Maintenance and Repair. (a) Tenant, at its expense, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall promptly make all necessary and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use. (b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted. (c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof. (d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term). (e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 11 contracts
Samples: Master Lease Agreement (Kindred Healthcare, Inc), Master Lease Agreement (Kindred Healthcare, Inc), Master Lease Agreement (Kindred Healthcare, Inc)
Maintenance and Repair. (a) TenantExcept for any Alterations that Tenant is permitted to make pursuant to this Lease, Tenant shall at its expenseall times put, shall keep each and maintain the Leased Property Premises (including, without limitation, the roof, landscaping, walls, footings, foundations and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Propertystructural components of the Leased Premises) in good the same (or better) condition and order and repairof repair as exists as of the Commencement Date, reasonable except for ordinary wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s usetear, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, and shall promptly make all necessary and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen unforeseen, which may be required to be made upon or arising in connection with the Leased Premises in order to keep and maintain the Leased Premises in the order and condition required by this Paragraph 11(a). Tenant shall do or cause others to do all shoring of the Leased Premises or of foundations and walls of the Improvements and every other act necessary or appropriate for preservation and safety thereof, by reason of or in connection with any excavation or other building operation upon any of the Leased Premises, whether or not Landlord shall, by reason of any Legal Requirements or Insurance Requirements, be required to take such action or be liable for failure to do so. LANDLORD SHALL NOT BE REQUIRED TO MAKE ANY REPAIR, WHETHER FORESEEN OR UNFORESEEN, OR TO MAINTAIN ANY OF THE LEASED PREMISES IN ANY WAY, AND TENANT HEREBY EXPRESSLY WAIVES THE RIGHT TO MAKE REPAIRS AT THE EXPENSE OF THE LANDLORD, WHICH RIGHT MAY BE PROVIDED FOR IN ANY LAW NOW OR HEREAFTER IN EFFECT. Nothing in the preceding sentence shall be deemed to preclude Tenant from being entitled to insurance proceeds or condemnation awards for Restoration pursuant to Paragraphs 13(c) and 14(g). Tenant shall, in all events, make all repairs for which it is responsible hereunder promptly (but in any event shall commence actions to initiate such repairs as quickly as possible after the date Tenant becomes aware that such repairs are necessary, or, in the event of a condition existing prior Restoration pursuant to Paragraph 13(c) or 14(g), within sixty (60) days of the date insurance proceeds or a condemnation award has been paid to the commencement Trustee (it being understood that Tenant shall take such steps as are reasonably necessary to protect and preserve the integrity and safety of the Term (concealed or otherwiseLeased Premises pending such payment) and shall diligently pursue such repairs to completion). All , and all repairs shall, to the extent reasonably achievable, shall be made in a good, proper and workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor In the event that any Improvement shall not under violate any circumstances be required to build Legal Requirements or rebuild Insurance Requirements, then Tenant, at the request of Landlord, shall either (i) obtain valid and effective variances, waivers or settlements of all claims, liabilities and damages resulting from each such violation, whether the same shall affect Landlord, Tenant or both (or in the case of a violation of Insurance Requirements, obtain new coverage where there is no violation of any improvements on any Leased PropertyInsurance Requirements), or (ii) take such action as shall be necessary to make any repairsremove such violation, replacementsincluding, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by lawif necessary, the right to make repairs at making of an Alteration. Any such repair or Alteration shall be made in conformity with the expense provisions of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enactedParagraph 12.
(c) Except If Tenant shall be in default under any of the provisions of this Paragraph 11, Landlord may, thirty (30) days after Xxxxxx’s receipt of written notice of default and failure of Tenant to commence to cure during such period or to diligently pursue such cure to completion, but without notice in the event of an emergency, do whatever is necessary to cure such default as expressly set forth in this Leasemay be appropriate under the circumstances for the account of, nothing contained in and at the expense of, Tenant. In the event of an emergency Landlord shall notify Tenant of the situation by phone or other available communication and shall give Tenant as much time as is reasonably practicable before acting independently to cure such default. All reasonable sums so paid by Landlord and all reasonable costs and expenses (including, without limitation, attorneys’ fees and expenses) so incurred, together with interest thereon at the Default Rate from the date of payment or incurring the expense, shall constitute Additional Rent payable by Tenant under this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofon demand.
(d) Tenant will, upon the expiration or prior termination shall from time to time replace with Replacement Equipment any of the TermEquipment that shall have become worn out or unusable for the purpose for which it is intended, vacate been taken by a Condemnation as provided in Paragraph 13, or been lost, stolen, damaged or destroyed as provided in Paragraph 14. Tenant shall repair at its sole cost and surrender expense all damage to the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required Premises caused by the provisions removal of this Lease and Equipment or other personal property of Tenant or the installation of Replacement Equipment. All Replacement Equipment (except for ordinary wear Trade Fixtures) shall become the property of Landlord, shall be free and tear (subject to clear of all Liens and rights of others and shall become a part of the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term)Equipment as if originally demised herein.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 6 contracts
Samples: Lease Agreement (Finward Bancorp), Lease Agreement (Finward Bancorp), Lease Agreement (Finward Bancorp)
Maintenance and Repair. (a) Tenant, Tenant shall at all times maintain each Related Premises and the Adjoining Property in as good repair and appearance as each is in on the date hereof and fit to be used for their intended use in accordance with the better of the practices generally recognized as then acceptable by other companies in its expense, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (whether industry or not observed by Tenant with respect to the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements other real properties owned or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof)operated by it, and, in the case of the Equipment, in as good mechanical condition as it was on the later of the date hereof or the date of its installation, in each case, except as otherwise provided in ARTICLE XIV, for ordinary wear and tear. Tenant shall take every other reasonable action necessary or appropriate for the preservation and safety of each Related Premises. Tenant shall promptly make all necessary and appropriate repairs and replacements thereto, Alterations of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shallunforeseen, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances may be required to build or rebuild any improvements on any Leased Property, or comply with the foregoing requirements of this Paragraph 12(a). Landlord shall not be required to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased PropertyAlteration, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased of the Related Premises or Adjoining Property in any way, except as expressly provided herein. and Tenant hereby waives, to the extent permitted by law, the expressly waives any right which may be provided for in any Law now or hereafter in effect to make repairs Alterations at the expense of Lessor Landlord or to require Landlord to make Alterations. Any Alteration made by Tenant pursuant to any law this Paragraph 12 shall be made in effect at conformity with the time provisions of the execution of this Lease or thereafter enactedParagraph 13.
(cb) Except as expressly set forth If any Improvement, now or hereafter constructed, shall in this Lease, nothing contained in this Lease and no action any material respect (or inaction by Lessor any immaterial respect if the claim or demand shall be construed as brought by a Person other than Landlord) (i) constituting encroach upon any setback or any property, street or right-of-way adjoining any of the consent Leased Premises, (ii) violate the provisions of any restrictive covenant affecting any of the Leased Premises, (iii) hinder or request obstruct any easement or right-of-way to which any of Lessor, express the Leased Premises is subject or implied(iv) impair the rights of others in, to or under any contractorof the foregoing, subcontractorTenant shall, laborerpromptly after receiving notice or otherwise acquiring knowledge thereof, materialman either (A) obtain from all necessary parties waivers or vendor to settlements of all claims, liabilities and damages resulting from each such encroachment, violation, hindrance, obstruction or for impairment, whether the performance of any labor same shall affect Landlord, Tenant or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereofboth, or (iiB) giving Tenant any righttake such action as shall be necessary to remove all such encroachments, power hindrances or permission obstructions and to contract for end all such violations or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the impairments, including, if necessary, making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofAlterations.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 6 contracts
Samples: Lease Agreement (Tower Automotive, LLC), Lease Agreement (Tower Automotive, LLC), Lease Agreement (Tower Automotive, LLC)
Maintenance and Repair. (a) TenantExcept for any Alterations that Tenant is permitted to make pursuant to this Lease, Tenant shall at its expenseall times from and after the Commencement Date, shall including any Requisition period, put, keep and maintain each Leased Property (including, without limitation, the roof, landscaping, walls, footings, foundations and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal structural components of each Leased Property) and the Equipment in good a similar (or better) condition and order and repairof repair as exists as of the Commencement Date, reasonable except for ordinary wear and tear excepted (whether or and the loss of a part of any Leased Property pursuant to a partial Condemnation with respect to which restoration is not the need for such repairs occurs as a result of Tenant’s usepractically feasible, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, and shall promptly make all necessary and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen unforeseen, which may be required to be made upon or arising in connection with each Leased Property in order to keep and maintain such Leased Property in the order and condition required by this Paragraph 11(a). Tenant shall do or cause others to do all shoring of each Leased Property or of foundations and walls of the Improvements and every other act necessary or appropriate for preservation and safety thereof, by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs in connection with any excavation or other building operation upon such Leased Property, whether or not Landlord shall, to the extent reasonably achievableby reason of any Legal Requirements or Insurance Requirements, be made required to take such action or be liable for failure to do so. LANDLORD SHALL NOT BE REQUIRED TO MAKE ANY REPAIR, WHETHER FORESEEN OR UNFORESEEN, OR TO MAINTAIN ANY LEASED PROPERTY OR ANY PART THEREOF OR ADJOINING PROPERTY IN ANY WAY, AND TENANT HEREBY EXPRESSLY WAIVES THE RIGHT TO MAKE REPAIRS AT THE EXPENSE OF THE LANDLORD, WHICH RIGHT MAY BE PROVIDED FOR IN ANY LAW NOW OR HEREAFTER IN EFFECT. Tenant shall, in all events, make all repairs for which it is responsible hereunder promptly, and all repairs shall be in a good, proper and workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor Subject to Paragraph 18, in the event that any Improvement shall not under violate any circumstances be required Legal Requirements or Insurance Requirements and as a result of such violation enforcement action is threatened or commenced against Tenant or with respect to build or rebuild any improvements on any Leased Property, then Tenant, at the request of Landlord, shall either (i) obtain valid and effective waivers or to make any repairssettlements of all claims, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Propertyliabilities and damages resulting from each such violation, whether ordinary the same shall affect Landlord, Tenant or extraordinary, structural or non-structural, foreseen or unforeseenboth, or (ii) take such action as shall be necessary to make any expenditure whatsoever with respect theretoremove such violation, in connection with this Leaseincluding, or to maintain any Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by lawif necessary, the right to make repairs at making of an Alteration. Any such repair or Alteration shall be made in conformity with the expense provisions of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enactedParagraph 12.
(c) Except If Tenant shall be in default under any of the provisions of this Pxxxxxxxx 00, Xxxxxxxx may after thirty (30) days written notice given to Tenant and failure of Tenant to cure during said period, but with such shorter notice that is appropriate under the circumstances in the event of an emergency, do whatever is reasonably necessary to cure such default as expressly set forth in this Leasemay be appropriate under the circumstances for the account of and at the expense of Tenant. In the event of an emergency Landlord shall notify Tenant of the situation by phone or other available communication. All reasonable sums so paid by Landlord and all reasonable costs and expenses (including, nothing contained in without limitation, reasonable attorneys’ fees and expenses) so incurred, together with interest thereon at the Default Rate from the date of payment or incurring the expense, shall constitute Additional Rent payable by Tenant under this Lease and no action or inaction by Lessor shall be construed as paid by Tenant to Landlord within five (i5) constituting the consent or request Business Days of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofdemand.
(d) Tenant will, upon the expiration or prior termination shall from time to time replace with Replacement Equipment any of the TermEquipment which shall have become worn out or unusable for the purpose for which it is intended, vacate been taken by a Condemnation as provided in Paragraph 13 (provided that Landlord or Trustee, as applicable, releases the Net Award to Tenant as provided in Paragraph 15), or been lost, stolen, damaged or destroyed as provided in Paragraph 14 (provided that Landlord or the Trustee, as applicable, releases the Net Proceeds to Tenant as provided in Paragraph 15). Tenant shall repair at its sole cost and surrender expense all damage to the applicable related Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required caused by the provisions removal of this Lease and except for ordinary wear and tear (subject to the obligation Equipment or Replaced Equipment or other personal property of Tenant to maintain or the Leased Property in good order installation of Replacement Equipment. All Replacement Equipment shall become the property of Landlord, shall be free and repair during clear of all liens and rights of others and shall become a part of the entire Term)Equipment as if originally demised herein.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 5 contracts
Samples: Master Lease Agreement (Old National Bancorp /In/), Master Lease Agreement (Old National Bancorp /In/), Master Lease Agreement (Old National Bancorp /In/)
Maintenance and Repair. (a) TenantTenant shall at all times maintain each Related Premises and the Appurtenances in as good repair and appearance as each is in on the date hereof and fit to be used for their intended use and consistent with the practices generally recognized as then acceptable by other companies in its industry and, at its expensein any event, shall keep each as least as good as those observed by the prior owner or operator of the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (whether or not Premises immediately preceding the need for such repairs occurs as a result date of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof)this Lease, and, in the case of the Equipment, in as good mechanical condition as it was on the later of the date hereof or the date of its installation, except as otherwise provided in ARTICLE XIV, for ordinary wear and tear. Tenant shall take every other action reasonably necessary or appropriate for the preservation and safety of each Related Premises. Tenant shall promptly make all necessary and appropriate repairs and replacements thereto, Alterations of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shallunforeseen, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances may be required to build or rebuild any improvements on any Leased Property, or comply with the foregoing requirements of this Paragraph 12(a). Landlord shall not be required to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased PropertyAlteration, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property of the Related Premises or Appurtenances in any way, except as expressly provided herein. and Tenant hereby waives, to the extent permitted by law, the expressly waives any right which may be provided for in any Law now or hereafter in effect to make repairs Alterations at the expense of Lessor Landlord or to require Landlord to make Alterations. Any Alteration made by Tenant pursuant to any law this Paragraph 12 shall be made in effect at conformity with the time provisions of the execution of this Lease or thereafter enactedParagraph 13.
(cb) Except as expressly set forth in this LeaseIf any Improvement, nothing contained in this Lease and no action now or inaction by Lessor hereafter constructed, shall be construed as (i) constituting encroach upon any setback or any property, street or right-of-way adjoining any of the consent Leased Premises, (ii) violate the provisions of any restrictive covenant affecting any of the Leased Premises, (iii) hinder or request obstruct any easement or right-of-way to which any of Lessor, express the Leased Premises is subject or implied(iv) impair the rights of others in, to or under any contractorof the foregoing, subcontractorTenant shall, laborerpromptly after receiving notice or otherwise acquiring knowledge thereof, materialman either (A) obtain from all necessary parties waivers or vendor to settlements of all claims, liabilities and damages resulting from each such encroachment, violation, hindrance, obstruction or for impairment, whether the performance of any labor same shall affect Landlord, Tenant or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereofboth, or (iiB) giving Tenant any righttake such action as shall be necessary to remove all such encroachments, power hindrances or permission obstructions and to contract for end all such violations or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the impairments, including, if necessary, making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofAlterations.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 4 contracts
Samples: Lease Agreement (Corporate Property Associates 16 Global Inc), Lease Agreement (Corporate Property Associates 16 Global Inc), Lease Agreement (Corporate Property Associates 15 Inc)
Maintenance and Repair. (a) TenantUnless caused by Lessee’s gross negligence or willful misconduct or that of its employees or agents, at its expenseLessee shall not be required to bear the cost of any Capital Expenditures, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are including any expenditures for items classified as capital items under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall promptly make all necessary and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)U.S. generally accepted accounting principles. All repairs shall, Except to the extent reasonably achievablerequired by Article XXXVIII or elsewhere in this Lease, however, nothing herein shall be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating construed to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) require Lessor shall not under any circumstances be required to build or rebuild any improvements improvement on any the Leased Property, or to fund or make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any the Leased Property in any way, except . Except as expressly provided herein. Tenant set forth elsewhere in this Lease, Lessee hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted. Lessor shall have the right to give, record and post, as appropriate, notices of nonresponsibility under any mechanic’s lien laws now or hereafter existing. Notwithstanding anything in the foregoing to the contrary, to the extent any equipment used in the operation of the Hotel as of the Commencement Date is leased equipment and not owned equipment, Lessor shall have no obligation to acquire such leased equipment or replace such leased equipment with owned equipment during the Term and therefore, to the extent Lessee elects to acquire or replace any such leased equipment with owned equipment, the cost to acquire such owned equipment shall not be charged to Lessor under any of the provisions of this Lease or reduce any amounts to which Lessor is entitled under this Lease.
(b) Except for conditions caused by Lessor’s or its agents’ or employees’ breach of this Lease or their gross negligence or willful misconduct or resulting from Force Majeure, Lessee will keep the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto that are under Lessee’s control, including windows and plate glass, parking lots, mechanical, electrical and plumbing systems and equipment (including conduit and ductware), and non-load bearing interior walls, in good order and repair, except for ordinary wear and tear (whether or not the need for such repairs occurred as a result of Lessee’s use, any prior use, the elements or the age of the Leased Property, or any portion thereof), and, except as otherwise provided in Article XIV or XV, with reasonable promptness, make all necessary and appropriate repairs thereto of every kind and nature, whether interior or exterior, ordinary or extraordinary, foreseen or unforeseen, except repairs (i) arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise), or (ii) capital improvements requiring Capital Expenditures required by any governmental agency having jurisdiction over the Leased Property, or (iii) capital improvements or repairs to the structural elements of the Leased Improvements, or (iv) other capital improvements to the Leased Improvements, the cost of which would constitute Capital Expenditures. Lessee shall obtain and maintain in effect maintenance contracts throughout the Term with reputable service firms on all serviceable systems and assets included with the Fixtures which constitute a portion of the Leased Property, unless such services can be competently provided by Lessee’s employees, in which event such services may be provided by Lessee’s employees. All repairs shall, to the extent reasonably achievable, be at least equivalent in quality to the original work. Lessee will not take or omit to take any action, the taking or omission of which might materially impair the value or the usefulness of the Leased Property or any part thereof for its Primary Intended Use. Notwithstanding any other provision of this Lease, however, other than under Articles XIV and XV on the conditions set forth therein, Lessee shall not be required to bear the costs of complying with this Section with respect to Capital Expenditures, including any items classified as capital items under U.S. generally accepted accounting principles, but shall be required to comply with this Section as to such items if and to the extent that amounts are available therefor from the reserve required to be established by Lessor under Article XX or are otherwise provided by Lessor. Lessor shall be responsible for all such Capital Expenditures, including, without limitation, Capital Expenditures required to comply with all Legal Requirements (including, without limitation, all Environmental Laws, the Americans with Disabilities Act and any state or local handicap access laws and regulations and all zoning and land use laws and regulations) and Capital Expenditures required to comply with any Franchise Agreement; subject to Lessor’s right to approve the Capital Budget for such Leased Property. If Lessor fails to make any Capital Expenditure required by any Franchisor and such refusal results in a default under or termination of the related Franchise Agreement, Lessor shall be responsible for all damages, termination payments payable by Lessee under the terms of such Franchise Agreement, application fees for a new franchise license reasonably approved by Lessor, increased royalty fees and other costs arising out of such refusal or out of the resulting need to apply for and enter into a substitute franchise license agreement.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i1) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, or (ii2) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, for any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any the Leased Property, or any portion thereof.
(d) Tenant Lessee will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property and Lessor’s Personal Property to Lessor in the condition in which such the Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant Lessee to maintain the Leased Property in good order and repair accordance with Section 9.1(b) above during the entire TermTerm of the Lease), or damage by casualty or Condemnation (subject to the obligations of Lessee to restore or repair as set forth in the Lease).
(e) Tenant shall establish and maintain If Lessor fails to make any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions emergency Capital Expenditures promptly following Notice from Lessee of an emergency situation, then Lessee will have the right, but not the obligation, to make such Capital Expenditures on behalf of and for capital expenditures the account of Lessor, whereupon Lessor shall reimburse Lessee therefor, together with interest thereon at the Leased PropertyOverdue Rate, promptly upon receipt of all documentation evidencing such Capital Expenditure. If Lessor fails to so reimburse Lessee within ten days after written demand therefor, then in addition to such rights and remedies as Lessee may have with respect to such breach, Lessee may offset the amounts owed against the next payments of Rent due to Lessor under this Lease.
(f) It is Lessor’s responsibility and obligation to fund any and all FF&E Reserves. Instead of funding the FF&E Reserve directly, the Lessor may require the Lessee to fund the FF&E Reserve and reduce the Rent payment by the applicable amount. The remaining balance of Rent shall be paid in accordance with the Lease.
Appears in 4 contracts
Samples: Lease Agreement (American Realty Capital Hospitality Trust, Inc.), Lease Agreement (American Realty Capital Hospitality Trust, Inc.), Lease Agreement (American Realty Capital Hospitality Trust, Inc.)
Maintenance and Repair. (a) Tenant, at its expense, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) Tenant acknowledges that it has received the Premises in good order and repair. Tenant, reasonable wear at its own expense, will maintain all parts of the Premises (including all parking areas) in good repair and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall promptly condition and will take all action and will make all necessary structural and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen and unforeseen and ordinary and extraordinary changes and repairs which may be required to keep all parts of the Premises in good repair and condition. Landlord shall not be required to maintain, repair or unforeseen, rebuild all or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided hereinpart of the Premises. Tenant hereby waives, to the extent permitted by law, waives the right to (i) require Landlord to maintain, repair or rebuild all or any part of the Premises, or (ii) make repairs at the expense of Lessor Landlord pursuant to any law Legal Requirement, contract, covenant, condition or restriction set forth in effect subsection 2.2(b)(ii), at the any time of the execution of this Lease or thereafter enactedin effect.
(cb) Except as expressly set forth in this LeaseIf all or any part of the Improvements shall encroach upon any property, nothing contained in this Lease and no action street or inaction by Lessor right-of-way adjoining or adjacent to the Premises, or shall be construed as violate the agreements or conditions affecting the Premises, or any Legal Requirements, or shall hinder, obstruct or impair any easement or right-of-way to which the Premises are subject, then, promptly after written request of Landlord (unless such encroachment, violation, hindrance, obstruction or impairment is a Permitted Exception) or of any person so affected, Tenant shall, at its expense, either (i) constituting the consent obtain valid and effective waivers or request settlements of Lessorall claims, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereofliabilities and damages resulting therefrom, or (ii) giving Tenant any rightmake such changes, power including alteration or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may createremoval, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant Improvements and take such other action as shall be necessary to maintain the Leased Property in good order and repair during the entire Term)remove or eliminate such encroachments, violations, hindrances, obstructions or impairments, provided that, if Landlord's consent is required for such changes pursuant to this Lease, Landlord's consent shall have been obtained, which consent shall not be unreasonably withheld.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 3 contracts
Samples: Lease Agreement (Windrose Medical Properties Trust), Lease Agreement (Windrose Medical Properties Trust), Lease Agreement (Windrose Medical Properties Trust)
Maintenance and Repair. (a) Subject to Landlord's obligation under Section 9.1(b), Tenant, at its expense, shall keep each the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s 's control (and Tenant’s 's Personal Property) in good order and repair, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s 's use, any prior use, the elements or the age of such Leased Property, Property or Tenant’s 's Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, of either) and shall promptly make all necessary and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or unforeseen, arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)) occurring subsequent or prior to the Commencement Date. All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its the Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description Notwithstanding anything herein to the applicable Leased Propertycontrary, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or Landlord shall promptly make all necessary and appropriate repairs and replacements to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make (other than those repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as replacements (i) constituting caused by the consent negligence or request wilfull misconduct of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property Tenant or any part thereofPerson claiming by, through or under Tenant or (ii) giving required as a result of Casualty or Condemnation to the Leased Property) the costs of which are required to be depreciated under the Internal Revenue Code on a 39-year basis (or any successor period of depreciation for buildings) ("39-Year Property") in an amount not in excess of the amount specified on Schedule 9.1(b) hereto under the column captioned "Landlord's Responsibility," provided (x) Landlord's obligation pursuant to the above terms of the sentence shall be subject to prior reasonable notice from Tenant any right, power or permission as to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or need to make any agreement such repair and replacement, and (y) Landlord may elect that may createTenant perform such repair and replacement, in which event, Landlord shall reimburse or pay to Tenant, within fifteen (15) days after Tenant's submission to Landlord of reasonable evidence of the out-of-pocket costs incurred by Tenant in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.making such repairs and replacements. Further,
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e1) Tenant shall establish make all necessary and maintain any reserve accounts reasonably appropriate repairs and replacements required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at in respect of 39-Year Property to the Leased Property.extent the same exceed the amount specified on said Schedule 9.1
Appears in 3 contracts
Samples: Master Lease Agreement (Vornado Operating Co), Master Lease Agreement (Vornado Operating Co), Master Lease Agreement (Vornado Operating Co)
Maintenance and Repair. (a) Tenant, at its expenseexpense and without the prior consent of Landlord, shall keep each maintain the Leased Property and Tenant’s Property, and every portion thereof, and all private roadways, sidewalks and curbs appurtenant thereto to the Leased Property, and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (repair whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such the Leased Property, Property and Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, shall promptly make all reasonably necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, including those necessary to ensure continuing compliance with all Legal Requirements, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)Commencement Date. All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant will not take or omit to take any action the taking or omission of which might would reasonably be expected to materially impair the value or the usefulness of the applicable Leased Property or any part thereof or any Capital Improvement thereto for its Primary Intended Use.
(b) Lessor Landlord shall not under any circumstances be required to (i) build or rebuild any improvements on any the Leased Property, or to ; (ii) make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, ; or to (iii) maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor Landlord pursuant to any law in effect at the time of the execution of this Master Lease or thereafter hereafter enacted.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Master Lease and no action or inaction by Lessor Landlord shall be construed as (i) constituting the consent or request of LessorLandlord, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, thereof or any Capital Improvement thereto; or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor Landlord in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor Landlord in any the Leased Property, or any portion thereofthereof or upon the estate of Landlord in any Capital Improvement thereto.
(d) Tenant willshall, upon the expiration or prior earlier termination of the Term, vacate and surrender the applicable Leased Property (including all Capital Improvements, subject to Lessor the provisions of Article X), in each case with respect to such Facility, to Landlord in the condition in which such Leased Property was originally received from LessorLandlord and Capital Improvements were originally introduced to such Facility, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Master Lease and except for ordinary wear and tear tear.
(subject to the obligation of Tenant e) Without limiting Tenant’s obligations to maintain the Leased Property and Tenant’s Property under this Master Lease, within thirty (30) days after the end of each calendar year (commencing with the calendar year that first commences following the Commencement Date), Tenant shall provide Landlord with evidence satisfactory to Landlord in good order the reasonable exercise of Landlord’s discretion that Tenant has in such calendar year spent, with respect to the Leased Property and Tenant’s Property, an aggregate amount equal to at least 1% of its actual Net Revenue from the Facilities for such calendar year on installation or restoration and repair during or other improvement of items, which installations, restorations and repairs and other improvements are capitalized in accordance with GAAP with an expected life of not less than three (3) years. If Tenant fails to make at least the entire Term)above amount of expenditures and fails within sixty (60) days after receipt of a written demand from Landlord to either (i) cure such deficiency or (ii) obtain Landlord’s written approval, in its reasonable discretion, of a repair and maintenance program satisfactory to cure such deficiency, then the same shall be deemed an Event of Default hereunder.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 3 contracts
Samples: Master Lease (Boyd Gaming Corp), Master Lease (Boyd Gaming Corp), Master Lease (Gaming & Leisure Properties, Inc.)
Maintenance and Repair. (a) TenantUnless caused by Lessee's negligence or willful misconduct or that of its employees or agents, at its expenseLessee shall not be required to bear the cost of any Capital Improvements. Lessor shall be responsible for all Capital Expenditures, shall keep each Leased Property and subject to Lessor's right to approve all private roadwaysCapital Expenditures, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (whether connection with Lessor's approval or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall promptly make all necessary and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement deemed approval of the Term (concealed or otherwise)Capital Budget pursuant to Section 3.6. All repairs shallExcept as set forth in the preceding sentence, nothing herein shall be construed to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) require Lessor shall not under any circumstances be required to build or rebuild any improvements improvement on any the Leased Property, or to make fund any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any the Leased Property in any way, except way (other than Capital Expenditures pursuant to an approved Capital Budget as expressly provided hereincontemplated by Section 3.6). Tenant Lessee hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted. Lessor shall have the right to give, record and post, as appropriate, notices of nonresponsibility under any mechanic's lien laws now or hereafter existing.
(b) Lessee will keep the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto that are under Lessee's control, including windows and plate glass, parking lots, mechanical, electrical and plumbing systems and equipment (including conduit and ductwork), and non-load bearing interior walls, in good order and repair, except for ordinary wear and tear (whether or not the need for such repairs occurred as a result of Lessee's use, any prior use, the elements or the age of the Leased Property, or any portion thereof), and, except as otherwise provided in Articles XIV or XV, with reasonable promptness, make all necessary and appropriate repairs, replacements, and improvements thereto of every kind and nature, whether interior or exterior, ordinary or extraordinary, foreseen or unforeseen, or arising by reason of a condition existing prior to the commencement of the Term of this Lease (concealed or otherwise), or required by any governmental agency having jurisdiction over the Leased Property, except as to the structural elements of the Leased Improvements. All repairs shall, to the extent reasonably achievable, be at least equivalent in quality to the original work. Lessee will not take or omit to take any action, the taking or omission of which might materially impair the value or the usefulness of the Leased Property or any part thereof for its Primary Intended Use. Notwithstanding any other provision of this Lease, however, other than under Articles XIV and XV on the conditions set forth therein, Lessee shall not be required to bear the costs of complying with this section with respect to items classified as capital items under U.S. generally accepted accounting principles.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, or (ii) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, for any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any the Leased Property, or any portion thereof.
(d) Tenant Lessee will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such the Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant Lessee to maintain the Leased Property in good order and repair accordance with Section 9.1(b) above during the entire TermTerm of the Lease, or damage by casualty or Condemnation (subject to the obligations of Lessee to restore or repair as set forth herein).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 3 contracts
Samples: Lease Agreement (Strategic Hotel Capital Inc), Lease Agreement (Strategic Hotel Capital Inc), Lease Agreement (Strategic Hotel Capital Inc)
Maintenance and Repair. (a) Tenant, at its expenseexpense and without the prior consent of Landlord, shall keep each maintain the Leased Property and Tenant’s Property, and every portion thereof, and all private roadways, sidewalks and curbs appurtenant thereto to the Leased Property, and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (repair whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such the Leased Property, Property and Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, shall promptly make all reasonably necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, including those necessary to ensure continuing compliance with all Legal Requirements, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)Commencement Date. All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant will not take or omit to take any action the taking or omission of which might would reasonably be expected to materially impair the value or the usefulness of the applicable Leased Property or any part thereof or any Capital Improvement thereto for its Primary Intended Use.
(b) Lessor Landlord shall not under any circumstances be required to (i) build or rebuild any improvements on any the Leased Property, or to ; (ii) make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, ; or to (iii) maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor Landlord pursuant to any law in effect at the time of the execution of this Master Lease or thereafter hereafter enacted.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Master Lease and no action or inaction by Lessor Landlord shall be construed as (i) constituting the consent or request of LessorLandlord, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, thereof or any Capital Improvement thereto; or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor Landlord in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor Landlord in any the Leased Property, or any portion thereofthereof or upon the estate of Landlord in any Capital Improvement thereto.
(d) Tenant willshall, upon the expiration or prior earlier termination of the Term, vacate and surrender the applicable Leased Property (including all Capital Improvements, subject to Lessor the provisions of Article X), in each case with respect to such Facility, to Landlord in the condition in which such Leased Property was originally received from LessorLandlord and Capital Improvements were originally introduced to such Facility, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Master Lease and except for ordinary wear and tear tear.
(subject to the obligation of Tenant e) Without limiting Tenant’s obligations to maintain the Leased Property and Tenant’s Property under this Master Lease, within thirty (30) days after the end of each calendar year (commencing with the calendar year ending [December 31, 201 ]), Tenant shall provide Landlord with evidence satisfactory to Landlord in good order the reasonable exercise of Landlord’s discretion that Tenant has in such calendar year spent, with respect to the Leased Property and Tenant’s Property, an aggregate amount equal to at least 1% of its actual Net Revenue from the Facilities for such calendar year on installation or restoration and repair during or other improvement of items, which installations, restorations and repairs and other improvements are capitalized in accordance with GAAP with an expected life of not less than three (3) years. If Tenant fails to make at least the entire Term)above amount of expenditures and fails within sixty (60) days after receipt of a written demand from Landlord to either (i) cure such deficiency or (ii) obtain Landlord’s written approval, in its reasonable discretion, of a repair and maintenance program satisfactory to cure such deficiency, then the same shall be deemed an Event of Default hereunder.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 3 contracts
Samples: Merger Agreement (PNK Entertainment, Inc.), Master Lease (PNK Entertainment, Inc.), Merger Agreement (Pinnacle Entertainment Inc.)
Maintenance and Repair. (a) Tenant, at its expenseexpense and without the prior consent of Landlord, shall keep each maintain the Leased Property and every portion thereof, and all private roadways, sidewalks and curbs appurtenant thereto to the Leased Property, and which are under Tenant’s or any subtenant’s control (and Tenant’s Personal Property) in reasonably good order and repair, reasonable wear and tear excepted (repair whether or not the need for such repairs occurs as a result of Tenant’s or any subtenant’s use, any prior use, the elements or the age of such the Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, shall promptly make all reasonably necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, including those necessary to ensure continuing compliance with all Legal Requirements, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement Commencement Date. Tenant shall maintain Tenant’s Property (except Intellectual Property which is subject to Section 6.3) as Tenant reasonably determines is necessary or desirable for conduct of the Term (concealed or otherwise)Primary Intended Use at the Facilities. All repairs shall, to Landlord acknowledges that the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness condition of the applicable Leased Property or any part thereof for its Primary Intended UseFacilities and the other matters described in the first sentence of this Section 9.1 on the Commencement Date satisfies the requirements of this Article IX.
(b) Lessor Landlord shall not under any circumstances be required to (i) build or rebuild any improvements on any the Leased Property, or to ; (ii) make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, ; or to (iii) maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor Landlord pursuant to any law in effect at the time of the execution of this Master Lease or thereafter hereafter enacted.
(c) Except as expressly set forth in this LeaseSubject to the specific provisions of Section 41.15, nothing contained in this Master Lease and no action or inaction by Lessor Landlord shall be construed as (i) constituting the consent or request of LessorLandlord, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, thereof or any Capital Improvement thereto; or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor Landlord in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor Landlord in any the Leased Property, or any portion thereofthereof or upon the estate of Landlord in any Capital Improvement thereto.
(d) Tenant willshall, upon the expiration or prior earlier termination of the Term, vacate and surrender the applicable Leased Property (including all Capital Improvements, subject to Lessor the provisions of Article X), in each case with respect to such Facility, to Landlord in the condition in which such Leased Property was originally received from LessorLandlord and Capital Improvements were originally introduced to such Facility, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Master Lease and except for ordinary wear and tear (tear, subject to the obligation of Tenant casualty and Condemnation as provided in Article XIV and XV.
