Common use of Modernization Clause in Contracts

Modernization. 1. Because business advances, and because society changes, and methods of doing business change, it is the duty of Licensee to modernize, refurbish, the building, equipment, signage, and all other items as may be reasonably necessary to permit the business to conform to the standards then existing, and to cause such repairs or remodeling, at his expense as are necessary to keep Licensee in compliance with all of the terms and conditions of this Agreement. Failure to do so will be regarded as a breach of this Agreement.