Common use of Alterations and Expansions Clause in Contracts

Alterations and Expansions. Tenant shall not make or permit any alterations or improvements in, on or about the Leased Premises without the prior written consent of Landlord, which consent shall not be unreasonably withheld, but may be conditioned. If any improvements and/or alterations are approved by Landlord, Tenant shall submit all plans and specifications relating to such to Landlord for review and approval prior to commencement of such improvements and/or alterations. Tenant covenants and agrees that all improvements and alterations done hereunder shall be in a good and workmanlike manner, and otherwise in accordance with the terms of this Lease and the Governing Documents for the Resort. Further, Tenant represents that all improvements and alterations shall be completed within ninety (90) days from the execution of this Lease, and shall not materially interfere with the use and enjoyment of the Leased Premises or the Resort by the owners, guests and invitees at the Resort. All permitted alterations, additions or improvements shall be installed at Tenant's sole cost and expense, and in compliance with all applicable laws, ordinances, regulations, building and fire codes. All structural alterations additions and improvements must be performed by a licensed contractor according to plans and specifications approved in writing by Landlord, which approval may be withheld or conditioned for any or no reason. It is understood and agreed by Tenant that any and all alterations, additions or improvements and/or fixtures placed in or upon the Leased Premises by Tenant, or that are affixed so that they cannot be removed without material damage to any part of the Leased Premises, shall be deemed to be a part of the Leased Premises and not trade fixtures, and shall be surrendered with the Leased Premises upon termination of this Lease. The immediately preceding sentence shall not apply to Tenant's Equipment to the extent that such may be removed without material damage to any part of the Leased Premises. Landlord shall have no obligation to reimburse Tenant for any costs associated with any such alterations, additions, improvements or fixtures surrendered with the Leased Premises. Tenant covenants to keep the Leased Premises free from any liens arising out of any work performed, materials furnished or obligations incurred by Tenant. Tenant shall cause, at its sole cost and expense, any such lien imposed to be released of record within ten (10) days after imposition of the lien or upon written request of Landlord. Tenant shall further indemnify and hold Landlord harmless from and against any cost, expense, liability, demand, violation, loss or action arising from or in connection with any and all work performed by Tenant at the Leased Premises, including without limitation, any liens arising from the same. Provided Tenant causes any lien to be released within such ten (10) day period, nothing in this Section shall be construed as to prohibit Tenant from contesting any lien or amount claimed thereunder which Tenant deems objectionable.

Appears in 2 contracts

Samples: Assignment of Lease Agreement (Kisses From Italy, Inc.), Assignment of Lease Agreement (Kisses From Italy, Inc.)

