Condition of Property; Maintenance. Tenant hereby accepts the Properties “AS IS” and “WHERE IS” with no representation or warranty of Landlord as to the condition thereof. Tenant shall, at its sole cost and expense, be responsible for (a) keeping all of the building, structures and improvements erected on each of the Properties in good order and repair (ordinary wear and tear excepted), free from actual or constructive waste, including without limitation, the roof and the HVAC and other electrical and mechanical systems and plumbing systems; (b) the repair or reconstruction of any building, structures or improvements erected on the Properties damaged or destroyed by a Casualty or affected by a Condemnation to the extent required by Article XI; (c) subject to Section 7.02, making all necessary structural, non-structural, exterior and interior repairs and replacements to any building, structures or improvements on the Properties; (d) paying all operating costs of the Properties; and (e) making all structural, non-structural, exterior and interior repairs and replacements required to keep the Properties in compliance with Legal Requirements. Tenant waives any right to require Landlord to maintain, repair or rebuild all or any part of the Properties or make repairs at the expense of Landlord pursuant to any Legal Requirements at any time in effect. During the Lease Term, Tenant shall keep and maintain at all times reasonably complete and accurate (consistent with past practices of Tenant) books and records regarding the maintenance and repair of the Properties, and upon the written request of Landlord not to be made more than one time in any twelve month period, Tenant shall furnish to Landlord, within thirty (30) days of such request, copies of all maintenance and repair records for the Properties in Tenant’s possession, including any maintenance or service contracts; provided that Tenant will not be required to furnish duplicate copies of information previously furnished to Landlord.
Appears in 2 contracts
Samples: Master Lease Agreement (Bob Evans Farms Inc), Master Lease Agreement (Bob Evans Farms Inc)
Condition of Property; Maintenance. Tenant hereby accepts (a) As of the Properties Occupancy Date, Lessee shall be deemed to have accepted the Property “AS IS” and “WHERE IS” with no representation or warranty of Landlord Lessor as to the condition thereof. Tenant Following the Occupancy Date, unless necessitated by Lessor’s gross negligence or willful misconduct, Lessee shall, at its sole cost and expense, be responsible for (ai) keeping all of the building, structures and improvements erected on each of the Properties Property in good order and repair (ordinary wear and tear excepted)repair, free from actual or constructive waste, including without limitation, the roof and the HVAC and other electrical and mechanical systems and plumbing systems; (bii) the repair or reconstruction of any building, structures or improvements erected on the Properties Property damaged or destroyed by a Casualty or affected by a Condemnation to the extent required by Article XICasualty; (ciii) subject to Section 7.02, making all necessary structural, non-structural, exterior and interior repairs and replacements to any building, structures or improvements erected on the PropertiesProperty; (div) operating, remodeling, updating and modernizing the Property in accordance with those standards adopted from time to time on a system‑wide basis for the Permitted Facility; (v)
(A) ensuring that no party encroaches upon the Property, (B) protecting, defending (using counsel chosen by Lessee and approved by Lessor), indemnifying, releasing and holding the Indemnified Parties harmless from and against any and all claims and Losses arising out of or in any way relating to any encroachments and/or activities upon the Property caused by any Person; and (C) prosecuting any claims that Lessee seeks to bring against any Person relating to Lessee’s use and possession of the Property; and (vi) paying all operating costs of the Properties; and (e) making all structuralProperty in the ordinary course of business. Following the Occupancy Date, non-structural, exterior and interior repairs and replacements required to keep the Properties in compliance with Legal Requirements. Tenant Lessee waives any right to require Landlord Lessor to maintain, repair or rebuild all or any part of the Properties Property or make repairs at the expense of Landlord Lessor pursuant to any Legal Requirements at any time in effect. During , unless such maintenance, repair, or rebuilding is necessitated by Lessor’s gross negligence or willful misconduct.
