Common use of Demolition Account Clause in Contracts

Demolition Account. (a) At least five (5) years prior to the expiration of this Lease, Landlord shall notify Tenant if the Improvements are to remain at the expiration of the Lease or be demolished by Tenant upon Lease expiration as set forth in Section 2.12.1. If Landlord notifies Tenant that the Improvements are to be demolished, then the Demolition Account shall be established by Tenant and used to pay for Tenant’s obligations to demolish the improvements upon expiration or earlier termination of this Lease. Tenant shall maintain the Improvements until they are demolished in accordance with the requirements of this Lease.

Demolition Account. (a) At least five (5) years prior to the expiration of this Lease, Landlord shall notify Tenant if the Improvements are to remain at the expiration of the Lease or be demolished by Tenant upon Lease expiration as set forth in Section 2.12.116.2.1. If Landlord notifies Tenant that the Improvements are to be demolished, then the Demolition Account shall be established by Tenant and used to pay for Tenant’s obligations to demolish the improvements upon expiration or earlier termination of this Lease. Tenant shall maintain the Improvements until they are demolished in accordance with the requirements of this Lease.