Common use of Improvements and Fixtures Clause in Contracts

Improvements and Fixtures. Section 22.01 Any and all portions of the Building, all other improvements on the Real Property at the Commencement Date and all Building Equipment on the Demised Property at the Commencement Date shall be the property of Landlord (excluding the trade fixtures and the Restaurant Equipment). In the event that Tenant installs or erects fixtures or improvements to the Demised Property after the Commencement Date (excluding the trade fixtures and Restaurant Equipment), such fixtures or improvements shall at the expiration or earlier termination of the Lease, become the property of Landlord and remain upon and be surrendered with the Demised Property. Notwithstanding the foregoing provisions, Tenant shall be liable for all property taxes, assessments, and similar charges assessed against or allocable to any fixtures or equipment at the Demised Property (irrespective of whether such items are Building Equipment owned by Landlord or Restaurant Equipment or other personal property of Tenant) and which are attributable to any period of time during the Lease Term. Section 22.02 During the Lease Term, Tenant shall be entitled to use the Building Equipment in Tenant’s operations at the Demised Property. Except as otherwise provided in Section 22.04, Tenant shall keep the Building Equipment in good working order and repair, shall not remove the Building Equipment from the Demised Property and shall not permit any lien or other encumbrance to attach to Building Equipment except any such liens that are being contested by Tenant in good faith by appropriate proceedings and that have been bonded over by Tenant to the commercially reasonable satisfaction of Landlord or for which Tenant provides alternative security to the commercially reasonable satisfaction of Landlord. Tenant shall keep (or cause to be kept) the Building Equipment insured and shall be responsible for any casualty or other loss to Building Equipment or occasioned by Building Equipment. Tenant may, from time to time, retire or replace Building Equipment with new or comparable items of equipment purchased by Tenant, in which event such replaced equipment shall constitute Building Equipment. All Building Equipment shall be the property of Landlord, and Tenant shall execute such instruments and documents as Landlord may reasonably require to evidence such ownership by Landlord. (a) Without limiting Landlord’s rights or Tenant’s obligations in subsection (b), Tenant shall deliver to Landlord within thirty (30) days following Tenant’s receipt of Landlord’s written request (i) to the extent in Tenant’s possession and/or control, a complete listing of all Restaurant Equipment, which may be in electronic format, to the extent not previously delivered to Landlord, and (ii) any fixed asset report relating to the Restaurant Equipment in Tenant’s possession and/or control, to the extent not previously delivered to Landlord; provided that Landlord shall have the right to deliver such request not more than one time in any 12 month period during the Lease Term and provided that Tenant’s delivery of such information in (i) and (ii) shall be without any representation or warranty as to such information’s accuracy or completeness. (b) At any time during the occurrence of any Event of Default, and during the occurrence of any Default caused by the failure of Tenant to pay any amount as and when due from Tenant under the Lease, and within ninety (90) days before the expiration of the Lease Term, Tenant shall deliver to Landlord immediately following Tenant’s receipt of Landlord’s written request (i) to the extent in Tenant’s possession and/or control, a complete listing of all Restaurant Equipment, which may be in electronic format, to the extent not previously delivered to Landlord, and (ii) any fixed asset report relating to the Restaurant Equipment in Tenant’s possession and/or control, to the extent not previously delivered to Landlord; provided that Tenant’s delivery of such information in (i) and (ii) shall be without any representation or warranty as to such information’s accuracy or completeness. (c) Without limiting Article XX, at any time during the Lease Term, upon not less than forty-eight hours’ prior written notice to Tenant, Landlord may enter upon the Demised Property at reasonable hours to inspect and inventory the Restaurant Equipment provided that (i) such inspection and inventory shall not unreasonably interfere with Tenant’s ability to conduct its business operations at the Demised Property, (ii) Landlord shall have the right to such inspection and inventory not more than one time in any 12 month period during the Lease Term, (iii) at Tenant’s option, such inspection and inventory shall not be conducted during normal business hours and Tenant may provide an escort for Landlord during any such inspection and inventory (provided further that Landlord’s right to such inspection and inventory shall not be subject to the availability or presence of any such escort), and (iv) Landlord shall promptly pay the costs of any damage caused by Landlord and/or its agents to any Restaurant Equipment in connection with such inspection and inventory. (d) Without limiting Article XX, at any time during the occurrence of any Event of Default or any Default in connection with any payment due and payable by Tenant under the Lease and within ninety (90) days before the expiration of the Lease Term, Landlord may enter (without any notice) upon the Demised Property to inspect and inventory the Restaurant Equipment; provided that (i) such inspection and inventory shall not unreasonably interfere with Tenant’s ability to conduct its business operations at the Demised Property, (ii) at Tenant’s option, such inspection and inventory shall not be conducted during normal business hours and Tenant may provide an escort for Landlord during any such inspection and inventory (provided further that Landlord’s right to such inspection and inventory shall not be subject to the availability or presence of any such escort), and (iii) Landlord shall promptly pay the costs of any damage caused by Landlord and/or its agents to any Restaurant Equipment in connection with such inspection and inventory. (e) Tenant shall not commit waste with respect to the Restaurant Equipment located in the Demised Property and shall not remove the Restaurant Equipment from the Demised Property (except to the extent it is replaced by equipment of equal or greater quality and utility). Tenant shall keep the Restaurant Equipment insured and shall be responsible for any casualty or other loss to Restaurant Equipment or occasioned by Restaurant Equipment. Tenant may, from time to time, retire or replace Restaurant Equipment with new items of equipment purchased by Tenant, in which event such replaced equipment shall constitute Restaurant Equipment. (f) Landlord shall execute and deliver a lien waiver agreement in form and substance commercially reasonably satisfactory to Landlord to any lender of the Restaurant Equipment.