(b) Notwithstanding anything set forth in Section 7.01(a) above, Lessor shall pay the cost of any Required Capital Improvement during the last five (5) years of the Lease TermTerm in excess of $50,000 cumulative on an annual basis (“Expenditure Cap”) up to the actual cost of such Required Capital Improvement (“Lessor Expenditure”). Lessee shall reimburse Lessor such Lessor Expenditure through an increase in Base Annual Rental in an annual amount equal to the Lessor Expenditure divided by the Useful Life (as determined in Lessor’s reasonable discretion) of such Required Capital Improvement. By way of example, Tenant if a roof replacement costs $200,000 and has a Useful Life of 20 years, Lessee shall keep and maintain at all times reasonably complete and accurate reimburse Lessor through an increase in Base Annual Rental equal to $7,500 per year (consistent with past practices 1/20 x $150,000). For purposes of Tenant) books and records regarding this paragraph, a “Required Capital Improvement” shall mean a permanent structural change to the maintenance and repair Property or the restoration of some aspect of the Properties, Property that will either enhance the Property’s overall value or 4837-1132-0135.14 STORE / RT Logic (Kratos) Lease Agreement (New Building Area) File No.: 7210/02-525.1 increase its useful life and upon the written request of Landlord not that is required to be made more than one time completed by Lessee to remain in any twelve month periodcompliance with Section 7.01(a), Tenant shall furnish to Landlord, within thirty (30) days of such request, copies of all maintenance as reasonably determined and repair records for the Properties in Tenant’s possession, including any maintenance or service contracts; provided that Tenant will not be required to furnish duplicate copies of information previously furnished to Landlordagreed upon by Lessee and Lessor.
Appears in 1 contract
Samples: Lease Agreement (Kratos Defense & Security Solutions, Inc.)
Condition of Property; Maintenance. Tenant hereby accepts the Properties Property “AS IS” and “WHERE IS” with no representation or warranty of Landlord as to the condition thereof. Tenant shall, at its sole cost and expense, be responsible for (a) keeping all of the building, structures and improvements (including all components and systems thereof or contained therein, including parking areas and HVAC and other utility systems and equipment) erected on each of the Properties Property in good order and repair (ordinary wear and tear excepted)consistent with good commercial real estate management practices for comparable commercial properties in the State of Minnesota, free from actual or constructive waste, including without limitation, the roof and the HVAC and other electrical and mechanical systems and plumbing systems; (b) the repair or reconstruction of any building, structures or improvements erected on the Properties Property damaged or destroyed by a Casualty or affected by a Condemnation to the extent required by Article XICasualty; (c) subject to Section 7.02, making all necessary structural, non-structural, exterior and interior repairs and replacements to any building, structures or improvements (including all components and systems thereof or contained therein, including parking areas and HVAC and other utility systems and equipment) erected on the PropertiesProperty including any required improvements of the industrial park in which the Property is located; (d) operating, remodeling, updating and modernizing, as reasonably necessary, the Property for use permitted under Section 8.01; (e) (i) protecting, defending, indemnifying, releasing and holding the Landlord harmless (and Tenant hereby agrees to so protect, defend, indemnify, release and hold the Landlord harmless) from and against any and all claims and Losses arising out of or in any way relating to any future encroachments and/or activities upon any Property caused by any Person; and (ii) prosecuting any claims that Tenant seeks to bring against any Person relating to Tenant’s use and possession of any Property; and (f) paying all operating costs of the Properties; and (e) making all structural, non-structural, exterior and interior repairs and replacements required to keep Property in the Properties in compliance with Legal Requirementsordinary course of business. Tenant waives any right to require Landlord to maintain, repair or rebuild all or any part of the Properties Property or make repairs at the expense of Landlord pursuant to any Legal Requirements at any time in effect. During Tenant shall pay the Lease Term, cost of all capital improvements. Tenant shall keep and maintain at all times reasonably complete records, including, work orders, service contracts, maintenance reports, inspections, health and accurate (consistent with past practices safety compliance audits or reports, of or pertaining to the Property and/or Tenant) books ’s performance of its obligations pursuant to this Lease, including Articles VII or VIII, and shall promptly provide copies to Landlord of all or any such documents and records regarding the maintenance and repair of the Propertiesas Landlord may request from time to time, and upon the written request of Landlord not to be made more than one time in any twelve month period, Tenant shall furnish to Landlord, within thirty (30) days of such request, copies of all maintenance and repair records for the Properties in Tenant’s possession, including any maintenance or service contracts; provided that Tenant will shall not be required responsible to furnish duplicate copies of information previously furnished provide to LandlordLandlord any such documents relating to Tenant's compliance with ITAR or any documents specific to any customer inspection, audit or review.
