Common use of Modification of Project Clause in Contracts

Modification of Project. (a) As long as no event of default exists hereunder, the Company shall have the right at any time and from time to time during the Term hereof to undertake any of the following: (i) The Company may, at its own expense, add to the Project any real and personal property as the Company in its discretion deems useful or desirable. (ii) In any instance where the Company in its discretion determines that any items included in the Project have become inadequate, obsolete, worn out, unsuitable, undesirable, or unnecessary for operations at the Project, the Company may remove such items or portions from the Project and sell, trade in, exchange, or otherwise dispose of them (as a whole or in part) without the consent of the County; as such may be permitted under the Simplified FILOT Act. (iii) The Company may, at any time in its discretion by written notice to the County, remove any real or personal property from the Negotiated FILOT (as defined in Section 5.01) set forth in this Agreement, and thereafter such property will be considered Non-Qualifying Property and will be subject to FILOT Payments as set forth in Section 5.01(b)(i) hereof.

Modification of Project. (a) As long as no event of default exists hereunder, the Company shall have the right at any time and from time to time during the Term hereof to undertake any of the following: (i) The Company may, at its own expense, add to the Project any real and personal property as the Company in its discretion deems useful or desirable. (ii) In any instance where the Company in its discretion determines that any items included in the Project have become inadequate, obsolete, worn out, unsuitable, undesirable, or unnecessary for operations at the Project, the Company may remove such items or portions from the Project and sell, trade in, exchange, or otherwise dispose of them (as a whole or in part) without the consent of the County; as such may be permitted under the Simplified FILOT Act. (iii) The Company may, at any time in its discretion by written notice to the County, remove any real or personal property from the Negotiated FILOT (as defined in Section 5.01) set forth in this Agreement, and thereafter such property will be considered Non-Qualifying Property and will be subject to FILOT Payments as set forth in Section 5.01(b)(i5.01(b) hereof.

Modification of Project. (a) As long as no event Event of default Default exists hereunder, the Company shall have the right at any time and from time to time during the Term hereof to undertake any of the following: (i) The Company may, at At its own expense, add to the Project any real and personal property as the Company Company, in its discretion discretion, deems useful or desirable. (ii) In any instance where the Company Company, in its discretion sole discretion, determines that any of its items included in the Project have become inadequate, obsolete, worn out, unsuitable, undesirable, or unnecessary for operations at the Project, the Company may remove such items or portions thereof from the Project and sell, trade in, exchange, or otherwise dispose of them (as a whole or in part) without the consent of the County; as such may be permitted under the Simplified FILOT Act. (iii) The Company may, at At any time in its discretion the Company’s discretion, by written notice to the County, remove any of its real or personal property from the Negotiated FILOT (as defined in Section 5.015.01 hereof) set forth in this Agreement, and thereafter such property will be considered Non-Qualifying Property and will be subject to FILOT Payments as set forth in Section 5.01(b)(i) hereof.

Modification of Project. (a) As long as no event Event of default Default exists hereunder, each of the Company and the Tenant Sponsor Affiliate shall have the right at any time and from time to time during the Term hereof to undertake any of the following: (i) The Company may, at its At their own expense, add to the Project any real and personal property as the Company they, in its discretion deems their discretion, deem useful or desirable. (ii) In any instance where the Company they, in its discretion determines their sole discretion, determine that any of their items included in the Project have become inadequate, obsolete, worn out, unsuitable, undesirable, or unnecessary for operations at the Project, the Company they may remove such items or portions thereof from the Project and sell, trade in, exchange, or otherwise dispose of them (as a whole or in part) without the consent of the County; as such may be permitted under the Simplified FILOT Act. (iii) The Company may, at At any time in its discretion their respective discretion, by written notice to the County, remove any of their real or personal property from the Negotiated FILOT (as defined in Section 5.015.01 hereof) set forth in this Agreement, and thereafter such property will be considered Non-Qualifying Property and will be subject to FILOT Payments as set forth in Section 5.01(b)(i) hereof.

Modification of Project. (a) As long as no event Event of default Default exists hereunder, each of the Company and the Landlord shall have the right at any time and from time to time during the Term hereof to undertake any of the following: (i) The Company may, at its At their own expense, add to the Project any real and personal property as the Company they, in its discretion deems their discretion, deem useful or desirable. (ii) In any instance where the Company they, in its discretion determines their sole discretion, determine that any of their items included in the Project have become inadequate, obsolete, worn out, unsuitable, undesirable, or unnecessary for operations at the Project, the Company they may remove such items or portions thereof from the Project and sell, trade in, exchange, or otherwise dispose of them (as a whole or in part) without the consent of the County; as such may be permitted under the Simplified FILOT Act. (iii) The Company may, at At any time in its discretion their respective discretion, by written notice to the County, remove any of their real or personal property from the Negotiated FILOT (as defined in Section 5.015.01 hereof) set forth in this Agreement, and thereafter such property will be considered Non-Qualifying Property and will be subject to FILOT Payments as set forth in Section 5.01(b)(i) hereof.

Modification of Project. (a) As long as no event of default exists hereunder, the Company shall have the right at any time and from time to time during the Term hereof to undertake any of the following: (i) The Company may, at its own expense, add to the Project any real and personal property as the Company in its discretion deems useful or desirable. (ii) In any instance where the Company in its discretion determines that any items included in the Project have become inadequate, obsolete, worn out, unsuitable, undesirable, or unnecessary for operations at the Project, the Company may remove such items or portions from the Project and sell, trade in, exchange, or otherwise dispose of them (as a whole or in part) without the consent of the County; as such may be permitted under the Simplified FILOT Act. (iii) The Company may, at any time in its discretion by written notice to the County, remove any real or personal property from the Negotiated FILOT (as defined in Section 5.01pursuant to Sections 5.01(b)(ii) set forth in and 5.01(c) of this Agreement, and thereafter such property will be considered Non-Qualifying Property and will be subject to FILOT Payments as set forth in Section 5.01(b)(i) hereof.