Appears in 1 contract

Samples: Master Land and Building Lease (Ryan's Restaurant Leasing Company, LLC)

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Improvements and Fixtures. Section 22.01 Any and all portions of the Building, all other improvements on the Real Property at the Commencement Date and all Building Equipment on the Demised Property Properties at the Commencement Date shall be the property of Landlord (excluding the trade fixtures and the Restaurant Equipment). In the event that Tenant installs or erects fixtures or improvements to the Demised Property Properties after the Commencement Date (excluding the trade fixtures and Restaurant Equipment), such fixtures or improvements shall at the expiration or earlier termination of the Lease, become the property of Landlord and remain upon and be surrendered with the Demised PropertyProperties. Notwithstanding the foregoing provisions, Tenant shall be liable for all property taxes, assessments, and similar charges assessed against or allocable to any fixtures or equipment at the Demised Property Properties (irrespective of whether such items are Building Equipment owned by Landlord or Restaurant Equipment or other personal property of Tenant) and which are attributable to any period of time during the Lease Term. Section 22.02 During the Lease Term, Tenant shall be entitled to use the Building Equipment in Tenant’s operations at the Demised PropertyProperties. Except as otherwise provided in Section 22.04, Tenant shall keep the Building Equipment in good working order and repair, shall not remove the Building Equipment from the Demised Property Properties and shall not permit any lien or other encumbrance to attach to Building Equipment except any such liens that are being contested by Tenant in good faith by appropriate proceedings and that have been bonded over by Tenant to the commercially reasonable satisfaction of Landlord or for which Tenant provides alternative security to the commercially reasonable satisfaction of Landlord. Tenant shall keep (or cause to be kept) the Building Equipment insured and shall be responsible for any casualty or other loss to Building Equipment or occasioned by Building Equipment. Tenant may, from time to time, retire or replace Building Equipment with new or comparable items of equipment purchased by Tenant, in which event such replaced equipment shall constitute Building Equipment. All Building Equipment shall be the property of Landlord, and Tenant shall execute such instruments and documents as Landlord may reasonably require to evidence such ownership by Landlord. (a) Without limiting Landlord’s rights or Tenant’s obligations in subsection (b), Tenant shall deliver to Landlord within thirty (30) days following Tenant’s receipt of Landlord’s written request (i) to the extent in Tenant’s possession and/or control, a complete then-current listing of all Restaurant Equipment, which may be in electronic format, to the extent not previously delivered to Landlord, and (ii) any fixed asset report relating to the Restaurant Equipment in Tenant’s possession and/or control, to the extent not previously delivered to Landlord; provided that Landlord shall have the right to deliver such request not more than one time in any 12 month period during the Lease Term and provided that Tenant’s delivery of such information in (i) and (ii) shall be without any representation or warranty as to such information’s accuracy or completeness. (b) At any time during the occurrence of any Event of Default, and during the occurrence of any Default caused by the failure of Tenant to pay any amount as and when due from Tenant under the Lease, and within ninety (90) days before the expiration of the Lease Term, Tenant shall deliver to Landlord immediately following Tenant’s receipt of Landlord’s written request (i) to the extent in Tenant’s possession and/or control, a complete then-current listing of all Restaurant Equipment, which may be in electronic format, to the extent not previously delivered to Landlord, and (ii) any fixed asset report relating to the Restaurant Equipment in Tenant’s possession and/or control, to the extent not previously