Appears in 1 contract
Condition of Property; Maintenance. Tenant (a) Lessee hereby accepts the Properties Property “AS IS” and “WHERE IS” with no representation or warranty of Landlord Lessor as to the condition thereof. Tenant Unless necessitated by Lessor’s gross negligence or willful misconduct, Lessee shall, at its sole cost and expense, be responsible for (ai) keeping all of the building, structures and improvements erected on each of the Properties Property in good order and repair (ordinary wear and tear excepted)repair, free from actual or constructive waste, including without limitation, the roof and the HVAC and other electrical and mechanical systems and plumbing systems; (bii) the repair or reconstruction of any building, structures or improvements erected on the Properties Property damaged or destroyed by a Casualty or affected by a Condemnation to the extent required by Article XICasualty; (ciii) subject to Section 7.02, making all necessary structural, non-structural, exterior and interior repairs and replacements to any building, structures or improvements erected on the PropertiesProperty; (div) operating, remodeling, updating and modernizing the Property in accordance with those standards adopted from time to time on a system-wide basis for the Permitted Facility; (v)
(A) ensuring that no party encroaches upon the Property, (B) protecting, defending (using counsel chosen by Lessee and approved by Lessor), indemnifying, releasing and holding the Indemnified Parties harmless from and against any and all claims and Losses arising out of or in any way relating to any encroachments and/or activities upon the Property caused by any Person; and (C) prosecuting any claims that Lessee seeks to bring against any Person relating to Lessee’s use and possession of the Property; and (vi) paying all operating costs of the Properties; and (e) making all structural, non-structural, exterior and interior repairs and replacements required to keep Property in the Properties in compliance with Legal Requirementsordinary course of business. Tenant Lessee waives any right to require Landlord Lessor to maintain, repair or rebuild all or any part of the Properties Property or make repairs at the expense of Landlord Lessor pursuant to any Legal Requirements at any time in effect. During , unless such maintenance, repair, or rebuilding is necessitated by Lessor’s gross negligence or willful misconduct.
(b) Notwithstanding anything set forth in Section 7.01(a) above, Lessor shall pay the cost of any Required Capital Improvement during the last five (5) years of the Lease TermTerm in excess of $50,000 cumulative on an annual basis (“Expenditure Cap”) up to the actual cost of such Required Capital Improvement (“Lessor Expenditure”). Lessee shall reimburse Lessor such Lessor Expenditure through an increase in Base Annual Rental in an annual amount equal to the Lessor Expenditure divided by the Useful Life (as determined in Lessor’s reasonable discretion) of such Required Capital Improvement. By way of example, Tenant if a roof replacement costs $200,000 and has a Useful Life of 20 years, Lessee shall keep and maintain at all times reasonably complete and accurate reimburse Lessor through an increase in Base Annual Rental equal to $7,500 per year (consistent with past practices 1/20 x $150,000). For purposes of Tenant) books and records regarding this paragraph, a “Required Capital Improvement” shall mean a permanent structural change to the maintenance and repair Property or the restoration of some aspect of the Properties, Property that will either enhance the Property’s overall value or increase its useful life and upon the written request of Landlord not that is required to be made more than one time completed by Lessee to remain in any twelve month periodcompliance with Section 7.01(a), Tenant shall furnish to Landlord, within thirty (30) days of such request, copies of all maintenance as reasonably determined and repair records for the Properties in Tenant’s possession, including any maintenance or service contracts; provided that Tenant will not be required to furnish duplicate copies of information previously furnished to Landlordagreed upon by Lessee and Lessor.
Appears in 1 contract
Samples: Lease Agreement (Kratos Defense & Security Solutions, Inc.)
