Maintenance and Modifications of Project by Lessee. (a) The Lessee will cause the Project to be maintained, preserved and kept in good repair, working order and condition, ordinary wear and tear excepted, and will from time to time cause to be made all necessary and proper repairs, replacements and renewals; provided, however, that the Lessee will have no obligation to cause to be maintained, preserved, repaired, replaced or renewed any element or unit of the Project, the maintenance, repair, replacement or renewal of which, in the opinion of the Lessee, becomes uneconomical to the Lessee because of damage or destruction or obsolescence, or change in economic or business conditions, or change in government standards and regulations, or the termination by the Lessee of the operation of the production facilities to which such element or unit of the Project is an adjunct. The Lessee agrees that the Issuer shall have no obligation to maintain the Project or any portion thereof. The Lessee covenants that as long as the Lessee or one of its Affiliates operates the Project, it or one of its Affiliates will cause the Project to be maintained and operated as a “project” within the meaning of the Act as in effect on the date hereof. (b) The Lessee may from time to time, in its sole discretion, at its own expense and not from the proceeds of the Bonds, make any additions, modifications or improvements to the Project, including installation of additional machinery, equipment and related property in the Project Facility, or on the Project Facility Site, which it may deem desirable for its business purposes; provided that all such additions, modifications or improvements do not adversely affect the structural integrity of the Project Facility and are located wholly within the boundary lines of the Project Facility Site, as applicable. All machinery, equipment and related property so installed by the Lessee shall remain the sole property of the Lessee in which the Issuer shall have no interest, and accordingly, Lessee may dispose of it in any manner desired by Lessee. All such machinery, equipment and other related property may be modified or removed at any time; provided that any damage to the Project occasioned by such modification or removal shall be repaired by the Lessee at its own expense. (c) The Lessee shall not permit any mechanic’s liens, materialmen’s liens or other liens to be established and remain against the Project for labor or materials furnished or services rendered in connection with any additions, modifications, improvements, repairs, renewals or replacements so made by it; provided, the Lessee may in good faith contest any mechanic’s liens, materialmen’s liens or other liens filed or established against the Project, and in such event may permit the items so contested to remain undischarged and unsatisfied during the period of such contest and any appeal therefrom. The Issuer will cooperate fully with the Lessee in any such contest.
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Maintenance and Modifications of Project by Lessee. (a) The Lessee agrees that during the Lease Term it will cause at its own expense (i) keep the Project to be maintained, preserved in as reasonably safe condition as its operations shall permit and kept in good repair, working order (ii) keep the Improvements and condition, ordinary wear the Equipment and tear excepted, all other facilities and will from time to time cause to be made all necessary and proper repairs, replacements and renewals; provided, however, that the Lessee will have no obligation to cause to be maintained, preserved, repaired, replaced or renewed any element or unit of the Project, the maintenance, repair, replacement or renewal of which, in the opinion of the Lessee, becomes uneconomical to the Lessee because of damage or destruction or obsolescence, or change in economic or business conditions, or change in government standards and regulations, or the termination by the Lessee of the operation of the production facilities to which such element or unit improvements forming a part of the Project is an adjunct. The Lessee agrees that the Issuer shall have no obligation to maintain the Project or any portion thereof. The Lessee covenants that as long as the Lessee or one of its Affiliates operates the Project, it or one of its Affiliates will cause the Project to be maintained in reasonably good repair and operated as a “project” within the meaning of the Act as in effect on the date hereofgood operating condition.
