Common use of Verification of Restoration and Rebuilding Clause in Contracts

Verification of Restoration and Rebuilding. In the event of ------------------------------------------ Casualty or Condemnation, to verify the related Lessee's compliance with the foregoing Section 10.3 or 10.4, as appropriate, Lessor, the Agent, the Lenders ------------ ---- and their respective authorized representatives may, upon five (5) Business Days' notice to such Lessee, make inspections of the affected Leased Property with respect to (i) the extent of the Casualty or Condemnation and (ii) the restoration and rebuilding of the related Building and the Land. All actual and reasonable out-of-pocket costs of such inspections incurred by Lessor, the Agent or any Lender will be paid by the related Lessee promptly after written request. No such inspection shall unreasonably interfere with the related Lessee's operations or the operations of any other occupant of such Leased Property. None of the inspecting parties shall have any duty to make any such inspection or inquiry and none of the inspecting parties shall incur any liability or obligation by reason of making or not making any such inspection or inquiry.

Appears in 1 contract

Samples: Master Lease Agreement (Rowe Companies)

AutoNDA by SimpleDocs

Verification of Restoration and Rebuilding. In the event of ------------------------------------------ a Casualty or Condemnation, to verify the related Lessee's ’s compliance with the foregoing its obligations in Section 10.3 or 10.4, as appropriate10.1(c), Lessor, the Agent, the Lenders ------------ ---- Administrative Agent and their respective authorized representatives may, (A) upon five (5) Business Days' notice to such Lessee, make inspections of the affected Leased Property with respect to (i) the extent of the Casualty or Condemnation and (ii) the restoration and rebuilding of the related Building Improvements and the Land(B) receive periodic updates at no cost from Lessee’s independent architect contracted in connection with such restoration and rebuilding. All actual and reasonable out-of-pocket costs of such inspections incurred by Lessor, the Lessor or Administrative Agent or any Lender will be paid by the related Lessee promptly after written request. No such inspection shall unreasonably interfere with the related Lessee's ’s operations or the operations of any other occupant of such the Leased Property. None of the inspecting parties shall have any duty to make any such inspection or inquiry and none of the inspecting parties shall incur any liability or obligation by reason of making or not making any such inspection or inquiry.

Appears in 1 contract

Samples: Lease Agreement (Lennox International Inc)

Verification of Restoration and Rebuilding. In the event of ------------------------------------------ Casualty or Condemnation, to verify the related Lessee's compliance with the foregoing Section SECTION 10.3 or 10.4, as appropriate, Lessor, the Syndication Agent, the Lenders ------------ ---- and their respective authorized representatives may, upon five (5) Business Days' notice to such Lessee, make inspections of the affected Leased Property with respect to (i) the extent of the Casualty or Condemnation and (ii) the restoration and rebuilding of the related Building and the Land. All actual and reasonable out-of-pocket costs of such inspections incurred by Lessor, the Syndication Agent or any Lender will be paid by the related Lessee promptly after written request. No such inspection shall unreasonably interfere with the related Lessee's operations or the operations of any other occupant of such Leased Property. None of the inspecting parties shall have any duty to make any such inspection or inquiry and none of the inspecting parties shall incur any liability or obligation by reason of making or not making any such inspection or inquiry.

Appears in 1 contract

Samples: Master Lease Agreement (Cornell Companies Inc)

AutoNDA by SimpleDocs

Verification of Restoration and Rebuilding. In the ------------------------------------------ event of ------------------------------------------ Casualty or Condemnation, to verify the related Lessee's compliance with the foregoing Section 10.3 or 10.4, as appropriate, the Lessor, the ------------ ---- Agent, the Lenders ------------ ---- and their respective authorized representatives may, upon five (5) Business Days' notice to such the Lessee, make inspections of the affected Leased Property with respect to (i) the extent of the Casualty or Condemnation and (ii) the restoration and rebuilding of the related Building and the Land. All actual and reasonable out-of-pocket costs of such inspections incurred by the Lessor, the Agent or any Lender will be paid by the related Lessee promptly after written request. No such inspection shall unreasonably interfere with the related Lessee's operations or the operations of any other occupant of such the Leased Property. None of the inspecting parties shall have any duty to make any such inspection or inquiry and none of the inspecting parties shall incur any liability or obligation by reason of making or not making any such inspection or inquiry.

Appears in 1 contract

Samples: Master Lease Agreement (Jones Financial Companies Lp LLP)

Time is Money Join Law Insider Premium to draft better contracts faster.