Replacements if any Temporary Global Note, Permanent Global Note, Definitive Note or Coupon is presented or surrendered for payment to any Paying Agent and such Paying Agent has delivered a replacement therefor or has been notified that the same has been replaced, such Paying Agent shall forthwith notify the Issuer of such presentation or surrender and shall not make payment against the same until it is so instructed by the Issuer and has received the amount to be so paid;
Restoration The Restoration Fund shall be disbursed by the Trustee in accordance with the following conditions: (a) If the cost of Restoration will exceed the Threshold Amount, prior to commencement of the Restoration the architects, general contractor(s), and plans and specifications for the Restoration shall be approved by Landlord, which approval shall not be unreasonably withheld or delayed, and which approval shall be granted to the extent that the plans and specifications depict a Restoration which is substantially similar to the Improvements and Equipment which existed prior to the occurrence of the casualty or Taking, whichever is applicable. Landlord will not withhold its consent for variations to the Improvements required as a result of current zoning and building code requirements. (b) At the time of any disbursement, no Event of Default shall exist and no mechanics’ or materialmen’s Liens shall have been filed and remain undischarged or unbonded or for which Tenant shall fail to provide affirmative title insurance coverage. (c) Disbursements shall be made from time to time in an amount not exceeding the hard and soft cost of the work and costs incurred since the last disbursement upon receipt of (1) satisfactory evidence, including architects’ certificates of the stage of completion, of the estimated cost of completion and of performance of the work to date in a good and workmanlike manner in accordance with the contracts and the plans and specifications, (2) partial releases of Liens or conditional Lien waivers, and (3) other reasonable evidence of cost and payment so that Landlord can verify that the amounts disbursed from time to time are represented by work that is completed in place or delivered to the site and free and clear of mechanics’ Lien claims. (d) Each request for disbursement shall be sent by Tenant to Landlord and to the Trustee, accompanied by a certificate of Tenant describing the work, materials or other costs or expenses, for which payment is requested and stating (i) the cost incurred in connection therewith, (ii) that no Event of Default exists and no mechanics’ or materialmen’s Liens shall have been filed and remain undischarged or unbonded, and (iii) that Tenant has not previously received payment for such work or expense; the certificate to be delivered by Tenant upon completion of the work shall, in addition, state that the work that is the subject of the request for disbursement has been substantially completed and complies with the applicable requirements of this Lease. The Trustee shall not release funds from the Restoration Fund unless and until it has received a written authorization from Landlord approving such release, which ▇▇▇▇▇▇▇▇ agrees to promptly give if ▇▇▇▇▇▇ has satisfied all of the requirements set forth in this Paragraph 15 in connection with such release. (e) The Trustee shall retain a commercially reasonable retainage amount (but in no event less than 5% of the expected repair cost, other than general conditions, until the Restoration is 50% complete). (f) The Restoration Fund shall be held by the Trustee and shall be invested as directed by Landlord. All interest shall become a part of the Restoration Fund. (g) At all times the undisbursed balance of the Restoration Fund held by the Trustee, plus any funds contributed thereto by ▇▇▇▇▇▇, at its option, shall be not less than the cost of completing the Restoration (as reasonably estimated by ▇▇▇▇▇▇, provided that Tenant shall provide to Landlord the basis for such estimate, in reasonable detail, promptly after Landlord’s request therefor), free and clear of all Liens. (h) In addition, prior to commencement of Restoration and at any time during Restoration, if the estimated cost of Restoration, as reasonably determined by a contractor or architect mutually selected by Landlord and Tenant, exceeds the amount of the Net Proceeds or the Net Award, as applicable, and Tenant Insurance Payment available for such Restoration, either, at Tenant’s option and determination, the amount of such excess shall be paid by Tenant to the Trustee to be added to the Restoration Fund or Tenant shall fund at its own expense the costs of such Restoration until the remaining Restoration Fund is sufficient for the completion of the Restoration. Any sum in the Restoration Fund which remains in the Restoration Fund upon the completion of Restoration with respect to a casualty shall be paid to Tenant; any portion of a Net Award remaining after completion of Restoration with respect to a Taking shall be paid to Landlord.
Repairs The Tenant shall, at its sole expense, make all necessary repairs to the leased premises, including but not limited to the boiler, heating system, plumbing system, electrical system, sewage system and other utility systems and equipment, windows, window glass, fixtures, and all appliances, and their appurtenances, and all equipment used in connection with the leased premises, except for repairs to the roof, structural walls and parking lot. Repairs to the roof, structural walls and parking lot shall be the responsibility of the Tenant, only in the event that the roof, structural walls or parking lot is damaged as a result of the Tenant's operations or negligence. Such repairs, ordinary as well as extraordinary, shall be made promptly as and when necessary. All repairs shall be in quality and class at least equal to the original work. Repairs, alterations and improvements shall be done using workmanlike standards. All work shall be performed in compliance with all applicable laws, ordinances, codes, rules and regulations. The Tenant shall be responsible for maintaining the painting and decoration of the interior of the leased premises. On default of the Tenant in making such repairs the Landlord may, but shall not be required to make such repairs and replacements, for the Tenant's account, and the expense thereof, together with 1 1/2% interest per month thereon shall constitute and be collectable as additional rent. Landlord shall provide Tenant with written notice of default and a twenty (20) day period to cure prior to Landlord undertaking said repairs. The Landlord represents that the condition of the mechanical systems in the premises are in good working order and will be maintained by the Landlord at the Landlord's sole expense for the first year of this Lease. Thereafter, all repairs will be the sole responsibility of the Tenant. However, replacements of the heating, ventilation or air conditioning systems will be prorated between the Landlord and the Tenant as follows: The Tenant shall pay that proportion of the replacement equal to the number of years it has been a tenant at the premises divided by the age of the failed mechanical system. For example if the heater needs to be replaced after four years following the commencement of the Tenant's tenancy hereunder and the heater was 16 years old at that time, the Tenant will pay twenty-five (25%) percent (4 divided by 16) of the heater replacement.
Renewals You will be provided with renewal terms in good time before expiry of the policy, or notified that renewal is not being invited. Unless you advise otherwise renewals are invited on the basis that there have been no changes in the risk or cover required, other than those specifically notified to us or your insurers (see section on ‘‘Duty of Fair Presentation’‘). It is very important that you check the information provided at renewal to confirm it remains accurate and complete. If any of the information is incorrect or if your circumstances have changed you should contact us immediately so we can update your details. Failure to notify us or your insurer of any incorrect information or change in circumstances may lead to your policy being cancelled or your claim rejected or not fully paid.
Improvements The buildings, structures, fixtures, additions, enlargements, extensions, modifications, repairs, replacements and improvements now or hereafter erected or located on the Land (collectively, the “Improvements”);