(b) The Lessee may from time to time, in its sole discretion, discretion and at its own expense and not from the proceeds of the Bondsexpense, make any additions, modifications or improvements to the Project, including (i) the acquisition of additional real property or any interests therein, (ii) the acquisition, construction and equipping of additional buildings, utilities, parking facilities and other improvements on or under the Land, and (iii) the installation of additional machinery, equipment and related other tangible personal property in the Project FacilityProject, or on the Land or in any additional buildings and improvements (collectively, the “Additions”); provided, however, no such Additions shall materially impair the effective use of the Project Facility Siteor result in any part of the Project not being a “project” within the meaning of the Act. The Lessee shall furnish to the Issuer the plans for any such Additions. The Issuer shall not be obligated to pay any costs or expenses in connection with the design, which it acquisition, construction or installation of any such Additions. At any time and from time to time, the Lessee may deem desirable for its business purposeselect by giving notice thereof to the Issuer to include any such Additions or portions thereof as a part of the Project (collectively, herein called “Project Improvements”); provided that all to the extent any such additionsProject Improvements include personal property, modifications such notice shall be accompanied by a xxxx of sale, assignment or improvements do not adversely affect other instrument transferring title thereof to the structural integrity Issuer. No transfer instrument shall be required in the case of the Project Facility Improvements which constitute real property and are located wholly within upon the boundary lines giving of such notice to the Issuer such Project Improvements shall be deemed a part of the Project Facility Site, as applicableand titled in the name of the Issuer. All machinery, equipment and related property so installed If no such notice is given by the Lessee to the Issuer, such Additions shall remain the sole property of be deemed Excluded Property. Any such Additions constituting Excluded Property, may be removed by the Lessee in which the Issuer shall have no interest, and accordingly, Lessee may dispose of it in any manner desired by Lessee. All such machinery, equipment and other related property may be modified or removed at any time and from time to time; provided that any damage to the Project occasioned by such modification or removal shall be repaired by the Lessee at its own expense. All Excluded Property, whether or not installed in the Project or located on or adjacent to the Land, shall remain the sole property of the owner thereof in which the Issuer shall not have any interest, and shall not be subject to the provisions of this Lease or the Indenture. The Issuer agrees to execute and deliver at the request of the Lessee or any other Person having an interest in the Project or any part thereof any landlord’s waivers and other releases in connection with the acquisition, construction and installation of such Excluded Property. Nothing contained in the preceding provisions of this Section 6.1(b) shall prevent the Lessee from granting any deeds to secure debt, mortgages, security agreements or other similar liens or encumbrances or entering into any sale/leaseback transactions with respect to any Additions (whether in the form of a conditional sale, financing lease or otherwise) and the Issuer agrees to execute and deliver at the request of the Lessee any instruments, waivers, releases, financing statements or other documents necessary or appropriate to confirm any such grant. These provisions shall be in addition to the rights of the Lessee set forth in Sections 8.5 and 8.7 hereof.
(c) The Lessee shall not permit any mechanicSubject to the Lessee’s liens, materialmen’s liens or other liens to be established usual safety and remain against security requirements of persons located on the Project for labor or materials furnished or services rendered in connection with any additions, modifications, improvements, repairs, renewals or replacements so made by it; providedLand, the Issuer, the Trustee and their respective duly authorized agents shall have the right, upon giving the Lessee at least 48 hours prior written notice, to enter upon any part of the Land during normal daylight business hours, and examine and inspect the same as may be reasonably necessary for the purpose of determining whether the Lessee is in good faith contest any mechanic’s liens, materialmen’s liens or other liens filed or established against compliance with its obligations under this Section 6.1; provided that no such inspection shall interfere with the business operations at the Project, and in such event may permit the items so contested to remain undischarged and unsatisfied during the period of such contest and any appeal therefrom. The Issuer will cooperate fully with the Lessee in any such contest.
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Maintenance and Modifications of Project by Lessee. (a) The Lessee agrees that during the Lease Term it will cause at its own expense (i) keep the Project to be maintained, preserved in as reasonably safe condition as its operations shall permit and kept in good repair, working order (ii) keep the Improvements and condition, ordinary wear the Equipment and tear excepted, all other facilities and will from time to time cause to be made all necessary and proper repairs, replacements and renewals; provided, however, that the Lessee will have no obligation to cause to be maintained, preserved, repaired, replaced or renewed any element or unit of the Project, the maintenance, repair, replacement or renewal of which, in the opinion of the Lessee, becomes uneconomical to the Lessee because of damage or destruction or obsolescence, or change in economic or business conditions, or change in government standards and regulations, or the termination by the Lessee of the operation of the production facilities to which such element or unit improvements forming a part of the Project is an adjunct. The Lessee agrees that the Issuer shall have no obligation to maintain the Project or any portion thereof. The Lessee covenants that as long as the Lessee or one of its Affiliates operates the Project, it or one of its Affiliates will cause the Project to be maintained in reasonably good repair and operated as a “project” within the meaning of the Act as in effect on the date hereofgood operating condition.
