Common use of Construction of Capital Additions Clause in Contracts

Construction of Capital Additions. Tenant shall not construct or install any Capital Addition on the Leased Property without obtaining Landlord's prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned, provided that no consent shall be required for any Capital Addition as long as (i) the Capital Additions Costs for such Capital Addition are less than Two Hundred Fifty Thousand Dollars ($250,000), in the aggregate and (ii) such construction or installation will not materially and adversely affect or violate any Legal Requirement or Insurance Requirement applicable to the Leased Property. If Landlord's consent is required, prior to commencing construction of any Capital Addition, Tenant shall submit to Landlord, in writing, a proposal setting forth, in reasonable detail, any proposed Capital Addition and shall provide to Landlord such plans and specifications, permits, licenses, contracts and other information concerning the proposed Capital Addition as Landlord may reasonably request. Landlord shall have ten (10) Business Days to review all materials submitted to Landlord in connection with any such proposal. Failure of Landlord to respond to Tenant's proposal within ten (10) Business Days after receipt of all information and materials requested by Landlord in connection with the proposed Capital Addition shall be deemed to constitute approval of such proposed Capital Addition, subject in all events, however, to Tenant's compliance with the other requirements of this Paragraph 11. 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. No Capital Addition shall be made which would tie in or connect any Improvement on the Leased Property with any other improvements on property adjacent to the Leased Property (and not part of the Land), including, without limitation, tie-ins of buildings or other structures or utilities, without Landlord's consent, which shall be given or withheld in Landlord's discretion. Any Capital Additions shall, upon the expiration or sooner termination of the Term, pass to and become the property of Landlord, free and clear of all encumbrances other than Permitted Encumbrances.

Appears in 6 contracts

Samples: Property Lease Agreement (Brookdale Senior Living Inc.), Property Lease Agreement (Brookdale Senior Living Inc.), Property Lease Agreement (Brookdale Senior Living Inc.)

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Construction of Capital Additions. Tenant shall not construct or install or make any Capital Addition on or to the Leased Property without obtaining Landlord's prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned, provided that no consent shall be required for any Capital Addition as long as (i) the Capital Additions Costs for such Capital Addition are less than Two Hundred Fifty Thousand Dollars ($250,000250,000.00) per Capital Addition (including all related work), in the aggregate and (ii) such construction or installation will not materially and adversely affect or violate any Legal Requirement or Insurance Requirement applicable to the Leased Property. If Landlord's consent is required, prior Prior to commencing construction of any Capital Addition, Tenant shall submit to Landlord, in writing, a proposal setting forth, in reasonable detail, any proposed Capital Addition and shall provide to Landlord such plans and specifications, permits, licenses, contracts and other information concerning the proposed Capital Addition as Landlord may reasonably request. Landlord shall have ten (10) Business Days to review all materials submitted to Landlord in connection with any such proposal. Failure of Landlord to respond to Tenant's proposal within ten (10) Business Days after receipt of all information and materials reasonably requested by Landlord in connection with the proposed Capital Addition shall be deemed to constitute approval of such proposed Capital Addition, subject in all events, however, to Tenant's compliance with the other requirements of this Paragraph 11. 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. No Capital Addition shall be made which would tie in or connect any Improvement on the Leased Property with any other improvements on property adjacent to the Leased Property (and not part of the Land), including, without limitation, tie-ins of buildings or other structures or utilitiesutilities (other than a utility facility belonging to the provider of such utility service), without Landlord's consent, which shall be given or withheld in Landlord's discretion. Any Capital Additions shall, upon the expiration or sooner termination of the Term, pass to and become the property of Landlord, free and clear of all encumbrances other than Permitted Encumbrances.

