Common use of Existence; Use of Leased Property; Legal Compliance; Insurance Clause in Contracts

Existence; Use of Leased Property; Legal Compliance; Insurance. (i) Tenant shall do or cause to be done all things necessary to preserve, renew and keep in full force and effect its existence, rights, licenses, permits and franchises and comply in all material respects with all Legal Requirements applicable to it and the Leased Property. Tenant shall at all times maintain and preserve the Leased Property and shall keep the Leased Property in good working order and repair, reasonable wear and tear excepted, and from time to time make, or cause to be made, all reasonably necessary repairs, renewals, replacements, betterments and improvements thereto; provided that Tenant shall, without the consent of Landlord, make no Alteration to any Leased Property which constitutes "Nonseverable Improvements" as such term is used in Section 4(4).03 of IRS Revenue Procedure 75-21, as modified by IRS Revenue Procedure 79-48, unless the conditions of Section 4(4).03(B) are satisfied and the alteration is described in at least one of the subparagraphs of Section 4(4).03(C). Tenant will operate, maintain, repair and improve the Leased Property in material compliance with all Legal Requirements, and will not cause or allow the same to be misused or wasted or to deteriorate, reasonable wear and tear excepted. (ii) After the Commencement Date and throughout the entire Term, Tenant shall use the applicable Leased Property and the Leased Improvements thereof as a dry and cold storage warehousing facility and for such other uses as may be necessary or incidental to such use, including the provision of distribution services (such use, the "Primary Intended Use") and, notwithstanding any restrictions on subletting contained herein, Landlord hereby agrees that Tenant shall have the right to enter into Warehouse Agreements. Tenant shall not use the applicable Leased Property or any portion thereof for any other use without the prior written consent of Landlord, which consent shall not be unreasonably withheld or delayed (taking into account, among other things, the provisions hereof relating to Percentage Rent). No use shall be made or permitted to be made of a Leased Property, and no acts shall be done, that will cause the cancellation of any insurance policy covering such Leased Property, nor shall Tenant sell or otherwise provide, or permit to be kept, used or sold in or about such Leased Property any article which may be prohibited by law or by Insurance Requirements. Tenant shall, at its sole cost, comply with all of the requirements pertaining to the Leased Property or other improvements of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Tenant's Personal Property. Absent force majeure and any other event beyond the reasonable control of Tenant, and except during a period following a Casualty or Condemnation or in which an Alteration is being performed, Tenant shall continuously operate the Leased Property for its Primary Intended Use.

Appears in 3 contracts

Samples: Master Lease Agreement (Vornado Operating Co), Master Lease Agreement (Vornado Operating Co), Master Lease Agreement (Vornado Operating Co)

