Construction of Capital Additions to the Leased Property. (a) If no Event of Default shall have occurred or be continuing under this Lease or the Other Leases, Lessee shall have the right, upon and subject to the terms and conditions set forth below, to construct or install Capital Additions on the Leased Property without the prior written consent of Lessor, provided, however, except as expressly provided in Section 10.2(d) hereof, Lessee shall not be permitted to create any Encumbrance on the Leased Property, as defined in Article XXXVII, in connection with such Capital Addition. Prior to commencing construction of any Capital Addition, Lessee shall, at Lessee's sole cost and expense (i) submit to Lessor in writing a proposal setting forth in reasonable detail any proposed Capital Addition, (ii) provide to Lessor such plans and specifications, certificates of need and other approvals, permits, licenses, contracts and other information concerning the proposed Capital Addition as Lessor may reasonably request, and (iii) obtain all necessary certificates of need, state licensure surveys and all regulatory approvals of architectural plans. Without limiting the generality of the foregoing, such proposal shall indicate the approximate projected cost of constructing such Capital Addition, and the use or uses to which it will be put. (b) Prior to commencing construction of any Capital Addition, Lessee shall first request Lessor to provide funds to pay for such Capital Addition in accordance with the provisions of Section 10.
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Samples: Lease Agreement (Medical Properties Trust Inc), Lease Agreement (Medical Properties Trust Inc), Lease Agreement (Medical Properties Trust Inc)
Construction of Capital Additions to the Leased Property. (a) If no Event of Default shall have occurred or and be continuing under this Lease or the Other Leasescontinuing, Lessee shall have the right, upon and subject to the terms and conditions set forth below, to construct or install Capital Additions on the Leased Property without with the prior written consent of Lessor, provided, however, except as expressly Lessor which consent shall not be unreasonably withheld; provided in Section 10.2(d) hereof, that Lessee shall not be permitted to create any Encumbrance on the Leased Property, as defined in Article XXXVII, Property in connection with such Capital AdditionAddition without first complying with Section 9.l(b) hereof. Prior to commencing construction of any Capital Addition, Lessee shall, at Lessee's sole cost and expense (i) shall submit to Lessor in writing a proposal setting forth in reasonable detail any proposed Capital Addition, (ii) Addition and shall provide to Lessor such plans and specifications, certificates of need and other approvals, permits, licenses, contracts and other information concerning the proposed Capital Addition as Lessor may reasonably request, and (iii) obtain all necessary certificates of need, state licensure surveys and all regulatory approvals of architectural plans. Without limiting the generality of the foregoing, such proposal shall indicate the approximate projected cost of constructing such Capital Addition, Addition and the use or uses to which it will be put. Notwithstanding the foregoing, Lessee shall be permitted to construct or install Capital Additions whose cost does not exceed $25,000 in any one Lease year without the need to obtain the prior written consent of Lessor provided that such improvements shall be architecturally integrated into and consistent with the Leased Property.
(b) Prior to commencing construction of any Capital Addition, Lessee shall first request Lessor to provide funds to pay for such Capital Addition in accordance with the provisions of Section 109.3 unless the Capital Addition Cost is less than $25,000. If Lessor declines or is unable to provide such financing on terms acceptable to Lessee and Lessee rejects Lessor's offer of financing, Lessee may arrange or provide other financing, subject to the provisions of Section 9.
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Samples: Lease Agreement (Balanced Care Corp), Lease Agreement (Balanced Care Corp), Lease (Balanced Care Corp)
Construction of Capital Additions to the Leased Property. (a) If no Event of Default shall have occurred or be continuing under this Lease or Lease, the Other Leases and the Tenant Leases, Lessee shall have the right, upon and subject to the terms and conditions set forth below, to construct or install Capital Additions on the Leased Property without the prior written consent of Lessor, provided, however, except as expressly provided in Section 10.2(d) hereof, Lessee shall not be permitted to create any Encumbrance on the Leased Property, as defined in Article XXXVII, in connection with such Capital Addition. Prior to commencing construction of any Capital Addition, Lessee shall, at Lessee's sole cost and expense (i) submit to Lessor in writing a proposal setting forth in reasonable detail any proposed Capital Addition, (ii) provide submit to Lessor such plans and specifications, certificates of need and other approvals, permits, licenses, contracts and other information concerning the proposed Capital Addition as Lessor may reasonably request, and (iii) obtain all necessary certificates of need, state licensure surveys and all regulatory approvals of architectural plans. Without limiting the generality of the foregoing, such proposal shall indicate the approximate projected cost of constructing such Capital Addition, and the use or uses to which it will be put.
(b) Prior to commencing construction of any Capital Addition, Lessee shall first request Lessor to provide funds to pay for such Capital Addition in accordance with the provisions of Section 10.
Appears in 2 contracts
Samples: Lease Agreement (Medical Properties Trust Inc), Lease Agreement (Medical Properties Trust Inc)
Construction of Capital Additions to the Leased Property. (a) If no Event of Default shall have occurred or and be continuing under this Lease or the Other Leasescontinuing, Lessee shall have the right, upon and subject to the terms and conditions set forth below, to construct or install Capital Additions on the Leased Property without with the prior written consent of Lessor, provided, however, except as expressly Lessor which consent shall not be unreasonably withheld; provided in Section 10.2(d) hereof, that Lessee shall not be permitted to create any Encumbrance on the Leased Property, as defined in Article XXXVII, Property in connection with such Capital AdditionAddition without first complying with Section 9.1(b) hereof. Prior to commencing construction of any Capital Addition, Lessee shall, at Lessee's sole cost and expense (i) shall submit to Lessor in writing a proposal setting forth in reasonable detail any proposed Capital Addition, (ii) Addition and shall provide to Lessor such plans and specifications, certificates of need and other approvals, permits, licenses, contracts and other information concerning the proposed Capital Addition as Lessor may reasonably request, and (iii) obtain all necessary certificates of need, state licensure surveys and all regulatory approvals of architectural plans. Without limiting the generality of the foregoing, such proposal shall indicate the approximate projected cost of constructing such Capital Addition, Addition and the use or uses to which it will be put.
