Common use of Alterations, Substitutions and Replacements Clause in Contracts

Alterations, Substitutions and Replacements. Lessee, at its expense, may at any time and from time to time make alterations of, and additions to, the Leased Improvements or any part thereof and substitutions and replacements for the same in compliance with all applicable laws (collectively, “Alterations”), provided that (a) the market value of the Leased Property shall not be reduced or its usefulness impaired as a result of said Alterations, (b) the work shall be done expeditiously and in a good and workmanlike manner using new materials of good quality, (c) Lessee shall comply with all Legal Requirements and Insurance Requirements, if any, applicable to the work, (d) no substantial Leased Improvements shall be demolished unless Lessee shall have first furnished Lessor with such surety bonds or other security acceptable to Lessor as shall assure that the cost of rebuilding of such Leased Improvements shall be met, (e) Lessee shall promptly pay all costs and expenses and discharge any and all liens arising in respect of the work and (f) no Alteration shall adversely affect the mechanical, utility, heating, ventilating and air conditioning systems or electrical systems of the Leased Improvements. All Alterations shall immediately become and remain the property of Lessor, shall be deemed part of the Leased Property, and shall be subject to all of the terms and provisions of this Lease. If the Alteration impacts the structural load-bearing components of the Leased Improvements, such Alteration shall be made under the supervision of a qualified and licensed architect or engineer. No Alterations shall be made which would tie in or connect any Leased Improvements on the Leased Property with any other improvements on property adjacent to the Leased Property, except for roads, pavement and utility connections and the like.

Appears in 1 contract

Samples: Lease (Gc Net Lease Reit, Inc.)

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Alterations, Substitutions and Replacements. Lessee, at its expense, may at any time and from time to time make interior, non-structural alterations of, and interior nonstructural additions to, the Leased Improvements or any part thereof and substitutions and replacements for the same in compliance with all applicable laws (collectively, "Alterations"), provided that (a) the market value of the Leased Property shall not be reduced or its usefulness impaired as a result of said Alterationsimpaired, (b) the work shall be done expeditiously and in a good and workmanlike manner using new materials of good quality, (c) the plans and specifications for any single Alteration with an estimated cost in excess of Two Hundred Thousand Dollars ($200,000.00) shall be approved in advance in writing by Lessor and, if required by the terms of Lessor's Indenture, Lessor's Assignees, such approval not to be unreasonably withheld, (d) Lessee shall comply with all Legal Requirements and Insurance Requirements, if any, applicable to the work, (d) no substantial Leased Improvements shall be demolished unless Lessee shall have first furnished Lessor with such surety bonds or other security acceptable to Lessor as shall assure that the cost of rebuilding of such Leased Improvements shall be met, (e) Lessee shall promptly pay all costs and expenses and discharge any and all liens arising in respect of the work and (f) no Alteration shall adversely affect the mechanical, utility, heating, ventilating and air conditioning systems or electrical systems of the Leased Improvements. All Alterations shall immediately become and remain the property of Lessor, shall be deemed part of the Leased Property, and shall be subject to all of the terms and provisions of this Lease. If the Alteration impacts the structural load-bearing components of the Leased Improvements, such Alteration shall be made under the supervision of a qualified and licensed architect or engineer. No Alterations shall be made which would tie in or connect any Leased Improvements on the Leased Property with any other improvements on property adjacent to the Leased Property, except for roads, pavement and utility connections and the like.

Appears in 1 contract

Samples: Lease (Ekco Group Inc /De/)

