Sufficient Personal Property. The Lessee shall maintain, during the entire Term, the Tangible Personal Property in good order and repair and shall provide at its expense all necessary replacements thereof, as may be necessary in order to operate the Leased Property in compliance with all applicable Legal Requirements and Insurance Requirements and otherwise in accordance with customary practice in the industry for the Primary Intended Use. In addition, the Lessee shall (a) furnish all necessary replacements of obsolete items of the Tangible Personal Property during the Term, unless the Lessee provides the Lessor with an explanation (reasonably acceptable to the Lessor) as to why such Tangible Personal Property is no longer required in connection with the operation of the Leased Property and (b) at least once a year, and more frequently if requested by the Lessor, deliver to the Lessor, a detailed inventory of all such Tangible Personal Property.
Appears in 6 contracts
Samples: Facility Lease Agreement (Carematrix Corp), Development and Turnkey Services Agreement (Standish Care Co), Development Agreement (Standish Care Co)