Appears in 2 contracts

Samples: Property Lease Agreement (Brookdale Senior Living Inc.), Property Lease Agreement (Provident Senior Living Trust)

Construction of Capital Additions. (a) If no Event of Default shall have occurred and be continuing, Tenant shall not may, subject to the terms and conditions contained in this Article, construct or install any Capital Addition Additions on the Leased Property without obtaining Landlord's with the prior written consentapproval of Landlord, which consent approval shall not be unreasonably withheld, withheld or delayed or conditioned, as expressly provided that no consent herein. Tenant shall not be required for permitted to create any Capital Addition as long as (i) Encumbrance on the Capital Additions Costs for Property in connection with any such Capital Addition are less than Two Hundred Fifty Thousand Dollars Addition. ($250,000), in the aggregate and (iib) such construction or installation will not materially and adversely affect or violate any Legal Requirement or Insurance Requirement applicable to the Leased Property. If Landlord's consent is required, prior Prior to commencing construction of any Capital Addition, Tenant shall submit to Landlord, Landlord in writing, writing a proposal setting forth, forth in reasonable detail, detail any proposed Capital Addition and shall provide to Landlord such plans and specifications, permits, licenses, contracts and other information concerning the proposed Capital Addition as Landlord may reasonably request. Landlord shall have ten (10) Business Days to review all materials submitted to Landlord in connection with any such proposal. Failure of Landlord to respond to Tenant's proposal within ten (10) Business Days after receipt of all information and materials requested by Landlord in connection with the proposed Capital Addition shall be deemed to constitute approval of such proposed Capital Addition, subject in all events, however, to Tenant's compliance with the other requirements of this Paragraph 11. Without limiting the generality of the foregoing, such proposal shall indicate the approximate projected cost of constructing such Capital Addition and Addition, the use or uses to which it will be put. put and a good faith estimate of the change, if any, in the Gross Revenues that Tenant anticipates will be caused by such Capital Addition. (c) No Capital Addition shall be made which would tie in or connect any Improvement on the Leased Property Improvements with any other improvements on property adjacent to the Leased Property (and not part of the LandProperty), including, including without limitation, tie-ins of buildings or other structures or utilities, without Landlord's consent, which utilities unless Tenant shall be given or withheld in Landlord's discretion. Any Capital Additions shall, upon have obtained the expiration or sooner termination of the Term, pass to and become the property prior written consent of Landlord, free which consent Landlord may grant, withhold or delay in its sole discretion. All proposed Capital Additions shall be architecturally integrated and clear of all encumbrances other than Permitted Encumbrancesconsistent with the Property.

Appears in 2 contracts

Samples: Lease Agreement (Unison Healthcare Corp), Lease Agreement (Unison Healthcare Corp)

Construction of Capital Additions. Tenant shall not construct or install any Capital Addition on any of the Leased Property Properties without obtaining Landlord's prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned, provided that no consent shall be required for any Capital Addition as long as (i) the Capital Additions Costs for such Capital Addition are less than Two Hundred Fifty Thousand Dollars ($250,000250,000.00) per Capital Addition (including all related work), in the aggregate with respect to any particular Leased Property and (ii) such construction or installation will not materially and adversely affect or violate any Legal Requirement or Insurance Requirement applicable to the such Leased Property. If Landlord's consent is required, prior Prior to commencing construction of any Capital AdditionAddition requiring consent pursuant to the preceding sentence, Tenant shall submit to Landlord, in writing, a proposal setting forth, in reasonable detail, any proposed Capital Addition and shall provide to Landlord such plans and specifications, permits, licenses, contracts and other information concerning the proposed Capital Addition as Landlord may reasonably request. Landlord shall have ten (10) Business Days to review all materials submitted to Landlord in connection with any such proposal. Failure of Landlord to respond to Tenant's proposal within ten (10) Business Days after receipt of all information and materials requested by Landlord in connection with the proposed Capital Addition shall be deemed to constitute approval of such proposed Capital Addition, subject in all events, however, to Tenant's compliance with the other requirements of this Paragraph 11. 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. No Capital Addition shall be made which would tie in or connect any Improvement on the applicable Leased Property with any other improvements on property adjacent to the such Leased Property (and not part of the Land), including, without limitation, tie-ins of buildings or other structures or utilitiesutilities (other than a utility facility belonging to the provider of such utility service), without Landlord's consent, which shall be given or withheld in Landlord's discretion. Any Capital Additions shall, upon the expiration or sooner termination of the Term, pass to and become the property of Landlord, free and clear of all encumbrances other than Permitted Encumbrances.

