Use and Condition Clause Samples
The 'Use and Condition' clause defines how a product, service, or property may be used and sets the specific conditions or limitations for such use. It typically outlines acceptable and prohibited activities, such as restricting commercial exploitation, requiring compliance with laws, or mandating proper maintenance. By clearly specifying these terms, the clause helps prevent misuse, ensures both parties understand their rights and obligations, and reduces the risk of disputes over improper use.
Use and Condition. So long as no Event of Default shall exist and until the Pledgors have received notice from the Secured Party pursuant to Section 4.1(c) of this Agreement, the Pledgors shall be entitled to receive and retain cash dividends distributed in respect of the Pledged Securities; provided that, unless the Pledgors obtain the prior written consent of the Secured Party, any: (i) non-cash dividends, instruments, and other property received or otherwise distributed in respect of or in substitution for any Pledged Securities; (ii) cash dividends and other distributions in connection with a partial or total liquidation or dissolution of the issuer of the Pledged Securities; and (iii) cash distributed in respect of a redemption of, or in exchange for, any Pledged Securities, shall be promptly delivered to the Secured Party and shall, if received by the Pledgors, be received in trust for the benefit of the Secured Party, be segregated from the other property or funds of the Pledgor, and be promptly delivered to the Secured Party.
(a) The Pledgors shall not permit AMS to declare or distribute, and AMS shall not declare or distribute, cash dividends or other distributions during any fiscal quarter or fiscal year of AMS, as applicable, in excess of, in the aggregate, the net income of AMS for such fiscal quarter or fiscal year, as applicable. Any dividends or distributions made in violation of the foregoing shall be promptly delivered to the Secured Party as prepayment of the Notes.
(b) With regard to the Pledged Securities, so long as no Event of Default shall exist and until the Pledgors have received notice from the Secured Party pursuant to Section 4.1(d) of this Agreement, the Pledgors shall be entitled to exercise any voting and other consensual rights pertaining to the Pledged Securities for any purpose not inconsistent with the terms of this Agreement. The Secured Party shall execute and deliver (or cause to be executed and delivered) to the Pledgors all proxies and other instruments that the Pledgors may reasonably request to enable the Pledgors to exercise the voting and other rights which it is entitled to exercise hereunder and to receive the dividends, which they are authorized to receive and retain hereunder.
Use and Condition. Sublessee may use the Sublet Premises only for general office purposes as permitted by the Prime Lease and for no other purpose, Sublessor shall maintain the Sublet Premises in its current condition, reasonable wear and tear excepted, from the effective date hereof until the date of delivery of possession. To the best of Sublessor's knowledge, there are no material defects in the Sublet Premises or any reason they cannot be used for the purposes intended for the term of this Sublease. Upon expiration of the term of this Sublease, Sublessee shall return the Sublet Premises to Sublessor in the same condition as when possession was granted, reasonable wear and tear excepted.
Use and Condition. (a) The Subleased Premises are to be used only for general office purposes and for no other business or purpose without the express written consent of Sublandlord.
(b) Subtenant acknowledges they will take the space "as is", "where- is".
Use and Condition. OF THE PROPERTY 4 (a) Use 4 (b) Condition of the Property 4 (c) Consideration for and Scope of Waiver 4
Use and Condition. (a) The Demised Premises shall be used solely for general and executive offices. If Tenant's use as provided for herein is prohibited by Landlord, Tenant may terminate this Lease. Landlord shall not prohibit such use except upon a bona fide default notice duly given from the City of New York or The South Street Seaport Corporation, their successors or assigns, based upon the City Lease or the Office Development Lease (said Leases being defined in Section 13(a)) or any other agreement, law, rule or ordinance by which the Building, Landlord or Tenant may be bound.
(b) In recognition of the historic and cultural importance of the South Street Seaport and in accordance with the provisions of the Office Development Lease (as hereinafter defined), Tenant shall use the Demised Premises exclusively as offices and Tenant shall neither use nor occupy, nor permit or suffer the Demised Premises or any part thereof, to be used or occupied for any unlawful or illegal business, use or purpose, or for any business, use or purpose which is immoral or disreputable or extra-hazardous, or in such a manner as to constitute a nuisance of any kind (public or private) or that would in any way adversely affect the public standing or good reputation of Landlord or any other person associated with South Street Seaport.
(c) Landlord makes no representations, express or implied, as to the condition of the Demised Premises and Tenant agrees to accept the same in "AS IS" condition on the Commencement Date. Landlord shall have no obligation to perform any work in order to prepare the Demised Premises for Tenant's occupancy.
