Use of Party Walls. If the Lessee purchases any unimproved part of or interest in the Leased Premises, pursuant to the provisions of Section 11.04 of this Lease, or otherwise acquires or leases other real property adjacent to the Leased Premises, the Lessee and the Lessor agree that all walls presently standing or hereafter erected by the Lessor or the Lessee as a part of the Project on or contiguous to the boundary line of the portion of or interest in the Leased Premises or other real property so purchased, acquired, or leased shall be party walls, and each party grants to the other a 10-foot easement adjacent to any such party wall for the purpose of inspection, maintenance, repair, and replacement thereof and the tying-in of new construction. If the Lessee utilizes any party wall for the purpose of tying in new construction that will be utilized under common control with the Project, the Lessee may also tie into the utility facilities on the Leased Premises for the purpose of serving the new construction and may remove any non-loadbearing wall panels in the party wall; provided, however, that if the property so owned, purchased, acquired, or leased by the Lessee ceases to be operated under common control with the Project, the Lessee covenants that it shall install non-loadbearing wall panels similar in quality to those that have been removed and shall provide separate utility services for the new construction.
Appears in 1 contract
Use of Party Walls. If the Lessee Company purchases any unimproved Unimproved part of or interest in the Leased Premises, Realty pursuant to the provisions of Section 11.04 of this Lease, hereof or otherwise acquires or leases other real property adjacent to the Leased PremisesRealty, the Lessee and the Lessor agree that all walls presently standing or hereafter erected by the Lessor or the Lessee as a part of the Project on or contiguous to the boundary line of the portion of or interest in the Leased Premises or other real property land so purchased, acquired, acquired or leased by the Company shall be party walls, walls and each party grants to the other a 10-ten foot easement adjacent to any such party wall for the purpose of inspection, maintenance, repair, repair and replacement thereof and the tying-in of new construction. If the Lessee Company utilizes any party wall for the purpose of tying in new construction that will be utilized under common control with the Project, the Lessee Company may also tie into in the utility facilities on the Leased Premises Realty for the purpose of serving the new construction and may remove any non-loadbearing wall panels in the party wall; provided, however, that if the property so owned, purchased, acquired, acquired or leased by the Lessee Company ceases to be operated under common control with the Project, the Lessee Company covenants that it shall will install non-loadbearing wall panels similar in quality to those that have been removed and shall will provide separate utility services for the new construction.
Appears in 1 contract
Use of Party Walls. If the Lessee Company purchases any unimproved Unimproved part of or interest in the Leased Premises, Realty pursuant to the provisions of Section 11.04 of this Lease, hereof or otherwise acquires or leases other real property adjacent to the Leased PremisesRealty, the Lessee and the Lessor agree that all walls presently standing or hereafter erected by the Lessor or the Lessee as a part of the Project on or contiguous to the boundary line of the portion of or interest in the Leased Premises or other real property land so purchased, acquired, acquired or leased by the Company shall be party walls, walls and each party grants to the other a 10-ten foot easement adjacent to any such party wall for the purpose of inspection, maintenance, repair, repair and replacement thereof and the tying-in of new construction. If the Lessee Company utilizes any party wall for the purpose of tying in new construction that will be utilized under common control with the Project, the Lessee Company may also tie into in the utility facilities on the Leased Premises Realty for the purpose of serving the new construction and may remove any non-loadbearing wall panels in the party wall; provided, however, that if the property so owned, purchased, acquired, acquired or leased by the Lessee Company ceases to be operated under common control with the Project, the Lessee Company covenants that it shall will install non-loadbearing wall panels similar in quality to those that have been removed and shall will provide separate utility services for the new construction.. [END OF ARTICLE III]
Appears in 1 contract
Samples: Lease Agreement (Ocean Bio Chem Inc)
Use of Party Walls. If the Lessee Company purchases any unimproved Unimproved part of or interest in the Leased Premises, Realty pursuant to the provisions of Section 11.04 of this Lease, hereof or otherwise acquires or leases other real property adjacent to the Leased PremisesRealty, the Lessee and the Lessor agree that all walls presently standing or hereafter erected by the Lessor or the Lessee as a part of the Project on or contiguous to the boundary line of the portion of or interest in the Leased Premises or other real property land so purchased, acquired, acquired or leased by the Company shall be party walls, walls and each party grants to the other a 10-ten foot easement adjacent to any such party wall for the purpose of inspection, maintenance, repair, repair and replacement thereof and the tying-in of new construction. If the Lessee Company utilizes any party wall for the purpose of tying in new construction that will be utilized under common control with the Project, the Lessee Company may also tie into in the utility facilities on the Leased Premises Realty for the purpose of serving the new construction and may remove any non-loadbearing wall panels in the party wall; provided, however, that if the property so owned, purchased, acquired, acquired or leased by the Lessee Company ceases to be operated under common control with the Project, the Lessee Company covenants that it shall will install non-loadbearing wall panels similar in quality to those that have been removed and shall will provide separate utility services for the new construction.
Appears in 1 contract
Samples: Lease Agreement (Ocean Bio Chem Inc)