Tenant’s Personal Property. Tenant may (and shall as provided hereinbelow), at its expense, install, affix or assemble or place on any parcels of the Land or in any of the Leased Improvements, any items of Tenant’s Personal Property and Tenant shall, subject to the conditions set forth below and except for any Tenant’s Personal Property that is purchased by Lessor pursuant to Section 37.2 below, remove the same upon the expiration or any prior termination of the Term. Tenant shall provide and maintain during the entire Term all such Tenant’s Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, 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. Lessor acknowledges that Leasehold Mortgagee has a security interest in Tenant’s Personal Property and, upon the expiration or earlier termination of this Lease as it relates to a Leased Property, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s Personal Property, so long as Leasehold Mortgagee, at no expense to Lessor, repairs or causes to be repaired, any damage to such Leased Property caused by any such removal, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on such Tenant’s Personal Property any xxxx Xxxxxx has thereon. All of Tenant’s Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one days following the expiration or earlier termination of this Lease with respect to the applicable Leased Property where such Tenant’s Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be considered abandoned by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor without first giving notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose of the same in accordance with applicable law. Tenant will, at its expense, restore such Leased Property to the condition required by Section 9.1(d), including repair of all damage to the Leased Property caused by the removal of Tenant’s Personal Property, whether effected by Tenant, Leasehold Mortgagee or Lessor.
Appears in 13 contracts
Samples: Master Lease Agreement (Kindred Healthcare, Inc), Master Lease Agreement (Kindred Healthcare, Inc), Master Lease Agreement (Kindred Healthcare, Inc)
Tenant’s Personal Property. Tenant may (and shall as provided hereinbelow), at its expense, install, affix or assemble or place on any parcels of the Land or in any of the Leased Improvements, any items of Tenant’s 's Personal Property Property, and Tenant shallmay, subject to the conditions set forth below and except for any Tenant’s Personal Property that is purchased by Lessor pursuant to Section 37.2 below, remove the same upon the expiration or any prior sooner termination of the Term. Tenant shall provide and maintain during the entire Term all such Tenant’s 's Personal Property as shall be necessary in order to operate each the Facility in compliance with all licensure and certification requirements, 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. Lessor acknowledges that Leasehold Mortgagee has a security interest in All of Tenant’s 's Personal Property and, upon not removed by Tenant on or prior to the expiration or earlier termination of this Lease as it relates to a Leased Property, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s Personal Property, so long as Leasehold Mortgagee, at no expense to Lessor, repairs or causes to be repaired, any damage to such Leased Property caused by any such removal, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on such Tenant’s Personal Property any xxxx Xxxxxx has thereon. All of Tenant’s Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one days following the expiration or earlier termination of this Lease with respect to the applicable Leased Property where such Tenant’s Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be considered abandoned by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor Landlord without the necessity of first giving notice thereof to Tenant or Leasehold Mortgagee and Tenant, without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose of the same in accordance with applicable lawtherefor. Tenant willshall, at its expense, restore such the Leased Property to the condition required by Section 9.1(d)5.4, including repair of all damage to the Leased Property caused by the removal of Tenant’s 's Personal Property, whether effected by Tenant or Landlord. If Tenant uses any item of tangible personal property (other than motor vehicles) on, or in connection with, the Leased Property which belongs to anyone other than Tenant, Leasehold Mortgagee Tenant shall use its best efforts to require the agreement permitting such use to provide that Landlord or Lessorits designee may assume Tenant's rights under such agreement upon management of the Facility by Landlord or its designee.
Appears in 4 contracts
Samples: Lease Agreement (Senior Housing Properties Trust), Settlement Agreement (Senior Housing Properties Trust), Lease Agreement (Senior Housing Properties Trust)
Tenant’s Personal Property. Tenant will acquire and maintain -------------------------- throughout the Term such Inventory as is required to operate the Leased Property in the manner contemplated by this Lease. Tenant may (and shall as provided hereinbelow), at its expense, install, affix or assemble or place on any parcels of the Land or in any of the Leased Improvements, any items of personal property (including Inventory) owned by Tenant’s . Tenant, at the commencement of the Term, and from time to time thereafter, shall provide Landlord with an accurate list of all such items of Tenant's personal property (collectively, "Tenant's Personal Property and Property"). Tenant shallmay, subject to the first sentence of this Section 6.2 and the conditions set forth below and except for any Tenant’s Personal Property that is purchased by Lessor pursuant to Section 37.2 below, remove any of Tenant's Personal Property set forth on such list at any time during the same Term or upon the expiration or any prior termination of the Term. Tenant shall provide and maintain during the entire Term all such All of Tenant’s Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, 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. Lessor acknowledges that Leasehold Mortgagee has a security interest in Tenant’s Personal Property and, upon the expiration or earlier termination of this Lease as it relates to a Leased Property, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s 's Personal Property, so long as Leasehold Mortgageeother than Inventory, at no expense to Lessor, repairs or causes to be repaired, any damage to such Leased Property caused by any such removal, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on such Tenant’s Personal Property any xxxx Xxxxxx has thereon. All of Tenant’s Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one ten days following the expiration or earlier termination of this Lease with respect to the applicable Leased Property where such Tenant’s Personal Property is located or sold to Lessor pursuant to Section 37.2 below Term shall be considered abandoned by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor Landlord without first giving notice Notice thereof to Tenant or Leasehold Mortgagee and Tenant, without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose of the same in accordance with applicable lawtherefor. Tenant will, at its expense, restore such the Leased Property to the condition required by Section 9.1(d), including repair of all damage to the Leased Property caused by the removal of Tenant’s 's Personal Property, whether effected by Tenant or Landlord. Upon the expiration or earlier termination of the Term, Landlord or its designee shall have the option to purchase all Inventory on hand at the Leased Property at the time of such expiration or termination for a sale price equal to the fair market value of such Inventory. Tenant may make such financing arrangements, title retention agreements, leases or other agreements with respect to the Tenant's Personal Property as it sees fit provided that Tenant first advises Landlord of any such arrangement and such arrangement expressly provides that in the event of Tenant's default thereunder, Leasehold Mortgagee Landlord (or Lessorits designee) may assume Tenant's obligations and rights under such arrangement.
Appears in 2 contracts
Samples: Lease Agreement (Hudson Hotels Trust), Lease Agreement (Hudson Hotels Trust)
Tenant’s Personal Property. Tenant may (TENANT'S personal property and shall as provided hereinbelow), at its expense, install, affix or assemble or place effects are the TENANT'S sole responsibility throughout the tenancy. LANDLORD'S insurance will not cover TENANT'S personal property and TENANT agrees to carry his/her own insurance on any parcels such property and personal effects. All personal property of the Land tenant on said premises shall remain his sole responsibility and risk, and the Landlord shall not be liable for any damages to, or loss of such personal property arising from any acts of negligence of any other person, nor from the leaking of the roof, or from bursting, leaking, or overflowing of water, sewer, or from plumbing fixtures, or from the handling of electrical wires or fixtures, or from any cause whatsoever, nor shall the Landlord be liable for any injury to the tenant or other person in or about the premises, the tenant expressly agreeing to save the Landlord harmless in all such causes and events. ADDITIONAL PROVISIONS: UNAVAILABILITY OF PREMISES/DUPLICATE BOOKING/OTHER: If for any reason the Landlord is unable to provide the Premises in a fit and habitable condition or make the Premises available for this lease, the LANDLORD shall either A) provide and TENANT shall accept a substitute reasonably comparable property and LANDLORD shall pay any additional charges that would be due in excess of the rate for the original booking OR B) refund all rents and fees paid for the original booking together with a 15% (of base rental) override and cancel the lease with no further liability. It is hereby agreed that these are the only two alternatives and the sole remedy for any and all damages, liability or inconvenience arising out of LANDLORD’s failure to make the Premises available. ACTS OF GOD/CONSTRUCTION NOISE: Landlord shall not be liable for events beyond their control which may interfere with Tenant's occupancy, such as Acts of God, acts of governmental agencies, fire, strikes, war, inclement weather and construction noise from nearby sites. NO REBATE OR REFUND will be offered in these circumstances. INSURANCE: Tenant agrees that Landlord shall not be liable for travel disruptions, Tenant's personal property or illness or injury. Tenant is strongly encouraged to purchase a Vacation Insurance Policy. Please ask us for referrals. RIGHT OF ENTRY: The Landlord, his agents or representatives shall have the right to enter the Premises during reasonable hours to inspect, make alterations and/or repairs, or to provide maintenance as Landlord may deem appropriate. TENANT acknowledges that routine care taking and grounds maintenance will occur periodically during the lease period. ABANDONED PERSONAL PROPERTY: When the TENANT vacates or abandons the property any personal property left behind on the premises shall be deemed abandoned by the TENANT and LANDLORD shall not be held responsible. During TENANT's occupancy TENANT is solely responsible for the security of all of TENANT’s personal property and the LANDLORD shall not in any way be liable for loss, theft or damage of the Leased Improvementssame. Additionally, any items TENANT shall however, be responsible for LANDLORD's personal property under the TENANT's control by virtue of Tenant’s Personal Property this lease. If you leave something behind we will make every effort to locate it and Tenant shallreturn it to you C.O.D. Items unclaimed after thirty days will be donated to charity. DAMAGE/SECURITY DEPOSIT: May be applied to actual damages caused by TENANT, subject excess phone or cable charges, excessive cleaning charges, excess services required, fines imposed and/or costs of enforcing this lease. Within 30 days following the end of the tenancy the Damage/Security Deposit will be applied, accounted for or refunded to the conditions set forth below and except for any Tenant’s Personal Property that is purchased by Lessor pursuant TENANT. If the TENANT has provided a credit card, the TENANT hereby authorizes the LANDLORD to Section 37.2 below, remove the same upon the expiration or any prior termination of the Termcharge these charges to his/her account. Tenant shall provide and maintain during the entire Term all such Tenant’s Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, 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. Lessor acknowledges that Leasehold Mortgagee has a security interest in Tenant’s Personal Property and, upon the expiration or earlier termination of this Lease as it relates to a Leased Property, Lessor report any INDEMNIFICATION AND HOLD HARMLESS: Tenant agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s Personal Property, so long as Leasehold Mortgagee, at no expense to Lessor, repairs indemnify and hold harmless Owner and Landlord and their representatives from and against any liability for personal injury or causes to be repaired, any property damage to such Leased Property caused sustained by any such removalperson (including Tenant's guests) as a result of any cause, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on such Tenant’s Personal Property any xxxx Xxxxxx has thereon. All of Tenant’s Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one days following the expiration or earlier termination of this Lease with respect to the applicable Leased Property where such Tenant’s Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be considered abandoned by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor without first giving notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose of the same in accordance with applicable law. Tenant will, at its expense, restore such Leased Property to the condition required by Section 9.1(d), including repair of all damage to the Leased Property unless caused by the removal gross negligence or intentional willful act of Tenant’s Personal Property, whether effected by Tenant, Leasehold Mortgagee the Owner or LessorLandlord.