(e) Without limiting Tenant’s obligations to maintain the Leased Property and Tenant’s Property under this Master Lease, within sixty (60) days after the end of each calendar year (commencing with the calendar year ending December 31, 2022), Tenant shall provide Landlord with evidence satisfactory to Landlord in good order the reasonable exercise of Landlord’s discretion that Tenant has in such calendar year spent, with respect to the Leased Property and Tenant’s Property, an aggregate amount equal to at least one percent (1%) of the actual Net Revenue of Tenant Parties (without duplication) from the Facilities for such calendar year on installation or restoration and repair during or other improvement of items, which installations, restorations and repairs and other improvements are capitalized in accordance with GAAP with an expected life of not less than three (3) years. If Tenant fails to make at least the entire Term)above amount of expenditures and fails within sixty (60) days after receipt of a Notice from Landlord to either (i) cure such deficiency or (ii) obtain Landlord’s written approval, in its reasonable discretion, of a repair and maintenance program satisfactory to cure such deficiency, then the same shall be deemed a default hereunder. Net Revenue and expenditures satisfying the requirements of this Section 9.1(e) attributable to a removed Facility shall be included for purposes of the respective calculations under this section in respect of any period prior to the removal date of such removed Facility.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 3 contracts
Samples: Master Lease (VICI Properties L.P.), Master Lease (VICI Properties L.P.), Master Lease (MGM Resorts International)
Maintenance and Repair. (a) TenantExcept for any Alterations that Tenant is permitted to make pursuant to this Lease, Tenant shall at its expenseall times from and after the Commencement Date, shall including any Requisition period, put, keep each and maintain the Leased Property Premises (including, without limitation, the roof, landscaping, walls, footings, foundations and all private roadwaysstructural components of the Leased Premises) and the Equipment in a similar (or better) condition and order of repair as exists as of the Commencement Date, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable except for ordinary wear and tear excepted (whether or not and the need for such repairs occurs as loss of a result part of Tenant’s usethe Leased Premises pursuant to a partial Condemnation with respect to which restoration is impossible, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, and shall promptly make all necessary and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen unforeseen, which may be required to be made upon or arising in connection with the Leased Premises in order to keep and maintain the Leased Premises in the order and condition required by this Paragraph 11(a). Tenant shall do or cause others to do all shoring of the Leased Premises or of foundations and walls of the Improvements and every other act necessary or appropriate for preservation and safety thereof, by reason of a condition existing prior to the commencement or in connection with any excavation or other building operation upon any of the Term (concealed Leased Premises, whether or otherwise). All repairs not Landlord shall, to the extent reasonably achievableby reason of any Legal Requirements or Insurance Requirements, be made required to take such action or be liable for failure to do so. LANDLORD SHALL NOT BE REQUIRED TO MAKE ANY REPAIR, WHETHER FORESEEN OR UNFORESEEN, OR TO MAINTAIN ANY OF THE LEASED PREMISES OR ADJOINING PROPERTY IN ANY WAY, AND TENANT HEREBY EXPRESSLY WAIVES THE RIGHT TO MAKE REPAIRS AT THE EXPENSE OF THE LANDLORD, WHICH RIGHT MAY BE PROVIDED FOR IN ANY LAW NOW OR HEREAFTER IN EFFECT. Tenant shall, in all events, make all repairs for which it is responsible hereunder promptly, and all repairs shall be in a good, proper and workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor Subject to Paragraph 18, in the event that any Improvement shall not under violate any circumstances be required Legal Requirements or Insurance Requirements and as a result of such violation enforcement action is threatened or commenced against Tenant or with respect to build the Leased Premises, then Tenant, at the request of Landlord, shall either (i) obtain valid and effective waivers or rebuild any improvements on any Leased Propertysettlements of all claims, liabilities and damages resulting from each such violation, whether the same shall affect Landlord, Tenant or both, or (ii) take such action as shall be necessary to make any repairsremove such violation, replacementsincluding, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by lawif necessary, the right to make repairs at making of an Alteration. Any such repair or Alteration shall be made in conformity with the expense provisions of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enactedParagraph 12.
(c) Except If Tenant shall be in default under any of the provisions of this Pxxxxxxxx 00, Xxxxxxxx may after thirty (30) days written notice given to Tenant and failure of Tenant to cure during said period, but with such shorter notice that is appropriate under the circumstances in the event of an emergency, do whatever is reasonably necessary to cure such default as expressly set forth in this Leasemay be appropriate under the circumstances for the account of and at the expense of Tenant. In the event of an emergency Landlord shall notify Tenant of the situation by phone or other available communication. All reasonable sums so paid by Landlord and all reasonable costs and expenses (including, nothing contained in without limitation, reasonable attorneys’ fees and expenses) so incurred, together with interest thereon at the Default Rate from the date of payment or incurring the expense, shall constitute Additional Rent payable by Tenant under this Lease and no action or inaction by Lessor shall be construed as paid by Tenant to Landlord within five (i5) constituting the consent or request Business Days of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofdemand.
(d) Tenant will, upon the expiration or prior termination shall from time to time replace with Replacement Equipment any of the TermEquipment which shall have become worn out or unusable for the purpose for which it is intended, vacate been taken by a Condemnation as provided in Paragraph 13, or been lost, stolen, damaged or destroyed as provided in Paragraph 14. Tenant shall repair at its sole cost and surrender expense all damage to the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required Premises caused by the provisions removal of this Lease and except for ordinary wear and tear (subject to the obligation Equipment or Replaced Equipment or other personal property of Tenant to maintain or the Leased Property in good order installation of Replacement Equipment. All Replacement Equipment shall become the property of Landlord, shall be free and repair during clear of all liens and rights of others and shall become a part of the entire Term)Equipment as if originally demised herein.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 3 contracts
Samples: Lease Agreement (Old National Bancorp /In/), Lease Agreement (Old National Bancorp /In/), Lease Agreement (Old National Bancorp /In/)
Maintenance and Repair. (a) Tenant, at its expense, shall keep each the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, ) and shall promptly make all necessary and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or unforeseen, arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)) occurring subsequent or prior to the Commencement Date. All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such workLegal Requirements. Tenant will not take or omit to take any action the taking or omission of which might would materially impair the value or usefulness of the applicable Leased Property or any part thereof for its the Primary Intended Use, except as permitted under Section 8.1 or required by Legal Requirements or Insurance Requirements.
(b) Lessor Except as otherwise expressly provided herein, Landlord shall not under any circumstances be required to build or rebuild any improvements on any the Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor Landlord pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Lease herein and no action or inaction by Lessor Landlord shall be construed as (i) constituting the consent or request of LessorLandlord, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereofProperty, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor Landlord in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor Landlord in any the Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the TermTerm with respect to any Leased Property, vacate and surrender the applicable Leased Property same to Lessor Landlord in the condition in which such Leased Property the same was originally received from LessorLandlord, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) . In addition, Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at remove Tenant’s Personalty from the Leased PropertyProperty in a manner that will not damage the Leased Property in any material respect or if it does, Tenant shall promptly repair the same.
Appears in 3 contracts
Samples: Master Lease Agreement (Toys R Us Property Co II, LLC), Master Lease Agreement (Toys R Us Property Co II, LLC), Master Lease Agreement (Toys R Us Property Co I, LLC)
Maintenance and Repair. During the Lease Term, Lessees, at their own expense, shall at all times (a) Tenantmaintain the Equipment in as good an operating and mechanical condition as when delivered, at its expensesubject to ordinary wear and tear, shall keep each Leased Property and in any event in accordance with standards no lower than the highest of those applied by the Lease Obligors or any of their Affiliates to similar equipment owned or leased by them; (b) maintain the Equipment in accordance with prudent industry practice and all private roadwaysApplicable Laws, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (whether or not such maintenance requires structural modifications; (c) comply in all respects with, and maintain the need for such repairs occurs as a result Equipment in accordance with, all Insurance Requirements and the terms of Tenant’s use, all contracts (including service contracts) which are in effect at any prior use, time with respect to the elements or the age of such Leased Property, Tenant’s Personal Property, Equipment or any portion thereof)part thereof and in accordance with standard industry maintenance practices as required to maintain in full force and effect all warranties applicable to the Equipment; (d) use the Equipment only in accordance with Article VIII and cause the Equipment to have at all times the capacity and functional ability to be used, andon a continuing basis and in commercial operation, in accordance with Article VIII except as otherwise provided in ARTICLE XIV, shall promptly during any period for which any Casualty or Condemnation prevents such use; (e) make all necessary or appropriate repairs, replacements and appropriate repairs and replacements thereto, renewals of every kind and naturethe Equipment or any part thereof which may be required to keep the Equipment in the condition required by the preceding clauses (a) through (d), whether interior or exterior, structural or non-structuralnonstructural, ordinary or extraordinary, foreseen or unforeseen unforeseen, and including repairs, replacements and renewals that would constitute capital expenditures under GAAP if incurred by an owner of property; and (f) procure, maintain and comply in all material respects with all material licenses, permits, orders, approvals, consents and other authorizations required for the manufacture, installation, construction, use, maintenance and operation of the Equipment. In no event shall any Lessee discriminate as to the use or arising maintenance of the Equipment or any Part thereof (including periodicity of maintenance or record keeping in respect of the Equipment and including discrimination with respect to the installation of any Modifications required by reason Applicable Laws that may be phased in over a period of time or any discrimination based on the leased, rather than owned, status of the Equipment) as compared to properties of a condition existing prior similar nature in which any Lessee has any ownership or leasehold interest. Each Lessee waives any right that it may now have or hereafter acquire to the commencement of the Term (concealed x) require Lessor to maintain, repair, replace, alter, remove or otherwise). All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with rebuild all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
of the Equipment or (by) Lessor shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials Applicable Laws or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofagreements.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Master Lease (Mandalay Resort Group), Master Lease (Mandalay Resort Group)
Maintenance and Repair. (a) TenantTenant shall at all times maintain each Related Premises and the Adjoining Property in as good repair and appearance as each is in on the date hereof and fit to be used for their intended use in accordance with the better of the practices generally recognized as then acceptable by other companies in its industry or observed by Tenant with respect to the other real properties owned or operated by it, at and, in the case of the Fixtures, in as good mechanical condition as it was on the later of the date hereof or the date of its expenseinstallation, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable except for ordinary wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIVsubject to Paragraph 17, damage by Casualty or Condemnation. Tenant shall take every other action necessary or appropriate for the preservation and safety of each Related Premises. Tenant shall promptly make all necessary and appropriate repairs and replacements thereto, Alterations of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shallunforeseen, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances may be required to build or rebuild any improvements on any Leased Property, or comply with the foregoing requirements of this Paragraph 12(a). Landlord shall not be required to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased PropertyAlteration, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, maintain either Related Premises or to maintain any Leased Adjoining Property in any way, except as expressly provided herein. and Tenant hereby waives, to the extent permitted by law, the expressly waives any right which may be provided for in any Law now or hereafter in effect to make repairs Alterations at the expense of Lessor Landlord or to require Landlord to make Alterations. Any Alteration made by Tenant pursuant to any law this Paragraph 12 shall be made in effect at conformity with the time provisions of the execution of this Lease or thereafter enactedParagraph 13.
(cb) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor If any Improvement hereafter constructed shall be construed as (i) constituting encroach upon any setback or any property, street or right-of-way adjoining any of the consent Leased Premises, (ii) violate the provisions of any restrictive covenant affecting any of the Leased Premises, (iii) hinder or request obstruct any easement or right-of-way to which any of Lessor, express the Leased Premises is subject or implied(iv) impair the rights of others in, to or under any contractorof the foregoing, subcontractorTenant shall, laborerpromptly after receiving notice or otherwise acquiring knowledge thereof, materialman either (A) obtain from all necessary parties waivers or vendor to settlements of all claims, liabilities and damages resulting from each such encroachment, violation, hindrance, obstruction or for impairment, whether the performance of any labor same shall affect Landlord, Tenant or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereofboth, or (iiB) giving Tenant any righttake such action as shall be necessary to remove all such encroachments, power hindrances or permission obstructions and to contract for end all such violations or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the impairments, including, if necessary, making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofAlterations.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Lease Agreement (Truserv Corp), Lease Agreement (Corporate Property Associates 15 Inc)
Maintenance and Repair. (a) Tenant, at its expense, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s 's control (and Tenant’s 's Personal Property) in good order and repair, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s 's use, any prior use, the elements or the age of such Leased Property, Tenant’s 's Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE Article XIV, shall promptly make all necessary and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-non- structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Master Lease Agreement (Vencor Healthcare Inc), Master Lease Agreement (Ventas Inc)
Maintenance and Repair. (a) TenantLessee, at its all times during the Lease Term and at Lessee’s expense, shall keep each Leased Property the Demised Premises, and all private roadwaysImprovements now or hereafter located thereon, sidewalks and curbs appurtenant thereto all facilities and which are under Tenant’s control (equipment thereon, and Tenant’s Personal Property) the adjoining sidewalks, curbs, vaults and vault space, if any, streets and ways, and all appurtenances to the Demised Premises, in a good and clean order and repaircondition and in such condition as may be required by all Legal Requirements and Insurance Requirements, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, promptly shall promptly make all necessary or appropriate repairs, replacements and appropriate repairs and replacements thereto, of every kind and naturerenewals thereof, whether interior or exterior, structural or non-structuralnonstructural, ordinary or extraordinary, or foreseen or unforeseen unforeseen. All repairs, replacements and renewals shall be equal in quality and class to the original work. Lessee waives any right created by any law now or arising hereafter in force to make repairs to the Demised Premises at Lessor’s expense. Lessee, at Lessee’s expense, shall do or cause others to do every act necessary or appropriate for the preservation and safety of the Demised Premises by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Leaseany excavation or other building operation upon the Demised Premises or any adjoining property, or to maintain any Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense including without limitation all shoring of Lessor pursuant to any law in effect at the time foundations and walls of the execution Improvements or of this Lease the ground adjacent thereto, whether or thereafter enacted.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no not the owner of the Demised Premises shall be required by any Legal Requirement to take such action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, liable for failure to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofdo so.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Lease (Atlantic Express Transportation Corp), Lease (Atlantic Express Transportation Corp)
Maintenance and Repair. (a) Tenant9.1.1 Lessee, at its expense, shall keep each maintain the Leased Property, and every portion thereof, Lessee’s Personal Property and all Capital Additions, and all private roadways, sidewalks and curbs appurtenant thereto to the Leased Property, and which are under TenantLessee’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (repair whether or not the need for such repairs occurs as a result of TenantLessee’s use, any prior use, the elements or the age of such the Leased Property, TenantLessee’s Personal Property, or any portion thereof)Property and all Capital Additions, and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, shall promptly make all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, including those necessary to comply with changes in any Legal Requirements, whether interior or exterior, structural or non-structuralnonstructural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)Commencement Date. All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant Lessee will not take or omit to take any action the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property of any Facility or any part thereof or any Capital Addition thereto for its Primary Intended Use.
(b) 9.1.2 Lessor shall not under any circumstances be required to (i) build or rebuild any improvements on the Leased Property or any Leased Property, or to Capital Additions; (ii) make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structuralnonstructural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, ; or to (iii) maintain any the Leased Property or any Capital Additions in any way, except as expressly provided herein. Tenant Lessee hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted.
(c) Except as expressly set forth in this Lease, nothing 9.1.3 Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, thereof or any Capital Addition thereto; or (ii) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any the Leased Property, or any portion thereofthereof or any Capital Addition thereto.
(d) Tenant will9.1.4 Unless Lessor shall convey any of the Leased Property to Lessee pursuant to the provisions of this Lease, Lessee shall, upon the expiration or prior earlier termination of the TermTerm with respect to a Facility, vacate and surrender the applicable Leased Property, Lessee’s Personal Property and all Capital Additions, in each case with respect to such Facility, to Lessor in the condition in which such Leased Property was originally received from LessorLessor and such Lessee’s Personal Property and Capital Additions were originally introduced to such Facility, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term)tear.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Project Bond Lease Portfolio (Emeritus Corp\wa\), Master Lease and Security Agreement (Emeritus Corp\wa\)
Maintenance and Repair. (a) Tenant, at its expense, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s 's control (and Tenant’s 's Personal Property) in good order and repair, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s 's use, any prior use, the elements or the age of such Leased Property, Tenant’s 's Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE Article XIV, shall promptly make all necessary ----------- and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Master Lease Agreement (Kindred Healthcare Inc), Master Lease Agreement (Kindred Healthcare Inc)
Maintenance and Repair. (a) 9.1.1 Tenant, at its expense, shall keep each the Leased Property leased by it and all fixtures thereon and all landscaping, private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s 's control (and Tenant’s 's Personal Property) Property in good order and repair, reasonable wear and tear excepted repair (whether or not the need for such repairs occurs as a result of Tenant’s 's use, any prior use, the elements or the age of such the applicable Leased Property, Tenant’s Personal Property, Property or any portion thereof, or any cause whatever except the failure of Landlord to make any payment or to perform any act expressly required under the Lease or the negligence or willful misconduct of Landlord), and, except as otherwise may be provided to the contrary in ARTICLE XIVArticle 14, shall promptly with reasonable promptness, make all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term of this Lease (concealed or otherwise).
9.1.2 Tenant shall do or cause others to do all shoring of the Leased Property leased by it or adjoining property (whether or not owned by Landlord) or of the foundations and walls of the Leased Improvements, and every other act necessary or appropriate for the preservation and safety thereof, by reason of or in connection with any subsidence, settling or excavation or other building operation upon the Leased Property leased by it or adjoining property, whether or not Tenant or Landlord shall, by any Legal Requirements, be required to take such action or be liable for the failure to do so; provided, however, that such shoring and any other material acts shall be subject to the prior written consent of Landlord, which shall not unreasonably be withheld or delayed. All repairs shall, to the extent reasonably achievable, be at least equivalent in quality to the original work, and, subject to the provisions of paragraph 9.1.6, where, by reason of age or condition, such repairs cannot be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness quality of the applicable Leased Property or any part thereof for its Primary Intended Useoriginal work, the property to be repaired shall be replaced.
(b) Lessor 9.1.3 Landlord shall not under any circumstances be required to build or rebuild any improvements on the Leased Property or on any Leased Propertyproperty appurtenant thereto, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or upon any adjoining property, whether to provide lateral or other support for the Leased Property or xxxxx a nuisance affecting the Leased Property, or otherwise, or to make any expenditure whatsoever with respect thereto, in connection with this the Lease, or to maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, any right provided by law, but not provided by the right terms of this Lease, to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enactedLandlord.
(c) Except as expressly set forth in this Lease, nothing 9.1.4 Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (ia) constituting the consent or request of LessorLandlord, express expressed or implied, to any contractor, subcontractor, laborer, materialman materialmen or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, or (iib) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor Landlord in respect thereof or to make any agreement that may create, or in any way be the basis for, for any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor Landlord in any the Leased Property, Property or any portion thereof. Landlord shall have the right to give, record and post, as appropriate, notices of non-responsibility under any mechanics' and construction lien laws now or hereafter existing.
9.1.5 Tenant shall, from time to time as and when needed, replace with Replacement Property any of the Fixtures or Personal Property which shall have (da) become worn out, obsolete or unusable for the purpose for which it is intended (if such Fixtures or Personal Property continues to be necessary), (b) been the subject of a Taking (in which event Tenant willshall be entitled to that portion of any Award made therefor), upon or (c) been lost, stolen or damaged or destroyed; provided, however, that the Replacement Property shall (i) be in good operating condition, (ii) be of a quality reasonably equivalent to that of the Replaced Property and (iii) be suitable for a use which is the same or similar to that of the Replaced Property. Tenant shall repair at its sole cost and expense all damage to the applicable Leased Property caused by the removal of Replaced Property or other personal property of Tenant or the installation of Replacement Property. All Replacement Property shall become the property of Landlord and shall become Fixtures or Landlord's Personal Property, as the case may be, to the same extent as the Replaced Property had been. Upon Landlord's written request Tenant shall with reasonable promptness cause to be executed and delivered to Landlord an invoice, xxxx of sale or other appropriate instrument evidencing the transfer or assignment to Landlord of all estate, right, title and interest (other than the leasehold estate created hereby) of Tenant or any other Person in and to any Replacement Property the cost of which exceeds Twenty Five Thousand Dollars ($25,000), free from all liens and other exceptions to title, and Tenant shall pay all taxes, fees, costs and other expenses that may become payable as a result thereof.
9.1.6 Upon the expiration or prior earlier termination of the Term, Tenant shall vacate and surrender the applicable Leased Property leased by it to Lessor Landlord as a fully equipped, licensed health care facility, with all equipment required by the laws of the State of Idaho to maintain its then current license, and shall assign and transfer to Landlord (or to another Person designated by Landlord) the Facility Trade Names, local telephone numbers, local electronic mail and "Internet" addresses, if any, under which the Facility is then conducting business, and all Facility-specific licenses, permits and rights to do business of every kind (subject to such governmental approvals as may be required), patient admission agreements and records, supplier and operator contracts, a copy of all then-current data maintained by Tenant in writing or recorded on computer media with respect to the condition business of the Facility and all computer software necessary to access and manipulate such data. Tenant shall not be required to transfer proprietary software to Landlord, but shall cause the data it is to transfer to Landlord to be transferred to Landlord, without charge. At the expiration of the Term or the sooner termination of this Lease, the Leased Property, including all Leased Improvements, Fixtures and Landlord's Personal Property, shall be returned to Landlord in which such Leased Property was originally received from Lessorgood operating condition, ordinary wear and tear, Taking and casualty damage that Tenant is not required by this Lease to repair or restore, excepted, and except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear Lease. Notwithstanding anything to the contrary in this Lease, not more than fifty percent (50%) of the value of the Personal Property returned to Landlord as required herein may at the time of such return be subject to Purchase Money Financing, and at the obligation time of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) such return Tenant shall establish assign to Landlord all of its right, title and maintain interest in and to such any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Propertyall documents evidencing such Purchase Money Financing.
Appears in 2 contracts
Samples: Lease Agreement (Monarch Properties Inc), Lease (Monarch Properties Inc)
Maintenance and Repair. (a) TenantLessee, at its sole expense, shall will keep each the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable except for ordinary wear and tear excepted (whether or not the need for such repairs occurs occurred as a result of Tenant’s Lessee's use, any prior use, the elements or the age of such the Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIVArticle XIV or Article XV, shall promptly with reasonable promptness, make all necessary and appropriate repairs repairs, replacements, and replacements thereto, improvements thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term term of this Lease (concealed or otherwise), or required by any governmental agency having jurisdiction over the Leased Property. Lessee, however, shall be permitted to prosecute claims against Lessor's predecessors-in-title, contractors, subcontractors and suppliers for breach of any representation or warranty or for any latent defects in the Leased Property to be maintained by Lessee unless Lessor is already diligently pursuing such a claim. All repairs shall, to the extent reasonably achievable, be made at least equivalent in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating quality to such the original work. Tenant Lessee will not take or omit to take any action action, the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Notwithstanding Lessee's obligations under Article 9.1
(a) hereinabove, in the event that (i) repairs, replacements and/or improvements of the Leased Property become necessary in order to maintain the Resort in the same quality and condition as it currently exists, (ii) such repairs, replacements and/or improvements are under generally accepted accounting principles considered to be capital in nature, and (iii) the funds then available to Lessee at the Leased Property, either in the form of reserves or other income generated by the Leased Property and available to Lessee under the terms of the Management Agreement, are insufficient to enable Lessee to pay the costs of making any such repairs, replacements and/or improvements, then Lessor shall be required to bear the cost of making such repairs, replacements and/or improvements. Except as set forth in the preceding sentence, Lessor shall not under any circumstances be required to build or rebuild any improvements on any the Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any the Leased Property in any way, except as expressly provided herein. Tenant Lessee hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted. Lessor shall have the right to give, record and post, as appropriate, notices of nonresponsibility under any mechanic's lien laws now or hereafter existing.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i1) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, or (ii2) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, of any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.,
(d) Tenant Lessee will, upon the expiration or prior termination of the Termterm of this Lease, vacate and surrender the applicable Leased Property to Lessor in the condition in which such the Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant Lessee to maintain the Leased Property in good order and repair repair, as would a prudent owner, during the entire Termterm of the Lease), or damage by casualty or condemnation (subject to the obligations of Lessee to restore or repair as set forth in the Lease).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Lease Agreement (Crescent Real Estate Equities Inc), Lease Agreement (Crescent Real Estate Equities Inc)
Maintenance and Repair. (a) Tenant, Tenant shall at all times maintain each Related Premises and the Adjoining Property in as good repair and appearance and fit to be used for their intended use in accordance with the better of the practices generally recognized as then acceptable by other companies in its expense, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (whether industry or not observed by Tenant with respect to the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements other real properties owned or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof)operated by it, and, in the case of the Equipment, in as good mechanical condition as it was on the later of the date hereof or the date of its installation, except as otherwise provided in ARTICLE XIV, for ordinary wear and tear. Tenant shall take every other action necessary or appropriate for the preservation and safety of each Related Premises. Tenant shall promptly make all necessary and appropriate repairs and replacements thereto, Alterations of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shallunforeseen, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances may be required to build or rebuild any improvements on any Leased Property, or comply with the foregoing requirements of this Paragraph 12(a). Landlord shall not be required to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased PropertyAlteration, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased of the Related Premises or Adjoining Property in any way, except as expressly provided herein. and Tenant hereby waives, to the extent permitted by law, the expressly waives any right which may be provided for in any Law now or hereafter in effect to make repairs Alterations at the expense of Lessor Landlord or to require Landlord to make Alterations. Any Alteration made by Tenant pursuant to any law this Paragraph 12 shall be made in effect at conformity with the time provisions of the execution of this Lease or thereafter enactedParagraph 13.
(cb) Except as expressly set forth in this LeaseIf any Improvement, nothing contained in this Lease and no action now or inaction by Lessor hereafter constructed, shall be construed as (i) constituting encroach upon any setback or any property, street or right-of-way adjoining any of the consent Leased Premises, (ii) violate the provisions of any restrictive covenant affecting any of the Leased Premises, (iii) hinder or request obstruct any easement or right-of-way to which any of Lessor, express the Leased Premises is subject or implied(iv) impair the rights of others in, to or under any contractorof the foregoing, subcontractorTenant shall, laborerpromptly after receiving notice or otherwise acquiring knowledge thereof, materialman either (A) obtain from all necessary parties waivers or vendor to settlements of all claims, liabilities and damages resulting from each such encroachment, violation, hindrance, obstruction or for impairment, whether the performance of any labor same shall affect Landlord, Tenant or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereofboth, or (iiB) giving Tenant any righttake such action as shall be necessary to remove all such encroachments, power hindrances or permission obstructions and to contract for end all such violations or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the impairments, including, if necessary, making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofAlterations.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement (Corporate Property Associates 17 - Global INC)
Maintenance and Repair. (a) Tenant, Tenant shall at all times maintain each Related Premises and the Adjoining Property in as good repair and appearance as each is in on the date hereof and fit to be used for their intended use in accordance with the better of the practices generally recognized as then acceptable by other companies in its expense, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (whether industry or not observed by Tenant with respect to the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements other real properties owned or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof)operated by it, and, in the case of the Equipment, in as good mechanical condition as it was on the later of the date hereof or the date of its installation, except as otherwise provided in ARTICLE XIV, for ordinary wear and tear. Tenant shall take every other action necessary or appropriate for the preservation and safety of each Related Premises. Tenant shall promptly make all necessary and appropriate repairs and replacements thereto, Alterations of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shallunforeseen, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances may be required to build or rebuild any improvements on any Leased Property, or comply with the foregoing requirements of this Paragraph 12(a). Landlord shall not be required to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased PropertyAlteration, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased of the Related Premises or Adjoining Property in any way, except as expressly provided herein. and Tenant hereby waives, to the extent permitted by law, the expressly waives any right which may be provided for in any Law now or hereafter in effect to make repairs Alterations at the expense of Lessor Landlord or to require Landlord to make Alterations. Any Alteration made by Tenant pursuant to any law this Paragraph 12 shall be made in effect at conformity with the time provisions of the execution of this Lease or thereafter enactedParagraph 13.
(cb) Except as expressly set forth in this LeaseIf any Improvement, nothing contained in this Lease and no action now or inaction by Lessor hereafter constructed, shall be construed as (i) constituting encroach upon any setback or any property, street or right-of-way adjoining any of the consent Leased Premises, (ii) violate the provisions of any restrictive covenant affecting any of the Leased Premises, (iii) hinder or request obstruct any easement or right-of-way to which any of Lessor, express the Leased Premises is subject or implied(iv) impair the rights of others in, to or under any contractorof the foregoing, subcontractorTenant shall, laborerpromptly after receiving notice or otherwise acquiring knowledge thereof, materialman either (A) obtain from all necessary parties waivers or vendor to settlements of all claims, liabilities and damages resulting from each such encroachment, violation, hindrance, obstruction or for impairment, whether the performance of any labor same shall affect Landlord, Tenant or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereofboth, or (iiB) giving Tenant any righttake such action as shall be necessary to remove all such encroachments, power hindrances or permission obstructions and to contract for end all such violations or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the impairments, including, if necessary, making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofAlterations.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Lease Agreement (Spectrian Corp /Ca/), Lease Agreement (Corporate Property Associates 12 Inc)
Maintenance and Repair. (a) 9.1.1 Tenant, at its expense, shall keep each Leased Property maintain the Premises and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and the Tenant’s Personal Property) Property in good order and repair, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, shall promptly make all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)Commencement Date. All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property or any part thereof Premises for its the Primary Intended Use.
(b) Lessor 9.1.2 Landlord shall not under any circumstances be required to (a) build or rebuild any improvements on any Leased Property, or to the Premises; (b) make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased PropertyPremises, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, ; or to (c) maintain any Leased Property the Premises in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor Landlord pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted.
(c) Except as expressly set forth in this Lease, nothing 9.1.3 Nothing contained in this Lease and no action or inaction by Lessor Landlord shall be construed as (ia) constituting the consent or request of LessorLandlord, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property the Premises or any part part(s) thereof, ; or (iib) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor Landlord in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor Landlord in any Leased Property, the Premises or any portion part(s) thereof.
(d) 9.1.4 Unless Landlord shall convey any of the Premises to Tenant willpursuant to the provisions of this Lease, Tenant shall, upon the expiration or prior earlier termination of the Term, vacate and surrender the applicable Leased Premises and the Tenant’s Personal Property to Lessor Landlord in the condition in which such Leased Property the Premises was originally received from LessorLandlord or (if applicable) were originally introduced to the Premises, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term)tear.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Lease (Global Medical REIT Inc.), Lease (Global Medical REIT Inc.)
Maintenance and Repair. (a) Tenant9.1.1 Lessee, at its expense, shall will keep each the Leased Property Properties, and all landscaping, private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s Lessee's control (and Tenant’s Xxxxxx's Personal Property) Property in good order and repair, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result arises out of Tenant’s Lessee's use, any prior use, the elements or the age of such the Leased Property, Tenant’s Personal Property, Property or any portion thereof), andor any cause whatsoever except the act or negligence of Lessor, except as otherwise provided in ARTICLE XIV, and with reasonable promptness shall promptly make all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term Commencement Date (concealed or otherwise); provided, however, that Xxxxxx shall be permitted to prosecute claims against Xxxxxx's predecessor in title for breach of any representation or warranty made to or on behalf of Lessor, or for latent defects in any Leased Property. Lessee shall at all times maintain, operate and otherwise manage the Leased Properties on a quality basis and in a manner consistent with the standards of the highest quality competing facilities in the market areas served by the Leased Properties. All repairs shall, to the extent reasonably achievable, be made at least equivalent in goodquality to the original work or, workmanlike and first-class mannersubject to the provisions of Paragraph 9.1.4, in accordance with all applicable federalbelow, state and local statutes, ordinances, by-laws, codes, rules and regulations relating the property to such workbe repaired shall be replaced. Tenant Lessee will not take or omit to take any action the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property Properties or any part parts thereof for its the Primary Intended Use.
(b) 9.1.2 Lessor shall not under any circumstances be required to maintain, build or rebuild any improvements on the Leased Properties (or any Leased Propertyprivate roadways, sidewalks or curbs appurtenant thereto), or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased PropertyProperties, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or upon any adjoining property, whether to provide lateral or other support or xxxxx a nuisance, or otherwise, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided herein. Tenant Lessee hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted.
(c) Except as expressly set forth in this Lease, nothing 9.1.3 Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman materialmen or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, for any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any the Leased PropertyProperties, or any portion thereof. Lessor shall have the right to give, record and post, as appropriate, notices of non-responsibility under any mechanics' and construction lien laws now or hereafter existing.
9.1.4 Lessee shall, from time to time, promptly replace any of the Leased Improvements or Lessor's Personal Property which (di) Tenant become worn out, obsolete or unusable for the purpose for which intended, (ii) have been Taken, or (iii) have been lost, stolen, damaged or destroyed. If any of Lessor's Personal Property requires replacement as a result of damage, theft, loss or destruction or a Taking, then Lessee shall be entitled to that portion of any insurance proceeds payable in respect thereof or any Award made therefore. All replacements shall have a then value (adjusted for inflation) and utility at least equal to the value of the items replaced as of the date hereof in the case of clause (i) above, and immediately prior to the events specified in clauses (ii) and (iii) above. All replacements of Lessor's Personal Property shall be owned by Lessor and become a part of the Leased Properties immediately upon their acquisition. Lessee shall promptly repair all damage to a Leased Property incurred in the course of such replacement.
9.1.5 Lessee will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property Properties to Lessor in the condition in which such Leased Property was they were originally received from Lessor, in good operating condition, ordinary wear and tear excepted, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term)Lease.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Master Lease (Omega Healthcare Investors Inc), Master Lease (Omega Healthcare Investors Inc)
Maintenance and Repair. (a) Tenant9.1.1 Lessee, at its sole cost and expense, shall will keep each the Leased Property and Lessee's Personal Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s Lessee's control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted repair (whether or not the need for such repairs occurs as a result of Tenant’s Lessee's use, any prior use, the elements or the age of such the Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE Article XIV, shall promptly with reasonable promptness, make all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term Commencement Date (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made at least equivalent in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating quality to such the original work. Tenant Lessee will not take or omit to take any action the taking or omission of which might may materially or adversely impair the value or the usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use. Any repair work performed by Lessee shall be paid for so that no lien (I.E., mechanics', materialmen's or other liens) shall attach to the Leased Property, subject to the provisions of Article XII.
(b) 9.1.2 Lessor shall not under any circumstances be required in connection with this Lease to build or rebuild any improvements on any the Leased Property, or to make any repairs, replacements, alterations, restorations restorations, or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any the Leased Property in any way, except as expressly provided herein. Tenant Lessee hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted. Lessor shall have the right to give, record and post, as appropriate, notices of non-responsibility (or similar notices) under any mechanics' or materialmen's lien laws now or hereafter existing.
