Common use of Maintenance and Repair Alterations Clause in Contracts

Maintenance and Repair Alterations. (a) Mortgagor shall (i) abstain from and not permit the commission of waste in or about the Mortgaged Premises; (ii) keep the Mortgaged Premises, at Mortgagor's own cost and expense, in good and substantial repair, working order and condition; (iii) make or cause to be made, as and when necessary, all repairs and replacements, whether or not insurance proceeds are available therefor; and (iv) except with respect to the renovation of the parking lot area of the Mortgaged Premises, not remove, demolish, materially alter, discontinue the use of, permit to become vacant or deserted, or otherwise dispose of all or any part of the Mortgaged Premises. All alterations, replacements, renewals or additions made pursuant to this Section 6.9. shall automatically become a part of the Mortgaged Premises and shall be covered by the lien of this Mortgage. (b) Mortgagee, and any persons authorized by Mortgagee, shall have the right, but not the obligation, to enter upon the Mortgaged Premises at any reasonable time to inspect and photograph its condition and state of repair. In the event any such inspection reveals, in the sole discretion of Mortgagee, the necessity for any repair, alteration, replacement, clean-up or maintenance, Mortgagor shall, at the sole reasonable discretion of Mortgagee, either: (i) cause such work to be effected immediately; or (ii) promptly establish an interest bearing reserve fund with Mortgagee in an amount determined by Mortgagee for the purpose of effecting such work.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Michael Anthony Jewelers Inc)

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Maintenance and Repair Alterations. (a) Mortgagor shall (i) abstain from and not permit the commission of waste in or about the Mortgaged PremisesProperty; (ii) keep the Mortgaged PremisesProperty, at Mortgagor's ’s own cost and expense, in good and substantial repair, working order and condition; (iii) make or cause to be made, as and when necessary, in Mortgagor’s reasonable judgment, all repairs and replacements, whether or not insurance proceeds are available therefor; and (iv) except with respect to the renovation of the parking lot area of the Mortgaged Premises, not remove, demolish, materially alter, discontinue the use of, permit to become vacant or deserted, or otherwise dispose of all or any part of the Mortgaged PremisesProperty. All alterations, replacements, renewals or additions made pursuant to this Section 6.9. hereto shall automatically become a part of the Mortgaged Premises Property and shall be covered by the lien of this Mortgage. (b) Mortgagee, and any persons authorized by Mortgagee, shall have the right, but not the obligation, to enter upon the Mortgaged Premises Property at any reasonable time and upon reasonable prior notice to Mortgagor to inspect and photograph its condition and state of repair. In the event any such inspection reveals, in the sole reasonable discretion of Mortgagee, the necessity for of any repair, alteration, replacement, clean-up or maintenance, Mortgagor shall, at the sole reasonable discretion of Mortgagee, either: (i) cause such work to be effected immediatelyas soon as reasonably practicable; or or (ii) promptly establish an interest bearing reserve fund funds with Mortgagee in an amount reasonably determined by Mortgagee for the purpose of effecting such work.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Exactech Inc)