Appears in 2 contracts
Samples: Vacation Home Rental Agreement, Vacation Home Rental Agreement
Tenant’s Personal Property. Tenant may (and shall as provided -------------------------- hereinbelow), at its expense, install, affix or assemble or place on any parcels of the Land or in any of the Leased Improvements, any items of Tenant’s 's Personal Property and Tenant shall, subject to the conditions set forth below and except for any Tenant’s 's Personal Property that is purchased by Lessor pursuant to Section 37.2 below, remove the same upon the expiration or any prior termination ------------ of the Term. Tenant shall provide and maintain during the entire Term all such Tenant’s 's Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, 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. Lessor acknowledges that Leasehold Mortgagee has a security interest in Tenant’s 's Personal Property and, upon the expiration or earlier termination of this Lease as it relates to a Leased Property, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s 's Personal Property, so long as Leasehold Mortgagee, at no expense to Lessor, repairs or causes to be repaired, any damage to such Leased Property caused by any such removal, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on such Tenant’s 's Personal Property any xxxx Xxxxxx has thereon. All of Tenant’s 's Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one days following the expiration or earlier termination of this Lease with respect to the applicable Leased Property where such Tenant’s 's Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be considered abandoned by Tenant ------------ and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor without first giving notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose of the same in accordance with applicable law. Tenant will, at its expense, restore such Leased Property to the condition required by Section 9.1(d), including repair of all -------------- damage to the Leased Property caused by the removal of Tenant’s 's Personal Property, whether effected by Tenant, Leasehold Mortgagee or Lessor.
Appears in 2 contracts
Samples: Master Lease Agreement (Kindred Healthcare Inc), Master Lease Agreement (Ventas Inc)
Tenant’s Personal Property. Landlord and Tenant may hereby acknowledge and agree that during the term of this Lease Tenant will have within the Premises, or will cause to be placed upon Premises, certain furniture (and shall as provided hereinbelowincluding employee workstations), at its expenseoffice equipment, installcomputers, affix or assemble or place on any parcels of fixtures, office supplies and other personal property used in the Land or in any of the Leased Improvements, any items operation of Tenant’s 's business and owned or leased by Tenant (collectively, "Tenant's Personal Property"). Landlord does hereby acknowledge and agree that Tenant's Personal Property shall be and remain the sole property of Tenant or any lessor or mortgagee of Tenant's Personal Property and Tenant shallshall be and remain personal property, subject to the conditions set forth below and except for any that Tenant’s 's Personal Property shall not at any time be deemed a part of the realty and that is purchased Tenant's Personal Property may be removed from the Premises by Lessor pursuant to Section 37.2 below, remove the same Tenant or its equipment lessor or mortgagee at any time before or upon the expiration or any prior other termination of the Termthis Lease. Tenant shall provide and maintain during be responsible for the entire Term cost of Landlord to repair any damage to the Premises occasioned by such removal. If Tenant shall not remove all such Tenant’s 's Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, in compliance with all applicable Legal Requirements and Insurance Requirements and otherwise in accordance with customary practice in from the industry for the Primary Intended Use. Lessor acknowledges that Leasehold Mortgagee has a security interest in Tenant’s Personal Property and, upon the Premises at any expiration or earlier other termination of this Lease as it relates Lease, Landlord shall have the right, at Landlord's election, to a Leased Property, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased remove all or part of Tenant's Personal Property in order to remove such Tenant’s Personal Propertyany manner that Landlord shall choose and store, so long as Leasehold Mortgageedemolish, at no expense to Lessor, repairs or causes to be repaired, any damage to such Leased Property caused by any such removal, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on such Tenant’s Personal Property any xxxx Xxxxxx has thereon. All of Tenant’s Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one days following the expiration or earlier termination of this Lease with respect to the applicable Leased Property where such Tenant’s Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be considered abandoned by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor without first giving notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor destroy or otherwise dispose of the same without liability to Tenant for loss thereof, and Tenant shall be liable to Landlord for all expenses incurred in accordance with applicable law. Tenant willsuch removal, at its expensedemolition, restore such Leased Property to the condition required by Section 9.1(d), including repair of all damage to the Leased Property caused by the removal destruction or disposal of Tenant’s 's Personal Property and also for the cost of storage of the same, if Landlord elects to store such items. Prior to any such removal, demolition, destruction or disposal of Tenant's Personal Property, whether effected Landlord shall provide Tenant fifteen (15) days notice to pick up any of Tenant's Personal Property remaining within the Premises. Tenant's Personal Property shall not include any equipment, fixtures, appliances, machinery or other personal property that is used in connection with the operation of building improvements located on the Premises, as distinguished from being used by Tenant in connection with the operation of its business upon the Premises; nor shall Tenant, Leasehold Mortgagee 's Personal Property include any such items that were assigned or Lessorconveyed to Landlord in connection with Landlord's acquisition of the Premises. The provisions of this Paragraph shall survive the expiration or termination of this Lease.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Crawford & Co), Purchase and Sale Agreement (Crawford & Co)
Tenant’s Personal Property. Tenant may (and shall as provided hereinbelow), at its expense, install, affix or assemble or place on any parcels of the Land or in any of the Leased Improvements, any items of Tenant’s Personal Property and Tenant shall, subject to the conditions set forth below and except for any Tenant’s Personal Property that is purchased by Lessor pursuant to Section 37.2 below, remove the same upon the expiration or any prior termination of the Term. Tenant shall provide and maintain during the entire Term all such Tenant’s Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, 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. Lessor acknowledges that Leasehold Mortgagee has a security interest in Tenant’s Personal Property and, upon 29.1 At the expiration or earlier termination of this the Lease as it relates the Landlord shall have the right to a Leased Property(i) for no consideration, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such take an assignment of the Tenant’s Personal Property, so long as Leasehold Mortgagee, at no expense to Lessor, repairs or causes to be repaired, any damage to such Leased Property caused by any such removal, and further agrees to subordinate, and hereby subordinates, to interest in all of the lien of Leasehold Mortgagee on such leased Tenant’s Personal Property any xxxx Xxxxxx has thereon. All free and clear of all charges and encumbrances (other than said lease), save where the assignment of such is contractually barred, is and (ii) purchase all of Tenant’s owned Tenant’s Personal Property not removed free and clear of all charges and encumbrances for the fair market value thereof, which right must be exercised by Landlord upon irrevocable written notice to Tenant or Leasehold Mortgagee within twenty-one at least ninety (90) days following prior to expiration of the expiration or earlier termination Term (save in the event of this Lease with respect to default, in which event no such notice shall be required). For purposes of determining the applicable Leased Property where such fair market value of the owned Tenant’s Personal Property (“Personal Property Fair Market Value”), the following procedure shall apply.