(c) Except as expressly set forth 9.1.3 Lessee shall not make any modifications, alterations or improvements to the Leased Improvements or any portion thereof, whether by addition or deletion, without Lessor's prior written consent, which consent may be given or withheld in Lessor's sole and absolute discretion; provided that Lessor shall not unreasonably withhold its consent to any non-structural modifications, alterations or improvements that do not constitute capital improvements and that are otherwise made in compliance with this Lease, nothing so long as the total cost thereof does not exceed $50,000 and the total cost in any twelve (12) month period does not exceed $100,000. Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractorsub-contractor, laborer, materialman materialman, or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair repair, or demolition of of, or to any the Leased Property or any part thereof, ; or (ii) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, for any right, title, interest, lien, claim claim, or other encumbrance upon the estate of Lessor in any the Leased Property, or any portion thereof. Lessor shall have the right to give, record and post, as appropriate, notices of non-responsibility (or similar notices) under any mechanics' or materialmen's lien laws now or hereafter existing.
(d) Tenant 9.1.4 Lessee will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such the Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of under this Lease and except for ordinary wear and tear (subject to the obligation of Tenant Lessee to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Lease (Tesseract Group Inc), Lease (Tesseract Group Inc)
Maintenance and Repair. (a) Tenant9.1.1 Lessee, at its sole cost and expense, shall will keep each the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s Lessee's control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted repair (whether or not the need for such repairs occurs as a result of Tenant’s Lessee's use, any prior use, the elements or the age of such the Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE Article XIV, shall promptly with reasonable promptness, make all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term Commencement Date (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made at least equivalent in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating quality to such the original work. Tenant Lessee will not take or omit to take any action the taking or omission of which might may materially or adversely impair the value or the usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use. Any repair work performed by Lessee shall be paid for so that no lien (i.e., mechanics', materialmen's or other liens) shall attach to the Leased Property, subject to the provisions of Article XII.
(b) 9.1.2 Lessor shall not under any circumstances be required in connection with this Lease to build or rebuild any improvements on any the Leased Property, or to make any repairs, replacements, alterations, restorations restorations, or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any the Leased Property in any way, except as expressly provided herein. Tenant Lessee hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted. Lessor shall have the right to give, record and post, as appropriate, notices of non-responsibility (or similar notices) under any mechanics' or materialmen's lien laws now or hereafter existing.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor 9.1.3 Lessee shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to not make any agreement that may createmodifications, alterations or in any way be improvements to the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, Improvements or any portion thereof, whether by addition or deletion, without Lessor's prior written consent, which consent shall not be unreasonably withheld or delayed.
(d) Tenant 9.1.4 Lessee will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such the Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of under this Lease and except for ordinary wear and tear (subject to the obligation of Tenant Lessee to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Lease (New York Bagel Enterprises Inc), Lease Agreement (New York Bagel Enterprises Inc)
Maintenance and Repair. (a) Tenant, at its expense, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s 's control (and Tenant’s 's Personal Property) in good order and repair, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s 's use, any prior use, the elements or the age of such Leased Property, Tenant’s 's Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE Article XIV, shall promptly make all necessary and appropriate repairs and ----------- replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Master Lease Agreement (Ventas Inc), Master Lease Agreement (Kindred Healthcare Inc)
Maintenance and Repair. (a) Tenant9.1.1 Lessee shall, at its expenseno expense to Lessor, shall keep each maintain the Leased Property, and every portion thereof, Lessee’s Personal Property and all Capital Additions, and all private roadways, sidewalks and curbs appurtenant thereto to the Leased Property, and which are under TenantLessee’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted repair (to the extent necessary to maintain continued operation of the same in a manner consistent with the standard set forth in Section 7.2.4) whether or not the need for such repairs occurs as a result of TenantLessee’s use, any prior use, the elements or the age of such the Leased Property, TenantLessee’s Personal Property, or any portion thereof)Property and all Capital Additions, and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, Lessee shall promptly make or cause to be made all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, including those necessary to comply with changes in any material Legal Requirements, subject to Article XII regarding permitted contests, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)Commencement Date. All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant Lessee will not take or omit to take any action the taking or omission of which might would reasonably be expected to materially impair the value or the usefulness of the applicable Leased Property Property, any Capital Additions, or any part part(s) thereof for its continued operation thereof, in a manner consistent with the standard set forth in Section 7.2.4, for the Primary Intended Use.
(b) 9.1.2 Lessor shall not under any circumstances be required to (i) build or rebuild any improvements on the Leased Property or any Leased Property, or to Capital Additions; (ii) make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, ; or to (iii) maintain any the Leased Property or any Capital Additions in any way, except as expressly provided herein. Tenant Lessee hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted.
(c) Except as expressly set forth in this Lease, nothing 9.1.3 Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to the Leased Property, any Leased Property Capital Additions or any part part(s) thereof, ; or (ii) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, create any right, title, interest, lien, valid claim or other encumbrance upon the estate of Lessor in any the Leased Property, any Capital Additions or any portion thereofpart(s) thereof other than Permitted Encumbrances and inchoate mechanics liens resulting from work permitted to be done at the Leased Properties in accordance with this Lease, subject to the terms hereof with respect thereto.
(d) Tenant will9.1.4 Unless Lessor shall convey any of the Leased Property to Lessee pursuant to the provisions of this Lease, Lessee shall, upon the expiration or prior earlier termination of the Term, vacate and surrender the applicable Leased Property, Lessee’s Personal Property and Intangible Property (other than Lessee’s IP Intangibles) that Lessor elects to acquire, and all Capital Additions to Lessor in the condition in which such the Leased Property was originally received from LessorLessor and such Lessee’s Personal Property and Intangible Property (other than Lessee’s IP Intangibles) and any Capital Additions were originally introduced to each Facility, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term)tear.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Master Lease and Security Agreement (Emeritus Corp\wa\), Master Lease and Security Agreement (Hcp, Inc.)
Maintenance and Repair. (a) TenantLessee, at its expense, shall will keep each the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in reasonably good order and repair, reasonable wear and tear excepted repair (whether or not the need for such repairs occurs as a result of Tenant’s Lessee's use, any prior use, the elements or elements, the age of such the Leased Property, Tenant’s Personal Property, Property or any portion thereof), and, and except as otherwise provided in ARTICLE XIVArticles 13 and 14, shall promptly with reasonable promptness will make all necessary and appropriate repairs and replacements thereto, thereto of every kind and naturenature (including remodeling to the extent necessary to maintain the Leased Property in a condition substantially the same as exists on the date hereof), whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to or after the commencement of the Term of this Lease (concealed or otherwise). All repairs and remodeling shall, to the extent reasonably achievable, be made at least equivalent in good, workmanlike quality to the original work and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such workshall be accomplished by Lessee or a party selected by Lessee. Tenant Lessee will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its the Primary Intended Use. If Lessee fails to perform any of its obligations hereunder, or if Lessor reasonably determines that action is necessary and is not being taken, Lessor may, on giving 30 days' written notice to Lessee (other than in a case reasonably deemed by Lessor to be an emergency, in which case no such notice shall be required), without demand on Lessee, perform any such obligations in such manner and to such extent and take such other action as Lessor may deem appropriate in the event that Lessee has not timely commenced to perform such obligation or take such action, and all costs, expenses and charges of Lessor relating to any such action shall constitute Additional Charges and shall be payable by Lessee to Lessor in accordance with Section 2.3.
(b) Except for the use of any insurance proceeds (to the extent required by Sections 13.1 and 13.2) and any Award (to the extent required by Section 14.3) Lessor shall not under any circumstances be required to build or rebuild any improvements on any the Leased Property, or to make any repairs, replacements, alterations, restorations restorations, or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structuralnonstructural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, thereto in connection with this Lease, or to maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any particular labor or services or the furnishing of any particular materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant Unless Lessor shall convey any of the Leased Property to Lessee pursuant to the provisions of this Lease, Lessee will, upon the expiration or prior termination of the Termthis Lease, vacate and surrender the applicable Leased Property to Lessor in the condition in which such the Leased Property was originally received from Lessor, except for ordinary wear and tear (subject to the obligation of Lessee to maintain the Property in good order and repair during the entire Term), damage caused by the gross negligence or willful acts of Lessor, and damage or destruction described in Article 13 or resulting from a Taking described in Article 14 which Lessee is not required by the terms of this Lease to repair or restore, and except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term)Lease.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Lease Agreement (Emeritus Corp\wa\), Lease Agreement (Emeritus Corp\wa\)
Maintenance and Repair. (a) TenantSubtenant shall, at its Subtenant’s sole expense, shall keep each Leased Property the Sublease Premises and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) every part thereof in good order and repaircondition, reasonable ordinary wear and tear excepted tear, condemnation and insured casualty excepted, except for any obligations of Sublandlord under the Master Lease that are specifically set forth and assumed by Sublandlord in this Sublease (whether or not including any obligations relating to the need for such repairs occurs as a result Sublease Premises prior to the Commencement Date herein) and any obligations of Tenant’s use, Master Landlord under the Master Lease. If (x) Sublandlord reasonably determines that any prior use, maintenance and/or repair of the elements or Sublease Premises is required under the age terms of such Leased Property, Tenant’s Personal Property, or any portion thereof)the Master Lease, and, except subject to such shorter time as otherwise provided in ARTICLE XIVmay be required under the Master Lease and any maintenance and repair rights of Master Landlord thereunder, shall promptly make all necessary such maintenance and/or repair item has not been completed by Subtenant within ten (10) business days after notice from Sublandlord that such item is required (or, if such maintenance or repair is not reasonably capable of being completed within such ten (10) business day-period, commenced within such time period and appropriate repairs and replacements theretothereafter diligently prosecuted to completion), of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising (y) any maintenance and/or repair to the Building is required by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking negligent act or omission or willful misconduct of which might materially impair the value Subtenant or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any Leased Propertyagents, employees, contractors, invitees, or licensees, and Sublandlord or Master Landlord performs the required maintenance or repair work, Subtenant shall pay to make Sublandlord or Master Landlord (as applicable) the reasonable cost of such maintenance and repairs. Subtenant hereby waives and releases any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at Sublandlord’s expense under any applicable law now or hereafter in effect, except to the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as extent expressly set forth in Section 17 of this Lease, nothing contained in this Lease Sublease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination Section 48 of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term)Master Lease.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Sublease (Cascadian Therapeutics, Inc.), Sublease (Cti Biopharma Corp)
Maintenance and Repair. (a) TenantSubject to Lessor's obligation to make Capital Expenditures under Sections 3.6 and 3.7 and performance of Lessor's obligations under Subsection 9.1(c), Lessee, at its sole expense, shall keep each the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted repair (whether or not the need for such repairs occurs occurred as a result of Tenant’s Lessee's use, any prior use, the elements or the age of such the Leased Property, Tenant’s Personal Property, or any portion thereof), and, except . Except as otherwise provided in ARTICLE XIVSection 9.1(b), shall promptly Article XIV or Article XV, and subject to Lessor's obligation under Sections 3.6 and 3.7 to make Capital Expenditures, Lessee shall, with reasonable promptness, make all necessary and appropriate repairs repairs, replacements, and replacements thereto, improvements to the Leased Property of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen unforeseen, or arising by reason of a condition existing prior to the commencement of the Term of this Lease (concealed or otherwise), or required by any governmental agency having jurisdiction over the Leased Property. Lessee, however, shall be permitted upon prior written notice to Lessor to prosecute claims against Lessor's predecessors in title for breach of any representation or warranty or for any latent defects in the Leased Property to be maintained by Lessee unless Lessor is already diligently pursuing or elects to diligently pursue such a claim. All repairs shall, to the extent reasonably achievable, be made at least equivalent in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating quality to such the original work. Tenant Lessee will not take or omit to take any action action, the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant willLessee shall, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such the Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this the Lease and except for ordinary wear and tear (subject to the obligation of Tenant Lessee to maintain the Leased Property in good order and repair during the entire Termrepair, as provided in Subsection 9.1(a), damage by casualty or Condemnation, and Lessor's obligations under Sections 3.6 and 3.7 with respect to Capital Expenditures.
(ec) Tenant Lessor shall establish be responsible for and maintain any reserve accounts reasonably pay for items of a capital nature as defined in Exhibit F and to make Capital Expenditures, all as and to the extent required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.provided in Section 3.6 and 3.7
Appears in 2 contracts
Samples: Percentage Lease Agreement (Red Lion Inns Limited Partnership), Percentage Lease Agreement (Boykin Lodging Co)
Maintenance and Repair. (a) TenantTenant shall at all times maintain the Leased Premises and the Adjoining Property in substantially as good repair and appearance as they are in on the date hereof, at its expense, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable ordinary wear and tear excepted (whether or not excepted, and fit to be used for their intended use in accordance with the need for such repairs occurs practices generally recognized as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof)then acceptable by other companies in its industry, and, in the case of the Equipment, in as good mechanical condition as it was on the later of the date hereof or the date of its installation, except as otherwise provided in ARTICLE XIV, for ordinary wear and tear. Tenant shall take every other reasonable action necessary or appropriate for the preservation and safety of the Leased Premises. Tenant shall promptly make all necessary and appropriate repairs and replacements thereto, Alterations of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shallunforeseen, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances may be required to build or rebuild any improvements on any Leased Property, or comply with the foregoing requirements of this Paragraph 12(a). Landlord shall not be required to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased PropertyAlteration, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any of the Leased Premises or Adjoining Property in any way, except as expressly provided herein. and Tenant hereby waives, to the extent permitted by law, the expressly waives any right which may be provided for in any Law now or hereafter in effect to make repairs Alterations at the expense of Lessor Landlord or to require Landlord to make Alterations. Any Alteration made by Tenant pursuant to any law this Paragraph 12 shall be made in effect at conformity with the time provisions of the execution of this Lease or thereafter enactedParagraph 13.
(cb) Except as expressly set forth in this LeaseIf any Improvement, nothing contained in this Lease and no action now or inaction by Lessor hereafter constructed, shall be construed as (i) constituting encroach upon any setback or any property, street or right-of-way adjoining the consent Leased Premises, (ii) violate the provisions of any restrictive covenant affecting the Leased Premises, (iii) hinder or request obstruct any easement or right-of-way to which any of Lessor, express the Leased Premises is subject or implied(iv) impair the rights of others in, to or under any contractorof the foregoing, subcontractorTenant shall, laborerpromptly after receiving a notice thereof, materialman correct such condition from the party entitled to make such demand, either (A) obtain from all necessary parties waivers or vendor to settlements of all claims, liabilities and damages resulting from each such encroachment, violation, hindrance, obstruction or for impairment, whether the performance of any labor same shall affect Landlord, Tenant or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereofboth, or (iiB) giving Tenant any righttake such action as shall be necessary to remove all such encroachments, power hindrances or permission obstructions and to contract for end all such violations or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the impairments, including, if necessary, making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofAlterations.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Lease Agreement (Etec Systems Inc), Lease Agreement (Corporate Property Associates 14 Inc)
Maintenance and Repair. (a) Except as provided in Section 9.1(b) or Article XIV, Tenant, at its sole expense, shall will keep each the Leased Property and all private roadways, sidewalks means of access thereto in first-class condition and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable repair except for ordinary wear and tear excepted (whether or not the need for such repairs occurs occurred as a result of Tenant’s 's use, any prior use, the elements or the age of such the Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, shall promptly make all necessary and appropriate repairs repairs, replacements, and replacements thereto, improvements thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term of this Lease (concealed or otherwise), or required by any Government agency having jurisdiction over the Leased Property. Tenant, however, shall be permitted to prosecute claims against Landlord's predecessors in title for breach of any representation or warranty or for any latent defects in the Leased Property to be maintained by Tenant unless Landlord is already diligently pursuing such a claim. All repairs shall, to the extent reasonably achievable, be made at least equivalent in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating quality to such the original work. Tenant will not take or omit to take any action action, the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use. If Tenant fails to make any required repairs or replacements after fifteen (15) days notice from Landlord (or after such longer period as may be reasonably required provided that Tenant at all time diligently proceeds with such repair or replacement), then Landlord shall have the right, but shall not be obligated, to make such repairs or replacements on behalf of and for the account of Tenant. In such event, such work shall be paid for in full by Tenant as Additional Charges, together with a late charge thereon at the Overdue Rate from the date on which such sums or expenses are paid or incurred by Landlord.
(b) Lessor Notwithstanding Tenant's obligations under Section 9.1(a) above or elsewhere in this Lease, unless caused by Tenant's negligence or willful misconduct or that of its employees or agents, Tenant shall not be responsible for any Capital Improvements, including (without limitation) Capital Improvements required by the Franchisor under the Franchise Agreement. Landlord shall be responsible for all Capital Improvements, subject to (i) Landlord's right to approve the Capital Budget pursuant to Section 24.5 and Article XL, (ii) Landlord's obligation to make available to Tenant amounts for Capital Expenditures as set forth in Section 24.6, and (iii) Landlord's right in its sole discretion to refuse to make any Capital Expenditure required by the Franchisor; [provided that, if such refusal results in a default under or termination of the Franchise Agreement, Landlord shall be responsible for all damages and termination payments payable by Tenant under the terms of the Franchise Agreement, application fees for a new franchise license approved by Landlord, increased royalty fees and other costs arising out of such refusal or out of the resulting need to apply for and enter into a substitute franchise license agreement]. Except as set forth in the preceding sentence, Landlord shall not under any circumstances be required to build or rebuild any improvements improvement on any the Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor Landlord pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted. Landlord shall have the right to give, record and post, as appropriate, notices of nonresponsibility under any mechanic's lien laws now or hereafter existing.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Lease and no action or inaction by Lessor Landlord shall be construed as (i1) constituting the consent or request of LessorLandlord, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, or (ii2) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor Landlord in respect thereof or to make any agreement that may create, or in any way be the basis for, for any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor Landlord in any the Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor Landlord in the condition in which such the Leased Property was originally received from LessorLandlord, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair repair, as would a prudent owner, during the entire TermTerm of the Lease, to the extent required in Section 9.1(a)), or damage by casualty or Condemnation (subject to the obligations of Tenant to restore or repair as set forth in the Lease.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.)
Appears in 2 contracts
Samples: Lease Agreement (Hudson Hotels Trust), Lease Agreement (Hudson Hotels Trust)
Maintenance and Repair. (a) TenantLessee, at its expense, shall will keep each the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Lessee's Personal Property) in good first class order and repair, reasonable wear and tear excepted repair (whether or not the need for such repairs occurs as a result of Tenant’s Lessee's use, any prior use, the elements or elements, the age of such the Leased Property, Tenant’s Personal Property, Property or any portion thereof), ) and, except as otherwise provided in ARTICLE XIVArticles XIV and XV, shall promptly with reasonable promptness, will make all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term of this Lease (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made at least equivalent in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating quality to such the original work. Tenant Lessee will not take or omit to take any action the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property or any part thereof for its the Primary Intended Use. Lessee shall notify the Lessor of any and all repairs or improvements made to the Leased Property in excess of Twenty-Five Thousand and 00/100 Dollars ($25,000.00).
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any the Leased Property, or to make any repairs, replacements, alterations, restorations restorations, or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, thereto in connection with this Lease, or to maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, or (ii) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any the Leased Property, Property or any portion thereof.
(d) Tenant Unless Lessor shall convey any of the Leased Property to Lessee pursuant to the provisions of this Lease, Lessee will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such the Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant Lessee to maintain the Leased Property in good order and repair during the entire TermTerm of the Lease), damage caused by the gross negligence or willful acts of Lessor and damage or destruction described in Article XIV or resulting from a Taking described in Article XV which Lessee is not required by the terms of this Lease to repair or restore.
(e) Tenant Commencing on July 1, 2005, Lessee shall establish make quarterly deposits to a Capital Improvement Reserve (the "Capital Improvement Reserve") at a financial institution of the Lessor's choosing, provided, however, that the first such deposit on July 1, 2005, shall be pro rated based upon one half of a year. Subject to the immediately preceding sentence, each deposit to be made quarterly thereafter through and maintain including December 31, 2005, shall be equal to the sum of One Thousand Five Hundred and 00/100 Dollars ($1,500.00) per bed per annum (the number of beds to be determined by the actual number of beds certified to be available for use in the Hospital). The account to which such payments are made shall require the signature of an officer of Lessee and Lessor to make withdrawals. On each January 1 thereafter during the entire Lease Term, such payment into the Capital Improvement Reserve shall be increased by 2.50% per annum. Notwithstanding anything contained herein to the contrary, Lessee shall pay into the Capital Improvement Reserve any reserve accounts reasonably amounts needed in excess of such required payments as provided herein. The amount in the Capital Improvement Reserve, including interest, may be used by Lessee with Lessor's approval, which such approval will not be unreasonably withheld, or by Lessor with Lessee's approval, which such approval will not be unreasonably withheld, to pay for the repair and replacement of capital items on the Facility. Lessee hereby grants to Lessor a Superior Mortgagee security interest in all monies deposited into the Capital Improvement Reserve and Lessee shall, within fifteen (15) days from the Commencement Date, execute all documents necessary for deferred maintenance conditions Lessor to perfect its security interest in the Capital Improvement Reserve. Lessor and for Lessee agree that the first dollars of all capital expenditures made in each year during the Term shall be funded from the Capital Improvement Reserve account to the full extent of such account; provided, however, that if Lessor, in its reasonable discretion, determines at any time that the Leased Propertybalance then remaining in the Capital Improvement Reserve account is insufficient to pay in full for the present and future anticipated repair and replacement of capital items on the Facility, Lessor shall retain funds in the Capital Improvement Reserve account in an amount sufficient to pay in full for such repair and replacement and Lessee will deposit additional sums into the account from time to time, upon the written request of Lessor, in amounts equal to the difference between the then balance in the Capital Improvement Reserve account and the cost to complete the present and future such repair and replacement so that at all times there is an adequate amount in the Capital Improvement Reserve account to pay for such repair and replacement on a going forward basis.
Appears in 2 contracts
Samples: Lease Agreement (Medical Properties Trust Inc), Lease Agreement (Medical Properties Trust Inc)
Maintenance and Repair. (a) TenantLessee, at its expense, shall will keep each the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Lessee's Personal Property) in good first class order and repair, reasonable wear and tear excepted repair (whether or not the need for such repairs occurs as a result of Tenant’s Lessee's use, any prior use, the elements or elements, the age of such the Leased Property, Tenant’s Personal Property, Property or any portion thereof), ) and, except as otherwise provided in ARTICLE XIVArticles XIV and XV, shall promptly with reasonable promptness, will make all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term of this Lease (concealed or otherwise), including, without limitation, all required seismic repairs, replacements and upgrades. All repairs shall, to the extent reasonably achievable, be made at least equivalent in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating quality to such the original work. Tenant Lessee will not take or omit to take any action the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property or any part thereof for its the Primary Intended Use. Notwithstanding anything contained herein to the contrary, Lessee shall make additions, modifications and remodeling to the Leased Property which are not Capital Additions from time to time which are necessary for the Primary Intended Use and which permit the Lessee to comply fully with its obligations set forth in this Lease, provided that any such action will be undertaken expeditiously, in a workmanlike manner and will not significantly alter the character or purpose or detract from the value or operating efficiency of the Leased Property and will not significantly impair the revenue producing capability of the Leased Property or adversely affect the ability of the Lessee to comply with the provisions of this Lease. Such additions, modifications and remodeling shall, without payment by Lessor at any time, be included under the terms of this Lease and shall be the property of Lessor. Lessee shall notify the Lessor of any and all repairs, improvements, additions, modifications and remodeling made to the Leased Property in excess of Twenty-Five Thousand and 00/100 Dollars ($25,000.00) and obtain consent from Lessor prior to making such repairs, improvements, additions, modifications and remodeling.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any the Leased Property, or to make any repairs, replacements, alterations, restorations restorations, or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, thereto in connection with this Lease, or to maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, or (ii) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any the Leased Property, Property or any portion thereof.
(d) Tenant Unless Lessor shall convey any of the Leased Property to Lessee pursuant to the provisions of this Lease, Lessee will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such the Leased Property was originally received from Lessor, except as improved, repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant Lessee to maintain the Leased Property in good order and repair during the entire TermTerm of the Lease).
(e) Tenant shall establish , damage caused by the gross negligence or willful acts of Lessor and maintain any reserve accounts reasonably damage or destruction described in Article XIV or resulting from a Taking described in Article XV which Lessee is not required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Propertyterms of this Lease to repair or restore.
Appears in 2 contracts
Samples: Lease Agreement (Medical Properties Trust Inc), Lease Agreement (Medical Properties Trust Inc)
Maintenance and Repair. (a) TenantAt all times during the Term, subject to the provisions of Article XII, Tenant shall (subject, with respect to any Tenant Option Property, to the further provisions of this Article X following a Partial Property Termination Date), at its Tenant’s sole cost and expense, shall keep (i) maintain (without the prior written consent of Landlord) each Leased Demised Premises, all Tenant’s Property with respect thereto, and all private roadwaysCommon Areas that (A) are appurtenant to such Demised Premises, sidewalks and curbs appurtenant thereto and which (B) are under in Tenant’s exclusive control or (and Tenant’s Personal PropertyC) Tenant is required to maintain pursuant to any applicable Property Documents (collectively, “Tenant Common Areas”), in each case in good order order, condition and repair, reasonable repair (ordinary wear and tear excepted (whether or not excepted) with the need for such repairs occurs as a result standard of Tenant’s use, any prior use, the elements or care and quality taking into account the age of such Leased PropertyDemised Premises, Tenant’s Personal Propertyand otherwise in compliance with all applicable Property Requirements and the Permitted Use, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall and (ii) promptly make all customary (consistent with past practice) or necessary and appropriate capital repairs and replacements thereto, thereof and thereto of every kind and nature, including without limitation all Required Work, whether interior or exterior, structural or non-structuralnonstructural, ordinary or extraordinary, foreseen or unforeseen unforeseen, or arising by reason of a condition existing prior to the commencement Tenant’s use of the Term Demised Premises or such Tenant Common Areas, any prior use thereof or otherwise (concealed but excluding any such repairs, replacements or otherwise). All repairs shall, other Work to the extent reasonably achievablethe same are required as a result of Landlord’s gross negligence or willful misconduct, any affirmative acts in connection with work performed by Landlord or any of Landlord’s Related Users to any Tenant Option Property after a Partial TO Termination, or the negligence of any of Landlord’s Related Users in or about any Tenant Option Property after a Partial TO Termination), in each case, subject to ordinary wear and tear and taking into account the age of the applicable Demised Premises. Notwithstanding the foregoing, from and after the Partial Property Termination Date with respect to any Tenant Option Property, (A) Landlord shall (and Tenant shall no longer be made obligated to) make and conduct all reasonable or customary maintenance, repairs and replacements of the load-bearing walls, roofs and other structural components (except any Alterations installed by Tenant that are located wholly within the Tenant Retained Portion) of such Tenant Option Property and (B) Tenant shall reimburse Landlord, as Additional Rent and, at Landlord’s option, as part of Installment Expenses, for Tenant’s Proportionate Share of the cost of all such maintenance, repairs and replacements; provided, however, that to the extent that any such maintenance, repairs or replacements disproportionately benefits either Portion of such Tenant Option Property, the Parties shall cooperate in goodgood faith to adjust Tenant’s Proportionate Share of such costs solely with respect thereto in order to equitably reflect the proportional benefit received by each of the applicable Landlord Retained Portion and the applicable Tenant Retained Portion as a result of the applicable Work. In the event that the Parties cannot agree on the appropriate adjustment, workmanlike and first-class manner, either Party shall have the right to submit the same to expedited arbitration in accordance with all applicable federalthe provisions of Section 27.1. Notwithstanding anything to the contrary herein and for the avoidance of doubt, state and local statutes, ordinances, by-laws, codes, rules and regulations relating in no event shall Tenant be in default of its obligations under this Section 10.1(a) solely as a result of its failure to perform any Required Work if Landlord’s consent is required with respect to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended UseWork and Landlord unreasonably withholds such consent.
(b) Lessor Except as otherwise expressly required elsewhere in this Lease to the contrary, Landlord shall not under any circumstances be required to (i) build or rebuild any improvements on with respect to any Leased PropertyDemised Premises, (ii) maintain or to make any repairs, replacementsAlterations, alterations, replacements or restorations or renewals of any nature of or description to the applicable Leased PropertyDemised Premises, whether ordinary or extraordinary, structural or non-structuralnonstructural, foreseen or unforeseen, or (iii) to incur any costs or expenses in connection therewith. Except as otherwise expressly required elsewhere in this Lease, Tenant hereby unconditionally waives any rights Tenant may have pursuant to any applicable Legal Requirements in effect on the Commencement Date or hereafter enacted to make any expenditure whatsoever with respect theretorepairs, in connection with this LeaseAlterations, replacements or restorations, or to maintain perform any Leased Property in any waymaintenance, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enactedLandlord.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Retail Master Lease (Copper Property CTL Pass Through Trust), Retail Master Lease (J C Penney Co Inc)
Maintenance and Repair. (a) Tenant9.1.1 Lessee, at its sole expense, shall will, during the Term, keep each the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s Lessee's control (and Tenant’s Lessee's Personal Property) in good order and repair, reasonable wear and tear excepted repair (whether or not the need for such repairs occurs as a result of Tenant’s Lessee's use, any prior use, the elements or the age of such the Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall promptly with reasonable promptness, make all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to or during the commencement Term, provided, however, that Lessee shall be permitted to prosecute claims against Lessee's predecessors (but not Lessor except as herein provided) in title for (i) breach of any representation or warranty, or (ii) any latent defects in the Term (concealed or otherwise)Leased Property. All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant Lessee will not take or omit to take any action the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) 9.1.2 Lessor shall not under any circumstances be required to build or rebuild any improvements on any the Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or foreseen/unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any the Leased Property in any way, except as expressly provided herein. Tenant Lessee hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted. Lessor shall have the right to give, record and post, as appropriate, notices of non-responsibility (or similar notices) under any mechanics' lien laws now or hereafter existing.
(c) Except as expressly set forth 9.1.3 Lessee shall not make any modifications, alterations or improvements to the Leased Improvements or any portion thereof, whether by addition or deletion, without Lessor's prior written consent, which consent may be given or withheld in Lessor's reasonable discretion; provided, however, that Lessor's consent shall not be required in connection with any non-structural modifications, alterations or improvements that do not constitute capital improvements and that are otherwise made in compliance with this Lease, nothing so long as the total cost thereof, with respect to any single Facility, does not exceed $50,000 and the total cost with respect to any single Facility in any twelve (12) month period does not exceed $100,000. Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, or (ii) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, for any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any the Leased Property, or any portion thereof.
(d) Tenant 9.1.4 Lessee will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such the Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease Lease, and except for ordinary wear and tear (subject to the obligation of Tenant Lessee to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Master Lease Agreement (Brookdale Senior Living Inc.), Master Lease Agreement (Brookdale Senior Living Inc.)
Maintenance and Repair. (a) Tenant, at its expensesole cost and expense and without the prior consent of Landlord, shall keep each Leased Property maintain the Project, and every portion thereof, and all private roadways, sidewalks and curbs appurtenant thereto to the Project, and which are under Tenant’s control in accordance with (or better than) the following standards: (i) at any time prior to the twelfth (12th) anniversary of the Effective Date, in a manner and Tenant’s Personal Propertycondition commensurate with a first-class casino, hotel and convention space (reasonable wear and tear, permitted alterations and casualty damages excepted); and (ii) from and after the twelfth (12th) anniversary of the Effective Date, (x) if Tenant continues to operate the Facility for its Primary Intended Use, in good order and repair, repair (reasonable wear and tear excepted tear, permitted alterations and casualty damages excepted), or (y) if Tenant ceases to operate the Facility for its Primary Intended Use, in a safe condition and free of all hazards, in each case whether or not the need for such maintenance or repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Propertythe Project, Tenant’s Personal Property, and will commit or any portion thereof)allow no physical waste with respect thereto, and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, shall promptly make all reasonably necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, including those necessary to ensure continuing compliance with all Legal Requirements in all material respects, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)Effective Date. All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant will not take or omit to take any action the taking or omission of which might would reasonably be expected to materially impair the value or the usefulness of the applicable Leased Property or any part thereof or any Capital Improvement thereto for its Primary Intended Use. Tenant’s maintenance, repair and replacement obligations shall extend to and include, without limitation, all building systems and fixtures serving the Project and, subject to any permitted encumbrances, any parking areas and landscaping on the Leased Property. Tenant’s obligations under this Article IX shall, without limitation, include the maintenance, repair and replacement (a) at all times, of any and all building systems, machinery and equipment which exclusively serve the Leased Property, and (b) the bearing walls, floors, foundations, roofs and all structural elements of the Leased Property. Tenant will not take or omit to take any action the taking or omission of which would reasonably be expected to (i) create (or permit to continue) any dangerous condition, or (ii) to involve any loss, damage or injury to any person or property.
(b) Lessor Landlord shall not under any circumstances be required to (i) build or rebuild any improvements on any the Leased Property, or to ; (ii) make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased PropertyProject, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, ; or to (iii) maintain any Leased Property the Project in any way, except as expressly provided herein. Tenant hereby expressly and unconditionally waives, to the fullest extent now or hereafter permitted by law, the right to make repairs or perform any maintenance at the expense of Lessor pursuant to Landlord which right may be provided for in any law in effect at the time of the execution and delivery of this Lease or thereafter which may hereafter be enacted. Tenant hereby assumes the full and sole responsibility for the condition, operation, repair, replacement, maintenance and management of the Project. However, on default of Tenant beyond the expiration of any applicable notice and cure periods in making such repairs or replacements, Landlord may, but shall not be required to, make such repairs and replacements for Tenant’s account and the expense thereof shall constitute Rent and shall be paid by Tenant to Landlord upon demand with interest at the Overdue Rate.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Lease and no action or inaction by Lessor Landlord shall be construed as (i) constituting the consent or request of LessorLandlord, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, thereof or any Capital Improvement thereto; or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor Landlord in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor Landlord in any the Leased Property, or any portion thereofthereof or upon the estate of Landlord in any Capital Improvement thereto.
(d) Subject to Article XXXVI, Tenant willshall, upon the expiration or prior earlier termination of the Term, vacate and surrender and relinquish in favor of Landlord all rights to the applicable Leased Property (including all Capital Improvements, subject to Lessor the provisions of Article X) to Landlord in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease (including Section 14.2 and 15.1) and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term)tear.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Ground Lease (Bally's Chicago, Inc.), Ground Lease (Bally's Chicago, Inc.)
Maintenance and Repair. (a) TenantTenant shall at all times maintain the Leased Premises and the Adjoining Property in as good repair and appearance as they are in on the date hereof and fit to be used for their intended use in accordance with the practices observed by owners or operators of other comparable first class office buildings in the Central New Jersey area, at its expense, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable ordinary wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof)excepted, and, in the case of the Equipment, in as good mechanical condition as it was on the later of the date hereof or the date of its installation, except as otherwise provided in ARTICLE XIV, for ordinary wear and tear. Tenant shall take every other action reasonably necessary or appropriate for the preservation and safety of the Leased Premises. Tenant shall promptly make all necessary and appropriate repairs and replacements thereto, Alterations of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shallunforeseen, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances may be required to build or rebuild any improvements on any Leased Property, or comply with the foregoing requirements of this Paragraph 12(a). Landlord shall not be required to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased PropertyAlteration, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any of the Leased Premises or Adjoining Property in any way, except as expressly provided herein. and Tenant hereby waives, to the extent permitted by law, the expressly waives any right which may be provided for in any Law now or hereafter in effect to make repairs Alterations at the expense of Lessor Landlord or to require Landlord to make Alterations. Any Alteration made by Tenant pursuant to any law this Paragraph 12 shall be made in effect at conformity with the time provisions of the execution of this Lease or thereafter enactedParagraph 13.
