Common use of Furniture, Fixtures and Equipment Clause in Contracts

Furniture, Fixtures and Equipment. Manager agrees to provide or have provided to Medical Offices those supplies and items of furniture, fixtures and equipment as are customarily required for the Practice and as are determined by Manager, and approved by Practice, to be necessary and/or appropriate for Practice's proper and effective operations at the Medical Offices during the term of this Agreement (all such items of furniture, fixtures and equipment are collectively referred to hereinafter as the "FFE") subject, however, to the following conditions: (a) Practice shall have the use of the FFE only during the term of this Agreement and title to the FFE shall be and remain in Parent and/or Manager at all times during such term except as otherwise provided herein. (b) Manager shall be responsible for, and pay for out of Net Practice Revenues or other sources, all repairs, maintenance and replacement of the FFE. However, repairs, replacements and new equipment, each of which costing more than $500 will be capitalized, such that Manager shall fund same from its own capital and charge to Practice as a Practice Expense depreciation of the capital item on a straight line basis in accordance with GAAP and interest expense related thereto at the interest rate charged by Manager's "Credit Facility Lender".