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Existence; Use of Leased Property; Legal Compliance; Insurance. (i) Tenant shall do or cause to be done all things necessary to preserve, renew and keep in full force and effect its existence, rights, licenses, permits and franchises and comply in all material respects with all Legal Requirements and all Property Documents applicable to it and the Leased Property. Tenant shall at all times maintain and preserve the Leased Property and shall keep the Leased Property in good working order and repair, reasonable wear and tear excepted, and from time to time make, or cause to be made, all reasonably necessary repairs, renewals, replacements, betterments and improvements thereto; provided that Tenant shall, without the consent of Landlord, make no Alteration to any Leased Property which constitutes "Nonseverable Improvements" as such term is used in Section 4(4).03 of IRS Revenue Procedure 75-21, as modified by IRS Revenue Procedure 79-48, unless the conditions of Section 4(4).03(B) are satisfied and the alteration is described in at least one of the subparagraphs of Section 4(4).03(C). Tenant will operate, maintain, repair and improve the Leased Property in material compliance with all Legal RequirementsRequirements and all Property Documents, and will not cause or allow the same to be misused or wasted or to deteriorate, reasonable wear and tear excepted. (ii) After the Commencement Date and throughout the entire Term, Tenant shall may use the applicable Leased Property and the Leased Improvements thereof as a dry and cold storage warehousing facility and for (x) retail uses and, provided the same are not prohibited by the applicable Property Documents, for such other uses as may be necessary or incidental to such use, including the provision of distribution services use (such use, the "Primary Intended Use"”), and (y) and, notwithstanding any restrictions on subletting contained herein, Landlord hereby agrees that Tenant such other uses as shall have not be prohibited by the right to enter into Warehouse Agreementsapplicable Property Documents or other provisions hereof. Tenant shall not use the applicable Leased Property or any portion thereof for any other use without the prior written consent of Landlord, which consent shall not be unreasonably withheld or delayed (taking into account, among other things, the provisions hereof relating to Percentage Rent)delayed. No use shall be made or permitted to be made of a Leased Property, and no acts shall be done, that will cause the cancellation of any insurance policy covering such Leased Property, nor shall Tenant sell or otherwise provide, or permit to be kept, used or sold in or about such Leased Property any article which may be prohibited by law or by Insurance Requirements. Tenant shall, at its sole cost, comply with all of the requirements pertaining to the Leased Property or other improvements of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Tenant's Personal Property. Absent force majeure and any other event beyond the reasonable control of Tenant, and except during a period following a Casualty or Condemnation or in which an Alteration is being performed, Tenant shall continuously operate the Leased Property for its Primary Intended Use.

Appears in 2 contracts

Samples: Master Lease Agreement (Toys R Us Property Co II, LLC), Master Lease Agreement (Toys R Us Property Co II, LLC)

Existence; Use of Leased Property; Legal Compliance; Insurance. (i) Tenant shall do or cause to be done all things necessary to preserve, renew and keep in full force and effect its existence, rights, licenses, permits and franchises and comply in all material respects with all Legal Requirements and all Property Documents applicable to it and the Leased Property, including all gaming-related licenses and permits, provided that, except where the terms of this Lease expressly require Tenant to comply with or perform the covenants and obligations of Landlord’s Loan Documents, Tenant shall not be deemed to have agreed to comply with or perform said covenants or obligations of Landlord’s Loan Documents, notwithstanding that Tenant is obligated to observe or perform the Property Documents. Tenant shall at all times maintain and preserve the Leased Property and shall keep the Leased Property in good working order and repair, reasonable wear and tear excepted, and from time to time make, or cause to be made, all reasonably necessary repairs, renewals, replacements, betterments and improvements thereto; provided that Tenant shall, without the consent of Landlord, make no Alteration to any Leased Property which constitutes "Nonseverable Improvements" as such term is used in Section 4(4).03 of IRS Revenue Procedure 75-21, as modified by IRS Revenue Procedure 79-48, unless the conditions of Section 4(4).03(B) are satisfied and the alteration is described in at least one of the subparagraphs of Section 4(4).03(C). Tenant will operate, maintain, repair and improve the Leased Property in material compliance with all Legal RequirementsRequirements and all Property Documents, and will not cause or allow the same to be misused or wasted or to deteriorate, reasonable wear and tear excepted. (ii) After the Commencement Date and throughout the entire Term, Tenant shall may use the applicable Leased Property and the Leased Improvements thereof as a dry and cold storage warehousing facility and for (x) their current purpose and, provided the same are permitted pursuant to the terms of the applicable Property Documents, for such other uses as may be necessary or incidental to such use, including the provision of distribution services use (such use, the "Primary Intended Use"”), and (y) andsuch other uses as shall not be prohibited by the applicable Property Documents, notwithstanding any restrictions on subletting contained herein, Landlord hereby agrees that Tenant shall have the right to enter into Warehouse AgreementsLandlord’s Loan Documents or other provisions hereof. Tenant shall not use the applicable Leased Property or any portion thereof for any other use without the prior written consent of Landlord, which consent shall not be unreasonably withheld withheld, conditioned or delayed (taking into account, among other things, the provisions hereof relating to Percentage Rent)delayed. No use shall be made or permitted to be made of a the Leased Property, and no acts shall be done, that will cause the cancellation of any insurance policy covering such the Leased Property, nor shall Tenant sell or otherwise provide, or permit to be kept, used or sold in or about such the Leased Property any article which may be prohibited by law or by Insurance Requirements. Tenant shall, at its sole cost, comply with all of the requirements pertaining to the Leased Property or other improvements of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Tenant's Personal Property. Absent force majeure and any other event beyond the reasonable control of Tenant, and except during a period following a Casualty or Condemnation or in which an Alteration is being performed, . (iii) Tenant shall continuously operate cause each of the hotel and casino facilities located on the Leased Property (each such hotel and casino facility, together with all other portions of the Leased Property related thereto, a “Facility”) to be continuously and uninterruptedly used and operated for its Primary Intended Use, open for business to the public during all business hours usual for such use for comparable properties in Xxxxx County, Nevada (including, without limitation, causing to be maintained at each of the Facilities FF&E sufficient to support such continuous and uninterrupted use and operation, which FF&E shall be of a caliber at least equivalent to the FF&E maintained at each of the Facilities on the Commencement Date), subject to periods of closure that: (i) are due to Alterations (and provided that not more than one Facility may be closed in connection with an Alteration at any one time unless such concurrent closure is expressly pre-approved by Landlord’s Lender in writing or is unavoidable in order for Landlord, Tenant or the applicable Facility Subtenant to comply with Legal Requirements) or any event described in the definition of Unavoidable Delays; and (ii) do not in any event exceed (A) solely with respect to a closure due to Casualty for which business interruption insurance proceeds are payable to Tenant (or Landlord or Landlord’s Lender) under the policy of business interruption insurance maintained by Tenant pursuant to the terms of this Lease, the period of time for which such business interruption insurance proceeds are payable, or (B) as to any other closure, thirty (30) consecutive days.