(d) Except as otherwise specifically provided for in Section 2(b) of this Lease, Tenant hereby waives any right to terminate, cancel or rescind this Lease by reason of Owner's failure to deliver possession of the Demised Premises or otherwise perform its obligations under this Article, which Tenant might otherwise have pursuant to any law now or hereafter in force or otherwise. Tenant further waives the right to recover any damages which may result from Landlord's failure to deliver possession of the Demised Premises or otherwise to perform its obligations under this Article. The provisions of this Article shall be considered an express provision to the contrary pursuant to New York REAL PROPERTY LAW Section 223-(a) governing delivery of possession of the Demised Premises and any law providing for such a contingency in the absence of such express agreement now or here...
Use and Condition. (a) So long as no Default or Event of Default shall exist and be continuing and until the Borrower has received notice from the Secured Party pursuant to Section 4.1(c) of this Agreement (which notice the Borrower shall promptly forward to the Pledgors), each Pledgor shall be entitled to receive and retain any cash dividends or distributions distributed in respect of the Pledged Interests of such Pledgor, provided that any: (i) non-cash dividends, distributions, instruments, and other property received or otherwise distributed in respect of or in substitution for any such Pledged Interests; (ii) cash dividends and other distributions in connection with a partial or total liquidation or dissolution of any Partnership or in
(b) With regard to the Pledged Interests of each Pledgor, so long as no Default or Event of Default shall exist and be continuing and until the Borrower has received notice from the Secured Party pursuant to Section 4.1(d) of this Agreement (which notice the Borrower shall promptly forward to the Pledgors), each Pledgor shall be entitled to exercise any voting and other consensual rights pertaining to the Pledged Interests of such Pledgor for any purpose not inconsistent with the terms of this Agreement. The Secured Party shall execute and deliver (or cause to be executed and delivered) to such Pledgor any instruments that such Pledgor may reasonably request to enable such Pledgor to exercise the voting and other rights which it is entitled to exercise hereunder and to receive the dividends, distributions, or interest payments which it is authorized to receive and retain hereunder.
Use and Condition. 2.1. If any governmental license or permit, other than a Certificate of Occupancy, shall be required for the proper and lawful conduct of Tenant's business in the Demised Premises, or any part thereof, and if failure to secure such license or permit would in any way affect Landlord, Tenant, at its' expenses, shall duly procure and thereafter maintain such license or permit and submit the same to inspection by Landlord. Tenant shall at all times comply with the terms and conditions of each such license or permit.
2.2. Tenant shall not at any time use or occupy, or suffer or permit anyone to use or occupy, the Demised Premises, in violation of the Certificate of Occupancy for the Demised Premises, or for the Building or in violation of any rules and/or regulations prescribed in Exhibit D, annexed hereto.
Use and Condition. The City shall use the Licensed Area only for permitted use set forth above and in compliance with all applicable federal, state and local laws for no other use whatsoever. The City accepts the Licensed Area in its AS IS condition and assumes all risk of damage to person and property resulting from its use of the Licensed Area. The City will maintain and keep the Licensed Area in a clean, neat, appropriately landscaped and well-maintained condition.
Use and Condition. OF THE PREMISES 15 7.1. Use of the Premises 15 7.2. Operation of Tenant's Business 16 7.3. Condition of the Premises 16 7.4. ▇▇▇▇▇▇▇▇'s Obligation upon Delivery of the Premises 17 ARTICLE 8 - MAINTENANCE, REPAIRS, AND ALTERATIONS 17 8.1. Tenant's Obligations for Repairs and Maintenance 17 8.2. Landlord's Obligations for Repairs and Maintenance 18 8.3. ▇▇▇▇▇▇▇▇'s Right to Make Repairs on Behalf of Tenant 18 8.4. Alterations and Additions 18 8.5. Tenant's Construction and Repair Work 19 8.6. Liens 20 8.7. Tenant's Obligation for Compliance with Government Requirements 20 8.8. ▇▇▇▇▇▇▇▇'s Obligation for Compliance with Government Requirements 21
Use and Condition. Tenant shall use the premises only for business or professional office purposes. Tenant knows the conditions of the Premises and Tenant has confirmed to its satisfaction that the Premises can be lawfully used for purposes of Tenant's business. The Premises shall not be used during the term or an extension or renewal term for any purpose other than those specified herein.