Possession and Use of the Property. (a) At all times during the Term with respect to the Property, such Property shall be a Permitted Facility and shall be used by Lessee in the ordinary course of its business; provided, however, that nothing herein -------- ------- or in any other Operative Agreement shall be construed to require Lessee to operate the Property. Subject to the terms of Article XIII relating to permitted contests, Lessee shall pay, or cause to be paid during the Term, all charges and costs required in connection with the use of the Property as contemplated by this Lease. Lessee shall not commit or permit any waste of the Property or any part thereof.
(b) The address stated in Section 6.2(i) of the Participation Agreement is the principal place of business and chief executive office of Lessee (as such terms are used in Section 9-103(3) of the Uniform Commercial Code of any applicable jurisdiction), and Lessee will provide Lessor with prior written notice of any change of location of its principal place of business or chief executive office. Regarding the Property, the Lease Supplement shall correctly identify the initial location of the related Equipment (if any) and Improvements (if any) and contain an accurate legal description for the related parcel of Land or a description of the Ground Lease. The Equipment and Improvements respecting the Property will be located only at the location identified in the Lease Supplement.
(c) Lessee will not attach or incorporate any item of Equipment to or in any other item of equipment or personal property or to or in any real property in a manner that could give rise to the assertion of any Lien on such item of Equipment by reason of such attachment or the assertion of a claim that such item of Equipment has become a fixture and is subject to a Lien in favor of a third party that is prior to the Liens thereon created by the Operative Agreements.
(d) On or prior to the Rent Commencement Date for the Property, Lessor and Lessee shall execute a Lease Supplement (or, pursuant to Section 2.4, an amended and restated Lease Supplement) in regard to such Property which shall contain an Equipment Schedule that has a general description of the Equipment which shall comprise the Property, a schedule that has a general description of the Improvements which shall comprise the Property and a legal description of the Land subject to the Ground Lease upon which such Improvements will be constructed, all of which shall be leased or subleased hereunder as o...
Possession and Use of the Property. The Property shall be used as a ---------------------------------- managed residential community with assisted living services in a manner consistent with the standards applicable to properties of a similar nature in the geographic area in which the Property is located and in any event not less than the standards applied by Affiliates of the Lessee for other comparable properties of the Lessee or such Affiliates in such geographic area. The Lessee shall pay, or cause to be paid, all charges and costs required in connection with the use of the Property as contemplated by this Lease. The Lessee shall not intentionally commit or permit any waste of the Property or any part thereof.
Possession and Use of the Property. 7.1 The Property must not be let or occupied by any person without the Council’s prior written consent, which will not be unreasonably withheld provided that the Property is to be occupied upon an assured shorthold tenancy which enables an order for possession to be obtained, after the expiry of an initial term of no more than 6 months, upon one month’s written notice.
Possession and Use of the Property. The Property shall be used in ---------------------------------- accordance with all applicable Legal Requirements. Lessee shall pay, or cause to be paid, all charges and costs required in connection with the use of the Property. Lessee shall not commit or permit any waste of the Property or any part thereof.
Possession and Use of the Property. The Property shall be used in a manner consistent with the Agency Agreement and, after the Completion Date, as office buildings and in compliance with the Ground Lease. Lessee shall pay, or cause to be paid, all charges and costs required in connection with the use of the Property. Lessee shall not commit or permit any waste of the Property or any part thereof.
Possession and Use of the Property. The Property must not be let or occupied by any person without the local authority’s prior written consent, which will not be unreasonably withheld provided that the property is to be occupied upon an assured shorthold tenancy which enables an order for possession to be obtained, after the expiry of an initial term of no more than 6 months, upon one month’s written notice]. If satisfactory evidence is not provided to the local authority that the Property is adequately insured against all usual risks, the local authority may itself insure the Property under an appropriate policy of insurance and against all usual risks unless there are reasonable grounds for concluding that the site value of the Property, disregarding any building on the property, is adequate security for the Debt, together with a reasonable amount by which it is anticipated that the Debt will increase in the foreseeable future. The local authority will give you notice of any Costs reasonably incurred by the local authority in so insuring the Property and if the borrower does not reimburse the amount of those Costs to the local authority within 28 days after such notice is given, the amount of those Costs will be added to the Debt and interest will be charged on the amount of those Costs in accordance with term above in respect of the period starting on the 29th day after notice of the Costs is given to you, or, if later than the 29th day after advance notice is given that such an item, or items, of Costs will be incurred, the date on which such item, or each such item of Costs is incurred . The local authority, or any appropriately qualified person acting on behalf of the local authority, may, no more than once a year, and upon giving at least 14 days’ notice to the borrower or other owner of the Property, inspect the Property for the purposes of ascertaining whether the Property is being maintained in reasonable condition and/or whether there are works of maintenance and/or repair which should be undertaken to the Property in order to preserve or restore its value. The local authority, or any appropriately qualified person acting on behalf of the local authority, may, upon giving not less than 14 days’ notice to you, carry out such works of maintenance and/or repair as the local authority reasonably considers should be undertaken to the Property in order to preserve or restore its value at or to a value which is adequate security for the Debt, together with a reasonable amount by which it...
Possession and Use of the Property. Each Property shall be used in a manner consistent with the Construction Agency Agreement and, after the Completion Date for the Property, as (i) a retail grocery store or supermarket or (ii) a distribution facility or office building used in connection with the foregoing, or (iii) for any other legal use consistent with Lessee's operations, and applying standards of use no lower than the standards applied by Lessee for other comparable properties owned or leased by Lessee. Lessee shall pay, or cause
Possession and Use of the Property. Each Property shall be used in a manner consistent with the Agency Agreement and, after the Completion Date for the Property, as a skilled nursing or assisted living Facility. Lessee shall pay, or cause to be paid, all charges and costs required in connection with the use of the Properties. Lessee shall not commit or permit any waste of any Property or any part thereof.
Possession and Use of the Property. The Property shall be used as an independent living facility; provided, however, at the discretion of the Lessee, the Lessee shall also have the right, subject to the Lessee's compliance with all Requirements of Law with respect thereto, to provide or arrange for the provision of congregate care and/or assisted living services to residents of the Property. Such use of the Property shall be in a manner consistent with the standards applicable to properties of a similar nature in the geographic area in which the Property is located and in any event not less than the standards applied by Affiliates of the Lessee for other comparable properties of the Lessee or such Affiliates in such geographic area. The Lessee shall pay, or cause to be paid, all charges and costs required in connection with the use of the Property as contemplated by this Lease. The Lessee shall not intentionally commit or permit any waste of the Property or any part thereof.
Possession and Use of the Property. The Property shall be used in a manner consistent with properties of a similar nature in the businesses in which the Lessee is engaged or as permitted in any sublease or assignment allowed by Section 25.1 hereof and in compliance in all respects with any covenants, conditions and restrictions of record and any ordinance or law affecting the use and occupancy of the Property; and provided that such other uses do not increase the liability, directly or indirectly, of the Lessor or adversely affect the value, utility or remaining useful life of the Property. At all times during the applicable Term, the Property shall not be abandoned by the Lessee or a permitted assignee or sublessee. The Lessee shall pay, or cause to be paid, all charges and costs required in connection with the use of the Property as contemplated by this Lease. The Lessee shall not commit or permit any waste of the Property or any portion thereof.