Appears in 2 contracts

Samples: Property Lease Agreement (Brookdale Senior Living Inc.), Property Lease Agreement (Provident Senior Living Trust)

Construction of Capital Additions. Tenant shall not construct or install Capital Additions on any Capital Addition on of the Collective Leased Property Properties without obtaining Landlord's prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned, provided that no consent shall be required for any Capital Addition as so long as (ia) the Capital Additions Costs for such Capital Addition are less than Two Hundred Fifty Thousand Dollars ($250,000), 250,000 in the aggregate and aggregate; (iib) such construction or installation will would not materially and adversely affect or violate any Legal Requirement or Insurance Requirement applicable to the applicable Leased Property; and (c) Landlord shall have received an Officer's Certificate certifying as to the satisfaction of the conditions set out in clauses (a) and (b) above. If Landlord's consent is required, prior to commencing construction of any Capital Addition, Tenant shall submit to Landlord, in writing, a proposal setting forth, in reasonable detail, any proposed Capital Addition and shall provide to Landlord such plans and specifications, permits, licenses, contracts and other information concerning the proposed Capital Addition as Landlord may reasonably request. Landlord shall have ten (10) Business Days to review all materials submitted to Landlord in connection with any such proposal. Failure of Landlord to respond to Tenant's proposal within ten (10) Business Days after receipt of all information and materials requested by Landlord in connection with the proposed Capital Addition shall be deemed to constitute approval of such proposed Capital Addition, subject in all events, however, to Tenant's compliance with the other requirements of this Paragraph 11. 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. No Capital Addition shall be made which would tie in or connect any Leased Improvement on the applicable Leased Property with any other improvements on property adjacent to the such Leased Property (and not part of the Land), including, without limitation, tie-ins of buildings or other structures or utilities, without Landlord's consent, which . Tenant shall be given or withheld not finance the cost of any construction of any Capital Addition except as provided in Landlord's discretionSection 6.2.1. Any Capital Additions (including Tenant's Capital Additions) shall, upon the expiration or sooner termination of the Termthis Agreement, pass to and become the property of Landlord, free and clear of all encumbrances other than Permitted EncumbrancesEncumbrances but subject to Landlord's obligation to compensate Tenant for Tenant's Capital Additions as provided below.

Appears in 2 contracts

Samples: Master Lease Agreement (Senior Housing Properties Trust), Master Lease Agreement (Brookdale Living Communities Inc)

