Required Capital Improvements Sample Clauses

Required Capital Improvements. As a condition of granting this Lease to Tenant, commencing with the date of full execution of this Lease, Tenant agrees to act with all commercially reasonable speed to obtain all permits and other necessary approvals and to commence construction for the Capital Improvements, in accordance with the description and schedule set forth in Exhibit D-2 (the “Required Capital Improvements”). Tenant shall complete the Required Capital Improvements on or before the fifth (5th) anniversary date of the Effective Date of this Lease (the “Completion Date”); provided however, so long as Tenant is not in default under this Lease and is diligently pursuing the completion of the Required Capital Improvements, Tenant shall have the right to extend the Completion Date for up to three (3) periods of twelve (12) months each (“Tenant’s Extension Rights”). In the event Tenant desires to exercise a Tenant’s Extension Right, Tenant shall notify Landlord of such exercise at least thirty (30) days prior to the Completion Date, as it may have previously been extended. The Required Capital Improvements are hereby designated and approved as Qualified Non-Elective Capital Improvements by the County except that the same shall not be subject to Rent credit under Article 9(C) above; provided, however, the Required Capital Improvements are eligible for the reimbursement set forth in Section 9.D above the same as Non-Elective Capital Improvements. The parties agree that Tenant shall not be obligated to spend more than the $1,200,000.00 Escrow Funds, as described in that certain Escrow Agreement by and between the County and Grace Episcopal Church of even date herewith, and that certain Assignment Agreement by and between Grace Episcopal Church and Tenant of even date herewith under which agreement Grace Episcopal Church assigned to Tenant all of its rights and obligations under the Escrow Agreement, with respect to completing the Required Capital Improvements, even though the aggregate costs of the Required Capital Improvements may exceed the $1,200,000.00 Escrow Funds. At any time after the completion of the Required Capital Improvements and prior to the Completion Date, Seller may use any remaining Escrow Funds under the Escrow Agreement described above to pay for the costs of additional capital improvements at the Property, subject to the County’s approval and the terms and conditions of this Lease, such approval not to be unreasonably withheld, conditioned or delayed.
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Required Capital Improvements. Subject to Section 5.12(C), each of the capital improvement items listed on Exhibit E hereto (“Required Capital Improvements”) shall be completed by the Required Completion Date.
Required Capital Improvements. Borrower shall cause Mortgage Borrower and Operating Lessee to complete all Required Capital Improvements as required under each Property Improvement Plan in all material respects and in a good and workmanlike manner subject to and in compliance with the terms of each Property Improvement Plan and the terms of this Agreement, subject to Force Majeure delays and any extension of time for the completion of such Property Improvement Plan, if any granted by the applicable Franchisor.
Required Capital Improvements. Includes all costs and expenses incurred in connection with the remediation of violations set forth in the EPA Administrative Orders.
Required Capital Improvements. Each of Borrower and Operating Lessee shall complete all Required Capital Improvements as required under each Property Improvement Plan in all material respects and in a good and workmanlike manner subject to and in compliance with the terms of each Property Improvement Plan and the terms of this Agreement, subject to Force Majeure delays and any extension of time for the completion of such Property Improvement Plan, if any granted by the applicable Franchisor.
Required Capital Improvements. As a condition of granting this Lease to Tenant, commencing with the date of full execution of this Lease, Xxxxxx agrees to act with all commercially reasonable speed to obtain all permits and to commence construction for the Non-Elective Capital Improvements, in accordance with the description and schedule set forth in Exhibit D-2. The Elective Capital Improvements and the Non-Elective Capital Improvements, in accordance with Exhibit D-2, are hereby designated and approved as Qualified Capital Improvements by the County and the same are subject to Rent credit.
Required Capital Improvements. To such Seller's knowledge, such Seller has received no written notice from any governmental body requiring such Seller to make any material repairs or changes to the Constituent Properties or the Improvements to comply with legal requirements, except for written notices with which such Seller has complied in all material respects.
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Required Capital Improvements. As soon as I/I work completed within 5 yrs reasonably practicable and no later than two years following Closing, the Buyer shall begin to undertake the capital improvements necessary set forth in Exhibit K.
Required Capital Improvements. Borrower shall complete the capital improvements set forth on Exhibit 5.19 (the “Required Capital Improvements”), in accordance with all Applicable Laws and to the reasonable satisfaction of Administrative Agent, on or prior to the date set forth for each Required Capital Improvement on Exhibit 5.19. The failure to complete each Required Capital Improvements by the specified date shall constitute an Event of Default under this Agreement, provided that no Event of Default shall exist if (i) the failure to complete a Required Capital Improvement is due to Force Majeure or (ii) the cost of completing the Required Capital Improvements is less than [$250,000.00] for each Required Capital Improvement and less than [$500,000.00] in the aggregate, and such Required Capital Improvements are completed within [thirty (30)] days of the agreed upon date of completion set forth on Exhibit 5.19].]
Required Capital Improvements. The Concessionaire will be solely responsible for all capital improvements related to the System (the “Facilities”) that are required to be completed during the Term in accordance with the terms of the Concession Agreement, including all capital improvements required by the Operating Standards and by Changes in Law. The Concessionaire, in accordance with all other requirements of the Agreement, will fully fund and complete the design and preparation of all construction documents and construction work for the demolition, reconstruction, structural repairs and restoration of any and all of the Facilities at its sole cost and expense.
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