delivered to Landlord; provided that Tenant’s delivery of such information in (i) and (ii) shall be without any representation or warranty as to such information’s accuracy or completeness. (c) Without limiting Article XX, at any time during the Lease Term, upon not less than forty-eight hours’ prior written notice to Tenant, Landlord may enter upon the Demised Property at reasonable hours to inspect and inventory the Restaurant Equipment provided that (i) such inspection and inventory shall not unreasonably interfere with Tenant’s ability to conduct its business operations at the Demised Property, (ii) Landlord shall have the right to such inspection and inventory not more than one time in any 12 month period during the Lease Term, (iii) at Tenant’s option, such inspection and inventory shall not be conducted during normal business hours and Tenant may provide an escort for Landlord during any such inspection and inventory (provided further that Landlord’s right to such inspection and inventory shall not be subject to the availability or presence of any such escort), and (iv) Landlord shall promptly pay the costs of any damage caused by Landlord and/or its agents to any Restaurant Equipment in connection with such inspection and inventory. (d) Without limiting Article XX, at any time during the occurrence of any Event of Default or any Default in connection with any payment due and payable by Tenant under the Lease and within ninety (90) days before the expiration of the Lease Term, Landlord may enter (without any notice) upon the Demised Property to inspect and inventory the Restaurant Equipment; provided that (i) such inspection and inventory shall not unreasonably interfere with Tenant’s ability to conduct its business operations at the Demised Property, (ii) at Tenant’s option, such inspection and inventory shall not be conducted during normal business hours and Tenant may provide an escort for Landlord during any such inspection and inventory (provided further that Landlord’s right to such inspection and inventory shall not be subject to the availability or presence of any such escort), and (iii) Landlord shall promptly pay the costs of any damage caused by Landlord and/or its agents to any Restaurant Equipment in connection with such inspection and inventory. (e) Tenant shall not commit waste with respect to the Restaurant Equipment located in the each Demised Property and shall not remove the Restaurant Equipment from the Demised Property Properties (except to the extent it is replaced by equipment of equal or greater quality and utility). Tenant shall keep the Restaurant Equipment insured and shall be responsible for any casualty or other loss to Restaurant Equipment or occasioned by Restaurant Equipment. Tenant may, from time to time, retire or replace Restaurant Equipment with new items of equipment purchased by Tenant, in which event such replaced equipment shall constitute Restaurant Equipment. (f) Tenant shall use commercially reasonable efforts to obtain an option to purchase the Restaurant Equipment on behalf of Landlord from any lender of the Restaurant Equipment pursuant to an agreement in form and substance commercially reasonably satisfactory to Landlord. In addition, Landlord shall execute and deliver a lien waiver agreement in form and substance commercially reasonably satisfactory to Landlord to any lender of the Restaurant Equipment. (g) Any Restaurant Equipment remaining on the Demised Properties after ten (10) days after the expiration or earlier termination of the Lease Term shall be deemed abandoned and shall become the property of Landlord without payment therefor. Notwithstanding the foregoing, following any Event of Default or expiration of the Lease (including, without limitation, the nonrenewal of the Lease) and subject to the rights of Tenant’s Lender, Landlord shall have the option to purchase any or all the Restaurant Equipment for Fair Market Value (hereinafter defined), which option is assignable by Landlord. Tenant shall deliver the Restaurant Equipment to Landlord unencumbered by any liens. “Fair Market Value” shall be determined by the following procedure upon expiration of the Lease:

