Performance of Repairs and Restoration Sample Clauses

Performance of Repairs and Restoration. All repairs and restoration shall be performed in accordance with the provisions of Article 12 of this Lease (as applicable). Except as otherwise provided herein, all insurance proceeds and all Awards received by or payable to any party with respect to any casualty or to the repairs needed to repair the Premises following a partial Appropriation (except proceeds of insurance carried by sublessees under Permitted Subleases covering loss or damage of their personal property), less actual costs and expenses incurred in connection with the collection thereof, shall be applied to the costs of repair and restoration (or demolition) of the Premises and the Improvements in accordance with the provisions of this Article 22 and in compliance with Article 12 (as applicable). All such insurance proceeds shall be held by Lessee (if and for so long as Lessee is 3401 Hillview LLC or an Affiliate thereof, and otherwise such proceeds shall be held by a trust company reasonably satisfactory to Lessor and Lessee), or at the request of the holder of any Leasehold Mortgage, by a trust company reasonably satisfactory to Lessor and such holder. Insurance proceeds shall be made available to Lessee in monthly draws during the repair of the Premises, which shall be available upon submission by Lessee of written request accompanied by reasonably detailed invoices and customary lien releases from Lessee’s contractor. Lessee shall pay any amount by which the Award or insurance proceeds received by Lessee as a result of the applicable damage or Appropriation, less the costs and expenses incurred in connection with the collection thereof, are insufficient to pay the entire cost of such repair and restoration.
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Performance of Repairs and Restoration. 1794 All repairs and restoration shall be performed in accordance 1795 with the provisions of Section 9 of this Lease (as applicable). 1796 Except as otherwise provided herein, all insurance proceeds, 1797 less actual costs and expenses incurred in connection with the 1798 collection thereof, shall be applied to the costs of repair and 1799 restoration of the Premises and the improvements in accord- 1800 ance with the provisions of this 1801 1803 1804 Section 18 and in compliance with Section 9 (as applicable). 1805 All such insurance proceeds shall be held by Landlord, or at 1806 the request of the holder of any mortgagor, by a trust company 1807 reasonably satisfactory to Landlord and such holder. Insurance 1808 proceeds shall be made available to Tenant in monthly draws 1809 during the repair of the Premises, which shall be available up- 1810 on submission by Tenant of written request accompanied by 1811 reasonably detailed invoices and customary lien releases from 1812 Tenant’s contractor. Tenant shall pay any amount by which 1813 the insurance proceeds received as a result of such damage, 1814 less the costs and expenses incurred in connection with the 1815 collection thereof, are insufficient to pay the entire cost of 1816 such repair and restoration. 1817 18.3 Option to Terminate Upon Damage or De- 1818 struction. In the event of (a) any damage to or destruction of 1819 the Premises or the improvements or any portion thereof at 1820 any time during the Term and the cost to repair and restore the 1821 same to substantially the same condition as existed immediate- 1822 ly prior to such occurrence is reasonably estimated to exceed 1823 twenty-five percent (25%) of full replacement cost of all im- 1824 provements on the Premises and is not covered by any insur- 1825 ance obtained or required to be obtained by Tenant pursuant to 1826 Article 13, or (b) any damage to or destruction of the Premises 1827 or the improvements occurring during the last twelve months 1828 of the Term, then Tenant shall have the option to terminate 1829 this Lease, exercisable as provided below.
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Performance of Repairs and Restoration. All repairs and restoration shall be performed in accordance with the provisions of Article 11 of this Lease (as applicable). Except as otherwise provided herein, all insurance proceeds and all Awards received by or payable to any party with respect to any casualty or to the repairs needed to repair the Premises following a partial Appropriation (except proceeds of insurance carried by sublessees under Permitted Subleases covering loss or damage of their personal property), less actual costs and expenses incurred in connection with the collection thereof, shall be applied to the costs of repair and restoration of the Premises and the Improvements in accordance with the provisions of this Article 21 and in compliance with Article 11 (as applicable). All such insurance proceeds shall be made available to Lessee in monthly draws during the repair of the Premises, which shall be available upon submission by Lessee of written request accompanied by reasonably detailed invoices and customary lien releases from Lessee’s contractor. Lessee shall pay any amount by which the Award or insurance proceeds received as a result of such damage or Appropriation, less the costs and expenses incurred in connection with the collection thereof, are insufficient to pay the entire cost of such repair and restoration.
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Performance of Repairs and Restoration. All repairs and restoration shall be performed in accordance with the provisions of Section 9 of this Lease (as applicable). Except as otherwise provided herein, all insurance proceeds, less actual costs and expenses incurred in connection with the collection thereof, shall be applied to the costs of repair and restoration of the Premises and the improvements in accordance with the provisions of this Section 18 and in compliance with Section 9 (as applicable). All such insurance proceeds shall be held by Landlord, or at the request of the holder of any mortgagor, by a trust company reasonably satisfactory to Landlord and such holder. Insurance proceeds shall be made available to Tenant in monthly draws during the repair of the Premises, which shall be available upon submission by Tenant of written request accompanied by reasonably detailed invoices and customary lien releases from Tenant’s contractor. Tenant shall pay any amount by which the insurance proceeds received as a result of such damage, less the costs and expenses incurred in connection with the collection thereof, are insufficient to pay the entire cost of such repair and restoration.
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Related to Performance of Repairs and Restoration

