Use of the Leased Property. (a) Tenant shall use or cause to be used the Leased Property and the improvements thereon of each Facility for its Primary Intended Use. Tenant shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control or participate in the conduct of the gaming and/or racing operations at the Facilities. (b) Tenant shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) or cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Term. (c) Tenant shall neither suffer nor permit the Leased Property or any portion thereof to be used in such a manner as (i) might reasonably tend to impair Landlord’s title thereto or to any portion thereof or (ii) may make possible a claim of adverse use or possession, or an implied dedication of the Leased Property or any portion thereof. (d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 10 contracts
Samples: Master Lease (Boyd Gaming Corp), Master Lease (Gaming & Leisure Properties, Inc.), Master Lease (Eldorado Resorts, Inc.)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise reasonable efforts to obtain and to maintain all Licenses and other approvals needed to use and operate the Leased Property and the Hotel under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a Residence Inn by Marriott hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its “Primary Intended Use”). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor’s sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter’s regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee’s Personal Property.
(bc) Tenant Subject to the provisions of Articles 14, 15, 18 and 21, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement and the Management Agreement, (3) not terminate or amend the Franchise Agreement or the Management Agreement without the consent of Lessor (which shall not be unreasonably withheld or delayed), (4) maintain appropriate certifications and Licenses for such use and (5) seek to maximize the Gross Revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee’s Personal Property, to be used in such a manner as (i1) might reasonably tend to impair LandlordLessor’s (or Lessee’s, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 6 contracts
Samples: Hotel Lease Agreement, Hotel Lease Agreement (Apple Hospitality Two Inc), Hotel Lease Agreement (Apple Hospitality Five Inc)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise reasonable efforts to obtain and to maintain all Licenses and other approvals needed to use and operate the Leased Property and the Hotel under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a Hilton Garden Inn hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its “Primary Intended Use”). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor’s sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter’s regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee’s Personal Property.
(bc) Tenant Subject to the provisions of Articles 14, 15, 18 and 21, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement and the Management Agreement, (3) not terminate or amend the Franchise Agreement or the Management Agreement without the consent of Lessor (which shall not be unreasonably withheld or delayed), (4) maintain appropriate certifications and Licenses for such use and (5) seek to maximize the Gross Revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee’s Personal Property, to be used in such a manner as (i1) might reasonably tend to impair LandlordLessor’s (or Lessee’s, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 5 contracts
Samples: Hotel Lease Agreement (Apple REIT Ten, Inc.), Hotel Lease Agreement (Apple REIT Nine, Inc.), Hotel Lease Agreement (Apple REIT Nine, Inc.)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise its best efforts to obtain and to maintain all approvals needed to use and operate the Leased Property and the Facility under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use, or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretionLessor. Landlord acknowledges that operation of each Facility for its No use other than the Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done other than the Primary Intended Use, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which is prohibited by law or fire underwriter's regulations. Lessee shall comply with all of the requirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property, which compliance shall be performed at the FacilitiesLessee's sole cost.
(bc) Tenant Subject to the provisions of Articles 14 and 15, Lessee covenants and agrees that during the Term it will either directly or through an approved Manager (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply in all material respects with all the provisions of the Franchise Agreement, (3) not terminate or amend in any respect the Franchise Agreement without the consent of Lessor, (4) maintain appropriate certifications and licenses for such use and (5) keep Lessor advised of the status of any material litigation affecting the Leased Property.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(df) Except in instances of casualty or condemnation, Tenant Lessee shall continuously operate each comply with all of the Facilities for Lessor's covenants, in any loan agreement or other financing arrangement, applicable to this Lease or the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on operation of the Leased Property. Notwithstanding the foregoing, taken as a whole, provided that the following conditions are satisfied: Lessee shall not be obligated to comply with Lessor's covenants in any loan agreements which (A) (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and not customary, (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues are not otherwise contemplated by this Lease Agreement or any agreement or instrument executed by Lessee in connection herewith for the Fiscal Year immediately preceding benefit of Lessor, and (iii)(x) materially and adversely affect the time that Tenant ceased operations at the Facility.Facility or (y) materially increase Lessee's costs of doing business or decrease revenues, unless in cases where Subsection (iii)(y) is relied upon by Lessee the additional cost thereof is borne by Lessor, or (B) obligate Lessee to guarantee repayment of any debt of Lessor, or (C) require any indemnification undertakings other than customary undertakings with respect to servicing agents or similar administrative agents which administer escrow accounts into which Lessee may deposit Rent payments as required by Lessor's lenders or other servicing agents. Lessor will provide Lessee with not less than 15, and will attempt in good faith to provide not less than 30, days prior written notice of the terms of such covenants, and if Lessee is relying upon Subsection (iii)(y), Lessee shall within five days of receipt of such notice, notify Lessor in writing of any anticipated material additional costs which Lessee may incur. Lessor shall then notify Lessee in writing whether it agrees to pay or reimburse Lessee for the material additional cost thereof as incurred by Lessee, and Lessee's receipt of such notice shall be a condition precedent to Lessee's obligation to comply with such covenants. Lessor shall have the right to dispute Lessee's reliance on Subsections (A)-(C) or Lessee's estimates of additional costs pursuant to Subsection (A)(iii)(y), and either party may submit any such disputes to arbitration under the provisions of Section 40.2. ARTICLE ------- 8
Appears in 5 contracts
Samples: Lease Agreement (Hersha Hospitality Trust), Lease Agreement (Hersha Hospitality Trust), Lease Agreement (Hersha Hospitality Trust)
Use of the Leased Property. (a) Tenant Lessee covenants that it will obtain and to maintain all approvals needed to use and operate the Leased Property and the Facility under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use (the improvements thereon of each Facility for its “Primary Intended Use”). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor’s sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or substantially increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter’s regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee’s Personal Property.
(bc) Tenant Subject to the provisions of Articles XIV and XV, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and materially comply with all the provisions of the Franchise Agreement (except that Lessee shall have no obligation to complete any improvements to the Leased Property required by the franchisor unless the Lessor funds the cost thereof), (3) not terminate or amend the Franchise Agreement without the consent of Lessor, (4) maintain appropriate certifications and licenses for such use and (5) will seek to maximize the Gross Revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee’s Personal Property, to be used in such a manner as (i1) might reasonably tend to impair LandlordLessor’s (or Lessee’s, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 5 contracts
Samples: Master Lease Agreement, Master Lease Agreement (Supertel Hospitality Inc), Master Lease Agreement (Supertel Hospitality Inc)
Use of the Leased Property. (a) Tenant Lessee covenants that it will (with Lessor’s commercially reasonable cooperation to the extent necessary and required) proceed with all due diligence and will exercise its commercially reasonable efforts to obtain and to maintain all approvals needed to use and operate the Leased Property under applicable local, state and federal law.
(b) Lessee shall use use, or cause to be used used, the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its “Primary Intended Use”). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in Lessor’s reasonable discretion. No use shall be made or permitted to be made of the Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter’s regulations. Lessee shall, at its sole discretioncost, comply with all of the requirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessor’s Personal Property, except that Lessee shall have no obligation to complete capital improvements to the Leased Property. Landlord acknowledges Lessee will have exclusive possession of the Hotel and exclusive control of the day to day operations of the Hotel.
(c) Subject to the provisions of Articles XIV, XV, XXI and XXII and other express provisions in this Lease, with respect to the Leased Property, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement (except that Lessee shall have no obligation to take any actions that are the responsibility of Lessor hereunder or to complete any capital improvements to the Leased Property required by the franchisor unless Lessor funds the cost thereof), (3) not terminate or amend the Franchise Agreement without the consent of Lessor (not to be unreasonably withheld, conditioned or delayed), (4) maintain appropriate certifications and licenses for such use and (5) seek to maximize the Gross Revenues generated therefrom consistent with sound business practices and Lessee’s concurrent goal of maximizing its net operating income therefrom. Lessor covenants and agrees that, with respect to the Leased Property, during the Term it will (1) not take or allow any Affiliate to take or fail to take any action that would interfere with, restrict or prohibit Lessee’s operation of each Facility the Leased Property for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations Use, including, without limitation, modifying, amending or terminating any Franchise Agreement or any licenses, franchises, permits, easements, leases, undertakings or agreements held by Lessor or such Affiliate and that without pertaining to the Leased Property, (2) comply with all the provisions of any Franchise Agreement relating to Capital Expenditures (to the extent such a license neither Landlord nor GLP may operate, control or participate Capital Expenditures are provided for in the conduct Capital Budget), the payment of any Real Estate Taxes, Personal Property Taxes, Capital Impositions and other requirements thereof that are not the gaming and/or racing operations at responsibility of Lessee hereunder and (3) seek to maximize the Facilitiesnet income generated by Lessee from the Leased Property consistent with Lessor’s concurrent goal of maximizing the Gross Revenues generated therefrom.
(bd) Tenant Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) or Property, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessor’s Personal Property, to be used in such a manner as (i1) might reasonably tend to impair LandlordLessor’s (or Lessee’s, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the FacilityHotels.
Appears in 4 contracts
Samples: Lease Agreement (American Realty Capital Hospitality Trust, Inc.), Lease Agreement (American Realty Capital Hospitality Trust, Inc.), Lease Agreement (American Realty Capital Hospitality Trust, Inc.)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise its best efforts to obtain and to maintain all approvals needed to use and operate the Leased Property and the Facility under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use, or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretionLessor. Landlord acknowledges that operation of each Facility for its No use other than the Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done other than the Primary Intended Use, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which is prohibited by law or fire underwriter's regulations. Lessee shall comply with all of the requirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property, which compliance shall be performed at the FacilitiesLessee's sole cost.
(bc) Tenant Subject to the provisions of Articles 14 and 15, Lessee covenants and agrees that during the Term it will either directly or through an approved Manager (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply in all material respects with all the provisions of the Franchise Agreement, (3) not terminate or amend in any respect the Franchise Agreement without the consent of Lessor, (4) maintain appropriate certifications and licenses for such use and (5) keep Lessor advised of the status of any material litigation affecting the Leased Property.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(df) Except in instances of casualty or condemnation, Tenant Lessee shall continuously operate each comply with all of the Facilities for Lessor's covenants, in any loan agreement or other financing arrangement, applicable to this Lease or the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on operation of the Leased Property. Notwithstanding the foregoing, taken as a whole, provided that the following conditions are satisfied: Lessee shall not be obligated to comply with Lessor's covenants in any loan agreements which (A) (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and not customary, (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues are not otherwise contemplated by this Lease Agreement or any agreement or instrument executed by Lessee in connection herewith for the Fiscal Year immediately preceding benefit of Lessor, and (iii)(x) materially and adversely affect the time that Tenant ceased operations at the FacilityFacility or (y) materially increase Lessee's costs of doing business or decrease revenues, unless in cases where Subsection (iii)(y) is relied upon by Lessee the additional cost thereof is borne by Lessor, or (B) obligate Lessee to guarantee repayment of any debt of Lessor, or (C) require any indemnification undertakings other than customary undertakings with respect to servicing agents or similar administrative agents which administer escrow accounts into which Lessee may deposit Rent payments as required by Lessor's lenders or other servicing agents. Lessor will provide Lessee with not less than 15, and will attempt in good faith to provide not less than 30, days prior written notice of the terms of such covenants, and if Lessee is relying upon Subsection (iii)(y), Lessee shall within five days of receipt of such notice, notify Lessor in writing of any anticipated material additional costs which Lessee may incur. Lessor shall then notify Lessee in writing whether it agrees to pay or reimburse Lessee for the material additional cost thereof as incurred by Lessee, and Lessee's receipt of such notice shall be a condition precedent to Lessee's obligation to comply with such covenants. Lessor shall have the right to dispute Lessee's reliance on Subsections (A)-(C) or Lessee's estimates of additional costs pursuant to Subsection (A)(iii)(y), and either party may submit any such disputes to arbitration under the provisions of Section 40.2.
Appears in 4 contracts
Samples: Lease Agreement (Hersha Hospitality Trust), Lease Agreement (Hersha Hospitality Trust), Lease Agreement (Hersha Hospitality Trust)
Use of the Leased Property. (a) Tenant 7.2.1 Lessee covenants that it will proceed with all due diligence and will exercise its diligent efforts to maintain all approvals needed to use and operate the Leased Property and the Facility under applicable local, state and federal law.
7.2.2 Lessee shall use or cause to be used the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of Landlord, Lessor which consent Landlord may withhold be granted, denied or conditioned in its Lessor's sole discretion. Landlord acknowledges that operation No use shall be made or permitted to be made and no act shall be done or permitted to be done of, or on, the Leased Property, which will cause the cancellation or increase the premium of each Facility for any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operatesole cost, control or participate in the conduct comply with all of the gaming and/or racing operations at requirements pertaining to the FacilitiesLeased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
7.2.3 Subject to the provisions of Sections 14, 15, 21 and 22, Lessee covenants and agrees that during the Term it will (b1) Tenant operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of Franchise Agreements, if any (3) not terminate or amend Franchise Agreements, if any, without the prior written consent of Lessor which shall not be unreasonably withheld or delayed, and (4) maintain appropriate certifications and licenses for such use.
7.2.4 Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(c) Tenant 7.2.5 Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property.
7.2.6 Except as may be agreed upon in writing in advance by the parties, taken as neither the Lessor nor any of its Affiliates shall own, or have any interest in, any hotel or motel property that is within a wholefive mile radius of the Leased Property. In addition, provided neither the Lessor nor any of its Affiliates shall operate or manage any hotel or motel property that the following conditions are satisfied: (i) no Event is within a five mile radius of Default any hotel or motel property in which Lessee or an Affiliate of Lessee has occurred and is continuing immediately prior to or immediately after an interest on the date Lessor would otherwise commence owning, possessing an interest in, operating or managing such property. Other than hotels or motels owned, managed, operated or in which Lessee has an interest as of the Commencement Date, the Lessee agrees that operations are ceased it shall not manage, operate or as own any interest in any hotel or motel property that is within a result five (5) mile radius of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the FacilityLeased Property.
Appears in 3 contracts
Samples: Lease Agreement (Host Funding Inc), Lease Agreement (Host Funding Inc), Lease Agreement (Host Funding Inc)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise commercially reasonable efforts to obtain and to maintain all approvals needed to, or to cause Manager to, use and operate the Leased Property and the Hotel under applicable local, state and federal law. Lessor shall cooperate with Lessee in this regard, including executing all applications and consents required to be signed by Lessor in order for Lessee to obtain and maintain such approvals.
(b) Lessee shall, and shall cause Manager to, use or cause to be used the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not not, and Lessee shall ensure that Manager shall not, use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold in its be granted, denied or conditioned upon Lessor's sole discretion. Landlord acknowledges No use shall be made or permitted to be made of the Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), and Lessee shall not, and shall ensure that operation Manager shall not, sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at its sole cost, comply with all of each Facility the requirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property. Further, Lessee shall not, and Lessee shall ensure that Manager shall not, take or omit to take any action, the taking or omission of which materially impairs the usefulness of the Leased Property or any part thereof for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control or participate in the conduct of the gaming and/or racing operations at the FacilitiesUse.
(bc) Tenant Subject to the provisions of Articles XIV and XV, Lessee covenants and agrees that during the Term it will, and shall not cause Manager to, (1) operate continuously the Leased Property as a hotel facility, (2) maintain appropriate certifications and licenses for such use, and (3) will seek to maximize the Gross Revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not, and Lessee shall ensure that Manager shall not, (1) commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any unlawful nuisance thereon or totherein, except as required by law, take or (2) suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Term.
(c) Tenant shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property.
(e) In the event that, taken in the reasonable determination of Lessor and Lessee, it shall no longer be economically practical to operate the Leased Property as a wholeHotel, provided that Lessor may elect to terminate this Lease, by providing to Lessee Notice thereof, which Notice shall set forth in reasonable detail the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facilityreasons therefor.
Appears in 3 contracts
Samples: Lease Agreement (Strategic Hotel Capital Inc), Lease Agreement (Strategic Hotel Capital Inc), Lease Agreement (Strategic Hotel Capital Inc)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise reasonable efforts to obtain and to maintain all Licenses and other approvals needed to use and operate the Leased Property and the Hotel under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a Homewood Suites(R) all-suite hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor's sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
(bc) Tenant Subject to the provisions of Articles 14, 15, 18 and 21, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement and the Management Agreement, (3) not terminate or amend the Franchise Agreement or the Management Agreement without the consent of Lessor (which shall not be unreasonably withheld or delayed), (4) maintain appropriate certifications and Licenses for such use and (5) seek to maximize the Gross Revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 3 contracts
Samples: Hotel Lease Agreement (Apple Suites Inc), Hotel Lease Agreement (Apple Suites Inc), Master Hotel Lease Agreement (Apple Suites Inc)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise its best efforts to obtain and to maintain all approvals needed to use and operate the Leased Property and the Facility under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold in its be granted, denied or conditioned upon Lessor's sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
(bc) Tenant Subject to the provisions of Articles XIV and XV, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement (except that Lessee shall have no obligation to complete any capital improvements to the Leased Property required by the franchisor unless the Lessor funds the costs thereof), (3) not terminate or amend the Franchise Agreement without the consent of Lessor, (4) maintain appropriate certifications and licenses for such use and (5) will seek to maximize the Gross Revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as .
(f) Lessee agrees to deliver to Lessor upon request by Lessor from time to time a whole, provided that the following conditions are satisfied: list of hotels and motels (iand locations) no Event of Default has occurred owned or managed by Lessee and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facilityits Affiliates.
Appears in 3 contracts
Samples: Consolidated Lease Agreement (Equity Inns Inc), Lease Agreement (Equity Inns Inc), Consolidated Lease Amendment (Equity Inns Inc)
Use of the Leased Property. (a) Tenant shall not use (or cause or permit to be used used) the Facility, including the Leased Property and the improvements thereon of each Facility for its Primary Intended Use. Tenant shall not use the Leased Property Property, or any portion thereof or thereof, including any Capital Improvement thereto Improvement, for any use other use than the Primary Intended Use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility the Leased Property for its Primary Intended Use generally requires may require a Gaming License under applicable Gaming Regulations and that without such a license license, if applicable, neither Landlord nor GLP Landlord REIT may operate, control or participate in the conduct of the gaming and/or racing operations at the FacilitiesFacility. Tenant acknowledges that operation of the Facility for its Primary Intended Use generally may require a Gaming License under applicable Gaming Regulations and that without such a license, if applicable, Tenant may not operate, control or participate in the conduct of the gaming operations at the Facility.
(b) Tenant shall not commit or suffer to be committed any waste with respect to the Facility, including on or to the Leased Property (including any and, without limitation, to the Capital Improvement theretoImprovements) or cause or permit any nuisance thereon or toor, except as required by law, knowingly take or suffer any action or condition that will diminish in any material respect, the ability of the Leased Property to be used as a Gaming Facility (or otherwise for the Primary Intended Use) after the expiration or earlier termination of the TermExpiration Date.
(c) Tenant shall neither not, without the prior written consent of Landlord, which shall not be unreasonably withheld, conditioned or delayed, (i) initiate or support any limiting change in the permitted uses of the Leased Property (or to the extent applicable, limiting zoning reclassification of the Leased Property); (ii) seek any variance under existing land use restrictions, laws, rules or regulations (or, to the extent applicable, zoning ordinances) applicable to the Leased Property or the use of the Leased Property in any manner that adversely affects (other than to a de minimis extent) the value or utility of the Leased Property for the Primary Intended Use; (iii) execute or file any subdivision plat or condominium declaration affecting the Leased Property or any portion thereof, or institute, or permit the institution of, proceedings to alter any tax lot comprising the Leased Property or any portion thereof; or (iv) knowingly permit or suffer nor permit the Leased Property or any portion thereof to be used by the public or any Person in such a manner as (i) might reasonably tend to impair Landlord’s title thereto or to any portion thereof or (ii) may make possible a claim of adverse usage or possession or of any implied dedication or easement (provided that the proscription in this clause (iv) is not intended to and shall not restrict Tenant in any way from complying with any obligation it may have under applicable Legal Requirements, including, without limitation, Gaming Regulations, to afford to the public access to the Leased Property or any portion thereof). Without limiting the foregoing, (1) Tenant will not impose or permit the imposition of any restrictive covenants, easements or other encumbrances upon the Leased Property (including, subject to the last paragraph of Section 16.1, any restriction, covenant, easement or other encumbrance which Tenant may otherwise impose or permit to be imposed pursuant to the provisions of any Permitted Exception Document) without Landlord’s consent, which shall not be unreasonably withheld, conditioned or delayed, provided, that, Landlord is given reasonable opportunity to participate in the process leading to such agreement, and (2) other than any liens or other encumbrances granted to a Fee Mortgagee, Landlord will not enter into agreements that will encumber the Leased Property without Tenant’s consent, which shall not be unreasonably withheld, conditioned or delayed, provided, that, Tenant is given reasonable opportunity to participate in the process leading to such agreement. Landlord agrees it will not withhold consent to utility easements and other similar encumbrances made in the ordinary course of Tenant’s business conducted on the Leased Property in accordance with the Primary Intended Use, provided the same does not adversely affect in any material respect the use or possessionutility of the Leased Property for the Primary Intended Use. Nothing in the foregoing is intended to vitiate or supersede Tenant’s right to enter into Permitted Leasehold Mortgages or Landlord’s right to enter into Fee Mortgages in each case as and to the extent provided herein. Except to the extent resulting from a Permitted Operation Interruption, Tenant shall cause the Facility to be Continuously Operated during the Term. During any time period that the Facility ceases to be Continuously Operated, solely for purposes of calculating Variable Rent in accordance herewith, the Net Revenue shall be subject to a floor equal to the Net Revenue for the Facility for the calendar year immediately preceding such period that the Facility is not Continuously Operated, prorated for the applicable time period that the Facility is not Continuously Operated. Further, if the Facility ceases to be Continuously Operated for a period of one (1) year, then Landlord shall have the right, in its sole discretion, to terminate this Lease.
(d) Subject to Article XII regarding permitted contests, Tenant, at its sole cost and expense, shall promptly (i) comply in all material respects with all Legal Requirements and Insurance Requirements affecting the Facility and the business conducted thereat, including those regarding the use, operation, maintenance, repair and restoration of the Leased Property or an implied dedication any portion thereof (including all Capital Improvements) and Tenant’s Property whether or not compliance therewith may require structural changes in any of the Leased Improvements or interfere with the use and enjoyment of the Leased Property or any portion thereof.
, and (dii) Except procure, maintain and comply in instances of casualty or condemnationall material respects with all Gaming Regulations and Gaming Licenses, Tenant shall continuously operate each and other authorizations required for the use of the Facilities Leased Property (including all Capital Improvements) and Tenant’s Property for the applicable Primary Intended UseUse and any other use of the Leased Property (including Capital Improvements then being made) and Tenant’s Property, and for the proper erection, installation, operation and maintenance of the Leased Property and Tenant’s Property. In an emergency involving an imminent threat to human health and safety or damage to property, or in the event of a breach by Tenant of its obligations under this Section 7.2 which is not cured within any applicable cure period set forth herein, Landlord or its representatives (and any Fee Mortgagee) may, but shall not be obligated to, enter upon the Leased Property (and, without limitation, all Capital Improvements) (upon reasonable prior written notice to Tenant, except in its discretion the case of emergency, and Tenant shall be permitted to cease operations at have Landlord or its representatives accompanied by a Facility or Facilities if representative of Tenant) and take such cessation would not reasonably be expected reasonable actions and incur such reasonable costs and expenses to have a material adverse effect on Tenant, the Facilities, or on such compliance as it deems advisable to protect its interest in the Leased Property, taken as a wholeand Tenant shall reimburse Landlord for all such reasonable out-of-pocket costs and expenses actually incurred by Landlord in connection with such actions.
(e) Without limitation of any of the other provisions of this Lease, provided that the following conditions are satisfied: Tenant shall comply with all Property Documents (i) no Event of Default has occurred and is continuing immediately prior to that are listed on the title polic(y)(ies) described on Schedule 6 attached hereto, or immediately (ii) made after the date that operations are ceased hereof in accordance with the terms of this Lease or as a result of such cessation; may otherwise be agreed to in writing by Tenant.
(f) Tenant shall, throughout the Term, cause the Facility to be operated, managed, used, maintained and (ii) repaired in all material respects, in accordance with the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the FacilityApplicable Standards.
Appears in 3 contracts
Samples: Lease Agreement (CAESARS ENTERTAINMENT Corp), Lease Agreement (Vici Properties Inc.), Purchase and Sale Agreement (Vici Properties Inc.)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise reasonable efforts to obtain and to maintain all Licenses and other approvals needed to use and operate the Leased Property and the Hotel under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a Courtyard by Marriott hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its “Primary Intended Use”). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor’s sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter’s regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee’s Personal Property.
(bc) Tenant Subject to the provisions of Articles 14, 15, 18 and 21, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement and the Management Agreement, (3) not terminate or amend the Franchise Agreement or the Management Agreement without the consent of Lessor (which shall not be unreasonably withheld or delayed), (4) maintain appropriate certifications and Licenses for such use and (5) seek to maximize the Gross Revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee’s Personal Property, to be used in such a manner as (i1) might reasonably tend to impair LandlordLessor’s (or Lessee’s, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 3 contracts
Samples: Hotel Lease Agreement (Apple REIT Eight, Inc.), Hotel Lease Agreement (Apple REIT Nine, Inc.), Hotel Lease Agreement (Apple REIT Eight, Inc.)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise reasonable efforts to obtain and to maintain all Licenses and other approvals needed to use and operate the Leased Property and the Hotel under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a Residence Inn by Marriott hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor's sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
(bc) Tenant Subject to the provisions of Articles 14, 15, 18 and 21, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Management Agreement, (3) not terminate or amend the Management Agreement without the consent of Lessor (which shall not be unreasonably withheld or delayed), (4) maintain appropriate certifications and Licenses for such use and (5) seek to maximize the Gross Revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 2 contracts
Samples: Master Hotel Lease Agreement (Apple Hospitality Two Inc), Master Hotel Lease Agreement (Apple Hospitality Two Inc)
Use of the Leased Property. 7.2.1 Lessee covenants that it will obtain and maintain (aor, in the case of any Facility in respect of which a Master Sublease or management agreement permitted without Lessor’s consent under Sections 24.1.1 and 24.1.12 is in effect between Lessee and any of its Affiliates, cause such Affiliate to obtain and maintain) Tenant all Required Governmental Approvals with respect to each Facility (including for any Capital Additions to such Facility).
7.2.2 Lessee shall use or cause to be used the Leased Property Property, all Capital Additions and the improvements thereon of each Facility only for its Portions of this exhibit that have been marked by [***] have been omitted pursuant to a request for confidential treatment filed separately with the Securities and Exchange Commission. the Primary Intended Use of such Facility and for no other uses, except for areas reasonably required for office, storage space or ancillary service uses incidental to the Primary Intended Use. Tenant No change to the Primary Intended Use of any Facility shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use be permitted hereunder without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted or withheld in its sole Lessor’s reasonable discretion. Landlord acknowledges that operation .
7.2.3 Subject to any reasonable interruptions in operations as a result of (i) casualty or condemnation and the restoration thereof in accordance with the applicable provisions of Article XIV and/or Article XV hereof, or (ii) the remediation of any environmental condition in accordance with the applicable provisions of Section 37.3 hereof, Lessee shall operate continuously the entire Leased Property and all Capital Additions of each Facility for its in accordance with the Primary Intended Use generally requires of such Facility. Lessee shall devote the entirety of each Facility and all Capital Additions thereto to the Primary Intended Use, except for areas reasonably required for office, storage space or ancillary service uses incidental to the Primary Intended Use. Lessee shall not modify the services offered or, except as permitted in Section 7.4 hereof, take any other action (e.g., removing patients or residents from any Facility or directing patients or residents, or prospective patients or residents, to another facility) which would materially reduce Gross Revenues or the Fair Market Value of any Facility.