Construction of Capital Additions. Tenant shall not construct or install any Capital Addition on any of the Leased Property Properties without obtaining Landlord's prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned, provided that no consent shall be required for any Capital Addition as long as (i) the Capital Additions Costs for such Capital Addition are less than Two Hundred Fifty Thousand Dollars ($250,000250,000.00) per Capital Addition (including all related work), in the aggregate with respect to any particular Leased Property and (ii) such construction or installation will not violate any Facility Mortgage Requirements, or materially and adversely affect such Leased Property or violate any Legal Requirement or Insurance Requirement applicable to the such Leased Property. If Landlord's consent is required, prior Prior to commencing construction of any Capital AdditionAddition requiring consent pursuant to the preceding sentence, Tenant shall submit to Landlord, in writing, a proposal setting forth, in reasonable detail, any proposed Capital Addition and shall provide to Landlord such plans and specifications, permits, licenses, contracts and other information concerning the proposed Capital Addition as Landlord may reasonably request. Landlord shall have ten (10) Business Days to review all materials submitted to Landlord in connection with any such proposal. Failure of Landlord to respond to Tenant's proposal within ten (10) Business Days after receipt of all information and materials requested by Landlord in connection with the proposed Capital Addition shall be deemed to constitute approval of such proposed Capital Addition, subject in all events, however, to Tenant's compliance with the other requirements of this Paragraph 11. 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. No Capital Addition shall be made which would tie in or connect any Improvement on the applicable Leased Property with any other improvements on property adjacent to the such Leased Property (and not part of the Land), including, without limitation, tie-ins of buildings or other structures or utilitiesutilities (other than a utility facility belonging to the provider of such utility service), without Landlord's consent, which shall be given or withheld in Landlord's discretion. Any Capital Additions shall, upon the expiration or sooner termination of the Term, pass to and become the property of Landlord, free and clear of all encumbrances other than Permitted Encumbrances.

Appears in 1 contract

Samples: Property Lease Agreement (Brookdale Senior Living Inc.)

Construction of Capital Additions. (a) If no Event of Default shall have occurred and be continuing, Tenant shall not may, subject to the terms and conditions 31 38 contained in this Article, construct or install any Capital Addition Additions on the Leased Property without obtaining Landlord's with the prior written consentapproval of Landlord, which consent approval shall not be unreasonably withheld, withheld or delayed or conditioned, as expressly provided that no consent herein. Tenant shall not be required for permitted to create any Capital Addition as long as (i) Encumbrance on the Capital Additions Costs for Property in connection with any such Capital Addition are less than Two Hundred Fifty Thousand Dollars Addition. ($250,000), in the aggregate and (iib) such construction or installation will not materially and adversely affect or violate any Legal Requirement or Insurance Requirement applicable to the Leased Property. If Landlord's consent is required, prior Prior to commencing construction of any Capital Addition, Tenant shall submit to Landlord, Landlord in writing, writing a proposal setting forth, forth in reasonable detail, detail any proposed Capital Addition and shall provide to Landlord such plans and specifications, permits, licenses, contracts and other information concerning the proposed Capital Addition as Landlord may reasonably request. Landlord shall have ten (10) Business Days to review all materials submitted to Landlord in connection with any such proposal. Failure of Landlord to respond to Tenant's proposal within ten (10) Business Days after receipt of all information and materials requested by Landlord in connection with the proposed Capital Addition shall be deemed to constitute approval of such proposed Capital Addition, subject in all events, however, to Tenant's compliance with the other requirements of this Paragraph 11. Without limiting the generality of the foregoing, such proposal shall indicate the approximate projected cost of constructing such Capital Addition and Addition, the use or uses to which it will be put. put and a good faith estimate of the change, if any, in the Gross Revenues that Tenant anticipates will be caused by such Capital Addition. (c) No Capital Addition shall be made which would tie in or connect any Improvement on the Leased Property Improvements with any other improvements on property adjacent to the Leased Property (and not part of the LandProperty), including, including without limitation, tie-ins of buildings or other structures or utilities, without Landlord's consent, which utilities unless Tenant shall be given or withheld in Landlord's discretion. Any Capital Additions shall, upon have obtained the expiration or sooner termination of the Term, pass to and become the property prior written consent of Landlord, free which consent Landlord may grant, withhold or delay in its sole discretion. All proposed Capital Additions shall be architecturally integrated and clear of all encumbrances other than Permitted Encumbrancesconsistent with the Property.