  • Repair and Restoration If the Mortgaged Property can be repaired or restored to substantially the same condition as existed prior to the event causing such damage or destruction, or the effect of the combination can be relieved so that the status of the Mortgaged Property will be restored to substantially the same status as existed prior to the event causing such condemnation, without, in either case, jeopardizing repayment of the principal of and interest on the Indebtedness, and Grantor elects to repair and restore the Mortgaged Property, the Proceeds will be deposited with the Beneficiary and held in a special escrow account of the Beneficiary to be applied to repair, replace, or improve the Mortgaged Property. Proceeds held in such escrow account held by the Beneficiary shall be disbursed by the Beneficiary for the repair, replacement, or improvement of the Mortgaged Property upon receipt by the Beneficiary from the Grantor of (A) an architect's certificate with each draw submitted by Grantor stating that the repairs, replacements, or improvements completed through the date of such draw are practical and necessary, have been completed in accordance with plans and specifications previously provided to the Beneficiary, and that such repairs, replacements, or improvements comply with all applicable statutes, codes, and regulations; (B) a certificate stating that sufficient moneys are available to cause such repair, restoration, replacements, or improvements; (C) requisitions and certificates from the Grantor in the form reasonably acceptable to the Beneficiary; (D) applicable lien waivers; and (E) an endorsement to the title insurance policy insuring the continued priority of the lien of this Mortgage. The Beneficiary shall retain ten percent (10%) of the requested disbursements to be disbursed upon final completion of the repairs, replacements, or improvements as certified by an independent architect and receipt of waivers of liens and an endorsement to the title policy for the Mortgaged Property insuring the continued priority of the lien of this Mortgage. If at any time during the restoration, the Proceeds are less than the estimated cost to repair the Mortgaged Property, the Grantor shall pay an amount equal to the shortfall. The Grantor may rely upon the advice of architects, engineers, accountants, financial consultants, attorneys, or other experts selected by it in the foregoing matters. Any Proceeds in excess of the amount required to repair and restore the Mortgaged Property under this Alternative A, at the direction of the Grantor, shall either be used to prepay the Indebtedness or disbursed to the Grantor.

  • Completion of Repairs Borrower will commence any Repairs as soon as practicable after the date of this Loan Agreement and will diligently proceed with and complete such Repairs on or before the Completion Date. All Repairs and Capital Replacements will be completed in a good and workmanlike manner, with suitable materials, and in accordance with good building practices and all applicable laws, ordinances, rules, regulations, building setback lines and restrictions applicable to the Mortgaged Property. Borrower agrees to cause the replacement of any material or work that is defective, unworkmanlike or that does not comply with the requirements of this Loan Agreement, as determined by Lender.

  • Performance of Replacements (a) Borrower shall make Replacements when required in order to keep the Property in condition and repair consistent with other comparable properties in the same market segment in the metropolitan area in which the Property is located, and to keep the Property or any portion thereof from deteriorating. Borrower shall complete all Replacements in a good and workmanlike manner as soon as practicable following the commencement of making each such Replacement.

