Existing Personalty Clause Samples
The 'Existing Personalty' clause defines and governs the treatment of personal property that is already present at a specified location prior to the commencement of an agreement, such as a lease or sale. This clause typically clarifies which items of movable property (like furniture, equipment, or appliances) are included or excluded from the transaction, and may specify the condition, ownership, or responsibility for these items. Its core practical function is to prevent disputes by clearly identifying what personal property is considered part of the agreement, ensuring both parties have a mutual understanding of what is included and who is responsible for it.
Existing Personalty. 53.01 Tenant acknowledges that Landlord has advised Tenant that the prior occupant of a portion of the Premises, Vardon Capital Management, LLC (“Vardon”) has advised Landlord that it intends to leave behind certain furniture, furnishings and telecommunications equipment, as more particularly described on the inventory list annexed hereto and made a part hereof as Exhibit E (collectively, the “Personalty”) upon its surrender of the Premises. In furtherance thereof, pursuant to a written agreement between Vardon and Landlord, Vardon has surrendered to Landlord all right, title and interest of Vardon in and to the Personalty. Landlord hereby remises, releases and quitclaims to Tenant all of Landlord’s right, title and interest, if any, in and to the Personalty; and, further, Landlord hereby assigns to Tenant any and all rights of Landlord to claim over against Vardon in the event that any claims arise against Tenant concerning title in and to the Personalty. Tenant hereby acknowledges and agrees that (i) Landlord makes no representations or warranties concerning the condition of, title to or rightful ownership of the Personalty or that all or any particular item of the Personalty will be left behind in the Premises by Vardon for Tenant’s use hereunder; and (ii) Landlord shall have no liability to Tenant, and Tenant hereby releases Landlord from any liability, in connection with any claims by third parties asserting title to or an interest in any or all of the Personalty. Tenant covenants that should a third party be found to have title to or an interest in any or all of the Personalty superior to the interest of Tenant therein, Tenant shall promptly surrender such portion of the Personalty to such third party, to the extent that Tenant remains in control or possession thereof, in which event Tenant shall have no claim against Landlord for any credit, set-off or abatement against Rent or to terminate this Lease.
Existing Personalty. All office furnishings and equipment and all medical equipment of Lessee, as updated, replaced and expanded from time to time (collectively, the “Existing Personalty”) belongs to Lessee and title thereto shall remain vested in Lessee. Lessee shall maintain insurance on the Existing Personalty pursuant to and in accordance with the provisions of Section 6.03 below. Lessee may utilize such Existing Personalty during the Lease Term; provided, however, that Lessee utilizes such Existing Personalty “AS IS” and “WHERE IS” without representation or warranty of any kind by Lessor, and Lessee shall defend, indemnify, protect and hold the Indemnified Parties harmless from and against any and all Losses resulting from Lessee’s use of the Existing Personalty. Lessee shall maintain and repair such Existing Personalty and upon the expiration or sooner termination of this Lease, Lessee shall either leave the Existing Personalty on the Property in the same condition as of the Effective Date, normal wear and tear excepted, or remove the Existing Personalty in the same manner as set forth for personalty in Section 3.04 above, at Lessee’s sole option.
Existing Personalty. Landlord owns all furniture, trade fixtures, appliances, equipment and other personal property located upon any Property as of the Lease Commencement Date excluding moveable medical equipment, with such personalty and moveable medical equipment generally identified on Schedule 3.04 attached hereto. The existing personalty excluding moveable medical equipment set forth on Schedule 3.04 and any other such personalty on the Property as of the Lease Commencement Date is hereinafter the “Existing Personalty”. Tenant shall maintain insurance on the Existing Personalty pursuant to and in accordance with the provisions of Section 6.03 below; and Tenant may utilize such Existing Personalty during the Lease Term; provided, however, that Tenant utilizes such Existing Personalty “AS IS” and “WHERE IS” without representation or warranty of any kind by Landlord, and Tenant shall defend, indemnify, protect and hold the Indemnified Parties harmless from and against any and all Losses resulting from Tenant’s use of the Existing Personalty. Tenant shall maintain, repair and replace such Existing Personalty and upon the expiration or sooner termination of this Lease, at Landlord’s option, Tenant shall either leave the Existing Personalty on the Property in the same condition as of the Lease Commencement Date, normal wear and tear excepted, or remove the Existing Personalty in the same manner as set forth for Tenant’s Personalty in Section 3.03 above.
Existing Personalty. To the extent that there is any furniture, trade fixtures, equipment or other personal property located upon the Property as of the Effective Date (collectively, the “Existing Personalty”), such Existing Personalty is the property of Tenant; Tenant shall maintain insurance on the Existing Personalty pursuant to and in accordance with the provisions of Section 7.03 below.
Existing Personalty. All furniture, trade fixtures, appliances, equipment and personal property located on the Property as of the Lease Commencement Date, less and except all moveable medical equipment, all of which is owned or leased by Tenant and known as the “Tenant Medical Equipment”, all as more particularly identified on the exhibit attached to this Schedule 3.04. The Tenant Medical Equipment shall belong to Tenant and Tenant shall retain the duty to insure such Tenant Medical Equipment and to maintain, repair and replace such Tenant Medical Equipment.