Appears in 1 contract

Samples: Lease Agreement (Unison Healthcare Corp)

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Construction of Capital Additions. (a) If no Event of Default shall have occurred and be continuing, Tenant shall not may, subject to the terms and conditions contained in this Article, construct or install any Capital Addition Additions on the Leased Property without obtaining Landlord's with the prior written consentapproval of Landlord, which consent approval shall not be unreasonably withheld, withheld or delayed or conditioned, as expressly provided that no consent herein. Tenant shall not be required for permitted to create any Capital Addition as long as (i) Encumbrance on the Capital Additions Costs for Property in connection with any such Capital Addition are less than Two Hundred Fifty Thousand Dollars Addition. ($250,000), in the aggregate and (iib) such construction or installation will not materially and adversely affect or violate any Legal Requirement or Insurance Requirement applicable to the Leased Property. If Landlord's consent is required, prior Prior to commencing construction of any Capital Addition, Tenant shall submit to Landlord, Landlord in writing, writing a proposal setting forthsetting, forth in reasonable detail, detail any proposed Capital Addition and shall provide to Landlord such plans and specifications, permits, licenses, contracts and other information concerning the proposed Capital Addition as Landlord may reasonably request. Landlord shall have ten (10) Business Days to review all materials submitted to Landlord in connection with any such proposal. Failure of Landlord to respond to Tenant's proposal within ten (10) Business Days after receipt of all information and materials requested by Landlord in connection with the proposed Capital Addition shall be deemed to constitute approval of such proposed Capital Addition, subject in all events, however, to Tenant's compliance with the other requirements of this Paragraph 11. Without limiting the generality of the foregoing, such proposal shall indicate the approximate projected cost of constructing such Capital Addition and Addition, the use or uses to which it will be put. put and a good faith estimate of the change, if any, in the Gross Revenues that Tenant anticipates will be caused by such Capital Addition. (c) No Capital Addition shall be made which would tie in or connect any Improvement on the Leased Property Improvements with any other improvements on property adjacent to the Leased Property (and not part of the LandProperty), including, including without limitation, tie-ins of buildings or other structures or utilities, without Landlord's consent, which utilities unless Tenant shall be given or withheld in Landlord's discretion. Any Capital Additions shall, upon have obtained the expiration or sooner termination of the Term, pass to and become the property prior written consent of Landlord, free which consent Landlord may grant, withhold or delay in its sole discretion. All proposed Capital Additions shall be architecturally integrated and clear of all encumbrances other than Permitted Encumbrancesconsistent with the Property.

Appears in 1 contract

Samples: Lease Agreement (Unison Healthcare Corp)