29.1.1 If Landlord has timely delivered the aforementioned notice, the Tenant shall within twenty (20) days deliver to Landlord a written notice of Tenant’s determination of the Personal Property Fair Market Value (the “Value Notice”).
29.1.2 Within fifteen (15) days after Landlord’s receipt of the Value Notice, Landlord shall give Tenant a notice (“Landlord’s Value Response Notice”) electing either (i) to accept the Personal Property Fair Market Value set forth in the Value Notice, in which case the Personal Property (so far as the Tenant is located or sold able to Lessor pursuant to Section 37.2 below sell the same) Fair Market Value shall be considered abandoned as set forth in the Value Notice, or (ii) not to accept Tenant’s determination of the Personal Property Fair Market Value set forth in the Value Notice in which case Landlord’s Value Response Notice shall include Landlord’s determination of the Personal Property Fair Market Value, whereupon Landlord and Tenant shall endeavour to agree upon the Personal Property Fair Market Value on or before the date that is thirty (30) days after Texxxx’x receipt of Landlord’s Value Response Notice. If the Landlord and the Tenant are unable to agree upon the Personal Property Fair Market Value within such 30-day period, then the Personal Property Fair Market Value shall be determined in accordance with Clause 32.1.3 below. If the Landlord fails to deliver Laxxxxxx’x Value Response Notice within the 15-day period following its receipt of Tenant’s Value Notice the Landlord shall be conclusively deemed to have rejected the Tenant’s determination of the Personal Property Fair Market Value.
29.1.3 If the Landlord and the Tenant shall fail to agree upon the Personal Property Fair Market Value within thirty (30) days of the date of Tenant’s receipt of the Landlord’s Value Response Notice, then, within ten (10) Working Days thereafter, the Landlord and the Tenant each shall give notice to the other setting forth the name and address of an independent valuer or consultant having at least ten (10) years’ experience in the business of valuing or determining the value of personal property comparable to Tenant’s Personal Property in the general location of the Premises. If either party shall fail to give notice of such designation within such ten (10) Working Day period, then the valuer chosen shall make the determination alone. If two valuers have been designated, such two valuers may consult with each other and shall, not later than the sixtieth (60th) day after the Tenant’s receipt of the Landlord’s Value Response Notice choose either Landlord’s or Tenant’s determination of the Personal Property Fair Market Value by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor without first simultaneously giving written notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose each of the same Landlord and the Tenant, in accordance with applicable lawwhich case the determination so chosen shall be final and binding upon the Landlord and the Tenant and their respective Affiliates. Tenant willIf such two appraisers shall fail to concur within such thirty (30) day period, at then such two appraisers shall, within the next ten (10) days, designate a third appraiser meeting the above requirements. The third appraiser shall within thirty (30) days after its expensedesignation, restore such Leased Property choose either Landlord’s or Tenant’s determination (and no other) by simultaneously delivering to the condition Landlord and the Tenant signed and acknowledged original counterparts of his or her determination within seven (7) days thereof, which determination shall be final and binding upon the Landlord and the Tenant. The determination of the valuers pursuant to this clause 32.1.3 shall be deemed to be binding. The parties shall thereafter execute and deliver any documents required to transfer Texxxx’x Personal Property pursuant to such valuers determination.
29.1.4 The fees, costs and expenses of each party’s valuer shall be paid by Section 9.1(d)such party. The fees, including repair costs and expenses of all damage the third valuer shall be shared equally by the Landlord and the Tenant. If a decision is rendered by a single valuer due to the Leased Property caused other party’s failure to designate an valuer, then the fees, costs and expenses of the appraiser so rendering the decision shall be shared equally by the removal of Landlord and the Tenant’s Personal Property, whether effected by Tenant, Leasehold Mortgagee or Lessor.
Appears in 2 contracts
Samples: Lease Agreement (Griffin-American Healthcare REIT II, Inc.), Lease Agreement (Griffin-American Healthcare REIT II, Inc.)
Tenant’s Personal Property. Tenant will acquire and maintain throughout the Term such Inventory as is required to operate the Leased Property in the manner contemplated by this Lease. Tenant may (and shall as provided hereinbelow), at its expense, install, affix or assemble or place on any parcels of the Land or in any of the Leased Improvements, any items of personal property (including Inventory) owned by Tenant. Tenant, at the commencement of the Term, and from time to time thereafter, shall provide Landlord with an accurate list of all such items of Tenant’s personal property (collectively, the “Tenant’s Personal Property”). Tenant may, subject to the first sentence of this Section 6.2 and the conditions set forth below, remove any of Tenant’s Personal Property and Tenant shall, subject to the conditions set forth below and except for on such list at any Tenant’s Personal Property that is purchased by Lessor pursuant to Section 37.2 below, remove time during the same Term or upon the expiration or any prior termination of the Term. Tenant shall provide and maintain during the entire Term all such Tenant’s Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, 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. Lessor acknowledges that Leasehold Mortgagee has a security interest in Tenant’s Personal Property and, upon the expiration or earlier termination All of this Lease as it relates to a Leased Property, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s Personal Property, so long as Leasehold Mortgageeother than Inventory, at no expense to Lessor, repairs or causes to be repaired, any damage to such Leased Property caused by any such removal, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on such Tenant’s Personal Property any xxxx Xxxxxx has thereon. All of Tenant’s Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one ten (10) days following the expiration or earlier termination of this Lease with respect to the applicable Leased Property where such Tenant’s Personal Property is located or sold to Lessor pursuant to Section 37.2 below Term shall be considered abandoned by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor Landlord without first giving notice Notice thereof to Tenant or Leasehold Mortgagee and Tenant, without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose of the same in accordance with applicable lawtherefor. Tenant will, at its expense, restore such the Leased Property to the condition required by Section 9.1(d), including repair of all damage to the Leased Property caused by the removal of Tenant’s Personal Property, whether effected by Tenant or Landlord. Upon the expiration or earlier termination of the Term, Tenant shall sell and Landlord, or its designee, shall purchase all Inventory on hand at the Leased Property at the time of such expiration or termination for a sale price equal to Tenant’s actual cost of such Inventory, Leasehold Mortgagee as evidenced by invoices, receipts, or Lessorother reasonable documentation. Tenant may make such financing arrangements, title retention agreements, leases or other agreements with respect to the Tenant’s Personal Property as it sees fit provided that Tenant first advises Landlord of any such arrangement and such arrangement expressly provides that in the event of Tenant’s default thereunder, Landlord (or its designee) may assume Tenant’s obligations and rights under such arrangement.
Appears in 1 contract
Samples: Lease Agreement (American Realty Capital Hospitality Trust, Inc.)
Tenant’s Personal Property. Tenant may (and shall as provided hereinbelow), at its expense, install, affix or assemble or place on any parcels of the Land or in any of the Leased Improvements, any items of Tenant’s Personal Property and Tenant shall, subject to the conditions set forth below and except for any Tenant’s Personal Property that is purchased by Lessor pursuant to Section 37.2 below, remove the same upon the expiration or any prior termination of the Term. Tenant shall provide and maintain during the entire Term all such TenantPersonal Property, in addition to Landlord’s Personal Property Property, as shall be necessary and appropriate in order to operate each Facility the Facilities for the Primary Intended Use in compliance with all licensure and certification requirements, in compliance with all applicable Legal Requirements and Insurance Requirements and otherwise in accordance with customary practice in the industry for the Primary Intended UseUse (“Tenant’s Personal Property”). Lessor acknowledges that Leasehold Mortgagee has a security interest in Except to the extent specifically allowed under Section 8.2.1.4 of this Lease, without the prior written consent of Landlord, which consent shall not be unreasonably withheld, Tenant shall not permit or suffer Tenant’s Personal Property andto be subject to any lien, charge, encumbrance, financing statement or contract of sale or the like other than that provided for in Section 6.3 below. Except for those items of Personal Property listed on Schedule 6.3 which shall at all times belong to and may be removed by Tenant, upon the expiration of the Term or the earlier termination of this Lease as it relates Lease, without the payment of any additional consideration by Landlord, Tenant shall be deemed to a Leased Propertyhave sold, Lessor agrees assigned, transferred and conveyed to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s Personal Property, so long as Leasehold Mortgagee, at no expense to Lessor, repairs or causes to be repaired, any damage to such Leased Property caused by any such removal, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on such Tenant’s Personal Property any xxxx Xxxxxx has thereon. All Landlord all of Tenant’s Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one days following the expiration or earlier termination of this Lease with respect right, title and interest in and to the applicable Leased Property where such Tenant’s Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be considered abandoned by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor without first giving notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose of the same in accordance with applicable law. Tenant will, at its expense, restore such Leased Property to the condition required by Section 9.1(d), including repair of all damage to the Leased Property caused by the removal of Tenant’s Personal Property. In connection with any Personal Property sold, whether effected assigned, transferred or conveyed to Landlord pursuant to the preceding sentence, Landlord shall have the option to assume, or cause the new operator to assume, any lease or equipment financing obligations of Tenant permitted under Section 8.2.1.4 hereof. If such option is not exercised, then such Personal Property shall not be sold, assigned, transferred or conveyed to Landlord. Both parties agree that Landlord owns as of the Commencement Date, and will own all of the Personal Property at the Facilities as of the expiration of the Term or the earlier termination of this Lease, except for those items of Personal Property listed on Schedule 6.3, equipment that is leased or financed pursuant Section 8.2.1.4 of this Lease, and those items of Personal Property previously owned by Tenanta tenant under the Existing Leases that is not fully depreciated. Both parties further agree that, Leasehold Mortgagee notwithstanding anything in the Expiring Lease to the contrary and for the purpose of the continued leasing of the Facilities by Tenant under this Lease, Tenant will continue to own all of the Personal Property at the Facilities on the Commencement Date that for accounting purposes has not been fully depreciated by Tenant as of the Commencement Date until the earlier of (i) the expiration of the Term, (ii) the earlier termination of this Lease, or Lessor(ii) the date such item of Personal Property is fully depreciated, at which time it shall automatically become the property of Landlord.