Maintenance and Repair Alterations. (a) Mortgagor shall (i) abstain from 5.1. Maintenance and not permit Repair Tenant acknowledges that it has received the commission of waste Premises in or about good condition, repair and appearance. Tenant agrees that, at its expense, it will keep and maintain the Mortgaged Premises; (ii) keep the Mortgaged Premises, at Mortgagor's own cost including any altered, rebuilt, additional or substituted buildings, structures and expenseother improvements thereto, in good condition and substantial repair. It will make promptly, working order all structural and condition; (iii) make nonstructural, foreseen and unforeseen, ordinary and extraordinary changes and repairs or cause replacements of every kind which may be required to be mademade to keep and maintain the Premises in such good condition, repair and appearance and it will keep the Premises orderly and free and clear of rubbish. Tenant covenants not to install any underground storage tanks on the Premises. Tenant agrees that its obligation to maintain and repair the Premises as set forth in this Section 5.1 benefit both Landlord and when necessaryTenant, are the sole responsibility of Tenant, and may not be delegated. Tenant further covenants to perform or observe all repairs and replacementsterms, covenants or conditions of any reciprocal easement or maintenance agreement to which it may at any time be a party or to which the Premises are currently subject. Tenant shall, at its expense, use its best efforts to enforce compliance with any reciprocal easement or maintenance agreement benefiting the Premises by any other person subject to such agreement. Landlord shall not be required to maintain, repair or rebuild, or to make any Alterations of any nature to the Premises, or any part thereof, whether ordinary or extraordinary, structural or nonstructural, foreseen or not insurance proceeds are available therefor; foreseen, or to maintain the Premises or any part thereof in any way. Tenant hereby expressly waives the right to make repairs at the expense of Landlord which may be provided for in any law in effect at the time of the commencement of the term of this Lease or which may thereafter be enacted. If Tenant shall abandon the Premises, it shall give Landlord and (iv) except Lender immediate notice thereof. The obligations of the Tenant to pay Basic Rent and Additional Rent shall not be eliminated, reduced, suspended, or otherwise impaired by reason of such abandonment of the Premises. In the event that the Premises shall violate any law and as a result of such violation an enforcement action is threatened or commenced against Tenant or with respect to the renovation of the parking lot area of the Mortgaged Premises, not remove, demolish, materially alter, discontinue the use of, permit to become vacant or deserted, or otherwise dispose of all or any part of the Mortgaged Premises. All alterations, replacements, renewals or additions made pursuant to this Section 6.9. then Tenant shall automatically become a part of the Mortgaged Premises and shall be covered by the lien of this Mortgage. (b) Mortgagee, and any persons authorized by Mortgagee, shall have the right, but not the obligation, to enter upon the Mortgaged Premises at any reasonable time to inspect and photograph its condition and state of repair. In the event any such inspection reveals, in the sole discretion of Mortgagee, the necessity for any repair, alteration, replacement, clean-up or maintenance, Mortgagor shall, at the sole reasonable discretion of Mortgagee, either: either (i) cause obtain valid and effective waivers or settlements of all claims, liabilities and damages resulting from each such work to be effected immediately; or violation, whether the same shall affect Landlord, Tenant or both, or (ii) promptly establish an interest bearing reserve fund with Mortgagee in an amount determined by Mortgagee for the purpose of effecting take such workaction as shall be necessary to remove such violation, including, if necessary, making any necessary repairs or replacements, structural or otherwise.

Appears in 1 contract

Samples: Lease (Ugly Duckling Corp)

Maintenance and Repair Alterations. (a) Mortgagor shall (i1) abstain from and not permit the commission of waste in or about the Mortgaged Premises; (ii2) keep the Mortgaged Premises, at Mortgagor's ’s own cost and expense, in good and substantial repair, working order and condition, normal wear and tear excepted; (iii3) make or cause to be made, as and when necessary, all repairs and replacements, whether or not insurance proceeds are available therefor; and (iv4) except with respect to the renovation of the parking lot area of the Mortgaged Premises, not remove, demolish, materially alter, discontinue the use of, permit to become vacant or deserted, or otherwise dispose of all or any part of the Mortgaged Premises. All alterations, replacements, renewals or additions made pursuant to this Section 6.9. shall automatically become a part of the Mortgaged Premises and shall be covered by the lien of this Mortgage. (b) Mortgagee, and any persons authorized by Mortgagee, shall have the right, but not the obligation, to enter upon the Mortgaged Premises at any all reasonable time times and upon prior notice to Mortgagor, to inspect and photograph its condition and state of repair. In the event any such inspection reveals, in the sole reasonable discretion of Mortgagee, the necessity for any repair, alteration, replacement, clean-up or maintenance, Mortgagor shall, at the sole reasonable discretion of Mortgagee, either: (i1) cause such work to be effected immediatelywithin a reasonable period of time; or or (ii2) promptly establish an interest bearing reserve fund with Mortgagee in an amount determined by Mortgagee to be used to pay for any such work to be completed upon the purpose of effecting such workMortgaged Premises.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Ep Medsystems Inc)