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Alterations and Expansions. Tenant During the continuance of a Cash Trap Period or Event of Default, Borrower shall not make perform or permit contract to perform any alterations Capital Expenditures that are not consistent with the Approved Annual Budget. Borrower shall not perform or improvements in, on or about the Leased Premises contract to perform any Material Alteration without the prior written consent of LandlordLender, which consent (in the absence of an Event of Default) shall not be unreasonably withheld, but may be conditioned. If provided that Borrower shall promptly deliver to Lender, at Borrower's option, any improvements and/or alterations are approved by Landlord, Tenant shall submit all plans and specifications relating to such to Landlord one or more of the following as security for review and approval prior to commencement the payment of such improvements and/or alterationsMaterial Alterations and as additional security for Borrower's obligations under the Loan Documents any of the following: (A) cash, (B) Qualified Letters of Credit, (C) other securities acceptable to Lender, provided that Lender shall have received a Rating Agency Confirmation as to the form and issuer of same, (D) a completion bond, provided that Lender shall have received a Rating Agency Confirmation as to the form and issuer of same or (E) a Qualified Guarantee (any of the foregoing, "Alteration Security"). Tenant covenants and agrees that all improvements and alterations done hereunder The amount of the Alteration Security shall be in a good and workmanlike manneran amount (the "Excess Alteration Amount") equal to the excess of the total unpaid amounts to be incurred with respect to such Material Alterations (other than such amounts to be paid or reimbursed by Tenants under the Leases) over the Alteration Threshold, and otherwise which required amount shall be reduced as such Material Alteration progresses in accordance an amount which is commensurate with the terms of this Lease and amount expended in connection with such Material Alteration. If Lender's consent is requested hereunder with respect to a Material Alteration, Lender may retain a construction consultant to review such request and, if such request is granted, Lender may retain a construction consultant to inspect the Governing Documents work from time to time. Borrower shall, on demand by Lender, reimburse Lender for the Resortreasonable fees and disbursements of such consultant. FurtherNotwithstanding anything contained herein to the contrary, Tenant represents that so long as no Event of Default has occurred and is continuing, Borrower, without Lender's prior consent, may perform any Alteration (other than a Material Alteration) so long as the Alteration will not have a Material Adverse Effect on the value, use or operation of the Property. Any and all improvements and alterations Alterations shall be completed within ninety (90) days from the execution of this Lease, and shall not materially interfere with the use and enjoyment of the Leased Premises or the Resort by the owners, guests and invitees at the Resort. All permitted alterations, additions or improvements shall be installed at Tenant's sole cost and expense, and performed in compliance with all applicable laws, ordinances, regulations, building Legal Requirements in a manner that does not significantly disrupt the business conducted at the Property. The Association and fire codes. All structural alterations additions and improvements must the Tenants shall be performed by a licensed contractor according permitted to plans and specifications approved in writing by Landlord, which approval may be withheld or conditioned for any or no reason. It is understood and agreed by Tenant that any and all alterations, additions or improvements and/or fixtures placed in or upon perform Alterations pursuant to the Leased Premises by Tenant, or that are affixed so that they cannot be removed without material damage to any part terms of the Leased PremisesCondominium Documents and the Leases, shall be deemed to be a part of the Leased Premises and not trade fixtures, and shall be surrendered with the Leased Premises upon termination of this Lease. The immediately preceding sentence shall not apply to Tenant's Equipment to the extent that such may be removed without material damage to any part of the Leased Premises. Landlord shall have no obligation to reimburse Tenant for any costs associated with any such alterations, additions, improvements or fixtures surrendered with the Leased Premises. Tenant covenants to keep the Leased Premises free from any liens arising out of any work performed, materials furnished or obligations incurred by Tenant. Tenant shall cause, at its sole cost and expense, any such lien imposed to be released of record within ten (10) days after imposition of the lien or upon written request of Landlord. Tenant shall further indemnify and hold Landlord harmless from and against any cost, expense, liability, demand, violation, loss or action arising from or in connection with any and all work performed by Tenant at the Leased Premises, including without limitation, any liens arising from the same. Provided Tenant causes any lien to be released within such ten (10) day period, nothing in this Section shall be construed as to prohibit Tenant from contesting any lien or amount claimed thereunder which Tenant deems objectionablerespectively.

Appears in 1 contract

Samples: Loan Agreement (Alexanders Inc)