Appears in 1 contract

Samples: Master Land and Building Lease (Ryan's Restaurant Leasing Company, LLC)

Improvements and Fixtures. Section 22.01 Any and all portions of the Building, all other improvements on the Real Property at the Commencement Date and all Building Equipment fixtures on the Demised Property Premises at the Commencement Date shall be the property of Landlord (excluding the trade fixtures and the Restaurant Equipment)Landlord. In the event that Tenant installs or erects fixtures or improvements to the Demised Property Premises after the Commencement Date (excluding the trade fixtures and Restaurant Equipment)Date, such fixtures or improvements shall at the expiration or earlier termination of the Lease, become the property of Landlord and remain upon and be surrendered with the Demised PropertyPremises. Notwithstanding the foregoing provisions, Tenant shall be liable for all property taxes, assessments, and similar charges assessed against or allocable to any fixtures or equipment at the Demised Property Premises (irrespective of whether such items fixtures are Building Equipment owned by Landlord or Restaurant Equipment or other personal property of Tenant) and which are attributable to any period of time during the Lease Term. This Section 22.01 is subject to Section 22.02 below such that the foregoing shall not be deemed to apply to Tenant's moveable trade fixtures. Section 22.02 During Moveable trade fixtures , furnished or installed by Tenant and/or located on the Lease TermDemised Premises (including those items generally described on Exhibit B hereto), Tenant shall be entitled to use the Building Equipment in Tenant’s operations at the Demised Property. Except as otherwise provided in Section 22.04, Tenant shall keep the Building Equipment in good working order and repair, shall not remove the Building Equipment from the Demised Property and shall not permit any lien or other encumbrance to attach to Building Equipment except any such liens that are being contested by Tenant in good faith by appropriate proceedings and that have been bonded over by Tenant to the commercially reasonable satisfaction of Landlord or for which Tenant provides alternative security to the commercially reasonable satisfaction of Landlord. Tenant shall keep (or cause to be kept) the Building Equipment insured and shall be responsible for any casualty or other loss to Building Equipment or occasioned by Building Equipment. Tenant may, from time to time, retire or replace Building Equipment with new or comparable items of equipment purchased by Tenant, in which event such replaced equipment shall constitute Building Equipment. All Building Equipment shall be remain the property of Landlord, Tenant and Tenant shall execute such instruments and documents as Landlord may reasonably require to evidence such ownership by Landlord. (a) Without limiting Landlord’s rights or Tenant’s obligations in subsection (b), Tenant shall deliver to Landlord within thirty (30) days following Tenant’s receipt of Landlord’s written request (i) to the extent in Tenant’s possession and/or control, a complete listing of all Restaurant Equipment, which may be in electronic format, removed by Tenant or others entitled to the extent not previously delivered to Landlord, and (ii) any fixed asset report relating to the Restaurant Equipment in Tenant’s possession and/or control, to the extent not previously delivered to Landlord; provided that Landlord shall have the right to deliver such request not more than one time in any 12 month period during the Lease Term and provided that Tenant’s delivery of such information in (i) and (ii) shall be without any representation or warranty as to such information’s accuracy or completeness. (b) At any time during the occurrence of any Event of Default, and during the occurrence of any Default caused by the failure of Tenant to pay any amount as and when due from Tenant under the Lease, and within ninety (90) days before the expiration of the Lease Term, Tenant shall deliver to Landlord immediately following Tenant’s receipt of Landlord’s written request (i) to the extent in Tenant’s possession and/or control, a complete listing of all Restaurant Equipment, which may be in electronic format, to the extent not previously delivered to Landlord, and (ii) any fixed asset report relating to the Restaurant Equipment in Tenant’s possession and/or control, to the extent not previously delivered to Landlord; provided that Tenant’s delivery of such information in (i) and (ii) shall be without any representation or warranty as to such information’s accuracy or completeness. (c) Without limiting Article XX, remove same at any time during the Lease TermTerm provided that Tenant is not in default of this Lease, upon not less than forty-eight hours’ prior written notice and that such removal shall in no way