Examples of Required Replacements in a sentence
September 2020ISIN no: GB00B0D5V538JSE Share Code: RAV(“Raven Property” or the “Company”) Dear Shareholder, TENDER OFFER The Company has today published on its website a circular and notice of General Meeting to be held at the offices of the Company, Second Floor, La Vieille Cour, La Plaiderie, St Peter Port, Guernsey GY1 6EH on 29 September 2020 at 11.30 a.m. (together the “Circular”).
In lieu of a full verification inspection, you must exercise sound credit judgment in determining: • if all Completion/Repairs, Required Replacements, and/or Casualty Restorations were completed satisfactorily; and• whether to release escrowed funds.
Lessee agrees on the last day of the Lease Term, or on the sooner termination of this Lease, to surrender the Premises to Lessor in Good Condition and Repair “Good Condition and Repair” shall generally mean that the Premises are in the condition that one would expect the Premises to be in, if throughout the Lease Term Lessee (i) uses and maintains the Premises in a commercially reasonable manner and in an accordance with the requirements of this Lease and (ii) makes all Required Replacements.
Notwithstanding the foregoing, Seller shall be entitled to a credit at Closing for the cost of reimbursable Required Replacements (as defined in the Assumed Loan documents) made to the Hotel but for which Seller has not been reimbursed by the Lender from the Replacement Reserve Account.
Seller shall provide Buyer with supporting documentation that in Buyer’s reasonable discretion evidences such non-reimbursed Required Replacements.
Notwithstanding anything to the contrary contained above in this Section 7.3, “Heat and Air Conditioning.”, or elsewhere in this Lease, the following relating to the condition of HVAC Systems upon delivery and Required Replacements (as defined below) shall apply with respect to HVAC Systems.
Subtenant shall, at its sole cost and expense keep, repair and maintain the interior of the Sublease Premises in Good Condition and Repair, including, but not limited to, the interior walls and floors of all offices and other interior areas, doors and door closures, all lighting systems, temperature control systems, plumbing systems, and the existing approximately 20,000 square foot clean room, including any Required Replacements.
Lessee acknowledges that it accepts the existing FF&E in “as is where is” condition, and Lessee is solely responsible for all maintenance, repairs and Required Replacements as defined herein.
Instead, "Good Condition and Repair" shall generally mean that the Premises are in the condition that one would expect the Premises (as Substantially Completed by Lessor) to be in, if throughout the Lease Term Lessee (i) uses and maintains the Premises in a commercially reasonable manner and in accordance with the requirements of this Lease and (ii) makes all Required Replacements.