Alterations and Expansions. Tenant During the continuance of any Cash Flow Sweep Period or Event of Default, Borrower shall not make incur or permit contract to incur any alterations capital improvements requiring Capital Expenditures that are not consistent with the Approved Annual Budget (it being understood that Borrower may complete all capital improvements required to be made under Leases entered into in accordance with the terms of this Agreement). Borrower shall not perform, undertake, contract to perform or improvements in, on or about the Leased Premises consent to any Material Alteration without the prior written consent of LandlordLender, which consent (in the absence of a Cash Flow Sweep Period or 102 an Event of Default) shall not be unreasonably withheld, delayed or conditioned, but may be conditioned on the delivery of additional collateral in the form of cash or cash equivalents acceptable to Lender; provided, that, if the cost of the Material Alteration does not exceed $27,000,000.00 (in the aggregate), in lieu of delivering cash collateral Guarantor may execute and deliver a completion guaranty in form and substance acceptable to Lender and Guarantor pursuant to which Guarantor will guaranty the completion of the Material Alteration on the terms set forth in the completion guaranty. If Lender’s consent is requested hereunder with respect to a Material Alteration, Lender may retain a construction consultant to review such request and, if such request is granted, Lender may retain a construction consultant to inspect the work from time to time. Borrower shall, on demand by Lender, reimburse Lender for the reasonable fees and disbursements of such consultant. Notwithstanding the foregoing, in the event that Borrower is required to perform and/or pay the cost of any renovation of the retail atrium located between the Property and that certain property commonly known as Xxxxx Fargo Center – North and located at 000 Xxxxx Xxxxx Xxxxxx, Xxx Xxxxxxx, Xxxxxxxxxx, Lender’s consent shall be required for any such payment or performance by Borrower, which consent shall not be unreasonably withheld, but may be conditioned. If any improvements and/or alterations are approved by Landlord, Tenant shall submit all plans and specifications relating to such to Landlord for review and approval prior to commencement of such improvements and/or alterations. Tenant covenants and agrees that all improvements and alterations done hereunder shall be in a good and workmanlike manner, and otherwise in accordance with the terms of this Lease and the Governing Documents for the Resort. Further, Tenant represents that all improvements and alterations shall be completed within ninety (90) days from the execution of this Lease, and shall not materially interfere with the use and enjoyment of the Leased Premises conditioned or the Resort by the owners, guests and invitees at the Resort. All permitted alterations, additions or improvements shall be installed at Tenant's sole cost and expense, and in compliance with all applicable laws, ordinances, regulations, building and fire codes. All structural alterations additions and improvements must be performed by a licensed contractor according to plans and specifications approved in writing by Landlord, which approval may be withheld or conditioned for any or no reason. It is understood and agreed by Tenant that any and all alterations, additions or improvements and/or fixtures placed in or upon the Leased Premises by Tenant, or that are affixed so that they cannot be removed without material damage to any part of the Leased Premises, shall be deemed to be a part of the Leased Premises and not trade fixtures, and shall be surrendered with the Leased Premises upon termination of this Lease. The immediately preceding sentence shall not apply to Tenant's Equipment to the extent that such may be removed without material damage to any part of the Leased Premises. Landlord shall have no obligation to reimburse Tenant for any costs associated with any such alterations, additions, improvements or fixtures surrendered with the Leased Premises. Tenant covenants to keep the Leased Premises free from any liens arising out of any work performed, materials furnished or obligations incurred by Tenant. Tenant shall cause, at its sole cost and expense, any such lien imposed to be released of record within ten (10) days after imposition of the lien or upon written request of Landlord. Tenant shall further indemnify and hold Landlord harmless from and against any cost, expense, liability, demand, violation, loss or action arising from or in connection with any and all work performed by Tenant at the Leased Premises, including without limitation, any liens arising from the same. Provided Tenant causes any lien to be released within such ten (10) day period, nothing in this Section shall be construed as to prohibit Tenant from contesting any lien or amount claimed thereunder which Tenant deems objectionabledelayed.

Appears in 1 contract

Samples: Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.)