affect Tenant's covenants with respect to the operation of the Demised Premises pursuant to Section 3.09. Such moveable trade fixtures shall include all personal property located on the Demised Premises in which Tenant has any interest, excluding only Landlord's Equipment (as defined in Section 22.03 below). Tenant shall repair all damage to the Demised Premises caused by removal of any such trade fixtures by Tenant or its subtenants, licensees or mortgagees. Upon default of this Lease by Tenant, Landlord may enter upon the Demised Property at reasonable hours to inspect and inventory the Restaurant Equipment provided that (i) such inspection and inventory shall not unreasonably interfere with Tenant’s ability to conduct its business operations at the Demised Property, (ii) Landlord shall have the right option to purchase any or all of such inspection trade fixtures, and inventory not more than one time equipment for $1.00, which option is assignable by Landlord. Landlord hereby acknowledges that certain of the moveable trade fixtures are subject to liens in favor of SunTrust Bank, Atlanta, as collateral agent under a Participation Agreement dated as of September 24, 1997 ("Equipment Lease"). Landlord hereby agrees that any 12 month period during statutory or contractual lien it may hold in the Lease Term, (iii) at Tenant’s option, such inspection moveable trade fixtures and inventory shall not be conducted during normal business hours and Tenant may provide an escort for Landlord during any such inspection and inventory (provided further that Landlord’s right to such inspection and inventory shall not be equipment subject to the availability or presence of any such escort), and (iv) Landlord shall promptly pay the costs of any damage caused by Landlord and/or its agents to any Restaurant Equipment in connection with such inspection and inventory. (d) Without limiting Article XX, at any time during the occurrence of any Event of Default or any Default in connection with any payment due and payable by Tenant under the Lease and within ninety (90) days before the expiration of the Lease Term, Landlord may enter (without any notice) upon the Demised Property to inspect and inventory the Restaurant Equipment; provided that (i) such inspection and inventory shall not unreasonably interfere with Tenant’s ability to conduct its business operations at the Demised Property, (ii) at Tenant’s option, such inspection and inventory shall not be conducted during normal business hours and Tenant may provide an escort for Landlord during any such inspection and inventory (provided further that Landlord’s right liens are hereby subordinated to such inspection liens and inventory shall not be such liens are hereby consented to by Landlord. If any of Tenant's trade fixtures or equipment after the date hereof become subject to the availability lien of an institutional lender, Landlord will subordinate any statutory or presence of any contractual lien it may hold to such escort), and (iii) Landlord shall promptly pay the costs of any damage caused by Landlord and/or its agents to any Restaurant Equipment in connection with such inspection and inventory. (e) Tenant shall not commit waste with respect trade fixtures or equipment to the Restaurant Equipment located lien of such lender, if such lender agrees, in form reasonably acceptable to Landlord, to sell to Landlord, at Landlord's election, the Demised Property trade fixtures and shall not remove equipment at one or more of the Restaurant Equipment from the Demised Property (except to the extent it is replaced by equipment of equal or greater quality and utility). Tenant shall keep the Restaurant Equipment insured and shall be responsible for any casualty Real Properties at Liquidation Value upon foreclosure or other loss to Restaurant Equipment or occasioned acquisition by Restaurant Equipment. Tenant may, from time to time, retire or replace Restaurant Equipment with new items of equipment purchased by Tenant, in which event such replaced equipment shall constitute Restaurant Equipment. (f) Landlord shall execute and deliver a lien waiver agreement in form and substance commercially reasonably satisfactory to Landlord to any lender of the Restaurant Equipmenttrade fixtures or equipment. For purposes hereof, Liquidation Value shall be the value of the assets if sold at public auction, as established by the average of the two closest appraisals in dollar amount made by three qualified appraisers, one selected by Landlord, one selected by such lender and the third selected by the two (2) appraisers so selected. A qualified appraiser is an appraiser with at least five (5) years experience in evaluating restaurant equipment and assets, who has no relationship to either Landlord or the lender. The cost of the appraisal process shall be shared equally by Landlord and lender.