Condition of Property; Maintenance. Tenant (a) Lessee hereby accepts the Properties Property “AS IS” and “WHERE IS” with no representation or warranty of Landlord Lessor as to the condition thereof. Tenant Unless necessitated by Lessor’s gross negligence or willful misconduct, Lessee shall, at its sole cost and expense, be responsible for (ai) keeping all of the building, structures and improvements erected on each of the Properties Property in good order and repair (ordinary wear and tear excepted)repair, free from actual or constructive waste, including without limitation, the roof and the HVAC and other electrical and mechanical systems and plumbing systems; (bii) the repair or reconstruction of any building, structures or improvements erected on the Properties Property damaged or destroyed by a Casualty or affected by a Condemnation to the extent required by Article XICasualty; (ciii) subject to Section 7.02, making all necessary structural, non-structural, exterior and interior repairs and replacements to any building, structures or improvements erected on the PropertiesProperty; (div) operating, remodeling, updating and modernizing the Property in accordance with those standards adopted from time to time on a system‑wide basis for the Permitted Facility; (v)
(A) ensuring that no party encroaches upon the Property, (B) protecting, defending (using counsel chosen by Lessee and approved by Lessor), indemnifying, releasing and holding the Indemnified Parties harmless from and against any and all claims and Losses arising out of or in any way relating to any encroachments and/or activities upon the Property caused by any Person; and (C) prosecuting any claims that Lessee seeks to bring against any Person relating to Lessee’s use and possession of the Property; and (vi) paying all operating costs of the Properties; and (e) making all structural, non-structural, exterior and interior repairs and replacements required to keep Property in the Properties in compliance with Legal Requirementsordinary course of business. Tenant Lessee waives any right to require Landlord Lessor to maintain, repair or rebuild all or any part of the Properties Property or make repairs at the expense of Landlord Lessor pursuant to any Legal Requirements at any time in effect. During , unless such maintenance, repair, or rebuilding is necessitated by Lessor’s gross negligence or willful misconduct.
(b) Notwithstanding anything set forth in Section 7.01(a) above, Lessor shall pay the cost of any Required Capital Improvement during the last five (5) years of the Lease TermTerm in excess of $50,000 cumulative on an annual basis (“Expenditure Cap”) up to the actual cost of such Required Capital Improvement (“Lessor Expenditure”). Lessee shall reimburse Lessor such Lessor Expenditure through an increase in Base Annual Rental in an annual amount equal to the Lessor Expenditure divided by the Useful Life (as determined in Lessor’s reasonable discretion) of such Required Capital Improvement. By way of example, Tenant if a roof replacement costs $200,000 and has a Useful Life of 20 years, Lessee shall keep and maintain at all times reasonably complete and accurate reimburse Lessor through an increase in Base Annual Rental equal to $7,500 per year (consistent with past practices 1/20 x $150,000). For purposes of Tenant) books and records regarding this paragraph, a “Required Capital Improvement” shall mean a permanent structural change to the maintenance and repair Property or the restoration of some aspect of the Properties, Property that will either enhance the Property’s overall value or increase its useful life and upon the written request of Landlord not that is required to be made more than one time completed by Lessee to remain in any twelve month periodcompliance with Section 7.01(a), Tenant shall furnish to Landlord, within thirty (30) days of such request, copies of all maintenance as reasonably determined and repair records for the Properties in Tenant’s possession, including any maintenance or service contracts; provided that Tenant will not be required to furnish duplicate copies of information previously furnished to Landlordagreed upon by Lessee and Lessor.
Appears in 1 contract
Samples: Lease Agreement (Kratos Defense & Security Solutions, Inc.)
Condition of Property; Maintenance. Tenant (a) Lessee hereby accepts the Properties Property “AS IS” and “WHERE IS” with no representation or warranty of Landlord Lessor as to the condition thereof. Tenant Unless necessitated by Lessor’s gross negligence or willful misconduct, Lessee shall, at its sole cost and expense, be responsible for (ai) keeping all of the building, structures and improvements erected on each of the Properties Property in good order and repair (ordinary wear and tear excepted)repair, free from actual or constructive waste, including without limitation, the roof and the HVAC and other electrical and mechanical systems and plumbing systems; (bii) the repair or reconstruction of any building, structures or improvements erected on the Properties Property damaged or destroyed by a Casualty or affected by a Condemnation to the extent required by Article XICasualty; (ciii) subject to Section 7.02, making all necessary structural, non-structural, exterior and interior repairs and replacements to any building, structures or improvements erected on the PropertiesProperty; (div) operating, remodeling, updating and modernizing the Property in accordance with those standards adopted from time to time on a system-wide basis for the Permitted Facility; (A) ensuring that no party encroaches upon the Property, (B) protecting, defending (using counsel chosen by Lessee and approved by Lessor), indemnifying, releasing and holding the Indemnified Parties harmless from and against any and all claims and Losses arising out of or in any way relating to any encroachments and/or activities upon the Property caused by any Person; and (C) prosecuting any claims that Lessee seeks to bring against any Person relating to Lessee’s use and possession of the Property; and 4820-2439-8970. 3 STORE I RT Logic (Kratos) Amended and Restated Lease Agreement File No: 7210/02-525.1
(i) paying all operating costs of the Properties; and (e) making all structural, non-structural, exterior and interior repairs and replacements required to keep Property in the Properties in compliance with Legal Requirementsordinary course of business. Tenant Lessee waives any right to require Landlord Lessor to maintain, repair or rebuild all or any part of the Properties Property or make repairs at the expense of Landlord Lessor pursuant to any Legal Requirements at any time in effect. During , unless such maintenance, repair, or rebuilding is necessitated by Lessor’s gross negligence or willful misconduct.