(cb) Except as expressly set forth in this LeaseIf any Improvement, nothing contained in this Lease and no action now or inaction by Lessor hereafter constructed, shall be construed as (i) constituting encroach upon any setback or any property, street or right-of-way adjoining the consent Leased Premises, (ii) violate the provisions of any restrictive covenant affecting the Leased Premises, (iii) hinder or request obstruct any easement or right-of-way to which any of Lessor, express the Leased Premises is subject or implied(iv) impair the rights of others in, to or under any contractorof the foregoing, subcontractorTenant shall, laborerpromptly after receiving notice or otherwise acquiring knowledge thereof, materialman either (A) obtain from all necessary parties waivers or vendor to settlements of all claims, liabilities and damages resulting from each such encroachment, violation, hindrance, obstruction or for impairment, whether the performance of any labor same shall affect Landlord, Tenant or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereofboth, or (iiB) giving Tenant any righttake such action as shall be necessary to remove all such encroachments, power hindrances or permission obstructions and to contract for end all such violations or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the impairments, including, if necessary, making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofAlterations.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Lease Agreement (Foster Wheeler LTD), Lease Agreement (Corporate Property Associates 15 Inc)
Maintenance and Repair. (a) Tenant9.1.1 Lessee shall, at its expenseno expense to Lessor, shall keep each maintain the Leased Property, and every portion thereof, Lessee’s Personal Property and all Capital Additions, and all private roadways, sidewalks and curbs appurtenant thereto to the Leased Property, and which are under TenantLessee’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted repair (to the extent necessary to maintain continued operation of the same in a manner consistent with the standard set forth in Section 7.2.4) whether or not the need for such repairs occurs as a result of TenantLessee’s use, any prior use, the elements or the age of such the Leased Property, TenantLessee’s Personal Property, or any portion thereof)Property and all Capital Additions, and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, Lessee shall promptly make or cause to be made all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, including those necessary to comply with changes in any material Legal Requirements, subject to Article XII regarding permitted contests, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)Commencement Date. All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant Lessee will not take or omit to take any action the taking or omission of which might could reasonably be expected to materially impair the value or the usefulness of the applicable Leased Property Property, any Capital Additions, or any part part(s) thereof for its continued operation thereof, in a manner consistent with the standard set forth in Section 7.2.4, for the Primary Intended Use.
(b) 9.1.2 Lessor shall not under any circumstances be required to (i) build or rebuild any improvements on the Leased Property or any Leased Property, or to Capital Additions; (ii) make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, ; or to (iii) maintain any the Leased Property or any Capital Additions in any way, except as expressly provided herein. Tenant Lessee hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted.
(c) Except as expressly set forth in this Lease, nothing 9.1.3 Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to the Leased Property, any Leased Property Capital Additions or any part part(s) thereof, ; or (ii) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, create any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any the Leased Property, any Capital Additions or any portion thereofpart(s) thereof other than Permitted Encumbrances and inchoate mechanics liens resulting from work permitted to be done at the Leased Properties in accordance with this Lease, subject to the terms hereof with respect thereto.
(d) Tenant will9.1.4 Unless Lessor shall convey any of the Leased Property to Lessee pursuant to the provisions of this Lease, Lessee shall, upon the expiration or prior earlier termination of the Term, vacate and surrender the applicable Leased Property Property, Lessee’s Personal Property, and all Capital Additions to Lessor in the condition in which such the Leased Property was originally received from LessorLessor and Lessee’s Personal Property and any Capital Additions were originally introduced to each Facility, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term)tear.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Master Lease and Security Agreement (Hcp, Inc.), Master Lease and Security Agreement (Hcp, Inc.)
Maintenance and Repair. (a) TenantTenant shall with reasonable promptness throughout the term of this Lease, at its Tenant's cost and expense, shall keep each take good care of and maintain the Leased Property Premises and all private roadways, sidewalks and curbs curbs, if any, on, adjacent and appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) thereto, in good order and repair, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall promptly remove all accumulated snow, ice and debris from any and all roadways, sidewalks and curbs located upon or appurtenant to the Leased Premises and from any and all other sidewalks and curbs adjacent to the Leased Premises.
(b) Tenant shall not commit or suffer to be committed any waste upon or about the Leased Premises, and shall promptly at its cost and expense, make all necessary replacements, restorations, renewals and appropriate repairs to the Leased Premises and replacements appurtenances thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, and foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs unforeseen, which repairs, restorations, renewals and replacements shall, to the extent reasonably achievablepossible, be made at least equivalent in goodquality to the original work or the property replaced, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such workas the case may be. Tenant will shall not take make any claim or omit to take demand upon or bring any action against the taking Landlord for any loss, cost, injury, damage or omission of which might materially impair the value other expense caused by any failure or usefulness defect, structural or non-structural, of the applicable Leased Property Premises or any part thereof for its Primary Intended Usethereof.
(bc) Lessor Landlord shall not under any circumstances be required to build or rebuild any improvements on any the Leased PropertyPremises, or to make any repairs, replacements, alterations, restorations alterations or renewals of any nature or description to the applicable Leased PropertyPremises or to any of the Improvements, whether interior or exterior, ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, Lease or to inspect or maintain any the Leased Property Premises in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, waives the right to make repairs repairs, replacements, renewals or restorations at the expense of Lessor Landlord pursuant to any law in effect at the time of the execution of this Lease or thereafter enactedLaws.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Lease Agreement (Lounsberry Holdings Ii Inc), Lease Agreement (Techprecision Corp)
Maintenance and Repair. (a) Tenant9.1.1 Lessee, at its sole expense, shall will, during the Term, keep each the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s Lessee's control (and Tenant’s Lessee's Personal Property) in good order and repair, reasonable wear and tear excepted repair (whether or not the need for such repairs occurs as a result of Tenant’s Lessee's use, any prior use, the elements or the age of such the Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall promptly with reasonable promptness, make all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to or during the commencement Term, provided, however, that Lessee shall be permitted to prosecute claims against Lessee's predecessors (but not Lessor except as herein provided) in title for (i) breach of any representation or warranty, or (ii) any latent defects in the Term (concealed or otherwise)Leased Property. All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant Lessee will not take or omit to take any action the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) 9.1.2 Lessor shall not under any circumstances be required to build or rebuild any improvements on any the Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or foreseen/unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any the Leased Property in any way, except as expressly provided herein. Tenant Lessee hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted. Lessor shall have the right to give, record and post, as appropriate, notices of non-responsibility (or similar notices) under any mechanics' lien laws now or hereafter existing.
(c) Except as expressly set forth 9.1.3 Lessee shall not make any modifications, alterations or improvements to the Leased Improvements or any portion thereof, whether by addition or deletion, without Lessor's prior written consent, which consent may be given or withheld in Lessor's reasonable discretion; provided, however, that Lessor's consent shall not be required in connection with any non-structural modifications, alterations or improvements that do not constitute capital improvements and that are otherwise made in compliance with this Lease, nothing so long as the total cost thereof, with respect to any single Facility, does not exceed $50,000 and the total cost with respect to any single Facility in any twelve (12) month period does not exceed $100,000. Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, or (ii) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, for any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any the Leased Property, or any portion thereof.
(d) Tenant 9.1.4 Lessee will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such the Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease Lease, and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.tear
Appears in 2 contracts
Samples: Lease Agreement (Brookdale Senior Living Inc.), Lease Agreement (Brookdale Senior Living Inc.)
Maintenance and Repair. On and after the Base Term Commencement Date, Lessee, at its own expense, shall at all times and in all material respects (a) Tenant, at its expense, shall keep each maintain the Leased Property in good operating condition, subject to ordinary wear and tear, and in at least as good as the condition of similar property owned or leased by Lessee or its Affiliates and in good repair and condition; (b) maintain the Leased Property in accordance with Prudent Industry Practice and, in any event, in accordance with all private roadwaysApplicable Laws and Industry Standards affecting the Leased Property; (c) maintain the Leased Property in compliance with the Insurance Requirements and, sidewalks and curbs appurtenant thereto and to the extent necessary to preserve the validity of the manufacturer warranties, all manufacturer's suggested maintenance standards which are under Tenant’s control (in effect and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (whether or not to the need for such repairs occurs as a result of Tenant’s use, extent applicable at any prior use, time with respect to the elements or the age of such Leased Property, Tenant’s Personal Property, Property or any portion part thereof), and, except as otherwise provided in ARTICLE XIV, shall promptly ; (d) make all necessary or appropriate repairs, replacements, restorations and appropriate repairs and replacements thereto, renewals of every kind and nature, whether interior the Leased Property or exteriorany part thereof which may be required to keep the Leased Property in the condition required by the preceding clauses (a) through (c), structural or non-structuralnonstructural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shallunforeseen, to the extent reasonably achievableand including, be made in goodwithout limitation, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterationsrestorations and renewals; and (e) procure, restorations or renewals maintain and comply with all material licenses, permits, orders, approvals, consents and other authorizations required for the maintenance, use and operation, in the ordinary course of any nature or description to the applicable Lessee's business, of the Leased Property. Lessee waives any right that it may now have or hereafter acquire to (x) require Lessor to maintain, whether ordinary repair, replace, restore, alter, remove or extraordinary, structural rebuild all or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any part of the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to or (y) make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials Applicable Laws or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofagreements.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Lease (Kansas City Power & Light Co), Lease (Kansas City Power & Light Co)
Maintenance and Repair. (a) TenantLessee, at its expense, shall will keep each the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Lessee's Personal Property) in good first class order and repair, reasonable wear and tear excepted repair (whether or not the need for such repairs occurs as a result of Tenant’s Lessee's use, any prior use, the elements or elements, the age of such the Leased Property, Tenant’s Personal Property, Property or any portion thereof), ) and, except as otherwise provided in ARTICLE XIVArticles XIV and XV, shall promptly with reasonable promptness, will make all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term of this Lease (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made at least equivalent in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating quality to such the original work. Tenant Lessee will not take or omit to take any action the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property or any part thereof for its the Primary Intended Use. Lessee shall notify the Lessor of any and all repairs or improvements made to the Leased Property in excess of Twenty-Five Thousand and 00/100 Dollars ($25,000.00).
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any the Leased Property, or to make any repairs, replacements, alterations, restorations restorations, or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, thereto in connection with this Lease, or to maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, or (ii) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any the Leased Property, Property or any portion thereof.
(d) Tenant Unless Lessor shall convey any of the Leased Property to Lessee pursuant to the provisions of this Lease, Lessee will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such the Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant Lessee to maintain the Leased Property in good order and repair during the entire TermTerm of the Lease), damage caused by the gross negligence or willful acts of Lessor and damage or destruction described in Article XIV or resulting from a Taking described in Article XV which Lessee is not required by the terms of this Lease to repair or restore.
(e) Tenant Commencing on July 1, 2005, Lessee shall establish make quarterly deposits to a Capital Improvement Reserve (the "Capital Improvement Reserve") at a financial institution of the Lessor's choosing, provided, however, that the first such deposit on July 1, 2005 shall be prorated based upon one half of a year. Subject to the immediately preceding sentence, each deposit to be made quarterly thereafter through and maintain including December 31, 2005, shall be equal to the sum of One Thousand Five Hundred and 00/100 Dollars ($1,500.00) per bed per annum (the number of beds to be determined by the actual number of beds certified to be available for use in the Hospital). The account to which such payments are made shall require the signature of an officer of Lessee and Lessor to make withdrawals. On each January 1 thereafter during the entire Lease Term, such payment into the Capital Improvement Reserve shall be increased by 2.50% per annum. Notwithstanding anything contained herein to the contrary, Lessee shall pay into the Capital Improvement Reserve any reserve accounts reasonably amounts needed in excess of such required payments as provided herein. The amount in the Capital Improvement Reserve, including interest, may be used by Lessee with Lessor's approval, which such approval will not be unreasonably withheld, or by Lessor with Lessee's approval, which such approval will not be unreasonably withheld, to pay for the repair and replacement of capital items on the Facility. Lessee hereby grants to Lessor a Superior Mortgagee security interest in all monies deposited into the Capital Improvement Reserve and Lessee shall, within fifteen (15) days from the Commencement Date, execute all documents necessary for deferred maintenance conditions Lessor to perfect its security interest in the Capital Improvement Reserve. Lessor and for Lessee agree that the first dollars of all capital expenditures made in each year during the Term shall be funded from the Capital Improvement Reserve account to the full extent of such account; provided, however, that if Lessor, in its reasonable discretion, determines at any time that the Leased Propertybalance then remaining in the Capital Improvement Reserve account is insufficient to pay in full for the present and future anticipated repair and replacement of capital items on the Facility, Lessor shall retain funds in the Capital Improvement Reserve account in an amount sufficient to pay in full for such repair and replacement and Lessee will deposit additional sums into the account from time to time, upon the written request of Lessor, in amounts equal to the difference between the then balance in the Capital Improvement Reserve account and the cost to complete the present and future such repair and replacement so that at all times there is an adequate amount in the Capital Improvement Reserve account to pay for such repair and replacement on a going forward basis.
Appears in 2 contracts
Samples: Lease Agreement (Medical Properties Trust Inc), Lease Agreement (Medical Properties Trust Inc)
Maintenance and Repair. (a) Tenant, at its expenseexpense and without the prior consent of Landlord, shall keep each maintain the Leased Property and Tenant’s Property, and every portion thereof, and all private roadways, sidewalks and curbs appurtenant thereto to the Leased Property, and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (repair whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such the Leased Property, Property and Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, shall promptly make all reasonably necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, including those necessary to ensure continuing compliance with all Legal Requirements, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)Commencement Date. All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant will not take or omit to take any action the taking or omission of which might would reasonably be expected to materially impair the value or the usefulness of the applicable Leased Property or any part thereof or any Capital Improvement thereto for its Primary Intended Use.
(b) Lessor Landlord shall not under any circumstances be required to (i) build or rebuild any improvements on any the Leased Property, or to ; (ii) make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, ; or to (iii) maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor Landlord pursuant to any law in effect at the time of the execution of this Master Lease or thereafter hereafter enacted.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Master Lease and no action or inaction by Lessor Landlord shall be construed as (i) constituting the consent or request of LessorLandlord, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, thereof or any Capital Improvement thereto; or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor Landlord in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor Landlord in any the Leased Property, or any portion thereofthereof or upon the estate of Landlord in any Capital Improvement thereto.
(d) Tenant willshall, upon the expiration or prior earlier termination of the Term, vacate and surrender the applicable Leased Property (including all Capital Improvements, subject to Lessor the provisions of Article X), in each case with respect to such Facility, to Landlord in the condition in which such Leased Property was originally received from LessorLandlord and Capital Improvements were originally introduced to such Facility, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Master Lease (including Section 14.2 and 15.1) and except for ordinary wear and tear tear.
(subject to the obligation of Tenant e) Without limiting Tenant’s obligations to maintain the Leased Property and Tenant’s Property under this Master Lease, within thirty (30) days after the end of each calendar year (commencing with the calendar year ending December 31, 2018), Tenant shall provide Landlord with evidence satisfactory to Landlord in good order the reasonable exercise of Landlord’s discretion that Tenant has in such calendar year spent, with respect to the Leased Property and Tenant’s Property, an aggregate amount equal to at least 1% of its actual Net Revenue from the Facilities for such calendar year on installation or restoration and repair during or other improvement of items, which installations, restorations and repairs and other improvements are capitalized in accordance with GAAP with an expected life of not less than three (3) years. If Tenant fails to make at least the entire Term)above amount of expenditures and fails within sixty (60) days after receipt of a written demand from Landlord to either (i) cure such deficiency or (ii) obtain Landlord’s written approval, in its reasonable discretion, of a repair and maintenance program satisfactory to cure such deficiency, then the same shall be deemed an Event of Default hereunder.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Master Lease (Gaming & Leisure Properties, Inc.), Master Lease (Eldorado Resorts, Inc.)
Maintenance and Repair. (a) Tenant, at its expense, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) Tenant acknowledges that it has received the Premises in good order and repair. Tenant, reasonable at its own expense, will maintain all parts of the Premises, including any altered, rebuilt, additional or substituted buildings, structures and other improvements thereto and all sidewalks, curbs, landscaping, parking lots, vaults and vault space located on or adjacent to the Premises, in good repair and condition, except for ordinary wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s usetear, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall promptly and will take all action and will make all necessary structural and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinarynonstructural, foreseen or and unforeseen or arising by reason and ordinary and extraordinary changes, replacements and repairs which may be required to keep all parts of a condition existing prior the Premises in good repair and condition. All repairs, replacements and renewals shall be at least equal in quality to the commencement of the Term (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant will Landlord shall not take be required to maintain, repair or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property rebuild all or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided hereinPremises. Tenant hereby waives, to the extent permitted by law, waives the right to (i) require Landlord to maintain, repair or rebuild all or any part of the Premises, or (ii) make repairs at the expense of Lessor Landlord pursuant to any law Legal Requirement at any time in effect at the time of the execution of this Lease or thereafter enactedeffect.
(cb) Except as expressly set forth in this LeaseIn the event that all or any part of the Improvements shall encroach upon any property, nothing contained in this Lease and no action street, or inaction by Lessor right-of-way adjoining or adjacent to the Premises, or shall be construed as (i) constituting violate the consent agreements or request of Lessor, express conditions now or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for hereafter affecting the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property Premises or any part thereof, or shall hinder or obstruct any easement or right-of-way to which the Premises are now or hereafter subject, then, promptly after written request of Landlord or any Person so affected, Tenant shall, at its expense, either (i) obtain valid and effective waivers or settlements of all claims, liabilities and damages resulting therefrom or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may createchanges, including alteration or in any way be the basis forremoval, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant Improvements and take such other action as shall be necessary to maintain the Leased Property in good order and repair during the entire Term)remove or eliminate such encroachments, violations, hindrances, obstructions or impairments.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Lease Agreement (Sather Trucking Corp), Lease Agreement (Sather Trucking Corp)
Maintenance and Repair. (a) TenantTenant shall at all times maintain, at its Tenant's sole cost and expense, the Existing Premises and the Adjoining Property in substantially as good repair and appearance as they are in on the date hereof and shall keep each Leased Property at all times maintain the Project I Improvements and all private roadwaysProject II Improvements in substantially as good repair and appearance as they are on the Project I Final Completion Date and Project II Final Completion Date, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable ordinary wear and tear excepted (whether or not excepted, and fit to be used for their intended use in accordance with the need for such repairs occurs practices generally recognized as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof)then acceptable by other companies in its industry, and, in the case of the Equipment, in as good mechanical condition as it was on the later of the date hereof or the date of its installation, except as otherwise provided in ARTICLE XIV, for ordinary wear and tear. Tenant shall take every other reasonable action necessary or appropriate for the preservation and safety of the Leased Premises. Tenant shall promptly make all necessary and appropriate repairs and replacements thereto, Alterations of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shallunforeseen, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances may be required to build or rebuild any improvements on any Leased Property, or comply with the foregoing requirements of this Paragraph 12(a). Landlord shall not be required to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased PropertyAlteration, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any of the Leased Premises or Adjoining Property in any way, except as expressly provided herein. and Tenant hereby waives, to the extent permitted by law, the expressly waives any right which may be provided for in any Law now or hereafter in effect to make repairs Alterations at the expense of Lessor Landlord or to require Landlord to make Alterations. Any Alteration made by Tenant pursuant to any law this Paragraph 12 shall be made in effect at conformity with the time provisions of the execution of this Lease or thereafter enactedParagraph 13.
(cb) Except as expressly set forth in this LeaseIf any Improvement, nothing contained in this Lease and no action now or inaction by Lessor hereafter constructed, shall be construed as (i) constituting encroach upon any setback or any property, street or right-of-way adjoining the consent Leased Premises, (ii) violate the provisions of any restrictive covenant affecting the Leased Premises, (iii) hinder or request obstruct any easement or right-of-way to which any of Lessor, express the Leased Premises is subject or implied(iv) impair the rights of others in, to or under any contractorof the foregoing, subcontractorTenant shall, laborerat Tenant's sole cost and expense, materialman promptly after receiving a notice thereof, correct such condition from the party entitled to make such demand, and either (A) obtain from all necessary parties waivers or vendor to settlements of all claims, liabilities and damages resulting from each such encroachment, violation, hindrance, obstruction or for impairment, whether the performance of any labor same shall affect Landlord, Tenant or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereofboth, or (iiB) giving Tenant any righttake such action as shall be necessary to remove all such encroachments, power hindrances or permission obstructions and to contract for end all such violations or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the impairments, including, if necessary, making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofAlterations.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Lease Agreement (Etec Systems Inc), Lease Agreement (Etec Systems Inc)
Maintenance and Repair. (a) Tenant, Tenant shall at all times maintain each Related Premises in as good repair and appearance as each is in on the date hereof and fit to be used for their intended use in accordance with the better of the practices generally recognized as then acceptable by other companies in its expense, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which industry or observed by Tenant with respect to similar properties in comparable retail environments that are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (whether owned or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof)operated by it, and, in the case of the Equipment, in as good mechanical condition as it was on the later of the date hereof or the date of its installation, except as otherwise provided in ARTICLE XIV, for ordinary wear and tear. Tenant shall take every other action necessary or appropriate for the preservation and safety of each Related Premises. Tenant shall promptly make all necessary and appropriate repairs and replacements thereto, Alterations of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shallunforeseen, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances may be required to build or rebuild any improvements on any Leased Property, or comply with the foregoing requirements of this Paragraph 12(a). Landlord shall not be required to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased PropertyAlteration, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property Related Premises in any way, except as expressly provided herein. and Tenant hereby waives, to the extent permitted by law, the expressly waives any right which may be provided for in any Law now or hereafter in effect to make repairs Alterations at the expense of Lessor Landlord or to require Landlord to make Alterations. Any Alteration made by Tenant pursuant to any law this Paragraph 12 shall be made in effect at conformity with the time provisions of the execution of this Lease or thereafter enactedParagraph 13.
(cb) Except as expressly set forth in this LeaseIf any Improvement, nothing contained in this Lease and no action now or inaction by Lessor hereafter constructed, shall be construed as (i) constituting encroach upon any setback or any property, street or right-of-way adjoining any Related Premises, (ii) violate the consent provisions of any restrictive covenant affecting any Related Premises, (iii) hinder or request obstruct any easement or right-of-way to which any Related Premises is subject or (iv) impair the rights of Lessor, express or impliedothers in, to or under any contractorof the foregoing, subcontractorTenant shall, laborerpromptly after receiving notice or otherwise acquiring knowledge thereof, materialman either (A) obtain from all necessary parties waivers or vendor to settlements of all claims, liabilities and damages resulting from each such encroachment, violation, hindrance, obstruction or for impairment, whether the performance of any labor same shall affect Landlord, Tenant or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereofboth, or (iiB) giving Tenant any righttake such action as shall be reasonably necessary to remove all such encroachments, power hindrances or permission obstructions and to contract for end all such violations or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the impairments, including, if necessary, making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofAlterations.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement (Bon Ton Stores Inc)
Maintenance and Repair. (a) Tenant, at its expenseexpense and without the prior consent of Landlord, shall keep each maintain the Leased Property and Tenant’s Property, and every portion thereof, and all private roadways, sidewalks and curbs appurtenant thereto to the Leased Property, and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (repair whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such the Leased Property, Property and Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, shall promptly make all reasonably necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, including those necessary to ensure continuing compliance with all Legal Requirements, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)Commencement Date. All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant will not take or omit to take any action the taking or omission of which might would reasonably be expected to materially impair the value or the usefulness of the applicable Leased Property or any part thereof or any Capital Improvement thereto for its Primary Intended Use.
(b) Lessor Landlord shall not under any circumstances be required to (i) build or rebuild any improvements on any the Leased Property, or to ; (ii) make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, ; or to (iii) maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor Landlord pursuant to any law in effect at the time of the execution of this Master Lease or thereafter hereafter enacted.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Master Lease and no action or inaction by Lessor Landlord shall be construed as (i) constituting the consent or request of LessorLandlord, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, thereof or any Capital Improvement thereto; or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor Landlord in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor Landlord in any the Leased Property, or any portion thereofthereof or upon the estate of Landlord in any Capital Improvement thereto.
(d) Tenant willshall, upon the expiration or prior earlier termination of the Term, vacate and surrender the applicable Leased Property (including all Capital Improvements, subject to Lessor the provisions of Article X), in each case with respect to such Facility, to Landlord in the condition in which such Leased Property was originally received from LessorLandlord and Capital Improvements were originally introduced to such Facility, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Master Lease and except for ordinary wear and tear tear.
(subject to the obligation of Tenant e) Without limiting Tenant’s obligations to maintain the Leased Property and Tenant’s Property under this Master Lease, within thirty (30) days after the end of each calendar year, Tenant shall provide Landlord with evidence satisfactory to Landlord in good order the reasonable exercise of Xxxxxxxx’s discretion that Tenant has in such calendar year spent, with respect to the Leased Property and Tenant’s Property, an aggregate amount equal to at least one percent (1%) of its actual Net Revenue from the Facilities for such calendar year on installation or restoration and repair during or other improvement of items, which installations, restorations and repairs and other improvements are capitalized in accordance with GAAP with an expected life of not less than three (3) years. If Tenant fails to make at least the entire Term)above number of expenditures and fails within sixty (60) days after receipt of a written demand from Landlord to either (i) cure such deficiency or (ii) obtain Landlord’s written approval, in its reasonable discretion, of a repair and maintenance program satisfactory to cure such deficiency, then the same shall be deemed an Event of Default hereunder.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Master Lease (PENN Entertainment, Inc.), Master Lease (PENN Entertainment, Inc.)
Maintenance and Repair. (a) Tenant, at its expenseexpense and without the prior consent of Landlord, shall keep each maintain the Leased Property and Tenant’s Property, and every portion thereof, and all private roadways, sidewalks and curbs appurtenant thereto to the Leased Property, and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (repair whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such the Leased Property, Property and Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, shall promptly make all reasonably necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, including those necessary to ensure continuing compliance with all Legal Requirements, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)Commencement Date. All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant will not take or omit to take any action the taking or omission of which might would reasonably be expected to materially impair the value or the usefulness of the applicable Leased Property or any part thereof or any Capital Improvement thereto for its Primary Intended Use.
(b) Lessor Landlord shall not under any circumstances be required to (i) build or rebuild any improvements on any the Leased Property, or to ; (ii) make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, ; or to (iii) maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor Landlord pursuant to any law in effect at the time of the execution of this Master Lease or thereafter hereafter enacted.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Master Lease and no action or inaction by Lessor Landlord shall be construed as (i) constituting the consent or request of LessorLandlord, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, thereof or any Capital Improvement thereto; or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor Landlord in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor Landlord in any the Leased Property, or any portion thereofthereof or upon the estate of Landlord in any Capital Improvement thereto.
(d) Tenant willshall, upon the expiration or prior earlier termination of the Term, vacate and surrender the applicable Leased Property (including all Capital Improvements, subject to Lessor the provisions of Article X), in each case with respect to such Facility, to Landlord in the condition in which such Leased Property was originally received from LessorLandlord and Capital Improvements were originally introduced to such Facility, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Master Lease and except for ordinary wear and tear tear.
(subject to the obligation of Tenant e) Without limiting Tenant’s obligations to maintain the Leased Property and Tenant’s Property under this Master Lease, within thirty (30) days after the end of each calendar year (commencing with the calendar year ending December 31, 2016), Tenant shall provide Landlord with evidence satisfactory to Landlord in good order the reasonable exercise of Landlord’s discretion that Tenant has in such calendar year spent, with respect to the Leased Property and Tenant’s Property, an aggregate amount equal to at least 1% of its actual Net Revenue from the Facilities for such calendar year on installation or restoration and repair during or other improvement of items, which installations, restorations and repairs and other improvements are capitalized in accordance with GAAP with an expected life of not less than three (3) years. If Tenant fails to make at least the entire Term)above amount of expenditures and fails within sixty (60) days after receipt of a written demand from Landlord to either (i) cure such deficiency or (ii) obtain Landlord’s written approval, in its reasonable discretion, of a repair and maintenance program satisfactory to cure such deficiency, then the same shall be deemed an Event of Default hereunder.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Master Lease (PNK Entertainment, Inc.), Master Lease (Gaming & Leisure Properties, Inc.)
Maintenance and Repair. (a) TenantAt all times during the Term, subject to the provisions of Article XII Tenant shall, at its Tenant’s sole cost and expense, shall keep (i) maintain (without the prior written consent of Landlord) each Leased Property Demised Premises and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) Property with respect thereto in good order order, condition and repair, reasonable repair (ordinary wear and tear excepted (whether or not excepted) with the need for such repairs occurs as a result standard of Tenant’s use, any prior use, the elements or care and quality taking into account the age of such Leased PropertyDemised Premises and otherwise in compliance with all applicable Property Requirements and the Permitted Use, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall and (ii) promptly make all customary (consistent with past practice) or necessary and appropriate capital repairs and replacements thereto, thereof and thereto of every kind and nature, including without limitation all Required Work, whether interior or exterior, structural or non-structuralnonstructural, ordinary or extraordinary, foreseen or unforeseen unforeseen, or arising by reason of a condition existing prior to the commencement Tenant’s use of the Term Demised Premises, any prior use thereof or otherwise (concealed but excluding any such repairs, replacements or otherwise). All repairs shall, other Work to the extent reasonably achievablethe same are required as a result of Landlord’s gross negligence or willful misconduct), be made in goodeach case, workmanlike subject to ordinary wear and first-class mannertear and taking into account the age of the applicable Demised Premises. In the event that the Parties cannot agree on the appropriate adjustment, either Party shall have the right to submit the same to expedited arbitration in accordance with all applicable federalthe provisions of Section 27.1. Notwithstanding anything to the contrary herein and for the avoidance of doubt, state and local statutes, ordinances, by-laws, codes, rules and regulations relating in no event shall Tenant be in default of its obligations under this Section 10.1(a) solely as a result of its failure to perform any Required Work if Landlord’s consent is required with respect to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended UseWork and Landlord unreasonably withholds such consent.
(b) Lessor Except as otherwise expressly required elsewhere in this Lease to the contrary, Landlord shall not under any circumstances be required to (i) build or rebuild any improvements on with respect to any Leased PropertyDemised Premises, (ii) maintain or to make any repairs, replacementsAlterations, alterations, replacements or restorations or renewals of any nature of or description to the applicable Leased PropertyDemised Premises, whether ordinary or extraordinary, structural or non-structuralnonstructural, foreseen or unforeseen, or (iii) to incur any costs or expenses in connection therewith. Except as otherwise expressly required elsewhere in this Lease, Tenant hereby unconditionally waives any rights Tenant may have pursuant to any applicable Legal Requirements in effect on the Commencement Date or hereafter enacted to make any expenditure whatsoever with respect theretorepairs, in connection with this LeaseAlterations, replacements or restorations, or to maintain perform any Leased Property in any waymaintenance, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enactedLandlord.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Distribution Center Master Lease (Copper Property CTL Pass Through Trust), Distribution Center Master Lease (J C Penney Co Inc)
Maintenance and Repair. (a) Tenant, at its expense, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE Article XIV, shall promptly make all necessary and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Master Lease Agreement (Kindred Healthcare Inc), Master Lease Agreement (Ventas Inc)
Maintenance and Repair. (a) TenantThe Lessee, at its sole cost and expense, shall keep maintain each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) Asset in good order and repair, reasonable condition (ordinary wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall promptly excepted) and make all necessary and appropriate repairs and replacements thereto, of every kind and naturenature whatsoever, whether interior or exterior, structural or non-structural, ordinary or extraordinary, structural or nonstructural or foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class mannerunforeseen, in accordance each case as required by all Requirements of Law and Insurance Requirements and on a basis consistent with all applicable federal, state the operation and local statutes, ordinances, by-laws, codes, rules maintenance of properties comparable in type and regulations relating location to such work. Tenant will not take Leased Asset and in no event less than the standards applied by the Lessee and its Affiliates in the operation and maintenance of other comparable properties owned or omit to take any action leased by the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for Lessee and its Primary Intended UseAffiliates.
(b) The Lessor shall not under any no circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations alterations or renewals of any nature or description to the applicable any Leased Property, whether ordinary Asset or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this LeaseLease (other than for Advances made in accordance with and pursuant to the terms of this Lease and the Construction Agency Agreement). The Lessor shall not be required to maintain, repair or rebuild all or any part of any Leased Asset, and the Lessee waives any right to (i) require the Lessor to maintain, repair, or to maintain rebuild all or any part of any Leased Property in any wayAssets, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to or (ii) make repairs at the expense of the Lessor pursuant to any law Requirement of Law, Insurance Requirement, contract, agreement, or covenant, condition or restriction in effect at any time during the time of the execution of this Lease or thereafter enactedBase Term applicable to any Leased Asset.
(c) Except as expressly set forth in this LeaseWith respect to Aircraft, nothing contained in this Lease without limiting the generality of Section 13.1(a), the Lessee, at its sole cost and no action or inaction by Lessor shall be construed as expense, shall: (i) constituting maintain, service, repair, overhaul and test such Aircraft (A) so as to keep such Aircraft in operating condition as good as when delivered to the consent or request of LessorLessee hereunder, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear excepted, and (subject B) so as to keep such Aircraft in such operating condition as may be necessary to enable the airworthiness certification of such Aircraft to be maintained in good standing at all times under the Federal Aviation Act of 1958, as amended, except during such period or periods as such Aircraft is being overhauled, maintained, serviced, repaired or tested; (ii) maintain all records, logs and other materials required by the FAA to be maintained in respect of such Aircraft; and (iii) promptly furnish to the obligation Lessor such notification and take such other action on the Lessor's behalf as may be required to be filed by the Lessor with any governmental authority because of Tenant the Lessor's interest in such Aircraft. The Lessee shall forthwith upon the Acquisition Date with respect to maintain any Aircraft, cause such Aircraft to be fully registered and at all times thereafter to remain duly registered in the Leased Property name of the Lessee. The Lessee shall affix or cause to be affixed to each Aircraft in good order and repair during the entire Termplace designated by the Lessor (or, if no such place shall have been designated, in a prominent place).
, labels, plates or other markings stating that such Aircraft is owned by the Lessor. The Lessee shall not without the prior permission of the Lessor change or remove (eor permit to be changed or removed or otherwise permit a decrease in the visibility of) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures insignia or lettering which is on any Aircraft at the Leased Propertytime of delivery thereof or which is thereafter placed thereon indicating the Lessor's ownership thereof.