Appears in 1 contract

Samples: Master Lease Agreement (Station Casinos Inc)

Existence; Use of Leased Property; Legal Compliance; Insurance. (i) Tenant shall do or cause to be done all things necessary to preserve, renew and keep in full force and effect its existence, rights, licenses, permits and franchises as necessary in the conduct of its business on the Leased Property and comply in all material respects with all Legal Requirements and all Property Documents applicable to it and the Leased PropertyProperty in connection therewith. Subject to Landlord’s obligations under Articles X and XI, Tenant shall at all times maintain and preserve the Leased Property and shall keep the Leased Property in good working order and repair, reasonable wear and tear excepted, and from time to time make, or cause to be made, all reasonably necessary repairs, renewals, renewals and replacements, betterments and improvements thereto; provided that Tenant shall, without the consent of Landlord, make no Alteration to any Leased Property which constitutes "Nonseverable Improvements" as such term is used in Section 4(4).03 of IRS Revenue Procedure 75-21, as modified by IRS Revenue Procedure 79-48, unless the conditions of Section 4(4).03(B) are satisfied and the alteration is described in at least one of the subparagraphs of Section 4(4).03(C). Tenant will operate, maintain, maintain and repair and improve the Leased Property in material compliance with all Legal RequirementsRequirements and all Property Documents, and will not cause or allow the same to be misused or wasted or to deteriorate, reasonable wear and tear excepted. (ii) After the Commencement Date and throughout the entire Term, Tenant shall may use the applicable Leased Property and the Leased Improvements thereof for (x) their current purpose as a dry and cold storage warehousing facility and full service restaurant (including any of the Concepts) and, provided the same are permitted pursuant to the terms of the applicable Property Documents, for such other uses as may be necessary or incidental to such use, including the provision of distribution services use (such use, the "Primary Intended Use"”), (y) andsuch other current uses of the Leased Property as of the date hereof that are not prohibited by the applicable Property Documents or other provisions hereof and (z) in connection with any Sublease any individual Leased Property (or portion thereof), notwithstanding any restrictions on subletting contained herein, Landlord hereby agrees that Tenant shall have other lawful use not prohibited by the right to enter into Warehouse Agreementsapplicable Property Documents so long as the remainder of such individual Leased Property is used for the Primary Intended Use. Tenant shall not use the applicable Leased Property or any portion thereof for any other use without the prior written consent of Landlord, which consent shall not be unreasonably withheld or delayed (taking into account, among other things, the provisions hereof relating to Percentage Rent)delayed. No use shall be made or permitted to be made of a Leased Property, and no acts shall be done, that will cause the cancellation of any insurance policy covering such Leased Property, nor shall Tenant sell or otherwise provide, or permit to be kept, used or sold in or about such Leased Property any article which may be prohibited by applicable law or by Insurance Requirements. Tenant shall, at its sole cost, comply with all of the requirements pertaining to the Leased Property or other improvements of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Tenant's Personal Property. Absent force majeure and any other event beyond the reasonable control of Tenant, and except during a period following a Casualty or Condemnation or in which an Alteration is being performed, Tenant shall continuously operate the Leased Property for its Primary Intended Use.