Alterations and Expansions. Tenant During the continuance of an Event of Default, Borrower shall not make perform or permit contract to perform any alterations Capital Expenditures that are not consistent with the Approved Annual Capital Expenditure Budget. Borrower shall not perform or improvements in, on or about the Leased Premises contract to perform any Material Alteration without the prior written consent of LandlordLender, which consent (in the absence of an Event of Default) shall not be unreasonably withheld, but may be delayed or conditioned. If any improvements and/or alterations are approved by Landlord, Tenant shall submit all plans and specifications relating Any request for Lender’s consent pursuant to such to Landlord for review and approval prior to commencement of such improvements and/or alterations. Tenant covenants and agrees that all improvements and alterations done hereunder this Section 6.13 shall be submitted to Lender in an envelope marked “URGENT – LENDER’S ATTENTION REQUIRED WITHIN 10 BUSINESS DAYS”, together with a good and workmanlike manner, and otherwise in accordance with the terms of this Lease and the Governing Documents for the Resort. Further, Tenant represents that all improvements and alterations shall be completed within ninety (90) days from the execution of this Lease, and shall not materially interfere with the use and enjoyment detailed description of the Leased Premises or the Resort by the owners, guests request for which Lender’s consent is sought and invitees at the Resort. All permitted alterations, additions or improvements shall be installed at Tenant's sole cost and expense, and in compliance with all applicable laws, ordinances, regulations, building and fire codes. All structural alterations additions and improvements must be performed by a licensed contractor according any documentation needed for Lender to plans and specifications approved in writing by Landlord, which approval may be withheld or conditioned for any or no reason. It is understood and agreed by Tenant that any and all alterations, additions or improvements and/or fixtures placed in or upon the Leased Premises by Tenant, or that are affixed so that they cannot be removed without material damage to any part of the Leased Premises, shall be deemed to be a part of the Leased Premises and not trade fixturesevaluate such request, and shall be surrendered with the Leased Premises upon termination of this Lease. The immediately preceding sentence deemed approved if Lender shall not apply to Tenant's Equipment to have notified Borrower in writing of its disapproval thereof and the extent that reasons for such may be removed without material damage to any part of the Leased Premises. Landlord disapproval within five Business Days after Borrower shall have no obligation to reimburse Tenant for any costs associated with any given Lender written notice confirming that at least ten Business Days have elapsed since such alterationssubmission, additions, improvements or fixtures surrendered with the Leased Premises. Tenant covenants to keep the Leased Premises free from any liens arising out of any work performed, materials furnished or obligations incurred by Tenant. Tenant shall cause, at its sole cost and expense, any such lien imposed to be released of record within ten (10) days after imposition of the lien or upon which written request of Landlord. Tenant shall further indemnify and hold Landlord harmless from and against any cost, expense, liability, demand, violation, loss or action arising from or in connection with any and all work performed by Tenant at the Leased Premises, including without limitation, any liens arising from the same. Provided Tenant causes any lien to be released within such ten (10) day period, nothing in this Section notice shall be construed as submitted to prohibit Tenant Lender in an envelope marked “URGENT – SECOND AND FINAL NOTICE – LENDER’S ATTENTION REQUIRED BY [DATE]”). If Lender’s consent is requested hereunder with respect to a Material Alteration, Lender may retain a construction consultant reasonably acceptable to Borrower to review such request and, if such request is granted, Lender may retain a construction consultant reasonably acceptable to Borrower to inspect the work from contesting any lien or amount claimed thereunder which Tenant deems objectionable.time to time. Borrower shall, on demand by Lender, reimburse Lender for the reasonable fees and disbursements of such consultant. 101

Appears in 1 contract

Samples: Management Agreement (American Casino & Entertainment Properties LLC)