(b) Prior to commencing construction of any Capital Addition, Lessee shall first request Lessor to provide funds to pay for such Capital Addition in accordance with the provisions of Section 109.
Appears in 2 contracts
Samples: Master Development Agreement (Grand Court Lifestyles Inc), Lease Agreement (Integrated Living Communities Inc)
Construction of Capital Additions to the Leased Property. (a) If Except as set forth on EXHIBIT C attached hereto, if no Event of Default shall have occurred or be continuing under this Lease, the Other Lease and the Tenant Leases, and no event has occurred which with the giving of notice or the Other Leasespassage of time or both would constitute such a default, Lessee shall have the right, upon and subject to the terms and conditions set forth below, to construct or install Capital Additions on the Leased Property without the prior written consent of Lessor, provided, however, except as expressly provided in Section 10.2(d) hereof, Lessee shall not be permitted to create any Encumbrance on the Leased Property, as defined in Article XXXVII, in connection with such Capital Addition, without the prior written consent of Lessor. Prior to commencing construction of any Capital Addition, Lessee shall, at Lessee's sole cost and expense (i) submit to Lessor for Lessor's prior approval in writing a proposal setting forth in reasonable detail any proposed Capital Addition, (ii) provide submit to Lessor for Lessor's prior approval such plans and specifications, certificates of need and other approvals, permits, licenses, contracts and other information concerning the proposed Capital Addition as Lessor may reasonably request, and (iii) obtain all necessary certificates of need, state licensure surveys and all regulatory approvals of architectural plans. Without limiting the generality of the foregoing, such proposal shall indicate the approximate projected cost of constructing such Capital Addition, and the use or uses to which it will be put.
(b) Prior to commencing construction of any Capital Addition, Lessee shall first request Lessor to provide funds to pay for such Capital Addition in accordance with the provisions of Section 10.
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Construction of Capital Additions to the Leased Property. (a) If no Event of Default shall have occurred or be continuing under this Lease or the Other Leasescontinuing, Lessee shall have the right, upon and subject to the terms and conditions set forth below, to construct or install Capital Additions on the Leased Property without the prior written consent of Lessor, provided, however, except as expressly provided in Section 10.2(d) hereof, that Lessee shall not be permitted to create any Encumbrance on the Leased Property, as defined in Article XXXVIIXXXVIII, in connection with such Capital Addition. Prior to commencing construction of any Capital Addition, Lessee shall, at Lessee's sole cost and expense (i) shall submit to Lessor in writing a proposal setting forth in reasonable detail any proposed Capital Addition, (ii) Addition and shall provide to Lessor such plans and specifications, certificates of need and other approvals, permits, licenses, contracts and other information concerning the proposed Capital Addition as Lessor may reasonably request, and (iii) obtain all necessary certificates of need, state licensure surveys and all regulatory approvals of architectural plans. Without limiting the generality of the foregoing, such proposal shall indicate the approximate projected cost of constructing such Capital Addition, and the use or uses use to which it will be putput and a good faith estimate of the change, if any, in the Gross Revenues that Lessee anticipates will result from the construction of such Capital Addition to the Leased Property.
(b) Prior to commencing construction of any Capital Addition, Lessee shall first request Lessor to provide funds to pay for such Capital Addition in accordance with the provisions of Section 10.
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Construction of Capital Additions to the Leased Property. (a) If (i) After the completion of the construction of the Hospital Improvements, if no Event of Default shall have occurred or and be continuing under this Lease or and the Other Secondary Leases, Lessee Tenant, except as expressly provided in this Article X to the contrary, shall have the right, upon and subject to the terms and conditions set forth below, to construct or install Capital Additions on the Leased Property without the prior written consent of LessorLandlord, provided, however, except as expressly provided in Section 10.2(d) hereof, Lessee Tenant shall not be permitted to create any Encumbrance on the Leased Property, as defined in Article XXXVII, Property or the Hospital Improvements in connection with such Capital Addition. Prior to commencing construction of any Capital Addition, Lessee shallTenant, at LesseeTenant's sole cost and expense expense, shall (i) submit to Lessor Landlord in writing a proposal setting forth in reasonable detail any proposed Capital Addition, (ii) Addition and shall provide to Lessor Landlord such plans and specifications, certificates of need and other approvals, permits, licenses, contracts and other information concerning the proposed Capital Addition as Lessor Landlord may reasonably request, and (iiiii) obtain all necessary certificates of need, state licensure surveys and all regulatory approvals of architectural plans. Without limiting the generality of the foregoing, such proposal shall indicate the approximate projected cost of constructing such Capital Addition, Addition and the use or uses to which it will be put.
(b) Prior to commencing construction of any Capital Addition, Lessee shall first request Lessor to provide funds to pay for such Capital Addition in accordance with the provisions of Section 10.
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