Delivery of Demised Premises. Upon the expiration or termination of this Master Lease from whatsoever cause with respect to any or all of the Demised Premises or a portion thereof, including without limitation any termination under Section 1.6, 1.7 or 1.8, with respect to casualty or Condemnation, or as a result of any Event of Default, Tenant shall surrender and deliver the affected Demised Premises to Landlord, together with all Alterations which are Landlord’s property under this Master Lease, (a) vacant and free from all occupants and tenancies, including without limitation all Subleases, (b) broom-clean and in proper order and condition of repair as required by the other provisions of this Master Lease, reasonable wear and tear excepted, (c) in compliance with all Legal Requirements, Encumbrances and all other requirements of this Master Lease, (d) with all Tenant’s Property removed and all Alterations removed which Tenant is entitled to remove and has elected to remove in its sole discretion (and the Demised Premises completely restored with respect to all of the removed Alterations), (e) with all Known Environmental Problems remediated only as and to the extent expressly provided in Schedule 20.3 to the Side Letter, and otherwise subject to Section 20.3(b) including with respect to all SACs in respect of such Known Environmental Problems, with all hydraulic lifts and pits, waste-handling equipment, oil-water separators and all other machinery, facilities and equipment for SAC operations removed, whether located at the SACs or elsewhere on or about the Demised Premises as and to the extent required by Environmental Law, and (f) free and clear of all Encumbrances, other than (x) Permitted Encumbrances (except for (A) Excepted Liens and (B) Subleases, the Sears Hometown License Agreement, and the Lands’ End Agreements), and (y) Permitted Encumbrances (excluding Excepted Liens, except in the case of a Master Lease termination with respect to the Recapture Space in which the Master Lease continues with respect to the Tenant Retained Space, in which case Excepted Liens shall be permitted so long as Security for Excepted Liens is provided to Landlord) and Landlord Encumbrances (provided, however, that Tenant shall remain liable for the payment and discharge of all Excepted Liens). Notwithstanding the foregoing, in the event of a Master Lease termination as a result of casualty or Condemnation, the foregoing provisions with respect to Alterations, and subparagraph (b), shall not apply to the extent affected by such casualty or Condemnation.
Appears in 2 contracts
Samples: Master Lease (Sears Holdings Corp), Master Lease (Seritage Growth Properties)
Delivery of Demised Premises. Upon the expiration or termination of this Master Lease from whatsoever cause with respect to any or all of the Demised Premises or a portion thereof, including without limitation any termination under Section 1.6, 1.7 or 1.8, with respect to casualty or Condemnation, or as a result of any Event of Default, Tenant shall surrender and deliver the affected Demised Premises to Landlord, together with all Alterations which are Landlord’s property under this Master Lease, (a) vacant and free from all occupants and tenancies, including without limitation all Subleases, (b) broom-clean and in proper order and condition of repair as required by the other provisions of this Master Lease, reasonable wear and tear excepted, (c) in compliance with all Legal Requirements, Encumbrances and all other requirements of this Master Lease, (d) with all Tenant’s Property removed and all Alterations removed which Tenant is entitled to remove and has elected to remove in its sole discretion (and the Demised Premises completely restored with respect to all of the removed Alterations), (e) with all Known Environmental Problems remediated only as and to the extent expressly provided in Schedule 20.3 to the Side Letter20.3, and otherwise subject to Section 20.3(b) including with respect to all SACs in respect of such Known Environmental Problems, with all hydraulic lifts and pits, waste-handling equipment, oil-water separators and all other machinery, facilities and equipment for SAC operations removed, whether located at the SACs or elsewhere on or about the Demised Premises as and to the extent required by Environmental Law, and (f) free and clear of all Encumbrances, other than (x) Permitted Encumbrances (except for (A) Excepted Liens and (B) Subleases, the Sears Hometown License Agreement, and the Lands’ End Agreements), and (y) Permitted Encumbrances (excluding Excepted Liens, except in the case of a Master Lease termination with respect to the Recapture Space in which the Master Lease continues with respect to the Tenant Retained Space, in which case Excepted Liens shall be permitted so long as Security for Excepted Liens is provided to Landlord) and Landlord Encumbrances (provided, however, that Tenant shall remain liable for the payment and discharge of all Excepted Liens). Notwithstanding the foregoing, in the event of a Master Lease termination as a result of casualty or Condemnation, the foregoing provisions with respect to Alterations, and subparagraph (b), shall not apply to the extent affected by such casualty or Condemnation.