Construction of Capital Additions. (a) If no Event of Default shall have occurred and be continuing, Tenant may, subject to the terms and conditions contained in this Article, construct or install Capital Additions on the Property. All Capital Additions costing in excess of $250,000 shall require the prior written approval of Landlord, which approval shall not be unreasonably withheld or delayed as expressly provided herein. It shall not be unreasonable for the Landlord to withhold its consent if any appraisal obtained by Landlord shows that the fair market value of the Capital Addition as proposed to be built is less than the cost of the Capital Additions. Tenant shall not construct or install be permitted to create any Capital Addition Encumbrance on the Leased Property in connection with any such Capital Addition, without obtaining Landlord's prior written consent, consent (which consent shall not be unreasonably withheld, delayed withheld or conditioned, provided that no consent shall be required for any Capital Addition as long as delayed). (ib) the Capital Additions Costs for such Capital Addition are less than Two Hundred Fifty Thousand Dollars ($250,000), in the aggregate and (ii) such construction or installation will not materially and adversely affect or violate any Legal Requirement or Insurance Requirement applicable to the Leased Property. If Landlord's consent is required, prior Prior to commencing construction of any Capital Addition, Tenant shall submit to Landlord, Landlord in writing, writing a proposal setting forth, forth in reasonable detail, detail any proposed Capital Addition and shall provide to Landlord such plans and specifications, permits, licenses, contracts and other information concerning the proposed Capital Addition as Landlord may reasonably request. Landlord shall have ten (10) Business Days to review all materials submitted to Landlord in connection with any such proposal. Failure of Landlord to respond to Tenant's proposal within ten (10) Business Days after receipt of all information and materials requested by Landlord in connection with the proposed Capital Addition shall be deemed to constitute approval of such proposed Capital Addition, subject in all events, however, to Tenant's compliance with the other requirements of this Paragraph 11. Without limiting the generality of the foregoing, such proposal shall indicate the approximate projected cost of constructing such Capital Addition and Addition, the use or uses to which it will be putput and a good faith estimate of whether any reduction in the Gross Revenues will be caused by such Capital Addition. Tenant shall not commence to build any Capital Addition unless Tenant shall first have provided Landlord with either (i) a lien payment and completion bond in form and substance and issued by a surety reasonably acceptable to Landlord in an amount equal to 150% of the reasonably anticipated cost of such Capital Additions or (ii) a payment and completion guaranty in form and substance and executed by a guarantor reasonably acceptable to Landlord. Notwithstanding the foregoing, if Tenant obtains Landlord's prior written approval of the general contractor making such Capital Addition, the foregoing requirements to obtain a completion bond or completion guaranty shall be deemed waived. (c) No Capital Addition shall be made which would tie in or connect any Improvement on the Leased Property Improvements with any other improvements on property adjacent to the Leased Property (and not part of the LandProperty), including, including without limitation, tie-ins of buildings or other structures or utilities, without Landlord's consent, which utilities unless Tenant shall be given or withheld in Landlord's discretion. Any Capital Additions shall, upon have obtained the expiration or sooner termination of the Term, pass to and become the property prior written consent of Landlord, free which consent Landlord may grant, withhold or delay in its sole discretion. All proposed Capital Additions shall be architecturally integrated and clear consistent with the Property. (d) Notwithstanding anything to the contrary in this Section 11.1, Tenant covenants and agrees to commence, complete and perform timely all obligations of all encumbrances other than Permitted EncumbrancesTenant with respect to the 2002 Project as set forth in the Work Letter.

Appears in 1 contract

Samples: Pioneer Hospital Lease (Iasis Healthcare Corp)

Construction of Capital Additions. Tenant shall not construct or install any Capital Addition Additions on the Leased Property without obtaining Landlord's prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned, provided that no consent shall be required for any Capital Addition as so long as (ia) the Capital Additions Costs for such Capital Addition are less than Two Hundred Fifty Thousand Dollars ($250,000), 150,000 in the aggregate and aggregate; (iib) such construction or installation will would not materially and adversely affect or violate any Legal Requirement or Insurance Requirement applicable to the Leased Property; (c) the Capital Addition Costs incurred or to be incurred by Tenant in the twelve-month period ending with the completion of the latest Capital Additions shall not exceed $500,000; and (d) Landlord shall have received an Officer's Certificate certifying as to the satisfaction of the conditions set out in clauses (a), (b) and (c) above. Landlord shall not unreasonably withhold consent to any Capital Addition which shall not alter the character of the Property or diminish the value of the Property (which, in the event of a dispute, shall be determined by a Qualified Appraiser selected by Landlord and reasonably acceptable to Tenant). If Landlord's consent is required, prior to commencing construction of any Capital Addition, Tenant shall submit to Landlord, in writing, a proposal setting forth, in reasonable detail, any proposed Capital Addition and, if required by Landlord, the report of the Qualified Appraiser attesting to effect on value and shall provide to Landlord such plans and specifications, permits, licenses, contracts and other information concerning the proposed Capital Addition as Landlord may reasonably request. Landlord shall have ten thirty (1030) Business Days days to review all materials submitted to Landlord in connection with any such proposal. Failure of Landlord to respond to Tenant's proposal within ten thirty (1030) Business Days days after receipt of all information and materials requested by Landlord in connection with the proposed Capital Addition shall be deemed to constitute approval of such proposed Capital Addition, subject in all events, however, provided that such proposal states prominently that the failure of Landlord to Tenant's compliance with the other requirements of this Paragraph 11respond within such 30-day period shall constitute approval. 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. No Capital Addition shall be made which would tie in or connect any Improvement on the Leased Property with any other improvements on property adjacent to the Leased Property (and not part of the Land), including, without limitation, tie-ins of buildings or other structures or utilities, without Landlord's consent, which shall be given or withheld in Landlord's discretionProperty. Any Capital Additions shall, upon the expiration or sooner termination of the Termthis Agreement, pass to and become the property of Landlord, free and clear of all encumbrances other than Permitted Encumbrances.