Maintenance and Repair Alterations. (a) Mortgagor shall Notwithstanding anything to the contrary in Article 8 of the Lease: (i) abstain from and not permit Except in the commission case of waste in an emergency, Landlord shall commence any repairs which Landlord is required to make pursuant to Sections 8.2 or about 8.3 of the Mortgaged Premises; Lease within ten (10) business days after Xxxxxxxx's receipt of written notice of the need therefor. In the case of an emergency, Landlord shall make all repairs required to be made by Landlord as promptly as practicable after receipt of oral notice of the need therefor. As used herein, an emergency shall be a condition or state of facts posing a threat of imminent injury to or death of persons or damage to property. Once commenced, all repairs required to be performed by Landlord shall be diligently prosecuted to completion. (ii) keep If Tenant provides written notice to Landlord of an event or circumstance which requires the Mortgaged action of Landlord with respect to repair and/or maintenance which is required to be made by Landlord pursuant to either of such Sections 8.2 or 8.3 and which materially and adversely affects Tenant's use of the Premises, at Mortgagorand Landlord fails to provide such action within the time period provided in clause (i) above, or to diligently prosecute the same to completion after commencement thereof, then Tenant may proceed to take the required action following delivery of an additional three (3) business days' written notice to Landlord specifying that Tenant will take such required action if not undertaken by Landlord, and if such action was required under the terms of the Lease to be taken by Landlord, then Tenant shall be entitled to reimbursement by Landlord of Tenant's own cost reasonable costs and expenseexpenses in taking such action within thirty (30) days after Xxxxxxxx's receipt of an invoice from Tenant of its costs of taking action which Xxxxxx claims should have been taken by Landlord. Such invoice shall set forth a reasonably particularized breakdown of all such costs and expenses in connection with taking such action on behalf of Landlord. If Landlord fails to pay any such reasonable costs and expenses within such thirty (30) days period, in good Tenant shall not be entitled to deduct such costs and substantial repairexpenses from rent payable under this Lease, working order and condition; but rather, as Tenant's sole remedy, Tenant may proceed to claim a default by Landlord. (iii) make or cause Any work undertaken by Tenant pursuant to clause (ii) above shall be made, as and when necessary, all repairs and replacements, whether or not insurance proceeds are available therefor; and (iv) except with respect subject to the renovation following: (A) Such work shall not extend to any structural portion of the parking lot area of the Mortgaged Premises, not remove, demolish, materially alter, discontinue the use of, permit to become vacant or desertedany Building, or otherwise dispose to any main utility line(s) located outside such Building. (B) In no event shall Tenant be permitted to enter into the premises of any other tenant in the Building or Center in connection with such work. (C) All such work shall be diligently pursued to completion in accordance with all or any part of the Mortgaged Premises. All alterations, replacements, renewals or additions made pursuant to this Section 6.9. shall automatically become a part of the Mortgaged Premises applicable laws and shall be covered conducted in a manner which does not interfere with the normal operations of the Center and other tenants thereof. (D) The work undertaken by Tenant shall be the lien minimum amount of this Mortgagework reasonably necessary for Tenant to correct or cure the problem or failure of Landlord to act as was addressed by Xxxxxx's notices pursuant to clause (ii) above. (b) MortgageeNotwithstanding anything to the contrary contained in the first sentence of Section 9.1 of this Lease, with respect to each Premises and Building, Tenant may, without the prior written consent of Landlord, make any persons authorized interior alterations therein so long as such alterations (i) do not impact or affect any changes to the structural portions of such Premises or Building, (ii) do not materially affect or impact the main electrical, plumbing, mechanical and ventilating and air conditioning systems of such Premises or Building, (iii) do not affect any change to the exterior of such Premises or Building, (iv) are consistent with the then existing improvements in such Premises approved by Mortgagee, shall have the right, but not the obligation, Landlord or otherwise installed or constructed therein pursuant to enter upon the Mortgaged Premises at any reasonable time to inspect this subsection (b) and photograph its condition and state of repair. In the event any such inspection reveals(v) do not, in the sole discretion aggregate, cost more than $0.50 per square foot of MortgageeRentable Area in such Premises in any twelve (12) month period. Such alterations may include, by way of example, new paint, wallcoverings, refurbishment of floor coverings and replacement of fixtures, furnishings and equipment, so long as the necessity for any repair, alteration, replacement, clean-up or maintenance, Mortgagor shall, at the sole reasonable discretion of Mortgagee, either: same are in compliance with clauses (i) cause through (v) hereof. It is understood and agreed that the limitations set forth in clause (v) above shall be applied on Building/Premises by Building/Premises basis. (c) Notwithstanding the last sentence of the second unnumbered paragraph of Section 9.1 of this Lease, Tenant shall not be required to remove any alterations, additions or improvements made or installed by Tenant in the Premises which are in existence in the applicable Premises as of the date of this Lease or which are hereafter constructed or installed in such work Premises pursuant to Article 9 and Exhibit "D" attached to this Lease and which Landlord and Tenant agree in writing shall not be required to be effected immediately; orremoved in connection with Landlord's approval of any such alteration, addition or improvement. (iid) promptly establish an interest bearing reserve fund with Mortgagee The first and second sentences of the third paragraph of Section 9.1 of the Lease are hereby amended to read, in an amount determined by Mortgagee their entirety, as follows: "All alterations of or to the Premises shall be performed in a good and workmanlike manner and all materials used in connection therewith shall be equal or better in terms of quality and quantity than Landlord's Building Standard Tenant Improvement items for the purpose Center. A copy of effecting such workLandlord's Building Standard Tenant Improvement items for the Center is available at Landlord's property management office for the Center."