Appears in 1 contract
Samples: Master Lease (Diversicare Healthcare Services, Inc.)
Tenant’s Personal Property. In the event of a monetary default for nonpayment of Net Basic Rent and expenses by Tenant of any terms, covenants, agreements, or conditions of this Lease, then Landlord at its option, without notice or other act, shall become the owner of any or all of Tenant's equipment, fixtures, chattels, and inventory and other personal property at Demised Premises to secure sums due Landlord hereunder, and Landlord may (thereupon take possession of any or all of the above, and Tenant shall not remove same from the Demised Premises without Landlord consent, and the same may be sold by Landlord and surplus proceeds after payment of arrears and costs of sale to Landlord shall be returned to Tenant. Sale may be public or private and with or without advertisement as Landlord may deem appropriate. Landlord may bid at sale. Tenant agrees not to create or suffer to be created, a lien on any alterations, improvements, or repairs to the Demised Premises. Landlord may, without notice, at its option, appropriate, sell, store or otherwise dispose of any personal property, inventory, fixtures, equipment and chattels left on or about the Demised Premises by Tenant after Tenant has vacated and/or after the Lease has been terminated or expired. Tenant to be responsible for costs of storage and disposition and shall as provided hereinbelow)have no rights to share in any of the net proceeds. At the Landlord's option, Tenant shall, at its expense, install, affix or assemble or place on any parcels remove from the Demised Premises the aforesaid items. This clause is intended to be supplementary to and not in limitation of the Land or in any of the Leased Improvements, any items of Tenant’s Personal Property and Tenant shall, subject to the conditions set forth below and except for any Tenant’s Personal Property that is purchased by Lessor pursuant to Section 37.2 below, remove the same upon the expiration or any prior termination of the Term. Tenant shall provide and maintain during the entire Term all such Tenant’s Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, 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. Lessor acknowledges that Leasehold Mortgagee has a security interest in Tenant’s Personal Property and, upon the expiration or earlier termination other clauses of this Lease as it relates to and in the event of a Leased Propertyconflict between the rights of Landlord in Tenant's inventory, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s Personal Propertyfixture, so long as Leasehold Mortgagee, at no expense to Lessor, repairs or causes to be repaired, any damage to such Leased Property caused by any such removalchattels, and further agrees to subordinatepersonal property created by this clause or any other clause in this Lease, and hereby subordinates, to that clause which creates the lien of Leasehold Mortgagee on such Tenant’s Personal Property any xxxx Xxxxxx has thereon. All of Tenant’s Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one days following the expiration or earlier termination of this Lease with respect to the applicable Leased Property where such Tenant’s Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be considered abandoned by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor without first giving notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose greatest rights of the same in accordance with applicable law. Tenant will, at its expense, restore such Leased Property to the condition required by Section 9.1(d), including repair of all damage to the Leased Property caused by the removal of Tenant’s Personal Property, whether effected by Tenant, Leasehold Mortgagee or LessorLandlord shall control.
Appears in 1 contract
Samples: Lease Agreement (Micronetics Inc)
Tenant’s Personal Property. Tenant may (and shall as -------------------------- provided hereinbelow), at its expense, install, affix or assemble or place on any parcels of the Land or in any of the Leased Improvements, any items of Tenant’s 's Personal Property and Tenant shall, subject to the conditions set forth below and except for any Tenant’s 's Personal Property that is purchased by Lessor pursuant to Section 37.2 below, remove the same upon the expiration or any prior ------------ termination of the Term. Tenant shall provide and maintain during the entire Term all such Tenant’s 's Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, 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. Lessor acknowledges that Leasehold Mortgagee has a security interest in Tenant’s 's Personal Property and, upon the expiration or earlier termination of this Lease as it relates to a Leased Property, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s 's Personal Property, so long as Leasehold Mortgagee, at no expense to Lessor, repairs or causes to be repaired, any damage to such Leased Property caused by any such removal, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on such Tenant’s 's Personal Property any xxxx Xxxxxx has thereon. All of Tenant’s 's Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one days following the expiration or earlier termination of this Lease with respect to the applicable Leased Property where such Tenant’s 's Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be considered abandoned ------------ by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor without first giving notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose disposed of the same in accordance with applicable law. Tenant will, at its expense, restore such Leased Property to the condition required by Section 9.1(d), including repair of -------------- all damage to the Leased Property caused by the removal of Tenant’s 's Personal Property, whether effected by Tenant, Leasehold Mortgagee or Lessor.
Appears in 1 contract
Tenant’s Personal Property. Tenant may (and shall as provided hereinbelow), at its expense, install, affix or assemble or place on any parcels of the Land or in any of the Leased Improvements, any items of Tenant’s 's Personal Property and Tenant shall, subject to the conditions set forth below and except for any Tenant’s 's Personal Property that is purchased by Lessor pursuant to Section 37.2 below, remove the same upon the expiration or any prior termination of the Term. Tenant shall provide and maintain during the entire Term all such Tenant’s 's Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, 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. Lessor acknowledges that Leasehold Mortgagee has a security interest in Tenant’s 's Personal Property and, upon the expiration or earlier termination of this Lease as it relates to a Leased Property, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s 's Personal Property, so long as Leasehold Mortgagee, at no expense to Lessor, repairs or causes to be repaired, any damage to such Leased Property caused by any such removal, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on such Tenant’s 's Personal Property any xxxx Xxxxxx has thereon. All of Tenant’s 's Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one days following the expiration or earlier termination of this Lease with respect to the applicable Leased Property where such Tenant’s 's Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be considered abandoned by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor without first giving notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose disposed of the same in accordance with applicable law. Tenant will, at its expense, restore such Leased Property to the condition required by Section 9.1(d), including repair of all damage to the Leased Property caused by the removal of Tenant’s 's Personal Property, whether effected by Tenant, Leasehold Mortgagee or Lessor.