Appears in 1 contract

Samples: Master Lease Agreement (Cheeseburger-Ohio, Limited Partnership)

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Existence; Use of Leased Property; Legal Compliance; Insurance. (i) Tenant shall do or cause to be done all things necessary to preserve, renew and keep in full force and effect its existence, rights, licenses, permits and franchises and comply in all material respects with all Legal Requirements and all Property Documents applicable to it and or the Leased Property. Tenant shall at all times maintain and preserve the Leased Property and shall keep the Leased Property in good working order and repair, reasonable wear and tear excepted, and from time to time make, or cause to be made, all reasonably necessary repairs, renewals, replacements, betterments and improvements thereto; provided that Tenant shall, without the consent of Landlord, make no Alteration to any Leased Property which constitutes "Nonseverable Improvements" as such term is used in Section 4(4).03 of IRS Revenue Procedure 75-21, as modified by IRS Revenue Procedure 79-48, unless the conditions of Section 4(4).03(B) are satisfied and the alteration is described in at least one of the subparagraphs of Section 4(4).03(C). Tenant will operate, maintain, repair and improve the Leased Property in material compliance with all Legal RequirementsRequirements and all Property Documents, and will not cause or allow the same to be misused or wasted or to deteriorate, reasonable wear and tear excepted. (ii) After the Commencement Date and throughout the entire Term, Tenant shall may use the applicable Leased Property and the Leased Improvements thereof for (x) as a dry and cold storage warehousing facility and retail properties and, provided the same are not prohibited by the applicable Property Documents, for such other uses as may be necessary or incidental to such use, including the provision of distribution services use (such use, the "Primary Intended Use"”), and (y) and, notwithstanding any restrictions on subletting contained herein, Landlord hereby agrees that Tenant such other uses as shall have not be prohibited by the right to enter into Warehouse Agreementsapplicable Property Documents or other provisions hereof. Tenant shall not use the applicable Leased Property or any portion thereof for any other use without the prior written consent of Landlord, which consent shall not be unreasonably withheld or delayed (taking into accountdelayed, among other thingsand, if and to the provisions hereof relating extent required pursuant to Percentage Rent)Landlord’s Debt Documents, Landlord’s Lender. No use shall be made or permitted to be made of a Leased Property, and no acts shall be done, that will cause the cancellation of any insurance policy covering such Leased Property, nor shall Tenant sell or otherwise provide, or permit to be kept, used or sold in or about such Leased Property any article which may be prohibited by law or by Insurance Requirements. Tenant shall, at its sole cost, comply with all of the requirements pertaining to the Leased Property or other improvements of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Tenant's Personal Property. Absent force majeure and any other event beyond the reasonable control of Tenant, and except during a period following a Casualty or Condemnation or in which an Alteration is being performed, Tenant shall continuously operate the Leased Property for its Primary Intended Use.

Appears in 1 contract

Samples: Master Lease Agreement (Toys R Us Property Co I, LLC)

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