  • Performance of Landlords Work (a) Definition of Landlord’s Work. As used herein, “

  • Maintenance and Repairs by Tenant Tenant shall, at Tenant’s sole expense, promptly and throughout the Term, maintain, repair, and replace the Premises, including but not limited to the roof, parking lot and HVAC system, in a good and clean condition comparable to other similar commercial buildings in the Las Vegas, Nevada metropolitan area, and in compliance with all applicable laws, and will suffer no active, passive or permissive waste or injury thereof or thereto. Tenant shall give Landlord prompt notice of any specific needed repairs, replacements or maintenance which will (1) affect the exterior walls, exterior doors, windows of the building, the structural parts of the building, the roof of the building, or the parking areas, or (2) exceed Ten Thousand and 00/100 Dollars ($10,000.00) (collectively “Material Repairs”). Tenant shall provide Landlord copies of plans and specifications for such Material Repairs, as required by Landlord. Landlord shall then have twenty (20) days after receipt of such plans and specifications to approve or reject the same by delivering written notice to Tenant. If Landlord fails to respond within such twenty-day period, Landlord shall be deemed to have approved such plans and specifications. All Material Repairs to the Premises shall be performed by Tenant using contractors or mechanics approved by Landlord in accordance with plans and specifications approved by Landlord, and shall be at Tenant’s sole expense and at such times and in such manner as Landlord may approve. Any mechanics’ or materialmen’s lien for which Landlord has received a notice of intent to file or which has been filed against the Premises arising out of work done for, or materials furnished to Tenant, shall be discharged, bonded over, or otherwise satisfied by Tenant within ten (10) days following the earlier of the date Landlord receives (1) notice of intent to file a lien or (2) notice that the lien has been filed. If Tenant fails to discharge, bond over, or otherwise satisfy any such lien, Landlord may do so at Tenant’s expense, and the amount expended by Landlord, including reasonable attorney’s fees and costs, shall be due and payable immediately with interest thereon at the Interest Rate from the date of the payment by Landlord until Landlord receives payment from Tenant. If Tenant fails to comply with its maintenance, repair, or replacement obligations in this Section 5.3, Landlord may, in its sole discretion and in addition to any other remedies provided herein, perform said maintenance, repair, or replacement. Any sums so paid by Landlord, together with reasonable attorney’s fees and costs, shall be deemed to be additional Rent owing by Tenant to Landlord and shall be due and payable immediately with interest thereon at ten percent (10%) per annum from the date of the payment by Landlord until Landlord receives payment from Tenant.

  • Performance of Work The Work shall be constructed in a good and workmanlike manner substantially in accordance with the Construction Plans. The Work shall be subject, at the option of Landlord, to the inspection of Landlord, Landlord's Architect and Landlord's General Contractor from time to time, during the period in which the Work is being performed, provided that such inspection does not unreasonably interfere with the completion of the Work. If such inspections reveal that any of the Work is not being constructed substantially in conformance with the provisions of this Agreement or the Final Plans, Tenant at its expense shall correct same forthwith. Only new, first class materials shall be used in the performance of the Work. At all times during the construction of the Work, it shall be Tenant's responsibility to cause each of Tenant's contractors and subcontractors to maintain protection of the Premises in such a manner as to prevent any damage to the Work, or to adjacent property and improvements by reason of the performance of the Work. Tenant's contractor and subcontractors shall properly secure the Premises, including, to the extent required, the furnishing of temporary guard rails and barricades. Landlord for good cause shall have the right to require Tenant to terminate any construction work at any time being performed by or on behalf of Tenant in the Premises, and to require that any contractor or subcontractor, or any employee of same, leave the Building. Upon written notification, setting forth in reasonable detail such good cause, from Landlord to Tenant to cease any work, Tenant shall forthwith remove from the Premises all agents, employees and contractors of Tenant performing such work until such time as Landlord shall have given its written consent for the resumption of such construction work (such consent not to be unreasonably withheld or delayed), and Tenant shall have no claim for damages of any nature whatsoever against Tenant in connection therewith.

  • Maintenance of REIT Status In the case of the Parent Guarantor, at all times, conduct its affairs and the affairs of its Subsidiaries in a manner so as to continue to qualify as a REIT for U.S. federal income tax purposes.

  • Continuous Improvement 3.1 The Supplier shall adopt a policy of continuous improvement in relation to the Services pursuant to which it will regularly review with the Authority the Services and the manner in which it is providing the Services with a view to reducing the Authority's costs (including the Framework Prices), the costs of Contracting Bodies and/or improving the quality and efficiency of the Services. The Supplier and the Authority will provide to each other any information which may be relevant to assisting the objectives of continuous improvement and in particular reducing costs.

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