Appears in 1 contract
Samples: Master Lease Agreement (Ventas Inc)
Tenant’s Personal Property. Tenant may (TENANT'S personal property and shall as provided hereinbelow), at its expense, install, affix or assemble or place effects are the TENANT'S sole responsibility throughout the tenancy. LANDLORD'S insurance will not cover TENANT'S personal property and TENANT agrees to carry his/her own insurance on any parcels such property and personal effects. All personal property of the Land tenant on said premises shall remain his sole responsibility and risk, and the Landlord shall not be liable for any damages to, or loss of such personal property arising from any acts of negligence of any other person, nor from the leaking of the roof, or from bursting, leaking, or overflowing of water, sewer, or from plumbing fixtures, or from the handling of electrical wires or fixtures, or from any cause whatsoever, nor shall the Landlord be liable for any injury to the tenant or other person in or about the premises, the tenant expressly agreeing to save the Landlord harmless in all such causes and events. ADDITIONAL PROVISIONS: UNAVAILABILITY OF PREMISES/DUPLICATE BOOKING/OTHER: If for any reason the Landlord is unable to provide the Premises in a fit and habitable condition or make the Premises available for this lease, the LANDLORD shall either A) provide and TENANT shall accept a substitute reasonably comparable property and LANDLORD shall pay any additional charges that would be due in excess of the rate for the original booking OR B) refund all rents and fees paid for the original booking together with a 15% (of base rental) override and cancel the lease with no further liability. It is hereby agreed that these are the only two alternatives and the sole remedy for any and all damages, liability or inconvenience arising out of LANDLORD's failure to make the Premises available. ACTS OF GOD/CONSTRUCTION NOISE: Landlord shall not be liable for events beyond their control which may interfere with Tenant's occupancy, such as Acts of God, acts of governmental agencies, fire, strikes, war, inclement weather and construction noise from nearby sites. NO REBATE OR REFUND will be offered in these circumstances. INSURANCE: Tenant agrees that Landlord shall not be liable for travel disruptions, Tenant's personal property or illness or injury. Tenant is strongly encouraged to purchase a Vacation Insurance Policy. Please ask us for referrals. RIGHT OF ENTRY: The Landlord, his agents or representatives shall have the right to enter the Premises during reasonable hours to inspect, make alterations and/or repairs, or to provide maintenance as Landlord may deem appropriate. TENANT acknowledges that routine care taking and grounds maintenance will occur periodically during the lease period. ABANDONED PERSONAL PROPERTY: When the TENANT vacates or abandons the property any personal property left behind on the premises shall be deemed abandoned by the TENANT and LANDLORD shall not be held responsible. During TENANT's occupancy TENANT is solely responsible for the security of all of TENANT's personal property and the LANDLORD shall not in any way be liable for loss, theft or damage of the Leased Improvementssame. Additionally, any items TENANT shall however, be responsible for LANDLORD's personal property under the TENANT's control by virtue of Tenant’s Personal Property this lease. If you leave something behind we will make every effort to locate it and Tenant shallreturn it to you C.O.D. Items unclaimed after thirty days will be donated to charity. DAMAGE/SECURITY DEPOSIT: May be applied to actual damages caused by TENANT, subject excess phone or cable charges, excessive cleaning charges, excess services required, fines imposed and/or costs of enforcing this lease. Within 30 days following the end of the tenancy the Damage/Security Deposit will be applied, accounted for or refunded to the conditions set forth below and except for any Tenant’s Personal Property that is purchased by Lessor pursuant TENANT. If the TENANT has provided a credit card, the TENANT hereby authorizes the LANDLORD to Section 37.2 below, remove the same upon the expiration or any prior termination of the Termcharge these charges to his/her account. Tenant shall provide and maintain during the entire Term all such Tenant’s Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, 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. Lessor acknowledges that Leasehold Mortgagee has a security interest in Tenant’s Personal Property and, upon the expiration or earlier termination of this Lease as it relates to a Leased Property, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s Personal Property, so long as Leasehold Mortgagee, at no expense to Lessor, repairs or causes to be repaired, report any damage noted upon arrival to such Leased Property caused by avoid any such removal, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on such Tenant’s Personal Property any xxxx Xxxxxx has thereon. All of Tenant’s Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one days following the expiration or earlier termination of this Lease with respect to the applicable Leased Property where such Tenant’s Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be considered abandoned by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor without first giving notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose of the same in accordance with applicable law. Tenant will, at its expense, restore such Leased Property to the condition required by Section 9.1(d), including repair of all damage to the Leased Property caused by the removal of Tenant’s Personal Property, whether effected by Tenant, Leasehold Mortgagee or LessorDamage/Security Deposit losses.
Appears in 1 contract
Samples: Vacation Home Rental Agreement
Tenant’s Personal Property. Tenant may (and shall as provided -------------------------- hereinbelow), at its expense, install, affix or assemble or place on any parcels of the Land or in any of the Leased Improvements, any items of Tenant’s 's Personal Property and Tenant shall, subject to the conditions set forth below and except for any Tenant’s 's Personal Property that is purchased by Lessor pursuant to Section 37.2 below, remove the same upon the expiration or any prior termination ------------ of the Term. Tenant shall provide and maintain during the entire Term all such Tenant’s 's Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, 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. Lessor acknowledges that Leasehold Mortgagee has a security interest in Tenant’s 's Personal Property and, upon the expiration or earlier termination of this Lease as it relates to a Leased Property, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s 's Personal Property, so long as Leasehold Mortgagee, at no expense to Lessor, repairs or causes to be repaired, any damage to such Leased Property caused by any such removal, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on such Tenant’s 's Personal Property any xxxx Xxxxxx has thereon. All of Tenant’s 's Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one days following the expiration or earlier termination of this Lease with respect to the applicable Leased Property where such Tenant’s 's Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be considered abandoned by Tenant ------------ and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor without first giving notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose disposed of the same in accordance with applicable law. Tenant will, at its expense, restore such Leased Property to the condition required by Section 9.1(d), including repair of all damage to the -------------- Leased Property caused by the removal of Tenant’s 's Personal Property, whether effected by Tenant, Leasehold Mortgagee or Lessor.
Appears in 1 contract
Tenant’s Personal Property. Tenant may (and shall as provided -------------------------- hereinbelow), at its expense, install, affix or assemble or place on any parcels of the Land or in any of the Leased Improvements, any items of Tenant’s 's Personal Property and Tenant shall, subject to the conditions set forth below and except for any Tenant’s 's Personal Property that is purchased by Lessor pursuant to Section 37.2 below, remove the same upon the expiration or any prior termination ------------ of the Term. Tenant shall provide and maintain during the entire Term all such Tenant’s 's Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, 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. Lessor acknowledges that Leasehold Mortgagee has a security interest in Tenant’s 's Personal Property and, upon the expiration or earlier termination of this Lease as it relates to a Leased Property, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s 's Personal Property, so long as Leasehold Mortgagee, at no expense to Lessor, repairs or causes to be repaired, any damage to such Leased Property caused by any such removal, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on such Tenant’s 's Personal Property any xxxx Xxxxxx has thereon. All of Tenant’s 's Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one days following the expiration or earlier termination of this Lease with respect to the applicable Leased Property where such Tenant’s 's Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be ------------ considered abandoned by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor without first giving notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose disposed of the same in accordance with applicable law. Tenant will, at its expense, restore such Leased Property to the condition required by Section 9.1(d), -------------- including repair of all damage to the Leased Property caused by the removal of Tenant’s 's Personal Property, whether effected by Tenant, Leasehold Mortgagee or Lessor.
Appears in 1 contract
Tenant’s Personal Property. Tenant may (and shall as -------------------------- provided hereinbelow), at its expense, install, affix or assemble or place on any parcels of the Land or in any of the Leased Improvements, any items of Tenant’s 's Personal Property and Tenant shall, subject to the conditions set forth below and except for any Tenant’s 's Personal Property that is purchased by Lessor pursuant to Section 37.2 below, remove the same upon the expiration or any prior ------------ termination of the Term. Tenant shall provide and maintain during the entire Term all such Tenant’s 's Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, 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. Lessor acknowledges that Leasehold Mortgagee has a security interest in Tenant’s 's Personal Property and, upon the expiration or earlier termination of this Lease as it relates to a Leased Property, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s 's Personal Property, so long as Leasehold Mortgagee, at no expense to Lessor, repairs or causes to be repaired, any damage to such Leased Property caused by any such removal, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on such Tenant’s 's Personal Property any xxxx Xxxxxx has thereon. All of Tenant’s 's Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one days following the expiration or earlier termination of this Lease with respect to the applicable Leased Property where such Tenant’s 's Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be ------------ considered abandoned by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor without first giving notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose disposed of the same in accordance with applicable law. Tenant will, at its expense, restore such Leased Property to the condition required by Section 9.1(d), -------------- including repair of all damage to the Leased Property caused by the removal of Tenant’s 's Personal Property, whether effected by Tenant, Leasehold Mortgagee or Lessor.