7.2.4 Lessee shall conduct its business at each Facility in conformity with standards that meet or exceed the standards of such Facility’s operations as of the Commencement Date and in a Gaming License under applicable Gaming Regulations manner consistent with normal and that without such a license neither Landlord nor GLP customary standards of patient or resident care practice (as the same may operate, control or participate change from time to time during the Term) provided in similar facilities in the conduct of the gaming and/or racing operations at the FacilitiesState.
(b) Tenant 7.2.5 Lessee shall not commit or suffer to be committed any physical waste on the Leased Property (including and/or on or to any Capital Improvement thereto) or cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the TermAdditions.
(c) Tenant 7.2.6 Lessee shall neither suffer nor not permit the Leased Property Property, any Capital Additions, or any portion thereof part(s) thereof, or Lessee’s Personal Property, to be used in such a manner as (i) might is reasonably tend likely to impair LandlordLessor’s title thereto or to any portion thereof or (ii) may make possible reasonably likely a claim of adverse use or possession, or an implied dedication of the Leased Property Property, any Capital Additions or any portion part(s) thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 2 contracts
Samples: Master Lease and Security Agreement (Brookdale Senior Living Inc.), Master Lease and Security Agreement (Hcp, Inc.)
Use of the Leased Property. (a) Tenant shall not use (or cause or permit to be used used) the Facility, including the Leased Property and the improvements thereon of each Facility for its Primary Intended Use. Tenant shall not use the Leased Property Property, or any portion thereof or thereof, including any Capital Improvement thereto Improvement, for any use other use than the Primary Intended Use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility the Leased Property for its Primary Intended Use generally requires may require a Gaming License under applicable Gaming Regulations and that without such a license license, if applicable, neither Landlord nor GLP Landlord REIT may operate, control or participate in the conduct of the gaming and/or racing operations at the FacilitiesFacility. Tenant acknowledges that operation of the Facility for its Primary Intended Use generally may require a Gaming License under applicable Gaming Regulations and that without such a license, if applicable, Tenant may not operate, control or participate in the conduct of the gaming operations at the Facility.
(b) Tenant shall not commit or suffer to be committed any waste with respect to the Facility, including on or to the Leased Property (including any and, without limitation, to the Capital Improvement theretoImprovements) or cause or permit any nuisance thereon or toor, except as required by law, knowingly take or suffer any action or condition that will diminish in any material respect, the ability of the Leased Property to be used as a Gaming Facility (or otherwise for the Primary Intended Use) after the expiration or earlier termination of the TermExpiration Date.
(c) Tenant shall neither not, without the prior written consent of Landlord, which shall not be unreasonably withheld, conditioned or delayed, (i) initiate or support any limiting change in the permitted uses of the Leased Property (or to the extent applicable, limiting zoning reclassification of the Leased Property); (ii) seek any variance under existing land use restrictions, laws, rules or regulations (or, to the extent applicable, zoning ordinances) applicable to the Leased Property or the use of the Leased Property in any manner that adversely affects (other than to a de minimis extent) the value or utility of the Leased Property for the Primary Intended Use; (iii) execute or file any subdivision plat or condominium declaration affecting the Leased Property or any portion thereof, or institute, or permit the institution of, proceedings to alter any tax lot comprising the Leased Property or any portion thereof; or (iv) permit or suffer nor permit the Leased Property or any portion thereof to be used by the public or any Person in such a manner as (i) might reasonably tend to impair Landlord’s title thereto or to any portion thereof or (ii) may make possible a claim of adverse usage or possession or of any implied dedication or easement (provided that the proscription in this clause (iv) is not intended to and shall not restrict Tenant in any way from complying with any obligation it may have under applicable Legal Requirements, including, without limitation, Gaming Regulations, to afford to the public access to the Leased Property or any portion thereof). Without limiting the foregoing, (1) Tenant will not impose or permit the imposition of any restrictive covenants, easements or other encumbrances upon the Leased Property (including, subject to the last paragraph of Section 16.1, any restriction, covenant, easement or other encumbrance which Tenant may otherwise impose or permit to be imposed pursuant to the provisions of any Permitted Exception Document) without Landlord’s consent, which shall not be unreasonably withheld, conditioned or delayed, provided, that, Landlord is given reasonable opportunity to participate in the process leading to such agreement, and (2) other than any liens or other encumbrances granted to a Fee Mortgagee, Landlord will not enter into agreements that will encumber the Leased Property without Tenant’s consent, which shall not be unreasonably withheld, conditioned or delayed, provided, that, Tenant is given reasonable opportunity to participate in the process leading to such agreement. Landlord agrees it will not withhold consent to utility easements and other similar encumbrances made in the ordinary course of Tenant’s business conducted on the Leased Property in accordance with the Primary Intended Use, provided the same does not adversely affect in any material respect the use or possessionutility of the Leased Property for the Primary Intended Use. Nothing in the foregoing is intended to vitiate or supersede Tenant’s right to enter into Permitted Leasehold Mortgages or Landlord’s right to enter into Fee Mortgages in each case as and to the extent provided herein.
(d) Except to the extent resulting from a Permitted Operation Interruption, Tenant shall cause the Facility to be Continuously Operated during the Term.
(e) Subject to Article XII regarding permitted contests, Tenant, at its sole cost and expense, shall promptly (i) comply in all material respects with all Legal Requirements and Insurance Requirements affecting the Facility and the business conducted thereat, including those regarding the use, operation, maintenance, repair and restoration of the Leased Property or an implied dedication any portion thereof (including all Capital Improvements) and Tenant’s Property whether or not compliance therewith may require structural changes in any of the Leased Improvements or interfere with the use and enjoyment of the Leased Property or any portion thereof.
, and (dii) Except procure, maintain and comply in instances of casualty or condemnationall material respects with all Gaming Regulations and Gaming Licenses, Tenant shall continuously operate each and other authorizations required for the use of the Facilities Leased Property (including all Capital Improvements) and Tenant’s Property for the applicable Primary Intended UseUse and any other use of the Leased Property (and Capital Improvements then being made) and Tenant’s Property, and for the proper erection, installation, operation and maintenance of the Leased Property and Tenant’s Property. In an emergency involving an imminent threat to human health and safety or damage to property, or in the event of a breach by Tenant of its obligations under this Section 7.2 which is not cured within any applicable cure period set forth herein, Landlord or its representatives (and any Fee Mortgagee) may, but shall not be obligated to, enter upon the Leased Property (and, without limitation, all Capital Improvements) (upon reasonable prior written notice to Tenant, except in its discretion the case of emergency, and Tenant shall be permitted to cease operations at have Landlord or its representatives accompanied by a Facility or Facilities if representative of Tenant) and take such cessation would not reasonably be expected reasonable actions and incur such reasonable costs and expenses to have a material adverse effect on Tenant, the Facilities, or on such compliance as it deems advisable to protect its interest in the Leased Property, taken as a wholeand Tenant shall reimburse Landlord for all such reasonable out-of-pocket costs and expenses actually incurred by Landlord in connection with such actions.
(f) Tenant shall not, provided that without the following conditions are satisfied: prior written consent of Landlord, cease to operate or permit the Facility to cease to be operated under the “Caesars Palace” Brand.
(g) Without limitation of any of the other provisions of this Lease, Tenant shall comply with all Property Documents (i) no Event of Default has occurred and is continuing immediately prior to that are listed on the title policies described on Exhibit K attached hereto, or immediately (ii) made after the date that operations are ceased hereof in accordance with the terms of this Lease or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter may otherwise be subject agreed to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facilityin writing by Tenant.
Appears in 2 contracts
Samples: Lease (CAESARS ENTERTAINMENT Corp), Lease (Vici Properties Inc.)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise its best efforts to obtain and to maintain all approvals needed to use and operate the Leased Property and the Facility under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its “Primary Intended Use”). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor’s sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter’s regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee’s Personal Property.
(bc) Tenant Subject to the provisions of Articles XIV, XV, XXI and XXII, Lessee covenants and agrees that during the Term it will (1) operate or cause to operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement, (3) not terminate or amend the Franchise Agreement without the consent of Lessor, (4) maintain appropriate certifications and licenses for such use and (5) will seek to maximize the gross revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee’s Personal Property, to be used in such a manner as (i1) might reasonably tend to impair LandlordLessor’s (or Lessee’s, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 2 contracts
Samples: Lease Agreement (MHI Hospitality CORP), Lease Agreement (MHI Hospitality CORP)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise its best efforts to obtain and to maintain all approvals needed to use and operate the Leased Property under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a health and fitness resort, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor's sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property.
(bc) Tenant Subject to the provisions of Articles XIV, XV, and XXI, Lessee covenants and agrees that during the term of this Lease it will (1) operate continuously the Leased Property as a health and fitness resort, (2) keep in full force and effect and comply with all the provisions of the Management Agreement, (3) not terminate or amend the Management Agreement without the consent of Lessor, and (4) maintain appropriate certifications and licenses for such use.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) or normal wear and tear excepted), nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Resort on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 2 contracts
Samples: Lease Agreement (Crescent Real Estate Equities Inc), Lease Agreement (Crescent Real Estate Equities Inc)
Use of the Leased Property. (a) Tenant shall use or cause to be used the Leased Property and the improvements thereon of each Facility for its Primary Intended UseUse in accordance with the Operating Standard. Tenant shall not use or permit the use of the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretionnot unreasonably withhold, condition or delay. Landlord acknowledges that operation of each Gaming Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP any Affiliate of Landlord may operate, control or participate in the conduct of the gaming and/or racing operations at the Facilitiesa Gaming Facility.
(b) Tenant shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) or cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility (except in connection with any use, or change of use, permitted pursuant to Section 7.2(a) above or in connection with a Facility (or any portion thereof) that is not and has not been operated as a Gaming Facility) after the expiration or earlier termination of the Term.
(c) Tenant shall neither suffer nor permit the Leased Property or any portion thereof to be used in such a manner as (i) might would reasonably tend be expected to impair Landlord’s title thereto or to any portion thereof or (ii) may make possible would reasonably be expected to result in a claim of adverse use or possession, or an implied dedication of the Leased Property or any portion thereof.
(d) Except as a result of a Casualty Event or for the duration of an Unavoidable Delay or, with respect to a Facility undergoing a Landlord Approved Construction/Closure Project, for the duration of the period in instances of casualty or condemnationwhich Tenant is prosecuting such Landlord Approved Construction/Closure Project, Tenant shall continuously operate each of the Facilities for the Primary Intended UseUse in accordance with the Operating Standard. Notwithstanding the foregoing, Tenant in its discretion shall be permitted may elect to permanently or temporarily cease operations at a Facility or any of the Facilities if (i) in Tenant’s reasonable discretion, such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that or (ii) at the following conditions time of such Voluntary Cessation, the EBITDAR to Rent Ratio, calculated on a pro forma basis as if the Facility(ies) for which operations are satisfied: to be terminated were not included in EBITDAR, for the trailing twelve (12) month period is not less than 1.9:1 (any cessation of operations under clause (i) no Event of Default has occurred above or this clause (ii), a “Voluntary Cessation”); provided, however, that to the extent any Voluntary Cessation exceeds and is continuing immediately for more than a period of twelve (12) consecutive months, Landlord may provide written notice to Tenant (the “Voluntary Termination Notice”) of Landlord’s intent to exercise Landlord’s right to terminate Tenant’s Leasehold Interest in this Master Lease as set forth below with respect to only the Facility for which the Voluntary Cessation has occurred and, as a condition to any such termination, contemporaneously therewith enter into a new lease for such facility (a “Replacement Lease”) with a bona fide third party (a “Replacement Tenant”) at a commercially reasonable rent (giving due consideration to the fact that such Facility has been closed and is not operational) (“Landlord’s Termination Right”); provided further, that effective upon such termination, Rent under this Master Lease will be reduced by the amount of Rent required to be paid by such third party to the Landlord pursuant to such Replacement Lease. Notwithstanding the foregoing, Rent under this Master Lease will remain unchanged except as specifically set forth in the proviso of the preceding sentence (and, for the avoidance of doubt, solely in the event of a Replacement Lease). Notwithstanding the foregoing, if Landlord delivers a Voluntary Termination Notice to Tenant in accordance with the above, Tenant may within thirty (30) days after receipt of the Voluntary Termination Notice, provide notice to Landlord that Tenant intends to again operate the Facility in question (“Tenant’s Notice of Intent”) and (x) if Tenant does thereafter commence operation of the Facility in question prior to or immediately after the date that operations are ceased is sixty (60) days after the delivery to Landlord of Tenant’s Notice of Intent (“Tenant’s Recommencement Period”), and continues to operate such Facility for at least ninety (90) consecutive days in accordance with the terms of this Master Lease, then Landlord’s Termination Right shall not apply and (y) if Tenant does not thereafter commence operation of the Facility in question prior to the expiration of Tenant’s Recommencement Period, or as does commence operation during Tenant’s Recommencement Period but does not continue to operate for such 90-day period, then Landlord shall have the right to exercise Landlord’s Termination Right provided that Landlord and Replacement Tenant enter into a result binding agreement for the execution and delivery by Landlord and Replacement Tenant of a Replacement Lease within four (4) years following the expiration of Tenant’s Recommencement Period (such 4-year period, the “Re-tenanting Period”) and thereafter consummate the closing and enter into the Replacement Lease no later than one (1) year after execution and delivery of such cessation; binding agreement (such 1-year period, the “Replacement Lease Closing Period”), failing which, Landlord shall no longer be permitted to exercise Landlord’s Termination Right with respect to the Voluntary Cessation in question without first delivering a Voluntary Termination Notice to Tenant and providing Tenant with the rights set forth above in connection therewith. For purposes of clarity, (1) under no circumstances shall any termination of this Master Lease with respect to a Facility pursuant to this Section 7.2(d) become effective unless a Replacement Lease is executed and delivered contemporaneously therewith, and (ii2) the Percentage Rent due from each if Tenant reopens a Facility as described in clause (x) of this Section 7.2(d) and every continues to operate such Facility whose for at least ninety (90) consecutive days in accordance with the terms of this Master Lease, but thereafter, ceases operations have ceased will thereafter be at such Facility for more than a period of twelve (12) consecutive months, then, Landlord may provide another Voluntary Termination Notice to Tenant pursuant to this Section 7.2(d).
(e) Without limitation of any other provisions of this Lease, Tenant shall comply in all material respects with all Property Documents and Landlord shall reasonably cooperate with Tenant (at Tenant’s sole cost and expense) to the extent necessary for Tenant to so comply.
(f) Upon Landlord’s reasonable request from time to time, but not more frequently than once each year, Tenant shall provide Landlord with copies of any final third-party surveys, environmental, engineering, zoning, seismic or property condition reports (other than any which are subject to a floor which will be calculated based on privilege) obtained by Tenant or any Operating Subtenant with respect to the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the FacilityLeased Property.
Appears in 2 contracts
Samples: Master Lease (VICI Properties L.P.), Master Lease (MGM Resorts International)
Use of the Leased Property. (a) Tenant After the Commencement Date and during the entire Term, Lessee shall use me or cause to be used the Facility and the Leased Property as an 82 unit assisted living facility and for such other uses as may be necessary in connection with or incidental to such use (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control shall not be unreasonably withheld or participate in the conduct of the gaming and/or racing operations at the Facilitiesdelayed.
(b) Tenant Lessee covenants that it will obtain and maintain all material approvals needed to use and operate the Leased Property and the Facility for the Primary Intended Use in compliance with all applicable Legal Requirements.
(c) Lessee covenants and agrees that during the Term it will use its reasonable best efforts to operate continuously the Leased Property in accordance with its Primary Intended Use and to maintain its certifications for reimbursement, if any, and licensure and its accreditation, if compliance with accreditation standards is required to maintain the operations of the Facility and if a failure to comply would adversely affect operations of the Facility.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility or cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, including any Capital Addition whether or not financed by Lessor, to be used in such a manner as (i) might is reasonably tend likely to impair Landlord’s title thereto Lessor's estate therein or to any portion thereof thereof, or (ii) may make possible is reasonably likely to result in a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(df) Except Lessee will not utilize any Hazardous Materials on the Leased Property except in instances accordance with applicable Legal Requirements and will not permit any contamination which may require remediation under any applicable Hazardous Materials Law. Lessee agrees not to dispose of casualty any Hazardous Materials or condemnation, Tenant shall continuously operate each substances within the sewerage system of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided and that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased it will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facilityhandle all "red bag" wastes in accordance with applicable Hazardous Materials Laws.
Appears in 2 contracts
Samples: Lease Agreement (Emeritus Corp\wa\), Lease Agreement (Emeritus Corp\wa\)
Use of the Leased Property. (a) Tenant Lessee covenants that it will exercise reasonable efforts to obtain and to maintain all approvals needed to use and operate the Leased Property for its Primary Intended Purpose, as defined in Section 7.2(b) below, and applicable Legal Requirements.
(b) Lessee shall use or cause to be used the Leased Property only as a Residence Inn hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its “Primary Intended Use”). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor’s sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter’s regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee’s Personal Property.
(bc) Tenant Subject to the provisions of Articles 14, 15, 18 and 21, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement, (3) not terminate or amend the Franchise Agreement without the consent of Lessor (which shall not be unreasonably withheld or delayed), and (4) maintain appropriate certifications and Licenses for such use.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee’s Personal Property, to be used in such a manner as (i1) might reasonably tend to impair LandlordLessor’s (or Lessee’s, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 2 contracts
Samples: Hotel Lease Agreement (Moody National REIT II, Inc.), Hotel Lease Agreement (Moody National REIT II, Inc.)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise its reasonable best efforts to obtain and to maintain all approvals needed to use and operate the Leased Property and the Hotel under applicable local, state and federal law. Lessor covenants that it will cooperate in good faith in all respects, at Lessee's expense, in connection with Lessee's efforts to obtain and maintain such approvals.
(b) Lessee shall use or cause to be used the Leased Property only as a hotel facility of the class and quality at least equal to that of the improvements thereon Hotel as of each Facility the Commencement Date, and for its Primary Intended Usesuch other uses as may be necessary or incidental to such hotel facility use or such other or additional use as otherwise approved in writing by Lessor (the "PRIMARY INTENDED USE"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor's sole discretion. Landlord acknowledges No use shall be made or permitted to be made of the Leased Property, other than the Primary Intended Use, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by Legal Requirements or fire underwriter's regulations. Lessee shall, at its sole cost, comply with all of the requirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property, unless such compliance requires the performance of a Capital Improvement or the payment of a Capital Imposition, in which case Lessor shall pay the cost of such Capital Improvement or Capital Imposition in order for Lessee so to comply.
(c) Subject to any provisions of this Lease to the contrary, Lessee covenants and agrees that operation of each Facility during the Term it will (i) continuously operate the Leased Property for its the Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control (subject to closures of all or participate in the conduct part of the gaming and/or racing operations at Hotel during Unavoidable Occurrences and by prior agreement with Lessor during the Facilitiesconstruction of PIP improvements and Contemplated Renovations), (ii) keep in full force and effect and comply with all the provisions of any Franchise Agreement (other than requirements with respect to Capital Improvements and other obligations of Lessor hereunder), (iii) not terminate or amend any Franchise Agreement without the consent of Lessor (which consent shall not be unreasonably withheld), (iv) maintain appropriate certifications and licenses for such use, (v) seek to maximize the Gross Revenues generated therefrom consistent with sound business practices and Lessee's concurrent goal of maximizing its net operating income therefrom and (vi) upon request, keep Lessor advised of the status of any material or uninsured litigation affecting the Leased Property.
(bd) Tenant Lessor covenants and agrees that during the Term it will (1) not take or allow any Affiliate to take or fail to take any action that would interfere with, restrict or prohibit Lessee's operation of the Leased Property as the Primary Intended Use, including, without limitation, modifying, amending or terminating any Franchise Agreement or any licenses, Franchises, permits, easements, leases, undertakings or agreements held by Lessor or such Affiliate and pertaining to the Leased Property, and (2) comply with all the provisions of any Franchise Agreement relating to Capital Improvements, the payment of Real Estate Taxes, Personal Property Taxes, Capital Impositions and other requirements thereof that are not the responsibility of Lessee hereunder.
(e) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Term.
(c) Tenant thereon. Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Hotel (or other Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or ) on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 2 contracts
Samples: Lease Agreement (Felcor Lodging Trust Inc), Lease Agreement (Bristol Hotels & Resorts Inc)
Use of the Leased Property. (a) Tenant Lessee covenants that it will exercise reasonable efforts to obtain and to maintain all approvals needed to use and operate the Leased Property for its Primary Intended Purpose, as defined in Section 7.2(b) below, and applicable Legal Requirements.
(b) Lessee shall use or cause to be used the Leased Property only as a Hampton Inn hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its “Primary Intended Use”). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor’s sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter’s regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee’s Personal Property.
(bc) Tenant Subject to the provisions of Articles 14, 15, 18 and 21, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement, (3) not terminate or amend the Franchise Agreement, without the consent of Lessor (which shall not be unreasonably withheld or delayed), and (4) maintain appropriate certifications and Licenses for such use.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee’s Personal Property, to be used in such a manner as (i1) might reasonably tend to impair LandlordLessor’s (or Lessee’s, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 2 contracts
Samples: Master Lease Agreement (Moody National REIT I, Inc.), Master Lease Agreement (Moody National REIT I, Inc.)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise its best efforts to obtain and to maintain all approvals needed to use and operate the Leased Property and the Facility under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use, or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor. No use shall be made or permitted to be made of the Leased Property, and no acts shall be done, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation will cause the cancellation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control or participate in the conduct of the gaming and/or racing operations at the Facilities.
(b) Tenant shall not commit or suffer to be committed any waste on insurance policy covering the Leased Property or any part thereof (including unless another adequate policy satisfactory to Lessor is available and Lessee pays any Capital Improvement thereto) or cause premium increase), nor shall Lessee sell or permit any nuisance thereon to be kept, used or to, except as required by law, take sold in or suffer any action or condition that will diminish the ability of about the Leased Property to be used as a Gaming Facility after the expiration any article which is prohibited by law or earlier termination fire underwriter's regulations. Lessee shall comply with all of the Termrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property, which compliance shall be performed at Lessee's sole cost except to the extent that such compliance requires the performance of a Capital Improvement or the payment of a Capital Imposition which are Lessor's responsibilities.
(c) Tenant shall neither suffer nor permit Subject to the provisions of Articles XIV and XV, Lessee covenants and agrees that during the Term it will either directly or through an approved manager (1) operate continuously (subject to Unavoidable Occurrences) the Leased Property or any portion thereof to be used as a hotel facility, (2) keep in such a manner as (i) might reasonably tend to impair Landlord’s title thereto or to any portion thereof or (ii) may make possible a claim of adverse use or possession, or an implied dedication full force and effect and comply in all material respects with all the provisions of the Leased Property Franchise Agreement, except Lessee shall have no obligation to complete any Capital Improvements required by Franchisor as set forth in Article XXXVII hereof, (3) not terminate or amend in any portion thereof.
(d) Except in instances respect the Franchise Agreement without the consent of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.Lessor,
Appears in 2 contracts
Samples: Merger Agreement (American General Hospitality Corp), Merger Agreement (Capstar Hotel Co)
Use of the Leased Property. (a) Tenant After the Commencement Date and during the entire Term, Lessee shall use or cause to be used the Leased Property and the improvements thereon of each Facility as an inpatient rehabilitation hospital and for its such other uses as may be necessary in connection with or incidental to such use (the “Primary Intended Use”). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control shall not be unreasonably withheld or participate in the conduct of the gaming and/or racing operations at the Facilitiesdelayed.
(b) Tenant Lessee covenants that it will obtain and maintain all material approvals needed to use and operate the Leased Property and the Facility for the Primary Intended Use in compliance with all applicable Legal Requirements.
(c) Lessee covenants and agrees that during the Term it will use its reasonable best efforts to operate continuously the Leased Property in accordance with its Primary Intended Use and to maintain its certifications for reimbursement and licensure and its accreditation, if compliance with accreditation standards is required to maintain the operations of the Facility and if a failure to comply would adversely affect operations of the Facility.
(d) Lxxxxx shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, including any Capital Addition whether or not financed by Lessor, to be used in such a manner as (i) might reasonably tend to impair LandlordLessor’s (or Lxxxxx’s, as the case may be) title thereto or to any portion thereof thereof, or (ii) may make possible reasonably result in a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(df) Except Lessee will not utilize any Hazardous Materials on the Leased Property except in instances accordance with applicable Legal Requirements and will not permit any contamination which may require remediation under any applicable Hazardous Materials Law. Lxxxxx agrees not to dispose of casualty any Hazardous Materials or condemnation, Tenant shall continuously operate each substances within the sewerage system of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided and that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased it will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facilityhandle all “red bag” wastes in accordance with applicable Hazardous Materials Laws.
Appears in 2 contracts
Samples: Assignment and Assumption of Lease (Global Medical REIT Inc.), Assignment and Assumption of Lease (Global Medical REIT Inc.)
Use of the Leased Property. (a) Tenant 7.2.1 Lessee covenants that it will proceed with due diligence and will exercise commercially reasonable efforts to obtain and to maintain all approvals needed to use and operate the Leased Property and each Facility in accordance with Legal Requirements.
7.2.2 During the Term, Lessee shall use or cause to be used the Facilities as assisted living facilities, and for such other uses as may be necessary or incidental to such use (the particular such use to which the Leased Property and is put is herein referred to as the improvements thereon of each Facility for its “Primary Intended Use”). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any use other use than the Primary Intended Use without the prior written consent of LandlordLessor, which consent Landlord may withhold be withheld in Lessor’s sole and absolute discretion. No use shall be made of the Leased Property, and no acts shall be done, which will cause the cancellation of any insurance policy covering the Leased Property or any part thereof, nor shall Lessee sell or otherwise provide to residents or patients therein, or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by Insurance Requirements or Legal Requirements. Lessee shall, at its sole discretion. Landlord acknowledges cost, comply with all Insurance Requirements and Legal Requirements.
7.2.3 Lessee covenants and agrees that, subject to closures resulting from fire or other casualty, condemnation or Unavoidable Delays that operation of each Facility for may occur, during the Term it will operate continuously the Leased Property in accordance with its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control or participate in the conduct of the gaming and/or racing operations at the FacilitiesUse.
(b) Tenant 7.2.4 Lessee shall not commit or suffer to be committed any waste on the Leased Property (including Property, or in any Capital Improvement thereto) or Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition thereon. Lessor acknowledges that will diminish the ability Lessee’s operation of the Leased Property to be used as a Gaming Facility after Facilities in accordance with the expiration Primary Intended Use will not constitute waste or earlier termination of the Termnuisance.
(c) Tenant 7.2.5 Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, including Lessee’s Personal Property, to be used in such a manner as (i) it might reasonably tend to impair LandlordLessor’s (or Lessee’s, as the case may be) title thereto or to any portion thereof thereof, or (ii) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 2 contracts
Samples: Master Lease Agreement (Assisted Living Concepts Inc), Master Lease Agreement (Assisted Living Concepts Inc)
Use of the Leased Property. (a) Tenant After the Commencement Date and during the entire Term, Lessee shall use or cause to be used the Leased Property and the improvements thereon of each Facility as a licensed comprehensive mental health hospital facility including a licensed subacute care unit, and for its such other uses as may be necessary in connection with or incidental to such use (the "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control or participate in the conduct of the gaming and/or racing operations at the FacilitiesLessor.
(b) Tenant Lessee covenants and warrants that (i) it has obtained and will maintain all Federal, state and local approvals, authorizations, consents and permits necessary for the use and operation of the Leased Property and the Facility for the Primary Intended Use, (ii) it is and will remain fully qualified to participate in and receive payment under private insurance programs having broad application and federal, state and local governmental programs providing for payment or reimbursement for services rendered, and (iii) it is and will remain accredited by the Joint Commission on Accreditation on Health Care Organizations or any successor organization providing like inspection and accreditation.