Appears in 2 contracts
Samples: Master Lease and Security Agreement (Rite Aid Corp), Master Lease and Security Agreement (Rite Aid Corp)
Maintenance and Repair. (a) TenantExcept as provided in Section 9.1(b) or Articles VIII or XIV, Lessee, at its sole expense, shall will keep each the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable repair except for ordinary wear and tear excepted (whether or not the need for such repairs occurs occurred as a result of TenantLessee’s use, any prior use, the elements or the age of such the Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, shall promptly make all necessary and appropriate repairs repairs, replacements, and replacements thereto, improvements thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term of this Lease (concealed or otherwise), or required by any governmental agency having jurisdiction over the Leased Property. Lessee, however, shall be permitted to prosecute claims against Lessor’s predecessors in title for breach of any representation or warranty or for any latent defects in the Leased Property to be maintained by Lessee unless Lessor is already diligently pursuing such a claim. All repairs shall, to the extent reasonably achievable, be made at least equivalent in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating quality to such the original work. Tenant Lessee will not take or omit to take any action action, the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor Except as set forth in Article XVIII of this Lease, Lessee shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals (at the sole cost and expense of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, Lessor) all Capital Expenditures required in connection with (i) Emergency Situations, (ii) Legal Requirements, (iii) maintenance of the Franchise Agreement, (iv) the performance by Lessee of its obligations under this Lease, or and (v) other additions to maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to it may reasonably deem appropriate and that are permitted hereunder during the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enactedTerm.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant Lessee will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such the Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant Lessee to maintain the Leased Property in good order and repair repair, as would a prudent owner, during the entire TermTerm of the Lease, to the extent required in Section 9.1(a)), or damage by casualty or Condemnation (subject to the obligations of Lessee to restore or repair as set forth in the Lease.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.)
Appears in 2 contracts
Samples: Lease Agreement (MHI Hospitality CORP), Lease Agreement (MHI Hospitality CORP)
Maintenance and Repair. (a) TenantLessee shall, at its sole cost and expense, shall (i) take good care of the Equipment and keep each Leased Property the same and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) parts thereof in good and safe order and repaircondition, reasonable with all mechanical devices, electronic systems and component parts in good working order, normal wear and tear excepted excepted, consistent with maintenance practices used by Lessee with respect to equipment similar in type owned or leased by Lessee and consistent with customary industry standards, and (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall ii) promptly make all necessary and appropriate repairs needed repairs, restorations and replacements thereto, of every kind parts in and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property Equipment or any part thereof thereof, including, without limitation, overhaul of any piece of Equipment requiring overhaul in Lessee's commercially prudent judgment. All such repairs, restorations and replacements of parts shall be of a standard and quality consistent with customary industry standards and sufficient for the proper maintenance and operation of the Equipment and shall be constructed and installed in a good and workmanlike manner in compliance with Legal Requirements and Insurance Requirements. In carrying out its Primary Intended Useobligations under this Section 10.1, Lessee shall not discriminate in any way in the maintenance of the Equipment as compared with other similar equipment owned or leased by Lessee and shall use the Equipment in a manner consistent with sound operating practices thereof.
(b) Lessor shall not under any no circumstances be required to build furnish any services or rebuild any improvements on any Leased Property, facilities with respect to the Equipment or to make any repairs, replacements, alterations, restorations alterations or renewals of any nature or description to the applicable Leased Propertyany Equipment, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, Lease or to maintain any Leased Property Equipment in any way, way except as expressly otherwise provided hereinin the Operative Agreements. Tenant hereby waivesLessor shall not be required to maintain, to the extent permitted by lawrepair or rebuild all or any part of any Equipment, and Lessee waives the right to (i) require Lessor to maintain, repair, or rebuild all or any part of any Equipment, or (ii) make repairs at the expense of Lessor pursuant to any law Legal Requirement, Insurance Requirement, contract, agreement, covenants, condition or restriction at any time in effect at the time of the execution of this Lease or thereafter enactedeffect.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Lease (Hanover Compression Inc), Lease (Hanover Compressor Co)
Maintenance and Repair. (a) Following demolition of the Block 165/167 Improvements, Tenant shall secure the Block 167 Premises. Tenant shall maintain the Block 167 Premises in a clean and secure condition until such time as Tenant commences development of the Block 167 Premises, including providing reasonable lighting, regular cleaning, and otherwise maintaining the Block 167 Premises in reasonably presentable condition.
(b) Tenant, at its sole cost and expense, shall keep each Leased maintain, repair, and replace, or cause to be maintained, repaired, and replaced, the Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good condition, repair, and working order and repairin compliance with Project Standards, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall promptly make all necessary and appropriate repairs thereto and replacements theretothereof, of every kind and naturenature whatsoever, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, nonstructural or foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as expressly set forth in contemplated under this Lease, nothing contained Landlord shall not be required to build any improvements or install any equipment on the Property, make any repairs, replacements, alterations or renewals of any nature to the Property, nor may Tenant require Landlord to make any expenditure whatsoever in connection with this Lease or to maintain the Property in any way. Landlord shall not be required to maintain, repair, replace, or rebuild all or any part of the Property, and no action Tenant waives any right which might arise by virtue of this Lease or inaction by Lessor shall be construed as pursuant to Legal Requirements to (i) constituting the consent require Landlord to maintain, repair, replace, or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property rebuild all or any part thereof, of the Property or (ii) giving Tenant any right, power or permission make repairs to contract for or permit the performance Property at the expense of Landlord pursuant to the terms of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may createLegal Requirement, contract, agreement, covenant, condition, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofrestriction.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Ground Lease, Ground Lease
Maintenance and Repair. Except for any Alterations that Tenant is permitted to make pursuant to this Lease, Tenant shall at all times, including any Requisition period, put, keep and maintain the Leased Premises (aincluding, without limitation, the roof, landscaping, walls, footings, foundations and structural components of the Leased Premises) Tenantand the Equipment in the same (or better) condition and order of repair as exists as of the date of this Lease, at its expense, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable except for ordinary wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s usetear, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, and shall promptly make all necessary and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, which may be required to be made upon or to make any expenditure whatsoever with respect thereto, in connection with the Leased Premises in order to keep and maintain the Leased Premises in the order and condition required by this Lease, or to maintain any Leased Property in any way, except as expressly provided hereinParagraph 11(a). Tenant hereby waivesshall do or cause others to do all shoring of the Leased Premises or of foundations and walls of the Improvements and every other act necessary or appropriate for preservation and safety thereof, by reason of or in connection with any excavation or other building operation upon any of the Leased Premises, whether or not Landlord shall, by reason of any Legal Requirements or Insurance Requirements, be required to take such action or be liable for failure to do so. LANDLORD SHALL NOT BE REQUIRED TO MAKE ANY REPAIR, WHETHER FORESEEN OR UNFORESEEN, OR TO MAINTAIN ANY OF THE LEASED PREMISES OR ADJOINING PROPERTY IN ANY WAY, AND TENANT HEREBY EXPRESSLY WAIVES THE RIGHT TO MAKE REPAIRS AT THE EXPENSE OF THE LANDLORD, WHICH RIGHT MAY BE PROVIDED FOR IN ANY LAW NOW OR HEREAFTER IN EFFECT. Nothing in the extent permitted by law, the right preceding sentence shall be deemed to make repairs at the expense of Lessor preclude Tenant from being entitled to insurance proceeds or condemnation awards for Restoration pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
Paragraphs 13 (c) Except as expressly set forth in and 14 (g) of this Lease. Tenant shall, nothing contained in this Lease all events, make all repairs for which it is responsible hereunder promptly, and no action or inaction by Lessor all repairs shall be construed in a good, proper and workmanlike manner. Subject to Section 18 hereof, in the event that any Improvement shall violate any Legal Requirements or Insurance Requirements and as a result of such violation enforcement action is threatened or commenced against Tenant or with respect to the Leased Premises, then Tenant, at the request of Landlord, shall either (i) constituting obtain valid and effective waivers or settlements of all claims, liabilities and damages resulting from each such violation, whether the consent same shall affect Landlord, Tenant or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereofboth, or (ii) giving Tenant any righttake such action as shall be necessary to remove such violation, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may createincluding, or in any way be the basis forif necessary, any right, title, interest, lien, claim Alteration. Any such repair or other encumbrance upon Alteration shall be made in conformity with the estate provisions of Lessor Paragraph 12. If Tenant shall be in default under any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease Xxxxxxxxx 00, Xxxxxxxx may after thirty (30) business days written notice given to Tenant and except for ordinary wear and tear (subject to the obligation failure of Tenant to maintain cure during said period, but without notice in the event of an emergency, do whatever is necessary to cure such default as may be appropriate under the circumstances for the account of and at the expense of Tenant. In the event of an emergency Landlord shall notify Tenant of the situation by phone or other available communication. All reasonable sums so paid by Landlord and all reasonable costs and expenses (including, without limitation, attorneys' fees and expenses) so incurred, together with interest thereon at the Default Rate from the date of payment or incurring the expense, shall constitute Additional Rent payable by Tenant under this Lease and shall be paid by Tenant to Landlord on demand. Tenant shall from time to time replace with Replacement Equipment any of the Equipment which shall have become worn out or unusable for the purpose for which it is intended, been taken by a Condemnation as provided in Paragraph 13, or been lost, stolen, damaged or destroyed as provided in Paragraph 14. Tenant shall repair at its sole cost and expense all damage to the Leased Property in good order Premises caused by the removal of Equipment or Replaced Equipment or other personal property of Tenant or the installation of Replacement Equipment. All Replacement Equipment (except for Trade Fixtures) shall become the property of Landlord, shall be free and repair during clear of all liens and rights of others and shall become a part of the entire Term)Equipment as if originally demised herein.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Maintenance and Repair. (a) TenantLessee, at its expense, shall will keep each the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Lessee's Personal Property) in good first class order and repair, reasonable wear and tear excepted repair (whether or not the need for such repairs occurs as a result of Tenant’s Lessee's use, any prior use, the elements or elements, the age of such the Leased Property, Tenant’s Personal Property, Property or any portion thereof), ) and, except as otherwise provided in ARTICLE XIVArticles XIV and XV, shall promptly with reasonable promptness, will make all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term of this Lease (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made at least equivalent in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating quality to such the original work. Tenant Lessee will not take or omit to take any action the taking or omission of which might would be reasonably expected to materially impair the value or the usefulness of the applicable Leased Property or any part thereof for its the Primary Intended Use. Notwithstanding anything contained herein to the contrary, Lessee may make additions, modifications and remodeling to the Leased Property which are not Capital Additions from time to time which are necessary for the Primary Intended Use and which permit the Lessee to comply fully with its obligations set forth in this Lease, provided that any such action will be undertaken expeditiously, in a workmanlike manner and will not significantly alter the character or purpose or detract from the value or operating efficiency of the Leased Property and will not significantly impair the revenue producing capability of the Leased Property or adversely affect the ability of the Lessee to comply with the provisions of this Lease. Such additions, modifications and remodeling shall, without payment by Lessor at any time, be included under the terms of this Lease and shall be the property of Lessor. Lessee shall notify the Lessor of any and all repairs, improvements, additions, modifications and remodeling made to the Leased Property in excess of Fifty Thousand and 00/100 Dollars ($50,000.00) and obtain consent from Lessor prior to making such repairs, improvements, additions, modifications and remodeling; provided, however, that if in the reasonable judgment of Lessee emergency repairs are needed, Lessee may make such repairs and shall notify Lessor that such repairs have been made as soon as practicable.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any the Leased Property, or to make any repairs, replacements, alterations, restorations restorations, or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinaryextraordinary or capital in nature, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, thereto in connection with this Lease, or to maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman materialmen or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, or (ii) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any the Leased Property, Property or any portion thereof.
(d) Tenant Unless Lessor shall convey any of the Leased Property to Lessee pursuant to the provisions of this Lease, Lessee will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such the Leased Property was originally received from Lessor, except as improved, constructed, repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant Lessee to maintain the Leased Property in good order and repair during the entire TermTerm of the Lease).
(e) Tenant shall establish , damage caused by the gross negligence or willful acts of Lessor and maintain any reserve accounts reasonably damage or destruction described in Article XIV or resulting from a Taking described in Article XV which Lessee is not required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Propertyterms of this Lease to repair or restore.
Appears in 2 contracts
Samples: Lease Agreement (Medical Properties Trust Inc), Lease Agreement (Medical Properties Trust Inc)
Maintenance and Repair. (a) Tenant, at its expense, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable Except for ordinary wear and tear excepted (whether or not tear, Tenant shall at all times maintain the need Leased Premises and the Adjoining Property in as good repair and appearance as they are in on the Occupancy Date and fit to be used for such repairs occurs their intended use in accordance with the practices generally recognized as a result of Tenant’s usethen acceptable by other companies engaged in similar industries in San Diego, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof)California, and, in the case of the Building Systems Equipment, in as good mechanical condition as it was on the later of the Occupancy Date or the date of its installation, except for ordinary wear and tear. Tenant shall take such actions as otherwise provided in ARTICLE XIV, may be reasonably necessary or appropriate for the preservation and safety of the Leased Premises. Tenant shall promptly make all necessary and appropriate repairs and replacements thereto, Alterations of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shallunforeseen, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances may be required to build or rebuild any improvements on any Leased Property, or comply with the foregoing requirements of this Paragraph 12(a). Landlord shall not be required to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased PropertyAlteration, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any of the Leased Premises or Adjoining Property in any way, except as expressly provided herein. and Tenant hereby waives, to the extent permitted by law, the expressly waives any right which may be provided for in any Law now or hereafter in effect to make repairs Alterations at the expense of Lessor Landlord or to require Landlord to make Alterations. Any Alteration made by Tenant pursuant to any law this Paragraph 12 shall be made in effect at conformity with the time provisions of the execution of this Lease or thereafter enactedParagraph 13.
(cb) Except as expressly set forth in this Leasefor Permitted Encroachments, nothing contained in this Lease and no action if any Improvement, now or inaction by Lessor hereafter constructed, shall be construed as (i) constituting encroach upon any setback or any property, street or right-of-way adjoining the consent Leased Premises, (ii) violate the provisions of any restrictive covenant affecting the Leased Premises, (iii) hinder or request obstruct any easement or right-of-way to which any of Lessor, express the Leased Premises is subject or implied(iv) impair the rights of others in, to or under any contractorof the foregoing, subcontractorTenant shall, laborerpromptly after receiving notice or otherwise acquiring knowledge thereof, materialman either (A) obtain from all necessary parties waivers or vendor to settlements of all claims, liabilities and damages resulting from each such encroachment, violation, hindrance, obstruction or for impairment, whether the performance of any labor same shall affect Landlord, Tenant or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereofboth, or (iiB) giving Tenant any righttake such action as shall be necessary to remove all such encroachments, power hindrances or permission obstructions and to contract for end all such violations or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the impairments, including, if necessary, making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofAlterations.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Sublease Agreement (Metabasis Therapeutics Inc), Sublease Agreement (Novatel Wireless Inc)
Maintenance and Repair. (a) Tenant, at its expenseexpense and without the prior consent of Landlord, shall keep each maintain (or cause Tenant’s Subsidiaries to maintain) the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control Property, and every portion thereof (and Tenant’s Personal Propertyi) in good order accordance with Prudent Industry Practice and repair(ii) in a manner which complies with all federal and state utility commission delivery standards, reasonable wear and tear excepted (in each instance whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such the Leased Property and Tenant’s Property. Without limiting the foregoing, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIVat its expense, shall promptly be responsible for (i) coordinating with local, state or federal governmental authorities to execute moves and relocations of the Distribution Systems and the Leased Improvements, (ii) complying with any other requirements instituted by such authorities in order to perform the Primary Intended Use at the Leased Property in accordance with Prudent Industry Practice, (iii) repairing fiber and copper cuts with respect to the Distributions Systems on a timely basis, and (iv) replacing poles, conduits and such other facilities at the Leased Property as may be required from time to time in order to comply with its obligations hereunder.
(b) Tenant shall perform the maintenance obligations hereunder with reasonable promptness and make all reasonably necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, including those necessary to ensure continuing compliance in all material respects with all Legal Requirements, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)Commencement Date. All repairs shall, to shall be consistent with Prudent Industry Practice and in no event shall Tenant remove (except in the extent reasonably achievable, be made in good, workmanlike and first-class manner, case of a replacement performed in accordance with all applicable federalthe terms hereof) any portion of the Distribution Systems without obtaining Landlord’s prior consent, state and local statuteswhich shall not be unreasonably withheld, ordinances, by-laws, codes, rules and regulations relating to such workconditioned or delayed. Tenant will not take or omit to take any action the taking or omission of which might would reasonably be expected to materially impair the value or the usefulness of the applicable Leased Property or any part thereof or any Capital Improvement thereto for its Primary Intended Use. Tenant shall provide, at its expense, periodic reports (no less than quarterly) to Landlord, as reasonably requested by Landlord from time to time, on operational matters in sufficient detail to enable Landlord to confirm that Tenant is discharging its maintenance and other obligations under this Master Lease; provided, however, Tenant shall not be required to collect or report any information that it does not regularly collect and report for use in its oversight of operations of facilities comparable to the Distribution Systems which Tenant or any of its Subsidiaries owns. Without limiting the provisions of Section 24.1, Landlord’s shall have the right to inspect the Leased Property from time to time and/or request information from Tenant, upon reasonable advance notice to Tenant, to confirm that Tenant is discharging its maintenance obligations under this Master Lease.
(bc) Lessor Landlord shall not under any circumstances be required to (i) build or rebuild any improvements on any the Leased Property, or to ; (ii) make any repairs, replacements, alterations, upgrades, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, ; or to (iii) maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor Landlord pursuant to any law in effect at the time of the execution of this Master Lease or thereafter hereafter enacted.
(cd) Except as expressly set forth in this Lease, nothing Nothing contained in this Master Lease and no action or inaction by Lessor Landlord shall be construed as (i) constituting the consent or request of LessorLandlord, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, thereof or any Capital Improvement thereto; or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor Landlord in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance Encumbrance upon the estate of Lessor Landlord in any the Leased Property, or any portion thereofthereof or upon the estate of Landlord in any Capital Improvement thereto.
(de) Tenant willacknowledges and agrees that all system maps and records for the Distribution Systems are the property of Landlord and shall be maintained by Tenant within Tenant’s engineering systems and records during the Term. Tenant shall provide Landlord with electronic access to the system maps and records for the Distribution Systems and copies of such system maps and records, in each case, pursuant to an arrangement mutually acceptable to both parties.
(f) Tenant shall, upon the expiration or prior earlier termination of the Term, (a) vacate and surrender the applicable Leased Property (including all Capital Improvements, subject to Lessor the provisions of Article X), in each case with respect to such Facility, to Landlord in the condition in which such Leased Property was originally received from LessorLandlord and Capital Improvements were originally introduced to such Facility, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Master Lease and except for ordinary wear and tear and (subject b) provide an electronic copy of (or mutually acceptable access arrangement for) all system maps and records for the Distribution Systems to Landlord or the obligation Successor Tenant, provided however, that in the case where Tenant has exercised the right to extend the Term of Tenant to maintain this Master Lease for less than all of the Leased Property in good order and repair during the entire Term).
(e) accordance with Section 1.4, Tenant shall establish and maintain any reserve accounts reasonably only be required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at to surrender the Leased PropertyProperty and the system maps and records related to the maintenance and operation for the Non-Renewal Leased Properties upon the expiration or earlier termination of the then current Term.
Appears in 2 contracts
Samples: Master Lease (Windstream Services, LLC), Master Lease (Communications Sales & Leasing, Inc.)
Maintenance and Repair. (a) 9.1.1 Tenant, at its expense, shall keep each Leased Property maintain the Premises and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and the Tenant’s Personal Property) Property in good order and repair, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, shall promptly make all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)Commencement Date. All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property or any part thereof Premises for its the Primary Intended Use.
(b) Lessor 9.1.2 Landlord shall not under any circumstances be required to (a) build or rebuild any improvements on any Leased Property, or to the Premises; (b) make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased PropertyPremises, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, ; or to (c) maintain any Leased Property the Premises in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor Landlord pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted.
(c) Except as expressly set forth in this Lease, nothing 9.1.3 Nothing contained in this Lease and no action or inaction by Lessor Landlord shall be construed as (ia) constituting the consent or request of LessorLandlord, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property the Premises or any part part(s) thereof, ; or (iib) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor Landlord in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor Landlord in any Leased Property, the Premises or any portion part(s) thereof.
(d) 9.1.4 Unless Landlord shall convey any of the Premises to Tenant willpursuant to the provisions of this Lease, Tenant shall, upon the expiration or prior earlier termination of the Term, vacate and surrender the applicable Leased Property Premises to Lessor Landlord in the condition in which such Leased Property the Premises was originally received from LessorLandlord or (if applicable) were originally introduced to the Premises, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term)tear.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Lease (Global Medical REIT Inc.), Purchase Agreement (Global Medical REIT Inc.)
Maintenance and Repair. (a) Tenant, at its expense, shall 9.1.1 Lessee will keep each the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which that are under Tenant’s control Lessee's control, including windows and plate glass, parking lots, mechanical, electrical and plumbing systems and equipment (including conduit and Tenant’s Personal Property) ductware), and non-load bearing interior walls, in good order and repair, reasonable except for ordinary wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof)tear, and, except as otherwise provided in ARTICLE XIVSection 9.1.2, shall promptly Section 14, Section 15 or Section 40, with reasonable promptness, make all necessary and appropriate repairs repairs, replacements, and replacements thereto, improvements thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term of this Lease (concealed or otherwise), or required by any governmental agency having jurisdiction over the Leased Property, except as to the structural elements of the Leased Improvements. Lessee, however, shall be permitted to prosecute claims against Lessor's Predecessor(s) in title for breach of any representation or warranty or for any latent defects in the Leased Property to be maintained by Lessee unless Lessor is already diligently pursuing such a claim. All repairs shall, to the extent reasonably achievable, be made at least equivalent in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating quality to such the original work. Tenant Lessee will not take or omit to take any action action, the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) 9.1.2 In addition, Lessor shall not under any circumstances be required to build or rebuild bear the cost of maintaining any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to underground utilities and the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time elements of the execution Leased Improvements, including the roof of this Lease the Facility unless caused by the negligent acts or thereafter enactedwillful misconduct of Lessee.
(c) Except as expressly set forth in this Lease, nothing 9.1.3 Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i1) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, or (ii2) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, for any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any the Leased Property, or any portion thereof.
(d) Tenant 9.1.4 Lessee will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the substantially same condition in which such the Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant Lessee under Section 9.1.1 hereof to maintain the Leased Property in good order and repair repair, as would a prudent owner, during the entire TermTerm of the Lease), or damage by casualty or Condemnation (subject to the obligations of Lessee to restore or repair as set forth in the Lease.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.)
Appears in 2 contracts
Samples: Lease Agreement (Host Funding Inc), Lease Agreement (Host Funding Inc)
Maintenance and Repair. (a) Tenant9.1.1 Lessee shall, at its expenseno expense to Lessor, shall keep each maintain the Leased Property, and every portion thereof, Lessee’s Personal Property and all Capital Additions, and all private roadways, sidewalks and curbs appurtenant thereto to the Leased Property, and which are under TenantLessee’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted repair (to the extent necessary to maintain continued operation of the same in a manner consistent with the standard set forth in Section 7.2.4) whether or not the need for such repairs occurs as a result of TenantLessee’s use, any prior use, the elements or the age of such the Leased Property, TenantLessee’s Personal Property, or any portion thereof)Property and all Capital Additions, and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, Lessee shall promptly make or cause to be made all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, including those necessary to comply with changes in any material Legal Requirements, subject to Article XII regarding permitted contests, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)Commencement Date. All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant Lessee will not take or omit to take any action the taking or omission of which might would reasonably Portions of this exhibit that have been marked by [***] have been omitted pursuant to a request for confidential treatment filed separately with the Securities and Exchange Commission. be expected to materially impair the value or the usefulness of the applicable Leased Property Property, any Capital Additions, or any part part(s) thereof for its continued operation thereof, in a manner consistent with the standard set forth in Section 7.2.4, for the Primary Intended Use.
(b) 9.1.2 Lessor shall not under any circumstances be required to (i) build or rebuild any improvements on the Leased Property or any Leased Property, or to Capital Additions; (ii) make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, ; or to (iii) maintain any the Leased Property or any Capital Additions in any way, except as expressly provided herein. Tenant Lessee hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted.
(c) Except as expressly set forth in this Lease, nothing 9.1.3 Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to the Leased Property, any Leased Property Capital Additions or any part part(s) thereof, ; or (ii) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, create any right, title, interest, lien, valid claim or other encumbrance upon the estate of Lessor in any the Leased Property, any Capital Additions or any portion thereofpart(s) thereof other than Permitted Encumbrances and inchoate mechanics liens resulting from work permitted to be done at the Leased Properties in accordance with this Lease, subject to the terms hereof with respect thereto.
(d) Tenant will9.1.4 Unless Lessor shall convey any of the Leased Property to Lessee pursuant to the provisions of this Lease, Lessee shall, upon the expiration or prior earlier termination of the Term, vacate and surrender the applicable Leased Property, Lessee’s Personal Property and Intangible Property (other than Lessee’s Excluded Assets) that Lessor elects to acquire, and all Capital Additions to Lessor in the condition in which such the Leased Property was originally received from LessorLessor and such Lessee’s Personal Property and Intangible Property (other than Lessee’s Excluded Assets) and any Capital Additions were originally introduced to each Facility, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (tear, and subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term)any casualty or condemnation.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Master Lease and Security Agreement (Brookdale Senior Living Inc.), Master Lease and Security Agreement (Hcp, Inc.)
Maintenance and Repair. (a) TenantLessee acknowledges that it has received the Leased Premises in good condition, repair and appearance. Lessee agrees that, at its expense, shall it will keep each and maintain the Leased Property Premises and all private roadwaysany Lessee's Improvements, sidewalks including any altered, rebuilt, additional or substituted buildings, structures and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) other improvements thereto, in good order condition, repair and repairappearance, reasonable except for ordinary wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s usetear, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall and it will promptly make all necessary structural and appropriate nonstructural, foreseen and unforeseen, and ordinary and extraordinary changes and repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior which may be required to the commencement of the Term (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made to keep and maintain the Leased Premises and any Lessee's Improvements in goodsuch good condition, workmanlike repair and first-class manner, in accordance with all applicable federal, state appearance and local statutes, ordinances, by-laws, codes, rules it will keep the Leased Premises and regulations relating to such workany Lessee's Improvements orderly and free and clear of rubbish. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build maintain, repair or rebuild any improvements on any Leased Propertyrebuild, or to make any repairs, replacements, alterations, restorations replacements or renewals of any nature or description to the applicable Leased PropertyPremises, or any part thereof, whether ordinary or extraordinary, structural or non-structuralnonstructural, foreseen or unforeseen, or to make maintain the Leased Premises or any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property part thereof in any way, except as . Lessee hereby expressly provided herein. Tenant hereby waives, to the extent permitted by law, waives the right to make repairs at the expense of Lessor pursuant to which may be provided for in any law in effect at the time of the execution commencement of the Term of this Lease or which may thereafter be enacted. If Lessee shall abandon the Leased Premises, it shall give Lessor and any Permitted Mortgagee immediate notice thereof.
(cb) Except as expressly set forth in If any Improvements situated on the Leased Premises at any time during the Term of this LeaseLease shall encroach upon any property, nothing street or right-of-way adjoining or adjacent to the Leased Premises, or shall violate the agreements or conditions contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting any restrictive covenant affecting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property Premises or any part thereof, or shall impair the rights of others under or hinder or obstruct any easement or right-of-way to which the Leased Premises are subject, then, promptly after the written request of Lessor or any person affected by any such encroachment, violation, impairment, hindrance or obstruction, Lessee shall, at its expense, either (i) obtain effective waivers or settlements of all claims, liabilities and damages resulting from each such encroachment, violation, impairment, hindrance or obstruction whether the same shall affect Lessor, Lessee or both, or (ii) giving Tenant any rightmake such changes in the Improvements on the Leased Premises and take such other action as shall be necessary to remove such encroachments, power hindrances or permission obstructions and to contract for end such violations or permit impairments, including, if necessary, the performance alteration or removal of any labor Improvement on the Leased Premises. Any such alteration or services removal shall be made in conformity with the requirements of paragraph 11(a) to the same extent as if such alteration or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by removal were an alteration under the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Termparagraph 11(a).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 2 contracts
Samples: Lease Agreement (Lincoln National Corp), Lease Agreement (Lincoln National Corp)
Maintenance and Repair. (a) TenantTenant shall at all times maintain the Leased Premises in as good repair and appearance as they are in on the date hereof and fit to be used for their intended use in accordance with practices then generally recognized as appropriate for high-rise first—class office buildings in midtown Manhattan by prudent institutional owners or operators thereof and, at in the case of the Equipment, in as good mechanical condition as it was on the later of the date hereof or the date of its expenseinstallation, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable ordinary wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s useand, any prior useprovided further, that, in all events, the elements or Leased Premises (including all Improvements and Equipment) shall be kept and maintained in accordance with the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided standards and requirements set forth in ARTICLE XIV, the Severance Lease and Condominium Documents. Tenant shall promptly make all necessary and appropriate repairs and replacements thereto, Alterations of every kind and naturenature (structural and non-structural), whether interior foreseen or exteriorunforeseen, which may be necessary or appropriate to keep and maintain the Leased Premises in compliance with all applicable Legal Requirements and all Insurance Requirements and to comply with the foregoing requirements of this Paragraph 12(a), the Severance Lease, and the Condominium Documents. Landlord shall not be required to make any Alteration (structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any of the Leased Property Premises in any way, except as expressly provided herein. and Tenant hereby waives, to the extent permitted by law, the expressly waives any right which may be provided for in any Law now or hereafter in effect to make repairs Alterations at the expense of Lessor Landlord or to require Landlord to make Alterations. Any Alteration made by Tenant pursuant to this Paragraph 12 shall be made in conformity with the provisions of Paragraph 13.
(b) If any law Improvement, now or hereafter constructed, shall (i) encroach upon any setback or any property, street or right-of-way adjoining the Condominium, or any other unit of the Condominium, or the common elements of the Condominium, in effect violation of applicable Laws or the Condominium Documents, (ii) violate the provisions of any restrictive covenant affecting the Leased Premises, (iii) hinder or obstruct any easement or right-of-way to which any of the Leased Premises is subject or (iv) impair the rights of others in, to or under any of the foregoing, Tenant shall use commercially reasonable efforts (or shall use commercially reasonable efforts to cause the Condominium Board to) promptly after receiving a written notice, claim or demand to cure same, either (A) obtain from all necessary parties waivers or settlements of all claims, liabilities and damages resulting from each such encroachment, violation, hindrance, obstruction or impairment, whether the same shall affect Landlord, Tenant or both, or (B) take such action as shall be necessary to remove all such encroachments, hindrances or obstructions and to end all such violations or impairments, including, if necessary, making Alterations; provided however, that with respect to any Improvements existing at the time Leased Premises as of the execution date of this Lease (x) the mere existence of any condition under clauses (i) - (iv) hereinabove shall not by itself constitute an Event of Default hereunder and (y) Tenant shall not be required to take the actions required under clauses (A) or thereafter enacted.(B) hereof unless (1) Tenant shall have received written notice to take such actions from any governmental or quasi-governmental authority having jurisdiction over the Leased Premises or (2) a Person other than Landlord shall commence an action or proceeding with respect thereto. In any case, the provisions hereof shall be subject to Tenant’s contest rights under Paragraph 14 hereof
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as Tenant agrees that (i) constituting at all times during the consent or request of LessorTerm it shall cause the Leased Premises to be managed by a reputable third party property manager, express or impliedpursuant to a property management agreement reviewed by and reasonably acceptable to Landlord (and Lender, to any contractorif applicable), subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or and (ii) giving Tenant any rightsuch manager shall agree to enter into separate subordination of management agreements for the benefit of Landlord and Lender, power as applicable, reasonably satisfactory to Landlord or permission to contract for or permit Lender, as the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that case may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination be. A copy of the Termcurrently existing property management agreement by and between Tenant and First New York Partners has been delivered to Landlord and Landlord hereby approves same. If Tenant desires to enter into a new management agreement same shall be delivered to Landlord and Lender (if applicable) for approval prior to the effective date thereof; provided that if Landlord and Lender (if applicable) shall fail to approve or disapprove such management agreement in writing within fourteen (14) days of delivery thereof by Tenant, vacate and surrender then same shall be deemed approved (but clause (ii) of the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions first sentence of this Lease and except for ordinary wear and tear (subject Paragraph 12(c) shall nevertheless be applicable to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Termsuch management agreement).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
Samples: Lease Agreement (New York Times Co)
Maintenance and Repair. (a) Tenant, at its expenseexpense and without the prior consent of Landlord, shall keep each maintain the Leased Property and Tenant’s Property, and every portion thereof, and all private roadways, sidewalks and curbs appurtenant thereto to the Leased Property, and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (repair whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such the Leased Property, Property and Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, shall promptly make all reasonably necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, including those necessary to ensure continuing compliance with all Legal Requirements, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)Commencement Date. All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant will not take or omit to take any action the taking or omission of which might would reasonably be expected to materially impair the value or the usefulness of the applicable Leased Property or any part thereof or any Capital Improvement thereto for its Primary Intended Use.
(b) Lessor Landlord shall not under any circumstances be required to (i) build or rebuild any improvements on any the Leased Property, or to ; (ii) make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, ; or to (iii) maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor Landlord pursuant to any law in effect at the time of the execution of this Master Lease or thereafter hereafter enacted.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Master Lease and no action or inaction by Lessor Landlord shall be construed as (i) constituting the consent or request of LessorLandlord, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, thereof or any Capital Improvement thereto; or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor Landlord in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor Landlord in any the ACTIVE/119970514.22 Leased Property, or any portion thereofthereof or upon the estate of Landlord in any Capital Improvement thereto.
(d) Tenant willshall, upon the expiration or prior earlier termination of the Term, vacate and surrender the applicable Leased Property (including all Capital Improvements, subject to Lessor the provisions of Article X), in each case with respect to such Facility, to Landlord in the condition in which such Leased Property was originally received from LessorLandlord and Capital Improvements were originally introduced to such Facility, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Master Lease and except for ordinary wear and tear tear.