Appears in 1 contract
Tenant’s Personal Property. Except for the Tenant Improvement Work and Approved Additional Items which may not be removed pursuant to Section 9.5, and except for ceiling and related fixtures, HVAC equipment and floor coverings, all of which shall become the property of Landlord at the end of the Term, all other furniture, trade fixtures, furnishings, equipment and articles of movable personal property installed in the Premises by or for the account of Tenant, and which can be removed without structural or other material damage to the Premises (and shall as provided hereinbelowcollectively, "Tenant's Personal Property"), plus any Alterations and Approved Additional Items not paid for with the Tenant Improvement Allowance which can be removed without structural or other material damage to the Premises, may be removed by Tenant at its expense, install, affix or assemble or place on any parcels time during the Term (subject to the requirements of this Article 9). Tenant shall remove from the Land or in any of the Leased Improvements, any items of Premises all Tenant’s 's Personal Property and any Alterations that Tenant shall, subject is permitted to and chooses to remove pursuant to the conditions set forth below and except for any Tenant’s Personal Property that is purchased by Lessor pursuant to Section 37.2 below, remove terms of this Article 9 on or before the same upon the expiration or any prior termination of the TermTermination Date. Tenant shall provide and maintain during repair or pay the entire Term all such Tenant’s Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, 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. Lessor acknowledges that Leasehold Mortgagee has a security interest in Tenant’s Personal Property and, upon the expiration or earlier termination cost of this Lease as it relates to a Leased Property, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s Personal Property, so long as Leasehold Mortgagee, at no expense to Lessor, repairs or causes to be repaired, repairing any damage to such Leased Property caused by any the Premises resulting from such removal, and further agrees the provisions of Section 9.5 above shall apply in the event Tenant fails to subordinate, and hereby subordinates, to the lien do so. Any items of Leasehold Mortgagee on such Tenant’s 's Personal Property any xxxx Xxxxxx has thereon. All of which remain in the Premises after the Termination Date may, on five (5) business days prior written notice to Tenant’s Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one days following the expiration or earlier termination of this Lease with respect to the applicable Leased Property where such Tenant’s Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be considered abandoned by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor without first giving notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose of the same in accordance with applicable law. Tenant will, at the option of Landlord, be deemed abandoned and in such case may either be retained by Landlord as its expenseproperty or be disposed of, restore without accountability, at Tenant's expense in such Leased Property to the condition required by Section 9.1(d), including repair of all damage to the Leased Property caused by the removal of Tenant’s Personal Property, whether effected by Tenant, Leasehold Mortgagee or Lessormanner as Landlord may see fit.
Appears in 1 contract
Samples: Commercial Lease (Telik Inc)
Tenant’s Personal Property. as Security for Landlord
a) Tenant may (hereby waives and renounces the benefit of any present or future statute taking away or limiting or purporting to limit Landlord’s right of distress and agrees with Landlord that, notwithstanding any such statute, all goods and chattels from time to time on the Premises shall as provided hereinbelow), at its expense, install, affix or assemble or place on any parcels be subject to distress for Rent and the fulfillment of the Land or in any of the Leased Improvements, any items all of Tenant’s Personal Property obligations under this Lease in the same manner as if such statute had not been passed.
b) In addition to any other rights of Landlord to distrain. Landlord shall have the right to distrain for any arrears of Rent all goods and chattels, including without limitation all heavy or connected machinery and equipment. Landlord may exercise any right of distress on the Premises and for such purpose may lock the Premises, change any locks on the Premises and by any means exclude Tenant from all or any parts of the Premises and Landlord shall not thereby be terminating this Lease in the absence of express written notice terminating this Lease. Tenant consents to being excluded by Landlord from all or any parts of the Premises for purposes of Landlord’s exercising any right of distress. Xxxxxx further agrees that distress of all or any goods and chattels may be effected by written notice whether or not Landlord locks or otherwise secures such goods or chattels from Tenant on the Premises or elsewhere. If Landlord effects distress by written notice or any other means, Xxxxxx agrees not to remove or permit to be removed any distrained goods or chattels and not to interfere with the exercise of any right of distress. Xxxxxx agrees that Xxxxxxxx’s exercise of any right of distress as permitted hereby or at law shall not constitute a trespass or breach of any express or implied term of this Lease. Landlord shall not be liable for loss or damage to goods or chattels against which distress is levied no matter how caused except to the extent of direct (and not indirect or consequential) damage caused by the gross negligence of Landlord or its employees; but Landlord shall not be liable for any loss or damage caused by its bailiff or any agent through negligence or otherwise. In exercising any right of distress, Landlord may distrain against all or any goods or chattels, irrespective of whether or of the degree to which the same may be excessive and Tenant shallwaives any and all rights and remedies in respect thereof, subject including all rights under the Commercial Tenancies Act, R.S.O. 1990, Chapter L.7 (Ontario). In exercising any right of distress, Landlord may hold all distrained goods or chattels without limit in time and Tenant waives all rights and remedies in respect thereof. In addition to others entitled to do so, Landlord and its agents and employees shall have the conditions set forth below and except for right to purchase any Tenant’s Personal Property that is purchased goods or chattels on the Premises distrained by Lessor pursuant to Section 37.2 below, remove the same upon the expiration or any prior termination of the Term. Tenant shall provide and maintain during the entire Term all such Tenant’s Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, 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. Lessor acknowledges that Leasehold Mortgagee has a security interest in Tenant’s Personal Property and, upon the expiration or earlier termination of this Lease as it relates to a Leased Property, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s Personal Property, Landlord so long as Leasehold Mortgageethe price paid by Landlord or its agents or employees is reasonably comparable to that which might reasonably be obtained by sale under distress to an arm’s length third party.
c) If any goods or chattels of Tenant shall be removed from the Premises, Landlord shall have the right to follow the same and exert against the same all of its rights as if such goods and chattels had remained on the Premises, such right of Landlord to include, without limitation, the right to follow such goods and chattels for thirty (30) days in the same manner as is provided for in the Commercial Tenancies Act, R.S.O. 1990, Chapter L.7.
d) Xxxxxx agrees that all of its personal property of any kind on the Premises shall at no expense to Lessor, repairs or causes to all times during the Term be repaired, any damage to such Leased Property caused by any such removal, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on such Tenant’s Personal Property any xxxx Xxxxxx has thereon. All unencumbered property of Tenant’s Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one days following the expiration or earlier termination of this Lease with respect to the applicable Leased Property where such Tenant’s Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be considered abandoned by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor without first giving notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose of the same in accordance with applicable law. Tenant will, at its expense, restore such Leased Property to the condition required by Section 9.1(d), including repair of all damage to the Leased Property caused by the removal of Tenant’s Personal Property, whether effected by Tenant, Leasehold Mortgagee or Lessor.
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Tenant’s Personal Property. Tenant assumes all risk of loss or damage to Tenaxx'x Xroperty. Tenant assumes the risk that loss or damage to Tenaxx'x Xroperty, to the Premises or to the Property may result in loss of income, profits or goodwill to the business of Tenant or other persons interested in Tenant's Property. Tenant releases and holds Landlord harmless from liability for these losses or damage, except arising out of Landlord's gross negligence or willful misconduct. Tenant's Property includes all goods, equipment, inventory, merchandise, records and other personal property and all fixtures, improvements and betterments placed in or about the Premises, belonging to Tenant or any person connected with, or claiming under or through Tenant. Tenaxx xxxees to indemnify Landlord and save it harmless from all loss or claims, including reasonable attorneys fees and costs in defending a claim, arising out of loss or damage to Tenaxx'x Xroperty belonging to others. Landlord means Landlord, its employees and agents. TENANT SHALL PROVIDE INSURANCE TO THE EXTENT OF NOT LESS THAN NINETY PERCENT (and shall as provided hereinbelow90%) OF THE FAIR MARKET VALUE OF TENANT'S PROPERTY AS APPRAISED BY TENANT'S INSURER(S), at its expenseWITH AN AGREED AMOUNT ENDORSEMENT. TENANT, installAT ITS SOLE COST AND EXPENSE, affix or assemble or place on any parcels SHALL OBTAIN THE INSURANCE COVERAGES NECESSARY TO PROVIDE PROTECTION FOR THE RISKS AND OBLIGATIONS TO INDEMNIFY ASSUMED BY TENANT AND SHALL MAINTAIN SUCH INSURANCE FOR THE LEASE TERM. TENANT AGREES TO NOTIFY EACH INSURANCE CARRIER OF THE TENANT'S ASSUMPTION OF RISK, RELEASE AND INDEMNIFICATION STATED ABOVE. TENANT ACKNOWLEDGES THAT ITS INSURANCE COVERAGES COULD BE VOIDED OR OTHERWISE ADVERSELY AFFECTED BY THE FOREGOING PARAGRAPH UNLESS THE INSURANCE CARRIER HAS WAIVED ITS RIGHT OF SUBROGATION OR HAS OTHERWISE AGREED TO THE ABOVE ASSUMPTION OF RISK, RELEASE AND HOLD HARMLESS AGREEMENT AND INDEMNIFICATION.
