Examples of Plant improvements in a sentence
At the end of the Term of this Lease, upon payment of the applicable Termination Fee(s), if any, possession and use of the Xxxx Center Plant (including the Xxxx Center Plant Assets and any Plant Improvements constructed during the Term) will revert to Lessor, free and clear of any interest of BREP, BREP’s Trustee or BREP’s Financier or any other claim or lien arising by or through BREP.
Pursuant to the ownership and tax status of the Parties as defined in Section 2.2, each Party shall pay to the appropriate collecting authorities all federal, state and local taxes, fees and assessments becoming due and payable with respect to the Leased Property, Plant Improvements and Xxxx Center Building Energy Optimization Improvements, and all taxes or other charges imposed during the Term of this Lease with respect to any business operations on the Leased Property.
At any time and from time to time during the Term of this Lease, BREP may grant one or more Mortgages over its interests in this Lease and any Plant Improvements made to the Leased Property to the extent they constitute “fixtures” as defined by La. R.S. 10:9-334 in favor of a Mortgagee, containing such terms and provisions as BREP may deem fit and proper; provided, that any such Mortgage shall not be for a period beyond the Term of this Lease.
In the event a Mortgagee acquires rights in this Lease or any Plant Improvements made to the Leased Property pursuant to any proceedings for foreclosure of a Mortgage, or by a voluntary assignment or transfer in lieu of foreclosure or otherwise, the Mortgagee shall be deemed an assignee of all the rights and obligations of the mortgagor (or its successor or assign, as applicable) under this Lease.
Lessor shall have thirty (30) days to provide comments or make objections to the Future Xxxx Center Plant Improvements; provided, however, that Lessor shall have the right to request an extension of the review period if a reasonable analysis of the Future Xxxx Center Plant Improvements by Lessor requires a longer period.
BREP will cause to be performed, and is responsible for the financing and payment of, the design, construction and installation of the Xxxx Center Plant Improvements described in Exhibit “B” attached hereto.
Throughout the Term of this Lease, BREP shall have the right to develop and construct Future Plant Improvements at the Leased Property (“Future Xxxx Center Plant Improvements”).
The Parties agree that any Work relating to Future Xxxx Center Plant Improvements will be completed by BREP using appropriate due diligence and Commercially Reasonable Efforts within a timeframe acceptable to the Parties and designed to minimize disruption and interference to the Xxxx Center Building.
BREP shall provide Notice to Lessor of the desire to build Future Xxxx Center Plant Improvements which Notice shall include (i) a detailed description of the proposed Future Xxxx Center Plant Improvements, (ii) the estimated cost of the Future Xxxx Center Plant Improvements, and (iii) the reason the Future Xxxx Center Plant Improvements are necessary or beneficial to BREP in the provision of Thermal Services to the Xxxx Center Building or similar service to Third Party Off-takers.
The Parties shall cooperate in good faith to allocate the costs of any such Plant Improvements and agree upon payment terms of such allocation if the Plant Improvements have not been previously budgeted by the City and agreed upon by the County as a component of the Wastewater Fee (as that term is defined herein).