(subject to the obligation of Tenant e) Without limiting Tenant’s obligations to maintain the Leased Property and Tenant’s Property under this Master Lease, within thirty (30) days after the end of each calendar year, Tenant shall provide Landlord with evidence satisfactory to Landlord in good order the reasonable exercise of Xxxxxxxx’s discretion that Tenant has in such calendar year spent, with respect to the Leased Property and Tenant’s Property, an aggregate amount equal to at least one percent (1%) of its actual Net Revenue from the Facilities for such calendar year on installation or restoration and repair during or other improvement of items, which installations, restorations and repairs and other improvements are capitalized in accordance with GAAP with an expected life of not less than three (3) years. If Tenant fails to make at least the entire Term)above number of expenditures and fails within sixty (60) days after receipt of a written demand from Landlord to either (i) cure such deficiency or (ii) obtain Landlord’s written approval, in its reasonable discretion, of a repair and maintenance program satisfactory to cure such deficiency, then the same shall be deemed an Event of Default hereunder.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
Maintenance and Repair. (a) TenantSubject to Lessor's obligation to make Capital Expenditures and performance of Lessor's obligations under Subsection 9.1(c), Lessee, at its sole expense, shall keep each the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable except for ordinary wear and tear excepted (whether or not the need for such repairs occurs occurred as a result of Tenant’s Lessee's use, any prior use, the elements or the age of such the Leased Property, Tenant’s Personal Property, or any portion thereof), and, except . Except as otherwise provided in ARTICLE XIVSection 9.1(b), shall promptly Article XIV or Article XV, and subject to Lessor's obligation to make Capital Expenditures, Lessee shall, with reasonable promptness, make all necessary and appropriate repairs repairs, replacements, and replacements thereto, improvements thereto of every kind and nature, whether interior or exterior, structural or non-structural, exterior ordinary or extraordinary, foreseen or unforeseen unforeseen, or arising by reason of a condition existing prior to the commencement of the Term of this Lease (concealed or otherwise), or required by any governmental agency having jurisdiction over the Leased Property. Lessee, however, shall be permitted upon prior written notice to Lessor to prosecute claims against Lessor's predecessors in title for breach of any representation or warranty or for any latent defects in the Leased Property to be maintained by Lessee unless Lessor is already diligently pursuing or elects to diligently pursue such a claim. All repairs shall, to the extent reasonably achievable, be made at least equivalent in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating quality to such the original work. Tenant Lessee will not take or omit to take any action action, the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant willLessee shall, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such the Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this the Lease and except for ordinary wear and tear (subject to the obligation of Tenant Lessee to maintain the Leased Property in good order and repair during the entire Termrepair, as provided in Subsection 9.1(a)), damage by casualty or Condemnation, and Lessor's obligations with respect to Capital Expenditures.
(ec) Tenant Lessor shall establish be responsible for and maintain any reserve accounts reasonably pay for items of a capital nature and to make Capital Expenditures, all as required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Propertyprovided in Section 3.6.
Appears in 1 contract
Maintenance and Repair. (a) Tenant9.1.1 Lessee, at its sole cost and expense, shall will keep each the Leased Property and Lessee's Personal Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s Lessee's control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted repair (whether or not the need for such repairs occurs as a result of Tenant’s Lessee's use, any prior use, the elements or the age of such the Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE Article XIV, shall promptly with reasonable promptness, make all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term Commencement Date (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made at least equivalent in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating quality to such the original work. Tenant Lessee will not take or omit to take any action the taking or omission of which might may materially or adversely impair the value or the usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use. Any repair work performed by Lessee shall be paid for so that no lien (i.e., mechanics', materialmen's or other liens) shall attach to the Leased Property, subject to the provisions of Article XII.
(b) 9.1.2 Lessor shall not under any circumstances be required in connection with this Lease to build or rebuild any improvements on any the Leased Property, or to make any repairs, replacements, alterations, restorations restorations, or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any the Leased Property in any way, except as expressly provided herein. Tenant Lessee hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted. Lessor shall have the right to give, record and post, as appropriate, notices of non-responsibility (or similar notices) under any mechanics' or materialmen's lien laws now or hereafter existing.
(c) Except as expressly set forth 9.1.3 Lessee shall not make any modifications, alterations or improvements to the Leased Improvements or any portion thereof, whether by addition or deletion, without Lessor's prior written consent, which consent may be given or withheld in Lessor's sole and absolute discretion; provided that Lessor shall not unreasonably withhold its consent to any non-structural modifications, alterations or improvements that do not constitute capital improvements and that are otherwise made in compliance with this Lease, nothing so long as the total cost thereof does not exceed $50,000 and the total cost in any twelve (12) month period does not exceed $100,000. Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractorsub-contractor, laborer, materialman materialman, or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair repair, or demolition of of, or to any the Leased Property or any part thereof, ; or (ii) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, for any right, title, interest, lien, claim claim, or other encumbrance upon the estate of Lessor in any the Leased Property, or any portion thereof. Lessor shall have the right to give, record and post, as appropriate, notices of non-responsibility (or similar notices) under any mechanics' or materialmen's lien laws now or hereafter existing.
(d) Tenant 9.1.4 Lessee will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such the Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of under this Lease and except for ordinary wear and tear (subject to the obligation of Tenant Lessee to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
Samples: Lease (Alterra Healthcare Corp)
Maintenance and Repair. (a) TenantExcept for any Alterations that Tenant is permitted to make pursuant to this Lease, Tenant shall at its expenseall times, shall including any Requisition period, put, keep each and maintain the Leased Property Premises (including, without limitation, the roof, landscaping, walls, footings, foundations and all private roadwaysstructural components of the Leased Premises) and the Equipment in the same condition and order of repair as exists as of the date of this Lease, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable except for ordinary wear and tear excepted and damage by insured casualty (whether or if the Leased Premises are not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereofrestored), and, except as otherwise provided in ARTICLE XIV, and shall promptly make all necessary and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen unforeseen, which may be required to be made upon or arising in connection with the Leased Premises in order to keep and maintain the Leased Premises in the order and condition required by this Paragraph 11(a). Tenant shall do or cause others to do all shoring of the Leased Premises or of foundations and walls of the Improvements and every other act necessary or appropriate for preservation and safety thereof, by reason of a condition existing prior to the commencement or in connection with any excavation or other building operation upon any of the Term (concealed Leased Premises, whether or otherwise). All repairs not Landlord shall, to the extent reasonably achievableby reason of any Legal Requirements or Insurance Requirements, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build take such action or rebuild any improvements on any Leased Property, or be liable for failure to do so. Landlord shall not be required to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Propertyrepair, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any of the Leased Premises or Adjoining Property in any way, except as expressly provided herein. and Tenant hereby waives, to the extent permitted by law, expressly waives the right to make repairs at the expense of Lessor the Landlord, which right may be provided for in any Law now or hereafter in effect. Nothing in the preceding sentence shall be deemed to preclude Tenant from being entitled to insurance proceeds or condemnation awards for Restoration pursuant to any law in effect at the time of the execution Paragraphs 13 (c) and 14 (g) of this Lease Lease. Tenant shall, in all events, make all repairs for which it is responsible hereunder promptly, and all repairs shall be in a good, proper and workmanlike manner.
(b) In the event that any Improvement shall violate any Legal Requirements or thereafter enactedInsurance Requirements and as a result of such violation enforcement action is commenced against Tenant or with respect to the Leased Premises, then Tenant, shall either (i) obtain valid and effective waivers or settlements of all claims, liabilities and damages resulting from each such violation, whether the same shall affect Landlord, Tenant or both, or (ii) take such action as shall be necessary to remove such violation, including, if necessary, any Alteration. Any such repair or Alteration shall be made in conformity with the provisions of Paragraph 12.
(c) Except If Tenant shall be in default under any of the provisions of this Paragraph 11 or Pxxxxxxxx 00, Xxxxxxxx may after thirty (30) days written notice given to Tenant and failure of Tenant to commence to cure during said period, but without notice in the event of an emergency, do whatever is necessary to cure such default as expressly set forth in this Leasemay be appropriate under the circumstances for the account of and at the expense of Tenant. In the event of an emergency Landlord shall notify Tenant of the situation by phone or other available communication. All reasonable sums so paid by Landlord and all reasonable costs and expenses (including, nothing contained in without limitation, attorneys’ fees and expenses) so incurred, together with interest thereon at the Default Rate from the date of payment or incurring the expense, shall constitute Additional Rent payable by Tenant under this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, paid by Tenant to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofLandlord on demand.
(d) Tenant willwaives the right to make repairs at the Landlord’s expense under any Legal Requirement now or hereafter in effect, upon the expiration or prior termination including, without limitation, under Sections 1941 and 1942 of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term)California Civil Code.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
Samples: Lease Agreement (Jo-Ann Stores Inc)
Maintenance and Repair. (a) TenantLessee, at its own expense, will keep and maintain, or cause to be kept and maintained, the Equipment in good operating condition, and will provide all maintenance and service and make all repairs necessary for such purpose. In addition, if any parts or accessories forming part of the Equipment shall keep each Leased Property and all private roadwaysfrom time to time become worn out, sidewalks and curbs appurtenant thereto and lost, destroyed, damaged beyond repair or otherwise permanently rendered unfit for use, Lessee, at its own expense, will within a reasonable time replace such parts or accessories, or cause the same to be replaced, by replacement parts or accessories which are under Tenant’s control (free and Tenant’s Personal Property) in good order clear of all liens, encumbrances or rights of others and repair, reasonable wear have a value and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall promptly make all necessary and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior utility at least equal to the commencement parts or accessories replaced. All replacement parts and accessories shall immediately become the property of Lessor and part of the Term (concealed Equipment for all purposes hereof; but the parts or otherwise)accessories replaced thereby shall no longer be the property of Lessor. All repairs shallLessee may also, from time to time, add further parts or accessories to the extent reasonably achievableEquipment, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to provided that such work. Tenant will addition does not take or omit to take any action the taking or omission of which might materially impair the value or usefulness utility of the applicable Leased Property Equipment; and any parts or accessories so added to such item of Equipment, if not required to be added as a replacement as above provided, shall remain the property of Lessee or other owner thereof and may be removed by Lessee at any part thereof for its Primary Intended Usetime prior to the expiration of this Lease, provided such removal does not impair the value, utility or ability to operate the Equipment (as would have been the case, if such addition had not been made) and no Event of Default hereunder shall then have occurred and be continuing. Any parts or accessories not removed from the Equipment within a reasonable time after the expiration or earlier termination of this Lease, shall become the property of Lessor.
(b) Lessor shall not under any circumstances be Pursuant to its power supply agreement with Ameren Energy Marketing Company executed as of the date hereof, Lessee is required to build or rebuild establish a separate reserve account to be used for actual major maintenance expenditures on the Equipment. The parties agree that this account, and any improvements on any Leased Property, or similar arrangements with other power supply customers relating to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time maintenance of the execution of this Lease Equipment, shall be established at a bank or thereafter enacted.
(c) Except other financial institution acceptable to both parties. Upon a failure by Lessee to fulfill its maintenance obligations as expressly set forth provided for in this LeaseAgreement, nothing contained Lessor may draw upon this account(s) in this Lease and order to perform any required maintenance, although it is under no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, obligation to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofdo so.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
Maintenance and Repair. (a) TenantExcept for any Alterations that Tenant is permitted to make pursuant to this Lease, Tenant shall at its expenseall times from and after the Closing Date, shall put, keep each and maintain the Leased Property Premises (including, without limitation, the roof, landscaping, walls, footings, foundations and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Propertystructural components of the Leased Premises) in good substantially the same (or better) condition and order and repairof repair as exists as of the Closing Date, reasonable except for ordinary wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s usetear, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, and shall promptly make all necessary and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, which may be required to be made upon or to make any expenditure whatsoever with respect thereto, in connection with the Leased Premises in order to keep and maintain the Leased Premises in the order and condition required by this Paragraph 11(a), subject, however, at all times to the provisions of Xxxxxxxxx 00, Xxxxxxxxx 00(x), Xxxxxxxxx 00(x) and Paragraph 15, including, without limitation, Tenant’s receipt of insurance proceeds or condemnation awards to the extent Tenant is entitled thereto pursuant to the provisions of this Lease, and provided that Tenant shall have no obligation to repair any damage to the Leased Premises caused by the affirmative action of Landlord or any other Indemnitee, which repair shall be made by Landlord at Landlord’s sole cost and expense (and Tenant shall allow Landlord access to maintain the Leased Premises to make such repair). Tenant shall do or cause others to do all shoring of the Leased Premises or of foundations and walls of the Improvements and every other act necessary or appropriate for preservation and safety thereof, by reason of or in connection with any excavation or other building operation upon any of the Leased Property Premises, whether or not Landlord shall, by reason of any Legal Requirements or Insurance Requirements, be required to take such action or be liable for failure to do so. EXCEPT AS OTHERWISE EXPRESSLY SET FORTH HEREIN, LANDLORD SHALL NOT BE REQUIRED TO MAKE ANY REPAIR, WHETHER FORESEEN OR UNFORESEEN, OR TO MAINTAIN ANY OF THE LEASED PREMISES OR ADJOINING PROPERTY IN ANY WAY, AND TENANT HEREBY EXPRESSLY WAIVES THE RIGHT TO MAKE REPAIRS AT THE EXPENSE OF THE LANDLORD, WHICH RIGHT MAY BE PROVIDED FOR IN ANY LAW NOW OR HEREAFTER IN EFFECT. Nothing in the preceding sentence shall be deemed to preclude Tenant from being entitled to insurance proceeds or condemnation awards for Restoration pursuant to Paragraphs 13(c) and 14(g). Tenant shall, in all events, make all repairs for which it is responsible hereunder promptly (but in any wayevent shall commence such repairs within the later of (i) thirty (30) days of the date Tenant becomes aware that such repairs are necessary or (ii) if a permit or license is necessary to make such repairs, except fifteen (15) days of the date on which Tenant obtains such permit or license, or, in the event of a Restoration pursuant to Paragraph 13(c) or 14(g), within the later of (A) thirty (30) days of the date insurance proceeds or a condemnation award has been paid to the Trustee or (B) if a permit or license is necessary to make such Restoration, fifteen (15) days of the date on which Tenant obtains such permit or license (it being understood that Tenant shall take such steps as expressly provided herein. Tenant hereby waivesare reasonably necessary, to the extent permitted by lawApplicable Laws, to protect and preserve the integrity and safety of the Leased Premises pending such payment) and shall diligently pursue such repairs to completion), and all repairs shall be made in a good, proper and workmanlike manner.
(b) In the event that any Improvement shall violate any Legal Requirements or Insurance Requirements, then Tenant, at the request of Landlord, shall either (i) obtain valid and effective variances, waivers or settlements of all claims, liabilities and damages resulting from each such violation, whether the same shall affect Landlord, Tenant or both (or in the case of a violation of Insurance Requirements, obtain new coverage where there is no violation of any Insurance Requirements), or (ii) take such action as shall be necessary to remove such violation, including, if necessary, the right to make repairs at making of an Alteration. Any such repair or Alteration shall be made in conformity with the expense provisions of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enactedParagraph 12.
(c) Except If Tenant shall be in default under any of the provisions of this Xxxxxxxxx 00, Xxxxxxxx may, thirty (30) days after Tenant’s receipt of written notice of default and failure of Tenant to commence to cure during such period or to diligently pursue such cure to completion, but without notice in the event of an emergency, do whatever is reasonably necessary to cure such default as expressly may be appropriate under the circumstances for the account of, and at the expense of, Tenant. In the event of an emergency Landlord shall notify Tenant of the situation by phone or other available communication and shall give Tenant as much time as is reasonably practicable (not to exceed thirty (30) days) before acting independently to cure such default. All reasonable sums so paid by Landlord and all reasonable costs and expenses (including, without limitation, reasonable attorneys’ fees and expenses) so incurred, together with interest thereon at the Default Rate from the date of payment or incurring of the expense, shall constitute Additional Rent payable by Tenant under this Lease within five (5) Business Days of demand therefor in writing; provided that, such demand shall include an itemized schedule of such expenses for which Landlord seeks reimbursement from Tenant as Additional Rent as set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofherein.
(d) Tenant will, upon the expiration or prior termination shall from time to time replace with Replacement Equipment any of the TermEquipment that shall have become worn out and is unusable for the purpose for which it is intended, vacate been taken by a Condemnation as provided in Paragraph 13, or been lost, stolen, damaged or destroyed as provided in Paragraph 14. Tenant shall repair at its sole cost and surrender expense all damage to the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required Premises caused by the provisions removal of this Lease and Equipment or other personal property of Tenant or the installation of Replacement Equipment. All Replacement Equipment (except for ordinary wear Trade Fixtures) shall become the property of Landlord, shall be free and tear clear of all Liens (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) other than any customary temporary liens which Tenant shall establish promptly discharge) and maintain rights of others (other than holders of any reserve accounts reasonably required by temporary liens which Tenant shall promptly discharge) and shall become a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at part of the Leased PropertyEquipment as if originally demised herein.
Appears in 1 contract
Maintenance and Repair. (a) Tenant9.1.1 Lessee shall, at its expenseno expense to Lessor, shall keep each maintain the Leased Property, and every portion thereof, Lessee’s Personal Property and all Capital Additions, and all private roadways, sidewalks and curbs appurtenant thereto to the Leased Property, and which are under TenantLessee’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted repair (to the extent necessary to maintain continued operation of the same in a manner consistent with the standard set forth in Section7.2.4) whether or not the need for such repairs occurs as a result of TenantLessee’s use, any prior use, the elements or the age of such the Leased Property, TenantLessee’s Personal Property, or any portion thereof)Property and all Capital Additions, and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, Lessee shall promptly make or cause to be made all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, including those necessary to comply with changes in any material Legal Requirements, subject to Article XII regarding permitted contests, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)Commencement Date. All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant Lessee will not take or omit to take any action the taking or omission of which might would reasonably be expected to materially impair the value or the usefulness of the applicable Leased Property Property, any Capital Additions, or any part thereof part(s)thereof for its continued operation thereof, in a manner consistent with the standard set forth in Section7.2.4, for the Primary Intended Use.
(b) 9.1.2 Lessor shall not under any circumstances be required to (i) build or rebuild any improvements on the Leased Property or any Leased Property, or to Capital Additions; (ii) make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, ; or to (iii) maintain any the Leased Property or any Capital Additions in any way, except as expressly provided herein. Tenant Lessee hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted.
(c) Except as expressly set forth in this Lease, nothing 9.1.3 Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to the Leased Property, any Leased Property Capital Additions or any part thereof, part(s)thereof; or (ii) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, create any right, title, interest, lien, valid claim or other encumbrance upon the estate of Lessor in any the Leased Property, any Capital Additions or any portion thereofpart(s)thereof other than Permitted Encumbrances and inchoate mechanics liens resulting from work permitted to be done at the Leased Properties in accordance with this Lease, subject to the terms hereof with respect thereto.
(d) Tenant will9.1.4 Unless Lessor shall convey any of the Leased Property to Lessee pursuant to the provisions of this Lease, Lessee shall, upon the expiration or prior earlier termination of the Term, vacate and surrender the applicable Leased Property, Lessee’s Personal Property and Intangible Property (other than Lessee’s IP Intangibles) that Lessor elects to acquire, and all Capital Additions to Lessor in the condition in which such the Leased Property was originally received from LessorLessor and such Lessee’s Personal Property and Intangible Property (other than Lessee’s IP Intangibles) and any Capital Additions were originally introduced to each Facility, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (tear, and subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term)any casualty or condemnation.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
Samples: Master Lease and Security Agreement (Brookdale Senior Living Inc.)
Maintenance and Repair. (a) Tenant, Tenant shall at its expense, shall keep each all times maintain the Leased Property Premises in as good repair and all private roadways, sidewalks and curbs appurtenant thereto and which appearance as they are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements on thedate hereof or the age Completion Date, as applicable, and fit to be used for their intended use in accordance with the better of such Leased Property, Tenant’s Personal Property, the practices generally recognized as then acceptable by other companies in its industry or any portion thereof)observed by Tenant with respect to the other real properties owned or operated by it, and, in the case of the Equipment, in as good mechanical condition as it was on the later of the date hereof or the date of its installation, as applicable, except for ordinary wear and tear. Tenant shall take every other action as otherwise provided in ARTICLE XIV, is reasonably necessary or appropriate for the preservation and safety of the Leased Premises. Tenant shall promptly make all necessary and appropriate repairs and replacements thereto, Alterations of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shallunforeseen, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances may be required to build or rebuild any improvements on any Leased Property, or comply with the foregoing requirements of this Paragraph 12(a). Landlord shall not be required to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased PropertyAlteration, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any of the Leased Property Premises in any way, except as expressly provided herein. and Tenant hereby waives, to the extent permitted by law, the expressly waives any right which may be provided for in any Law now or hereafter in effect to make repairs Alterations at the expense of Lessor Landlord or to require Landlord to make Alterations. Any Alteration made by Tenant pursuant to any law this Paragraph 12 shall be made in effect at conformity with the time provisions of the execution of this Lease or thereafter enactedParagraph 13.
(cb) Except as expressly set forth in this LeaseIf any Improvement, nothing contained in this Lease and no action now or inaction by Lessor hereafter constructed, shall be construed as (i) constituting encroach upon any setback or any property, street or right-of-way adjoining the consent Leased Premises, (ii) violate the provisions of any restrictive covenant affecting the Leased Premises, (iii) hinder or request obstruct any easement or right-of-way to which any of Lessor, express the Leased Premises is subject or implied(iv) impair the rights of others in, to or under any contractorof the foregoing, subcontractorTenant shall, laborerpromptly after receiving notice or otherwise acquiring knowledge thereof, materialman either (A) obtain from all necessary parties waivers or vendor to settlements of all claims, liabilities and damages resulting from each such encroachment, violation, hindrance, obstruction or for impairment, whether the performance of any labor same shall affect Landlord, Tenant or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereofboth, or (iiB) giving Tenant any righttake such action as shall be required to remove all such encroachments, power hindrances or permission obstructions and to contract for end all such violations or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the impairments, including, if necessary, making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofAlterations.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
Maintenance and Repair. (a) TenantThe Lessee, at its own cost and expense, shall keep each Leased will manage and maintain the Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order mechanical condition and repair, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall promptly make all necessary and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with prudent industry practice and in a manner consistent with that of other similar properties owned or operated by it or its Affiliates, and will take all applicable federalaction, state and local statuteswill make all changes and repairs, ordinancesstructural and nonstructural, by-lawsforeseen and unforeseen, codesordinary and extraordinary, rules which may be required to maintain the Property in good mechanical condition and regulations relating repair, in accordance with prudent industry practice, or which may be required pursuant to such workany Legal Requirement or Insurance Requirement at any time in effect. Tenant will not take Lessee shall, in accordance with prudent industry practice, repair or omit to take any action replace each item constituting the taking Improvements that shall have become worn out, damaged, inoperative or omission of which might materially impair obsolete in whole or in part; provided, however, that (i) the fair market value or usefulness use of the applicable Leased Property shall not be materially lessened by such replacements and repairs taken as a whole with the actions referred to in paragraphs 7(c), 10(a) and 10(b) hereof, and (ii) such replacements shall be of a type suitable for use in the industry for the same purpose and having a useful life at least as long as that of the Improvements (or any part thereof for its Primary Intended Use.
thereof) repaired or replaced (b) Lessor shall not under any circumstances be required prior to build obsolescence, loss or rebuild any improvements on any Leased Property, or to make any damage and the like). All repairs, replacements, alterations, restorations or renewals of any nature or description to replacements and rebuilding by the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided herein. Tenant hereby waivesLessee hereunder, to the extent permitted by lawLaw, shall immediately become and shall remain part of the Property of the Lessor, subject to this Lease. The Lessor shall not be required to, and Lessee hereby waives any right to require the Lessor to, manage, maintain, replace, repair or rebuild the Property or any part thereof and the Lessee waives any and all rights it may now or hereafter have to make any repairs at the cost and expense of the Lessor pursuant to any law Legal Requirement, Insurance Requirement, or otherwise, at any time in effect at the time of the execution of this Lease or thereafter enactedeffect.
(cb) Except as expressly set forth for Permitted Encumbrances, in this Leasethe event that all or any part of the Improvements shall encroach upon any property or right-of-way adjoining or adjacent to the Parcel or any part thereof, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting violate any agreements or conditions affecting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services Parcel or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or shall obstruct any easement or right-of-way to which the Parcel or the Property or any part thereof may be subject, then the Lessee shall, at its sole cost and expense, either (i) contest such matter pursuant to paragraph 18 hereof, (ii) giving Tenant any right, power or permission to contract obtain valid and effective Permits for or permit consents to such encroachments and/or violations (without any liability to Lessor, the performance of any labor or services Trustee, the Agent or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination Holders of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in Instruments for which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required parties are not indemnified by the provisions Lessee) or waivers or settlements of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.all claims,
Appears in 1 contract
Samples: Lease Agreement (Geon Co)
Maintenance and Repair. (a) Except as provided in Section 9.1(b) or Section 14, Tenant, at its sole expense, shall will keep each the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable repair except for ordinary wear and tear excepted (whether or not the need for such repairs occurs occurred as a result of Tenant’s use, any prior use, the elements or the age of such the Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, shall promptly make all necessary and appropriate repairs repairs, replacements, and replacements thereto, improvements thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term of this Lease (concealed or otherwise), or required by any governmental agency having jurisdiction over the Leased Property. Tenant, however, shall be permitted to prosecute claims against Landlord’s predecessors in title for breach of any representation or warranty or for any latent defects in the Leased Property to be maintained by Tenant unless Landlord is already diligently pursuing such a claim. All repairs shall, to the extent reasonably achievable, be made at least equivalent in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating quality to such the original work. Tenant will not take or omit to take any action action, the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor Notwithstanding Tenant’s obligations under Section 9.1(a) above or elsewhere in this Lease, unless caused by Tenant’s negligence or willful misconduct or that of its employees or agents, Tenant shall not be responsible for any Capital Improvements, including (without limitation) Capital Improvements required by the Franchisor under the Franchise Agreement. Landlord shall be responsible for all Capital Improvements, subject to (i) Landlord’s right to approve the Capital Budget pursuant to Section 39, and (ii) Landlord’s right in its sole discretion to refuse to make any Capital Expenditure required by the Franchisor; provided that, if such refusal results in a default under or termination of the Franchise Agreement, Landlord shall be responsible for all damages, termination payments payable by Tenant under the terms of the Franchise Agreement, application fees for a new franchise license approved by Landlord, increased royalty fees and other costs arising out of such refusal or out of the resulting need to apply for and enter into a substitute franchise license agreement. Except as set forth in the preceding sentence, Landlord shall not under any circumstances be required to build or rebuild any improvements improvement on any the Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor Landlord pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted. Landlord shall have the right to give, record and post, as appropriate, notices of nonresponsibility under any mechanic’s lien laws now or hereafter existing.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Lease and no action or inaction by Lessor Landlord shall be construed as (i1) constituting the consent or request of LessorLandlord, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, or (ii2) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor Landlord in respect thereof or to make any agreement that may create, or in any way be the basis for, for any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor Landlord in any the Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor Landlord in the condition in which such the Leased Property was originally received from LessorLandlord, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair repair, as would a prudent owner, during the entire TermTerm of the Lease, to the extent required in Section 9.1(a)), or damage by casualty or Condemnation (subject to the obligations of Tenant to restore or repair as set forth in the Lease.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.)
Appears in 1 contract
Samples: Lease Agreement (American Realty Capital Hospitality Trust, Inc.)
Maintenance and Repair. (a) TenantExcept as provided in SECTION 9.1(b) or ARTICLES VIII OR XIV, Lessee, at its sole expense, shall will keep each the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable repair except for ordinary wear and tear excepted (whether or not the need for such repairs occurs occurred as a result of TenantLessee’s use, any prior use, the elements or the age of such the Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, shall promptly make all necessary and appropriate repairs repairs, replacements, and replacements thereto, improvements thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term of this Lease (concealed or otherwise), or required by any governmental agency having jurisdiction over the Leased Property. Lessee, however, shall be permitted to prosecute claims against Lessor’s predecessors in title for breach of any representation or warranty or for any latent defects in the Leased Property to be maintained by Lessee unless Lessor is already diligently pursuing such a claim. All repairs shall, to the extent reasonably achievable, be made at least equivalent in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating quality to such the original work. Tenant Lessee will not take or omit to take any action action, the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor Except as set forth in ARTICLE XVIII, Lessee shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals (at the sole cost and expense of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, Lessor) all Capital Expenditures required in connection with (i) Emergency Situations, (ii) Legal Requirements, (iii) maintenance of the Franchise Agreement, (iv) the performance by Lessee of its obligations under this Lease, or and (v) other additions to maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to it may reasonably deem appropriate and that are permitted hereunder during the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enactedTerm.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant Lessee will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such the Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant Lessee to maintain the Leased Property in good order and repair repair, as would a prudent owner, during the entire TermTerm of the Lease, to the extent required in SECTION 9.1(a)), or damage by casualty or Condemnation (subject to the obligations of Lessee to restore or repair as set forth in the Lease.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.)
Appears in 1 contract
Maintenance and Repair. (a) Tenant(i) Except for any Alterations that Tenant is permitted to make pursuant to this Lease, Tenant shall at all times, including any Requisition period, at its sole cost and expense, shall put, keep each and maintain the Leased Property Premises (including, without limitation, the roof, landscaping, walls, footings, foundations, structural components and all private roadwaysother Improvements on the Leased Premises) and, sidewalks subject to Paragraph 11(a)(iii) below, the Equipment in the same condition and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repairof repair as exists as of the Commencement Date of this Lease, reasonable except for ordinary wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s usetear, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, and shall promptly make all necessary and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen unforeseen, which may be required to be made upon or arising in connection with the Leased Premises in order to keep and maintain the Leased Premises in the order and condition required by this Paragraph 11(a). Tenant shall do or cause others to do all shoring of the Leased Premises or of foundations and walls of the Improvements and every other act necessary or appropriate for preservation and safety thereof, by reason of a condition existing prior to or in connection with any excavation or other building operation upon the commencement of the Term (concealed Leased Premises, whether or otherwise). All repairs not Landlord shall, to the extent reasonably achievableby reason of any Legal Requirements or Insurance Requirements, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build take such action or rebuild any improvements on any Leased Propertybe liable for failure to do so. Except as specifically set forth in this Lease, or Landlord shall not be required to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Propertyrepair, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, maintain the Leased Premises or to maintain any Leased Adjoining Property in any way, except as expressly provided herein. and Tenant hereby waives, to the extent permitted by law, expressly waives the right to make repairs at the expense of Lessor pursuant to the Landlord, which right may be provided for in any law Law now or hereafter in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as expressly set forth effect. Tenant shall, in this Leaseall events, nothing contained in this Lease make all repairs for which it is responsible hereunder promptly, and no action or inaction by Lessor all repairs shall be construed as (i) constituting the consent or request of Lessorin a good, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofproper and workmanlike manner.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
Maintenance and Repair. (a) Tenant, at its expenseexpense and without the prior consent of Landlord, shall keep each maintain the Leased Property and Tenant’s Property, and every portion thereof, and all private roadways, sidewalks and curbs appurtenant thereto to the Leased Property, and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (repair whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such the Leased Property, Property and Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, shall promptly make all commercially reasonable and necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, including those necessary to ensure continuing compliance with all Legal Requirements, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement Commencement Date (including, but not limited to any latent or patent defects of the Term (concealed or otherwiseLeased Property). All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant will not take or omit to take any action the taking or omission of which might would reasonably be expected to materially impair the value or the usefulness of the applicable Leased Property or any part thereof or any Capital Improvement thereto for its Primary Intended Use. Tenant shall provide, install and at all times maintain in the Leased Premises all suitable furniture, fixtures and equipment, including, without limitation, the Gaming Equipment, and all personal property necessary for the conduct of the Primary Intended Use. Notwithstanding the foregoing, if Tenant reasonably believes that an election to not maintain, repair or replace any portion of the Leased Property or Tenant’s Property is in the best of interest of Tenant and the failure to maintain, repair or replace such item(s) could not be reasonably expected to impair the fair market value of the Leased Property and Tenant’s Property, then Tenant may seek Landlord’s consent to waive compliance with the obligations of this Section 9.1 solely with respect to any such item(s), which consent shall not be unreasonably withheld.
(b) Lessor Landlord shall not under any circumstances be required to (i) build or rebuild any improvements on any the Leased Property, or to ; (ii) make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, ; or to (iii) maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor Landlord pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Lease and no action or inaction by Lessor Landlord shall be construed as (i) constituting the consent or request of LessorLandlord, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, thereof or any Capital Improvement thereto; or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor Landlord in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor Landlord in any the Leased Property, or any portion thereofthereof or upon the estate of Landlord in any Capital Improvement thereto.
(d) Tenant willshall, upon the expiration or prior earlier termination of the Term, vacate and surrender the applicable Leased Property (including all Capital Improvements, subject to Lessor the provisions of Article X) and Tenant’s Property, to Landlord in the condition in which such Leased Property was originally received from LessorLandlord and Capital Improvements were originally introduced to the Leased Property, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease (including Section 14.2 and 15.1) and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term)tear.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
Samples: Lease (Penn National Gaming Inc)
Maintenance and Repair. (a) Tenant, at its sole cost and expense, shall keep each Leased the Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s 's control (and Tenant’s Personal Property) in good order order, condition and repair, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), repair and, except as otherwise expressly provided to the contrary in ARTICLE XIVArticle XlV, XV, or XVI with reasonable promptness, shall promptly make all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, whether interior or exterior, structural or non-structuralnonstructural, ordinary or extraordinary, patent or latent, foreseen or unforeseen unforeseen, or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)of this Lease and regardless of the cause necessitating repair. Tenant shall also be obligated at its expense to make all repairs, modifications and renovations necessary to comply with all licensing, safety and health and building code, regulations applicable to the Property so that it can be legally operated for its Primary Intended Use. All repairs by Tenant shall, to the extent reasonably achievable, be made at least equal in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating quality to such the original work. Tenant will shall not take or omit to take any action action, the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property all or any part thereof portion of the Property for its the Primary Intended Use. Tenant shall give Landlord ten days prior written notice of any repair, replacement, modification or renovation pursuant to this Section the cost of which exceeds $200,000 and, prior to commencing any such repair, replacement, modification or renovation, shall provide to Landlord either (i) a lien payment and completion bond in form and substance and issued by a surety reasonably acceptable to Landlord or (ii) a payment and completion guaranty in form and substance and executed by a guarantor reasonably acceptable to Landlord, as Tenant may elect.
(b) Lessor Landlord shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary interior or extraordinaryexterior, structural or non-structural, ordinary or extraordinary, patent or latent, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or nor shall Landlord under any circumstances be required to maintain any Leased the Property in any other way, except as expressly specifically provided herein. Tenant hereby waives, to the fullest extent permitted by law, the right to make repairs at the expense of Lessor Landlord pursuant to any law or equitable principle in effect at the time of the execution of this Lease or thereafter hereafter enacted. Landlord shall have the right to give, record and post, as appropriate, notices of non-responsibility under any mechanic's lien laws now or hereafter existing, and any other notices of a similar nature that Landlord may reasonably elect to give, record or post from time to time during the Term.
(c) Except as expressly set forth Nothing contained in this Lease, nothing contained in this Lease and no action or inaction by Lessor Landlord, shall be deemed or construed in any manner as (i) constituting the consent or request of LessorLandlord, express expressed or implied, ; to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property properly for the construction, alteration, addition, repair or demolition of or to any Leased Property all or any part thereof, portion of the Property or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property Property in such fashion a manner as would permit the making of any claim against Lessor in Landlord with respect thereof thereto, or to make any agreement that may create, or in any way may be the basis for, for the assertion of any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor Landlord in any Leased Property, all or any portion thereofof the Property.