Alterations and Expansions. Tenant Upon the occurrence and during the continuance of any Trigger Period or Event of Default, Borrower shall not make perform or permit contract to perform any alterations capital improvements requiring Capital Expenditures that are not consistent with the Approved Annual Budget. Borrower shall not perform, undertake, contract to perform or improvements in, on or about the Leased Premises consent to any Material Alteration without the prior written consent of LandlordLender, which consent (in the absence of an Event of Default) shall not be unreasonably withheld, but may be conditioned. If Lender’s consent is requested hereunder with respect to a Material Alteration, Lender may retain a construction consultant to review such request and, if such request is granted, Lender may retain a construction consultant to inspect the work from time to time. Borrower shall, on demand by Lender, reimburse Lender for the reasonable fees and disbursements of such consultant. If the total unpaid amounts due and payable with respect to alterations to the improvements at any improvements and/or alterations are approved Property (other than such amounts to be paid or reimbursed by Landlord, Tenant tenants under the Leases) shall submit all plans and specifications relating at any time exceed the greater of five percent (5%) of the Allocated Loan Amount with respect to such Property or $100,000 (the “Alteration Threshold Amount”), Borrower shall promptly deliver to Landlord Lender as security for review and approval prior to commencement the payment of such improvements amounts and as additional security for Borrower’s obligations under the Loan Documents any of the following as determined by Borrower: (A) cash, (B) non-redeemable securities evidencing an obligation to timely pay principal and/or alterations. Tenant covenants and agrees that all improvements and alterations done hereunder shall be interest in a good full and workmanlike manner, and otherwise in accordance with timely manner that are direct obligations of the terms United States of this Lease and the Governing Documents America for the Resort. Furtherpayment of which its full faith and credit is pledged, Tenant represents (C) other securities having a rating acceptable to Lender and that all improvements the applicable Rating Agencies have confirmed in writing will not, in and alterations shall be completed within ninety (90) days from the execution of this Leaseitself, and shall not materially interfere with the use and enjoyment result in a downgrade, withdrawal or qualification of the Leased Premises or the Resort by the owners, guests and invitees at the Resort. All permitted alterations, additions or improvements shall be installed at Tenant's sole cost and expense, and in compliance with all applicable laws, ordinances, regulations, building and fire codes. All structural alterations additions and improvements must be performed by a licensed contractor according to plans and specifications approved in writing by Landlord, which approval may be withheld or conditioned for any or no reason. It is understood and agreed by Tenant that any and all alterations, additions or improvements and/or fixtures placed in or upon the Leased Premises by Tenant, or that are affixed so that they cannot be removed without material damage to any part of the Leased Premises, shall be deemed to be a part of the Leased Premises and not trade fixtures, and shall be surrendered with the Leased Premises upon termination of this Lease. The immediately preceding sentence shall not apply to Tenant's Equipment to the extent that such may be removed without material damage to any part of the Leased Premises. Landlord shall have no obligation to reimburse Tenant for any costs associated with any such alterations, additions, improvements or fixtures surrendered with the Leased Premises. Tenant covenants to keep the Leased Premises free from any liens arising out of any work performed, materials furnished or obligations incurred by Tenant. Tenant shall cause, at its sole cost and expense, any such lien imposed to be released of record within ten (10) days after imposition of the lien or upon written request of Landlord. Tenant shall further indemnify and hold Landlord harmless from and against any cost, expense, liability, demand, violation, loss or action arising from or Certificates in connection with any Securitization, (D) a Letter of Credit, or (E) a completion and all work performed performance bond issued by Tenant an Eligible Institution. Such security shall be in an amount equal to the excess of the total unpaid amounts with respect to alterations to the improvements on the applicable Property (other than such amounts to be paid or reimbursed by tenants under the Leases) over the Alteration Threshold Amount and upon the occurrence and during the continuance of an Event of Default, Lender may apply such security from time to time at the Leased Premises, including without limitation, any liens arising from the same. Provided Tenant causes any lien option of Lender to be released within pay for such ten (10) day period, nothing in this Section shall be construed as to prohibit Tenant from contesting any lien or amount claimed thereunder which Tenant deems objectionablealterations.

Appears in 1 contract

Samples: Loan Agreement (Cole Credit Property Trust III, Inc.)