(b) Notwithstanding anything set forth in Section 7.01(a) above, Lessor shall pay the cost of any Required Capital Improvement during the last five (5) years of the Lease TermTerm in excess of $50,000 cumulative on an annual basis (“Expenditure Cap”) up to the actual cost of such Required Capital Improvement (“Lessor Expenditure”). Lessee shall reimburse Lessor such Lessor Expenditure through an increase in Base Annual Rental in an annual amount equal to the Lessor Expenditure divided by the Useful Life (as determined in Lessor’s reasonable discretion) of such Required Capital Improvement. By way of example, Tenant if a roof replacement costs $200,000 and has a Useful Life of 20 years, Lessee shall keep and maintain at all times reasonably complete and accurate reimburse Lessor through an increase in Base Annual Rental equal to $7,500 per year (consistent with past practices 1/20 x $150,000). For purposes of Tenant) books and records regarding this paragraph, a “Required Capital Improvement” shall mean a permanent structural change to the maintenance and repair Property or the restoration of some aspect of the Properties, Property that will either enhance the Property’s overall value or increase its useful life and upon the written request of Landlord not that is required to be made more than one time completed by Lessee to remain in any twelve month periodcompliance with Section 7.01(a), Tenant shall furnish to Landlord, within thirty (30) days of such request, copies of all maintenance as reasonably determined and repair records for the Properties in Tenant’s possession, including any maintenance or service contracts; provided that Tenant will not be required to furnish duplicate copies of information previously furnished to Landlordagreed upon by Lessee and Lessor.
Appears in 1 contract
Samples: Lease Agreement (Kratos Defense & Security Solutions, Inc.)
Condition of Property; Maintenance. Tenant Lessee hereby accepts the Properties “AS IS” and “WHERE IS” with no representation or warranty of Landlord Lessor as to the condition thereof. Tenant Lessee shall, at its sole cost and expense, be responsible for (a) keeping all of the building, structures and improvements erected on each of the Properties in reasonably good order and repair (ordinary wear and tear excepted)repair, free from actual or constructive waste, including without limitation, the roof and the HVAC and other electrical and mechanical systems and plumbing systems; (b) subject to Article XI, the repair or reconstruction of any building, structures or improvements erected on the Properties damaged or destroyed by a Casualty or affected by a Condemnation to the extent required by Article XICasualty; (c) subject to Section 7.02, making all necessary structural, non-structural, exterior and interior repairs and replacements to any building, structures or improvements erected on the Properties; (d) operating the Properties in accordance with those standards adopted by Xxxxxx from time to time on a system-wide basis for the Permitted Facilities; (e)
(i) ensuring that no party encroaches upon any Property, (ii) except as otherwise set forth in this Lease, protecting, defending, indemnifying, releasing and holding the Indemnified Parties harmless from and against any and all claims and Losses arising out of or in any way relating to any encroachments and/or activities upon any Property caused by any Person; and (iii) prosecuting any claims that Lessee seeks to bring against any Person relating to Lessee’s use and possession of any Property; (f) paying all operating costs of the PropertiesProperties in the ordinary course of business; and (eg) making all structural(i) maintaining the cemetery located upon the Property in Lynchburg, non-structuralVirginia (the “Lynchburg Cemetery”) and access thereto, exterior maintaining the land and interior repairs any fencing that surrounds the Lynchburg Cemetery, and replacements required to keep the Properties in ensuring compliance with Legal Requirementsany applicable Laws or regulations relating to, or in connection with, the Lynchburg Cemetery, and (ii) protecting, defending, indemnifying, releasing and holding the Indemnified Parties harmless from and against any and all claims and Losses arising out of, or in any way relating to, the Lynchburg Cemetery. Tenant Lessee waives any right to require Landlord Lessor to maintain, repair or rebuild all or any part of the Properties or make repairs at the expense of Landlord Lessor pursuant to any Legal Requirements at any time in effect. During the Lease Term, Tenant shall keep and maintain at all times reasonably complete and accurate (consistent with past practices of Tenant) books and records regarding the maintenance and repair of the Properties, and upon the written request of Landlord not to be made more than one time in any twelve month period, Tenant shall furnish to Landlord, within thirty (30) days of such request, copies of all maintenance and repair records for the Properties in Tenant’s possession, including any maintenance or service contracts; provided that Tenant will not be required to furnish duplicate copies of information previously furnished to Landlord.