Alterations, Substitutions and Replacements. Lessee, at its expense, may at any time and from time to time make interior, non-structural alterations of, and interior nonstructural additions to, the Leased Improvements or any part thereof and substitutions and replacements for the same in compliance with all applicable laws (collectively, “Alterations”), provided that (a) the market value of the Leased Property shall not be reduced or its usefulness impaired as a result of said Alterationsimpaired, (b) the work shall be done expeditiously and in a good and workmanlike manner using new materials of good quality, (c) the plans and specifications for any single Alteration with an estimated cost in excess of Two Hundred Thousand Dollars ($200,000.00) shall be approved in advance in writing by Lessor and, if required by the terms of Lessor’s Indenture, Lessor’s Assignees, such approval not to be unreasonably withheld, (d) Lessee shall comply with all Legal Requirements and Insurance Requirements, if any, applicable to the work, (d) no substantial Leased Improvements shall be demolished unless Lessee shall have first furnished Lessor with such surety bonds or other security acceptable to Lessor as shall assure that the cost of rebuilding of such Leased Improvements shall be met, (e) subject to Articles 12 and 13 of this Lease, Lessee shall promptly pay all costs and expenses and discharge any and all liens arising in respect of the work and (f) no Alteration shall adversely affect the mechanical, utility, heating, ventilating and air conditioning systems or electrical systems of the Leased Improvements. All Alterations shall immediately become and remain the property of Lessor, shall be deemed part of the Leased Property, and shall be subject to all of the terms and provisions of this Lease. If the Alteration impacts the structural load-bearing components of the Leased Improvements, such Alteration shall be made under the supervision of a qualified and licensed architect or engineer. No Alterations shall be made which would tie in or connect any Leased Improvements on the Leased Property with any other improvements on property adjacent to the Leased Property. At the time Lessee seeks Lessor’s approval, except Lessee may request that Lessor determine, as a part of its approval, whether the Alteration must be removed and/or the Leased Property be restored. Lessee shall not be obligated to restore Alterations that Lessor, at the time of granting its approval, indicates need not be removed or for roadswhich restoration need not be performed. Subject to the provisions of Article 35, pavement Lessor agrees that Lessee’s right to expand the Building is pre-approved and utility connections and shall not be subject to the likeprovisions of this Section 10.1.

Appears in 1 contract

Samples: Lease (Gc Net Lease Reit, Inc.)

Alterations, Substitutions and Replacements. Lessee, at its expense, may at any time and from time to time make alterations of, and additions to, the Leased Improvements or any part thereof and substitutions and replacements for the same in compliance with all applicable laws (collectively, "Alterations"), provided that (a) the market value of the Leased Property shall not be reduced or its usefulness impaired as a result of said Alterationsimpaired, (b) the work shall be done expeditiously and in a good and workmanlike manner using new materials of good qualitymanner, (c) the plans and specifications for any single Alteration with an estimated cost in excess of $500,000, or, in the case of structural Alterations, $250,000 shall be approved in writing by Lessor, such approval not to be unreasonably withheld; provided, however, that if the Lessee shall not have received either approval or rejection of any such plans and specifications within twenty (20) business days after delivery of the same to Lessor and Lessor's Assignees, if any, such plans and specifications shall be conclusively deemed approved for all purposes hereof, (d) Lessee shall comply with all Legal Requirements and Insurance Requirements, if any, applicable to the work, (d) no substantial Leased Improvements shall be demolished unless Lessee shall have first furnished Lessor with such surety bonds or other security acceptable to Lessor as shall assure that the cost of rebuilding of such Leased Improvements shall be met, and (e) Lessee shall promptly pay all costs and expenses and discharge any and all liens arising in respect of the work and (f) no Alteration shall adversely affect the mechanical, utility, heating, ventilating and air conditioning systems or electrical systems of the Leased Improvementswork. All Alterations shall immediately become and remain the property of Lessor, shall be deemed part of the Leased Property, and shall be subject to all of the terms and provisions of this Lease. If In case the estimated cost of any Alteration impacts exceeds $500,000 or, in the structural load-bearing components case of the Leased ImprovementsStructural Alterations $250,000, such Alteration shall be made under the supervision of a qualified and licensed architect architect, engineer or engineercontractor who shall have been approved in writing by Lessor, which approval shall not be unreasonably withheld. No Alterations shall be made which would tie in or connect any Leased Improvements on the Leased Property with any other improvements on property adjacent to the Leased Property. Provided Lessee is not then in Default under this Lease, except for roadsupon the expiration or earlier termination of the Term hereof, pavement Lessee shall have no obligation to restore the Leased Improvements to their condition existing prior to the making of Alterations permitted by this Section. Notwithstanding the foregoing, Lessor acknowledges and utility connections consents to Lessee making the Alterations to the Leased Property described in Exhibits D-1, D-2A and D-2B annexed hereto, provided that (i) such Alterations are comparable in design and quality of construction as the likeLeased Improvements and (ii) the conditions of clauses (a) - (d), inclusive, above are met. All of the Alterations set forth in Exhibit D-2A shall be completed and a temporary certificate of occupancy covering such Alterations delivered to Lessor's lender CS First Boston Mortgage Capital Corp. ("Lender") prior to April 30, 1997. Lessee agrees to notify Lessor in writing of Lessee's intention to construct any of such Alterations.