Appears in 1 contract

Samples: Master Land and Building Lease (Avado Brands Inc)

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Improvements and Fixtures. Section 22.01 Any (a) All improvements, including all structures, pylons and all portions of monuments located upon the Building, all other improvements on the Real Property at the Commencement Date and all Building Equipment on the Demised Property at the Commencement Date shall be Premises are the property of the Landlord (excluding the trade fixtures and the Restaurant Equipment). In the event that will be surrendered to Landlord by Tenant installs or erects fixtures or improvements to the Demised Property after the Commencement Date (excluding the trade fixtures and Restaurant Equipment), such fixtures or improvements shall at upon the expiration or earlier termination of the this Lease, become the property of Landlord and remain upon and be surrendered with the Demised Property. Notwithstanding the foregoing provisions, Tenant shall be liable for all property taxes, assessments, and similar charges assessed against or allocable to any fixtures or equipment at the Demised Property (irrespective of whether such items are Building Equipment owned by Landlord or Restaurant Equipment or other personal property of Tenant) and which are attributable to any period of time during the Lease Term. Section 22.02 During the Lease Term, Tenant shall be entitled to use the Building Equipment in Tenant’s operations at the Demised Property. Except as otherwise provided in Section 22.04, Tenant shall keep the Building Equipment in good working order and repair, shall not remove the Building Equipment from the Demised Property and shall not permit any lien or other encumbrance to attach to Building Equipment except any such liens that are being contested by Tenant in good faith by appropriate proceedings and that have been bonded over by Tenant to the commercially reasonable satisfaction of Landlord or for which Tenant provides alternative security to the commercially reasonable satisfaction of Landlord. Tenant shall keep (or cause to be kept) the Building Equipment insured and shall be responsible for any casualty or other loss to Building Equipment or occasioned by Building Equipment. Tenant may, from time to time, retire or replace Building Equipment with new or comparable items of equipment purchased by Tenant, in which event such replaced equipment shall constitute Building Equipment. All Building Equipment shall be the property of Landlord, and Tenant shall execute such instruments and documents as Landlord may reasonably require to evidence such ownership by Landlord. (a) Without limiting Landlord’s rights or Tenant’s obligations in subsection (b), Tenant shall deliver to Landlord within thirty (30) days following Tenant’s receipt of Landlord’s written request (i) to the extent in Tenant’s possession and/or control, a complete listing of all Restaurant Equipment, which may be in electronic format, to the extent not previously delivered to Landlord, and (ii) any fixed asset report relating to the Restaurant Equipment in Tenant’s possession and/or control, to the extent not previously delivered to Landlord; provided that Landlord shall have the right to deliver such request not more than one time in any 12 month period during the Lease Term and provided that Tenant’s delivery of such information in (i) and (ii) shall be without any representation or warranty as to such information’s accuracy or completeness. (b) At Tenant, at its own expense, may provide, install and shall maintain its own “trade fixtures and equipment” and shall also maintain all fixtures and equipment existing at the Premises on the Commencement Date, however, Tenant may substitute for and alter the same to enable it to conduct its business on the Premises in a good and business-like manner. Any and all fixtures and equipment existing on the day immediately preceding the Commencement Date and all Tenant replacements thereof shall remain (and become, as applicable) the property of the Landlord. Tenant’s subsequently acquired personal property, trade fixtures, fixtures and equipment (not in replacement of Landlord’s) shall remain the property of Tenant. The Tenant may remove its property or any part thereof at any time during the occurrence term of any Event of Defaultthis Lease, and during Tenant shall remove all of its trade fixtures and equipment upon the occurrence expiration or earlier termination of this Lease. Tenant shall repair, at its expense, any Default damage to the Premises caused by the failure removal of Tenant to pay any amount as and when