(b) The Lessee may from time to time, in its sole discretion, discretion and at its own expense and not from the proceeds of the Bondsexpense, make any additions, modifications or improvements to the Project, including (i) the acquisition of additional real property or any interests therein, (ii) the acquisition, construction and equipping of additional buildings, utilities, parking facilities and other improvements on or under the Land, and (iii) the installation of additional machinery, equipment and related other tangible personal property in the Project FacilityProject, or on the Land or in any additional buildings and improvements (collectively, the "Additions"); provided, however, no such Additions shall materially impair the effective use of the Project Facility Siteor result in any part of the Project not being a "project" within the meaning of the Act. The Lessee shall furnish to the Issuer the plans for any such Additions. The Issuer shall not be obligated to pay any costs or expenses in connection with the design, which it acquisition, construction or installation of any such Additions. At any time and from time to time, the Lessee may deem desirable for its business purposeselect by giving notice thereof to the Issuer to include any such Additions or portions thereof as a part of the Project (collectively, herein called "Project Improvements"); provided that all to the extent any such additionsProject Improvements include personal property, modifications such notice shall be accompanied by a xxxx of sale, assignment or improvements do not adversely affect other instrument transferring title thereof to the structural integrity Issuer. No transfer instrument shall be required in the case of the Project Facility Improvements which constitute real property and are located wholly within upon the boundary lines giving of such notice to the Issuer such Project Improvements shall be deemed a part of the Project Facility Site, as applicableand titled in the name of the Issuer. All machinery, equipment and related property so installed If no such notice is given by the Lessee to the Issuer, such Additions shall remain the sole property of be deemed Excluded Property. Any such Additions constituting Excluded Property, may be removed by the Lessee in which the Issuer shall have no interest, and accordingly, Lessee may dispose of it in any manner desired by Lessee. All such machinery, equipment and other related property may be modified or removed at any time and from time to time; provided that any damage to the Project occasioned by such modification or removal shall be repaired by the Lessee at its own expense. All Excluded Property, whether or not installed in the Project or located on or adjacent to the Land, shall remain the sole property of the owner thereof in which the Issuer shall not have any interest, and shall not be subject to the provisions of this Lease or the Indenture. The Issuer agrees to execute and deliver at the request of the Lessee or any other Person having an interest in the Project or any part thereof any landlord's waivers and other releases in connection with the acquisition, construction and installation of such Excluded Property. Nothing contained in the preceding provisions of this Section 6.1(b) shall prevent the Lessee from granting any deeds to secure debt, mortgages, security agreements or other similar liens or encumbrances or entering into any sale/leaseback transactions with respect to any Additions (whether in the form of a conditional sale, financing lease or otherwise) and the Issuer agrees to execute and deliver at the request of the Lessee any instruments, waivers, releases, financing statements or other documents necessary or appropriate to confirm any such grant. These provisions shall be in addition to the rights of the Lessee set forth in Sections 8.5 and 8.7 hereof.
(c) The Lessee shall not permit any mechanic’s liens, materialmen’s liens or other liens Subject to be established the Lessee's usual safety and remain against security requirements of persons located on the Project for labor or materials furnished or services rendered in connection with any additions, modifications, improvements, repairs, renewals or replacements so made by it; providedLand, the Issuer, the Trustee and their respective duly authorized agents shall have the right, upon giving the Lessee at least 48 hours prior written notice, to enter upon any part of the Land during normal daylight business hours, and examine and inspect the same as may be reasonably necessary for the purpose of determining whether the Lessee is in good faith contest any mechanic’s liens, materialmen’s liens or other liens filed or established against compliance with its obligations under this Section 6.1; provided that no such inspection shall interfere with the business operations at the Project, and in such event may permit the items so contested to remain undischarged and unsatisfied during the period of such contest and any appeal therefrom. The Issuer will cooperate fully with the Lessee in any such contest.
