Mid-Term Refurbishment Sample Clauses
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Mid-Term Refurbishment. Concessionaire acknowledges and agrees that it is tire intent of this Agreement that all Units shall be refurbished, redecorated and updated (the "Mid Term Refurbishment"), and that such Mid-Tenrr Refurbishment be completed by June 30, 2019; provided, however, except to the extent preapproved by Executive Director in writing and in its sole discretion, "Mid-Term Refurbishment" shall not mean maintenance, repair and replacements items that should have been performed pursuant to Section 8 of this Agreement; provided, further. Executive Director shall have discretion to defer the timing of the Mid-Tenn Refurbishment.. Concessionaire further acknowledges and agrees that it is the intent of this Agreement that such Midterm Refurbishment shall be conducted while the Units are opened and operating for business, unless Executive Director determines as part of City's construction approval process, in the exercise of Executive Director's sole discretion, that Concessionaire's proposed scope of work in any Unit is so extensive that such Unit may be closed during its Midterm Refurbishment, in which event Concessionaire shall have the right to close such Unit for the period approved by City in writing as part of City's construction approval process during its Mid-Term Refurbishment, but such closure shall not result in any abatement of any Rent for such Unit.
7.5.1 Mid-Tenn Refurbishment Plan. No later than June 30, 2018, Concessionaire shall prepare and deliver to City for Executive Director's review and approval a Mid-Tenn Refurbishment plan (tire "Mid-Term Refurbishment Plan"), 09-11-14 Retail 1° Amended Concession Agr K.:RT/CDG/Concessions/T4578 Rev/FB/ Concessionaire, LAA-8552 which shall meet the then-current requirements imposed by City as part of City's construction approval process, and shall otherwise include information similar to that contained in the Initial Improvements Plan for the Initial Improvements. Upon receipt and review of such Mid-Tenn Refurbishment Plan by Executive Director and as a part of City's construction approval process, Concessionaire shall incorporate any comments from Executive Director and shall re-submit such Mid-Tenn Refurbishment Plan until it has been approved by Executive Director.
Mid-Term Refurbishment. Tenant shall refurbish, redecorate and modernize the interior and exterior of the public retail area of the Premises after the fifth (5th) anniversary of the Full Rent Commencement Date (the “Mid-Term Refurbishment Date”). On or before the date that is thirty (30) days before the Mid-Term Refurbishment Date, Tenant shall give notice to Director of its intended plan with respect to such mid-term refurbishment requirements. All such mid-term refurbishments will be subject to the requirements of this Lease, including Director’s approval rights under this Section 7. Tenant shall invest thirty-five percent (35%) of the Minimum Investment Amount. Tenant shall complete all such refurbishments on or before the date that is six (6) months after the Mid-Term Refurbishment Date.
Mid-Term Refurbishment. Tenant shall refurbish, redecorate and modernize the interior and exterior of the public retail area of the Premises after the fourth (4th) anniversary of the Full Rent Commencement Date for pre-security locations and after the fifth (5th) anniversary of the Full Rent Commencement Date for post-security locations (the “Mid-Term Refurbishment Date”). On or before the date that is thirty (30) days before the Mid-Term Refurbishment Date, Tenant shall give notice to Director of its intended plan with respect to such mid-term refurbishment requirements. All such mid- term refurbishments will be subject to the requirements of this Lease, including Director’s approval rights under this Section 7. Tenant shall invest thirty five percent (35%) of the Minimum Investment Amount. Tenant shall complete all such refurbishments on or before the date that is six (6) months after the Mid- Term Refurbishment Date. The Director shall be authorized to waive, reduce or delay such requirement provided Director is satisfied that Tenant has developed and shall implement a maintenance program necessary or appropriate to keep the facilities in good condition throughout the term of the Lease.Upon completion of the mid-term refurbishment, Tenant shall provide City with documentation of expenses as specified in Section 7.1 [Minimum Investment] for mid-term refurbishment investment.
Mid-Term Refurbishment. (a) Tenant shall refurbish, redecorate and modernize the interior and exterior of the public retail area of the Premises after the sixth (6th) anniversary of the Full Rent Commencement Date (the “Mid-Term Refurbishment Date”). On or before the date that is thirty (30) days before the Mid- Term Refurbishment Date, Tenant shall give notice to Director of its intended plan with respect to such mid-term refurbishment requirements. All such mid-term refurbishments will be subject to the requirements of this Lease, including Director’s approval rights under this Section 7. Tenant shall complete all such refurbishments on or before the date that is six (6) months after the Mid-Term Refurbishment Date.
(b) The Airport Director shall be authorized to waive, reduce or delay such requirement provided Director is satisfied that Tenant has developed and shall implement a maintenance program necessary or appropriate to keep the facilities in good condition throughout the term of the Lease.
(c) Upon completion of the mid-term refurbishment, Tenant shall provide City with documentation of expenses as specified in Section 7.1 [Minimum Investment] for mid-term refurbishment investment.
Mid-Term Refurbishment. Tenant must budget and expend such funds as necessary to undertake a mid-Term refurbishment of each Retail Space during or about the middle of the Term in order to ensure that each Retail Space presents a first-class appearance to the public. The minimum expenditure does not include financing costs, interest, and inventory or intracompany charges of the Tenant. The scope and extent of the renovation, remodeling, and upgrade and\or redecorating for such mid-Term refurbishment shall be jointly determined by the Commissioner and Tenant.
Mid-Term Refurbishment. A mid-term refurbishment minimum investment of $75.00 per square foot at each Concession Facilities Space location is also required. This is a firm commitment to reinvest in the facilities and replace worn and damaged finishes. The refurbishment minimum is not for ordinary or deferred maintenance, which is an ongoing requirement, but is a commitment to renew and replace worn surfaces such that it would constitute additional capital investment. The refurbishment requirement, which is an obligation to be satisfied by the end of the sixth Contract Year of the Initial Term, is subject to prior consultation and approval by the AUTHORITY. Notwithstanding the foregoing mid-term reinvestment requirement, CONCESSIONAIRE shall repaint or refinish, at CONCESSIONAIRE’S own cost, high traffic areas within the Premises subject to greater than normal wear on a schedule to be specified by CONCESSIONAIRE, or as may be required by the Director. All Tenant Improvements and Personal Property that become worn, chipped, dented, gouged or otherwise damaged, shall be repaired or replaced by CONCESSIONAIRE, at CONCESSIONAIRE’S sole expense, as soon as reasonably possible.
Mid-Term Refurbishment. After the commencement of the fifth year, and before the end of the sixth year of the term hereof, Concessionaire shall refurbish the facilities. Said refurbishing shall include, but shall not be limited to, all refinishing, repair, replacement, redecorating and painting necessary to keep said areas in first class condition. Concessionaire shall not expend less than $209,750 for the required mid-term refurbishment. Concessionaire shall provide the City with receipts and other suitable documentation of the aforementioned required expenditure as furthered referenced in Section 8.19. Concessionaire shall pay to City an amount equal to the shortfall, if any, between said refurbishment amount and its actual investment as of the last day of the sixth year hereof Said payment shall be made on or before the thirtieth day of the seventh year hereof The amount spent for mid-term refurbishment shall be exclusive of any amount spent for normal repair and maintenance as determined in the sole discretion of the Aviation Director. Should the costs to make the referenced improvements exceed the minimum required amount as stated above, said costs shall be the sole responsibility of the Concessionaire.
Mid-Term Refurbishment. [Left blank by agreement of the parties.]