Appears in 1 contract
Delivery of Demised Premises. Upon a. On the expiration or termination Effective Date, Apertus shall deliver the Demised Premises, other than the Subleased Premises and the Leaseback Premises, to Assignee, and Assignor shall remove all of Assignor's personal property therefrom. Assignor shall also surrender the Leaseback Premises to Assignee at the end of the term of the Leaseback Agreement, as provided in Paragraph 3 of this Master Lease Assignment, and Assignor shall remove of Assignor's personal property from whatsoever cause the Leaseback Premises. Assignor and Assignee further agree that the fixtures identified in Exhibit D to this Assignment shall remain the property of Assignor and may be removed from the Demised Premises by Assignor even though said fixtures are attached to the building in which the Demised Premises are located.
b. Assignor represents to Assignee that, as of the date of this Assignment, Assignor has no knowledge of any violations of any law, governmental ordinance or code, including the Americans With Disabilities Act, applicable to the Demised Premises as currently used by Assignor and/or Sublessee. Assignee acknowledges that, in the event Assignee remodels or reconstructs the second level of the Demised Premises, the installation of an elevator may be required at Assignee's expense. With the exception of the foregoing representation, Assignee agrees it is leasing and accepts the Demised Premises "as is", "where is" and with respect all faults. Without limiting the generality of the foregoing, Assignor shall have no obligation to make, supply or perform any alteration, services, material, fixtures, equipment or all decorations to the Demised Premises nor shall Assignor have any obligations regarding compliance of the Demised Premises and Assignee's use thereof with the Americans With Disabilities Act. In entering into this Assignment, Assignee has relied solely on its own investigation, examinations and inspections of the Demised Premises, and Assignee acknowledges Assignor has afforded Assignee the opportunity for a full and complete investigation, examination and inspection of the Demised Premises.
c. Assignor agrees Assignee shall be entitled to take possession of the Demised Premises, other than the Subleased Premises and the Leaseback Premises, prior to the Effective Date at such time as written consent of the Landlord to this Assignment has been obtained in accordance with the provisions of Paragraph 6 hereof, subject to the following conditions:
i) Assignee shall not be obligated to pay Base Rent, Operating Expenses or a Real Estate Taxes prior to the Effective Date, but Assignee shall pay for all utility services provided to that portion thereof, including without limitation any termination under Section 1.6, 1.7 or 1.8, with respect to casualty or Condemnation, or as a result of any Event of Default, Tenant shall surrender and deliver the affected Demised Premises occupied by Assignee; and
ii) Prior to Landlordoccupying the Demised Premises, together Assignee shall provide Assignor with all Alterations which are Landlord’s property under Certificates of Insurance complying with the requirements of the Lease and this Master Lease, (a) vacant and free from all occupants and tenancies, including without limitation all Subleases, (b) broom-clean and in proper order and condition of repair as Assignment.
