Common use of Replacements of Fixtures Clause in Contracts

Replacements of Fixtures. Tenant shall not remove Fixtures from the Leased Property except to replace the Fixtures by other similar items of comparable quality and functionality. Items being replaced by Tenant may be removed and shall become the property of Tenant, and items replacing the same shall be and remain the property of the Landlord. Tenant shall execute, upon written request from Landlord, any and all documents necessary to evidence Landlord’s ownership of the Fixtures and replacements therefor. Tenant may finance replacements for the Fixtures by equipment lease or by a security agreement and financing statement; provided, however, that for any item of Fixtures having a cost greater than or equal to One Hundred Thousand Dollars ($100,000) (or Thirty Thousand Dollars ($30,000) in the case of a financing that is proposed within the last thirty-six (36) months of a Term), Tenant may not finance replacements by security agreement or equipment lease unless (a) Landlord has consented to the terms and conditions of the equipment lease or security agreement, including, without limitation, the amount to be financed and the amortization schedule regarding the principal amount of any such financing, (b) the equipment lessor or lender has entered into a non-disturbance agreement with the Landlord upon terms and conditions acceptable to Landlord, including without limitation, the following: (i) Landlord shall have the right (but not the obligation) to assume such security agreement or equipment lease upon the occurrence of an Event of Default by Tenant under this Lease Agreement, (ii) the equipment lessor or lender shall notify Landlord of any default by Tenant under the equipment lease or security agreement and give Landlord a reasonable opportunity to cure such default, and (iii) Landlord shall have the right to assign its rights under the equipment lease, security agreement, or non-disturbance agreement, and (c) Tenant shall, within thirty (30) days after receipt of an invoice from Landlord, reimburse Landlord for all reasonable costs and expenses incurred in reviewing and approving the equipment lease, security agreement, and non-disturbance agreement, including without limitation, attorneys’ fees, expenses and costs.

Replacements of Fixtures. Tenant shall not remove Fixtures from the any Leased Property except to replace the Fixtures by other similar items of comparable equal quality and functionalityvalue. Items being replaced by Tenant may be removed and shall become the property of Tenant, Tenant and items replacing the same shall be and remain the property of the Landlord. Tenant shall execute, upon written request from Landlord, any and all documents necessary to evidence Landlord’s 's ownership of the Fixtures and replacements therefor. Tenant may finance replacements for the Fixtures by equipment lease or by a security agreement and financing statement; provided, however, that for any item of Fixtures or Personal Property having a cost greater than or equal to One Hundred Ten Thousand Dollars ($100,000) (or Thirty Thousand Dollars ($30,000) in the case of a financing that is proposed within the last thirty-six (36) months of a Term10,000.00), Tenant may not finance replacements by security agreement or equipment lease unless (a) Landlord has consented to the terms and conditions of the equipment lease or security agreement, including, without limitation, the amount to be financed and the amortization schedule regarding the principal amount of any such financing, (b) the equipment lessor or lender has entered into a non-disturbance agreement with the Landlord upon terms and conditions acceptable to Landlord, including without limitation, the following: (i) Landlord shall have the right (but not the obligation) to assume such security agreement or equipment lease upon the occurrence of an Event of Default by Tenant under this Lease Agreementany Lease, (ii) the equipment lessor or lender shall notify Landlord of any default by Tenant under the equipment lease or security agreement and give Landlord a reasonable opportunity to cure such default, and (iii) Landlord shall have the right to assign its rights under the equipment lease, security agreement, or non-disturbance agreement, and (c) Tenant shall, within thirty (30) days after receipt of an invoice from Landlord, reimburse Landlord for all reasonable costs and expenses incurred in reviewing and approving the equipment lease, security agreement, and non-disturbance agreement, including without limitation, attorneys’ ' fees, expenses and costs.

Replacements of Fixtures. Tenant shall not remove Fixtures from the any Leased Property except to replace the Fixtures by other similar items of comparable equal quality and functionalityvalue. Items being replaced by Tenant may be removed and shall become the property of Tenant, and items replacing the same shall be and remain the property of the Landlord. Tenant shall execute, upon written request from Landlord, any and all documents necessary to evidence Landlord’s ownership of the Fixtures and replacements therefor. Tenant may finance replacements for the Fixtures by equipment lease or by a security agreement and financing statement; provided, however, that for any item of Fixtures or Personal Property having a cost greater than or equal to One Hundred Ten Thousand Dollars ($100,000) (or Thirty Thousand Dollars ($30,000) in the case of a financing that is proposed within the last thirty-six (36) months of a Term10,000.00), Tenant may not finance replacements by security agreement or equipment lease unless (ai) Landlord has consented to the terms and conditions of the equipment lease or security agreement, including, without limitation, the amount to be financed and the amortization schedule regarding the principal amount of any such financing, ; (bii) the equipment lessor or lender has entered into a non-disturbance nondisturbance agreement with the Landlord upon terms and conditions acceptable to Landlord, including without limitation, the following: (ia) Landlord shall have the right (but not the obligation) to assume such security agreement or equipment lease upon the occurrence of an Event of Default by Tenant under this Lease Agreement, Lease; (iib) the equipment lessor or lender shall notify Landlord of any default by Tenant under the equipment lease or security agreement and give Landlord a reasonable opportunity to cure such default, ; and (iiic) Landlord shall have the right to assign its rights under the equipment lease, security agreement, or non-disturbance nondisturbance agreement, ; and (ciii) Tenant shall, within thirty (30) days after receipt of an invoice from Landlord, reimburse Landlord for all reasonable costs and expenses incurred in reviewing and approving the equipment lease, security agreement, and non-disturbance nondisturbance agreement, including without limitation, reasonable attorneys’ fees, expenses fees and costs.