(c) Lessee covenants and agrees that during the Term it will continuously operate the Leased Property in accordance with its Primary Intended Use and maintain its certifications for reimbursement, licensure and accreditation.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) or cause in the Facility, or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, including any Capital Addition whether or not financed by Lessor, to be used in such a manner as (i) might reasonably tend to impair Landlord’s title thereto Lessor's or to Lessee's estate therein or in any portion thereof thereof, or (ii) may make possible reasonably result in a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(df) Except Lessee will not utilize any Hazardous Materials on the Leased Property except in instances accordance with applicable Legal Requirements and will not permit any contamination which may require remediation under any applicable Hazardous Materials Law. Lessee agrees not to dispose of casualty any Hazardous Materials or condemnation, Tenant shall continuously operate each substances within the sewerage system of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided and that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased it will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facilityhandle all "red bag" wastes in accordance with applicable Hazardous Materials Laws.
Appears in 2 contracts
Samples: Lease Agreement (Ramsay Health Care Inc), Lease Agreement (Ramsay Health Care Inc)
Use of the Leased Property. 11.1. The Lessee will be required to obtain from the competent authorities all licenses which are required to manage the business in the Leased Property, within the framework of the Lease Purpose, and undertakes to manage the business only in accordance with the aforementioned licenses, legal requirements and requirements issued by any competent authority. The Lessee hereby declares that it knows and has verified that it is possible to obtain the licenses specified in this section, and that the Lessor will bear no liability whatsoever in the event that the Lessee is unable to obtain them. Without derogating from the provisions of this subsection, it is hereby clarified that the Lessee undertakes, as a condition for the transfer of the possession of the Leased Property, to obtain from the fire department in the Rehovot district a fire extinguishing certificate with respect to the Leased Property, and for this purpose, to furnish to the fire department any authorization which may be required, to install any facility and/or system which may be required, all at the Lessee’s own expense and under the Lessee’s responsibility.
11.2. The Lessee will not keep any materials, tools, equipment, products, inventory, or any other Chattels whatsoever (ahereinafter, jointly: “Chattels”) Tenant shall outside of the Leased Property, without the Lessor’s consent. In the event that any of the Lessee’s Chattels are located outside of the Leased Property, without having obtained the Lessor’s consent to the foregoing, the Lessor will be entitled to remove them from the location, at the Lessee’s expense, and will not bear any liability whatsoever for their condition.
11.3. The Lessee will comply with all laws, regulations and bylaws which apply to the Leased Property, the use thereof, and the business, the work and the actions performed therein.
11.4. The Leased Property, or cause to any part thereof, may not be used in a manner which causes noise, odors, shocks, pollution, smoke, dust or any other nuisance which exceeds a reasonable degree, in consideration of the nature of the Park in general, and the nature of the Leased Property’s close surrounding area in particular.
11.5. The Lessee will not dispose into the sewage system any waste which in terms of its quantity or quality may harm the aforementioned system, or affect its proper functioning, or which may risk the ordinary use of water sources, rivers, lakes, the sea, or any other source. For the purpose of this section — “sewage system” shall mean central sewage or absorption pits, as well as tunneling and drainage systems and water purification systems, if any. The Lessee is required to ensure that no solid materials are present in the sewage which may harm the pipes or tunnels, and harm or clog the sewage pipes, inspection cells, measurement instrument or purification facilities.
11.6. The Lessee undertakes not to hang, not to install and not to draw any signs, marking or advertisements of any form whatsoever in any part of the Building in which the Leased Property is located, without the Lessor’s advance consent. The Lessee will be entitled to receive, at its own expense, a sign at the entrance to the Park, in the Building and on the floor where the Leased Property is located, according to the conventional framework used in the Park.
11.7. All areas outside of the Leased Property may not be used other than for the purpose of accessing the Leased Property according to the way and manner determined by the Lessor from time to time.
11.8. The Lessee undertakes not to use the Leased Property and any materials and devices maintained therein, and not to perform any actions with respect thereto which involve risks which exceed the improvements thereon of each Facility insured risks, as specified in this Agreement, unless the Lessor has given its advance written consent for the foregoing. In the event that such consent has been given, the Lessee undertakes to maintain insurance to the Lessor’s satisfaction, against any physical injury and damage to property which may be caused due to such risks, without derogating from the Lessor’s right to prepare the aforementioned additional insurance independently, in which case the Lessee will be obligated to repay to the Lessor, immediately upon its Primary Intended Usedemand, any amount which the Lessor has spent in connection therewith.
11.9. Tenant shall not The Lessee will use the Leased Property and its surrounding area in a manner which will not cause any disturbance to the other occupants of the Building, or any portion thereof to their welfare or any Capital Improvement thereto for any other use without of their leased properties, while maintaining the prior written consent intactness and cleanliness of Landlord, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control or participate the common property in the conduct of the gaming and/or racing operations at the FacilitiesBuilding and its facilities.
(b) Tenant shall 11.10. Without derogating from the provisions stated above in this section, the Lessee undertakes not commit or suffer to be committed make any waste on the Leased Property (including any Capital Improvement thereto) or cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability use of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination which causes any noise and/or nuisance and/or pollution and/or ensuing result which is in breach of the Term.
(c) Tenant shall neither suffer nor permit provisions of any law, and without derogating from the Leased Property or generality of the foregoing, will not make any portion thereof to be used in such a manner as (i) might reasonably tend to impair Landlord’s title thereto or to any portion thereof or (ii) may make possible a claim of adverse use or possession, or an implied dedication of the Leased Property which involves and/or which creates, whether directly or indirectly, any portion thereof.
(d) Except chemical compounds and/or smoke and/or gas and/or malodors and/or other active substances which cause harm and/or which may cause harm to the environment, in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Useany manner whatsoever. Tenant It is hereby especially emphasized that in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenantany case, the Facilities, or on Lessee must absolutely refrain from performing actions involving cooking and/or frying in the Leased Property, taken and that insofar as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which Lessee will be calculated based on permitted to operate a lunch room, kitchenette, or any similar space in the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for Leased Property, the Fiscal Year immediately preceding foregoing will only constitute permission to warm prepared food in the time that Tenant ceased operations at Leased Property only, under the Facilityconditions as instructed by the Lessor, including regarding the installation of ventilators, etc.
11.11. The provisions of this section constitute a fundamental provision of the Agreement, and any breach thereof, or of any part thereof, will constitute a fundamental breach of the Agreement.
Appears in 2 contracts
Samples: Lease Agreement (CollPlant Holdings Ltd.), Lease Agreement (CollPlant Holdings Ltd.)
Use of the Leased Property. (a) Throughout the Term of this Master Lease, Tenant shall use have the exclusive right to use, or cause to be used used, the Leased Property and the improvements thereon of each Facility for its Primary Intended Use; it being agreed and acknowledged by Landlord that any of Tenant’s Subsidiaries (including but not limited to the Subsidiaries set forth on Schedule 7.2 attached hereto) shall have the right to use, occupy and operate the Leased Property subject to and in accordance with the terms of this Master Lease and such Subsidiaries shall have the right to discharge any or all of Tenant’s obligations (maintenance or otherwise) hereunder on behalf of Tenant. Tenant shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operateshall not be unreasonably withheld, control conditioned or participate in the conduct of the gaming and/or racing operations at the Facilitiesdelayed.
(b) Tenant shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) or cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Communications Facility after the expiration or earlier termination of the Term.
(c) Tenant shall neither suffer nor permit the Leased Property or any portion thereof to be used in such a manner as (i) might reasonably tend to impair Landlord’s title thereto or to any portion thereof or (ii) may make possible a claim of adverse use or possession, or an implied dedication of the Leased Property or any portion thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for one or more of the activities constituting the Primary Intended Use, with the specific use conducted at any portion of the Facilities to be determined by Tenant in its reasonable discretion. Notwithstanding the foregoing, Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would either (x) not reduce the route miles of the fiber optic and copper cable lines with respect to any one Facility by more than ten percent (10%) or the Facilities as a whole by more than five percent (5%) in the aggregate over the Term or (y) not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; cessation and such cessation does not result in any non-compliance with any Legal Requirements, Communications Licenses, Pole Agreements or Communications Regulations.
(e) Any sublease (including, but not limited to, any rights granted pursuant to a dark fiber agreement, a dim fiber agreement or a collocation agreement) entered into in accordance with the terms of this Master Lease shall constitute a permitted use under this Master Lease and such use thereunder shall be deemed to be included in the definition of Primary Intended Use.
(f) Tenant shall have the right to receive all rents, profits and charges arising from the Primary Intended Use of the Leased Property or any sublease of the Leased Property, including but not limited to: (i) contract charges and tariffed rates to third parties on a wholesale basis, (ii) rents collected from Pole Agreements, and (iii) payments from customer or carriers for dark or dim fiber services. Without limiting the Percentage Rent due from each foregoing, Landlord acknowledges that Tenant (and every Tenant’s Subsidiaries) may charge contract and/or tariff rates to other carriers in such Facility whose operations have ceased will thereafter be amounts as Tenant deems appropriate (subject to a floor which will be calculated based on Legal Requirements) in performing its obligations under the Percentage Rent Communication Regulations (including Tenant’s collocation obligations) and that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for Landlord has no rights to the Fiscal Year immediately preceding the time amounts that Tenant ceased operations at collects from such carriers in connection therewith during the FacilityTerm. Notwithstanding the foregoing, upon the occurrence and during the continuance of an Event of Default that is monetary in nature, Landlord shall have the right to receive all rents, profits and charges arising from any sublease of the Leased Property (including, but not limited to, any rights granted pursuant to a dark fiber agreement, a dim fiber agreement or a collocation agreement) subject to applicable law, and apply such rents, profits and charges to Rent as set forth in Section 22.3.
Appears in 2 contracts
Samples: Master Lease (Windstream Services, LLC), Master Lease (Communications Sales & Leasing, Inc.)
Use of the Leased Property. (a) Tenant shall use or cause to be used the Leased Property and the improvements thereon of each Facility for its Primary Intended Use. Tenant shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control or participate in the conduct of the gaming and/or racing operations at the Facilities.
(b) Tenant shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) or cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Term.
(c) Tenant shall neither suffer nor permit the Leased Property or any portion thereof to be used in such a manner as (i) might reasonably tend to impair Landlord’s title thereto or to any portion thereof or (ii) may make possible a claim of adverse use or possession, or an implied dedication of the Leased Property or any portion thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) when calculating the Percentage Rent due from due, the Net Revenue for each and every such Facility whose operations have permanently ceased will thereafter shall in the year of such cessation, and for each year thereafter, be subject equal to a floor which will be calculated based on the Percentage Rent that would have been paid Net Revenue for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding calendar year immediate prior to the time that Tenant year in which the Facility permanently ceased operations at the Facilityits operations.
Appears in 2 contracts
Samples: Master Lease (PENN Entertainment, Inc.), Master Lease (Gaming & Leisure Properties, Inc.)
Use of the Leased Property. (a) Section 7.2.1. [Tenant shall use proceed with all due diligence and shall exercise its best efforts to obtain and]/*/ [Tenant shall] maintain or cause to be used the maintained all approvals needed to use and operate each Leased Property and the improvements thereon Facility located at each Leased Property under applicable local, state and federal law and all applicable state and federal programs including but not limited to appropriate certifications for reimbursement and licensure, except that with respect to the Leased Properties described in Exhibits A-__, A-__, A- __, the certificate of need issued for the applicable Facility shall be the property of Lessor.
Section 7.2.2. After the Commencement Date and during the entire Term, Tenant shall use each Leased Property and the Leased Improvements thereof as a hospital or a nursing home and each Facility for its that is being used as a hospital on the Commencement Date shall continue to be used as a hospital during the entire Term and each Facility being used as a nursing home on the Commencement Date shall continue to be used as a nursing home during the entire Term (such use being the applicable Leased Property's "Primary Intended Use"). -------------------- Tenant shall not use the applicable Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which ------------ /*/For Leases for Development Properties consent Landlord shall not be unreasonably withheld or delayed. No use shall be made or permitted to be made of the applicable Leased Property, and no acts shall be done, that will cause the cancellation of any insurance policy covering such Leased Property or any part thereof, nor shall Tenant sell or otherwise provide to residents or patients therein, or permit to be kept, used or sold in or about such Leased Property any article which may withhold in be prohibited by law or by the standard form of fire insurance policies, or any other insurance policies required to be carried hereunder, or fire underwriters regulations. Tenant shall, at its sole discretioncost, comply with all of the requirements pertaining to the applicable Leased Property or other improvements of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Tenant's Personal Property.
Section 7.2.3. Landlord acknowledges that operation Tenant shall during the Term operate continuously each Leased Property as a provider of each Facility for health care services in accordance with its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operatemaintain its certifications for reimbursement and licensure and its accreditation, control or participate in if compliance with accreditation standards is required to maintain the conduct operations of the gaming and/or racing Facility and if a failure to comply would adversely affect operations at of the FacilitiesFacility.
(b) Section 7.2.4. Tenant shall not commit or suffer to be committed any waste on the any Leased Property (including Property, or in any Capital Improvement thereto) or Facility, nor shall Tenant cause or permit any nuisance thereon or to, except as required by law, thereon. Tenant shall not take or suffer omit to take any action action, the taking or condition that will diminish omission of which may materially impair the ability value or the usefulness of the such Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termany part thereof for its Primary Intended Use.
(c) Section 7.2.5. Tenant shall neither suffer nor permit the any Leased Property or any portion thereof thereof, including any Capital Addition whether or not financed by Lessor, or Tenant's Personal Property, to be used in such a manner as (i) might reasonably tend to impair Landlord’s Lessor's (or Tenant's, as the case may be) title thereto or to any portion thereof thereof, or (ii) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the applicable Leased Property or any portion thereof.
(d) Except Section 7.2.6. Nothing contained in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion this Section 7.2 shall be permitted deemed to cease operations require Tenant to maintain Medicaid certification at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the any Facility.
Appears in 2 contracts
Samples: Master Lease Agreement (Ventas Inc), Master Lease Agreement (Vencor Healthcare Inc)
Use of the Leased Property. (a) Tenant shall not use (or cause or permit to be used used) the Facility, including the Leased Property and the improvements thereon of each Facility for its Primary Intended Use. Tenant shall not use the Leased Property Property, or any portion thereof or thereof, including any Capital Improvement thereto Improvement, for any use other use than the Primary Intended Use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility the Leased Property for its Primary Intended Use generally requires may require a Gaming License under applicable Gaming Regulations and that without such a license license, if applicable, neither Landlord nor GLP Landlord REIT may operate, control or participate in the conduct of the gaming and/or racing operations at the FacilitiesFacility. Tenant acknowledges that operation of the Facility for its Primary Intended Use generally may require a Gaming License under applicable Gaming Regulations and that without such a license, if applicable, Tenant may not operate, control or participate in the conduct of the gaming operations at the Facility.
(b) Tenant shall not commit or suffer to be committed any waste with respect to the Facility, including on or to the Leased Property (including any and, without limitation, to the Capital Improvement theretoImprovements) or cause or permit any nuisance thereon or toor, except as required by law, knowingly take or suffer any action or condition that will diminish in any material respect, the ability of the Leased Property to be used as a Gaming Facility (or otherwise for the Primary Intended Use) after the expiration or earlier termination of the TermExpiration Date.
(c) Tenant shall neither not, without the prior written consent of Landlord, which shall not be unreasonably withheld, conditioned or delayed, (i) initiate or support any limiting change in the permitted uses of the Leased Property (or to the extent applicable, limiting zoning reclassification of the Leased Property); (ii) seek any variance under existing land use restrictions, laws, rules or regulations (or, to the extent applicable, zoning ordinances) applicable to the Leased Property or the use of the Leased Property in any manner that adversely affects (other than to a de minimis extent) the value or utility of the Leased Property for the Primary Intended Use; (iii) execute or file any subdivision plat or condominium declaration affecting the Leased Property or any portion thereof, or institute, or permit the institution of, proceedings to alter any tax lot comprising the Leased Property or any portion thereof; or (iv) knowingly permit or suffer nor permit the Leased Property or any portion thereof to be used by the public or any Person in such a manner as (i) might reasonably tend to impair Landlord’s title thereto or to any portion thereof or (ii) may make possible a claim of adverse use usage or possession, possession or an of any implied dedication of or easement (provided that the proscription in this clause (iv) is not intended to and shall not restrict Tenant in any way from complying with any obligation it may have under applicable Legal Requirements, including, without limitation, Gaming Regulations, to afford to the public access to the Leased Property or any portion thereof.
). Without limiting the foregoing, (d1) Except Tenant will not impose or permit the imposition of any restrictive covenants, easements or other encumbrances upon the Leased Property (including, subject to the last paragraph of Section 16.1, any restrictive covenant, easement or other encumbrance which Tenant may otherwise impose or permit to be imposed pursuant to the provisions of any Permitted Exception Document) without Landlord’s consent, which shall not be unreasonably withheld, conditioned or delayed, provided, that, Landlord is given reasonable opportunity to participate in instances of casualty the process leading to such restrictive covenant, easement or condemnationother encumbrance, and (2) other than any liens or other encumbrances granted to a Fee Mortgagee, Landlord will not enter into, amend or otherwise modify agreements that encumber the Leased Property (including the Property Documents) without Tenant’s consent, which shall not be unreasonably withheld, conditioned or delayed, provided, that, Tenant shall continuously operate each is given reasonable opportunity to participate in the process leading to such agreement, amendment or other modification. Landlord agrees it will not withhold consent to utility easements and other similar encumbrances made in the ordinary course of Tenant’s business conducted on the Leased Property in accordance with the Primary Intended Use, provided the same does not adversely affect in any material respect the use or utility of the Facilities Leased Property for the Primary Intended Use. Tenant Nothing in its discretion shall be permitted the foregoing is intended to cease operations at a Facility vitiate or Facilities if such cessation would not reasonably be expected supersede Tenant’s right to have a material adverse effect on Tenant, enter into Permitted Leasehold Mortgages or Landlord’s right to enter into Fee Mortgages in each case as and to the Facilities, or on the Leased Property, taken as a whole, extent provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facilityherein.
Appears in 2 contracts
Samples: Lease Amendment (Caesars Entertainment, Inc.), Lease (Vici Properties Inc.)
Use of the Leased Property. (a) Tenant shall use or cause to be used the Leased Property and the improvements thereon of each Facility (including, without limitation, the Facility) solely for its Primary Intended Use. Tenant shall not use or permit the use of the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each the Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP any Affiliate of Landlord may operate, control or participate in the conduct of the Facility. Tenant acknowledges that operation of the Facility for its Primary Intended Use generally may require a Gaming License under applicable Gaming Regulations and that without such a license, if applicable, Tenant may not operate, control or participate in the conduct of the gaming and/or racing operations at the FacilitiesFacility.
(b) Tenant shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) or cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property Facility to be used as a Gaming Facility or otherwise for the Primary Intended Use (except in connection with any use, or change of use, permitted pursuant to Section 7.2(a)) during the Term or after the expiration or earlier termination of the Term.
(c) Tenant shall neither suffer nor permit the Leased Property or any portion thereof to be used in such a manner as (i) might reasonably tend to impair Landlord’s title thereto or to any portion thereof or thereof, (ii) may make possible a claim of adverse use or possession, or an implied dedication of the Leased Property or any portion thereof.
, (diii) Except in instances of casualty violates any law or condemnation, Tenant shall continuously operate each any of the Facilities provisions set forth in Article XXXII or any other provision of this Lease; (iv) violates any certificates of occupancy for the Primary Intended Use. Tenant Leased Property or make void or voidable any insurance then in its discretion shall be permitted force with respect thereto as is required pursuant to cease operations at a Facility the terms hereof or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on (v) subjects the Leased PropertyProperty or this Lease to any encumbrances, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to other than encumbrances expressly permitted under Article XI or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facilityelsewhere in this Lease.
Appears in 2 contracts
Samples: Ground Lease (Bally's Chicago, Inc.), Ground Lease (Bally's Chicago, Inc.)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise reasonable efforts to obtain and to maintain all Licenses and other approvals needed to use and operate the Leased Property and the Hotel under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a Hampton Inn & Suites hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its “Primary Intended Use”). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor’s sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter’s regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee’s Personal Property.
(bc) Tenant Subject to the provisions of Articles 14, 15, 18 and 21, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement and the Management Agreement, (3) not terminate or amend the Franchise Agreement or the Management Agreement without the consent of Lessor (which shall not be unreasonably withheld or delayed), (4) maintain appropriate certifications and Licenses for such use and (5) seek to maximize the Gross Revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee’s Personal Property, to be used in such a manner as (i1) might reasonably tend to impair LandlordLessor’s (or Lessee’s, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 2 contracts
Samples: Hotel Lease Agreement (Apple REIT Ten, Inc.), Hotel Lease Agreement (Apple REIT Nine, Inc.)
Use of the Leased Property. 7.2.1 Lessee covenants that it will obtain and maintain (aor, in the case of any Facility in respect of which a Master Sublease or management agreement permitted without Lessor’s consent under Sections 24.1.1 and 24.1.12 is in effect between Lessee and any of its Affiliates, cause such Affiliate to obtain and maintain) Tenant all Required Governmental Approvals with respect to each Facility (including for any Capital Additions to such Facility).
7.2.2 Lessee shall use or cause to be used the Leased Property Property, all Capital Additions and the improvements thereon of each Facility only for its the Primary Intended Use of such Facility and for no other uses, except for areas reasonably required for office, storage space or ancillary service uses incidental to the Primary Intended Use. Tenant No change to the Primary Intended Use of any Facility shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use be permitted hereunder without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted or withheld in its sole Lessor’s reasonable discretion. Landlord acknowledges that operation .
7.2.3 Subject to any reasonable interruptions in operations as a result of (i) casualty or condemnation and the restoration thereof in accordance with the applicable provisions of Section 14 and/or Section 15 hereof, or (ii) the remediation of any environmental condition in accordance with the applicable provisions of Section 37.3 hereof, Lessee shall operate continuously the entire Leased Property and all Capital Additions of each Facility for its in accordance with the Primary Intended Use generally requires of such Facility. Lessee shall devote the entirety of each Facility and all Capital Additions thereto to the Primary Intended Use, except for areas reasonably required for office, storage space or ancillary service uses incidental to the Primary Intended Use. Lessee shall not modify the services offered or take any other action (e.g., removing patients or residents from any Facility or directing patients or residents, or prospective patients or residents, to another facility) which would materially reduce Gross Revenues or the Fair Market Value of any Facility.
7.2.4 Lessee shall conduct its business at each Facility in conformity with standards that meet or exceed the standards of such Facility’s operations as of the Commencement Date and in a Gaming License under applicable Gaming Regulations manner consistent with normal and that without such a license neither Landlord nor GLP customary standards of patient or resident care practice (as the same may operate, control or participate change from time to time during the Term) provided in similar facilities in the conduct of the gaming and/or racing operations at the FacilitiesState.
(b) Tenant 7.2.5 Lessee shall not commit or suffer to be committed any physical waste on the Leased Property (including and/or on or to any Capital Improvement thereto) or cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the TermAdditions.
(c) Tenant 7.2.6 Lessee shall neither suffer nor not permit the Leased Property Property, any Capital Additions, or any portion thereof part(s) thereof, or Lessee’s Personal Property, to be used in such a manner as (i) might is reasonably tend likely to impair LandlordLessor’s title thereto or to any portion thereof or (ii) may make possible reasonably likely a claim of adverse use or possession, or an implied dedication of the Leased Property Property, any Capital Additions or any portion part(s) thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 2 contracts
Samples: Master Lease and Security Agreement (Emeritus Corp\wa\), Master Lease and Security Agreement (Hcp, Inc.)
Use of the Leased Property. (a) Tenant shall use or cause to be used the Leased Property and the improvements thereon of each Facility for its Primary Intended Use. Tenant shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control or participate in the conduct of the gaming and/or racing operations at the Facilities.
(b) Tenant shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) or cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Term.
(c) Tenant shall neither suffer nor permit the Leased Property or any portion thereof to be used in such a manner as (i) might reasonably tend to impair Landlord’s title thereto or to any portion thereof or (ii) may make possible a claim of adverse use or possession, or an implied dedication of the Leased Property or any portion thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 2 contracts
Samples: Master Lease (PENN Entertainment, Inc.), Master Lease (Gaming & Leisure Properties, Inc.)
Use of the Leased Property. (a) Tenant shall not use (or cause or permit to be used used) the Facility, including the Leased Property and the improvements thereon of each Facility for its Primary Intended Use. Tenant shall not use the Leased Property Property, or any portion thereof or thereof, including any Capital Improvement thereto Improvement, for any use other use than the Primary Intended Use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility the Leased Property for its Primary Intended Use generally requires may require a Gaming License under applicable Gaming Regulations and that without such a license license, if applicable, neither Landlord nor GLP Landlord REIT may operate, control or participate in the conduct of the gaming and/or racing operations at the FacilitiesFacility. Tenant acknowledges that operation of the Facility for its Primary Intended Use generally may require a Gaming License under applicable Gaming Regulations and that without such a license, if applicable, Tenant may not operate, control or participate in the conduct of the gaming operations at the Facility.
(b) Tenant shall not commit or suffer to be committed any waste with respect to the Facility, including on or to the Leased Property (including any and, without limitation, to the Capital Improvement theretoImprovements) or cause or permit any nuisance thereon or toor, except as required by law, knowingly take or suffer any action or condition that will diminish in any material respect, the ability of the Leased Property to be used as a Gaming Facility (or otherwise for the Primary Intended Use) after the expiration or earlier termination of the TermExpiration Date.
(c) Tenant shall neither not, without the prior written consent of Landlord, which shall not be unreasonably withheld, conditioned or delayed, (i) initiate or support any limiting change in the permitted uses of the Leased Property (or to the extent applicable, limiting zoning reclassification of the Leased Property); (ii) seek any variance under existing land use restrictions, laws, rules or regulations (or, to the extent applicable, zoning ordinances) applicable to the Leased Property or the use of the Leased Property in any manner that adversely affects (other than to a de minimis extent) the value or utility of the Leased Property for the Primary Intended Use; (iii) execute or file any subdivision plat or condominium declaration affecting the Leased Property or any portion thereof, or institute, or permit the institution of, proceedings to alter any tax lot comprising the Leased Property or any portion thereof; or (iv) knowingly permit or suffer nor permit the Leased Property or any portion thereof to be used by the public or any Person in such a manner as (i) might reasonably tend to impair Landlord’s title thereto or to any portion thereof or (ii) may make possible a claim of adverse usage or possession or of any implied dedication or easement (provided that the proscription in this clause (iv) is not intended to and shall not restrict Tenant in any way from complying with any obligation it may have under applicable Legal Requirements, including, without limitation, Gaming Regulations, to afford to the public access to the Leased Property or any portion thereof). Without limiting the foregoing, (1) Tenant will not impose or permit the imposition of any restrictive covenants, easements or other encumbrances upon the Leased Property (including, subject to the last paragraph of Section 16.1, any restriction, covenant, easement or other encumbrance which Tenant may otherwise impose or permit to be imposed pursuant to the provisions of any Permitted Exception Document) without Landlord’s consent, which shall not be unreasonably withheld, conditioned or delayed, provided, that, Landlord is given reasonable opportunity to participate in the process leading to such agreement, and (2) other than any liens or other encumbrances granted to a Fee Mortgagee, Landlord will not enter into, amend or otherwise modify agreements that encumber the Leased Property (including any Property Document) without Tenant’s consent, which shall not be unreasonably withheld, conditioned or delayed, provided, that, Tenant is given reasonable opportunity to participate in the process leading to such agreement. Landlord agrees it will not withhold consent to utility easements and other similar encumbrances made in the ordinary course of Tenant’s business conducted on the Leased Property in accordance with the Primary Intended Use, provided the same does not adversely affect in any material respect the use or possessionutility of the Leased Property for the Primary Intended Use. Nothing in the foregoing is intended to vitiate or supersede Tenant’s right to enter into Permitted Leasehold Mortgages or Landlord’s right to enter into Fee Mortgages in each case as and to the extent provided herein.
(d) Except to the extent resulting from a Permitted Operation Interruption, Tenant shall cause the Facility to be Continuously Operated during the Term.
(e) Subject to Article XII regarding permitted contests, Tenant, at its sole cost and expense, shall promptly (i) comply in all material respects with all Legal Requirements and Insurance Requirements affecting the Facility and the business conducted thereat, including those regarding the use, operation, maintenance, repair and restoration of the Leased Property or an implied dedication any portion thereof (including all Capital Improvements) and Tenant’s Property whether or not compliance therewith may require structural changes in any of the Leased Improvements or interfere with the use and enjoyment of the Leased Property or any portion thereof.
