Common use of Sufficient Personal Property Clause in Contracts

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 and the Other Permitted Uses, unless the failure to comply with the same will not have any adverse effect on either the Leased Property or the Lessee. 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) if requested by the Lessor, deliver to the Lessor, a detailed inventory of all such Tangible Personal Property.

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 and the Other Permitted Uses, unless the failure to comply with the same will not have any adverse effect on either the Leased Property or the Lessee. In addition, the Lessee shall (Aa) 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 (Bb) if requested by the Lessor, deliver to the Lessor, a detailed inventory of all such Tangible Personal Property.