Common use of Landlord’s Personal Property Clause in Contracts

Landlord’s Personal Property. Tenant shall, during the entire Term, maintain all of Landlord's Personal Property in good order, condition and repair as shall be necessary in order to operate the Facilities for the Primary Intended Use in compliance with applicable licensure and certification requirements, applicable Legal Requirements and Insurance Requirements, and customary industry practice for the Primary Intended Use. If any of Landlord's Personal Property requires replacement in order to comply with the foregoing, Tenant shall replace it with other similar property of the same or better quality at Tenant's sole cost and expense; the Replaced Property shall no longer be Landlord's Personal Property; and the Replacement Property shall become part of Landlord's Personal Property. Tenant shall not permit or suffer Landlord's Personal Property to be subject to any lien, charge, encumbrance, financing statement or contract of sale or the like, except for any purchase money security interest or equipment or Landlord's interest expressly approved in advance, in writing, by Landlord. At the expiration or earlier termination of this Lease, all of Landlord's Personal Property shall be surrendered to Landlord with the Leased Property in the condition required by Section 9.1.6 hereof.

Appears in 2 contracts

Samples: Master Lease (Monarch Properties Inc), Master Lease (Monarch Properties Inc)

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Landlord’s Personal Property. Tenant shall, during the entire Term, maintain all of Landlord's Personal Property in good order, condition and repair as shall be necessary in order to operate the Facilities Facility for the Primary Intended Use in compliance with applicable licensure and certification requirements, applicable Legal Requirements and Insurance Requirements, and customary industry practice for the Primary Intended Use. If any of Landlord's Personal Property requires replacement in order to comply with the foregoing, Tenant shall replace it with other similar property of the same or better quality at Tenant's sole cost and expense; the Replaced Property shall no longer be Landlord's Personal Property; and the Replacement Property shall become part of Landlord's Personal Property. Tenant shall not permit or suffer Landlord's Personal Property to be subject to any lien, charge, encumbrance, financing statement or contract of sale or the like, except for any purchase money security interest or equipment or Landlord's interest expressly approved in advance, in writing, by Landlord. At the expiration or earlier termination of this Lease, all of Landlord's Personal Property shall be surrendered to Landlord with the Leased Property in the condition required by Section 9.1.6 hereof.

Appears in 1 contract

Samples: Lease (Monarch Properties Inc)

Landlord’s Personal Property. Tenant shall, during the entire Term, maintain all of Landlord's Personal Property in good order, condition and repair as shall be necessary in order to operate the Facilities for the Primary Intended Use in compliance with applicable licensure and certification requirements, applicable Legal Requirements and Insurance Requirements, and customary industry practice for the Primary Intended Use. If any of Landlord's Personal Property requires replacement in order to comply with the foregoing, Tenant shall replace it with other similar property of the same or better quality at Tenant's sole cost and expense; the Replaced Property shall no longer be Landlord's Personal Property; and the Replacement Property shall become part of Landlord's Personal Property. Tenant shall not permit or suffer Landlord's Personal Property to be subject to any lien, charge, encumbrance, financing statement or agreement or contract of sale or the like, except for any purchase money security interest or on equipment or Landlord's interest therein, expressly approved in advance, in writing, by Landlord. At the expiration or earlier termination of this Lease, all of Landlord's Personal Property shall be surrendered to Landlord with the Leased Property in the condition required by Section 9.1.6 hereof.

Appears in 1 contract

Samples: Master Lease (Integrated Health Services Inc)

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Landlord’s Personal Property. Tenant shall, during the entire Term, maintain all of Landlord's Personal Property in good order, condition and repair as shall be necessary in order to operate the Facilities Facility for the Primary Intended Use in compliance with applicable licensure and certification requirements, applicable Legal Requirements and Insurance Requirements, and customary industry practice for the Primary Intended Use. If any of Landlord's Personal Property requires replacement in order to comply with the foregoing, Tenant shall replace it with other similar property of the same or better quality at Tenant's sole cost and expense; the Replaced Property shall no longer be Landlord's Personal Property; and the Replacement Property shall become part of Landlord's Personal Property. Tenant shall not permit or suffer Landlord's Personal Property to be subject to any lien, charge, encumbrance, financing statement or contract of sale or the like, except for any purchase money security interest or equipment or Landlord's interest expressly approved in advance, in n writing, by Landlord. At the expiration or earlier termination of this Lease, all of Landlord's Personal Property shall be surrendered to Landlord with the Leased Property in the condition required by Section 9.1.6 hereof.

Appears in 1 contract

Samples: Lease (Monarch Properties Inc)

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