, and (dii) Except procure, maintain and comply in instances of casualty or condemnationall material respects with all Gaming Regulations and Gaming Licenses, Tenant shall continuously operate each and other authorizations required for the use of the Facilities Leased Property (including all Capital Improvements) and Tenant’s Property for the applicable Primary Intended UseUse and any other use of the Leased Property (and Capital Improvements then being made) and Tenant’s Property, and for the proper erection, installation, operation and maintenance of the Leased Property and Tenant’s Property. In an emergency involving an imminent threat to human health and safety or damage to property, or in the event of a breach by Tenant of its obligations under this Section 7.2 which is not cured within any applicable cure period set forth herein, Landlord or its representatives (and any Fee Mortgagee) may, but shall not be obligated to, enter upon the Leased Property (and, without limitation, all Capital Improvements) (upon reasonable prior written notice to Tenant, except in its discretion the case of emergency, and Tenant shall be permitted to cease operations at have Landlord or its representatives accompanied by a Facility or Facilities if representative of Tenant) and take such cessation would not reasonably be expected reasonable actions and incur such reasonable costs and expenses to have a material adverse effect on Tenant, the Facilities, or on such compliance as it deems advisable to protect its interest in the Leased Property, taken as a wholeand Tenant shall reimburse Landlord for all such reasonable out-of-pocket costs and expenses actually incurred by Landlord in connection with such actions.
(f) Tenant shall not, provided that without the following conditions are satisfied: prior written consent of Landlord, cease to operate or permit the Facility to cease to be operated under the “Caesars Palace” Brand.
(g) Without limitation of any of the other provisions of this Lease, Tenant shall comply with all Property Documents (i) no Event of Default has occurred and is continuing immediately prior to that are listed on the title policies described on Exhibit K attached hereto, or immediately after the date that operations are ceased or as a result of such cessation; and (ii) made after the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter Commencement Date in accordance with the terms of this Lease or as may otherwise be subject entered into or agreed to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facilityin writing by Tenant.
Appears in 2 contracts
Samples: Lease Amendment (Vici Properties Inc.), Lease Amendment (CAESARS ENTERTAINMENT Corp)
Use of the Leased Property. (a) Tenant Lessee covenants that it will obtain and to maintain all approvals needed to use and operate the Leased Property and the Facility under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor's sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or substantially increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
(bc) Tenant Subject to the provisions of Articles XIV and XV, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and materially comply with all the provisions of the Franchise Agreement (except that Lessee shall have no obligation to complete any improvements to the Leased Property required by the franchisor unless the Lessor funds the cost thereof), (3) not terminate or amend the Franchise Agreement without the consent of Lessor, (4) maintain appropriate certifications and licenses for such use and (5) will seek to maximize the Gross Revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 2 contracts
Samples: Lease Agreement (Humphrey Hospitality Trust Inc), Master Lease Agreement (Humphrey Hospitality Trust Inc)
Use of the Leased Property. (a) Section 7.2.1 Tenant shall use maintain or cause to be used maintained all licenses, permits, approvals and other Authorizations needed to use and operate for its Primary Intended Use (or any other use permitted under the terms of this Lease) each Leased Property and the improvements thereon Facility located at each such Leased Property under and in accordance with all applicable local, state and federal laws and all applicable state and federal programs including but not limited to appropriate certifications for reimbursement and licensure. All of such Authorizations shall, to the maximum extent permitted by law, relate and apply exclusively to one or more of the Leased Properties and/or the Facilities operated thereon. Tenant acknowledges and agrees that, subject to applicable law, the certificates of need issued for the Facilities are appurtenant to such Facilities, both during and following the termination or expiration of the Term. In jurisdictions where the certificate of need is issued to Tenant or its subtenant, as the Facility operator, Tenant agrees that it shall cooperate with Lessor, in accordance with Section 40.3 ------------ hereof, to turn over all of Tenant's rights in connection with such certificate of need to Lessor or its designee.
Section 7.2.2 After the Commencement Date and during the entire Term, Tenant shall use each Leased Property and the Leased Improvements thereof as a hospital or a nursing center and each Facility for its that is being used as a hospital on the Commencement Date shall continue to be used as a hospital during the entire Term and each Facility being used as a nursing center on the Commencement Date shall continue to be used as a nursing center during the entire Term (such use being the applicable Leased Property's "Primary Intended Use"). Tenant -------------------- shall not use the applicable Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord shall not be unreasonably withheld, delayed or conditioned. No use shall be made or permitted to be made of the applicable Leased Property, and no acts shall be done, that will cause the cancellation of any insurance policy covering such Leased Property or any part thereof, nor shall Tenant sell or otherwise provide to occupants or patients therein, or permit to be kept, used or sold in or about such Leased Property any article which may withhold in be prohibited by law or by the standard form of fire insurance policies, or any other insurance policies required to be carried hereunder, or fire underwriters regulations. Tenant shall, at its sole discretion. Landlord acknowledges that operation cost, comply with all of the requirements pertaining to the applicable Leased Property or other improvements of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering such Leased Property and Tenant's Personal Property.
Section 7.2.3 Tenant shall during the Term operate continuously each Facility for Leased Property in accordance with all applicable federal, state and local laws as a provider of health care services in accordance with its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operatemaintain its certifications for reimbursement and licensure and its accreditation, control or participate in if compliance with accreditation standards is required to maintain the conduct operations of the gaming and/or racing Facility and if a failure to comply would adversely affect operations at of the FacilitiesFacility.
(b) Section 7.2.4 Tenant shall not commit or suffer to be committed any waste on the any Leased Property (including Property, or in any Capital Improvement thereto) or Facility, nor shall Tenant cause or permit any nuisance thereon or to, except as required by law, thereon. Tenant shall not take or suffer omit to take any action action, the taking or condition that will diminish omission of which may materially impair the ability value or the usefulness of the such Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termany part thereof for its Primary Intended Use.
(c) Section 7.2.5 Tenant shall neither suffer nor permit the any Leased Property or any portion thereof thereof, including any Capital Alteration whether or not financed by Lessor, or Tenant's Personal Property, to be used in such a manner as (i) might reasonably tend to impair Landlord’s Lessor's (or Tenant's, as the case may be) title thereto or to any portion thereof thereof, or (ii) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the applicable Leased Property or any portion thereof.
(d) Except Section 7.2.6 Nothing contained in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion this Section 7.2 shall be permitted deemed ----------- to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: prevent Tenant from (i) no Event of Default has occurred voluntarily withdrawing from the Medicaid program, and is continuing immediately prior voluntarily de-activating its certification for participation therein, as the same apply to a Facility(ies), or immediately after the date that operations are ceased or as a result of such cessation; and (ii) voluntarily reducing the Percentage Rent due number of beds at a Facility(ies) as to which a certification for reimbursement under the Medicaid program is applicable (but without affecting Tenant's certification for participation in the Medicaid program as to any such Facility(ies) and without reducing the number of beds at any Facility(ies) as to which a certification for participation in the Medicaid program is applicable below any legally required minimum number of beds), or (iii) voluntarily reducing the number of beds at a Facility(ies) as to which a certification for reimbursement under the Medicare program is applicable (but without affecting Tenant's certification for participation in the Medicare program as to any such Facility(ies) and without reducing the number of beds at any Facility(ies) as to which a certification for participation in the Medicare program is applicable below any legally required minimum number of beds), in each case if and so long as, in accordance with any and all laws, statutes, rules, regulations and orders applicable to the Medicaid and Medicare programs and certifications for participation therein and to any such Facility(ies), Tenant or any successor operator of such Facility(ies) may at any time at its election, without the necessity of any governmental approval or additional Authorization (other than routine governmental re-inspections of such Facility(ies) and any ministerial approvals and other Authorizations), as applicable depending upon whether subsection (i), (ii) and/or (iii) above is applicable, (a) promptly rejoin the Medicaid program, and re-activate its certification for participation in the Medicaid program, at any such Facility(ies) and/or (b) promptly re-activate its certification for participation in the Medicaid program and/or Medicare program, as applicable, as to any beds as to which a voluntary reduction under subsection (ii) and/or (iii) above is applicable. At the time, and as a condition, of any such voluntary withdrawal and de-activation, or voluntary reduction, by Tenant and thereafter within twenty (20) days after receipt of a written request therefor from each Lessor from time to time (but not more often than twice in any calendar year, unless, after Lessor has made two (2) such requests in a calendar year, a change(s) in Legal Requirements becomes effective, or Lessor obtains knowledge of other facts or circumstances, suggesting a possible violation of this Section 7.2.6), Tenant ------------- shall deliver to Lessor a Senior Officer's Certificate, in form and every such Facility whose operations have ceased will thereafter be subject substance reasonably satisfactory to a floor which will be calculated Lessor, certifying that Tenant has made diligent inquiry relative to the applicable Legal Requirements and has consulted with its legal counsel and, based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time foregoing, certifies that Tenant ceased operations at has complied, and continues to comply, with the Facilityprovisions of this Section 7.2.6 in connection ------------- with such voluntary withdrawal and de-activation and/or voluntary reduction.
Appears in 2 contracts
Samples: Master Lease Agreement (Kindred Healthcare Inc), Master Lease Agreement (Kindred Healthcare Inc)
Use of the Leased Property. (a) Tenant shall not use (or cause or permit to be used used) the Facility, including the Leased Property and the improvements thereon of each Facility for its Primary Intended Use. Tenant shall not use the Leased Property Property, or any portion thereof or thereof, including any Capital Improvement thereto Improvement, for any use other use than the Primary Intended Use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility the Leased Property for its Primary Intended Use generally requires may require a Gaming License under applicable Gaming Regulations and that without such a license license, if applicable, neither Landlord nor GLP Landlord REIT may operate, control or participate in the conduct of the gaming and/or racing operations at the FacilitiesFacility. Tenant acknowledges that operation of the Facility for its Primary Intended Use generally may require a Gaming License under applicable Gaming Regulations and that without such a license, if applicable, Tenant may not operate, control or participate in the conduct of the gaming operations at the Facility.
(b) Tenant shall not commit or suffer to be committed any waste with respect to the Facility, including on or to the Leased Property (including any and, without limitation, to the Capital Improvement theretoImprovements) or cause or permit any nuisance thereon or toor, except as required by law, knowingly take or suffer any action or condition that will diminish in any material respect, the ability of the Leased Property to be used as a Gaming Facility (or otherwise for the Primary Intended Use) after the expiration or earlier termination of the TermExpiration Date.
(c) Tenant shall neither not, without the prior written consent of Landlord, which shall not be unreasonably withheld, conditioned or delayed, (i) initiate or support any limiting change in the permitted uses of the Leased Property (or to the extent applicable, limiting zoning reclassification of the Leased Property); (ii) seek any variance under existing land use restrictions, laws, rules or regulations (or, to the extent applicable, zoning ordinances) applicable to the Leased Property or the use of the Leased Property in any manner that adversely affects (other than to a de minimis extent) the value or utility of the Leased Property for the Primary Intended Use; (iii) execute or file any subdivision plat or condominium declaration affecting the Leased Property or any portion thereof, or institute, or permit the institution of, proceedings to alter any tax lot comprising the Leased Property or any portion thereof; or (iv) knowingly permit or suffer nor permit the Leased Property or any portion thereof to be used by the public or any Person in such a manner as (i) might reasonably tend to impair Landlord’s title thereto or to any portion thereof or (ii) may make possible a claim of adverse use usage or possession, possession or an of any implied dedication of or easement (provided that the proscription in this clause (iv) is not intended to and shall not restrict Tenant in any way from complying with any obligation it may have under applicable Legal Requirements, including, without limitation, Gaming Regulations, to afford to the public access to the Leased Property or any portion thereof.
). Without limiting the foregoing, (d1) Except Tenant will not impose or permit the imposition of any restrictive covenants, easements or other encumbrances upon the Leased Property (including, subject to the last paragraph of Section 16.1, any restriction, covenant, easement or other encumbrance which Tenant may otherwise impose or permit to be imposed pursuant to the provisions of any Permitted Exception Document) without Landlord’s consent, which shall not be unreasonably withheld, conditioned or delayed, provided, that, Landlord is given reasonable opportunity to participate in instances of casualty the process leading to such agreement, and (2) other than any liens or condemnationother encumbrances granted to a Fee Mortgagee, Landlord will not enter into, amend or otherwise modify agreements that encumber the Leased Property (including the Property Documents) without Tenant’s consent, which shall not be unreasonably withheld, conditioned or delayed, provided, that, Tenant shall continuously operate each is given reasonable opportunity to participate in the process leading to such agreement, amendment or other modification. Landlord agrees it will not withhold consent to utility easements and other similar encumbrances made in the ordinary course of Tenant’s business conducted on the Leased Property in accordance with the Primary Intended Use, provided the same does not adversely affect in any material respect the use or utility of the Facilities Leased Property for the Primary Intended Use. Tenant Nothing in its discretion shall be permitted the foregoing is intended to cease operations at a Facility vitiate or Facilities if such cessation would not reasonably be expected supersede Tenant’s right to have a material adverse effect on Tenant, enter into Permitted Leasehold Mortgages or Landlord’s right to enter into Fee Mortgages in each case as and to the Facilities, or on the Leased Property, taken as a whole, extent provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facilityherein.
Appears in 2 contracts
Samples: Lease Amendment (Vici Properties Inc.), Lease (CAESARS ENTERTAINMENT Corp)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise its best efforts to obtain and to maintain all license, permits and approvals needed to use and operate the Leased Property and each Facility under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as hotel facilities (including food and beverage operations) consistent with its present use, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor's sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property or any part thereof and Lessee's Personal Property.
(bc) Tenant Subject to the provisions of Articles XIV and XV Lessee covenants and agrees that during the Term it will (1) maintain and operate continuously each Facility as a hotel, (2) keep in full force and effect and comply with all the provisions of any Management Agreement, (3) not terminate or amend any Management Agreement without the consent of Lessor, (4) maintain appropriate certifications and licenses for such use and otherwise comply with all Legal Requirements and (5) seek to maximize the gross revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including Property, or any Capital Improvement thereto) or Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof, subject to Lessor's prior consent.
(df) Except in instances of casualty Lessee shall not use, generate, handle, dispose or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or store Hazardous Materials on the Leased Property, taken except in the normal course of operations of the Leased Property as a wholehotel facilities and in compliance with all Environmental Laws.
(g) Lessee shall not enter into any collective bargaining agreements with respect to any of the employees at the Leased Property without the prior consent of Lessor, provided that which shall not be unreasonably withheld or delayed, unless required by law.
(h) Lessee hereby assumes and agrees to perform all of the following conditions are satisfied: obligations of Lessor under all leases in effect at the Leased Property as of the date of commencement of the Term.
(i) no Event Lessee represents that, as of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result hereof, its sole business activity consists of, and Lessee covenants that, during the Term hereof, its sole business activity shall consist of such cessation; the lease and (ii) operation of the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the FacilityLeased Property.
Appears in 2 contracts
Samples: Percentage Lease Agreement (Red Lion Inns Limited Partnership), Percentage Lease Agreement (Boykin Lodging Co)
Use of the Leased Property. (a) Tenant shall use or cause to be used the Leased Property and any Tenant Capital Additions thereto and the improvements thereon of each Facility for its Primary Intended Use. Tenant shall not use the Leased Property or any portion thereof or any Capital Improvement Addition thereto for any other use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control or participate in the conduct of the gaming and/or racing operations at the Facilities.
(b) Tenant shall not commit or suffer to be committed any waste on the Leased Property (including or any Capital Improvement thereto) Addition thereto or cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(c) Tenant shall neither suffer nor permit the Leased Property or any portion thereof to be used in such a manner as (i) might reasonably tend to impair Landlord’s title thereto or to any portion thereof or (ii) may make possible a claim of adverse use or possession, or an implied dedication of the Leased Property or any portion thereof.
(d) Except in instances With respect to each of casualty or condemnationthe Facilities and notwithstanding anything to the contrary that may be authorized by the terms of any applicable Legal Requirements, Tenant may not apply for permission to reduce the licensed bed complement, take any of the licensed beds out of service or move the beds to a different location without the consent of Landlord which may be withheld in the sole discretion of Landlord.
(e) Tenant shall continuously provide and maintain during the Term such Personal Property as shall be reasonably necessary and appropriate in order to operate each of the Facilities for the Primary Intended UseUse in compliance with all licensure and certification requirements and in compliance with all applicable Legal Requirements and Insurance Requirements and as required, in Tenant’s prudent business judgment, to meet the needs of residents of the Facility. Tenant All of the Personal Property described in its discretion this Section 7.2(e) (excluding Tenant’s Personal Property) shall at the expiration or earlier termination of this Master Lease be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred deemed and is continuing immediately prior construed to or immediately after the date that operations are ceased or as a result of such cessation; be Landlord’s Personal Property, and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject surrendered to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the FacilityLandlord in good operating condition.
Appears in 2 contracts
Samples: Master Lease (SHG Services, Inc.), Master Lease (Sabra Health Care REIT, Inc.)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise reasonable efforts to obtain and to maintain all Licenses and other approvals needed to use and operate the Leased Property and the Hotel under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a Homewood Suites hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its “Primary Intended Use”). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor’s sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter’s regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee’s Personal Property.
(bc) Tenant Subject to the provisions of Articles 14, 15, 18 and 21, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement and the Management Agreement, (3) not terminate or amend the Franchise Agreement or the Management Agreement without the consent of Lessor (which shall not be unreasonably withheld or delayed), (4) maintain appropriate certifications and Licenses for such use and (5) seek to maximize the Gross Revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee’s Personal Property, to be used in such a manner as (i1) might reasonably tend to impair LandlordLessor’s (or Lessee’s, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 2 contracts
Samples: Hotel Lease Agreement (Apple REIT Eight, Inc.), Hotel Lease Agreement (Apple REIT Nine, Inc.)
Use of the Leased Property. (a) Tenant 7.2.1 Lessee covenants that it will proceed with due diligence and will exercise commercially reasonable efforts to obtain and to maintain all approvals needed to use and operate the Leased Property and each Facility in accordance with Legal Requirements.
7.2.2 During the Term, Lessee shall use or cause to be used the Facilities as assisted living or residential care facilities, and for such other uses as may be necessary or incidental to such use (the particular such use to which the Leased Property and is put is herein referred to as the improvements thereon of each Facility for its Primary Intended Use"PRIMARY INTENDED USE"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any use other use than the Primary Intended Use without the prior written consent of LandlordLessor, which consent Landlord may be withheld in Lessor's sole and absolute discretion; provided, however, that Lessor may not unreasonably withhold its consent to any alternate use that is within the long term care industry. No use shall be made of the Leased Property, and no acts shall be done, which will cause the cancellation of any insurance policy covering the Leased Property or any part thereof, nor shall Lessee sell or otherwise provide to residents or patients therein, or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by Insurance Requirements or Legal Requirements. Lessee shall, at its sole discretion. Landlord acknowledges cost, comply with all Insurance Requirements and Legal Requirements.
7.2.3 Lessee covenants and agrees that operation of each Facility for during the Term it will operate continuously the Leased Property in accordance with its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control or participate in the conduct of the gaming and/or racing operations at the Facilitieswill maintain its certifications for reimbursement and its licensure.
(b) Tenant 7.2.4 Lessee shall not commit or suffer to be committed any waste on the Leased Property (including Property, or in any Capital Improvement thereto) or Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition thereon. Lessor acknowledges that will diminish the ability Lessee's operation of the Leased Property to be used as a Gaming Facility after Facilities in accordance with the expiration Primary Intended Use will not constitute waste or earlier termination of the Termnuisance.
(c) Tenant 7.2.5 Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, including Lessee's Personal Property, to be used in such a manner as (i) it might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 2 contracts
Samples: Master Lease Agreement (Brookdale Senior Living Inc.), Master Lease Agreement (Brookdale Senior Living Inc.)
Use of the Leased Property. (a) Tenant Lessee covenants that it will obtain and maintain throughout the entire Term all approvals needed to use and operate the Leased Property and the Facility for the Primary Intended Use, as defined below, under applicable local, state and federal law, including but not limited to licensure approvals, Medicare and/or a Medicaid certifications, provider numbers, certificates of need, governmental approvals, and full accreditation from all applicable governmental authorities, if any, that are necessary for the operation of the Facility as a rehabilitation hospital facility.
(b) Beginning on the Commencement Date and during the entire Term, Lessee shall use or cause to be used the Leased Property and the improvements thereon of each Facility as a rehabilitation hospital facility and for its such other uses as may be necessary in connection with or incidental to such use (the "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord Lessee agrees may withhold be withheld in Lessor's sole discretion, provided however, that Lessee shall be permitted to sublease a portion of the Leased Property for provision of therapy or physician office space without Lessor's consent so long as the sublease otherwise complies with the provisions of Article VIII, Article XXIV and Article XL hereof. No use shall be made or permitted to be made of the Leased Property and no acts shall be done which will cause the cancellation of any insurance policy covering the Leased Property or any part thereof, nor shall Lessee sell or otherwise provide to residents or patients therein, or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or by the standard form of fire insurance policies, any other insurance policies required to be carried hereunder, or fire underwriters regulations. Lessee shall, at its sole discretion. Landlord acknowledges cost, comply with all of the requirements, covenants and restrictions pertaining to the Leased Property, including, without limitation, all of the Permitted Exceptions, and other requirements of any insurance board, association, organization or company necessary for the maintenance of the insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
(c) Lessee covenants and agrees that operation of each Facility for during the Term it will continuously operate the Leased Property only in accordance with its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control or participate in the conduct of the gaming and/or racing operations at the FacilitiesLessee shall maintain its certifications for reimbursement and licensure and all accreditations.
(bd) Tenant Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, including any Capital Addition whether or not financed by Lessor, or Lessee's Personal Property, to be used in such a manner as (i) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 2 contracts
Samples: Lease Agreement (Medical Properties Trust Inc), Lease Agreement (Medical Properties Trust Inc)
Use of the Leased Property. (a) Tenant shall not use (or cause or permit to be used used) any Facility, including the Leased Property and the improvements thereon of each Facility for its Primary Intended Use. Tenant shall not use the Leased Property Property, or any portion thereof or thereof, including any Capital Improvement thereto Improvement, for any use other use than the Primary Intended Use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility the Leased Property for its Primary Intended Use generally requires may require a Gaming License under applicable Gaming Regulations and that without such a license license, if applicable, neither Landlord nor GLP Landlord REIT may operate, control or participate in the conduct of the gaming and/or racing operations at a Facility. Tenant acknowledges that operation of a Facility for its Primary Intended Use generally may require a Gaming License under applicable Gaming Regulations and that without such a license, if applicable, Tenant may not operate, control or participate in the Facilitiesconduct of the gaming operations at such Facility.
(b) Tenant shall not commit or suffer to be committed any waste with respect to a Facility, including on or to the Leased Property (including any and, without limitation, to the Capital Improvement theretoImprovements) or cause or permit any nuisance thereon or toor, except as required by law, knowingly take or suffer any action or condition that will diminish in any material respect, the ability of the Leased Property to be used as a Gaming Facility (or otherwise for the Primary Intended Use) after the expiration or earlier termination of the TermExpiration Date.
(c) Tenant shall neither not, without the prior written consent of Landlord, which shall not be unreasonably withheld, conditioned or delayed, (i) initiate or support any limiting change in the permitted uses of the Leased Property (or to the extent applicable, limiting zoning reclassification of the Leased Property); (ii) seek any variance under existing land use restrictions, laws, rules or regulations (or, to the extent applicable, zoning ordinances) applicable to the Leased Property or the use of the Leased Property in any manner that adversely affects (other than to a de minimis extent) the value or utility of the Leased Property for the Primary Intended Use; (iii) execute or file any subdivision plat or condominium declaration affecting the Leased Property or any portion thereof, or institute, or permit the institution of, proceedings to alter any tax lot comprising the Leased Property or any portion thereof; or (iv) knowingly permit or suffer nor permit the Leased Property or any portion thereof to be used by the public or any Person in such a manner as (i) might reasonably tend to impair Landlord’s title thereto or to any portion thereof or (ii) may make possible a claim of adverse usage or possession or of any implied dedication or easement (provided that the proscription in this clause (iv) is not intended to and shall not restrict Tenant in any way from complying with any obligation it may have under applicable Legal Requirements, including, without limitation, Gaming Regulations, to afford to the public access to the Leased Property or any portion thereof). Without limiting the foregoing, (1) Tenant will not impose or permit the imposition of any restrictive covenants, easements or other encumbrances upon the Leased Property (including, subject to the last paragraph of Section 16.1, any restrictive covenant, easement or other encumbrance which Tenant may otherwise impose or permit to be imposed pursuant to the provisions of any Permitted Exception Document) without Landlord’s consent, which shall not be unreasonably withheld, conditioned or delayed, provided, that, Landlord is given reasonable opportunity to participate in the process leading to such restrictive covenant, easement or other encumbrance, and (2) other than any liens or other encumbrances granted to a Fee Mortgagee, Landlord will not enter into, amend or otherwise modify agreements that encumber the Leased Property (including any Property Document) without Tenant’s consent, which shall not be unreasonably withheld, conditioned or delayed, provided, that, Tenant is given reasonable opportunity to participate in the process leading to such agreement, amendment or other modification. Landlord agrees it will not withhold consent to utility easements and other similar encumbrances made in the ordinary course of Tenant’s business conducted on the Leased Property in accordance with the Primary Intended Use, provided the same does not adversely affect in any material respect the use or possessionutility of the Leased Property for the Primary Intended Use. Nothing in the foregoing is intended to vitiate or supersede Tenant’s right to enter into Permitted Leasehold Mortgages or Landlord’s right to enter into Fee Mortgages in each case as and to the extent provided herein.
(d) Except to the extent resulting from a Permitted Operation Interruption, Tenant shall cause each Facility to be Continuously Operated during the Term.
(e) Subject to Article XII regarding permitted contests, Tenant, at its sole cost and expense, shall promptly (i) comply in all material respects with all Legal Requirements and Insurance Requirements affecting each Facility and the business conducted thereat, including those regarding the use, operation, maintenance, repair and restoration of the Leased Property or an implied dedication any portion thereof (including all Capital Improvements) and Tenant’s Property whether or not compliance therewith may require structural changes in any of the Leased Improvements or interfere with the use and enjoyment of the Leased Property or any portion thereof.
, and (dii) Except procure, maintain and comply in instances of casualty or condemnationall material respects with all Gaming Regulations and Gaming Licenses, Tenant shall continuously operate each and other authorizations required for the use of the Facilities Leased Property (including all Capital Improvements) and Tenant’s Property for the applicable Primary Intended UseUse and any other use of the Leased Property (and Capital Improvements then being made) and Tenant’s Property, and for the proper erection, installation, operation and maintenance of the Leased Property and Tenant’s Property. In an emergency involving an imminent threat to human health and safety or damage to property, or in the event of a breach by Tenant of its obligations under this Section 7.2 which is not cured within any applicable cure period set forth herein, Landlord or its representatives (and any Fee Mortgagee) may, but shall not be obligated to, enter upon the Leased Property (and, without limitation, all Capital Improvements) (upon reasonable prior written notice to Tenant, except in its discretion the case of emergency, and Tenant shall be permitted to cease operations at have Landlord or its representatives accompanied by a Facility or Facilities if representative of Tenant) and take such cessation would not reasonably be expected reasonable actions and incur such reasonable costs and expenses to have a material adverse effect on Tenant, the Facilities, or on such compliance as it deems advisable to protect its interest in the Leased Property, taken and Tenant shall reimburse Landlord for all such reasonable out-of-pocket costs and expenses actually incurred by Landlord in connection with such actions.
(f) Tenant shall not, without the prior written consent of Landlord, cease to operate or permit the CPLV Facility to cease to be operated under the “Caesars Palace” Brand.
