent any Alterations are deemed to constitute part of the Leased Property pursuant to the preceding sentence, the Lessee hereby acknowledges and agrees that such Alterations will become upon installation property of the Lessor. The Lessee will, at the Lessor’s request, execute and deliver any documents reasonably necessary to evidence or cause the vesting of such interests in and to such Alterations to the Lessor. If such Alterations are not within any of the categories set forth in clauses (a) through (c) of this Section 9.3 and have not become property of the Lessor in accordance therewith, then such Alterations shall remain the sole property of the Lessee and such Alterations shall not be deemed to be Alterations which are part of the Leased Property. All such Alterations not constituting part of the Leased Property may, so long as no Material Default or Event of Default is continuing, be removed at any time by the Lessee other than Alterations the removal of which would result in a violation of Applicable LawsLaws and Regulations. The Lessee shall at its expense prior to the Lease Expiration Date repair any damage to the Improvements Leased Property or the Site caused by the removal of such Alterations. The Lessor (or the purchaser of the Leased Property if the Lessee elects the Return Option or in connection with a sale pursuant to Section 18.1) may purchase from the Lessee any such Alterations (if not already owned by the Lessor) that the Lessee intends to remove from the Improvements Leased Property or the Site prior to the Lease Expiration Date, which purchase shall be at the Fair Market Value of such Alterations as determined by the Appraiser or an appraiser reasonably selected by the Lessor at the time of such purchase.
Appears in 1 contract
Samples: Lease Agreement (Cubic Corp /De/)