Appears in 1 contract

Samples: Master Lease (Quantum Corp /De/)

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Alterations, Substitutions and Replacements. Lessee, at its expense, may at any time and from time to time make alterations of, and additions to, the Leased Improvements or any part thereof and substitutions and replacements for the same in compliance with all applicable laws (collectively, “Alterations”), provided that (a) the market value of the Leased Property shall not be reduced or its usefulness impaired as a result of said Alterationsimpaired, (b) the work shall be done expeditiously and in a good and workmanlike manner using new materials of good quality, (c) the plans and specifications for any single Alteration with an estimated cost in excess of Twenty-Five Thousand Dollars ($25,000.00) shall be approved in advance in writing by Lessor, such approval not to be unreasonably withheld, (d) Lessee shall comply with all Legal Requirements and Insurance Requirements, if any, applicable to the work, (de) no substantial Leased Improvements shall be demolished unless Lessee shall have first furnished Lessor with such surety bonds or other security acceptable to Lessor as shall assure that the cost of rebuilding of such Leased Improvements shall be met, and (ef) Lessee shall promptly pay all costs and expenses and discharge any and all liens arising in respect of the work and (f) no Alteration shall adversely affect the mechanical, utility, heating, ventilating and air conditioning systems or electrical systems of the Leased Improvementswork. All Alterations shall immediately become and remain the property of Lessor, shall be deemed part of the Leased Property, and shall be subject to all of the terms and provisions of this Lease. If In case the estimated cost of any Alteration impacts the structural loadexceeds Twenty-bearing components of the Leased ImprovementsFive Thousand Dollars ($25,000.00), such Alteration shall be made under the supervision of a qualified and licensed architect or engineerengineer who shall have been approved in writing by Lessor, which approval shall not be unreasonably withheld. No Alterations shall be made which would tie in or connect any Leased Improvements on the Leased Property with any other improvements on property adjacent to the Leased Property, except for roads, pavement and utility connections and the like.

Appears in 1 contract

Samples: Lease (Gc Net Lease Reit, Inc.)

Alterations, Substitutions and Replacements. Lessee, at its expense, may at any time and from time to time make interior, non-structural, alterations of, and interior nonstructural additions to, the Leased Improvements or any part thereof and substitutions and replacements for the same in compliance with all applicable laws (collectively, “Alterations”), provided that (a) the market value of the Leased Property shall not be reduced or its usefulness impaired as a result of said Alterationsimpaired, (b) the work shall be done expeditiously and in a good and workmanlike manner using new materials of good quality, (c) the plans and specifications for any single Alteration with an estimated cost in excess of One Hundred Thousand Dollars ($100,000.00) shall be approved in advance in writing by Lessor, such approval not to be unreasonably withheld, (d) Lessee shall comply with all Legal Requirements and Insurance Requirements, if any, applicable to the work, (de) no substantial Leased Improvements shall be demolished unless Lessee shall have first furnished Lessor with such surety bonds or other security acceptable to Lessor as shall assure that the cost of rebuilding of such Leased Improvements shall be met, (ef) Lessee shall promptly pay all costs and expenses and discharge any and all liens arising in respect of the work and (fg) no Alteration shall adversely affect the mechanical, utility, heating, ventilating and air conditioning systems or electrical systems of the Leased Improvements. All Alterations shall immediately become and remain the property of Lessor, shall be deemed part of the Leased Property, and shall be subject to all of the terms and provisions of this Lease. If In case the estimated cost of any Alteration impacts the structural load-bearing components of the Leased Improvementsexceeds One Hundred Thousand Dollars ($100,000.00), such Alteration shall be made under the supervision of a qualified and licensed architect or engineerengineer who shall have been approved in writing by Lessor, which approval shall not be unreasonably withheld. No Alterations shall be made which would tie in or connect any Leased Improvements on the Leased Property with any other improvements on property adjacent to the Leased Property, except for roads, pavement and utility connections and the like.

Appears in 1 contract

Samples: Lease (Gc Net Lease Reit, Inc.)

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