(g) Without limitation of any of the other provisions of this Lease, Tenant shall comply with all Property Documents (i) that are listed on the title policies described on Exhibit K attached hereto, or (ii) (x) with respect to the Leased Property (CPLV), made after the Commencement Date in accordance with the terms of this Lease or (y) with respect to the Leased Property (HLV), made between the HLV Lease Commencement Date and the Second Amendment Date in accordance with the terms of the HLV Lease or made after the Second Amendment Date in accordance with the terms of this Lease, or (z), as a wholemay otherwise be entered into or agreed to in writing by Tenant.
(h) Tenant shall have the right, subject to Tenant’s receipt of all required approvals from any governmental authority, body or agency, to change the Brand under which the HLV Facility is operated to any other brand, with the costs of such rebranding borne by Tenant, provided that the following conditions are satisfied: (i) no Event Tenant shall give Landlord prior notice of Default has occurred and is continuing immediately prior any change to or immediately after the date that operations are ceased or as a result top-level Brand of such cessation; the HLV Facility and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter shall in all events continue to be subject operated under all other System-wide IP. If any Brand is replaced by another brand pursuant to a floor which will be calculated based on the Percentage Rent that would have been paid for preceding sentence, Landlord and Tenant shall cooperate with one another to make such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facilitychanges to this Lease as are necessary to give effect to such new brand.
Appears in 2 contracts
Samples: Lease (Caesars Entertainment, Inc.), Lease (Vici Properties Inc.)
Use of the Leased Property. (a) Tenant Lessee covenants that it will exercise reasonable efforts to obtain and to maintain all approvals needed to use and operate the Leased Property for its Primary Intended Purpose, as defined in Section 7.2(b) below, and applicable Legal Requirements.
(b) Lessee shall use or cause to be used the Leased Property only as a Hyatt Place hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its “Primary Intended Use”). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor’s sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter’s regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee’s Personal Property.
(bc) Tenant Subject to the provisions of Articles 14, 15, 18 and 21, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement, (3) not terminate or amend the Franchise Agreement, without the consent of Lessor (which shall not be unreasonably withheld or delayed), and (4) maintain appropriate certifications and Licenses for such use.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee’s Personal Property, to be used in such a manner as (i1) might reasonably tend to impair LandlordLessor’s (or Lessee’s, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 2 contracts
Samples: Hotel Lease Agreement (Moody National REIT I, Inc.), Hotel Lease Agreement (Moody National REIT I, Inc.)
Use of the Leased Property. (a) Tenant Lessee covenants that it will obtain and maintain all approvals needed to use and operate the Leased Property and the Facility for the Primary Intended Use, as defined below, under applicable local, state and federal law, including but not limited to licensure requirements and Medicare and/or Medicaid certification.
(b) After the Commencement Date and during the entire Term, Lessee shall use or cause to be used the Leased Property and the improvements thereon of each Facility as a long term nursing facility and for its such other uses as may be necessary in connection with or incidental to such use (the "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord shall not be unreasonably withheld or delayed. No use shall be made or permitted to be made of the Leased Property and no acts shall be done which will cause the cancellation of any insurance policy covering the Leased Property or any part thereof, nor shall Lessee sell or otherwise provide to residents or patients therein, or permit to be kept, used or sold in or about the Leased Property any article which may withhold in be prohibited by law or by the standard form of fire insurance policies, any other insurance policies required to be carried hereunder, or fire underwriters regulations. Lessee shall, at its sole discretion. Landlord acknowledges cost, comply with all of the requirements pertaining to the Leased Property or other improvements of any insurance board, association, organization or company necessary for the maintenance of the insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
(c) Lessee covenants and agrees that operation during the Term it will use its best efforts to operate continuously the Leased Property as a provider of each Facility for health care services in accordance with its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operateto maintain its certifications for reimbursement and licensure and its accreditation, control or participate in if compliance with accreditation standards is required to maintain the conduct operations of the gaming and/or racing Facility and if a failure to comply would adversely affect operations at of the FacilitiesFacility.
(bd) Tenant Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, including any Capital Addition whether or not financed by Lessor, or Lessee's Personal Property, to be used in such a manner as (i) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Use of the Leased Property. (a) Section 7.2.1 Tenant shall use maintain or cause to be used maintained all licenses, permits, approvals and other Authorizations needed to use and operate for its Primary Intended Use (or any other use permitted under the terms of this Lease) each Leased Property and the improvements thereon Facility located at each such Leased Property under and in accordance with all applicable local, state and federal laws and all applicable state and federal programs including but not limited to appropriate certifications for reimbursement and licensure. All of such Authorizations shall, to the maximum extent permitted by law, relate and apply exclusively to one or more of the Leased Properties and/or the Facilities operated thereon. Tenant acknowledges and agrees that, subject to applicable law, the certificates of need issued for the Facilities are appurtenant to such Facilities, both during and following the termination or expiration of the Term. In jurisdictions where the certificate of need is issued to Tenant or its subtenant, as the Facility operator, Tenant agrees that it shall cooperate with Lessor, in accordance with Section 40.3 hereof, to turn over all of Tenant's ------------ rights in connection with such certificate of need to Lessor or its designee.
Section 7.2.2 After the Commencement Date and during the entire Term, Tenant shall use each Leased Property and the Leased Improvements thereof as a hospital or a nursing center and each Facility for its that is being used as a hospital on the Commencement Date shall continue to be used as a hospital during the entire Term and each Facility being used as a nursing center on the Commencement Date shall continue to be used as a nursing center during the entire Term (such use being the applicable Leased Property's "Primary Intended Use"). Tenant -------------------- shall not use the applicable Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord shall not be unreasonably withheld, delayed or conditioned. No use shall be made or permitted to be made of the applicable Leased Property, and no acts shall be done, that will cause the cancellation of any insurance policy covering such Leased Property or any part thereof, nor shall Tenant sell or otherwise provide to occupants or patients therein, or permit to be kept, used or sold in or about such Leased Property any article which may withhold in be prohibited by law or by the standard form of fire insurance policies, or any other insurance policies required to be carried hereunder, or fire underwriters regulations. Tenant shall, at its sole discretion. Landlord acknowledges that operation cost, comply with all of the requirements pertaining to the applicable Leased Property or other improvements of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering such Leased Property and Tenant's Personal Property.
Section 7.2.3 Tenant shall during the Term operate continuously each Facility for Leased Property in accordance with all applicable federal, state and local laws as a provider of health care services in accordance with its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operatemaintain its certifications for reimbursement and licensure and its accreditation, control or participate in if compliance with accreditation standards is required to maintain the conduct operations of the gaming and/or racing Facility and if a failure to comply would adversely affect operations at of the FacilitiesFacility.
(b) Section 7.2.4 Tenant shall not commit or suffer to be committed any waste on the any Leased Property (including Property, or in any Capital Improvement thereto) or Facility, nor shall Tenant cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Term.
(c) Tenant shall neither suffer nor permit the Leased Property or any portion thereof to be used in such a manner as (i) might reasonably tend to impair Landlord’s title thereto or to any portion thereof or (ii) may make possible a claim of adverse use or possession, or an implied dedication of the Leased Property or any portion thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.nuisance
Appears in 1 contract
Use of the Leased Property. (a) Tenant Lessee (i) shall use operate the Facility throughout the entire Term as a Three Hundred Forty- Nine (349)-licensed bed acute care hospital facility, and for such other legal ancillary uses as may be necessary in connection with or cause incidental to be used such use, subject to all covenants, restrictions, easements, and all other matters of record (including those set forth in the Permitted Exceptions) relating to the Leased Property and (the improvements thereon of each Facility for its “Primary Intended Use. Tenant ”), and (ii) as provided in and subject to Section 8.1, shall comply with all Legal Requirements and shall maintain all Licenses, including, but not limited to, Medicare and/or Medicaid certifications, provider numbers and agreements, certificates of need, governmental approvals, and full accreditation from all applicable governmental authorities, if any, that are necessary for the operation of the Facility consistent with the Primary Intended Use.
(b) Except as expressly authorized herein, Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord Xxxxxx agrees may withhold be withheld in its Xxxxxx’s sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control or participate in the conduct of the gaming and/or racing operations at the Facilities.
(bc) Tenant No use shall be made or permitted to be made of the Leased Property and no acts shall be done which will cause the cancellation of any insurance policy covering the Leased Property or any part thereof, nor shall Lessee sell or otherwise provide to residents or patients therein, or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or by the standard form of fire insurance policies, any other insurance policies required to be carried hereunder, or fire underwriters regulations. Lessee shall, at its sole cost, comply with all of the requirements, covenants and restrictions pertaining to the Leased Property, including, without limitation, all of the Permitted Exceptions, and other requirements of any insurance board, association, organization or company necessary for the maintenance of the insurance, as herein provided, covering the Leased Property and Lessee’s Personal Property.
(d) Xxxxxx shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, including any Capital Addition whether or not financed by Lessor, or Lessee’s Personal Property, to be used in such a manner as (i) might reasonably tend to impair LandlordLessor’s (or Xxxxxx’s, as the case may be) title thereto or to any portion thereof thereof, or (ii) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Samples: Lease Agreement
Use of the Leased Property. 7.2.1 Lessee covenants that it will obtain and maintain (aor, in the case of any Facility in respect of which a Master Sublease or management agreement permitted without Lessor’s consent under Sections 24.1.1 and 24.1.12 is in effect between Lessee and any of its Affiliates, cause such Affiliate to obtain and maintain) Tenant all Required Governmental Approvals with respect to each Facility (including for any Capital Additions to such Facility).
7.2.2 Lessee shall use or cause to be used the Leased Property Property, all Capital Additions and the improvements thereon of each Facility only for its the Primary Intended Use of such Facility and for no other uses, except for areas reasonably required for office, storage space or ancillary service uses incidental to the Primary Intended Use. Tenant No change to the Primary Intended Use of any Facility shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use be permitted hereunder without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted or withheld in its sole Lessor’s reasonable discretion. Landlord acknowledges that operation .
7.2.3 Subject to any reasonable interruptions in operations as a result of (i) casualty or condemnation and the restoration thereof in accordance with the applicable provisions of Article XIV and/or Article XV hereof, or (ii) the remediation of any environmental condition in accordance with the applicable provisions of Section 37.3 hereof, Lessee shall operate continuously the entire Leased Property and all Capital Additions of each Facility for its in accordance with the Primary Intended Use generally requires of such Facility. Lessee shall devote the entirety of each Facility and all Capital Additions thereto to the Primary Intended Use, except for areas reasonably required for office, storage space or ancillary service uses incidental to the Primary Intended Use. Lessee shall not modify the services offered or, except as permitted in Section 7.4 hereof, take any other action (e.g., removing patients or residents from any Facility or directing patients or residents, or prospective patients or residents, to another facility) which would materially reduce Gross Revenues or the Fair Market Value of any Facility.
7.2.4 Lessee shall conduct its business at each Facility in conformity with standards that meet or exceed the standards of such Facility’s operations as of theCommencement Date and in a Gaming License under applicable Gaming Regulations manner consistent with normal and that without such a license neither Landlord nor GLP customary standards of patient or resident care practice (as the same may operate, control or participate change from time to time during the Term) provided in similar facilities in the conduct of the gaming and/or racing operations at the FacilitiesState.
(b) Tenant 7.2.5 Lessee shall not commit or suffer to be committed any physical waste on the Leased Property (including and/or on or to any Capital Improvement thereto) or cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the TermAdditions.
(c) Tenant 7.2.6 Lessee shall neither suffer nor not permit the Leased Property Property, any Capital Additions, or any portion thereof part(s)thereof, or Lessee’s Personal Property, to be used in such a manner as (i) might is reasonably tend likely to impair LandlordLessor’s title thereto or to any portion thereof or (ii) may make possible reasonably likely a claim of adverse use or possession, or an implied dedication of the Leased Property Property, any Capital Additions or any portion thereofpart(s)thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Samples: Master Lease and Security Agreement (Brookdale Senior Living Inc.)
Use of the Leased Property. 7.2.1 Lessee covenants that it will obtain and maintain all Required Governmental Approvals with respect to each Facility (a) Tenant including for any Capital Additions to such Facility).
7.2.2 Lessee shall use or cause to be used the Leased Property Property, all Capital Additions and the improvements thereon of each Facility only for its the Primary Intended Use of such Facility and for no other uses, except for areas reasonably required for office, storage space or ancillary service uses incidental to the Primary Intended Use. Tenant No change to the Primary Intended Use of any Facility shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use be permitted hereunder without the prior written consent of Landlord, which Lessor. Lessor’s consent Landlord to any requested change to the Primary Intended Use of any Facility may withhold be granted or withheld in its reasonable discretion as long as the proposed use is for a skilled nursing, assisted living, in-patient hospice, long-term acute care facility, post-acute rehabilitation facility, continuing care retirement community, adult day care facility, out-patient physical rehabilitation facility or clinical laboratories, but Lessor shall have a sole discretiondiscretion approval right with respect to any other proposed changes in use. Landlord Additionally, in connection with any request for a change in the Primary Intended Use, Lessee acknowledges and agrees that operation Lessor’s withholding of its consent to any such request shall be deemed to have been reasonable if based (in whole or in part) on the fact that the contemplated change in use could (at the time of determination) reasonably be expected to materially impair the then Fair Market Value of the Facility and all Capital Additions thereto.
7.2.3 Subject to any reasonable interruptions in operations as a result of (i) casualty or condemnation and the restoration thereof in accordance with the applicable provisions of Section 14 and/or Section 15 hereof, or (ii) the remediation of any environmental condition in accordance with the applicable provisions of Section 37.3 hereof, Lessee shall operate continuously the entire Leased Property and all Capital Additions of each Facility for its in accordance with the Primary Intended Use generally requires of such Facility. Lessee shall devote the entirety of each Facility and all Capital Additions thereto to the Primary Intended Use, except for areas reasonably required for office, storage space or ancillary service uses incidental to the Primary Intended Use. Lessee shall not modify the services offered or take any other action (e.g., removing patients or residents from any Facility or directing patients or residents, or prospective patients or residents, to another facility) which would materially reduce gross revenues or the fair market value of any Facility.
7.2.4 Lessee shall conduct its business at each Facility in conformity with standards that meet or exceed the standards of Lessee’s operations as of the Commencement Date and in a Gaming License under applicable Gaming Regulations manner consistent with normal and that without such a license neither Landlord nor GLP customary standards of patient or resident care practice (as the same may operate, control or participate change from time to time during the Term) provided in similar facilities in the conduct of the gaming and/or racing operations at the FacilitiesState.
(b) Tenant 7.2.5 Lessee shall not commit or suffer to be committed any physical waste on the Leased Property (including and/or on or to any Capital Improvement thereto) or cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the TermAdditions.
(c) Tenant 7.2.6 Lessee shall neither suffer nor not permit the Leased Property Property, any Capital Additions, or any portion thereof part(s) thereof, or Lessee’s Personal Property, to be used in such a manner as (i) might is reasonably tend likely to impair LandlordLessor’s title thereto or to any portion thereof or (ii) may make possible reasonably likely a claim of adverse use or possession, or an implied dedication of the Leased Property Property, any Capital Additions or any portion part(s) thereof.
7.2.7 Except with respect to the bed transfers set forth on Schedule 7.2.7, Lessee shall not voluntarily reduce the number of licensed beds for any Facility from that number set forth on Exhibit A-1, Exhibit X-0, Xxxxxxx X-0, and Exhibit A-4 attached hereto other than voluntary reductions of not more than ten percent (d10%) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for number of beds set forth on Exhibit A-1, Exhibit X-0, Xxxxxxx X-0, and Exhibit A-4 attached hereto in the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, aggregate during the Facilities, or on the Leased Property, taken as a wholeTerm, provided that the following conditions such voluntary reductions are satisfied: (i) no Event transfers of Default has occurred and beds, (a) to any other Facilities covered by this Lease or (b) to any development project or new facility that is continuing immediately prior subject to a Covered Transaction or immediately after the date that operations are ceased or as (ii) a result of such cessation; and (ii) the Percentage Rent due removal of beds from each and every service at a particular Facility without reducing the number of licensed beds at such Facility whose operations have ceased will thereafter be subject and while retaining the right to a floor which will be calculated based on the Percentage Rent that would have been paid for return any such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations beds to service at the Facility.same Facility (so called “bed banking”). Lessee shall provide Lessor written notice within ten (10) Business Days following the completion of
Appears in 1 contract
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise reasonable efforts to obtain and to maintain all Licenses and other approvals needed to use and operate the Leased Property and the Hotel under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a TownePlace Suites hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its “Primary Intended Use”). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor’s sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter’s regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee’s Personal Property.
(bc) Tenant Subject to the provisions of Articles 14, 15, 18 and 21, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement and the Management Agreement, (3) not terminate or amend the Franchise Agreement or the Management Agreement without the consent of Lessor (which shall not be unreasonably withheld or delayed), (4) maintain appropriate certifications and Licenses for such use and (5) seek to maximize the Gross Revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee’s Personal Property, to be used in such a manner as (i1) might reasonably tend to impair LandlordLessor’s (or Lessee’s, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise its best efforts to obtain and to maintain all approvals needed to use and operate the Leased Property and the Facility under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use, or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretionLessor. Landlord acknowledges that operation of each Facility for its No use other than the Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done other than the Primary Intended Use, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which is prohibited by law or fire underwriter's regulations. Lessee shall comply with all of the requirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property, which compliance shall be performed at the FacilitiesLessee's sole cost.
(bc) Tenant Subject to the provisions of Articles 14 and 15, Lessee covenants and agrees that during the Term it will either directly or through an approved manager (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply in all material respects with all the provisions of the Franchise Agreement, (3) not terminate or amend in any respect the Franchise Agreement without the consent of Lessor, (4) maintain appropriate certifications and licenses for such use and (5) keep Lessor advised of the status of any material litigation affecting the Leased Property.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a 34 41 claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(df) Except in instances of casualty or condemnation, Tenant Lessee shall continuously operate each comply with all of the Facilities for Lessor's covenants, in any loan agreement or other financing arrangement, applicable to this Lease or the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on operation of the Leased Property. Notwithstanding the foregoing, taken as a wholeLessee shall not be obligated to comply with Lessor's covenants in any loan agreements which (A)(i) are not customary, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues are not otherwise contemplated by this Lease Agreement or any agreement or instrument executed by Lessee in connection herewith for the Fiscal Year immediately preceding benefit of Lessor, and (iii)(x) materially and adversely affect the time that Tenant ceased operations at the FacilityFacility or (y) materially increase Lessee's costs of doing business or decrease revenues, unless in cases where Subsection (iii)(y) is relied upon by Lessee the additional cost thereof is borne by Lessor, or (B) obligate Lessee to guarantee repayment of any debt of Lessor, or (C) require any indemnification undertakings other than customary undertakings with respect to servicing agents or similar administrative agents which administer escrow accounts into which Lessee may deposit Rent payments as required by Lessor's lenders or other servicing agents. Lessor will provide Lessee with not less than fifteen (15), and will attempt in good faith to provide not less than thirty (30), days prior written notice of the terms of such covenants, and if Lessee is relying upon Subsection (iii)(y), Lessee shall within five (5) days of receipt of such notice, notify Lessor in writing of any anticipated material additional costs which Lessee may incur. Lessor shall then notify Lessee in writing whether it agrees to pay or reimburse Lessee for the material additional cost thereof as incurred by Lessee, and Lessee's receipt of such notice shall be a condition precedent to Lessee's obligation to comply with such covenants. Lessor shall have the right to dispute Lessee's reliance on Subsections (A)-(C) or Lessee's estimates of additional costs pursuant to Subsection (A)(iii)(y), and either party may submit any such disputes to arbitration under the provisions of Article 40.
Appears in 1 contract
Use of the Leased Property. (a) Tenant To the extent not obtained as of the Completion Date, Lessee or its Affiliates shall use or cause obtain all material Licenses necessary to be used the Leased Property and the improvements thereon of operate each Facility as a freestanding emergency medical facility, as quickly as reasonably possible and, in any event, all such Licenses for a particular Facility shall be obtained by the required dates set forth on Schedule 7.2(a) relating to such Facility (each, an “Operational Date”); provided, however, that, upon written request from Lessee to Lessor prior to the Operational Date with respect to a particular Facility, and so long as Lessor is reasonably satisfied that Lessee is diligently proceeding in its Primary Intended Useefforts to obtain such Licenses for such Facility, Lessee shall have the option to extend the period in which to obtain such Licenses with respect to such Facility for two (2) additional periods of thirty (30) days each. Tenant shall not use Lessee may exercise each such option by giving written notice to Lessor at least five (5) Business Days prior to the Leased Property Operational Date (or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control or participate in the conduct of the gaming and/or racing operations at the Facilitiesextension period).
(b) Tenant After the Completion Date relating to each Facility, Lessee (i) subject to Section 7.2(a), shall operate such Facility throughout the entire remaining Term as a freestanding emergency medical facility and for such other legal ancillary uses as may be necessary in connection with or incidental to such use, subject to all covenants, restrictions, easements, and all other matters of record (including those set forth in the Permitted Exceptions) relating to the portion of the Leased Property relating to such Facility (the “Primary Intended Use”), and (ii) shall comply with all Legal Requirements that are necessary for the operation of such Facility consistent with the Primary Intended Use.
(c) Lessee shall continuously operate the Leased Property only as a provider of healthcare services in accordance with the Primary Intended Use and Lessee shall maintain its certifications for reimbursement and licensure and all accreditations.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) or nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, including any Capital Addition whether or not financed by Lessor, or Lessee’s Personal Property, to be used in such a manner as (i) might reasonably tend to impair LandlordLessor’s (or Lessee’s, as the case may be) title thereto or to any portion thereof thereof, or (ii) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(df) Except With respect to each Facility, Lessor shall have the right and option to erect a plaque in instances of casualty or condemnation, Tenant shall continuously operate each the vicinity of the Facilities for the Primary Intended Usefront desk located inside such Facility stating that such Leased Property is owned by Lessor. Tenant in its discretion Such plaque shall be permitted in a size, and shall be erected in an exact location acceptable to cease operations at a Facility Lessor and approved by Lessee, which approval shall not be unreasonably withheld, conditioned or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facilitydelayed.
Appears in 1 contract
Samples: Master Funding and Development Agreement (Adeptus Health Inc.)
Use of the Leased Property. (a) Tenant Lessee covenants that it will exercise reasonable efforts to obtain and to maintain all approvals needed to use and operate the Leased Property for its Primary Intended Purpose, as defined in Section 7.2(b) below, and applicable Legal Requirements.
(b) Lessee shall use or cause to be used the Leased Property only as a Residence Inn hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its “Primary Intended Use”). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor’s sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter’s regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee’s Personal Property.
(bc) Tenant Subject to the provisions of Articles 14, 15, 18 and 21, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Management Agreement, or any Franchise Agreement in the event that the Management Agreement with Residence Inn By Marriott, LLC is terminated, (3) not terminate or amend the Management Agreement, or any Franchise Agreement in the event that the Management Agreement with Residence Inn By Marriott, LLC is terminated, without the consent of Lessor (which shall not be unreasonably withheld or delayed), and (4) maintain appropriate certifications and Licenses for such use.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee’s Personal Property, to be used in such a manner as (i1) might reasonably tend to impair LandlordLessor’s (or Lessee’s, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Samples: Hotel Lease Agreement (Moody National REIT I, Inc.)
Use of the Leased Property. (a) Tenant Lessee covenants that it will obtain and maintain throughout the entire Term all approvals needed to use and operate the Leased Property and the Facility for the Primary Intended Use, as defined below, under applicable local, state and federal law, including but not limited to licensure approvals and Medicare and/or a Medicaid certifications, provider numbers, certificates of need, governmental approvals, and full accreditation from all applicable governmental authorities, if any, that are necessary for the operation of the Facility as a thirty-two (32)-bed general acute care hospital facility.
(b) Beginning on the Commencement Date and during the entire Term, after the completion of the construction of the Leased Improvements, Lessee shall use or cause to be used the Leased Property and the improvements thereon of each as a thirty-two (32)-bed general acute care hospital facility and for such other legal ancillary uses as may be necessary in connection with or incidental to such use, subject to all covenants, restrictions and easements (including those set forth in the Permitted Exceptions) relating to the Facility for its (the "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use use, nor change the number or type of beds within the Facility, nor reconfigure or rearrange any portion of the Leased Property or the Facility without the prior written consent of LandlordLessor, which consent Landlord Lessee agrees may withhold be withheld in its Lessor's sole discretion. Landlord acknowledges No use shall be made or permitted to be made of the Leased Property and no acts shall be done which will cause the cancellation of any insurance policy covering the Leased Property or any part thereof, nor shall Lessee sell or otherwise provide to residents or patients therein, or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or by the standard form of fire insurance policies, any other insurance policies required to be carried hereunder, or fire underwriters regulations. Lessee shall, at its sole cost, comply with all of the requirements, covenants and restrictions pertaining to the Leased Property, including, without limitation, all of the Permitted Exceptions, and other requirements of any insurance board, association, organization or company necessary for the maintenance of the insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
(c) Lessee covenants and agrees that operation during the Term it will continuously operate the Leased Property only as a provider of each Facility for its healthcare services in accordance with the Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control or participate in the conduct of the gaming and/or racing operations at the FacilitiesLessee shall maintain its certifications for reimbursement and licensure and all accreditations.
(bd) Tenant Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, including any Capital Addition whether or not financed by Lessor, or Lessee's Personal Property, to be used in such a manner as (i) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(df) Except in instances of casualty Lessee agrees that during the Term, Lessor shall have the right and option to erect a sign or condemnationsigns as approved by Lessee, Tenant which approval shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall not be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenantunreasonably withheld, the Facilities, or on the Leased Property, taken as a whole, provided Property stating that the following conditions are satisfied: Leased Property is owned by the Lessor (i) no Event of Default has occurred and and, if applicable, that Lessor or its Affiliates is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues lender for the Fiscal Year immediately preceding the time that Tenant ceased operations at construction and development of the Facility).
Appears in 1 contract
Use of the Leased Property. (a) Tenant Lessee covenants that it will exercise reasonable efforts to obtain and to maintain all approvals needed to use and operate the Leased Property for its Primary Intended Purpose, as defined in Section 7.2(b) below, and applicable Legal Requirements.
(b) Lessee shall use or cause to be used the Leased Property only as a Springhill Suites hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its “Primary Intended Use”). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor’s sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter’s regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee’s Personal Property.
(bc) Tenant Subject to the provisions of Articles 14, 15, 18 and 21, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement, (3) not terminate or amend the Franchise Agreement without the consent of Lessor (which shall not be unreasonably withheld or delayed), and (4) maintain appropriate certifications and Licenses for such use.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee’s Personal Property, to be used in such a manner as (i1) might reasonably tend to impair LandlordLessor’s (or Lessee’s, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Samples: Hotel Lease Agreement (Moody National REIT II, Inc.)
Use of the Leased Property. (a) Tenant 7.2.1 Lessee covenants that it will obtain and will at all times during the Term maintain all approvals needed to use and operate the Leased Property and the Facility under applicable federal, state and local law, including, but not limited to, licensure and Medicaid certification, as applicable. Lessee shall provide to Lessor, at Lessor's request a copy of any report or survey conducted by any federal, state or local government entity regarding the quality of care at the Facility, and any other such information or documents concerning the operation of the Facility.
7.2.2 After the Commencement Date and during the entire Term, Lessee shall use or cause to be used the Leased Property as an assisted living facility licensed by the State of Indiana and uses incidental to the improvements thereon of each Facility for its foregoing, including without limitation home health services provided in accordance with and as contemplated under Paragraph 22, below (the particular such use to which the Leased Property is put at any particular time is herein referred to as the "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be withheld in Lessor's sole and absolute discretion. No use shall be made of the Leased Property, and no acts shall be done, which will cause the cancellation of any insurance policy to residents therein, or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or by the standard form of fire insurance policies, or any other insurance policies required to be carried hereunder, or fire underwriter's regulations. Lessee shall, at its sole discretion. Landlord acknowledges cost, comply with all of the requirements pertaining to the Leased Property or other improvements of any insurance board, association, organization, or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
7.2.3 Lessee covenants and agrees that operation of each Facility for subject to damage, destruction and condemnation described in Articles XIV and XV, during the Term it will operate continuously the Leased Property in accordance with its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations Use, provided that Lessee may cease operations for more than ten (10) days (i) if Lessee obtains Lessor's prior written approval, and that without (ii) so long as such a license neither Landlord nor GLP may operate, control cessation of operations does not impair or participate in threaten the conduct status or effectiveness of the gaming and/or racing operations at operating license or other certification for operating the FacilitiesFacility in accordance with its Primary Intended Use.