(d) Unless Landlord conveys title to any of the Property to Tenant willpursuant to the provisions of this Lease, Tenant shall, upon the expiration or prior earlier termination of the Termthis Lease, vacate and surrender the applicable Leased Property to Lessor Landlord in the condition in which such Leased the Property was originally received from LessorLandlord, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease Lease, and except for or ordinary wear and tear (but subject to the obligation of Tenant under this Section to maintain the Leased Property in good order order, condition and repair during the entire Term)Term of this Lease) and except for damage or destruction by casualty or condemnation which Tenant is not required to repair by the provisions of this Lease.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
Samples: Lease Agreement (Emeritus Corp\wa\)
Maintenance and Repair. (a) TenantLessee, at its expense, shall keep each which in accordance with subparagraph (c) hereof may be shared with Lessor, will maintain the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good condition, repair and working order and repair, reasonable (ordinary wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereofexcepted), and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, shall promptly make all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen unforeseen, or arising by reason of a condition existing prior to the commencement of the Term of this Lease (concealed or otherwise). All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant Lessee will not take or omit to take any action the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property or any part thereof for its Primary Intended Useor commit any waste of the Leased Property or any part thereof.
(b) Except as otherwise provided for herein, Lessor shall not under any circumstances be required to build or rebuild any improvements on any the Leased Property, or to make any repairs, replacements, alterations, restorations alterations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any the Leased Property in any way, except as expressly provided herein. Tenant Lessee hereby waives, to the extent permitted by law, waives the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted.
(c) Except To the extent set forth below, and excluding any Taking or Damage, which shall be governed by the provisions of Article 15 hereof, Lessee and Lessor shall be jointly responsible for the costs of repairs or replacements of any roof, foundation, floor slab, heating and air conditioning systems, sewers, load bearing structural portions of the Improvements, or any paved areas (i.e., parking lots, walkways, roadways and driveways), arising out of or resulting from a single or related occurrence, event or change in Legal Requirements or Insurance Requirements that following such repairs or replacements has a projected useful life equal to or in excess of five (5) years and the aggregate the cost of which such replacements or repairs exceeds One Hundred Twenty Five Thousand Dollars ($125,000) (“Capital Replacement(s)”); provided that no such costs shall be payable by Lessor until the expiration or earlier termination of this Lease. For the purpose of this clause, the useful life of each item of Leased Property (the “Useful Life”) shall be deemed to be the lesser of (i) the useful life determined in accordance with the U.S. Department of the Treasury guidelines as expressly promulgated in the Table of Class Lives and Recovery Periods, “Appendix B” of Internal Revenue Service Publication No. 946, or such other I.R.S. Publication in effect and serving the same purposes herein contemplated at the time such equipment or improvement is placed in service and (ii) fifteen (15) years. At the expiration of or earlier termination of the Lease, Lessee shall have the right to request reimbursement of Lessor’s Share of the cost of a Capital Replacement incurred by Lessee (calculated according to the following formulas set forth in Section 2.1 hereof). Lessor shall pay Lessor’s Share to Lessee within ten (10) days of a written demand therefor. If any particular Capital Replacement cost will exceed $1,000,000 or if Lessor’s Share is projected to exceed $25,000 then Lessee, except in cases of emergency, shall obtain Lessor’s prior written approval for said Capital Replacement cost, which approval shall not be unreasonably withheld, conditioned or delayed. Failure by Lessor to approve the reasonable cost of any particular Capital Replacement shall relieve Lessee of any obligation hereunder to make such Capital Replacement. In addition, Lessor’s failure to respond in writing to Lessee’s written request for Lessor’s approval of a particular Capital Replacement within ten (10) days of Lessee’s forwarding the same to Lessor shall be conclusively deemed an approval by Lessor of such Capital Replacement and agreement to pay Lessor’s Share of the cost. The foregoing shall not apply to any Capital Replacements necessitated by Lessee’s Alterations or the willful misconduct or negligence of Lessee or Lessee’s employees, customers or other invitees or agents; it being understood that Lessee shall be responsible for all such costs. Any claim by Lessee against Lessor pursuant to this Lease, nothing Section 9.1(c) is hereby subordinated to the payment in full of any then due and payable indebtedness secured by the Indenture.
(d) Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, or (ii) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any the Leased Property, or any portion thereof.
(de) Tenant will, upon Upon the expiration or prior termination of the Term, Lessee will vacate and surrender the applicable Leased Property to Lessor in the condition in which such the Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary reasonable wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term)casualty or condemnation loss.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
Samples: Lease (Gc Net Lease Reit, Inc.)
Maintenance and Repair. (a) TenantExcept for any alterations that Tenant is permitted to make hereunder, Tenant shall at its expenseall times, shall including any Requisition period, put, keep each Leased Property and all private roadwaysmaintain the Premises, sidewalks including, without limitation, the roof, roof membrane, landscaping, walls (interior and curbs appurtenant thereto exterior), footings, foundations, parking lots, plumbing, conveyor systems and which are under Tenant’s control (structural and Tenant’s Personal non-structural components of the Premises, and the Adjoining Property) , in good order repair and repairappearance, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall promptly make all necessary and appropriate repairs and replacements thereto, (substantially equivalent in quality and workmanship to the original work) of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen unforeseen, which may be required to be made upon or arising in connection with any of the Premises in order to keep and maintain the Premises in as good repair and appearance as they were as of the Commencement Date, except for ordinary wear and tear. Notwithstanding the foregoing, Tenant shall not be required to make structural repairs or structural replacements to the Improvements, the Land or Landlord's Trade Fixtures, unless such repair or replacement is needed because of Tenant's act or failure to maintain such items. Tenant shall not be required to maintain the Racking/Shelving Items in the Premises in the same condition as at the Commencement Date; provided, however, that Tenant shall make any structural repairs or structural replacements necessary to the Racking/Shelving Items so that the system is operable for its intended purpose. Tenant shall do or cause others to do all that is necessary to plow or otherwise remove any and all accumulated snow from the Premises and Adjoining Property and keep both in safe condition. Tenant shall do or cause others to do all shoring of the Premises or Adjoining Property or of foundations and walls of the Improvements and every other act necessary or appropriate for preservation and safety thereof, by reason of a condition existing prior to the commencement or in connection with any excavation or other building operation upon any of the Term (concealed Premises or otherwise). All repairs Adjoining Property, whether or not Landlord shall, to the extent reasonably achievableby reason of any Legal Requirements or Insurance Requirements, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build take such action or rebuild any improvements on any Leased Property, or be liable for failure to do so. Landlord shall not be required to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Propertyrepair, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased of the Premises or Adjoining Property in any way, except as expressly provided herein. and Tenant hereby waives, to the extent permitted by law, expressly waives the right to make repairs at the expense of Lessor the Landlord, which right may otherwise be provided for in any law now or hereafter in effect. Nothing in the preceding sentence shall be deemed to preclude Tenant from being entitled to insurance proceeds or condemnation awards for Restoration pursuant to any law in effect at the time of the execution terms of this Lease Lease. Tenant shall, in all events, make all repairs for which it is responsible hereunder promptly, but in no event longer than thirty (30) days after a repair or thereafter enactedreplacement becomes prudent, and all repairs shall be in a good, proper and workmanlike manner, and diligently pursued to completion.
(cb) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor If Tenant shall be construed as (i) constituting the consent or request in default under any of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease Paragraph 9, Landlord or Lender may, after thirty (30) days' notice to Tenant and except for ordinary wear and tear (subject to the obligation failure of Tenant to maintain commence to cure during said period or to diligently prosecute such cure to completion once begun, but immediately upon notice in the Leased Property event of an emergency (that is, imminent danger of injury to persons or property), do whatever is necessary to cure such default as may be reasonable under the circumstances for the account of and at the expense of Tenant. In the event of an emergency, before Landlord may avail itself of its rights under this Paragraph 9(b), Landlord shall send notice to Tenant of the situation by telephone or other available communication. All actual and reasonable costs and expenses (including, without limitation, reasonable attorneys' fees and expenses) so incurred by Landlord or Lender, together with interest thereon at the Default Rate from the date of payment or incurring the expense, shall constitute Additional Rent payable by Tenant under this Lease and shall be paid by Tenant to Landlord or Lender (as applicable) on demand. Tenant agrees that, in good order and repair during the entire Term).
event of an emergency, expenditures which might otherwise be unreasonable (esuch as overtime) may nevertheless be reasonable under the circumstances. (c) Tenant shall establish and maintain from time to time replace with other similar operational equipment or parts any reserve accounts reasonably required of the mechanical systems or other equipment included in the Improvements which shall have become worn out, obsolete or unusable for the purpose for which it is intended, been taken by a Superior Mortgagee for deferred maintenance conditions Condemnation as provided in Paragraph 12, or been lost, stolen, damaged or destroyed as provided in Paragraph 14. Tenant shall repair at its sole cost and for capital expenditures expense all damage to the Premises caused by the removal of equipment or any other personal property of Tenant at any time, including upon expiration or termination of the Leased PropertyLease.
Appears in 1 contract
Samples: Lease (Ace Hardware Corp)
Maintenance and Repair. (a) Tenant, Tenant shall at all times maintain each Related Premises and the Adjoining Property in as good repair as each is in on the date hereof and fit to be used for their intended use in accordance with the better of the practices generally recognized as then acceptable by other companies in its expense, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (whether industry or not observed by Tenant with respect to the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements other real properties owned or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof)operated by it, and, in the case of the Equipment, in as good mechanical condition as it was on the later of the date hereof or the date of its installation, except as otherwise provided in ARTICLE XIV, for ordinary wear and tear. Tenant shall promptly make all necessary and appropriate repairs and replacements thereto, Alterations of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shallunforeseen, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances may be required to build or rebuild any improvements on any Leased Property, or comply with the foregoing requirements of this Paragraph 12(a). Landlord shall not be required to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased PropertyAlteration, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Related Premises or Adjoining Property in any way, except as expressly provided herein. and Tenant hereby waives, to the extent permitted by law, the expressly waives any right which may be provided for in any Law now or hereafter in effect to make repairs Alterations at the expense of Lessor Landlord or to require Landlord to make Alterations. Any Alteration made by Tenant pursuant to this Paragraph 12 shall be made in conformity with the provisions of Paragraph 13. Notwithstanding anything to the contrary in this Paragraph 12(a), Tenant shall have until June 30, 2007 to take such actions as may be required to cause the Leased Premises to comply with the provisions of this Paragraph 12(a), provided, however, that (i) any law work that will be completed as a part of the Tenant Improvements will not be required to be completed until July 31, 2008 provided that on or before December 31, 2006 Tenant notifies Landlord in effect writing that such work will be completed as a part of the Tenant Improvements, and (ii) Tenant agrees to use reasonable efforts to in good faith timely address any requirements imposed by any governmental authority, applicable Law or any third party making a claim against Landlord or the applicable Related Premises even if such time period is shorter than the time periods otherwise required under this sentence (unless such claim is being contested in accordance with Paragraph 15(a) hereof), but Tenant shall not be expressly required to take such actions prior to the time periods otherwise set forth above.
(b) If any Improvement hereafter constructed by Tenant or any of its Affiliates (or at the time request of Tenant or any of its Affiliates) shall (i) encroach upon any setback or any property, street or right-of-way adjoining any of the execution Leased Premises, or (ii) violate the provisions of this Lease any Easement Agreement, Tenant shall, within a reasonable time after receiving notice or thereafter enactedotherwise acquiring knowledge thereof, either (A) obtain from all necessary parties waivers or settlements of all claims, liabilities and damages resulting from each such encroachment, violation, hindrance, obstruction or impairment, whether the same shall affect Landlord, Tenant or both, or (B) take such action as shall be reasonably necessary to remove all such encroachments, hindrances or obstructions and to end all such violations or impairments, including, if necessary, making Alterations.
(c) Except as expressly Tenant agrees that (i) within thirty (30) days after the commencement of each Fiscal Year, Tenant shall provide to Landlord a written budget with respect to capital improvements at each Related Premises for the upcoming Fiscal Year, and (ii) within sixty (60) days of the commencement of each Fiscal Year, provide to Landlord a certification comparing the amounts set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for prior Fiscal Year’s budget versus the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair actual amounts spent on each line item during the entire Term)prior Fiscal Year.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
Maintenance and Repair. (a) TenantTenant shall at all times maintain the Leased Premises and the Adjoining Property in as good repair and appearance as they are in on the date hereof and fit to be used for their intended use in accordance with the better of (i) the practices generally recognized as then acceptable by other companies in its industry or (ii) observed by Tenant with respect to the other real properties owned or operated by it, at and, in the case of the Equipment, in as good mechanical condition as it was on the later of the date hereof or the date of its expenseinstallation, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable except for ordinary wear and tear excepted (whether excepted. Tenant shall take every other action necessary or not appropriate for the need for such repairs occurs as a result preservation and safety of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, Premises. Tenant shall promptly make all necessary and appropriate repairs and replacements thereto, Alterations of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shallunforeseen, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances may be required to build or rebuild any improvements on any Leased Property, or comply with the foregoing requirements of this Paragraph 12(a). Landlord shall not be required to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased PropertyAlteration, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any of the Leased Premises or Adjoining Property in any way, except as expressly provided herein. and Tenant hereby waives, to the extent permitted by law, the expressly waives any right which may be provided for in any Law now or hereafter in effect to make repairs Alterations at the expense of Lessor Landlord or to require Landlord to make Alterations. Any Alteration made by Tenant pursuant to any law this Paragraph 12 shall be made in effect at conformity with the time provisions of the execution of this Lease or thereafter enactedParagraph 13.
(cb) Except as expressly set forth in this LeaseIf any Improvement, nothing contained in this Lease and no action now or inaction by Lessor hereafter constructed, shall be construed as (i) constituting encroach upon any setback or any property, street or right-of-way adjoining the consent Leased Premises, (ii) violate the provisions of any restrictive covenant affecting the Leased Premises, (iii) hinder or request obstruct any easement or right-of-way to which any of Lessor, express the Leased Premises is subject or implied(iv) impair the rights of others in, to or under any contractorof the foregoing, subcontractorTenant shall, laborerpromptly after receiving notice or otherwise acquiring knowledge thereof, materialman either (A) obtain from all necessary parties waivers or vendor to settlements of all claims, liabilities and damages resulting from each such encroachment, violation, hindrance, obstruction or for impairment, whether the performance of any labor same shall affect Landlord, Tenant or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereofboth, or (iiB) giving Tenant any righttake such action as shall be necessary to remove all such encroachments, power hindrances or permission obstructions and to contract for end all such violations or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the impairments, including, if necessary, making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofAlterations.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
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Samples: Lease Agreement
Maintenance and Repair. (a) Tenant9.1.1 Lessees, at its their expense, shall will keep each the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Lessees' Personal Property) Property in good order and repair, reasonable wear and tear excepted repair (whether or not the need for such repairs occurs as a result of Tenant’s Lessees' use, any prior use, the elements or the age of such the Leased Property, Tenant’s Personal Property, Property or any portion thereof, or any cause whatever except the act or negligence of Lessor), and, except as otherwise provided in ARTICLE Article XIV, shall promptly with reasonable promptness, make all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition whether or not existing prior to the commencement of the Term (concealed or otherwise). Lessees shall make the capital improvements to the Leased Property agreed to in annual capital budgets to be prepared by Lessees for each Facility and submitted to Lessor by December 1 of the Lease Year preceding the Lease Year to which such budgets are to apply, provided, however, that such budgets shall not limit or restrict Lessees' ability or obligation to make all necessary repairs with respect to extraordinary or unforeseen conditions.
9.1.2 Lessees shall do or use its best efforts to cause others to do all shoring of the Leased Property or adjoining property (whether or not owned by Lessor) or of the foundations and walls of the Leased Improvements, and every other act necessary or appropriate for the preservation and safety thereof, by reason of or in connection with any subsidence, settling or excavation or other building operation upon the Leased Property or any part thereof or upon adjoining property, whether or not Lessor shall, by any legal requirements, be required to take such action or be liable for the failure to do so. All repairs shall, to the extent reasonably achievable, be at least equivalent in quality to the original work, and, subject to the provisions of paragraph 9.1.5, whereby reason of age or condition, such repairs cannot be made to the quality of the original work, the property to be repaired shall be replaced. Lessees will paint the exterior of the Leased Improvements not less than every ten (10) years and will maintain an internal painting program that results in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such workthe interior of each of the Facilities being repainted at least every three (3) years. Tenant Lessees will not take or omit to take any action the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property or any part thereof for its the Primary Intended Use. It is the intention of these provisions that the level of maintenance of each of the Facilities shall be not less than that which would be provided by an operator of first class nursing homes or retirement living facilities making use of the Facilities for the Primary Intended Use. At all times Lessees shall maintain, operate and otherwise manage 42 44 the Facilities on a quality basis and in a manner consistent with the standards of the highest quality of other first class nursing homes and retirement living facilities in the market areas in which the Facilities are located.
(b) 9.1.3 Lessor shall not under any circumstances be required to build or rebuild any improvements on the Leased Property or any Leased Propertypart thereof, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable any Leased PropertyProperty or any part thereof, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or upon any adjoining property, whether to provide lateral or other support for the Leased Property or abatx x xuisance affecting the Leased Property, or otherwise, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any the Leased Property in any way, except as expressly provided herein. Tenant Lessees hereby waiveswaive, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at on the time of the execution of this Lease Effective Date or thereafter hereafter enacted.
(c) Except as expressly set forth in this Lease, nothing 9.1.4 Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, or (ii) giving Tenant Lessees any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, for any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any the Leased Property, or any portion thereof. Lessor shall have the right to give, record and post, as appropriate, notices of non-responsibility under any mechanics' lien laws now or hereafter existing.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
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Maintenance and Repair. (a) TenantLessee, at its expense, shall will keep each the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Lessee's Personal Property) in good order and repair, reasonable wear and tear excepted repair (whether or not the need for such repairs occurs as a result of Tenant’s Lessee's use, any prior use, the elements or elements, the age of such the Leased Property, Tenant’s Personal Property, Property or any portion thereof), ) and, except as otherwise provided in ARTICLE XIVArticles XIV and XV, shall promptly with reasonable promptness, will make all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term of this Lease (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made at least equivalent in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating quality to such the original work. Tenant Lessee will not take or omit to take any action the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property or any part thereof for its the Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any the Leased Property, or to make any repairs, replacements, alterations, restorations restorations, or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, thereto in connection with this Lease, or to maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, or (ii) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any the Leased Property, Property or any portion thereof.
(d) Tenant Unless Lessor shall convey any of the Leased Property to Lessee pursuant to the provisions of this Lease, Lessee will, upon the expiration or prior termination of the this Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such the Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation obligations of Tenant Lessee to maintain the Leased Property in good order and repair during the entire TermTerm of the Lease).
(e) Tenant shall establish , damage caused by the gross negligence or willful acts of Lessor and maintain any reserve accounts reasonably damage or destruction described in Article XIV or resulting from a Taking described in Article XV which Lessee is not required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Propertyterms of this Lease to repair or restore.
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Maintenance and Repair. (a) Subject to Landlord’s right to approve certain Capital Improvements in Section 10.1, Tenant, at its expenseexpense and without the prior consent of Landlord, shall keep each maintain, or cause to be maintained, the Leased Property and every portion thereof, and all private roadways, sidewalks and curbs appurtenant thereto to the Leased Property, and which are under Tenant’s or any subtenant’s control (and Tenant’s Personal Property) in reasonably good order and repair, reasonable wear and tear excepted (repair whether or not the need for such repairs occurs as a result of Tenant’s or any subtenant’s use, any prior use, the elements or the age of such the Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, shall promptly make all reasonably necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, including those necessary to ensure continuing compliance in all material respects with all Legal Requirements, (including, without limitation, all Gaming Regulations and Environmental Laws) (to the extent required hereunder), Insurance Requirements and Property Documents whether now or hereafter in effect, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to or after the commencement of the Term (concealed or otherwise)Effective Date. All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made original work in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such workthe aggregate. Tenant will not take or omit to take any action the taking or omission of which might would reasonably be expected to materially impair the value or the usefulness of the applicable Leased Property or any part thereof or any Capital Improvement thereto for its Primary Intended Use. Tenant shall (i) maintain, or cause to be maintained, Tenant’s Property (except Intellectual Property, which is subject to Section 6.3) (x) in a manner consistent with the Operating Standard throughout the Term, and (y) as necessary for conduct of the Primary Intended Use at the Facility throughout the Term and (ii) not take any action which is intended or designed to materially frustrate, vitiate or reduce the rights of Landlord under Section 36.1. Landlord acknowledges that the condition of the Facility and the other matters described in the first sentence of this Section 9.1 on the Effective Date satisfies the requirements of this Article IX.
(b) Lessor Landlord shall not under any circumstances be required to (i) build or rebuild any improvements on any the Leased Property, or to ; (ii) make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, ; or to (iii) maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor Landlord pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted.
(c) Except as expressly set forth in this LeaseSubject to the specific provisions of Section 41.14, nothing contained in this Lease and no action or inaction by Lessor Landlord shall be construed as (i) constituting the consent or request of LessorLandlord, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, thereof or any Capital Improvement thereto; or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor Landlord in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor Landlord in any the Leased Property, or any portion thereofthereof or upon the estate of Landlord in any Capital Improvement thereto.
(d) Tenant willshall, upon the expiration or prior earlier termination of the Term, vacate and surrender and relinquish in favor of Landlord all rights to the applicable Leased Property (including all Capital Improvements) to Lessor Landlord in the condition in which such Leased Property was originally received from LessorLandlord and Capital Improvements were originally introduced to the Facility, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (tear, subject to casualty and Condemnation as provided in Article XIV and Article XV.
(i) Without limiting Tenant’s obligations to maintain the Leased Property and Tenant’s Property under this Lease, Tenant is required to expend the Required CapEx during each CapEx Testing Period. To enable Landlord to monitor and confirm compliance with the foregoing within thirty (30) days after the end of each calendar year (the “CapEx Certification Date”), commencing with the calendar year ending December 31, 2026, Tenant shall provide Landlord with an Officer’s Certificate (a “CapEx Testing Period Certificate”) certifying in reasonable detail to (A) the aggregate amount expended by Tenant on Qualifying CapEx during the immediately preceding CapEx Testing Period and (B) the actual Net Revenue of the Leased Property during such CapEx Testing Period, including a certification of the information delivered to Landlord substantially in the form attached hereto as Exhibit K, together with evidence satisfactory to Landlord in the reasonable exercise of Landlord’s discretion documenting the amount of the Qualifying CapEx during the CapEx Testing Period. Commencing on January 1, 2027 and subject to the deferral of any Deferred Required CapEx pursuant to Section 7.2(d), Tenant shall be required to deposit, or cause to be deposited, additional funds into the CapEx Reserve in an amount equal to the deficiency between the Required CapEx for a CapEx Testing Period and the aggregate amount expended on Qualifying CapEx during such CapEx Testing Period, with such deposit to occur no later than the date (the “Required CapEx Funding Deadline”) which is the earliest to occur of (x) the date that Tenant delivers a CapEx Testing Period Certificate indicating a deficiency, (y) the CapEx Certification Date if Tenant fails to timely deliver the CapEx Testing Period Certificate, in which event, until a CapEx Testing Period Certificate is actually delivered, Landlord shall determine the deficiency (and the Qualifying CapEx for any period for which a CapEx Testing Period Certificate has not previously been delivered shall be deemed to equal zero), and (z) after delivery of a CapEx Testing Period Certificate, the date that it is reasonably determined by the parties that a CapEx Testing Period Certificate inaccurately reflected that a deficiency did not exist (and in the event of any dispute regarding an alleged deficiency, either party shall be entitled to submit such dispute to the Experts for determination).
(ii) The Parties acknowledge that Tenant’s agreement to satisfy the Required CapEx during the CapEx Testing Period as required in this Lease is a material inducement to Landlord’s agreement to enter into this Lease, and, accordingly, if Tenant fails to expend Qualifying CapEx (or deposit the required funds into the CapEx Reserve) as and when required by this Lease (including for the avoidance of doubt, any failure to expend funds in the CapEx Reserve on Qualifying CapEx by the CapEx Grace Period as provided in Section 9.1(e)(iii)), then the same shall constitute an Event of Default hereunder subject to the notice and cure rights specified in Section 16.1(a)(xv), and without limitation of any of Landlord’s other rights and remedies, Landlord shall have the right in its discretion to exercise its rights and remedies under this Lease, including without limitation, (x) seek the remedy of specific performance to require Tenant to expend the Required CapEx (or to deposit funds into the CapEx Reserve and to utilize funds in the CapEx Reserve on Qualifying CapEx) and (y) withdraw funds from the CapEx Reserve and retain such funds after an Event of Default. Furthermore, for the avoidance of doubt, and without limitation of Guarantor’s obligations under the Guaranty, Tenant acknowledges and agrees that the obligation of Tenant to maintain expend the Leased Property Required CapEx (or deposit, or cause to be deposited, funds into the CapEx Reserve) as provided in good order this Lease in each case constitutes a part of the monetary obligations of Tenant under this Lease and repair during shall be guaranteed by the entire TermGuarantor under the Guaranty (together with all other obligations of Tenant under this Lease).
(eiii) Notwithstanding anything to the contrary set forth in this Lease, if Tenant fails to make at least the amount of expenditures required by this Section 9.1(e)(iii), then, so long as, as of the Required CapEx Funding Deadline, there are CapEx Reserve Funds on deposit in the CapEx Reserve in an aggregate amount at least equal to such deficiency, then Tenant shall not be deemed to be in breach or default of its obligations hereunder to satisfy the Required CapEx, provided that Tenant shall spend such amounts so deposited in the CapEx Reserve on Qualifying CapEx within six (6) months after the Required CapEx Funding Deadline (subject to extension in the event of an Unavoidable Delay during such six (6) month period, on a day-for-day basis, for the same amount of time that such Unavoidable Delay affects Tenant’s ability to perform the required Qualifying CapEx and subject further to any extension as provided for in Section 7.2(d)) (the “CapEx Grace Period”). For the avoidance of doubt, any funds disbursed from the CapEx Reserve and spent on required Qualifying CapEx as described in this Section shall be applied to the Required CapEx for the period for which such funds were deposited (and shall be deemed to be the funds that have been in the CapEx Reserve for the longest period of time) and shall not be applied to the Required CapEx for the subsequent period in which they are actually spent.
(iv) Tenant (x) shall, if required by this Section 9.1(e) and (y) may, at its election, at any other time, deposit, or cause to be deposited, funds (the “CapEx Reserve Funds”) into a segregated Eligible Account held by an Eligible Institution (the “CapEx Reserve”). All interest on CapEx Reserve Funds shall be for the benefit of Tenant and added to and become a part of the CapEx Reserve and shall be disbursed in the same manner as other monies deposited in the CapEx Reserve. Tenant shall be responsible for payment of any federal, state or local income or other tax applicable to the interest earned on the CapEx Reserve Funds credited or paid to Tenant.
(v) Tenant shall establish be entitled to use CapEx Reserve Funds solely for the purpose of paying for (or reimbursing Tenant for) the cost of Qualifying CapEx. So long as no Event of Default exists, Tenant shall be entitled to receive within ten (10) days of submitting a request in writing directly to Landlord a disbursement of CapEx Reserve Funds from the CapEx Reserve to pay for Qualifying CapEx or a reimbursement for Qualifying CapEx, and maintain any reserve accounts reasonably required such request shall specify the amount of the requested disbursement and a general description of the type of Qualifying CapEx to be paid or reimbursed using such CapEx Reserve Funds (a “CapEx Disbursement Request”). So long as no Event of Default exists, any CapEx Reserve Funds remaining in the CapEx Reserve following the satisfaction of the Required CapEx for which such CapEx Reserve Funds were deposited shall be returned by Landlord or the Eligible Institution to Tenant. In the event that as of the expiration or earlier termination of the Lease the Required CapEx for which such CapEx Reserve Funds were deposited has not be satisfied, then Landlord shall be entitled to receive and retain such CapEx Reserve Funds to the extent not satisfied and any remainder shall be released to and retained by Tenant.
(f) Tenant shall deposit, or cause to be deposited, monthly, in arrears, on the first (1st) Business Day of each calendar month, with an Eligible Institution an aggregate amount equal to one and one-half percent (1.5%) of the Net Revenue during the second preceding calendar month (e.g., the FF&E Reserve Funds to be deposited on [●] shall be calculated using Net Revenue for [●]) (the “FF&E Reserve Funds”) into one or more segregated Eligible Accounts held by an Eligible Institution (collectively, the “FF&E Reserve”). All interest on FF&E Reserve Funds shall be for the benefit of Tenant and added to and become a Superior Mortgagee part of the FF&E Reserve and shall be disbursed in the same manner as other monies deposited in the FF&E Reserve. Tenant shall be responsible for deferred maintenance conditions payment of any federal, state or local income or other tax applicable to the interest earned on the FF&E Reserve Funds credited or paid to Tenant. Tenant shall be entitled to use FF&E Reserve Funds solely for the purpose of paying for (or reimbursing Tenant for) the cost of any Qualifying CapEx and FF&E (the “Permitted FF&E Expenditures”). So long as no Event of Default exists, Tenant shall be entitled to receive within ten (10) days of Tenant submitting a request in writing directly to Landlord a disbursement of FF&E Reserve Funds from the FF&E Reserve to pay for capital expenditures at Permitted FF&E Expenditures or a reimbursement for Permitted FF&E Expenditures, and any such request shall specify the Leased Propertyamount of the requested disbursement and a general description of the type of Permitted FF&E Expenditures to be paid or reimbursed using such FF&E Reserve Funds (an “FF&E Disbursement Request”). For the avoidance of doubt, any funds disbursed from the FF&E Reserve and spent on and/or as reimbursement for the costs of Permitted FF&E Expenditures shall be applied toward the minimum Required CapEx set forth in Section 9.1(e). So long as no Event of Default exists and Tenant has satisfied the Required CapEx, any FF&E Reserve Funds remaining in the FF&E Reserve on the expiration or earlier termination of this Lease shall be released to Tenant and Tenant shall be entitled to retain such funds.
(g) Tenant grants to Landlord a first-priority security interest in the CapEx Reserve and all CapEx Reserve Funds and the FF&E Reserve and all FF&E Reserve Funds in each case as additional security for performance of Tenant’s obligations under this Lease during the existence of an Event of Default. Landlord shall have the right to collaterally assign the security interest granted to Landlord in the CapEx Reserve and CapEx Reserve Funds and FF&E Reserve and FF&E Reserve Funds to any Fee Mortgagee. Notwithstanding anything to the contrary contained in Section 9.1(e) and Section 9.1(f), following the execution of this Lease, Landlord, Tenant and the applicable Eligible Institution shall promptly enter into a customary and reasonable deposit account control agreement with respect to the FF&E Reserve and the CapEx Reserve (the “Restricted Reserve Accounts”) which shall provide that (x) Landlord has “control” over the account within the meaning of Section 9-104 of the New York Uniform Commercial Code, (y) the Eligible Institution shall disburse funds to Tenant pursuant to a CapEx Disbursement Request or FF&E Disbursement Request (as applicable) in accordance with Section 9.1(e) and Section 9.1(f) (as applicable) except during a Reserve Control Trigger Period and (z) during the Reserve Control Trigger Period, Eligible Institution shall only make disbursements from the account upon written direction from Landlord. During the Reserve Control Trigger Period, so long as no Event of Default has occurred Landlord shall request disbursements of funds from the Restricted Reserve Accounts to Tenant within five (5) Business Days of (i) Tenant’s delivery of a CapEx Disbursement Request or FF&E Disbursement Request (as applicable) in connection with Section 9.1(e) and Section 9.1(f) (as applicable) and (ii) Tenant’s satisfaction of the Reserve Disbursement Requirements.
Appears in 1 contract
Maintenance and Repair. (a) Tenant, at its expense, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s 's control (and Tenant’s 's Personal Property) in good order and repair, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s 's use, any prior use, the elements or the age of such Leased Property, Tenant’s 's Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE Article XIV, shall promptly make all necessary and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
Samples: Master Lease Agreement (Ventas Inc)
Maintenance and Repair. (a) Tenant, at its expenseexpense and without the prior consent of Landlord, shall keep each (i) maintain the Leased Property and Tenant’s Property, and every portion thereof, and all private roadways, sidewalks and curbs appurtenant thereto to the Leased Property, and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (repair whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such the Leased Property, Property and Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, shall promptly make all reasonably necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, including those necessary to ensure continuing compliance with all Legal Requirements, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement Commencement Date and (ii) make capital expenditures with respect to the Leased Property and Tenant’s Property constituting the installation or restoration and repair or other improvement of items, which installations, restorations and repairs and other improvements are capitalized in accordance with GAAP, in each case, on a cycle consistent with Tenant’s past practices; provided that, in the Term (concealed event an Unavoidable Delay occurs during the time during which Tenant is required to make the foregoing expenditures and such Unavoidable Delay actually prevents or otherwise)delays Tenant’s performance of such installations, restorations, repairs or other improvements, then the relevant period in which Tenant was obligated to perform such installations, restorations, repairs or other improvements shall be extended, on a day-for-day basis, for the same amount of time that such Unavoidable Delay actually delayed Tenant’s ability to perform such installations, restorations, repairs or other improvements. All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike quality of the Facility as of the Effective Date. Tenant agrees to update and first-class manner, in accordance refresh the Facility on a cycle consistent with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such workpast practices at the Facility. Tenant will not take or omit to take any action the taking or omission of which might would reasonably be expected to materially impair the value or the usefulness of the applicable Leased Property or any part thereof or any Capital Improvement thereto for its Primary Intended Use.
(b) Lessor Landlord shall not under any circumstances be required to (i) build or rebuild any improvements on any the Leased Property, or to ; (ii) make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, ; or to (iii) maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor Landlord pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Lease and no action or inaction by Lessor Landlord shall be construed as (i) constituting the consent or request of LessorLandlord, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, thereof or any Capital Improvement thereto; or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor Landlord in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor Landlord in any the Leased Property, or any portion thereofthereof or upon the estate of Landlord in any Capital Improvement thereto.
(d) Tenant willshall, upon the expiration or prior earlier termination of the Term, vacate and surrender and relinquish in favor of Landlord all rights to the applicable Leased Property (including all Capital Improvements, subject to Lessor the provisions of Article X), in each case with respect to the Facility, to Landlord in the condition in which such Leased Property was originally received from LessorLandlord and Capital Improvements were originally introduced to the Facility, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease (including Section 14.2 and 15.1) and except for ordinary wear and tear tear.
(e) From and after a Xxxx Tenant Transfer, and without limiting Tenant’s obligations to maintain the Leased Property and Tenant’s Property under this Lease:
(i) Tenant is required to expend the Required CapEx during each CapEx Testing Period. To enable Landlord to monitor and confirm compliance with the foregoing within thirty (30) days after the end of each calendar year (the “CapEx Certification Date”), commencing with the first full calendar year ending after the Xxxx Tenant Transfer occurs, Tenant shall provide Landlord with an Officer’s Certificate (a “CapEx Testing Period Certificate”) certifying in reasonable detail to (A) the aggregate amount expended by Tenant on Qualifying CapEx during the immediately preceding CapEx Testing Period and (B) the actual Net Revenue of the Leased Property during such CapEx Testing Period, together with evidence reasonably satisfactory to Landlord documenting the amount of the Qualifying CapEx during the CapEx Testing Period.