(a) TENANT'S INSURANCE POLICIES: Insurance carried by Tenant will be with responsible carriers acceptable to Landlord and licensed in the State in which the Property is located. The Tenant will deliver to Landlord certified copies of the Land policies of insurance or in any certificates evidencing the existence and amounts of the Leased Improvements, any items insurance. No policy shall be cancelable or subject to reduction of Tenant’s Personal Property and coverage or other modification except after 30 days prior written notice to Landlord. Tenant shall, subject at least 30 days prior to the conditions set forth below expiration of the policies, furnish Landlord with renewals or "Binders" for the policies, or Landlord may order the required insurance and except for any Tenant’s Personal Property that is purchased by Lessor charge the cost to Tenant pursuant to Section 37.2 below, remove the same upon the expiration or any prior termination of the Term. Tenant shall provide and maintain during the entire Term all such Tenant’s Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, 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. Lessor acknowledges that Leasehold Mortgagee has a security interest in Tenant’s Personal Property and, upon the expiration or earlier termination of this Lease as it relates to a Leased Property, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s Personal Property, so long as Leasehold Mortgagee, at no expense to Lessor, repairs or causes to be repaired, any damage to such Leased Property caused by any such removal, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on such Tenant’s Personal Property any xxxx Xxxxxx has thereon. All of Tenant’s Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one days following the expiration or earlier termination of this Lease with respect to the applicable Leased Property where such Tenant’s Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be considered abandoned by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor without first giving notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose of the same in accordance with applicable law. Tenant will, at its expense, restore such Leased Property to the condition required by Section 9.1(d), including repair of all damage to the Leased Property caused by the removal of Tenant’s Personal Property, whether effected by Tenant, Leasehold Mortgagee or LessorParagraph 23.
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Tenant’s Personal Property. Tenant may (and shall as provided hereinbelow), at its expense, install, affix or assemble or place on any parcels of the Land or in any of the Leased Improvements, any items of Tenant’s Personal Property and Tenant shall, subject to the conditions set forth below and except for any Tenant’s Personal Property that is purchased by Lessor pursuant to Section 37.2 below, remove the same upon the expiration or any prior termination of the Term. Tenant shall provide and maintain during (or cause to be provided and maintained) throughout the entire Term all such Tenant’s Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, in compliance with all applicable material Legal Requirements and Insurance Requirements and otherwise in accordance with customary practice in the industry for the Primary Intended Permitted Use. Lessor acknowledges that Leasehold Mortgagee has a security interest In furtherance, but not in Tenant’s Personal Property andlimitation of, upon the expiration or earlier termination of this Lease as it relates foregoing, Tenant shall have the right in its sole and absolute discretion from time to a Leased Propertytime to install, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to alter, remove such Tenant’s Personal Property, so long as Leasehold Mortgagee, at no expense to Lessor, repairs or causes to be repaired, any damage to such Leased Property caused by any such removal, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on and/or replace such Tenant’s Personal Property as it shall deem to be useful or desirable in connection with its business in the Leased Property. Tenant and its subtenants further shall have the right to enter into such agreements and assignments with respect to Tenant’s Personal Property as are necessary for Tenant or its subtenant to lease or obtain such financing for Tenant’s Personal Property as Tenant or its subtenant shall desire. Landlord shall execute such landlord consents and other agreements as shall be reasonably requested by Tenant in connection with any xxxx Xxxxxx such agreements and arrangements provided, however, that Tenant shall reimburse Landlord, within ten (10) days of invoice therefor, for any costs incurred by Landlord in connection with such consents and agreements and any consents or agreements executed by Landlord pursuant to this paragraph shall impose no obligations or liabilities on Landlord nor adversely affect any of Landlord’s rights under this Agreement. To the extent required by Tenant’s lessor or lender thereof, Landlord shall subordinate to the rights of such lessor or lender Landlord’s rights under Article 15 of this Agreement and any right which Landlord now has thereon. All or may hereafter have under Applicable Law to levy or distrain upon any of Tenant’s Personal Property not removed by Tenant for rent or Leasehold Mortgagee within twenty-one days following the expiration to claim or earlier termination of this Lease with respect assert title to the applicable Leased Property where such Tenant’s Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be considered abandoned by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor without first giving notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose of the same in accordance with applicable law. Tenant will, at its expense, restore such Leased Property to the condition required by Section 9.1(d), including repair of all damage to the Leased Property caused by the removal of Tenant’s Personal Property, whether effected by Tenant, Leasehold Mortgagee or Lessorsubject to such lender to agreeing to terms consistent with the provisions of Section 7.2.
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Tenant’s Personal Property. If Landlord repossesses the Leased Premises pursuant to the authority granted in Section 7.1 above, or if Tenant may (and shall as provided hereinbelow), at its expense, install, affix vacates or assemble abandons all or place on any parcels of the Land or in any part of the Leased ImprovementsPremises, then, in addition to Landlord’s rights under Section 7.1(b) hereof, Landlord shall have the right to (a) keep in place (and charge Tenant reasonable rent for such storage thereof) or (c) use or (b) remove and store, at Tenant’s cost and expense, all of the furniture, fixtures and equipment at the Leased Premises, including that which is owned by or leased to Tenant, at all times prior to foreclosure thereon by Landlord or repossession thereof by any items lessor thereof or third party having a lien thereon. In addition to Landlord’s other rights hereunder, Landlord may dispose of the stored property, at Tenant’s cost and expense, if Tenant does not claim the property within twenty (20) days after the date the property is stored. Landlord shall provide Tenant with at least twenty (20) days prior written notice of such intended disposition. After notice to Tenant and a reasonable opportunity to make claim to the property, Landlord shall also have the right to relinquish possession of all or any portion of such furniture, fixtures, equipment and other property to any person (“Claimant”) who presents to Landlord a copy of any instrument represented by Claimant to have been executed by Tenant (or any predecessor of Tenant) granting Claimant the right to take possession of such furniture, fixtures, equipment or other property, without the necessity on the part of Landlord to inquire into the authenticity or legality of said instrument. The rights of Landlord under this Section 7.2 shall be in addition to any and all other rights that Landlord has or may hereafter have at law or in equity. Notwithstanding the foregoing, Landlord shall not assert any lien claims or rights of retention (or rights of destruction) as to Tenant’s medical or study subject records, clinical protocols, study reports, study compliance materials, client information or materials, or other clinical study data (whether stored in hard form or electronic media), nor to any biological or pharmacological materials that Tenant is required to maintain pursuant to any study protocol or governmental regulation; and promptly upon written request, and in any event prior to the disposition of Tenant’s Personal Property and Tenant shallproperty by Landlord as provided above, subject to the conditions set forth below and except for any Tenant’s Personal Property that is purchased by Lessor pursuant to Section 37.2 below, remove the same upon the expiration or any prior termination of the Term. Tenant shall provide be entitled (and maintain during the entire Term afforded a reasonable opportunity) to retrieve all such Tenant’s Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, 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. Lessor acknowledges that Leasehold Mortgagee has a security interest in Tenant’s Personal Property and, upon the expiration or earlier termination of this Lease as it relates to a Leased Property, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s Personal Property, so long as Leasehold Mortgagee, at no expense to Lessor, repairs or causes to be repaired, any damage to such Leased Property caused by any such removal, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on such Tenant’s Personal Property any xxxx Xxxxxx has thereon. All of Tenant’s Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one days following the expiration or earlier termination of this Lease with respect to the applicable Leased Property where such Tenant’s Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be considered abandoned by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor without first giving notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose of the same in accordance with applicable law. Tenant will, at its expense, restore such Leased Property to the condition required by Section 9.1(d)materials, including repair all of all damage to the Leased Property caused by the removal of Tenant’s Personal Property, whether effected by Tenant, Leasehold Mortgagee its electronic or Lessorcomputer files.