(b) Tenant 7.2.4 Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(c) Tenant 7.2.5 Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, including Lessee's Personal Property, to be used in such a manner as (i) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof; or (ii) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except 7.2.6 Lessee covenants and agrees that during the Term it will maintain all licenses, approvals, permits and certifications for reimbursement, licensure and as otherwise required for operating the Facility in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the accordance with its Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Use of the Leased Property. (a) Tenant After the Commencement Date and during the entire Term, Lessee shall use or cause to be used the Leased Property and the improvements thereon of each Facility as a licensed behavioral services facility providing diversified treatment programs for its adults and at-risk and troubled youth, including residential out-patient and day treatment programs, and for such other uses as may be necessary in connection with or incidental to such use (the "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control shall not be unreasonably withheld or participate in the conduct of the gaming and/or racing operations at the Facilitiesdelayed.
(b) Tenant Lessee covenants that it will obtain and maintain all material approvals needed to use and operate the Leased Property and the Facility for the Primary Intended Use in compliance with all applicable Legal Requirements.
(c) Lessee covenants and agrees that during the Term it will use its reasonable best efforts to operate continuously the Leased Property in accordance with its Primary Intended Use and to maintain its certifications for reimbursement, if any, and licensure and its accreditation, if compliance with accreditation standards is required to maintain the operations of the Facility and if a failure to comply would adversely affect operations of the Facility.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility or cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, including any Capital Addition whether or not financed by Lessor, to be used in such a manner as (i) might is reasonably tend likely to impair Landlord’s title thereto Lessor's estate therein or to in any portion thereof thereof, or (ii) may make possible is reasonably likely to result in a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(df) Except Lessee will not utilize any Hazardous Materials on the Leased Property except in instances accordance with applicable Legal Requirements and will not permit any contamination which may require remediation under any applicable Hazardous Materials Law. Lessee agrees not to dispose of casualty any Hazardous Materials or condemnation, Tenant shall continuously operate each substances within the sewerage system of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided and that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased it will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facilityhandle all "red bag" wastes in accordance with applicable Hazardous Materials Laws.
Appears in 1 contract
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise reasonable efforts to obtain and to maintain all approvals needed to use and operate the Leased Property and the Hotel under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a Sheraton [or Sheraton Suites(R)} hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor's sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancelation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
(bc) Tenant Subject to the provisions of Articles XIV, XV, XXI and XXII, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Management Agreement, (3) not terminate or amend the Management Agreement without the consent of Lessor (which shall not be unreasonably withheld or delayed), (4) maintain appropriate certifications and licenses for such use and (5) will seek to maximize the Gross Revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Samples: Contract for Purchase and Sale of Hotels (Itt Corp /Nv/)
Use of the Leased Property. 7.2.1 Lessee covenants that it will obtain and maintain (aor, in the case of any Facility in respect of which a Master Sublease or management agreement permitted without Lessor’s consent under Sections 24.1.1 and 24.1.12 is in effect between Lessee and any of its Affiliates, cause such Affiliate to obtain and maintain) Tenant all Required Governmental Approvals with respect to each Facility (including for any Capital Additions to such Facility).
7.2.2 Lessee shall use or cause to be used the Leased Property Property, all Capital Additions and the improvements thereon of each Facility only for its the Primary Intended Use of such Facility and for no other uses, except for areas reasonably required for office, storage space or ancillary service uses incidental to the Primary Intended Use. Tenant No change to the Primary Intended Use of any Facility shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use be permitted hereunder without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted or withheld in its sole Lessor’s reasonable discretion. Landlord acknowledges that operation .
7.2.3 Subject to any reasonable interruptions in operations as a result of
(i) casualty or condemnation and the restoration thereof in accordance with the applicable provisions of Article XIV and/or Article XV hereof, or (ii) the remediation of any environmental condition in accordance with the applicable provisions of Section 37.3 hereof, Lessee shall operate continuously the entire Leased Property and all Capital Additions of each Facility for its in accordance with the Primary Intended Use generally requires of such Facility. Lessee shall devote the entirety of each Facility and all Capital Additions thereto to the Primary Intended Use, except for areas reasonably required for office, storage space or ancillary service uses incidental to the Primary Intended Use. Lessee shall not modify the services offered or, except as permitted in Section 7.4 hereof, take any other action (e.g., removing patients or residents from any Facility or directing patients or residents, or prospective patients or residents, to another facility) which would materially reduce Gross Revenues or the Fair Market Value of any Facility.
7.2.4 Lessee shall conduct its business at each Facility in conformity with standards that meet or exceed the standards of such Facility’s operations as of the Commencement Date and in a Gaming License under applicable Gaming Regulations manner consistent with normal and that without such a license neither Landlord nor GLP customary standards of patient or resident care practice (as the same may operate, control or participate change from time to time during the Term) provided in similar facilities in the conduct of the gaming and/or racing operations at the FacilitiesState.
(b) Tenant 7.2.5 Lessee shall not commit or suffer to be committed any physical waste on the Leased Property (including and/or on or to any Capital Improvement thereto) or cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the TermAdditions.
(c) Tenant 7.2.6 Lessee shall neither suffer nor not permit the Leased Property Property, any Capital Additions, or any portion thereof part(s) thereof, or Lessee’s Personal Property, to be used in such a manner as (i) might is reasonably tend likely to impair LandlordLessor’s title thereto or to any portion thereof or (ii) may make possible reasonably likely a claim of adverse use or possession, or an implied dedication of the Leased Property Property, any Capital Additions or any portion part(s) thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Samples: Master Transactions and Cooperation Agreement (Brookdale Senior Living Inc.)
Use of the Leased Property. (a) Tenant Operating Lessee covenants that it will obtain and maintain all approvals needed to use and operate the Leased Property and the Facilities under applicable Legal Requirements.
(b) Operating Lessee shall use or cause to be used the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Operating Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordOperating Lessor, which consent Landlord may withhold be granted, denied or conditioned in its sole Operating Lessor's reasonable discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Operating Lessor is available and Operating Lessee pays any premium increase), nor shall Operating Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Operating Lessee shall, at Operating Lessee's sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Operating Lessee's Personal Property.
(bc) Tenant Subject to the provisions of Articles 12, 13, 19 and 20, Operating Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property for the Primary Intended Use, (2) keep in full force and effect and comply with all the provisions of any Franchise Agreement (except that Operating Lessee shall have no obligation to complete any capital improvements to the Leased Property required by the franchisor unless the Operating Lessor funds the cost thereof), (3) not terminate or amend any Franchise Agreement without the consent of Operating Lessor, (4) maintain appropriate certifications and licenses for such use, and (5) seek to maximize the Gross Revenues generated therefrom consistent with sound business practices, and (6) seek to keep the costs and expenses of the Leased Property payable by Operating Lessor at reasonable levels.
(d) Operating Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Operating Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Operating Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Operating Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Operating Lessor's (or Operating Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Use of the Leased Property. (a) Tenant Lessee covenants that it will (with Lessor's commercially reasonable cooperation to the extent necessary and required) proceed with all due diligence and will exercise its commercially reasonable efforts to obtain and to maintain all approvals needed to use and operate the Leased Property under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the each Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the any Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in Lessor's reasonable discretion. No use shall be made or permitted to be made of any Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at its sole discretioncost, comply with all of the requirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property, except that Lessee shall have no obligation to complete capital improvements to the Leased Property.
(c) Subject to the provisions of Articles XIV, XV, XXI and XXII and other express provisions in this Master Lease, with respect to each Leased Property, Lessee covenants and agrees that during the Term it will (1) operate continuously each Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement (except that Lessee shall have no obligation to take any actions that are the responsibility of Lessor hereunder or to complete any capital improvements to the Leased Property required by the franchisor unless Lessor funds the cost thereof), (3) not terminate or amend the Franchise Agreement without the consent of Lessor (not to be unreasonably withheld, conditioned or delayed), (4) maintain appropriate certifications and licenses for such use and (5) seek to maximize the Gross Revenues generated therefrom consistent with sound business practices and Lessee's concurrent goal of maximizing its net operating income therefrom. Landlord acknowledges Lessor covenants and agrees that, with respect to each Leased Property, during the Term it will (1) not take or allow any Affiliate to take or fail to take any action that would interfere with, restrict or prohibit Lessee's operation of each Facility the Leased Property for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations Use, including, without limitation, modifying, amending or terminating any Franchise Agreement or any licenses, franchises, permits, easements, leases, undertakings or agreements held by Lessor or such Affiliate and that without pertaining to the Leased Property, (2) comply with all the provisions of any Franchise Agreement relating to Capital Expenditures (to the extent such a license neither Landlord nor GLP may operate, control or participate Capital Expenditures are provided for in the conduct Capital Budget), the payment of Real Estate Taxes, Personal Property Taxes, Capital Impositions and other requirements thereof that are not the gaming and/or racing operations at responsibility of Lessee hereunder and (3) seek to maximize the Facilitiesnet income generated by Lessee from the Leased Property consistent with Lessor's concurrent goal of maximizing the Gross Revenues generated therefrom.
(bd) Tenant Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) or Property, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof or (ii) may make possible a claim of adverse use or possessionthereof, or an implied dedication of the Leased Property or any portion thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.or
Appears in 1 contract
Use of the Leased Property. (a) Tenant Lessee covenants that it will obtain and maintain all approvals needed to use and operate the Leased Property and the Facilities under applicable Legal Requirements.
(b) Lessee shall use or cause to be used the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use (the improvements thereon of each Facility for its Primary Intended Use"PRIMARY INTENDED USE"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its sole Lessor's reasonable discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at Lessee's sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
(bc) Tenant Subject to the provisions of Articles 14, 15, 21 and 22, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property for the Primary Intended Use, (2) keep in full force and effect and comply with all the provisions of any Franchise Agreement (except that Lessee shall have no obligation to complete any capital improvements to the Leased Property required by the franchisor unless the Lessor funds the cost thereof), (3) not terminate or amend any Franchise Agreement without the consent of Lessor, (4) maintain appropriate certifications and licenses for such use, and (5) seek to maximize the Gross Revenues generated therefrom consistent with sound business practices, and (6) seek to keep the costs and expenses of the Leased Property payable by Lessor at reasonable levels.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Use of the Leased Property. (a) Tenant 7.2.1 Lessee covenants that it will obtain and will at all times during the Term maintain all approvals needed to use and operate the Leased Property and the Facility under applicable federal, state and local law, including, but not limited to, licensure and Medicaid certification, if and as applicable. Lessee shall provide to Lessor, at Lessor's request a copy of any report or survey conducted by any federal, state or local government entity regarding the quality of care at the Facility, and any other such information or documents concerning the operation of the Facility.
7.2.2 After the Commencement Date and during the entire Term, Lessee shall use or cause to be used the Leased Property as an assisted living facility licensed (if applicable) by the Commonwealth of Pennsylvania and uses incidental to the improvements thereon of each Facility for its foregoing, including without limitation home health services provided in accordance with and as contemplated under Paragraph 22, below (the particular such use to which the Leased Property is put at any particular time is herein referred to as the "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be withheld in Lessor's sole and absolute discretion. No use shall be made of the Leased Property, and no acts shall be done, which will cause the cancellation of any insurance policy to residents therein, or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or by the standard form of fire insurance policies, or any other insurance policies required to be carried hereunder, or fire underwriter's regulations. Lessee shall, at its sole discretion. Landlord acknowledges cost, comply with all of the requirements pertaining to the Leased Property or other improvements of any insurance board, association, organization, or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
7.2.3 Lessee covenants and agrees that operation subject to damage, destruction and condemnation described in Articles XIV and XV, during the Term it will operate continuously the entirety of each Facility for the Leased Property in accordance with its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations Use, provided that Lessee may cease operations for more than ten (10) days (i) if Lessee obtains Lessor's prior written approval, and that without (ii) so long as such a license neither Landlord nor GLP may operate, control cessation of operations does not impair or participate in threaten the conduct status or effectiveness of the gaming and/or racing operations at operating license or other certification for operating the FacilitiesFacility in accordance with its Primary Intended Use.
(b) Tenant 7.2.4 Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(c) Tenant 7.2.5 Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, including Lessee's Personal Property, to be used in such a manner as (i) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof; or (ii) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except 7.2.6 Lessee covenants and agrees that during the Term it will maintain all licenses, approvals, permits and certifications for reimbursement, licensure and as otherwise required for operating the Facility in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the accordance with its Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Samples: Lease Agreement (LTC Healthcare Inc)
Use of the Leased Property. Each Property shall be used and operated as a healthcare facility or in such manner as is consistent with its current use and for such other legal ancillary uses as may be necessary in connection with or incidental to such uses and, in each case, subject to all covenants, restrictions, easements and all other matters of record (including those set forth in the Permitted Exceptions) relating to the applicable Property (individually with respect to each Property, and collectively as to all Properties, the “Primary Intended Use”). Lessee shall be in material compliance with all Legal Requirements and Healthcare Laws and shall maintain all material Licenses and Participation Agreements, including, but not limited to, Medicare and/or Medicaid certifications, provider numbers and agreements, certificates of need, governmental approvals, and full accreditation from all applicable governmental authorities, if any, that are necessary for the operation of the Business with respect to the applicable Property consistent with the Primary Intended Use; provided, however, that the foregoing shall not restrict a Facility Lessee from terminating, amending, restating, extending, supplementing, or modifying any Participation Agreement in the ordinary course or as may be required by applicable law (other than any termination of any Participation Agreement relating to rights to payment or reimbursement from Medicare, which termination is hereby expressly prohibited).
(a) Tenant shall use or cause to be used the Leased Property and the improvements thereon of each Facility for its Primary Intended Use. Tenant Except as expressly authorized herein, Lessee shall not use the Leased any Property or any portion thereof or any Capital Improvement thereto for any use other than as provided herein, to the extent such change in use or decrease has a material adverse effect on the Primary Intended Use or the ability of the Lessee to meet its obligations under this Lease, without the prior written consent of LandlordLessor, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operatenot to be unreasonably withheld, control conditioned or participate in the conduct of the gaming and/or racing operations at the Facilitiesdelayed.
(b) Tenant No use shall be made or permitted to be made of the Leased Property and no acts shall be done which will cause the cancellation of any insurance policy covering the Leased Property or any part thereof, nor shall Lessee sell or otherwise provide to residents or patients therein, or permit to be kept, used or sold in or about the Leased Property any article which is 4834-1440-2281v12 prohibited by law or by the standard form of fire insurance policies, any other insurance policies required to be carried hereunder, or fire underwriters regulations. Lessee shall, at its sole cost, comply, in all material respects, with all of the requirements, covenants and restrictions pertaining to the Leased Property, including, without limitation, all of the Permitted Exceptions, and other requirements of any insurance board, association, organization or company necessary for the maintenance of the insurance, as herein provided, covering the Leased Property and Lessee’s Personal Property.
(c) Lessee shall operate the Leased Property only in accordance with the Primary Intended Use and as a provider of goods and services incidental thereto.
(d) Lessee shall not commit or suffer to be committed any material waste on the Leased Property (including Property, or in any Capital Improvement thereto) or of the Facilities, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property Property, or any portion thereof thereof, including any Capital Addition whether or not funded by Lessor, or Lessee’s Personal Property, to be used in such a manner as (i) might could reasonably tend to impair LandlordLessor’s (or Lessee’s, as the case may be) title thereto or to any portion thereof thereof, or (ii) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property Property, or any portion thereof.
(df) Except in instances of casualty or condemnationWith respect to each Property, Tenant shall continuously operate each of Lessor shall, subject to applicable laws (including but not limited to the Facilities for Healthcare Laws), have the Primary Intended Useright and option to erect a sign on such Property stating that such Property is owned by Lessor. Tenant in its discretion Such sign shall be permitted in a size, and shall be erected in a location acceptable to cease operations at a Facility Lessor and approved by Lessee, which approval shall not be unreasonably withheld, conditioned or Facilities if delayed. Lessor shall be responsible for all costs related to such cessation would not reasonably be expected signage and complying with all Legal Requirements with respect to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facilitysignage.
Appears in 1 contract
Samples: Master Lease Agreement (MPT Operating Partnership, L.P.)
Use of the Leased Property. (a) Tenant covenants that it will proceed with all due diligence and will exercise its best efforts to obtain and to maintain all approvals needed to use and operate the Leased Property and the Facility under all Legal Requirements and Land Use Requirements.
(b) Tenant shall use or cause to be used the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Landlord (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of Landlord, which consent Landlord may withhold be granted, denied or conditioned in its Landlord's sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Landlord is available and Tenant pays any premium increase), nor shall Tenant sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Tenant shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Tenant's Personal Property.
(bc) Subject to the provisions of Articles XIV, XV, XXI and XXII, Tenant covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement (other than requirements with respect to Capital Improvements), (3) not terminate or amend the Franchise Agreement without the consent of Landlord, (4) maintain appropriate certifications, permits and licenses for such use and (5) will seek to maximize the gross revenues generated therefrom consistent with sound business practices.
(d) Tenant shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Tenant cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Tenant's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s 's (or Tenant's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property.
(f) Unless otherwise agreed by Landlord, taken and except with respect to its interests in for those properties that exist as of the Date hereof, throughout the Term neither Tenant nor any Affiliate of Tenant shall own, build, develop, lease, operate, manage, franchise or have any interest in any hotel or motel property that is within a whole, provided that the following conditions are satisfied: three (i3) no Event mile radius of Default any hotel or motel property in which Landlord or an Affiliate of Landlord has occurred and is continuing immediately prior to or immediately after an interest on the date that operations are ceased Tenant or as a result its Affiliate would otherwise commence owning, operating or managing such property, other than pursuant to this Lease or another lease, agreement or arrangement with Landlord or an Affiliate of such cessation; and (ii) the Percentage Rent due Landlord. Tenant agrees to notify Landlord, from each and every such Facility whose operations have ceased will thereafter be subject time to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facilityrequest of Landlord, of the location of any hotel or motel property the Tenant or any Affiliate owns, leases, operates, manages or has an interest in. Landlord agrees to notify Tenant, from time to time at the request of Tenant, of the location of any hotel or motel property in which Landlord or an Affiliate of Landlord has an interest.
Appears in 1 contract
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise reasonable efforts to obtain and to maintain all Licenses and other approvals needed to use and operate the Leased Property and the Hotel under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a Fairfield Inn & Suites hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its “Primary Intended Use”). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor’s sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter’s regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee’s Personal Property.
(bc) Tenant Subject to the provisions of Articles 14, 15, 18 and 21, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement and the Management Agreement, (3) not terminate or amend the Franchise Agreement or the Management Agreement without the consent of Lessor (which shall not be unreasonably withheld or delayed), (4) maintain appropriate certifications and Licenses for such use and (5) seek to maximize the Gross Revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee’s Personal Property, to be used in such a manner as (i1) might reasonably tend to impair LandlordLessor’s (or Lessee’s, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise reasonable efforts to obtain and to maintain all Licenses and other approvals needed to use and operate the Leased Property and the Hotel under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a Homewood Suites by Hilton hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor's sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
(bc) Tenant Subject to the provisions of Articles 14, 15, 18 and 21, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement and the Management Agreement, (3) not terminate or amend the Franchise Agreement or the Management Agreement without the consent of Lessor (which shall not be unreasonably withheld or delayed), (4) maintain appropriate certifications and Licenses for such use and (5) seek to maximize the Gross Revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Samples: Master Hotel Lease Agreement (Apple Hospitality Five Inc)
Use of the Leased Property. (a) Tenant Lessee covenants that it will obtain and to maintain all approvals needed to use and operate the Leased Property and the Facility under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor's sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or substantially increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
(bc) Tenant Subject to the provisions of Articles XIV and XV, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and materiallycomply with all the provisions of the Franchise Agreement (except that Lessee shall have no obligation to complete any improvements to the Leased Property required by the franchisor unless the Lessor funds the cost thereof), (3) not terminate or amend the Franchise Agreement without the consent of Lessor, (4) maintain appropriate certifications and licenses for such use and (5) will seek to maximize the Gross Revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Samples: Master Lease Agreement (Humphrey Hospitality Trust Inc)
Use of the Leased Property. (a) Tenant Lessee covenants that it will (with Lessor’s commercially reasonable cooperation to the extent necessary and required) proceed with all due diligence and will exercise its commercially reasonable efforts to obtain and to maintain (or cause the Manager to obtain and maintain where required by law with respect to liquor and drink licenses) all approvals needed to use and operate the Leased Property under applicable local, state and federal law.
(b) Lessee shall use use, or cause to be used used, the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its “Primary Intended Use”). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in Lessor’s reasonable discretion. No use shall be made or permitted to be made of the Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter’s regulations. Lessee shall, at its sole discretioncost, comply with all of the requirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee’s Personal Property, except that Lessee shall have no obligation to complete capital improvements to the Leased Property.
(c) Subject to the provisions of Articles XIV, XV, XXI and XXII and other express provisions in this Lease, with respect to the Leased Property, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement (except that Lessee shall have no obligation to take any actions that are the responsibility of Lessor hereunder or to complete any capital improvements to the Leased Property required by the franchisor unless Lessor funds the cost thereof), (3) not terminate or amend the Franchise Agreement without the consent of Lessor (not to be unreasonably withheld, conditioned or delayed), (4) maintain appropriate certifications and licenses for such use and (5) seek to maximize the Gross Revenues generated therefrom consistent with sound business practices and Lessee’s concurrent goal of maximizing its net operating income therefrom. Landlord acknowledges Lessor covenants and agrees that, with respect to the Leased Property, during the Term it will (1) not take or allow any Affiliate to take or fail to take any action that would interfere with, restrict or prohibit Lessee’s operation of each Facility the Leased Property for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations Use, including, without limitation, modifying, amending or terminating any Franchise Agreement or any licenses, franchises, permits, easements, leases, undertakings or agreements held by Lessor or such Affiliate and that without pertaining to the Leased Property, (2) comply with all the provisions of any Franchise Agreement relating to Capital Expenditures (to the extent such a license neither Landlord nor GLP may operate, control or participate Capital Expenditures are provided for in the conduct Capital Budget), the payment of Capital Impositions and other requirements thereof that are not the gaming and/or racing operations at responsibility of Lessee hereunder and (3) seek to maximize the Facilitiesnet income generated by Lessee from the Leased Property consistent with Lessor’s concurrent goal of maximizing the Gross Revenues generated therefrom.
(bd) Tenant Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) or Property, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee’s Personal Property, to be used in such a manner as (i1) might reasonably tend to impair LandlordLessor’s (or Lessee’s, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the FacilityHotel.
Appears in 1 contract
Samples: Lease Agreement (Eagle Hospitality Properties Trust, Inc.)
Use of the Leased Property. (a) Tenant shall use or cause to be used the Leased Property and the improvements thereon of each Facility for its Primary Intended Use. Tenant shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control or participate in the conduct of the gaming and/or racing operations at the Facilities.
(b) Tenant shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) or cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Term.
(c) Tenant shall neither suffer nor permit the Leased Property or any portion thereof to be used in such a manner as (i) might reasonably tend to impair Landlord’s title thereto or to any portion thereof or (ii) may make possible a claim of adverse use or possession, or an implied dedication of the Leased Property or any portion thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities Facility for the Primary Intended UseUse (except as a result of casualty, condemnation or Unavoidable Delay that affects such Facility). Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise reasonable efforts to obtain and to maintain all approvals needed to use and operate the Leased Property and the Hotel under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a Sheraton [or Sheraton Suites(R)} hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its Primary Intended Use"PRIMARY INTENDED USE"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor's sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancelation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
(bc) Tenant Subject to the provisions of Articles XIV, XV, XXI and XXII, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Management Agreement, (3) not terminate or amend the Management Agreement without the consent of Lessor (which shall not be unreasonably withheld or delayed), (4) maintain appropriate certifications and licenses for such use and (5) will seek to maximize the Gross Revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Samples: Contract for Purchase and Sale of Hotels (Felcor Suite Hotels Inc)
Use of the Leased Property. (a) Tenant After the Commencement date and during the entire Term, Lessee shall use or cause to be used the Facility and the Leased Property as an 89- unit assisted living facility and for such other uses as may be necessary in connection with or incidental to such use (the improvements thereon of each Facility for its Primary "primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for fox any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control shall not be unreasonably withheld or participate in the conduct of the gaming and/or racing operations at the Facilitiesdelayed.
(b) Tenant Lessee covenants that it will obtain and maintain all material approvals needed to use and operate the Leased Property and the Facility for the )Primary Intended Use in compliance with all applicable Legal Requirements.
(c) Lessee covenants and agrees that during the Term it will use its reasonable best efforts to operate continuously the Leased Property in accordance with its Primary Intended Use and to maintain its certifications for reimbursement, if any, and licensure and its accreditation, if compliance with accreditation standards is required to maintain the operations of the Facility and if a failure to comply would adversely affect operations of the Facility.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility or cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, including any Capital Addition whether or not financed by Lessor, to be used in such a manner as (i) might is reasonably tend likely to impair Landlord’s title thereto Lessor's estate therein or to in any portion thereof thereof, or (ii) may make possible is reasonably likely to result in a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would Lessee will not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or utilize any Hazardous Materials on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred Property except in accordance with applicable Legal Requirements and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor not permit any contamination which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.may
Appears in 1 contract
Samples: Lease Agreement (Emeritus Corp\wa\)
Use of the Leased Property. (a) Section 7.2.1 Tenant shall use maintain or cause to be used maintained all licenses, permits, approvals and other Authorizations needed to use and operate for its Section 7.
2.1 Primary Intended Use (or any other use permitted under the terms of this Lease) each Leased Property and the improvements thereon Facility located at each such Leased Property under and in accordance with all applicable local, state and federal laws and all applicable state and federal programs including but not limited to appropriate certifications for reimbursement and licensure. All of such Authorizations shall, to the maximum extent permitted by law, relate and apply exclusively to one or more of the Leased Properties and/or the Facilities operated thereon. Tenant acknowledges and agrees that, subject to applicable law, the certificates of need issued for the Facilities are appurtenant to such Facilities, both during and following the termination or expiration of the Term. In jurisdictions where the certificate of need is issued to Tenant or its subtenant, as the Facility operator, Tenant agrees that it shall cooperate with Lessor, in accordance with Section 40.3 hereof, to turn over all of Tenant's ------------ rights in connection with such certificate of need to Lessor or its designee.
Section 7.2.2 After the Commencement Date and during the entire Term, Tenant shall use each Leased Property and the Leased Improvements thereof as a hospital or a nursing center and each Facility for its that is being used as a hospital on the Commencement Date shall continue to be used as a hospital during the entire Term and each Facility being used as a nursing center on the Commencement Date shall continue to be used as a nursing center during the entire Term (such use being the applicable Leased Property's "Primary Intended Use"). Tenant shall -------------------- not use the applicable Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord shall not be unreasonably withheld, delayed or conditioned. No use shall be made or permitted to be made of the applicable Leased Property, and no acts shall be done, that will cause the cancellation of any insurance policy covering such Leased Property or any part thereof, nor shall Tenant sell or otherwise provide to occupants or patients therein, or permit to be kept, used or sold in or about such Leased Property any article which may withhold in be prohibited by law or by the standard form of fire insurance policies, or any other insurance policies required to be carried hereunder, or fire underwriters regulations. Tenant shall, at its sole discretion. Landlord acknowledges that operation cost, comply with all of the requirements pertaining to the applicable Leased Property or other improvements of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering such Leased Property and Tenant's Personal Property.
Section 7.2.3 Tenant shall during the Term operate continuously each Facility for Leased Property in accordance with all applicable federal, state and local laws as a provider of health care services in accordance with its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operatemaintain its certifications for reimbursement and licensure and its accreditation, control or participate in if compliance with accreditation standards is required to maintain the conduct operations of the gaming and/or racing Facility and if a failure to comply would adversely affect operations at of the FacilitiesFacility.