(ii) Tenant shall be required to deposit, or cause to be deposited, additional funds into the CapEx Reserve in an amount equal to the deficiency between the Required CapEx for a CapEx Testing Period and the aggregate amount expended on Qualifying CapEx during such CapEx Testing Period, with such deposit to occur no later than the date (the “Required CapEx Funding Deadline”) which is the earliest to occur of (x) the date that Tenant delivers a CapEx Testing Period Certificate indicating a deficiency, (y) the CapEx Certification Date if Tenant fails to timely deliver the CapEx Testing Period Certificate, in which event, until a CapEx Testing Period Certificate is actually delivered, Landlord shall determine the deficiency (and the Qualifying CapEx for any period for which a CapEx Testing Period Certificate has not previously been delivered shall be deemed to equal zero), and (z) after delivery of a CapEx Testing Period Certificate, the date that it is reasonably determined by the parties that a CapEx Testing Period Certificate inaccurately reflected that a deficiency did not exist (and in the event of any dispute regarding an alleged deficiency, either party shall be entitled to submit such dispute to the Experts for determination).
(iii) The Parties acknowledge that Tenant’s agreement to satisfy the Required CapEx during the CapEx Testing Period as required in this Lease is a material inducement to Landlord’s agreement to enter into this Lease, and, accordingly, if Tenant fails to expend Qualifying CapEx (or deposit the required funds into the CapEx Reserve) as and when required by this Lease (including for the avoidance of doubt, any failure to expend funds in the CapEx Reserve on Qualifying CapEx by the CapEx Grace Period as provided in Section 9.1(e)(iv)), then the same shall constitute an Event of Default hereunder subject to the notice and cure rights specified in Section 16.1(m), and without limitation of any of Landlord’s other rights and remedies, Landlord shall have the right in its discretion to exercise its rights and remedies under this Lease, including without limitation, (x) seek the remedy of specific performance to require Tenant to expend the Required CapEx (or to deposit funds into the CapEx Reserve and to utilize funds in the CapEx Reserve on Qualifying CapEx) and (y) upon the occurrence and during the continuance of an Event of Default, withdraw funds from the CapEx Reserve and apply such funds to the satisfaction of Tenant’s obligations under this Lease. Furthermore, for the avoidance of doubt, and without limitation of Guarantor’s obligations under the Guaranty, Tenant acknowledges and agrees that the obligation of Tenant to maintain expend the Leased Property Required CapEx (or deposit, or cause to be deposited, funds into the CapEx Reserve) as provided in good order this Lease in each case constitutes a part of the monetary obligations of Tenant under this Lease and repair during shall be guaranteed by the entire TermGuarantor under the Guaranty (together with all other obligations of Tenant under this Lease).
(eiv) Notwithstanding anything to the contrary set forth in this Lease, if Tenant fails to make at least the amount of expenditures required by this Section 9.1(e), then, so long as, as of the Required CapEx Funding Deadline, there are CapEx Reserve Funds on deposit in the CapEx Reserve in an aggregate amount at least equal to such deficiency, then Tenant shall not be deemed to be in breach or default of its obligations hereunder to satisfy the Required CapEx, provided that Tenant shall spend such amounts so deposited in the CapEx Reserve on Qualifying CapEx within six (6) months after the Required CapEx Funding Deadline (subject to extension in the event of an Unavoidable Delay during such six (6) month period, on a day-for-day basis, for the same amount of time that such Unavoidable Delay affects Tenant’s ability to perform the required Qualifying CapEx and subject further to any extension as provided for in Section 7.2(d)) (the “CapEx Grace Period”). For the avoidance of doubt, any funds disbursed from the CapEx Reserve and spent on required Qualifying CapEx as described in this Section shall be applied to the Required CapEx for the period for which such funds were deposited (and shall be deemed to be the funds that have been in the CapEx Reserve for the longest period of time) and shall not be applied to the Required CapEx for the subsequent period in which they are actually spent.
(v) Tenant (x) shall, if required by this Section 9.1(e)(v) and (y) may, at its election, at any other time, deposit, or cause to be deposited, funds (the “CapEx Reserve Funds”) into a segregated eligible account held by an eligible institution (the “CapEx Reserve”). All interest on CapEx Reserve Funds shall be for the benefit of Tenant and added to and become a part of the CapEx Reserve and shall be disbursed in the same manner as other monies deposited in the CapEx Reserve. Tenant shall be responsible for payment of any federal, state or local income or other tax applicable to the interest earned on the CapEx Reserve Funds credited or paid to Tenant.
(vi) Tenant shall establish be entitled to use CapEx Reserve Funds solely for the purpose of paying for (or reimbursing Tenant for) the cost of Qualifying CapEx. So long as no Event of Default exists, Tenant shall be entitled to receive within ten (10) days of submitting a request in writing directly to Landlord a disbursement of CapEx Reserve Funds from the CapEx Reserve to pay for Qualifying CapEx or a reimbursement for Qualifying CapEx, and maintain any reserve accounts reasonably required such request shall specify the amount of the requested disbursement and a general description of the type of Qualifying CapEx to be paid or reimbursed using such CapEx Reserve Funds. So long as no Event of Default exists, any CapEx Reserve Funds remaining in the CapEx Reserve following the satisfaction of the Required CapEx for which such CapEx Reserve Funds were deposited shall be returned by Landlord or the eligible institution to Tenant. In the event that as of the expiration or earlier termination of the Lease the Required CapEx for which such CapEx Reserve Funds were deposited has not be satisfied, then Landlord shall be entitled to receive and retain such CapEx Reserve Funds to the extent not satisfied and any remainder shall be released to and retained by Tenant.
(vii) This Section 9.1(e) shall have no force or effect prior to a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased PropertyXxxx Tenant Transfer.
Appears in 1 contract
Maintenance and Repair. (a) TenantExcept for any Alterations that Tenant is permitted to make hereunder, Tenant shall at its expenseall times, including any Requisition period, put, keep and maintain the Leased Premises, including, without limitation, the roof, landscaping, walls (interior and exterior), footings, foundations and structural components of the Leased Premises, and the Adjoining Property, in good order and repair, and shall promptly make all repairs and replacements (substantially equivalent in quality and workmanship to the original work) of every kind and nature, whether foreseen or unforeseen, which may be required to be made upon or in connection with any of the Leased Premises in order to keep each and maintain the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) Premises in good order and repair, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s 's use, any prior use, the elements or the age of such the Leased PropertyPremises). Tenant shall do or cause others to do all shoring of the Leased Premises or Adjoining Property or of foundations and walls of the Improvements and every other act necessary or appropriate for preservation and safety thereof, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall promptly make all necessary and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement or in connection with any excavation or other building operation upon any of the Term (concealed Leased Premises or otherwise). All repairs Adjoining Property, whether or not Landlord shall, to the extent reasonably achievableby reason of any Legal Requirements or Insurance Requirements, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build take such action or rebuild any improvements on any Leased Property, or be liable for failure to do so. Landlord shall not be required to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Propertyrepair, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any of the Leased Premises or Adjoining Property in any way, except as expressly provided herein. and Tenant hereby waives, to the extent permitted by law, expressly waives the right to make repairs at the expense of Lessor pursuant to the Landlord, which right may otherwise be provided for in any law now or hereafter in effect at the time of the execution of this Lease or thereafter enactedeffect. Tenant shall, in all events, make all repairs for which it is responsible hereunder promptly, and all repairs shall be in a good, proper and workmanlike manner.
(cb) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor If Tenant shall be construed as (i) constituting the consent or request in default under any of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease Section 9, Landlord or Lender may, after ten (10) days notice to Tenant and except for ordinary wear and tear (subject to the obligation failure of Tenant to maintain commence to cure during said period or to diligently prosecute such cure to completion once begun, but immediately upon notice in the Leased Property event of an emergency (that is, imminent danger of injury to persons or property), do whatever is necessary to cure such default as may be reasonable under the circumstances for the account of and at the expense of Tenant. In the event of an emergency, before Landlord or Lender may, in good order addition to all remedies under this Lease, avail itself of its rights under this Section 9(b), Landlord or Lender, as the case may be, shall send written notice to Tenant of the situation by facsimile. All actual and repair during reasonable costs and expenses (including, without limitation, reasonable attorneys' fees and expenses) so incurred by Landlord or Lender, together with interest thereon at the entire Term).
Default Rate from the date of payment of the expense, shall constitute Additional Rent payable by Tenant under this Lease and shall be paid by Tenant to Landlord or Lender (eas applicable) on demand. Landlord and Tenant agree that, in the event of an emergency, expenditures which might otherwise be unreasonable (such as overtime) may nevertheless be reasonable under the circumstances. (c) Tenant shall establish and maintain from time to time replace with other similar operational equipment or parts any reserve accounts reasonably required of the mechanical systems or other equipment included in the Improvements which shall have become worn out, obsolete or unusable for the purpose for which it is intended, been taken by a Superior Mortgagee for deferred maintenance conditions Condemnation as provided in Section 12, or been lost, stolen, damaged or destroyed as provided in Section 14. Tenant shall repair at its sole cost and for capital expenditures at expense all damage to the Leased PropertyPremises caused by the removal of equipment or any other personal property of Tenant at any time, including upon expiration or earlier termination of this Lease.
Appears in 1 contract
Samples: Lease (Beckman Coulter Inc)
Maintenance and Repair. (a) TenantLessee, at its expense, shall will keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s Lessee's control in good order and repair (ordinary wear and Tenant’s Personal Property) tear excepted), and shall make all necessary repairs thereto of every kind and nature whatsoever. To the extent reasonably achievable, all such repairs will be at least equivalent in quality to the original work. Lessee shall at its expense maintain each Leased Property in good order and repair, reasonable wear and tear excepted (whether or not the need for such repairs occurs as excepted, and maintain and improve each Leased Property on a result basis consistent with Lessee's maintenance and improvements of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall promptly make all necessary and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed Hardee's restaurants owned or otherwise). All repairs shalloperated by Lessee and as required by the License Agreements with Hxxxxx'x Food Systems, to the extent reasonably achievableInc. Except as permitted by this Lease, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant Lessee will not take or omit to take any action the taking or omission of which might materially impair the value or the usefulness of the applicable any Leased Property or any part thereof for its Primary Intended Useparts thereof.
(b) Lessor shall not under any no circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations alterations or renewals of any nature or description to the applicable a Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided herein. Tenant Lessee hereby waives, to the fullest extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at on the time of the execution of this Lease Commencement Date or thereafter enacted.
(c) Except as expressly set forth in Unless Lessor shall convey any of the Leased Properties to Lessee pursuant to the provisions of this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant willLessee shall, upon the expiration or prior termination of the TermTerm as to a Leased Property, vacate and surrender the applicable such Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and Lease, except for ordinary wear and tear (subject tear, and with due consideration being given to the obligation age of Tenant to maintain the Leased Property in good order and repair during the entire Term)Improvements at such time.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
Samples: Master Lease Agreement (Boddie Noell Properties Inc)
Maintenance and Repair. (a) Tenant, at its expenseexpense and without the prior consent of Landlord, shall keep each maintain the Leased Property and Tenant’s Property, and every portion thereof, and all private roadways, sidewalks and curbs appurtenant thereto to the Leased Property, and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (repair whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such the Leased Property, Property and Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIVwith reasonable promptness, shall promptly make all reasonably necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, including those necessary to ensure continuing compliance with all Legal Requirements, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)Commencement Date. All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant will not take or omit to take any action the taking or omission of which might would reasonably be expected to materially impair the value or the usefulness of the applicable Leased Property or any part thereof or any Capital Improvement thereto for its Primary Intended Use.
(b) Lessor Lanlord shall not under any circumstances be required to (i) build or rebuild any improvements on any the Leased Property, or to ; (ii) make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, ; or to (iii) maintain any the Leased Property in any way, except as expressly provided herein. Tenant hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor Landlord pursuant to any law in effect at the time of the execution of this Master Lease or thereafter hereafter enacted.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Master Lease and no action or inaction by Lessor Landlord shall be construed as (i) constituting the consent or request of LessorLandlord, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, thereof or any Capital Improvement thereto; or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor Landlord in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor Landlord in any the Leased Property, or any portion thereofthereof or upon the estate of Landlord in any Capital Improvement thereto.
(d) Tenant willshall, upon the expiration or prior earlier termination of the Term, vacate and surrender the applicable Leased Property (including all Capital Improvements, subject to Lessor the provisions of Article X), in each case with respect to such Facility, to Landlord in the condition in which such Leased Property was originally received from LessorLandlord and Capital Improvements were originally introduced to such Facility, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Master Lease and except for ordinary wear and tear tear.
(subject to the obligation of Tenant e) Without limiting Tenant’s obligations to maintain the Leased Property and Tenant’s Property under this Master Lease, within thirty (30) days after the end of each calendar year (commencing with the calendar year ending [December 31, 201_]), Tenant shall provide Landlord with evidence satisfactory to Landlord in good order the reasonable exercise of Landlord’s discretion that Tenant has in such calendar year spent, with respect to the Leased Property and Tenant’s Property, an aggregate amount equal to at least 1% of its actual Net Revenue from the Facilities for such calendar year on installation or restoration and repair during or other improvement of items, which installations, restorations and repairs and other improvements are capitalized in accordance with GAAP with an expected life of not less than three (3) years. If Tenant fails to make at least the entire Term)above amount of expenditures and fails within sixty (60) days after receipt of a written demand from Landlord to either (i) cure such deficiency or (ii) obtain Landlord’s written approval, in its reasonable discretion, of a repair and maintenance program satisfactory to cure such deficiency, then the same shall be deemed an Event of Default hereunder.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
Samples: Merger Agreement (Gaming & Leisure Properties, Inc.)
Maintenance and Repair. (a) TenantTenant shall at all times maintain the Leased Premises and the Adjoining Property in as good repair and appearance as they are in on the date hereof and fit to be used for their intended use in accordance with the better of the practices generally recognized as then acceptable by other companies in its industry or observed by Tenant with respect to the other real properties owned or operated by it, at and, in the case of the Equipment, in as good mechanical condition as it was on the later of the date hereof or the date of its expenseinstallation, shall keep except, in each Leased Property and all private roadwayscase, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable for ordinary wear and tear excepted and insured casualty (whether but excluding any deductible). Tenant shall take every other action necessary or not appropriate for the need for such repairs occurs as a result preservation and safety of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, Premises. Tenant shall promptly make all necessary and appropriate repairs and replacements thereto, Alterations of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shallunforeseen, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances may be required to build or rebuild any improvements on any Leased Propertycomply with the foregoing requirements of this Paragraph 12(a), or including Alterations required in order to insure that the Improvements are year 2000 compliant. Landlord shall not be required to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased PropertyAlteration, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any of the Leased Premises or Adjoining Property in any way, except as expressly provided herein. and Tenant hereby waives, to the extent permitted by law, the expressly waives any right which may be provided for in any Law now or hereafter in effect to make repairs Alterations at the expense of Lessor Landlord or to require Landlord to make Alterations. Any Alteration made by Tenant pursuant to any law this Paragraph 12 shall be made in effect at conformity with the time provisions of the execution of this Lease or thereafter enactedParagraph 13.
(cb) Except as expressly set forth in this LeaseIf any Improvement, nothing contained in this Lease and no action now or inaction by Lessor hereafter constructed, shall be construed as (i) constituting encroach upon any setback or any property, street or right-of-way adjoining the consent Leased Premises, (ii) violate the provisions of any restrictive covenant affecting the Leased Premises, (iii) hinder or request obstruct any easement or right-of-way to which any of Lessor, express the Leased Premises is subject or implied(iv) impair the rights of others in, to or under any contractorof the foregoing, subcontractorTenant shall, laborerpromptly after receiving notice or otherwise acquiring knowledge thereof, materialman either (A) obtain from all necessary parties waivers or vendor to settlements of all claims, liabilities and damages resulting from each such encroachment, violation, hindrance, obstruction or for impairment, whether the performance of any labor same shall affect Landlord, Tenant or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereofboth, or (iiB) giving Tenant any righttake such action as shall be necessary to remove all such encroachments, power hindrances or permission obstructions and to contract for end all such violations or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the impairments, including, if necessary, making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofAlterations.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
Samples: Lease Agreement (PSC Inc)
Maintenance and Repair. (a) TenantUnless caused by Lessee's gross negligence or willful misconduct or that of its employees or agents, at its expenseLessee shall not be required to bear the cost of any Capital Expenditures, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are including any expenditures for items classified as capital items under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall promptly make all necessary and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)U.S. generally accepted accounting principles. All repairs shall, Except to the extent reasonably achievablerequired by Article XXXVIII or elsewhere in this Master Lease, however, nothing herein shall be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating construed to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) require Lessor shall not under any circumstances be required to build or rebuild any improvements improvement on any the Leased Property, or to fund or make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Master Lease, or to maintain any the Leased Property in any way, except . Except as expressly provided herein. Tenant set forth elsewhere in this Master Lease, Lessee hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Master Lease or thereafter hereafter enacted. Lessor shall have the right to give, record and post, as appropriate, notices of nonresponsibility under any mechanic's lien laws now or hereafter existing. Notwithstanding anything in the foregoing to the contrary, to the extent any equipment used in the operation of a Hotel as of the Commencement Date is leased equipment and not owned equipment, Lessor shall have no obligation to acquire such leased equipment or replace such leased equipment with owned equipment during the Term and therefore, to the extent Lessee elects to acquire or replace any such leased equipment with owned equipment, the cost to acquire such owned equipment shall not be charged to Lessor under any of the provisions of this Master Lease or reduce any amounts to which Lessor is entitled under this Master Lease.
(b) Except for conditions caused by Lessor's or its agents' or employees' breach of this Master Lease or their gross negligence or willful misconduct or resulting from Force Majeure, Lessee will keep the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto that are under Lessee's control, including windows and plate glass, parking lots, mechanical, electrical and plumbing systems and equipment (including conduit and ductware), and non-load bearing interior walls, in good order and repair, except for ordinary wear and tear (whether or not the need for such repairs occurred as a result of Lessee's use, any prior use, the elements or the age of the Leased Property, or any portion thereof), and, except as otherwise provided in Article XIV or XV, with reasonable promptness, make all necessary and appropriate repairs thereto of every kind and nature, whether interior or exterior, ordinary or extraordinary, foreseen or unforeseen, except repairs (i) arising by reason of a condition existing prior to the commencement of the Term of this Master Lease (concealed or otherwise), or (ii) capital improvements requiring Capital Expenditures required by any governmental agency having jurisdiction over the Leased Property, or (iii) capital improvements to the structural elements of the Leased Improvements, or (iv) other capital improvements to the Leased Improvements, the cost of which would constitute Capital Expenditures. Lessee shall obtain and maintain in effect maintenance contracts throughout the Term with reputable service firms on all serviceable systems and assets included with the Fixtures which constitute a portion of the Leased Property, unless such services can be competently provided by Lessee's employees, in which event such services may be provided by Lessee's employees. All repairs shall, to the extent reasonably achievable, be at least equivalent in quality to the original work. Lessee will not take or omit to take any action, the taking or omission of which might materially impair the value or the usefulness of a Leased Property or any part thereof for its Primary Intended Use. Notwithstanding any other provision of this Master Lease, however, other than under Articles XIV and XV on the conditions set forth therein, Lessee shall not be required to bear the costs of complying with this Section with respect to Capital Expenditures, including any items classified as capital items under U.S. generally accepted accounting principles, but shall be required to comply with this Section as to such items if and to the extent that amounts are available therefor from the reserve required to be established by Lessor under Article XX or are otherwise provided by Lessor. Lessee agrees to dedicate and spend no less than five percent (5%) of Gross Revenues from each Leased Property on repairs and maintenance of such Leased Property during all Fiscal Years of the Term consistent with the obligation of Lessee for repairs and maintenance set forth in this Section 9.1(b). Lessor shall be responsible for all such Capital Expenditures, including, without limitation, Capital Expenditures required to comply with all Legal Requirements (including, without limitation, all Environmental Laws, the Americans with Disabilities Act and any state or local handicap access laws and regulations and all zoning and land use laws and regulations) and Capital Expenditures required to comply with any Franchise Agreement; subject to Lessor's right to approve the Capital Budget for such Leased Property. If Lessor fails to make any Capital Expenditure required by any Franchisor and such refusal results in a default under or termination of the related Franchise Agreement, Lessor shall be responsible for all damages, termination payments payable by Lessee under the terms of such Franchise Agreement, application fees for a new franchise license reasonably approved by Lessor, increased royalty fees and other costs arising out of such refusal or out of the resulting need to apply for and enter into a substitute franchise license agreement.
(c) Except as expressly set forth in this Lease, nothing Nothing contained in this Master Lease and no action or inaction by Lessor shall be construed as (i1) constituting the consent or request of Lessor, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any the Leased Property or any part thereof, or (ii2) giving Tenant Lessee any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, for any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any the Leased Property, or any portion thereof.
(d) Tenant Lessee will, upon the expiration or prior termination of the Term, vacate and surrender the applicable a Leased Property to Lessor in the condition in which such the Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Master Lease and except for ordinary wear and tear (subject to the obligation of Tenant Lessee to maintain the Leased Property in good order and repair accordance with Section 9.1(b) above during the entire TermTerm of the Lease), or damage by casualty or Condemnation (subject to the obligations of Lessee to restore or repair as set forth in the Lease).
(e) Tenant shall establish and maintain If Lessor fails to make any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions emergency capital expenditures promptly following Notice from Lessee of an emergency situation, then Lessee will have the right, but not the obligation, to make such Capital Expenditures on behalf of and for capital expenditures the account of Lessor, whereupon Lessor shall reimburse Lessee therefor, together with interest thereon at the Leased PropertyOverdue Rate, promptly upon receipt of all documentation evidencing such Capital Expenditure. If Lessor fails to so reimburse Lessee within ten days after written demand therefor, then in addition to such rights and remedies as Lessee may have with respect to such breach, Lessee may offset the amounts owed against the next payments of Rent due to Lessor under this Master Lease.
Appears in 1 contract
Maintenance and Repair. (a) TenantLessee shall, at its sole cost and ---------------------- expense, shall (i) take good care of the Equipment and keep each Leased Property the same and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) parts thereof in good and safe order and repaircondition, reasonable with all mechanical devices, electronic systems and component parts in good working order, normal wear and tear excepted excepted, consistent with maintenance practices used by Lessee with respect to equipment similar in type owned or leased by Lessee and consistent with customary industry standards, and (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall ii) promptly make all necessary and appropriate repairs needed repairs, restorations and replacements thereto, of every kind parts in and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property Equipment or any part thereof thereof, including, without limitation, overhaul of any piece of Equipment requiring overhaul in Lessee's commercially prudent judgment. All such repairs, restorations and replacements of parts shall be of a standard and quality consistent with customary industry standards and sufficient for the proper maintenance and operation of the Equipment and shall be constructed and installed in a good and workmanlike manner in compliance with Legal Requirements and Insurance Requirements. In carrying out its Primary Intended Useobligations under this Section 10.1, Lessee shall not discriminate in any way in the maintenance of the Equipment as compared with other similar equipment owned or leased by Lessee and shall use the Equipment in a manner consistent with sound operating practices thereof.
(b) Lessor shall not under any no circumstances be required to build furnish any services or rebuild any improvements on any Leased Property, facilities with respect to the Equipment or to make any repairs, replacements, alterations, restorations alterations or renewals of any nature or description to the applicable Leased Propertyany Equipment, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, Lease or to maintain any Leased Property Equipment in any way, way except as expressly otherwise provided hereinin the Operative Agreements. Tenant hereby waivesLessor shall not be required to maintain, to the extent permitted by lawrepair or rebuild all or any part of any Equipment, and Lessee waives the right to (i) require Lessor to maintain, repair, or rebuild all or any part of any Equipment, or (ii) make repairs at the expense of Lessor pursuant to any law Legal Requirement, Insurance Requirement, contract, agreement, covenants, condition or restriction at any time in effect at the time of the execution of this Lease or thereafter enactedeffect.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor shall be construed as (i) constituting the consent or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
Samples: Lease (Hanover Compressor Co /)
Maintenance and Repair. (a) Tenant, at its expense, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) Tenant acknowledges that it has received the Premises in good order and repair. Tenant, reasonable at its own expense, will maintain all parts of the Premises in good repair and sound condition, except for ordinary wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s usetear, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE XIV, shall promptly and will take all action and will make all necessary structural and appropriate repairs and replacements thereto, of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shall, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen and unforeseen and ordinary and extraordinary changes and repairs which may be required to keep all parts of the Premises in good repair and sound condition. Landlord shall not be required to maintain, repair or unforeseen, rebuild all or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property in any way, except as expressly provided hereinpart of the Premises. Tenant hereby waives, to the extent permitted by law, waives the right to (i) require Landlord to maintain, repair or rebuild all or any part of the Premises, or (ii) make repairs at the expense of Lessor Landlord pursuant to any law Legal Requirement, contract, agreement, covenant, condition or restriction set forth in effect subsection 2.2(b)(ii), at the any time of the execution of this Lease or thereafter enactedin effect.
(cb) Except as expressly set forth in this LeaseIn the event that all or any part of the Improvements shall encroach upon any property, nothing contained in this Lease and no action street or inaction by Lessor right-of-way adjoining or adjacent to the Premises, or shall be construed as (i) constituting violate the consent agreements or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for conditions affecting the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property Premises or any part thereof, or any Legal Requirements, or shall hinder, obstruct or impair any easement or right-of-way to which the Premises is subject, then, promptly after written request of Landlord (unless such encroachment, violation, hindrance, obstruction or impairment is a Permitted Exception) or of any person so affected, Tenant shall, at its expense, either (i) obtain valid and effective waivers or settlements of all claims, liabilities and damages resulting therefrom, or (ii) giving Tenant any rightmake such changes, power including alteration or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may createremoval, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereof.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant Improvements and take such other action as shall be necessary to maintain the Leased Property in good order and repair during the entire Term)remove or eliminate such encroachments, violations, hindrances, obstructions or impairments, provided that, if Landlord's consent is required for such changes pursuant to this Lease, Landlord's consent shall have been obtained, which consent shall not be unreasonably withheld.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
Maintenance and Repair. (a) Tenant, at its sole cost and expense, shall keep each Leased the Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s 's control (and Tenant’s Personal Property) in good order order, condition and repair, reasonable wear and tear excepted (whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof), repair and, except as otherwise expressly provided to the contrary in ARTICLE Article XIV, XV, or XVI with reasonable promptness, shall promptly make all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, whether interior or exterior, structural or non-structuralnonstructural, ordinary or extraordinary, patent or latent, foreseen or unforeseen unforeseen, or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise)of this Lease and regardless of the cause necessitating repair. Tenant shall also be obligated at its expense to make all repairs, modifications and renovations necessary to comply with all licensing, safety and health and building code, regulations applicable to the Property so that it can be legally operated for its Primary Intended Use. All repairs by Tenant shall, to the extent reasonably achievable, be made at least equal in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating quality to such the original work. Tenant will shall not take or omit to take any action action, the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property all or any part thereof portion of the Property for its the Primary Intended Use. Tenant shall give Landlord ten days' prior Notice of any repair, replacement, modification or renovation pursuant to this Section the cost of which exceeds $250,000 and, prior to commencing any such repair, replacement, modification or renovation, shall provide to Landlord either (i) a lien payment and completion bond in form and substance and issued by a surety reasonably acceptable to Landlord or (ii) a payment and completion guaranty in form and substance and executed by a guarantor reasonably acceptable to Landlord, as Tenant may elect. Notwithstanding the foregoing, if Tenant obtains Landlord's prior written approval of the general contractor performing such repair, replacement, modification or renovation, the foregoing requirements to obtain a completion bond or completion guaranty shall be deemed waived.
(b) Lessor Landlord shall not under any circumstances be required to build or rebuild any improvements on any Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary interior or extraordinaryexterior, structural or non-structural, ordinary or extraordinary, patent or latent, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or nor shall Landlord under any circumstances be required to maintain any Leased the Property in any other way, except as expressly specifically provided herein. Tenant hereby waives, to the fullest extent permitted by law, the right to make repairs at the expense of Lessor Landlord pursuant to any law or equitable principle in effect at the time of the execution of this Lease or thereafter hereafter enacted. Landlord shall have the right to give, record and post, as appropriate, notices of non-responsibility under any mechanic's lien laws now or hereafter existing, and any other notices of a similar nature that Landlord may reasonably elect to give, record or post from time to time during the Term. If reasonably possible, any such notices shall be posted so as not to interfere with Tenant's business.
(c) Except as expressly set forth Nothing contained in this Lease, nothing contained in this Lease and no action or inaction by Lessor Landlord, shall be deemed or construed in any manner as (i) constituting the consent or request of LessorLandlord, express expressed or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property all or any part thereof, portion of the Property or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion a manner as would permit the making of any claim against Lessor in Landlord with respect thereof thereto, or to make any agreement that may create, or in any way may be the basis for, for the assertion of any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor Landlord in any Leased Property, all or any portion thereofof the Property.
(d) Unless Landlord conveys title to any of the Property to Tenant willpursuant to the provisions of this Lease, Tenant shall, upon the expiration or prior earlier termination of the Termthis Lease, vacate and surrender the applicable Leased Property to Lessor Landlord in the condition in which such Leased the Property was originally received from LessorLandlord, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease Lease, and except for ordinary wear and tear (but subject to the obligation of Tenant under this Section to maintain the Leased Property in good order order, condition and repair during the entire Term)Term of this Lease) and except for damage or destruction by casualty or condemnation which Tenant is not required to repair by the provisions of this Lease.
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
Maintenance and Repair. (a) Tenant, Tenant shall at all times maintain each Related Premises in as good repair and appearance as each is in on the date hereof and fit to be used for their intended use in accordance with the better of the practices generally recognized as then acceptable by other companies in its expense, shall keep each Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s control (and Tenant’s Personal Property) in good order and repair, reasonable wear and tear excepted (whether industry or not observed by Tenant with respect to the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements other real properties owned or the age of such Leased Property, Tenant’s Personal Property, or any portion thereof)operated by it, and, in the case of the Equipment, in as good mechanical condition as it was on the later of the date hereof or the date of its installation, except as otherwise provided in ARTICLE XIV, for ordinary wear and tear. Tenant shall take every other action necessary or appropriate for the preservation and safety of each Related Premises. Tenant shall promptly make all necessary and appropriate repairs and replacements thereto, Alterations of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to the commencement of the Term (concealed or otherwise). All repairs shallunforeseen, to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such work. Tenant will not take or omit to take any action the taking or omission of which might materially impair the value or usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) Lessor shall not under any circumstances may be required to build or rebuild any improvements on any Leased Property, or comply with the foregoing requirements of this Paragraph 12(a). Landlord shall not be required to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased PropertyAlteration, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any Leased Property of the Related Premises in any way, except as expressly provided herein. and Tenant hereby waives, to the extent permitted by law, the expressly waives any right which may be provided for in any Law now or hereafter in effect to make repairs Alterations at the expense of Lessor Landlord or to require Landlord to make Alterations, including with respect to the Perris Premises, California Civil Code Sections 1941 an 1942. Any Alteration made by Tenant pursuant to any law in effect at the time of the execution of this Lease or thereafter enacted.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by Lessor Paragraph 12 shall be construed as made in conformity with the provisions of Paragraph 13. If any Improvement, now or hereafter constructed, shall (i) constituting encroach upon any setback or any property, street or right-of-way adjoining any of the consent Leased Premises, (ii) violate the provisions of any restrictive covenant affecting any of the Leased Premises, (iii) hinder or request obstruct any easement or right-of-way to which any of Lessor, express the Leased Premises is subject or implied(iv) impair the rights of others in, to or under any contractorof the foregoing, subcontractorTenant shall, laborerpromptly after receiving notice or otherwise acquiring knowledge thereof, materialman either (A) obtain from all necessary parties waivers or vendor to settlements of all claims, liabilities and damages resulting from each such encroachment, violation, hindrance, obstruction or for impairment, whether the performance of any labor same shall affect Landlord, Tenant or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereofboth, or (iiB) giving Tenant any righttake such action as shall be necessary to remove all such encroachments, power hindrances or permission obstructions and to contract for end all such violations or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the impairments, including, if necessary, making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofAlterations.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
Samples: Lease Agreement (Pw Eagle Inc)
Maintenance and Repair. (a) Tenant9.1.1 Lessee, at its sole expense, shall will, during the Term, keep each the Leased Property and all private roadways, sidewalks and curbs appurtenant thereto and which are under Tenant’s Lessee's control (and Tenant’s Lessee's Personal Property) in good order and repair, reasonable wear and tear excepted repair (whether or not the need for such repairs occurs as a result of Tenant’s Lessee's use, any prior use, the elements or the age of such the Leased Property, Tenant’s Personal Property, or any portion thereof), and, except as otherwise provided in ARTICLE Article XIV, shall promptly with reasonable promptness, make all necessary and appropriate repairs and replacements thereto, thereto of every kind and nature, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen or arising by reason of a condition existing prior to or during the commencement Term, provided, however, that Lessee shall be permitted to prosecute claims against Lessee's predecessors (but not Lessor except as herein provided) in title for (i) breach of any representation or warranty, or (ii) any latent defects in the Term (concealed or otherwise)Leased Property. All repairs shall, shall be at least equivalent in quality to the extent reasonably achievable, be made in good, workmanlike and first-class manner, in accordance with all applicable federal, state and local statutes, ordinances, by-laws, codes, rules and regulations relating to such original work. Tenant Lessee will not take or omit to take any action the taking or omission of which might materially impair the value or the usefulness of the applicable Leased Property or any part thereof for its Primary Intended Use.
(b) 9.1.2 Lessor shall not under any circumstances be required to build or rebuild any improvements on any the Leased Property, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to the applicable Leased Property, whether ordinary or extraordinary, structural or non-structural, foreseen or foreseen/unforeseen, or to make any expenditure whatsoever with respect thereto, in connection with this Lease, or to maintain any the Leased Property in any way, except as expressly provided herein. Tenant Lessee hereby waives, to the extent permitted by law, the right to make repairs at the expense of Lessor pursuant to any law in effect at the time of the execution of this Lease or thereafter hereafter enacted.
(c) Except as expressly set forth in this Lease, nothing contained in this Lease and no action or inaction by . Lessor shall be construed have the right to give, record and post, as appropriate, notices of non-responsibility (ior similar notices) constituting the consent under any mechanics' lien laws now or request of Lessor, express or implied, to any contractor, subcontractor, laborer, materialman or vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction, alteration, addition, repair or demolition of or to any Leased Property or any part thereof, or (ii) giving Tenant any right, power or permission to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit the making of any claim against Lessor in respect thereof or to make any agreement that may create, or in any way be the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Lessor in any Leased Property, or any portion thereofhereafter existing. -13- 9.
(d) Tenant will, upon the expiration or prior termination of the Term, vacate and surrender the applicable Leased Property to Lessor in the condition in which such Leased Property was originally received from Lessor, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Lease and except for ordinary wear and tear (subject to the obligation of Tenant to maintain the Leased Property in good order and repair during the entire Term).
(e) Tenant shall establish and maintain any reserve accounts reasonably required by a Superior Mortgagee for deferred maintenance conditions and for capital expenditures at the Leased Property.
Appears in 1 contract