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Alterations and Expansions. Tenant Borrower shall not make perform or permit contract to perform any alterations or improvements in, on or about the Leased Premises Material Alteration without the prior written consent of LandlordAdministrative Agent (as directed by the Required Lenders), which consent shall not to be unreasonably withheld, but may be conditioned. If any improvements and/or alterations are approved by Landlorddelayed or conditioned (in the absence of an Event of Default); provided, Tenant shall submit all plans and specifications relating to however, that no such to Landlord for review and approval prior to commencement of such improvements and/or alterations. Tenant covenants and agrees that all improvements and alterations done hereunder consent shall be in required with respect to a good and workmanlike manner, and otherwise in accordance with Material Alteration that is part of a renovation of the terms gaming floor or a renovation of the guest rooms at the Stratosphere Property. Any request for Administrative Agent’s consent pursuant to this Lease and the Governing Documents for the Resort. Further, Tenant represents that all improvements and alterations Section 6.13 shall be completed within ninety (90) days from the execution of this Leasesubmitted to Administrative Agent in an envelope marked “URGENT — LENDER’S ATTENTION REQUIRED WITHIN 10 BUSINESS DAYS”, and shall not materially interfere together with the use and enjoyment a detailed description of the Leased Premises or the Resort by the owners, guests request for which Administrative Agent’s 106 consent is sought and invitees at the Resort. All permitted alterations, additions or improvements shall be installed at Tenant's sole cost and expense, and in compliance with all applicable laws, ordinances, regulations, building and fire codes. All structural alterations additions and improvements must be performed by a licensed contractor according any documentation needed for Administrative Agent to plans and specifications approved in writing by Landlord, which approval may be withheld or conditioned for any or no reason. It is understood and agreed by Tenant that any and all alterations, additions or improvements and/or fixtures placed in or upon the Leased Premises by Tenant, or that are affixed so that they cannot be removed without material damage to any part of the Leased Premises, shall be deemed to be a part of the Leased Premises and not trade fixturesevaluate such request, and shall be surrendered with the Leased Premises upon termination of this Lease. The immediately preceding sentence deemed approved if Administrative Agent shall not apply to Tenant's Equipment to have notified Borrower in writing of its disapproval thereof and the extent that reasons for such may be removed without material damage to any part of the Leased Premises. Landlord disapproval within five Business Days after Borrower shall have no obligation given Administrative Agent written notice confirming that at least ten Business Days have elapsed since such submission, which written notice shall be submitted to reimburse Tenant for Administrative Agent in an envelope marked “URGENT — SECOND AND FINAL NOTICE — LENDER’S ATTENTION REQUIRED BY [DATE]”). As a condition to commencing any costs associated with any such alterationsMaterial Alteration permitted pursuant to this Section 6.13 (including, additions, improvements or fixtures surrendered with the Leased Premises. Tenant covenants to keep the Leased Premises free from any liens arising out of any work performed, materials furnished or obligations incurred by Tenant. Tenant shall cause, at its sole cost and expense, any such lien imposed to be released of record within ten (10) days after imposition of the lien or upon written request of Landlord. Tenant shall further indemnify and hold Landlord harmless from and against any cost, expense, liability, demand, violation, loss or action arising from or in connection with any and all work performed by Tenant at the Leased Premises, including without limitation, any liens arising from a Material Alteration that is part of a renovation of the gaming floor or a renovation of the guest rooms at the Stratosphere Property), Borrower shall deliver to Lender an Officer’s Certificate stating that the cost of such renovation and certifying that Borrower has sufficient funds to complete the same. Provided Tenant causes any lien If Administrative Agent’s consent is requested hereunder with respect to be released within a Material Alteration, Administrative Agent may retain a construction consultant reasonably acceptable to Borrower to review such ten (10) day periodrequest and, nothing in this Section shall be construed as if such request is granted, Administrative Agent may retain a construction consultant reasonably acceptable to prohibit Tenant Borrower to inspect the work from contesting any lien or amount claimed thereunder which Tenant deems objectionabletime to time. Borrower shall, on demand by Administrative Agent, reimburse Administrative Agent for the reasonable fees and disbursements of such consultant.