Appears in 1 contract
Samples: Lease Agreement (Adesa Inc)
Maintenance and Modifications of Project by Lessee. (a) The Lessee agrees that during the Lease Term it will cause at its own expense (i) keep the Project to be maintained, preserved in as reasonably safe condition as its operations shall permit and kept in good repair, working order (ii) keep the Improvements and condition, ordinary wear the Equipment and tear excepted, all other facilities and will from time to time cause to be made all necessary and proper repairs, replacements and renewals; provided, however, that the Lessee will have no obligation to cause to be maintained, preserved, repaired, replaced or renewed any element or unit of the Project, the maintenance, repair, replacement or renewal of which, in the opinion of the Lessee, becomes uneconomical to the Lessee because of damage or destruction or obsolescence, or change in economic or business conditions, or change in government standards and regulations, or the termination by the Lessee of the operation of the production facilities to which such element or unit improvements forming a part of the Project is an adjunct. The Lessee agrees that the Issuer shall have no obligation to maintain the Project or any portion thereof. The Lessee covenants that as long as the Lessee or one of its Affiliates operates the Project, it or one of its Affiliates will cause the Project to be maintained in reasonably good repair and operated as a “project” within the meaning of the Act as in effect on the date hereofgood operating condition.
(b) The Lessee may from time to time, in its sole discretion, discretion and at its own expense and not from the proceeds of the Bondsexpense, make any additions, modifications or improvements to the Project, including (i) the acquisition of additional real property or any interests therein, (ii) the acquisition, construction and equipping of additional buildings, utilities, parking facilities and other improvements on or under the Land, and (iii) the installation of additional machinery, equipment and related other tangible personal property in the Project FacilityProject, or on the Land or in any additional buildings and improvements (collectively, the "Additions"); provided, however, no such Additions shall materially impair the effective use of the Project Facility Siteor result in any part of the Project not being a "project" within the meaning of the Act. The Lessee shall furnish to the Issuer the plans for any such Additions. The Issuer shall not be obligated to pay any costs or expenses in connection with the design, which it acquisition, construction or installation of any such Additions. At any time and from time to time, the Lessee may deem desirable for its business purposeselect by giving notice thereof to the Issuer to include any such Additions or portions thereof as a part of the Project (collectively, herein called "Project Improvements"); provided that all to the extent any such additionsProject Improvements include personal property, modifications such notice shall be accompanied by a bill of sale, assignment or improvements do not adversely affect other instrument transferring titlx xhereof to the structural integrity Issuer. No transfer instrument shall be required in the case of the Project Facility Improvements which constitute real property and are located wholly within upon the boundary lines giving of such notice to the Issuer such Project Improvements shall be deemed a part of the Project Facility Site, as applicableand titled in the name of the Issuer. All machinery, equipment and related property so installed If no such notice is given by the Lessee to the Issuer, such Additions shall remain the sole property of be deemed Excluded Property. Any such Additions constituting Excluded Property, may be removed by the Lessee in which the Issuer shall have no interest, and accordingly, Lessee may dispose of it in any manner desired by Lessee. All such machinery, equipment and other related property may be modified or removed at any time and from time to time; provided that any damage to the Project occasioned by such modification or removal shall be repaired by the Lessee at its own expense. All Excluded Property, whether or not installed in the Project or located on or adjacent to the Land, shall remain the sole property of the owner thereof in which the Issuer shall not have any interest, and shall not be subject to the provisions of this Lease or the Indenture. The Issuer agrees to execute and deliver at the request of the Lessee or any other Person having an interest in the Project or any part thereof any landlord's waivers and other releases in connection with the acquisition, construction and installation of such Excluded Property. Nothing contained in the preceding provisions of this Section 6.1(b) shall prevent the Lessee from granting any deeds to secure debt, mortgages, security agreements or other similar liens or encumbrances or entering into any sale/leaseback transactions with respect to any Additions (whether in the form of a conditional sale, financing lease or otherwise) and the Issuer agrees to execute and deliver at the request of the Lessee any instruments, waivers, releases, financing statements or other documents necessary or appropriate to confirm any such grant. These provisions shall be in addition to the rights of the Lessee set forth in Sections 8.5 and 8.7 hereof.