due from Tenant under the Leasesaid personal property, and within ninety (90) days before the expiration of the Lease Term, Tenant shall deliver to Landlord immediately following trade fixtures or equipment by Tenant’s receipt of Landlord’s written request (i) to the extent in Tenant’s possession and/or control, a complete listing of all Restaurant Equipment, which may be in electronic format, to the extent not previously delivered to Landlord, and (ii) any fixed asset report relating to the Restaurant Equipment in Tenant’s possession and/or control, to the extent not previously delivered to Landlord; provided that Tenant’s delivery of such information in (i) and (ii) shall be without any representation or warranty as to such information’s accuracy or completeness. (c) Without limiting Article XXNotwithstanding anything in this Lease to the contrary, at any time during the Lease Term, upon not less than forty-eight hours’ prior written notice to Tenant, Landlord may enter upon the Demised Property at reasonable hours to inspect and inventory the Restaurant Equipment provided that (i) such inspection and inventory shall not unreasonably interfere with Tenant’s ability to conduct its business operations at the Demised Property, (ii) Landlord shall have the right to such inspection and inventory not more than one time in any 12 month period during the Lease Term, (iii) at Tenant’s option, such inspection and inventory Tenant shall not be conducted during normal business hours entitled to remove any fixtures and Tenant may provide equipment now or hereafter installed in or on the Premises that is an escort for Landlord during any such inspection integral part of the Building and inventory (provided further that Landlord’s right to such inspection Building operation, including, without limitation, heating, ventilating and inventory shall not be subject to the availability or presence of any such escort)air conditioning systems, and electrical and plumbing fixtures and systems; and, if any, and if not leased by Tenant: back up generators, fire suppression sprinkler system, and security system; all of which shall be deemed part of the Premises and remain (ivand become, as applicable) Landlord shall promptly pay the costs property of any damage caused Landlord. Expressly excluded from the type of fixtures and equipment intended to be covered by Landlord and/or its agents to any Restaurant Equipment in connection with such inspection this Section 5(c) are fixtures and inventory. (d) Without limiting Article XX, at any time during the occurrence of any Event of Default or any Default in connection with any payment due and payable equipment that are installed by Tenant under for the Lease and within ninety (90) days before the expiration conduct of the Lease Term, Landlord may enter (without any notice) upon the Demised Property to inspect and inventory the Restaurant Equipment; provided that (i) such inspection and inventory shall not unreasonably interfere with Tenant’s ability to conduct its business operations at the Demised Property, (iiin particular and thereby a trade fixture or equipment type described in Section 5(b) at Tenant’s option, such inspection and inventory shall not be conducted during generally required for normal business hours and Tenant may provide an escort for Landlord during any such inspection and inventory (provided further that Landlord’s right to such inspection and inventory shall not be subject to the availability or presence of any such escort), and (iii) Landlord shall promptly pay the costs of any damage caused by Landlord and/or its agents to any Restaurant Equipment in connection with such inspection and inventorybuilding operations. (e) Tenant shall not commit waste with respect to the Restaurant Equipment located in the Demised Property and shall not remove the Restaurant Equipment from the Demised Property (except to the extent it is replaced by equipment of equal or greater quality and utility). Tenant shall keep the Restaurant Equipment insured and shall be responsible for any casualty or other loss to Restaurant Equipment or occasioned by Restaurant Equipment. Tenant may, from time to time, retire or replace Restaurant Equipment with new items of equipment purchased by Tenant, in which event such replaced equipment shall constitute Restaurant Equipment. (f) Landlord shall execute and deliver a lien waiver agreement in form and substance commercially reasonably satisfactory to Landlord to any lender of the Restaurant Equipment.

Appears in 1 contract

Samples: Sublease Agreement (Knology Inc)

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