Replacements of Fixtures. (a) Tenant shall not remove Fixtures from the any Leased Property except to replace the such Fixtures by with other items used for similar or analogous purposes, which replacement items are of comparable equal or greater quality and functionalityutility. Items being Upon the expiration or early termination of this Lease in respect to a Leased Property, all items that Tenant has replaced by Tenant may be removed and on such Leased Property shall become the sole and absolute property of Tenantthe Landlord (or the Tenant to the extent that the Tenant has purchased such Leased Property pursuant to Article XVI). In the event that items are replaced by Landlord or at Landlord's expense, and items replacing the same recognizing that Landlord has no obligation to do so, such replacement Fixtures shall be the sole and remain the absolute property of the Landlord. To the extent that such replacement Fixtures are owned by Landlord, Tenant shall execute, upon written request from Landlord, any and all documents necessary to evidence Landlord’s 's ownership of the Fixtures and replacements therefor. Tenant may finance replacements for the any Fixtures by equipment lease or by a security agreement and financing statement; provided, however, that for any item of Fixtures having a cost greater than or equal to One Hundred Thousand Dollars Landlord shall replace. ($100,000b) (or Thirty Thousand Dollars ($30,000) in the case of a financing that is proposed within the last thirty-six (36) months of a Term), Tenant may not finance replacements of Fixtures by security agreement or equipment lease unless unless: (a) Landlord has consented to the terms and conditions of the equipment lease or security agreement, including, without limitation, the amount to be financed and the amortization schedule regarding the principal amount of any such financing, ; (b) the equipment lessor or lender has entered into a non-disturbance agreement with the Landlord upon terms and conditions acceptable to Landlord, including without limitation, the following: limitation (i) Landlord shall have the right (but not the obligation) to assume such security agreement or equipment lease upon the occurrence of an Event of Default not cured within the applicable cure period, if any, by Tenant under this Lease Agreement, hereunder; (ii) the equipment lessor or lender shall promptly notify Landlord of any default by Tenant under the equipment lease or security agreement and give Landlord a reasonable opportunity to cure such default, ; and (iii) Landlord shall have the right to assign its rights under the equipment lease, security agreement, or non-disturbance nondisturbance agreement; (c) the equipment lessor or lender shall subordinate its security interest to the security interest of any of Landlord's lessors, mortgagors or lenders, whether now created or hereafter existing, and (cd) Tenant shall, within thirty ten (3010) days after receipt of an invoice from Landlord, reimburse Landlord for all reasonable costs and expenses incurred in reviewing and approving the equipment lease, security agreement, and non-disturbance agreement, including without limitation, reasonable attorneys’ fees, expenses ' fees and costs.

Replacements of Fixtures. (a) Tenant shall not remove Fixtures from the any Leased Property except to replace the such Fixtures by with other items used for similar or analogous purposes, which replacement items are of comparable equal or greater quality and functionalityutility. Items being replaced by Tenant may be removed and shall become the property of Tenant, Tenant and items replacing the same shall be the sole and remain absolute property of Tenant during the Term and any Extension Term, as the case may be, of this Lease (in respect of such Leased Property). Upon the expiration or early termination of this Lease in respect to a Leased Property, all items that Tenant has replaced on such Leased Property shall become the sole and absolute property of the Landlord (or the Tenant to the extent that the Tenant has purchased such Leased Property pursuant to Article XVI). Without limiting the generality of the foregoing, prior to the expiration or early termination of this Lease in respect of a Leased Property, Tenant shall be entitled to all federal and state income tax benefits associated with all such replacement Fixtures located on such Leased Property that Tenant has replaced. In the event that items are replaced by Landlord or at Landlord's expense, such replacement Fixtures shall be the sole and absolute property of the Landlord. To the extent that such replacement Fixtures are owned by Landlord, Tenant shall execute, upon written request from Landlord, any and all documents necessary to evidence Landlord’s 's ownership of the Fixtures and replacements therefor. Tenant may finance replacements for the any Fixtures by equipment lease or by a security agreement and financing statement; provided, however, that for any item of Fixtures having a cost greater than or equal to One Hundred Thousand Dollars Landlord shall replace. ($100,000b) (or Thirty Thousand Dollars ($30,000) in the case of a financing that is proposed within the last thirty-six (36) months of a Term), Tenant may not finance replacements of Fixtures by security agreement or equipment lease unless unless: (a) Landlord has consented to the terms and conditions of the equipment lease or security agreement, including, without limitation, the amount to be financed and the amortization schedule regarding the principal amount of any such financing, ; (b) the equipment lessor or lender has entered into a non-disturbance agreement with the Landlord upon terms and conditions acceptable to Landlord, including without limitation, the following: limitation (i) Landlord shall have the right (but not the obligation) to assume such security agreement or equipment lease upon the occurrence of an Event of Default not cured within the applicable cure period, if any, by Tenant under this Lease Agreement, hereunder; (ii) the equipment lessor or lender shall promptly notify Landlord of any default by Tenant under the equipment lease or security agreement and give Landlord a reasonable opportunity to cure such default, ; and (iii) Landlord shall have the right to assign its rights under the equipment lease, security agreement, or non-disturbance agreement; (c) the equipment lessor or lender shall subordinate its security interest to the security interest of any of Landlord's lessors, mortgagors or lenders, whether now created or hereafter existing, and (cd) Tenant shall, within thirty ten (3010) days after receipt of an invoice from Landlord, reimburse Landlord for all reasonable costs and expenses incurred in reviewing and approving the equipment lease, security agreement, and non-disturbance agreement, including without limitation, reasonable attorneys’ fees, expenses ' fees and costs.