Appears in 1 contract

Samples: Lease Agreement (Cytotherapeutics Inc/De)

Construction of Capital Additions. (a) If no Event of Default shall have occurred and be continuing, Tenant may, subject to the terms and conditions contained in this Article, construct or install Capital Additions on the Property. All Capital Additions costing in excess of $100,000 shall require the prior written approval of Landlord, which approval shall not be unreasonably withheld or delayed as expressly provided herein. It shall not be unreasonable for the Landlord to withhold its consent if any appraisal obtained by Landlord shows that the fair market value of the Capital Addition as proposed to be built is less than the cost of the Capital Additions. Tenant shall not construct or install be permitted to create any Capital Addition Encumbrance on the Leased Property in connection with any such Capital Addition, without obtaining Landlord's prior written consent, consent (which consent shall not be unreasonably withheld, delayed withheld or conditioned, provided that no consent shall be required for any Capital Addition as long as delayed). (ib) the Capital Additions Costs for such Capital Addition are less than Two Hundred Fifty Thousand Dollars ($250,000), in the aggregate and (ii) such construction or installation will not materially and adversely affect or violate any Legal Requirement or Insurance Requirement applicable to the Leased Property. If Landlord's consent is required, prior Prior to commencing construction of any Capital Addition, Tenant shall submit to Landlord, Landlord in writing, writing a proposal setting forth, forth in reasonable detail, detail any proposed Capital Addition and shall provide to Landlord such plans and specifications, permits, licenses, contracts and other information concerning the proposed Capital Addition as Landlord may reasonably request. Landlord shall have ten (10) Business Days to review all materials submitted to Landlord in connection with any such proposal. Failure of Landlord to respond to Tenant's proposal within ten (10) Business Days after receipt of all information and materials requested by Landlord in connection with the proposed Capital Addition shall be deemed to constitute approval of such proposed Capital Addition, subject in all events, however, to Tenant's compliance with the other requirements of this Paragraph 11. Without limiting the generality of the foregoing, such proposal shall indicate the approximate projected cost of constructing such Capital Addition and Addition, the use or uses to which it will be putput and a good faith estimate of the change, if any, in the Gross Revenues that Tenant anticipates will be caused by such Capital Addition. Tenant shall not commence to build any Capital addition unless Tenant shall first have provided Landlord with either (i) a lien payment and completion bond in form and substance and issued by a surety reasonably acceptable to Landlord in an amount equal to 150% of the reasonably anticipated cost of such Capital Additions or (ii) a payment and completion guaranty in form and substance and executed by a guarantor reasonably acceptable to Landlord. (c) No Capital Addition shall be made which would tie in or connect any Improvement on the Leased Property Improvements with any other improvements on property adjacent to the Leased Property (and not part of the LandProperty), including, including without limitation, tie-ins of buildings or other structures or utilities, without Landlord's consent, which utilities unless Tenant shall be given or withheld in Landlord's discretion. Any Capital Additions shall, upon have obtained the expiration or sooner termination of the Term, pass to and become the property prior written consent of Landlord, free which consent Landlord may grant, withhold or delay in its sole discretion. All proposed Capital Additions shall be architecturally integrated and clear of all encumbrances other than Permitted Encumbrancesconsistent with the Property.

Appears in 1 contract

Samples: Hospital Lease (Iasis Healthcare Corp)

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