Common use of Scope of Right Clause in Contracts

Scope of Right. Subject to Section 8.01 herein and Section 7.03 -------------- concerning required alterations, at Tenant's cost and expense, Tenant shall have the right to: (a) seek any governmental approvals, including building permits, licenses, conditional use permits and any certificates of need that Tenant requires to construct any Tenant Improvement; (b) erect upon each Leased Property such Tenant Improvements as Tenant deems desirable; (c) make additions, alterations, changes and improvements in any Tenant Improvement so erected; and (d) engage in any other lawful activities that Tenant determines are necessary or desirable for the development of each Leased Property in accordance with the Tenant's Business; provided, however, Tenant shall not make any Tenant Improvement which would, in Landlord's reasonable judgment, impair the value of the Leased Property or the Tenant's Business without Landlord's prior written consent and provided, further that Tenant shall not be permitted to create a mortgage, lien or any other encumbrance on any Leased Property without Landlord's prior written consent.

Appears in 3 contracts

Samples: Lease Agreement (Capital Automotive Reit), Real Property Purchase Agreement (Capital Automotive Reit), Lease Agreement (Capital Automotive Reit)

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Scope of Right. Subject to Section 8.01 herein and Section 7.03 -------------- concerning required alterations, at Tenant's cost and expense, Tenant shall have the right to: (a) seek any governmental approvals, including building permits, licenses, conditional use permits and any certificates of need that Tenant requires to construct any Tenant Improvement; (b) erect upon each Leased Property such Tenant Improvements as Tenant deems desirable; (c) make additions, alterations, changes and improvements in any Tenant Improvement so erected; and (d) engage in any other lawful activities that Tenant determines are necessary or desirable for the development of each Leased Property in accordance with the Tenant's Business; provided, however, Tenant shall not make any Tenant Improvement which would, in Landlord's reasonable judgment, impair the value of the Leased Property or the Tenant's Business without Landlord's prior written consent and provided, further that Tenant shall not be permitted to create a mortgage, lien or any other encumbrance on any Leased Property without Landlord's prior written consent.

Appears in 1 contract

Samples: Lease Agreement (Lithia Motors Inc)

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