Appears in 1 contract

Samples: Master Building Lease (Filenet Corp)

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Maintenance and Repair Alterations. (a) Mortgagor shall (i) abstain from and not permit the commission of waste in or about the Mortgaged PremisesProperty; (ii) keep the Mortgaged PremisesProperty, at Mortgagor's ’s own cost and expense, in good and substantial repair, working order and condition, ordinary wear and tear excepted; (iii) make or cause to be made, as and when necessary, all repairs and replacements, whether or not insurance proceeds are available therefor; and (iv) except with respect to the renovation of the parking lot area of the Mortgaged Premises, not remove, demolish, materially alter, discontinue the use of, permit to become vacant or deserted, or otherwise dispose of all or any material part of the Mortgaged PremisesProperty. All alterations, replacements, renewals or additions made pursuant to this Section 6.9. hereto shall automatically become a part of the Mortgaged Premises Property and shall be covered by the lien of this Mortgage. (b) Mortgagee, and any persons authorized by Mortgagee, shall have the right, but not the obligation, to enter upon the Mortgaged Premises Property at any reasonable time and upon reasonable notice to inspect and photograph its condition and state of repair. In the event any such inspection reveals, in the sole discretion of Mortgagee, the necessity for any repair, alteration, replacement, clean-up or maintenance, Mortgagor shall, at the sole reasonable discretion of Mortgagee, either: (i) cause such work to be effected immediately; or or (ii) promptly establish an interest bearing reserve fund with Mortgagee in an amount reasonably determined by Mortgagee for the purpose of effecting such work.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Trailer Bridge Inc)

Maintenance and Repair Alterations. (a) Mortgagor shall (i) abstain from and not permit the commission of waste in or about the Mortgaged Premises; (ii) keep the Mortgaged Premises, at Mortgagor's own cost and expense, in good and substantial repair, working order and condition; (iii) make or cause to be made, as and when necessary, all repairs and replacements, whether or not insurance proceeds are available therefor; and (iv) except with respect to the renovation of the parking lot area of the Mortgaged Premises, not remove, demolish, materially alter, discontinue the use of, permit to become vacant or deserted, or otherwise dispose of all or any part of the Mortgaged Premises. All alterations, replacements, renewals or additions made pursuant to this Section 6.9. shall automatically become a part of the Mortgaged Premises and shall be covered by the lien of this Mortgage. (b) Mortgagee, and any persons authorized by Mortgagee, shall have the right, but not the obligation, to enter upon the Mortgaged Premises at any reasonable time to inspect and photograph its condition and state of repair. In the event any such inspection reveals, in the sole discretion of Mortgagee, the necessity for any repair, alteration, replacement, clean-up or maintenance, Mortgagor shall, at the sole reasonable discretion of Mortgagee, either: (i) cause such work to be effected immediately; or or (ii) promptly establish an interest bearing reserve fund with Mortgagee in an amount determined by Mortgagee for the purpose of effecting such work.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Burlington Coat Factory Warehouse Corp)

Maintenance and Repair Alterations. (a) Mortgagor shall (i) abstain from and not permit the commission of waste in or about the Mortgaged Premises; (ii) keep or cause to be kept the Mortgaged PremisesProperty, at Mortgagor's own cost and expense, in good and substantial repair, working order and conditioncondition (reasonable wear and tear, damage by casualty excepted); (iii) make or cause to be made, as and when necessary, all repairs and replacements, whether or not insurance proceeds are available therefor; and (iv) except with respect to the renovation of the parking lot area of the Mortgaged Premises, not remove, demolish, materially alter, discontinue or, except as permitted by the use ofReimbursement Agreement, permit to become vacant or deserted, or otherwise dispose of all or any part of the Mortgaged PremisesProperty. All alterations, replacements, renewals or additions made pursuant to this Section 6.9. 5.12 shall automatically become a part of the Mortgaged Premises Property and shall be covered by the lien of this Mortgage. Notwithstanding the foregoing, the provisions of (ii), (iii) and (iv) of this Section 5.12 shall not apply to the Mortgaged Property at any time the Mortgaged Property is not leased or is under development except to the extent that failure to comply with said paragraphs would constitute a safety hazard. (b) Except as permitted in the Reimbursement Agreement and subject to the rights of tenants under Leases, Mortgagee, and any persons authorized by Mortgagee, shall have the right, but not the obligation, to enter upon the Mortgaged Premises at any reasonable time to inspect and photograph its condition and state of repair. In the event any such inspection reveals, in the sole discretion of Mortgagee, the necessity for any repair, alteration, replacement, clean-up or maintenance, Mortgagor shall, at the sole reasonable discretion of Mortgagee, either: (i) cause such work to be effected immediately; or (ii) promptly establish an interest bearing reserve fund with Mortgagee in an amount determined by Mortgagee for the purpose of effecting such work.

Appears in 1 contract

Samples: Reimbursement Agreement (Alexanders Inc)

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