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Samples: Lease Agreement (Pharmaceutical Product Development Inc)
Tenant’s Personal Property. Tenant may (and shall as provided hereinbelow), at its expense, install, affix or assemble or place on any parcels of the Land or in any of the Leased Improvements, any items of Tenant’s Personal Property and Tenant shall, subject to the conditions set forth below and except for any Tenant’s Personal Property that is purchased by Lessor pursuant to Section 37.2 below, remove the same upon the expiration or any prior termination of the Term. Tenant shall provide and maintain during the entire Term all such TenantPersonal Property, in addition to Landlord’s Personal Property Property, as shall be necessary and appropriate in order to operate each Facility the Facilities for the Primary Intended Use in compliance with all licensure and certification requirements, in compliance with all applicable Legal Requirements and Insurance Requirements and otherwise in accordance with customary practice in the industry for the Primary Intended UseUse (“Tenant’s Personal Property”). Lessor acknowledges that Leasehold Mortgagee has a security interest in Except to the extent specifically allowed under Section 8.2.1.4 of this Lease, without the prior written consent of Landlord, which consent shall not be unreasonably withheld, Tenant shall not permit or suffer Tenant’s Personal Property andto be subject to any lien, charge, encumbrance, financing statement or contract of sale or the like other A request for confidential treatment has been made with respect to portions of this document that are marked ‘[*****]’. The redacted portions have been filed separately with the SEC. 33 Master Lease (OHI - Diversicare) Derwent – 9.25.18 than that provided for in Section 6.3 below. Except for those items of Personal Property listed on Schedule 6.3 which shall at all times belong to and may be removed by Tenant, upon the expiration of the Term or the earlier termination of this Lease as it relates Lease, without the payment of any additional consideration by Landlord, Tenant shall be deemed to a Leased Propertyhave sold, Lessor agrees assigned, transferred and conveyed to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s Personal Property, so long as Leasehold Mortgagee, at no expense to Lessor, repairs or causes to be repaired, any damage to such Leased Property caused by any such removal, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on such Tenant’s Personal Property any xxxx Xxxxxx has thereon. All Landlord all of Tenant’s Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one days following the expiration or earlier termination of this Lease with respect right, title and interest in and to the applicable Leased Property where such Tenant’s Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be considered abandoned by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise disposed of by Lessor without first giving notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose of the same in accordance with applicable law. Tenant will, at its expense, restore such Leased Property to the condition required by Section 9.1(d), including repair of all damage to the Leased Property caused by the removal of Tenant’s Personal Property. In connection with any Personal Property sold, whether effected assigned, transferred or conveyed to Landlord pursuant to the preceding sentence, Landlord shall have the option to assume, or cause the new operator to assume, any lease or equipment financing obligations of Tenant permitted under Section 8.2.1.4 hereof. If such option is not exercised, then such Personal Property shall not be sold, assigned, transferred or conveyed to Landlord. Both parties agree that Landlord owns as of the Commencement Date, and will own all of the Personal Property at the Facilities as of the expiration of the Term or the earlier termination of this Lease, except for those items of Personal Property listed on Schedule 6.3, equipment that is leased or financed pursuant Section 8.2.1.4 of this Lease, and those items of Personal Property previously owned by Tenanta tenant under the Existing Leases that is not fully depreciated. Both parties further agree that, Leasehold Mortgagee notwithstanding anything in the Expiring Lease to the contrary and for the purpose of the continued leasing of the Facilities by Tenant under this Lease, Tenant will continue to own all of the Personal Property at the Facilities on the Commencement Date that for accounting purposes has not been fully depreciated by Tenant as of the Commencement Date until the earlier of (i) the expiration of the Term, (ii) the earlier termination of this Lease, or Lessor(ii) the date such item of Personal Property is fully depreciated, at which time it shall automatically become the property of Landlord.
Appears in 1 contract
Samples: Master Lease (Diversicare Healthcare Services, Inc.)
Tenant’s Personal Property. If Landlord repossesses the Premises -------------------------- pursuant to the authority herein granted, or if Tenant may vacates or abandons all or any part of the Premises at any time when Tenant is in default of the rental --------------------------------------------------- payments due under this Lease, then, in addition to Landlord's rights under ----------------------------- Paragraph 27 hereof, Landlord shall have the right to (i) remove and shall as provided hereinbelow)store, all of the furniture, fixtures and equipment at the Premises, including that which is owned by or leased to Tenant, at its expense, install, affix all times prior to any foreclosure thereon by Landlord or assemble repossession thereof by any lessor thereof or place on any parcels of the Land or in any of the Leased Improvements, any items of Tenant’s Personal Property and Tenant shall, subject third party having a lien thereon. In addition to the conditions set forth below and except for any Tenant’s Personal Property that is purchased by Lessor pursuant to Section 37.2 belowLandlord's other rights hereunder, remove the same upon the expiration or any prior termination of the Term. Tenant shall provide and maintain during the entire Term all such Tenant’s Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, 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. Lessor acknowledges that Leasehold Mortgagee has a security interest in Tenant’s Personal Property and, upon the expiration or earlier termination of this Lease as it relates to a Leased Property, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s Personal Property, so long as Leasehold Mortgagee, at no expense to Lessor, repairs or causes to be repaired, any damage to such Leased Property caused by any such removal, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on such Tenant’s Personal Property any xxxx Xxxxxx has thereon. All of Tenant’s Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one days following the expiration or earlier termination of this Lease with respect to the applicable Leased Property where such Tenant’s Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be considered abandoned by Tenant and Leasehold Mortgagee and Landlord may be appropriated, sold, destroyed or otherwise disposed of by Lessor without first giving notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose of the same in accordance with applicable lawstored property if Tenant does not claim the property within ten (10) days after the date the property is stored. Landlord shall give Tenant will, at its expense, restore least ten (10) days prior written notice of such Leased Property intended disposition. Landlord shall also have the obligation to the condition required by Section 9.1(d), including repair relinquish possession of all damage or any portion of such furniture, ---------- fixtures, equipment and other property to the Leased Property caused any person ("Claimant") who presents to Landlord a copy of any instrument represented by the removal Claimant to have been executed by Tenant (or any predecessor of Tenant’s Personal Property) granting Claimant the right under various circumstances to take possession of such furniture, whether effected fixtures, equipment or other property, without the necessity on the part of Landlord to inquire into the authenticity or legality of said instrument. The rights of Landlord herein stated shall be in addition to any and all other rights that Landlord has or may hereafter have at law or in equity, and Tenant stipulates and agrees that the rights granted Landlord under this paragraph are commercially reasonable. The Landlord's rights hereunder are subject and ----------------------------------------------- subordinate to any prior lien rights held by any creditor of Tenant on the -------------------------------------------------------------------------- personal property within the Premises. Upon the written request from time to ---------------------------------------------------------------------------- time from Tenant or any of its lenders, Landlord agrees to subordinate its lien ------------------------------------------------------------------------------- to any lenders providing general operating capital to Tenant, Leasehold Mortgagee or Lessor.. -------------------------------------------------------------
Appears in 1 contract
Samples: Lease Agreement (Clearcommerce Corp)
Tenant’s Personal Property. All trade fixtures and equipment installed by Tenant may in the Premises (if any) shall be new or completely reconditioned and shall as provided hereinbelow)shall, at its expensealong with Xxxxxx's merchandise, install, affix or assemble or place on any parcels of remain the Land or in any of the Leased Improvements, any items personal property of Tenant’s Personal Property and . Tenant shall, subject at the expiration of the Term and upon vacating the Premises, remove all its trade fixtures and personal property that is removable without injury to or defacement of the Premises, and provided all Rent is paid in full and Tenant is not otherwise in default under this Lease, and further provided that any damage to the conditions set forth below and except Premises or the Shopping Center resulting from such removal shall be simultaneously repaired at Tenant's expense. Xxxxxx agrees that all Xxxxxx's personal property in the Premises shall be at the sole risk of Tenant and/or those claiming under Tenant. Landlord shall not be responsible to Tenant for any loss that may be occasioned by the acts or omissions of persons occupying any space adjacent to or adjoining Tenant’s Personal Property that is purchased by Lessor pursuant 's Premises, or be liable to Section 37.2 belowTenant for any loss resulting to Tenant, remove the same upon the expiration or any prior termination of Tenant's property, caused in any manner whatsoever. If the Term. Tenant shall provide does not remove its trade fixtures and maintain during the entire Term all such Tenant’s Personal Property as shall be necessary in order to operate each Facility in compliance with all licensure and certification requirements, 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. Lessor acknowledges that Leasehold Mortgagee has a security interest in Tenant’s Personal Property and, upon personal property at the expiration or earlier termination of this Lease as it relates to a Leased PropertyLease, Lessor agrees to permit Leasehold Mortgagee to enter on such Leased Property in order to remove such Tenant’s Personal Property, so long as Leasehold Mortgageetrade fixtures and personal property shall, at no expense the option of the Landlord, be deemed to Lessorhave been abandoned and become the property of the Landlord without payment of any compensation therefor, repairs or causes to be repaired, any damage to such Leased Property caused by any such removal, and further agrees to subordinate, and hereby subordinates, to the lien of Leasehold Mortgagee on such Tenant’s Personal Property any xxxx Xxxxxx has thereon. All of Tenant’s Personal Property not removed by Tenant or Leasehold Mortgagee within twenty-one days following the expiration or earlier termination of this Lease with respect to the applicable Leased Property where such Tenant’s Personal Property is located or sold to Lessor pursuant to Section 37.2 below shall be considered abandoned by Tenant and Leasehold Mortgagee and may be appropriated, sold, destroyed or otherwise removed from the Premises and disposed of by Lessor without first giving notice thereof to Tenant or Leasehold Mortgagee and without any payment to Tenant or Leasehold Mortgagee and without any obligation to account therefor or otherwise dispose of the same in accordance with applicable lawLandlord as it deems advisable at the Tenant’s sole cost. Tenant will, at its expense, restore such Leased Property to waives any claim against the condition required by Section 9.1(d), including repair of all Landlord for damage to abandoned property, as well as the Leased Property caused by the removal of Tenant’s Personal Propertyright to sue for failure to comply with Chapter 715, whether effected by Tenant, Leasehold Mortgagee or LessorFlorida Statutes.
Appears in 1 contract
Samples: Lease Agreement