(b) Section 7.2.4 Tenant shall not commit or suffer to be committed any waste on the any Leased Property (including Property, or in any Capital Improvement thereto) or Facility, nor shall Tenant cause or permit any nuisance thereon or to, except as required by law, thereon. Tenant shall not take or suffer omit to take any action action, the taking or condition that will diminish omission of which may materially impair the ability value or the usefulness of the such Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termany part thereof for its Primary Intended Use.
(c) Section 7.2.5 Tenant shall neither suffer nor permit the any Leased Property or any portion thereof thereof, including any Capital Alteration whether or not financed by Lessor, or Tenant's Personal Property, to be used in such a manner as (i) might reasonably tend to impair Landlord’s Lessor's (or Tenant's, as the case may be) title thereto or to any portion thereof thereof, or (ii) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the applicable Leased Property or any portion thereof.
Section 7.2.6 Nothing contained in this Section 7.2 shall be deemed to ----------- prevent Tenant from (di) Except voluntarily withdrawing from the Medicaid program, and voluntarily de-activating its certification for participation therein, as the same apply to a Facility(ies), or (ii) voluntarily reducing the number of beds at a Facility(ies) as to which a certification for reimbursement under the Medicaid program is applicable (but without affecting Tenant's certification for participation in instances the Medicaid program as to any such Facility(ies) and without reducing the number of casualty beds at any Facility(ies) as to which a certification for participation in the Medicaid program is applicable below any legally required minimum number of beds), or condemnation(iii) voluntarily reducing the number of beds at a Facility(ies) as to which a certification for reimbursement under the Medicare program is applicable (but without affecting Tenant's certification for participation in the Medicare program as to any such Facility(ies) and without reducing the number of beds at any Facility(ies) as to which a certification for participation in the Medicare program is applicable below any legally required minimum number of beds), in each case if and so long as, in accordance with any and all laws, statutes, rules, regulations and orders applicable to the Medicaid and Medicare programs and certifications for participation therein and to any such Facility(ies), Tenant or any successor operator of such Facility(ies) may at any time at its election, without the necessity of any governmental approval or additional Authorization (other than routine governmental re-inspections of such Facility(ies) and any ministerial approvals and other Authorizations), as applicable depending upon whether subsection (i), (ii) and/or (iii) above is applicable, (a) promptly rejoin the Medicaid program, and re-activate its certification for participation in the Medicaid program, at any such Facility(ies) and/or (b) promptly re-activate its certification for participation in the Medicaid program and/or Medicare program, as applicable, as to any beds as to which a voluntary reduction under subsection (ii) and/or (iii) above is applicable. At the time, and as a condition, of any such voluntary withdrawal and de-activation, or voluntary reduction, by Tenant and thereafter within twenty (20) days after receipt of a written request therefor from Lessor from time to time (but not more often than twice in any calendar year, unless, after Lessor has made two (2) such requests in a calendar year, a change(s) in Legal Requirements becomes effective, or Lessor obtains knowledge of other facts or circumstances, suggesting a possible violation of this Section 7.2.6), Tenant shall continuously operate each of deliver to Lessor a Senior Officer's -------------- Certificate, in form and substance reasonably satisfactory to Lessor, certifying that Tenant has made diligent inquiry relative to the Facilities for the Primary Intended Use. Tenant in applicable Legal Requirements and has consulted with its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenantlegal counsel and, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time foregoing, certifies that Tenant ceased operations at has complied, and continues to comply, with the Facilityprovisions of this Section 7.2.6 in connection with such voluntary withdrawal ------------- and de-activation and/or voluntary reduction.
Appears in 1 contract
Use of the Leased Property. (a) Tenant 7.2.1 Lessee covenants that it will obtain and will at all times during the Term maintain all approvals needed to use and operate the Leased Property and the Facility under applicable federal, state and local law, including, but not limited to, licensure and Medicaid certification, if and as applicable. Lessee shall provide to Lessor, at Lessor's request a copy of any report or survey conducted by any federal, state or local government entity regarding the quality of care at the Facility, and any other such information or documents concerning the operation of the Facility.
7.2.2 After the Commencement Date and during the entire Term, Lessee shall use or cause to be used the Leased Property as an assisted living facility licensed (if applicable) by the State of Ohio and uses incidental to the improvements thereon of each Facility for its foregoing, including without limitation home health services provided in accordance with and as contemplated under Paragraph 22, below (the particular such use to which the Leased Property is put at any particular time is herein referred to as the "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be withheld in Lessor's sole and absolute discretion. No use shall be made of the Leased Property, and no acts shall be done, which will cause the cancellation of any insurance policy to residents therein, or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or by the standard form of fire insurance policies, or any other insurance policies required to be carried hereunder, or fire underwriter's regulations. Lessee shall, at its sole discretion. Landlord acknowledges cost, comply with all of the requirements pertaining to the Leased Property or other improvements of any insurance board, association, organization, or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
7.2.3 Lessee covenants and agrees that operation subject to damage, destruction and condemnation described in Articles XIV and XV, during the Term it will operate continuously the entirety of each Facility for the Leased Property in accordance with its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations Use, provided that Lessee may cease operations for more than ten (10) days (i) if Lessee obtains Lessor's prior written approval, and that without (ii) so long as such a license neither Landlord nor GLP may operate, control cessation of operations does not impair or participate in threaten the conduct status or effectiveness of the gaming and/or racing operations at operating license or other certification for operating the FacilitiesFacility in accordance with its Primary Intended Use.
(b) Tenant 7.2.4 Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(c) Tenant 7.2.5 Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, including Lessee's Personal Property, to be used in such a manner as (i) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof; or (ii) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except 7.2.6 Lessee covenants and agrees that during the Term it will maintain all licenses, approvals, permits and certifications for reimbursement, licensure and as otherwise required for operating the Facility in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the accordance with its Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Samples: Lease (LTC Healthcare Inc)
Use of the Leased Property. (a) Section 7.2.1 Tenant shall use maintain or cause to be used maintained all licenses, permits, approvals and other Authorizations needed to use and operate for its Primary Intended Use (or any other use permitted under the terms of this Lease) the Leased Property and the improvements thereon Facility located at the Leased Property under and in accordance with all applicable local, state and federal laws and all applicable state and federal programs including but not limited to appropriate certifications for reimbursement and licensure. All of each such Authorizations shall, to the maximum extent permitted by law, relate and apply exclusively to the Leased Property and/or the Facility operated thereon. Tenant acknowledges and agrees that, subject to applicable law, the certificates of need issued for the Facility is appurtenant to the Facility, both during and following the termination or expiration of the Term. In jurisdictions where the certificate of need is issued to Tenant or its subtenant, as the Facility operator, Tenant agrees that it shall cooperate with Lessor, in accordance with Section 40.3 hereof, to turn over all of Tenant's rights in connection with such certificate of need to Lessor or its designee.
Section 7.2.2 After the Commencement Date and during the entire Term, Tenant shall continuously use the Leased Property and the Leased Improvements thereof as a skilled nursing center (such use being the Leased Property's "Primary Intended Use"). Tenant shall not use the applicable Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord shall not be unreasonably withheld, delayed or conditioned. No use shall be made or permitted to be made of the Leased Property, and no acts shall be done, that will cause the cancellation of any insurance policy covering the Leased Property or any part thereof, nor shall Tenant sell or otherwise provide to occupants or patients therein, or permit to be kept, used or sold in or about the Leased Property any article which may withhold in be prohibited by law or by the standard form of fire insurance policies, or any other insurance policies required to be carried hereunder, or fire underwriters regulations. Tenant shall, at its sole discretion. Landlord acknowledges that operation cost, comply with all of each Facility the requirements pertaining to the Leased Property or other improvements of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Tenant's Personal Property.
Section 7.2.3 Tenant shall during the Term operate continuously the Leased Property in accordance with all applicable federal, state and local laws as a provider of health care services in accordance with its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operatemaintain its certifications for reimbursement and licensure and its accreditation, control or participate in if compliance with accreditation standards is required to maintain the conduct operations of the gaming and/or racing Facility and if a failure to comply would adversely affect operations at of the FacilitiesFacility.
(b) Section 7.2.4 Tenant shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Tenant cause or permit any nuisance thereon or to, except as required by law, thereon. Tenant shall not take or suffer omit to take any action action, the taking or condition that will diminish omission of which may materially impair the ability value or the usefulness of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termany part thereof for its Primary Intended Use.
(c) Section 7.2.5 Tenant shall neither suffer nor permit the Leased Property or the portion thereof, including any portion thereof Capital Alteration whether or not financed by Lessor, or Tenant's Personal Property, to be used in such a manner as (i) might reasonably tend to impair Landlord’s Lessor's (or Tenant's, as the case may be) title thereto or to any portion thereof thereof, or (ii) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Samples: Operations Transfer Agreement (Kindred Healthcare Inc)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise its best efforts to obtain and to maintain all approvals needed to use and operate the Leased Property and the Facility under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a hotel facility (including food and beverage operations) of a caliber consistent with its present use, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor's sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
(bc) Tenant Subject to the provisions of Articles XIV and XV Lessee covenants and agrees that during the Term it will (1) maintain, operate continuously the Leased Property as a hotel facility of the class currently operated at the Leased Property, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement, (3) not terminate or amend the Franchise Agreement without the consent of Lessor, (4) maintain appropriate certifications and licenses for such use and otherwise comply with all Legal Requirements and (5) seek to maximize the gross revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof, subject to Lessor's prior consent.
(df) Except in instances of casualty Lessee shall not use, generate, handle, dispose or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or store Hazardous Materials on the Leased Property, taken except in the normal course of operations of the Leased Property as a wholehotel and in compliance with all Environmental Laws.
(g) Lessee shall not enter into any collective bargaining agreements with respect to any of the employees at the Leased Property without the prior consent of Lessor, provided that which shall not be unreasonably withheld or delayed, unless required by law.
(h) Lessee hereby assumes and agrees to perform all of the following conditions are satisfied: (i) no Event obligations of Default has occurred and is continuing immediately prior to or immediately after Lessor under all leases in effect at the Leased Property as of the date that operations are ceased or as a result of such cessation; and (ii) commencement of the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the FacilityTerm.
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Use of the Leased Property. (a) Tenant shall use or cause to be used the Leased Property and the improvements thereon of each Facility for its Primary Intended Use. Tenant shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control or participate in the conduct of the gaming and/or racing operations at the Facilities.. 33 ACTIVE/103726432.5 US-DOCS\116344257.8
(b) Tenant shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) or cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Term.
(c) Tenant shall neither suffer nor permit the Leased Property or any portion thereof to be used in such a manner as (i) might reasonably tend to impair Landlord’s title thereto or to any portion thereof or (ii) may make possible a claim of adverse use or possession, or an implied dedication of the Leased Property or any portion thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities Facility for the Primary Intended UseUse (except as a result of casualty, condemnation or Unavoidable Delay that affects such Facility). Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
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Use of the Leased Property. (a1) Tenant Lessee covenants that it will proceed with all due diligence and will exercise its best efforts to obtain and to maintain all approvals needed to use and operate the Leased Property and each Facility under applicable local, state and federal law. Lessee represents to Lessor that Lessee presently has such certificates, licenses, permits and other authorizations reasonably required to conduct the Primary Intended Uses thereof.
(2) Lessee shall use or cause to be used the Leased Property only as hotel facilities, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use use, or include in the Primary Intended Use such ancillary uses such as sales of food or beverages, without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor's sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about any Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to any Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering such Leased Property and Lessee's Personal Property.
(b3) Tenant Subject to the provisions of Articles XIV and XV, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as hotel facilities, (2) maintain appropriate certifications and licenses for such use and (3) use its best efforts to maximize the gross revenues generated therefrom consistent with sound business practices. Lessor further covenants and agrees that it will operate the Leased Property in such a manner as will maintain at least the standards of quality that have been heretofore established in the ownership and operations of the Leased Property by Affiliates of the Lessor prior to the date of this Lease. Lessee will engage in (and commit resources for) such promotional and advertising activities with respect to the Leased Property as shall be reasonably required or advisable, under all of the facts and circumstances, to effectively and efficiently promote the business and operations of the Leased Properties.
(4) Lessee shall not commit or suffer to be committed any waste on the any Leased Property (including Property, or in any Capital Improvement thereto) or Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(c5) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof, except as necessary in the ordinary and prudent operation of the Facility on such Leased Property.
(d6) Except Lessee or any Affiliate of Lessee shall not own, or have any interest in, any hotel or motel property in instances which Lessor or an Affiliate of casualty Lessor does not have an interest. Neither Lessee nor an Affiliate of Lessee shall operate or condemnationmanage any hotel or motel that is within a 20-mile radius of any hotel or motel property in which Lessor or an Affiliate of Lessor has an interest on the date Lessee or its Affiliate would otherwise commence operating or managing such property, Tenant shall continuously operate each other than pursuant to this Lease or another lease, agreement or arrangement with Lessor or an Affiliate of Lessor. Lessor agrees to notify Lessee promptly of the Facilities for the Primary Intended Use. Tenant location of any hotel or motel property in its discretion shall be permitted to cease operations at a Facility which Lessor or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event an Affiliate of Default Lessor has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facilityan interest.
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Use of the Leased Property. (a) Tenant After the Commencement Date and during the entire Term, Lessee shall use or cause to be used the Facility and the Leased Property as a 100- unit assisted living facility and for such other uses as may be necessary in connection with or incidental to such use (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control shall not be unreasonably withheld or participate in the conduct of the gaming and/or racing operations at the Facilitiesdelayed.
(b) Tenant shall not commit or suffer Lessee covenants that it will obtain and maintain all material approvals needed to be committed any waste on use and operate the Leased Property (including any Capital Improvement thereto) or cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish and the ability of Facility for the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the TermPrimary Intended Use in compliance with all applicable Legal Requirements.
(c) Tenant Lessee covenants and agrees that during the Term it will use its reasonable best efforts to operate continuously the Leased Property in accordance with its Primary Intended Use and to maintain its certifications for reimbursement, if any, and licensure and its accreditation, if compliance with accreditation standards is required to maintain the operations of the Facility and if a failure to comply would adversely affect operations of the Facility.
(e) Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, including any Capital Addition whether or not financed by Lessor, to be used in such a manner as (i) might is reasonably tend likely to impair Landlord’s title thereto Lessor's estate therein or to in any portion thereof thereof, or (ii) may make possible is reasonably likely to result in a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(df) Except Lessee will not utilize any Hazardous Materials on the Leased Property except in instances accordance with applicable Legal Requirements and will not permit any contamination which may require remediation under any applicable Hazardous Materials Law. Lessee agrees not to dispose of casualty any Hazardous Materials or condemnation, Tenant shall continuously operate each substances within the sewerage system of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided and that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased it will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facilityhandle all "red bag" wastes in accordance with applicable Hazardous Materials Laws.
Appears in 1 contract
Samples: Lease Agreement (Emeritus Corp\wa\)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise reasonable efforts to obtain and to maintain all Licenses and other approvals needed to use and operate the Leased Property and the Hotel under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a SpringHill Suites by Marriott hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its “Primary Intended Use”). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor’s sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter’s regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee’s Personal Property.
(bc) Tenant Subject to the provisions of Articles 14, 15, 18 and 21, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement and the Management Agreement, (3) not terminate or amend the Franchise Agreement or the Management Agreement without the consent of Lessor (which shall not be unreasonably withheld or delayed), (4) maintain appropriate certifications and Licenses for such use and (5) seek to maximize the Gross Revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee’s Personal Property, to be used in such a manner as (i1) might reasonably tend to impair LandlordLessor’s (or Lessee’s, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
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Use of the Leased Property. (a) Tenant After the Commencement Date and during the entire Term, Lessee shall use or cause to be used the Leased Property and the improvements thereon of each Facility for its only as either an inpatient rehabilitation hospital, a long-term acute care hospital or other post-acute healthcare facility or a skilled nursing facility, together with such other uses as may be necessary in connection with or incidental to such use (the “Primary Intended Use”). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control shall not be unreasonably withheld or participate in the conduct of the gaming and/or racing operations at the Facilitiesdelayed.
(b) Tenant Lessee covenants that it will obtain and maintain all material approvals needed to use and operate the Leased Property and the Facility for the Primary Intended Use in compliance with all applicable Legal Requirements.
(c) Lessee covenants and agrees that during the Term it will use its reasonable best efforts to operate continuously the Leased Property in accordance with its Primary Intended Use (it being understood that any temporary discontinuance of operations as a result of a casualty or Condemnation or during the performance of any renovations at the Facility will not be deemed a violation of this subsection (c)) and to maintain its certifications for reimbursement and licensure and its accreditation, if compliance with accreditation standards is required to maintain the operations of the Facility and if a failure to comply would adversely affect operations of the Facility.
(d) Lxxxxx shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, including any Capital Addition whether or not financed by Lessor, to be used in such a manner as (i) might reasonably tend to impair LandlordLessor’s (or Lxxxxx’s, as the case may be) title thereto or to any portion thereof thereof, or (ii) may make possible might reasonably result in a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(df) Except Lessee will not utilize any Hazardous Materials on the Leased Property except in instances accordance with applicable Legal Requirements and will not permit any contamination which may require remediation under any applicable Hazardous Materials Law. Lxxxxx agrees not to dispose of casualty any Hazardous Materials or condemnation, Tenant shall continuously operate each substances within the sewerage system of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a wholeand that it will handle all “red bag” wastes in accordance with applicable Hazardous Materials Laws.
(g) Neither Lessor nor Lessee, provided that during the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior Term, shall initiate or acquiesce to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations any zoning change at the FacilityLeased Property unless such change is requested in writing by the other party.
Appears in 1 contract
Samples: Assignment and Assumption of Lease (Global Medical REIT Inc.)
Use of the Leased Property. (a) Tenant shall use or cause to be used the Leased Property and the improvements thereon of each Facility for its Primary Intended Use. Tenant shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control or participate in the conduct of the gaming and/or racing operations at the Facilities.
(ba) Tenant shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) or cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Term.
(cb) Tenant shall neither suffer nor permit the Leased Property or any portion thereof to be used in such a manner as (i) might reasonably tend to impair Landlord’s title thereto or to any portion thereof or (ii) may make possible a claim of adverse use or possession, or an implied dedication of the Leased Property or any portion thereof.
(dc) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities Facility for the Primary Intended UseUse (except as a result of casualty, condemnation or Unavoidable Delay that affects such Facility). Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Use of the Leased Property. (a) Section 7.2.1 Tenant shall use maintain or cause to be used maintained all licenses, permits, approvals and other Authorizations needed to use and operate for its Primary Intended Use (or any other use permitted under the terms of this Lease) each Leased Property and the improvements thereon Facility located at each such Leased Property under and in accordance with all applicable local, state and federal laws and all applicable state and federal programs including but not limited to appropriate certifications for reimbursement and licensure. All of such Authorizations shall, to the maximum extent permitted by law, relate and apply exclusively to one or more of the Leased Properties and/or the Facilities operated thereon. Tenant acknowledges and agrees that, subject to applicable law, the certificates of need issued for the Facilities are appurtenant to such Facilities, both during and following the termination or expiration of the Term. In jurisdictions where the certificate of need is issued to Tenant or its subtenant, as the Facility operator, Tenant agrees that it shall cooperate with Lessor, in accordance with Section 40.3 hereof, to turn over all of Tenant’s rights in connection with such certificate of need to Lessor or its designee.
Section 7.2.2 After the Commencement Date and during the entire Term, Tenant shall use each Leased Property and the Leased Improvements thereof as a hospital or a nursing center and each Facility for its that is being used as a hospital on the Commencement Date shall continue to be used as a hospital during the entire Term and each Facility being used as a nursing center on the Commencement Date shall continue to be used as a nursing center during the entire Term (such use being the applicable Leased Property’s “Primary Intended Use”). Tenant shall not use the applicable Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord shall not be unreasonably withheld, delayed or conditioned. No use shall be made or permitted to be made of the applicable Leased Property, and no acts shall be done, that will cause the cancellation of any insurance policy covering such Leased Property or any part thereof, nor shall Tenant sell or otherwise provide to occupants or patients therein, or permit to be kept, used or sold in or about such Leased Property any article which may withhold in be prohibited by law or by the standard form of fire insurance policies, or any other insurance policies required to be carried hereunder, or fire underwriters regulations. Tenant shall, at its sole discretion. Landlord acknowledges that operation cost, comply with all of the requirements pertaining to the applicable Leased Property or other improvements of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering such Leased Property and Tenant’s Personal Property.
Section 7.2.3 Tenant shall during the Term operate continuously each Facility for Leased Property in accordance with all applicable federal, state and local laws as a provider of health care services in accordance with its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operatemaintain its certifications for reimbursement and licensure and its accreditation, control or participate in if compliance with accreditation standards is required to maintain the conduct operations of the gaming and/or racing Facility and if a failure to comply would adversely affect operations at of the FacilitiesFacility.
(b) Section 7.2.4 Tenant shall not commit or suffer to be committed any waste on the any Leased Property (including Property, or in any Capital Improvement thereto) or Facility, nor shall Tenant cause or permit any nuisance thereon or to, except as required by law, thereon. Tenant shall not take or suffer omit to take any action action, the taking or omission of which may materially impair the value or the usefulness of such Leased Property or any part thereof for its Primary Intended Use. Without limitation of the foregoing provisions, Tenant shall not (a) enter into any contract, agreement or other instrument, or establish any other arrangement, relating to the operation, repair, maintenance, replacement, construction, alteration, insuring, assignment or subletting, or otherwise affecting the value or usefulness, of any Leased Property or any part thereof, whether with Affiliates of Tenant or any other Person, that is on non-market or non-arm’s length terms and conditions (provided, however, that, notwithstanding the foregoing, Tenant may enter into contracts, agreements or other instruments, or enter into other arrangements, that are on non-market or non-arm’s length terms and conditions relative to a particular Facility provided and on the condition that will diminish the ability same will, in the reasonable business judgment of Tenant, have a de minimus impact on the value, usefulness, operations, EBITDAR and EBITDARM of such Facility) or (b) require any Leased Property to be used as bear or pay, or allocate to any Leased Property for accounting or other purposes (including, without limitation, the determination of EBITDAR or EBITDARM for any Leased Property), a Gaming Facility after share of any costs or expenses that relate to such Leased Property and any other property (including, without limitation, other Combined Leased Properties) that is non-market or otherwise constitutes a disproportionate share of such costs and expenses under the expiration or earlier termination of the Termapplicable facts and circumstances.
(c) Section 7.2.5 Tenant shall neither suffer nor permit the any Leased Property or any portion thereof thereof, including any Capital Alteration whether or not financed by Lessor, or Tenant’s Personal Property, to be used in such a manner as (i) might reasonably tend to impair LandlordLessor’s (or Tenant’s, as the case may be) title thereto or to any portion thereof thereof, or (ii) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the applicable Leased Property or any portion thereof.
(d) Except Section 7.2.6 Nothing contained in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion this Section 7.2 shall be permitted deemed to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: prevent Tenant from (i) no Event of Default has occurred voluntarily withdrawing from the Medicaid program, and is continuing immediately prior voluntarily de-activating its certification for participation therein, as the same apply to a Facility(ies), or immediately after the date that operations are ceased or as a result of such cessation; and (ii) voluntarily reducing the Percentage Rent due from each number of beds at a Facility(ies) as to which a certification for reimbursement under the Medicaid program is applicable (but without affecting Tenant’s certification for participation in the Medicaid program as to any such Facility(ies) and every such Facility whose operations have ceased will thereafter be subject without reducing the number of beds at any Facility(ies) as to which a floor which will be calculated based on certification for participation in the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.Medicaid program is applicable below any legally required minimum number of beds), or
Appears in 1 contract
Samples: Master Lease Agreement (Ventas Inc)
Use of the Leased Property. (a) Tenant covenants that it will timely construct the Hospital Improvements in accordance with the terms and provisions of the Construction Loan Agreement.
(b) Tenant covenants that it will apply for, obtain and maintain throughout the Term all approvals and licenses needed to use and operate the Leased Property and the Facility for the Primary Intended Use under applicable local, state and federal law, including but not limited to licensure approvals and Medicare and Medicaid certifications, provider numbers, certificates of need, governmental approvals, and full accreditation from all applicable governmental authorities and accreditation organizations, if any, that are necessary for the operation of the Facility as a general acute care hospital facility. Tenant acknowledges that the Land and the Northeast Parking Parcel are encumbered by the REA and agrees that Tenant will fully and completely comply with the terms of the REA in connection with the development and use of the Leased Property and the operation of the Facility.
(c) From and after the Completion of the Hospital Improvements and throughout the remainder of the Term, Tenant shall use or cause to be used the Leased Property and the improvements thereon of each Facility Hospital Improvements as a general acute care hospital facility in accordance with the approval received from TDH and as currently defined in the healthcare industry and for its such other uses as may be necessary in connection with or incidental to such use (the "Primary Intended Use"). Tenant shall not use the Leased Property Property, the Hospital Improvements or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of Landlord, which consent Landlord Tenant agrees may withhold be withheld in its Landlord's sole discretion. Landlord acknowledges No use shall be made or permitted to be made of the Leased Property and/or the Hospital Improvements and no acts shall be done which will cause the cancellation of any insurance policy covering the Leased Property or the Hospital Improvements or any part thereof, nor shall Tenant sell or otherwise provide to residents or patients therein, or permit to be kept, used or sold in or about the Leased Property and/or the Hospital Improvements any article which may be prohibited by law or by the standard form of fire insurance policies, any other insurance policies required to be carried hereunder or under applicable fire underwriters regulations. Tenant, at its sole cost, shall comply with all requirements, covenants and restrictions pertaining to the Leased Property, including, without limitation, all of the Permitted Exceptions, and other requirements of any insurance board, association, organization or company necessary for the maintenance of the insurance, as herein provided, covering the Leased Property, Tenant's Personal Property and the Hospital Improvements.
(d) Tenant covenants and agrees that operation during the Term Tenant will continuously operate the Leased Property and the Hospital Improvements only as a provider of each Facility for its healthcare services in accordance with the Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control or participate in the conduct of the gaming and/or racing operations at the FacilitiesTenant shall maintain all required certifications for reimbursement and licensure and all accreditations.
(be) Tenant shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Tenant cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(cf) Tenant shall neither suffer nor permit the Leased Property or any portion thereof thereof, including any Capital Addition whether or not financed by Landlord, the Hospital Improvements or Tenant's Personal Property, to be used in such a manner as (i) might reasonably tend to impair Landlord’s 's (or Tenant's, as the case may be) title thereto or to any portion thereof thereof, or (ii) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
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Use of the Leased Property. (a) Tenant covenants that it will proceed with all due diligence and will exercise its best efforts to obtain and to maintain all approvals needed to use and operate the Leased Property and the Facility under applicable local, state and federal law.
(b) Tenant shall use or cause to be used the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Landlord (the improvements thereon of each Facility for its “Primary Intended Use”). Tenant shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of Landlord, which consent Landlord may withhold be granted, denied or conditioned in its Landlord’s sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Landlord is available and Tenant pays any premium increase), nor shall Tenant sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter’s regulations. Tenant shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Tenant’s Personal Property.
(bc) Subject to the provisions of Sections 14 and 15, 20 and 21, Tenant covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement (other than requirements with respect to Capital Improvements), (3) not terminate or amend the Franchise Agreement without the consent of Landlord, (4) maintain appropriate certifications and licenses for such use and (5) will seek to maximize the gross revenue generated therefrom consistent with sound business practices.
(d) Tenant shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Tenant cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Tenant’s Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s (or Tenant’s, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property.