Appears in 1 contract
Condition of Property; Maintenance. Tenant hereby accepts the Properties Property “AS IS” and “WHERE IS” with no representation or warranty of Landlord as to the condition thereof. Tenant shall, at its sole cost and expense, be responsible for (a) keeping all of the building, structures and improvements (including all components and systems thereof or contained therein, including parking areas and HVAC and other utility systems and equipment) erected on each of the Properties Property in good order and repair (ordinary wear and tear excepted)consistent with good commercial real estate management practices for comparable commercial properties in the State of Minnesota, free from actual or constructive waste, including without limitation, the roof and the HVAC and other electrical and mechanical systems and plumbing systems; (b) the repair or reconstruction of any buildingbuilding (excluding outbuildings identified on Schedule 7.01), structures or improvements erected on the Properties Property damaged or destroyed by a Casualty or affected by a Condemnation to the extent required by Article XICasualty; (c) subject to Section 7.02, making all necessary structural, non-structural, exterior and interior repairs and replacements to any building, structures or improvements (including all components and systems thereof or contained therein, including parking areas and HVAC and other utility systems and equipment) erected on the PropertiesProperty including any required improvements of the industrial park in which the Property is located; (d) operating, remodeling, updating and modernizing, as reasonably necessary, the Property for use permitted under Section 8.01; (e) (i) protecting, defending, indemnifying, releasing and holding the Landlord harmless (and Tenant hereby agrees to so protect, defend, indemnify, release and hold the Landlord harmless) from and against any and all claims and Losses arising out of or in any way relating to any future encroachments and/or activities upon any Property caused by any Person; and (ii) prosecuting any claims that Tenant seeks to bring against any Person relating to Tenant’s use and possession of any Property; and (f) paying all operating costs of the Properties; and (e) making all structural, non-structural, exterior and interior repairs and replacements required to keep Property in the Properties in compliance with Legal Requirementsordinary course of business. Tenant waives any right to require Landlord to maintain, repair or rebuild all or any part of the Properties Property or make repairs at the expense of Landlord pursuant to any Legal Requirements at any time in effect. During Tenant shall pay the Lease Term, cost of all capital improvements. Tenant shall keep and maintain at all times reasonably complete records, including, work orders, service contracts, maintenance reports, inspections, health and accurate (consistent with past practices safety compliance audits or reports, of or pertaining to the Property and/or Tenant) books ’s performance of its obligations pursuant to this Lease, including Articles VII or VIII, and shall promptly provide copies to Landlord of all or any such documents and records regarding the maintenance and repair of the Propertiesas Landlord may request from time to time, and upon the written request of Landlord not to be made more than one time in any twelve month period, Tenant shall furnish to Landlord, within thirty (30) days of such request, copies of all maintenance and repair records for the Properties in Tenant’s possession, including any maintenance or service contracts; provided that Tenant will shall not be required responsible to furnish duplicate copies of information previously furnished provide to LandlordLandlord any such documents relating to Tenant's compliance with ITAR or any documents specific to any customer inspection, audit or review.
Appears in 1 contract