d. Assignee acknowledges it is required by the other provisions terms of this Master Lease, reasonable wear and tear excepted, (c) in compliance with all Legal Requirements, Encumbrances and all other requirements of this Master Lease, (d) with all Tenant’s Property removed and all Alterations removed which Tenant is entitled the Lease to remove and has elected obtain the Landlord's approval prior to remove in its sole discretion (and performing any modifications or improvements to the Demised Premises completely restored with respect Premises. In the event Assignee undertakes any tenant improvement or construction work prior to all the end of the removed Alterations), (e) with all Known Environmental Problems remediated only as and to term of the extent expressly provided in Schedule 20.3 to the Side Letter, and otherwise subject to Section 20.3(b) including with respect to all SACs in respect of such Known Environmental Problems, with all hydraulic lifts and pits, waste-handling equipment, oil-water separators and all other machinery, facilities and equipment for SAC operations removed, whether located at the SACs or elsewhere on or about the Demised Premises as and to the extent required by Environmental Law, and (f) free and clear of all Encumbrances, other than (x) Permitted Encumbrances (except for (A) Excepted Liens and (B) Subleases, the Sears Hometown License Leaseback Agreement, and Assignee agrees to perform such work in a manner that will not unreasonably interfere with the Lands’ End Agreements), and (y) Permitted Encumbrances (excluding Excepted Liens, except in conduct of Assignor's business within the case of a Master Lease termination with respect to the Recapture Space in which the Master Lease continues with respect to the Tenant Retained Space, in which case Excepted Liens shall be permitted so long as Security for Excepted Liens is provided to Landlord) and Landlord Encumbrances (provided, however, that Tenant shall remain liable for the payment and discharge of all Excepted Liens). Notwithstanding the foregoing, in the event of a Master Lease termination as a result of casualty or Condemnation, the foregoing provisions with respect to Alterations, and subparagraph (b), shall not apply to the extent affected by such casualty or CondemnationLeaseback Premises.
Appears in 1 contract
Samples: Assignment and Assumption of Lease (Apertus Technologies Inc)
Delivery of Demised Premises. Upon the expiration or termination of this Master Lease from whatsoever cause with respect to any or all of the Demised Premises or a portion thereof, including without limitation any termination under Section 1.6, 1.7 or 1.8, with respect to casualty or Condemnation, or as a result of any Event of Default, Tenant shall surrender and deliver the affected Demised Premises to Landlord, together with all Alterations which are Landlord’s property under this Master Lease, (a) vacant and free from all occupants and tenancies, including without limitation all Subleases, (b) broom-clean broom‑clean and in proper order and condition of repair as required by the other provisions of this Master Lease, reasonable wear and tear excepted, (c) in compliance with all Legal Requirements, Encumbrances and all other requirements of this Master Lease, (d) with all Tenant’s Property removed and all Alterations removed which Tenant is entitled to remove and has elected to remove in its sole discretion (and the Demised Premises completely restored with respect to all of the removed Alterations), (e) with all Known Environmental Problems remediated only as and to the extent expressly provided in Schedule 20.3 to the Side Letter, and otherwise subject to Section 20.3(b) including with respect to all SACs in respect of such Known Environmental Problems, with all hydraulic lifts and pits, waste-handling waste‑handling equipment, oil-water oil‑water separators and all other machinery, facilities and equipment for SAC operations removed, whether located at the SACs or elsewhere on or about the Demised Premises as and to the extent required by Environmental Law, and (f) free and clear of all Encumbrances, other than (x) Permitted Encumbrances (except for (A) Excepted Liens and (B) Subleases, the Sears Hometown License Agreement, and the Lands’ End Agreements), and (y) Permitted Encumbrances (excluding Excepted Liens, except in the case of a Master Lease termination with respect to the Recapture Space in which the Master Lease continues with respect to the Tenant Retained Space, in which case Excepted Liens shall be permitted so long as Security for Excepted Liens is provided to Landlord) and Landlord Encumbrances (provided, however, that Tenant shall remain liable for the payment and discharge of all Excepted Liens). Notwithstanding the foregoing, in the event of a Master Lease termination as a result of casualty or Condemnation, the foregoing provisions with respect to Alterations, and subparagraph (b), shall not apply to the extent affected by such casualty or Condemnation.
Appears in 1 contract