Common use of Improvements and Modifications Clause in Contracts

Improvements and Modifications. (a) (i) Lessee, at Lessee’s own cost and expense, shall make alterations, renovations, improvements, additions and upgrades to the Leased Property or any part thereof and substitutions and replacements therefor, and/or make changes the use of the Leased Property or any part thereof (collectively, “Modifications”) which are (A) necessary to repair or maintain the Leased Property in the condition required by Section 9.1; (B) necessary in order for the Leased Property to be in compliance with Applicable Laws (including Environmental Laws) in all material respects; or (C) necessary or advisable to restore the Leased Property to substantially the same condition existing prior to a Casualty or Condemnation to the extent required pursuant to Article XIV (collectively, “Required Modifications”); and (ii) so long as no Event of Default has occurred and is continuing, Lessee or its subtenants, at Lessee’s or its subtenant’s, as applicable, sole discretion and cost and expense, may undertake other Modifications to the Leased Property so long as such Modifications comply with Applicable Laws in all material respects and with Section 9.1 and Section 10.1(b) (collectively, “Permitted Modifications”).

Appears in 3 contracts

Samples: Lease and Remedies Agreement (Regeneron Pharmaceuticals, Inc.), Lease and Remedies Agreement (Regeneron Pharmaceuticals, Inc.), Lease and Remedies Agreement (Regeneron Pharmaceuticals Inc)

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Improvements and Modifications. (a) In addition to Lessee's obligations as Supervisory Agent under the Project Supervisory Agreement, on and after the Base Term Commencement Date, (i) Lessee, at Lessee’s 's own cost and expense, shall make alterations, renovations, improvements, improvements and additions and upgrades to the Leased Property or any part thereof and substitutions and replacements therefor, and/or make changes the use of the Leased Property or any part thereof therefor (collectively, “Modifications”"MODIFICATIONS") which are (A) necessary to repair or maintain the Leased Property in the condition required by Section 9.1; (B) necessary in order for the Leased Property to be in compliance with Applicable Laws (including Environmental Laws) in all material respects; or (C) necessary or advisable to restore the Leased Property to substantially the same its condition existing prior to a Casualty or Condemnation to the extent required pursuant to Article XIV (collectively, “Required Modifications”)XIV; and (ii) so long as no Event of Default or Default has occurred and is continuing, Lessee or its subtenantsLessee, at Lessee’s or its subtenant’s, as applicable, sole discretion and 's own cost and expense, may undertake other Modifications to the Leased Property so long as such Modifications comply with Applicable Laws in all material respects with Applicable Laws and with Section 9.1 and subsection (b) of this Section 10.1(b) (collectively, “Permitted Modifications”)10.1.

Appears in 2 contracts

Samples: Lease (Kansas City Power & Light Co), Kansas City Power & Light Co

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Improvements and Modifications. (a) In addition to Lessee’s obligations as Construction Agent under the Construction Agency Agreement, on and after the Base Term Commencement Date, (i) Lessee, at Lessee’s own cost and expense, shall make alterations, renovations, improvements, improvements and additions and upgrades to the Leased Property or any part thereof and substitutions and replacements therefor, and/or make changes the use of the Leased Property or any part thereof therefor (collectively, “Modifications”) which are (A) necessary to repair or maintain the Leased Property in the condition required by Section 9.1; (B) necessary in order for the Leased Property to be in compliance with Applicable Laws (including Environmental Laws) in all material respects; or (C) necessary or advisable to restore the Leased Property to substantially the same its condition existing prior to a Casualty or Condemnation to the extent required pursuant to Article XIV (collectively, a “Required ModificationsModification”); and (ii) so long as no Default or Event of Default has ‑12‑ occurred and is continuing, Lessee or its subtenantsLessee, at Lessee’s or its subtenant’s, as applicable, sole discretion and own cost and expense, may undertake other Modifications to the Leased Property so long as such Modifications comply with Applicable Laws in all material respects and with Laws, Section 9.1 and Section 10.1(b) (collectively, a “Permitted Modifications”).

Appears in 1 contract

Samples: Debt and Security Agreement (Norfolk Southern Corp)

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