Common use of Nature of Return Clause in Contracts

Nature of Return. Unless the Facility is then being transferred to the Lessee or its designee pursuant to the Purchase Option, the Lessee shall, on the Lease Term Expiration Date, and at its own expense, return the Facility to the Lessor by surrendering the same to the possession of the Lessor: (a) free and clear of all Liens, except that the Lessee shall have no responsibility or liability in respect of: (i) the Lessor Liens, (ii) Liens described in clause (a) of the definition of Permitted Liens (other than rights and interests of the Lessee under the Operative Documents) and (iii) Liens described in clause (f) of the definition of “Permitted Liens”; (b) all Alterations shall have been completed in compliance with the requirements of Article IX; and (c) in the condition required by Section 9.1(a), 9.1(c), 9.6, 9.7 and 9.10. All Alterations the title to which has not been vested in the Lessor hereunder that are not removed by the Lessee at or prior to the expiration or earlier termination of this Lease shall be deemed abandoned in place by the Lessee and shall become the property of the Lessor. The Lessee shall have no obligation and shall not be permitted to remove any Alterations (i) required by Applicable Laws or insurance requirements or (ii) included in such Facility at the Advance Date or which constitute Final Completion Work. Except as required under Section 9.2(d) and as permitted under Section 10.1, the Lessee may not remove any Nonseverable Alterations. The Lessee shall assign to the Lessor any and all assignable warranties, licenses and permits relating to the property surrendered to the Lessor which extend beyond the expiration or earlier termination of this Lease, such assignment to be without representation, warranty or recourse of any sort whatsoever.

Appears in 1 contract

Samples: Lease Agreement (Ross Stores Inc)

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Nature of Return. Unless the Facility is Lessor's Interests are then being transferred to the Lessee or its designee pursuant to the Purchase Optionthis Lease, the Lessee shall, on the Lease Term Expiration Dateexpiration or earlier termination of this Lease, and at its own expense, return the Facility Properties to the Lessor by surrendering the same to into the possession of the Lessor: (a) free and clear of all Liens, except that the Lessee shall have no responsibility or liability in respect of: (i) the Lessor Liens, (ii) the Lien of the Mortgage, (iii) Liens described in clause (a) of the definition of Permitted Liens (other than rights and interests of the Lessee under the Operative Documents) ), and (iiiiv) Liens described in clause clauses (f), (g) and (h) of the definition of "Permitted Liens"; (b) all Alterations the Final Completion Work shall have been completed in compliance with the requirements of Article IXcompleted; and (c) in the condition required by Section 9.1(a), 9.1(c), 9.6, 9.7 and 9.10this Lease. All Alterations the title to which has not been vested in the Lessor hereunder that are is not removed by the Lessee at or prior to the expiration or earlier termination of this Lease shall be deemed abandoned in place by the Lessee and shall become the property of the Lessor. The Lessee shall have no obligation and shall not be permitted to remove any Alterations (i) required (at the time of installation in the Properties or at the end of the Lease Term) by Applicable Laws or insurance requirements or (ii) included in such Facility the Properties at the Advance Date or which constitute Final Completion WorkLease Commencement Date. Except as required under Section 9.2(d) and as permitted under Section 10.1, the Lessee may not remove any Nonseverable Alterations. The Lessee shall assign to the Lessor any and all assignable warranties, licenses and permits relating to the property surrendered to the Lessor which extend beyond the expiration or earlier termination of this Lease, such assignment to be without representation, warranty or recourse of any sort whatsoever.

Appears in 1 contract

Samples: Lease Agreement (Goldman Sachs Group Inc)

Nature of Return. Unless the Facility is then being transferred to the Lessee or its designee pursuant to the Purchase OptionOption or the Site Purchase Option or to a third party upon remarketing, the Lessee shall, on the Lease Term Expiration Date, and at its own expense, return the Facility to the Lessor by surrendering the same to the possession of the Lessor: (a) free and clear of all Liens, except that the Lessee shall have no responsibility or liability in respect of: (i) the Lessor Liens, (ii) Liens described in clause (a) of the definition of Permitted Liens (other than rights and interests of the Lessee under the Operative Documents) and (iii) Liens described in clause (f) of the definition of "Permitted Liens"; (b) the Final Completion Work and all Alterations shall have been completed in compliance with the requirements of Article IXcompleted; and (c) in the condition required by Section 9.1(a), 9.1(c), 9.6, 9.7 and 9.10. All Alterations the title to which has not been vested in the Lessor hereunder that are is not removed by the Lessee at or prior to the expiration or earlier termination of this Lease shall be deemed abandoned in place by the Lessee and shall become the property of the Lessor. The Lessee shall have no obligation and shall not be permitted to remove any Alterations (i) required (at the time of installation of the Facility or at the end of the Lease Term) by Applicable Laws or insurance requirements or (ii) included in such Facility at the Advance Date or which constitute Final Completion WorkLease Commencement Date. Except as required under Section 9.2(d) and as permitted under Section 10.1, the Lessee may not remove any Nonseverable Alterations. The Lessee shall assign to the Lessor any and all assignable warranties, licenses and permits relating to the property surrendered to the Lessor which extend beyond the expiration or earlier termination of this Lease, such assignment to be without representation, warranty or recourse of any sort whatsoever.

Appears in 1 contract

Samples: Participation Agreement, Lease Agreement and Construction Agency Agreement (Ross Stores Inc)

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Nature of Return. Unless the Facility a Property is then being transferred to the Lessee or its designee pursuant to the Purchase Option, the Lessee shall, on the Lease Term Expiration Dateexpiration or earlier termination of this Lease, and at its own expense, return the Facility such Property to the Lessor by surrendering the same to into the possession of the Lessor: (a) free and clear of all Liens, except that the Lessee shall have no responsibility or liability in respect of: (i) the Lessor Liens, (ii) the Lien of the Deeds of Trust, (iii) Liens described in clause (a) of the definition of Permitted Liens (other than rights and interests of the Lessee under the Operative Documents) ), and (iiiiv) Liens described in clause (f) of the definition of "Permitted Liens"; (b) all Alterations the Final Completion Work shall have been completed in compliance with the requirements of Article IXcompleted; and (c) in the condition required by Section 9.1(a), 9.1(c), 9.6, 9.7 and 9.10this Lease. All Alterations the title to which has not been vested in the Lessor hereunder that are is not removed by the Lessee at or prior to the expiration or earlier termination of this Lease shall be deemed abandoned in place by the Lessee and shall become the property of the Lessor. The Lessee shall have no obligation and shall not be permitted to remove any Alterations (i) required (at the time of installation in a Property or at the end of the Lease Term) by Applicable Laws or insurance requirements or (ii) included in such Facility Property at the Advance Date or which constitute Final Completion WorkLease Commencement Date. Except as required under Section 9.2(d) and as permitted under Section 10.1, the Lessee may not remove any Nonseverable Alterations. The Lessee shall assign to the Lessor any and all assignable warranties, licenses and permits relating to the property surrendered to the Lessor which extend LEASE AGREEMENT (HGSI) beyond the expiration or earlier termination of this Lease, such assignment to be without representation, warranty or recourse of any sort whatsoever.

Appears in 1 contract

Samples: Lease Agreement (Human Genome Sciences Inc)

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