Leased FF&E Clause Samples
The 'Leased FF&E' clause defines the treatment of furniture, fixtures, and equipment (FF&E) that are not owned outright by the landlord or tenant but are instead leased from third parties. This clause typically outlines which items are considered leased FF&E, who is responsible for maintaining lease payments, and how these items are handled at the end of the lease term or upon termination. For example, it may specify that certain office equipment or appliances are subject to separate lease agreements and are not included in the property transfer. The core function of this clause is to clarify ownership and responsibility for leased assets, preventing disputes over property rights and financial obligations related to FF&E during and after the lease.
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Leased FF&E. In connection with this Sublease, Sublandlord hereby leases to Subtenant (i) all of the furniture, fixtures, and equipment and similar property located in the Premises as of the date hereof (including, without limitation, chairs, desks, conference and other tables, computers, printers, monitors, video and presentation equipment, trade-show equipment, training equipment, telephone equipment, and lab equipment but excluding all mailroom equipment and all of the training equipment and furniture in the training room that is shared by Sublandlord and Subtenant as set forth in Section 10.1 hereof) (hereinafter collectively referred to as the “On-Site FF&E”), and (ii) that certain hosting equipment currently located at , Lithia Springs, Georgia, which hosting equipment is referenced in or contemplated by that certain Agreement dated by and between -5- Sublandlord and IBM (collectively, the “Off-Site Hosting Equipment”) (the On-Site FF&E and the Off-Site Hosting Equipment are herein collectively referred to as the “Leased FF&E”; Exhibit “A” attached hereto and incorporated herein is intended to describe and list the Leased FF&E, it being acknowledged and agreed, however, that although the parties have attempted to prepare Exhibit “A” to accurately reflect the items included in the Leased FF&E, the parties acknowledge that it may not be entirely accurate, that the Leased FF&E is intended to include all of the property described in clauses (i) and (ii) of this sentence, and that in the event of any dispute or disagreement regarding the accuracy of Exhibit “A”, the parties shall act reasonably and in good faith in order to resolve such dispute or disagreement). Subtenant agrees to maintain, or cause to be maintained, the Leased FF&E in good condition and repair throughout the term of this Sublease, subject to normal wear and tear, casualty, and obsolescence, and, subject to the next paragraph, to return the Leased FF&E to Sublandlord on or before the Termination Date. The leasing of such Leased FF&E shall be deemed included in the rent otherwise payable hereunder by Subtenant, and Subtenant shall not be obligated to pay any base rental, additional rent, or other charge or fee in connection with the use or leasing of such Leased FF&E. During that portion of the term of this Sublease occurring prior to the third anniversary of the Delivery Date, by giving written notice to Sublandlord, Subtenant may purchase all or any portion of the Leased FF&E (other than chairs, des...
Leased FF&E. “Leased FF&E” means each item of FF&E that is subject to an Equipment Lease.
