Required Condition means returning the Premises and the Project and any other directly affected real or personal property owned by Landlord to a condition that is both (A) required by applicable federal, state or local law, regulation or order, including without limitation, performing any required cleanup, remediation, removal, disposal, neutralization or other treatment of Hazardous Materials, and (B) wherein Landlord’s marketability, use and leasing thereof as commercial properties is not materially impaired. To the fullest extent permitted by law, Tenant shall indemnify, hold harmless, protect and defend (with attorneys reasonably acceptable to Landlord) Landlord and any successors to all or any portion of Landlord’s interest in the Premises and the Project and any other directly affected real or personal property owned by Landlord from and against any and all liabilities, losses, damages, diminution in value, judgments, fines, demands, claims, recoveries, deficiencies, costs and expenses (including without limitation reasonable attorneys’ fees, court costs and other professional expenses), whether foreseeable or unforeseeable, arising directly or indirectly out of the use, generation, storage, treatment, release, on- or off-site disposal or transportation of Hazardous Materials on, into, from, under or about the Premises, the Building or the Project and any other directly affected real or personal property owned by Landlord caused or knowingly permitted by Tenant, its agents, employees, contractors, licensees or invitees (each a “Tenant Party”). Such indemnity obligation shall specifically include, without limitation, the cost of any repair, restoration, cleanup or detoxification of the Premises, the Building and the Project and any other directly affected real or personal property owned by Landlord required or necessary to return same to the Required Condition, the preparation of any closure or other required plans, whether or not such action is required or necessary during the Term or after the expiration of this Lease and any loss of rental due to the inability to lease the Premises or any portion of the Building or Project as a result of such Hazardous Material or remediation thereof. If it is at any time discovered that Hazardous Materials have been released on, into, from, under or about the Premises during the Term by Tenant or any Tenant Party, or that Tenant or any Tenant Party may have caused or knowingly permitted the release of a Hazardous Material on, under,...
Required Condition means the condition of the Facility at any time, including on the Termination Date, that meets the Performance Standard;
Required Condition means this Warrant is valid as follows: none. The Required Condition has been satisfied.
Examples of Required Condition in a sentence
Without limiting the foregoing, Tenant shall promptly make all structural and nonstructural, foreseen and unforeseen, ordinary and extraordinary changes, replacements and repairs of every kind and nature, and correct any patent or latent defects in the Premises, which may be required to put, keep and maintain the Premises in the Required Condition.
In the event the Additional Premises is not ready for delivery to Tenant in the Required Condition on the Additional Premises Delivery Date, then (x) this Amendment and the Lease shall not be void or voidable, (y) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom and (z) the new Basic Annual Rent applicable to the Premises shall be as further described in Section 4.3 of this Amendment.
Subject to delivery in the Required Condition, Tenant accepts the Premises in its condition as of the execution of the Lease, subject to all recorded matters, laws, ordinances, and governmental regulations.
Tenant’s acceptance of the Additional Premises shall be conclusive proof that the Additional Premises was delivered in the Required Condition.
By taking possession of the Premises, Tenant shall be deemed to have agreed that the Premises are in the Required Condition and any alleged defects or deficiencies are waived except for any incomplete punchlist items (“Punch List Work”).
More Definitions of Required Condition
Required Condition means this Warrant is valid as follows: The Required Condition has been satisfied as of April 28, 1995 by the Company's receipt of full payment from Capital Consultants, Inc. pursuant to its Common Stock and Convertible Debenture Purchase Agreement with the Company dated December 29, 1994, as thereafter amended.
Required Condition means (a) if there is no Landlord’s Work, the condition of the Premises on the execution of this Lease, or (b) if there is Landlord’s Work, then the date Landlord’s Work is substantially complete (other than Punch List Work and work that can’t be completed prior to Tenant’s Work). If the Commencement Date is later than the Target Lease Commencement Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. The Term shall be for the number of months set forth in Section 1, plus any partial month in which the Commencement Date occurs. When the Commencement Date has occurred, Landlord will prepare and Tenant will sign an acknowledgement of the Commencement Date, the date(s) that Tenant’s payments of Base Rent and Tenant’s Share of Common Expenses occur, and related information. Any failure by Tenant to sign and return the acknowledgement shall be deemed agreement with its contents. All provisions of this Lease, other than those relating to payment of Base Rent, shall be effective on the earlier of the Commencement Date or the date that Tenant, its agents, contractors or employees are present in the Premises for inspection, construction, fixturing, move-in or similar purposes, subject to any deferral of the commencement of Tenant’s Share of Common Expenses as set forth in Section 1.
Required Condition means (a) if there is no Landlord’s Work, the condition of the Premises on the execution of this Lease, or (b) if there is Landlord’s Work, then the date Landlord’s Work is substantially complete (other than Punch List Work and work that can’t be completed prior to Tenant’s Work). If the Commencement Date is later than March 1, 2014, Tenant shall have the right to terminate the lease provided Tenant reimburses Landlord for all of Landlord’s out-of-pocket expenses incurred in the design, permitting and construction of the Premises thru March 1, 2014. Landlord shall not be liable to Tenant for any loss or damage resulting therefrom. The Term shall be for the number of months set forth in Section 1, plus any partial month in which the Commencement Date occurs. When the Commencement Date has occurred, Landlord will prepare and Tenant will sign an acknowledgement of the Commencement Date, the date(s) that Tenant’s payments of Base Rent and Tenant’s Share of Common Expenses occur, and related information. Any failure by Tenant to sign and return the acknowledgement shall be deemed agreement with its contents. All provisions of this Lease, other than those relating to payment of Base Rent, shall be effective on the earlier of the Commencement Date or the date that Tenant, its agents, contractors or employees are present in the Premises for inspection, construction, fixturing, move-in or similar purposes, subject to any deferral of the commencement of Tenant’s Share of Common Expenses as set forth in Section 1.
Required Condition has the meaning set forth in Section 8.2.
Required Condition means, with respect to a CapEx Contribution Request for an Approved Project and the Project Written Consent relating thereto, the satisfaction of each of the following conditions (as evidenced by supporting data reasonably required by any Funding Member): (A) the information in the Project Written Consent is true and correct in all material respects, (B) the expected completion date of such Approved Project is reasonably expected to be not more than 10% later than the Expected Completion Date, (C) the Approved Project is reasonably expected to be completed in accordance with the Project Budget and at an aggregate cost not greater than 110% of the aggregate cost set forth in the Project Budget, (D) all prior Project Milestones have been met in all material respects, (E) there are no material changes to the contractual arrangements relating to such Approved Project, (F) the projected unlevered return is reasonably expected to be no less than the Project Unlevered Return, (G) there has been no material adverse change in respect of the Approved Project, (H) there is no MHR Default and (I) the absence of any Material Adverse Effect.
Required Condition means, with respect to the Maritime Link, in good operating condition to a standard consistent with having been operated and maintained throughout the Term in accordance with (i) Good Utility Practice for a long-term, low cost, reliable transmission facility with a Service Life equal to the Initial Service Life while maintaining reliable operation consistent with the ML Basis of Design, (ii) the Long Term Asset Management Plan for the Maritime Link, and (iii) the O&M Standards;
Required Condition means the condition of the Pelletizer Facility, in at least a first class state of repair, that meets or exceeds the state and condition of the Pelletizer Facility on the Effective Date, except for normal wear and tear and abandoned equipment, as provided in this Agreement.