(f) Throughout the Term, taken neither Tenant nor any Affiliate of Tenant shall own, lease, operate, manage, franchise or have any interest in any hotel or motel that is within a five (5) mile radius of any hotel or motel property in which Landlord or an Affiliate of Landlord has an interest on the date Tenant or its Affiliate would otherwise commence operating or managing such property, other than pursuant to this Lease or another lease, agreement or arrangement with Landlord or an Affiliate of Landlord. Tenant agrees to notify Landlord, from time to time at the request of Landlord, of the location of any hotel or motel property the Tenant or any Affiliate owns, leases, operates, manages or has an interest in. Landlord agrees to notify Tenant, from time to time at the request of Tenant, of the location of any hotel or motel property in which Landlord or an Affiliate of Landlord has an interest. At the request of Landlord, Tenant shall provide such information as a whole, provided Landlord may reasonably request in order to confirm to the Landlord that the following conditions requirements of this Section 7.2(f) are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Samples: Lease Agreement (American Realty Capital Hospitality Trust, Inc.)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise its best effort to obtain and to maintain all approvals needed to use and operate the Leased Property and the Facility under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor's sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
(bc) Tenant Subject to the provisions of Articles XIV, XV, XXI and XXII, Lessee covenants and agrees that during the Term it will (1) operate continuously the Lease Property as a hotel facility, (2) keep in full force and effect and comply with all the provision of the Franchise Agreement, (3) not terminate or amend the Franchise Agreement without the consent of Lessor, (4) maintain appropriate certifications and licenses for such use and (5) will seek to maximize the gross revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Lease Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
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Use of the Leased Property. (a) Tenant Lessee covenants that it will obtain and to maintain all approvals needed to use and operate the Leased Property and the Facility under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor's sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
(bc) Tenant Subject to the provisions of Articles XIV and XV, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement (except that Lessee shall have no obligation to complete any improvements to the Leased Property required by the franchisor unless the Lessor funds the cost thereof), (3) not terminate or amend the Franchise Agreement without the consent of Lessor, (4) maintain appropriate certifications and licenses for such use and (5) will seek to maximize the Gross Revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise its best efforts to obtain and to maintain all approvals needed to use and operate the Leased Property and the Facility under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a hotel facility (including food and beverage operations) of a caliber consistent with its present use, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor's sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
(bc) Tenant Subject to the provisions of Articles XIV and XV Lessee covenants and agrees that during the Term it will (1) maintain, operate continuously the Leased Property as a hotel facility of the class currently operated at the Leased Property, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement, (3) not terminate or amend the Franchise Agreement without the consent of Lessor, (4) maintain appropriate certifications and licenses for such use and otherwise comply with all Legal Requirements and (5) seek to maximize the gross revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof, subject to Lessor's prior consent.
(df) Except as set forth on Exhibit F attached hereto and incorporated by reference, Lessee or an Affiliate of Lessee shall not own, or have any ownership interest in, any hotel or motel property in instances which Lessor or an Affiliate of casualty Lessor does not have an interest. Neither Lessee nor an Affiliate of Lessee shall operate or condemnationmanage any hotel or motel that is within a ten (10) mile radius of any hotel or motel property in which Lessor or an Affiliate of Lessor has an interest on the date Lessee or its Affiliate would otherwise commence operating or managing such property, Tenant shall continuously operate each other than pursuant to this Lease or another lease, agreement or arrangement with Lessor or an Affiliate of Lessor. Lessor agrees to notify Lessee promptly of the Facilities for the Primary Intended Use. Tenant location of any hotel or motel property in its discretion which Lessor or an Affiliate of Lessor has an interest.
(g) Lessee shall be permitted to cease operations at a Facility not use, generate, handle, dispose or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or store Hazardous Materials on the Leased Property, taken except in the normal course of operations of the Leased Property as a wholehotel and in compliance with all Environmental Laws.
(h) Lessee shall not enter into any collective bargaining agreements with respect to any of the employees at the Leased Property without the prior consent of Lessor, provided that the following conditions are satisfied: which shall not be unreasonably withheld or delayed, unless required by law.
(i) no Event Lessee hereby assumes and agrees to perform all of Default has occurred and is continuing immediately prior to or immediately after the obligations of Lessor under all leases in effect at the Leased Property as of the date of commencement of the Term.
(j) Lessee represents that, as of the date hereof, its sole business activity consists of, and Lessee covenants that, during the Term hereof, its sole business activity shall consist of the lease and operation of the Leased Property, the Other Hotels and the operations described in Exhibit G attached hereto and incorporated by reference, all of which shall be performed by subsidiaries of Lessee and not by Lessee directly. Except as provided in the foregoing sentence, and on Exhibit F, Lessee agrees that operations are ceased neither it nor any of its Affiliates shall own, lease, operate, manage or as a result franchise, directly or indirectly, any hotel not owned by Lessor or any Affiliate of such cessation; Lessor during the Term of this Lease. Notwithstanding the foregoing, Lessor acknowledges that Lessee, through its subsidiaries, may engage in third party hotel management, purchasing services interior design services and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facilityother business activities.
Appears in 1 contract
Samples: Percentage Lease Agreement (Boykin Lodging Trust Inc)
Use of the Leased Property. (a) Section 7.2.1 Tenant shall use maintain or cause to be used maintained all licenses, permits, approvals and other Authorizations needed to use and operate for its Primary Intended Use (or any other use permitted under the terms of this Lease) each Leased Property and the improvements thereon Facility located at each such Leased Property under and in accordance with all applicable local, state and federal laws and all applicable state and federal programs including but not limited to appropriate certifications for reimbursement and licensure. All of such Authorizations shall, to the maximum extent permitted by law, relate and apply exclusively to one or more of the Leased Properties and/or the Facilities operated thereon. Tenant acknowledges and agrees that, subject to applicable law, the certificates of need issued for the Facilities are appurtenant to such Facilities, both during and following the termination or expiration of the Term. In jurisdictions where the certificate of need is issued to Tenant or its subtenant, as the Facility operator, Tenant agrees that it shall cooperate with Lessor, in accordance with Section 40.3 hereof, to turn over all of Tenant's rights in connection with such certificate of need to Lessor or its designee.
Section 7.2.2 After the Commencement Date and during the entire Term, Tenant shall use each Leased Property and the Leased Improvements thereof as a hospital or a nursing center and each Facility for its that is being used as a hospital on the Commencement Date shall continue to be used as a hospital during the entire Term and each Facility being used as a nursing center on the Commencement Date shall continue to be used as a nursing center during the entire Term (such use being the applicable Leased Property's "Primary Intended Use"). Tenant shall not use the applicable Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord shall not be unreasonably withheld, delayed or conditioned. No use shall be made or permitted to be made of the applicable Leased Property, and no acts shall be done, that will cause the cancellation of any insurance policy covering such Leased Property or any part thereof, nor shall Tenant sell or otherwise provide to occupants or patients therein, or permit to be kept, used or sold in or about such Leased Property any article which may withhold in be prohibited by law or by the standard form of fire insurance policies, or any other insurance policies required to be carried hereunder, or fire underwriters regulations. Tenant shall, at its sole discretion. Landlord acknowledges that operation cost, comply with all of the requirements pertaining to the applicable Leased Property or other improvements of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering such Leased Property and Tenant's Personal Property.
Section 7.2.3 Tenant shall during the Term operate continuously each Facility for Leased Property in accordance with all applicable federal, state and local laws as a provider of health care services in accordance with its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operatemaintain its certifications for reimbursement and licensure and its accreditation, control or participate in if compliance with accreditation standards is required to maintain the conduct operations of the gaming and/or racing Facility and if a failure to comply would adversely affect operations at of the FacilitiesFacility.
(b) Section 7.2.4 Tenant shall not commit or suffer to be committed any waste on the any Leased Property (including Property, or in any Capital Improvement thereto) or Facility, nor shall Tenant cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Term.
(c) Tenant shall neither suffer nor permit the Leased Property or any portion thereof to be used in such a manner as (i) might reasonably tend to impair Landlord’s title thereto or to any portion thereof or (ii) may make possible a claim of adverse use or possession, or an implied dedication of the Leased Property or any portion thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.nuisance
Appears in 1 contract
Samples: Master Lease Agreement (Ventas Inc)
Use of the Leased Property. (a) Tenant 7.2.1 Lessee ovenants that it will obtain and maintain all authorizations and approvals needed to use and operate the Leased Property, all Capital Additions and the Facility for the Primary Intended Use and any other use conducted on the Leased Property and any Capital Additions as may be permitted from time to time hereunder in substantial compliance with all Legal Requirements, including applicable licenses, provider agreements, permits, and Medicare and/or Medicaid certification.
7.2.2 Lessee shall use or cause to be used the Leased Property Property, all Capital Additions and the improvements thereon of each Facility for its the Primary Intended Use. Tenant Lessee shall not use the Leased Property Property, any Capital Additions or any portion part(s) thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord Lessor may withhold in its sole discretion. Landlord acknowledges ; provided, however, that operation Lessor agrees not to unreasonably withhold its consent to a change in use of each Facility for its the Leased Property from the Primary Intended Use generally requires to another health care related use.
7.2.3 Except as a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operateresult of (a) damage, control destruction or participate in the conduct Condemnation of the gaming and/or racing operations at the Facilities.
Leased Property and such reasonable period of time to effect repairs necessitated thereby, (b) Tenant temporary closures of portions of the Facility as may reasonably necessary to effect repairs and/or maintenance to the Facility and/or to perform any approved Capital Projects, provided that any such temporary closure shall be (i) only for so long as may be reasonably required to effect such repairs/maintenance and/or perform such Capital Project and (ii) limited only to that portion of the Facility effected thereby (including all, if applicable) or (c) any other occurrence of the nature and type described in Section 45.16 of this Lease, Lessee shall at all times during the Term operate continuously the entire Leased Property and all Capital Additions in accordance with the Primary Intended Use. Lessee shall devote the entire Facility and all Capital Additions to the Primary Intended Use, except for areas reasonably required for office or storage space uses incidental to the Primary Intended Use. Lessee shall not modify the services offered or take any other action (e.g., removing patients or residents from the Facility or directing patients or residents, or prospective patients or residents, to another Facility except for (i) medically appropriate reasons, (ii) patient/resident relations (including compatibility), or (iii) the acute care needs of such patient/resident) which would materially reduce the Fair Market Value of the Facility. Lessee shall utilize commercially reasonable efforts to operate the Facility in such a manner so as to maintain the reputation and attractiveness of the Facility.
7.2.4 Lessee shall conduct its business at the Facility in conformity with the standards of patient or resident care practice provided in similar good-quality facilities in the State. Without limiting generality of the foregoing, Lessee shall at all times exercise its best efforts to maintain an adequate staff for the service of its residents and/or patients consistent with such standards of patient or resident care practice provided in similar good-quality facilities in the State and industry.
7.2.5 Lessee shall not commit or suffer to be committed any waste on the Leased Property (including and/or on or to any Capital Improvement thereto) Additions or cause or permit any nuisance to exist thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termwith respect thereto.
(c) Tenant shall neither suffer nor permit the Leased Property or any portion thereof to be used in such a manner as (i) might reasonably tend to impair Landlord’s title thereto or to any portion thereof or (ii) may make possible a claim of adverse use or possession, or an implied dedication of the Leased Property or any portion thereof.7.2.6 [Intentionally Deleted]
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.7.2.7 [Intentionally Deleted]
Appears in 1 contract
Samples: Lease (Centennial Healthcare Corp)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise its reasonable best efforts to obtain and to maintain all approvals needed to use and operate the Leased Property and the Hotel under applicable local, state and federal law. Lessor covenants that it will cooperate in good faith in all respects, at Lessee's expense, in connection with Lessee's efforts to obtain and maintain such approvals.
(b) Lessee shall use or cause to be used the Leased Property only as a hotel facility of the class and quality at least equal to that of the improvements thereon Hotel as of each Facility the Transition Date, and for its such other uses as may be necessary or incidental to such hotel facility use or such other or additional use as otherwise approved in writing by Lessor (the "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor's sole discretion. Landlord acknowledges No use shall be made or permitted to be made of the Leased Property, other than the Primary Intended Use, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by Legal Requirements or fire underwriter's regulations. Lessee shall, at its sole cost, comply with all of the requirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property, unless such compliance requires the performance of a Capital Improvement or the payment of a Capital Imposition, in which case Lessor shall pay the cost of such Capital Improvement or Capital Imposition in order for Lessee so to comply.
(c) Subject to any provisions of this Lease to the contrary, Lessee covenants and agrees that operation of each Facility during the Term it will (i) continuously operate the Leased Property for its the Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control (subject to closures of all or participate in the conduct part of the gaming and/or racing operations at Hotel during Unavoidable Occurrences and by prior agreement with Lessor during the Facilitiesconstruction of PIP improvements and Contemplated Renovations), (ii) keep in full force and effect and comply with all the provisions of any Franchise Agreement (other than requirements with respect to Capital Improvements and other obligations of Lessor hereunder), (iii) not terminate or amend any Franchise Agreement without the consent of Lessor (which consent shall not be unreasonably withheld), (iv) maintain appropriate certifications and licenses for such use, (v) seek to maximize the Gross Revenues generated therefrom consistent with sound business practices and Lessee's concurrent goal of maximizing its net operating income therefrom and (vi) upon request, keep Lessor advised of the status of any material or uninsured litigation affecting the Leased Property.
(bd) Tenant Lessor covenants and agrees that during the Term it will (1) not take or allow any Affiliate to take or fail to take any action that would interfere with, restrict or prohibit Lessee's operation of the Leased Property as the Primary Intended Use, including, without limitation, modifying, amending or terminating any Franchise Agreement or any licenses,
(e) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Term.
(c) Tenant thereon. Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Hotel (or other Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or ) on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise its best efforts to obtain and to maintain all approvals needed to use and operate the Leased Property and the Facility under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use, or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor. No use shall be made or permitted to be made of the Leased Property, and no acts shall be done, which consent Landlord may withhold will cause the cancellation of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in its sole discretionor about the Leased Property any article which is prohibited by law or fire underwriter's regulations. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control or participate in the conduct Lessee shall comply with all of the gaming and/or racing operations requirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property, which compliance shall be performed at Lessee's sole cost except to the Facilitiesextent that such compliance requires the performance of a Capital Improvement or the payment of a Capital Imposition which are Lessor's responsibilities.
(bc) Tenant Subject to the provisions of Articles XIV and XV, Lessee covenants and agrees that during the Term it will either directly or through an approved manager (1) operate continuously (subject to Unavoidable Occurrences) the Leased Property as a hotel facility, (2) keep in full force and effect and comply in all material respects with all the provisions of the Franchise Agreement, except Lessee shall have no obligation to complete any Capital Improvements required by Franchisor as set forth in Article XXXVII hereof, (3) not terminate or amend in any respect the Franchise Agreement without the consent of Lessor, (4) maintain appropriate certifications and licenses for such use and (5) keep Lessor advised of the status of any material litigation affecting the Leased Property.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer use nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to would impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may make possible would support a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Samples: Lease Agreement (American General Hospitality Corp)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise reasonable efforts to obtain and to maintain all Licenses and other approvals needed to use and operate the Leased Property and the Hotel under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a Residence Inn by Marriott hotel facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor's sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
(bc) Tenant Subject to the provisions of Articles 14, 15, 18 and 21, Lessee covenants and agrees that during the Term it will (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply with all the provisions of the Franchise Agreement and the Management Agreement, (3) not terminate or amend the Franchise Agreement or the Management Agreement without the consent of Lessor (which shall not be unreasonably withheld or delayed), (4) maintain appropriate certifications and Licenses for such use and (5) seek to maximize the Gross Revenues generated therefrom consistent with sound business practices.
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Hotel, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Samples: Master Hotel Lease Agreement (Apple Hospitality Two Inc)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence to obtain, and will obtain and maintain, all permits, licenses and approvals, including, without limitation, liquor licenses, needed to use and operate the Leased Property and the Facility under applicable Legal Requirements.
(b) Lessee shall use or cause to be used the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use, including but not limited to golf course or casino use, if applicable, or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its Primary Intended Use"PRIMARY INTENDED USE"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor. No use shall be made or permitted to be made of the Leased Property, and no acts shall be done, which consent Landlord may withhold will cause the cancellation of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in its sole discretionor about the Leased Property any article which is prohibited by law or fire underwriter's regulations. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control or participate in the conduct Lessee shall comply with all of the gaming and/or racing operations requirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property, which compliance shall be performed at Lessee's sole cost except to the Facilitiesextent that such compliance requires the performance of a Capital Improvement or the payment of a Capital Imposition.
(bc) Tenant Subject to the provisions of ARTICLES XIV and XV, Lessee covenants and agrees that during the Term it will either directly or through an approved manager (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply in all material respects with all the provisions of the Franchise Agreement, (3) not enter into, terminate or amend in any respect any Franchise Agreement without the consent of Lessor, (4) maintain appropriate certifications and licenses for such use and (5) keep Lessor advised of the status of any material litigation affecting the Leased Property.
(d) Subject to Lessor's obligations hereunder with respect to Capital Improvements and Capital Expenditures, Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(df) Except Lessee acknowledges and agrees that as long Submanagement Agreement is in instances effect all employees involved in the operation of casualty or condemnationLeased Property shall be employees of Submanager, Tenant shall continuously operate each and in any event all employees involved in the use and operation of the Facilities for the Primary Intended Use. Tenant in its discretion Leased Property shall be permitted to cease operations at a Facility employees of Lessee, Manager, or Facilities if such cessation would one of their direct or indirect subsidiaries and not reasonably be expected to have a material adverse effect on Tenantof Lessor, the FacilitiesCompany or any of the Company's direct or indirect subsidiaries. Lessee, Manager, and their applicable Affiliates shall (subject to Lessor's obligations with respect to Capital Improvements and Capital Expenditures) comply in all material respects with all Legal Requirements and all collective bargaining and other agreements applicable to such employees. Upon the expiration or earlier termination of this Lease, or on the Leased Propertyupon any termination of this Lease due to an Event of Default by Lessee or an election by Lessee to terminate for reasons other than Lessor's default, taken all such employees shall be terminated or retained by Lessee, Manager or their Affiliate, as a wholeapplicable, provided that the following conditions are satisfied: and Lessee, Manager or their Affiliate, as applicable, shall (i) no Event of Default has occurred provide any required notices to such employees, including WARN Act and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessationCOBRA Notices; and (ii) pay costs and expenses associated with accrued but unpaid salary, earned but unpaid vacation pay, accrued but unearned vacation pay, pension and welfare benefits, COBRA benefits, employee fringe benefits, employee termination payments or any other employee benefits due to such employees. Except as otherwise provided herein, Lessee shall indemnify, defend and hold harmless Lessor from and against any and all claims, causes of action, proceedings, judgments, damages, penalties, liabilities, costs and expenses (including reasonable attorney's fees and disbursements) arising out of the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject employment or termination of employment of or failure to a floor which will be calculated based on offer employment to any employee or prospective employee by Lessee, Manager or their Affiliates, including, without limitation, claims of discrimination, sexual harassment, breaches of employment or collective bargaining agreements, or (ii) the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.failure of Lessee, Manager or any of their Affiliates to comply with the
Appears in 1 contract
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise its best efforts to obtain and to maintain all approvals needed to use and operate the Leased Property under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a hotel and spa facility, and for such other uses as may be necessary or incidental to such use or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be granted, denied or conditioned in its Lessor's sole discretion. Landlord acknowledges that operation of each Facility for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations and that without such a license neither Landlord nor GLP may operate, control No use shall be made or participate in the conduct permitted to be made of the gaming and/or racing operations Leased Property, and no acts shall be done, which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or fire underwriter's regulations. Lessee shall, at its sole cost, comply with all of the Facilitiesrequirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property.
(bc) Tenant Subject to the provisions of Articles XIV, XV, and XXI, Lessee covenants and agrees that during the term of this Lease it will (1) operate continuously the Leased Property as a hotel and spa facility, (2) keep in full force and effect and comply with all the provisions of the Management Agreement, (3)
(d) Lessee shall not commit or suffer to be committed any waste on the Leased Property (including any Capital Improvement thereto) or normal wear and tear excepted), nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except , except as necessary in instances of casualty or condemnation, Tenant shall continuously operate each the ordinary and prudent operation of the Facilities for the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or Hotel on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Samples: Lease Agreement (Crescent Real Estate Equities Inc)
Use of the Leased Property. (a) Tenant 7.2.1 Lessee covenants that it will obtain and will at all times during the Term maintain all approvals needed to use and operate the Leased Property and each Facility under applicable federal, state and local law, including, but not limited to, licensure and Medicaid certification, if and as applicable. Lessee shall provide to Lessor, at Lessor's request a copy of any report or survey conducted by any federal, state or local government entity regarding the quality of care at each Facility, and any other such information or documents concerning the operation of each Facility.
7.2.2 After the Commencement Date and during the entire Term, Lessee shall use or cause to be used the Leased Property as separate assisted living facilities licensed (if applicable) by the State of Ohio and uses incidental to the improvements thereon of each Facility for its foregoing, including without limitation home health services provided in accordance with and as contemplated under Paragraph 22, below (the particular such use to which the Leased Property is put at any particular time is herein referred to as the "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor, which consent Landlord may withhold be withheld in Lessor's sole and absolute discretion. No use shall be made of the Leased Property, and no acts shall be done, which will cause the cancellation of any insurance policy to residents therein, or permit to be kept, used or sold in or about the Leased Property any article which may be prohibited by law or by the standard form of fire insurance policies, or any other insurance policies required to be carried hereunder, or fire underwriter's regulations. Lessee shall, at its sole discretion. Landlord acknowledges cost, comply with all of the requirements pertaining to the Leased Property or other improvements of any insurance board, association, organization, or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property.
7.2.3 Lessee covenants and agrees that operation subject to damage, destruction and condemnation described in Articles XIV and XV, during the Term it will operate continuously the entirety of each Facility for the Leased Property in accordance with its Primary Intended Use generally requires Use, provided that Lessee may cease operations (at no more than one (1) Facility at a Gaming License under applicable Gaming Regulations time) for more than ten (10) days (i) if Lessee obtains Lessor's prior written approval, and that without (ii) so long as such a license neither Landlord nor GLP may operate, control cessation of operations does not impair or participate in threaten the conduct status or effectiveness of the gaming and/or racing operations at the Facilitiesoperating license or other certification for operating such Facility in accordance with its Primary Intended Use.
(b) Tenant 7.2.4 Lessee shall not commit or suffer to be committed any waste on the Leased Property (including Property, or in any Capital Improvement thereto) or Facility nor shall Lessee cause or permit any nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(c) Tenant 7.2.5 Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, including Lessee's Personal Property, to be used in such a manner as (i) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof; or (ii) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(d) Except 7.2.6 Lessee covenants and agrees that during the Term it will maintain all licenses, approvals, permits and certifications for reimbursement, licensure and as otherwise required for operating the Facility in instances of casualty or condemnation, Tenant shall continuously operate each of the Facilities for the accordance with its Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on the Leased Property, taken as a whole, provided that the following conditions are satisfied: (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues for the Fiscal Year immediately preceding the time that Tenant ceased operations at the Facility.
Appears in 1 contract
Samples: Lease Agreement (LTC Healthcare Inc)
Use of the Leased Property. (a) Tenant Lessee covenants that it will proceed with all due diligence and will exercise its best efforts to obtain and to maintain all approvals needed to use and operate the Leased Property and the Facility under applicable local, state and federal law.
(b) Lessee shall use or cause to be used the Leased Property only as a hotel facility, and for such other uses as may be necessary or incidental to such use, or such other use as otherwise approved by Lessor (the improvements thereon of each Facility for its "Primary Intended Use"). Tenant Lessee shall not use the Leased Property or any portion thereof or any Capital Improvement thereto for any other use without the prior written consent of LandlordLessor. No use other than the Primary Intended Use shall be made or permitted to be made of the Leased Property, and no acts shall be intentionally done which will cause the cancellation or increase the premium of any insurance policy covering the Leased Property or any part thereof (unless another adequate policy satisfactory to Lessor is available and Lessee pays any premium increase), nor shall Lessee sell or permit to be kept, used or sold in or about the Leased Property any article which Lessee knows is prohibited by law or fire underwriter's regulations. Lessee shall use reasonable efforts to comply with all of the requirements pertaining to the Leased Property of any insurance board, association, organization or company necessary for the maintenance of insurance, as herein provided, covering the Leased Property and Lessee's Personal Property, which compliance shall be performed at Lessee's sole cost.
(c) Subject to the provisions of Articles 14 and 15, Lessee covenants and agrees that during the Term it will either directly or through an approved Manager use reasonable efforts to (1) operate continuously the Leased Property as a hotel facility, (2) keep in full force and effect and comply in all material respects with all the provisions of the Franchise Agreement, (3) not terminate or amend in any material respect the Franchise Agreement without the consent of Lessor, which consent Landlord may withhold in its sole discretion. Landlord acknowledges that operation of each Facility not be unreasonably withheld, conditioned or delayed, (4) maintain appropriate certifications and licenses for its Primary Intended Use generally requires a Gaming License under applicable Gaming Regulations such use and that without such a license neither Landlord nor GLP may operate, control or participate in the conduct (5) keep Lessor advised of the gaming and/or racing operations at status of any material litigation affecting the FacilitiesLeased Property.
(bd) Tenant Lessee shall not commit or suffer to be committed any material waste on the Leased Property (including any Capital Improvement thereto) Property, or in the Facility, nor shall Lessee cause or permit any material nuisance thereon or to, except as required by law, take or suffer any action or condition that will diminish the ability of the Leased Property to be used as a Gaming Facility after the expiration or earlier termination of the Termthereon.
(ce) Tenant Lessee shall neither suffer nor permit the Leased Property or any portion thereof thereof, or Lessee's Personal Property, to be used in such a manner as (i1) might reasonably tend to impair Landlord’s Lessor's (or Lessee's, as the case may be) title thereto or to any portion thereof thereof, or (ii2) may reasonably make possible a claim or claims of adverse use usage or possessionadverse possession by the public, as such, or an of implied dedication of the Leased Property or any portion thereof.
(df) Except in instances of casualty or condemnation, Tenant Lessee shall continuously operate each use reasonable efforts to comply with all of the Facilities for Lessor's material covenants, in any loan agreement or other financing arrangement, applicable to this Lease or the Primary Intended Use. Tenant in its discretion shall be permitted to cease operations at a Facility or Facilities if such cessation would not reasonably be expected to have a material adverse effect on Tenant, the Facilities, or on operation of the Leased PropertyProperty of which Lessee has knowledge. Notwithstanding the foregoing, taken as a whole, provided that the following conditions are satisfied: Lessee shall not be obligated to comply with Lessor's covenants in any loan agreements which (A) (i) no Event of Default has occurred and is continuing immediately prior to or immediately after the date that operations are ceased or as a result of such cessation; and not customary, (ii) the Percentage Rent due from each and every such Facility whose operations have ceased will thereafter be subject to a floor which will be calculated based on the Percentage Rent that would have been paid for such Facility if Percentage Rent were adjusted based on Net Revenues are not otherwise contemplated by this Lease Agreement or any agreement or instrument executed by Lessee in connection herewith for the Fiscal Year immediately preceding benefit of Lessor, and (iii)(x) materially and adversely affect the time that Tenant ceased operations at the FacilityFacility or (y) materially increase Lessee's costs of doing business or decrease revenues, unless in cases where Subsection (iii)(y) is relied upon by Lessee the additional cost thereof is borne by Lessor, or (B) obligate Lessee to guarantee repayment of any debt of Lessor, or (C) require any indemnification undertakings other than customary undertakings with respect to servicing agents or similar administrative agents which administer escrow accounts into which Lessee may deposit Rent payments as required by Lessor's lenders or other servicing agents. Lessor will provide Lessee with not less than 15, and will attempt in good faith to provide not less than 30, days prior written notice of the terms of such covenants, and if Lessee is relying upon Subsection (iii)(y), Lessee shall within thirty (30) days of receipt of such notice, notify Lessor in writing of any anticipated material additional costs which Lessee may incur. Lessor shall then notify Lessee in writing whether it agrees to pay or reimburse Lessee for the material additional cost thereof as incurred by Lessee, and Lessee's receipt of such notice shall be a condition precedent to Lessee's obligation to comply with such covenants. Lessor shall have the right to dispute Lessee's reliance on Subsections (A)-(C) or Lessee's estimates of additional costs pursuant to Subsection (A)(iii)(y), and either party may submit any such disputes to arbitration under the provisions of Section 40.2.
Appears in 1 contract