(c) The Lessee shall not permit any mechanic’s liens, materialmen’s liens or other liens Subject to be established the Lessee's usual safety and remain against security requirements of persons located on the Project for labor or materials furnished or services rendered in connection with any additions, modifications, improvements, repairs, renewals or replacements so made by it; providedLand, the Issuer, the Trustee and their respective duly authorized agents shall have the right, upon giving the Lessee at least 48 hours prior written notice, to enter upon any part of the Land during normal daylight business hours, and examine and inspect the same as may be reasonably necessary for the purpose of determining whether the Lessee is in good faith contest any mechanic’s liens, materialmen’s liens or other liens filed or established against compliance with its obligations under this Section 6.1; provided that no such inspection shall interfere with the business operations at the Project, and in such event may permit the items so contested to remain undischarged and unsatisfied during the period of such contest and any appeal therefrom. The Issuer will cooperate fully with the Lessee in any such contest.
Appears in 1 contract
Samples: Lease Agreement (Allete Inc)
Maintenance and Modifications of Project by Lessee. (a) The Lessee will cause the Project to be maintained, preserved and kept in good repair, working order and condition, ordinary wear and tear excepted, condition and will from time to time cause to be made all necessary and proper repairs, replacements and renewals; provided, however, that the Lessee will have no obligation to cause to be maintained, preserved, repaired, replaced or renewed any element or unit of the Project, the maintenance, repair, replacement or renewal of which, in the opinion of the Lessee, becomes uneconomical uneconomic to the Lessee because of damage or destruction or obsolescence, or change in economic or business conditions, or change in government standards and regulations, or the termination by the Lessee of the operation of the production facilities to which such element or unit of the Project is an adjunct. The For purposes of this Section 6.1, upon the request of Issuer, the “opinion of the Lessee” shall be expressed to the Issuer and the Trustee by delivery of a certificate of an Authorized Lessee agrees Representative to the effect that the Issuer shall have no obligation circumstances, situations or conditions described in this Section 6.1 exist to maintain the Project extent that the Lessee is not required to cause to be maintained any element or any portion thereofunit of the Project. The Lessee covenants that as long as the Lessee or one of its Affiliates subsidiaries or affiliates operates the Project, it or one of its Affiliates subsidiaries or affiliates will cause the Project to be maintained and operated as a “project” within the meaning of the Act as in effect on the date hereof.
(b) The Lessee may from time to time, in its sole discretion, at its own expense and not from the proceeds of the Bonds, make any additions, modifications or improvements to the Project, including installation of additional machinery, equipment and related property in the Project Facility, Building or on the Project Facility SiteLeased Land, which it may deem desirable for its business purposes; provided that all such additions, modifications or improvements do not adversely affect the structural integrity of the Project Facility and are located wholly within the boundary lines of the Project Facility Site, as applicable. All machinery, equipment and related property so installed by the Lessee shall remain the sole property of the Lessee in which neither the Issuer nor the Trustee shall have no interestany interest unless the Lessee has requested that such machinery, equipment and accordinglyother related property be subject to this Lease and incorporated into the Project. Other than such machines, Lessee may dispose of it in any manner desired by Lessee. All equipment and other related property incorporated into the Project, all such machinery, equipment and other related property may be modified or removed at any time; provided that any damage to the Project occasioned by such modification or removal shall be repaired by the Lessee at its own expense.
(c) The Lessee shall not permit any mechanic’s mechanics’ liens, materialmen’s liens or other liens to be established and remain against the Project for labor or materials furnished or services rendered in connection with any additions, modifications, improvements, repairs, renewals or replacements so made by it; provided, that if the Lessee shall first notify the Trustee of its intention so to do, the Lessee may in good faith contest any mechanic’s mechanics’ liens, materialmen’s liens or other liens filed or established against the Project, and in such event may permit the items so contested to remain undischarged and unsatisfied during the period of such contest and any appeal therefromtherefrom unless the Issuer or the Trustee shall notify the Lessee that, in the opinion of Independent Counsel, by nonpayment of any such items, the Project or any material part thereof or the revenues from the Project will be subject to loss or forfeiture, in which event the Lessee shall promptly pay and cause to be satisfied and discharged all such unpaid items. The Issuer will cooperate fully with the Lessee in any such contest.
Appears in 1 contract
Samples: Lease Agreement