Common use of Condition of Property; Maintenance Clause in Contracts

Condition of Property; Maintenance. Lessee hereby accepts the Property “AS IS” and “WHERE IS” with no representation or warranty of Lessor as to the condition thereof. Lessee shall, at its sole cost and expense, be responsible for (a) keeping all of the Improvements in good order and repair, free from actual or constructive waste, including without limitation, the roof and the HVAC and other electrical and mechanical systems; (b) the repair or reconstruction of any Improvements damaged or destroyed by a Casualty except as otherwise provided in this Lease; (c) subject to Section 7.02, making all necessary structural, non-structural, exterior and interior repairs and replacements to any Improvements, except as otherwise provided in this Lease; and (d) paying all operating costs of the Property in the ordinary course of business. Lessee waives any right to require Lessor to maintain, repair or rebuild all or any part of the Property or make repairs at the expense of Lessor pursuant to any Legal Requirements at any time in effect.

Appears in 3 contracts

Samples: Lease Agreement (Four Corners Property Trust, Inc.), Lease Agreement (Four Corners Property Trust, Inc.), Lease Agreement (Four Corners Property Trust, Inc.)

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Condition of Property; Maintenance. Lessee hereby accepts the Property “AS IS” and “WHERE IS” with no representation or warranty of Lessor as to the condition thereof. Lessee shall, at its sole cost and expense, be responsible for (a) keeping all of the Improvements building, structures and improvements erected on the Property in good order and repair, free from actual or constructive waste, including without limitation, the roof subject to ordinary wear and the HVAC and other electrical and mechanical systemstear; (b) the repair or reconstruction of any Improvements building, structures or improvements erected on the Property damaged or destroyed by a Casualty except as otherwise provided in this LeaseCasualty; and (c) subject to Section 7.02, making all necessary structural, non-structural, exterior and interior repairs and replacements to any Improvementsbuilding, except as otherwise provided in this Lease; and structures or improvements erected on the Property. In the event that necessary repairs may be covered by a construction, manufacturer’s or installer’s Warranty (d) paying all operating costs collectively, “Warranties”), Lessee shall use its best efforts to enforce the terms of the Property in the ordinary course of business. Lessee waives any right to require Lessor to maintain, repair or rebuild all or any part of the Property or make repairs at the expense of Lessor pursuant to any Legal Requirements at any time in effectsuch Warranty.

Appears in 2 contracts

Samples: Lease Agreement (Cardiovascular Systems Inc), Purchase and Sale Agreement (Cardiovascular Systems Inc)

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