Appears in 1 contract

Samples: Management Agreement (American Casino & Entertainment Properties LLC)

Alterations and Expansions. A. Tenant may at its expense and without Landlord's prior written consent, make any replacements or alterations to the Premises and may expand the existing Improvements or construct additional Improvements on the Land (an "Expansion"), provided, that (i) the fair market value of the Premises shall not make or permit any alterations or improvements inbe lessened thereby, on or about and (ii) no structural elements of the Leased Premises Improvements shall be demolished without the obtaining Landlord's prior written consent of Landlordconsent, which consent shall not be unreasonably withheld, but conditioned, or delayed, and (iii) such replacements, alterations and/or Expansions will not adversely affect the structure or the safety of the Improvements, or adversely affect the electrical, heating, ventilating, air-conditioning, plumbing or mechanical systems or the functioning thereof. Landlord has the right to require from Tenant assurances, reasonably acceptable to Landlord, to be delivered to Landlord prior to the commencement of any work, that Tenant will fully perform and complete its Expansion, free and clear of any mechanics' and materialmen's liens. Tenant shall procure at its own expense such governmental approvals and permits as may be conditionedrequired for any alterations made by Tenant. If At Tenant's expense, Landlord shall join in submitting Tenant's plans for any improvements and/or alterations are approved necessary governmental approval, if required by LandlordLegal Requirements. All such construction, alterations, and maintenance work done by, or for, Tenant shall submit comply with all plans Legal Requirements and specifications relating to such to Landlord for review and approval prior to commencement of such improvements and/or alterations. Tenant covenants and agrees that all improvements and alterations done hereunder shall Insurance Requirements, be completed in a good and workmanlike mannermanner and with reasonable diligence, and otherwise will be completed in all material respects in accordance with the terms of this Lease and the Governing Documents for the Resort. Further, Tenant represents that all improvements and alterations shall be completed within ninety (90) days from the execution of this Lease, and shall not materially interfere with the use and enjoyment of the Leased Premises or the Resort by the owners, guests and invitees at the Resort. All permitted alterations, additions or improvements shall be installed at Tenant's sole cost and expense, and in compliance with all applicable laws, ordinances, regulations, building and fire codes. All structural alterations additions and improvements must be performed plans prepared by a licensed contractor according to architect. In the event any Expansion will cost more than One Million Dollars ($1,000,000), adjusted by the GDP Deflator, (w) Tenant shall furnish Landlord with the plans and specifications approved in writing therefor prior to commencing work, (x) the contractor selected by Tenant to perform the work shall be subject to Landlord's approval, which approval may shall not be withheld unreasonably withheld, conditioned, or conditioned for delayed, (y) Tenant shall carry builder's risk insurance in amounts reasonably sufficient to cover the cost of replacement of the work during the course of such construction, and (z) upon the request of Landlord or any Mortgagee, provide appropriate securities, completion bonds, or no reasonlike reasonable assurances that construction will be completed. It is understood and agreed by Tenant that shall also furnish Landlord with copies of any and all alterations, additions final plans and specifications (including all changes and modifications thereto) and all necessary governmental permits prepared or improvements and/or fixtures placed in issued for all alterations (whether or upon the Leased Premises by Tenant, or that are affixed so that they cannot be removed without material damage to any part of the Leased Premises, shall be deemed to be a part of the Leased Premises and not trade fixtures, and shall be surrendered with the Leased Premises upon termination of this Lease. The immediately preceding sentence shall not apply to TenantLandlord's Equipment to the extent that such may be removed without material damage to any part of the Leased Premises. Landlord shall have no obligation to reimburse Tenant for any costs associated with any such alterations, additions, improvements or fixtures surrendered with the Leased Premises. Tenant covenants to keep the Leased Premises free from any liens arising out of any work performed, materials furnished or obligations incurred by Tenant. Tenant shall cause, at its sole cost and expense, any such lien imposed to be released of record within ten (10) days after imposition of the lien or upon written request of Landlord. Tenant shall further indemnify and hold Landlord harmless from and against any cost, expense, liability, demand, violation, loss or action arising from or consent was required in connection with any and all work performed by Tenant at the Leased Premises, including without limitation, any liens arising from the same. Provided Tenant causes any lien to be released within such ten (10) day period, nothing in this Section shall be construed as to prohibit Tenant from contesting any lien or amount claimed thereunder which Tenant deems objectionablealterations).

Appears in 1 contract

Samples: Facilities Lease Agreement (Senior Housing Properties Trust)

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