Common use of Maintenance and Repairs by Tenant Clause in Contracts

Maintenance and Repairs by Tenant. Subject to Tenant's rights under this Lease including, without limitation, Article 5 and Article 8, and Landlord's obligations under this Lease including, without limitation, the provisions of Section 6.3, Tenant shall maintain the Premises including, without limitation, the roof (but excluding the structural support components thereof) and the sidewalks and curbs around the Premises in good order, repair, and condition at all times. In connection with Tenant's maintenance of the roof of the Premises, if Tenant replaces any portion of the roof then such replaced portion shall be deemed by the parties hereto to have a useful life equal to ten years from the date of completion of such replacement ("Completion Date"). Except as to any Tenant New Improvements (as defined in Section 6.3), in the event Tenant has replaced any portion of the roof of the Premises and prior to the end of the ten-year useful life of such replace portion Tenant has exercised its right to terminate this Lease in accordance with the provisions contained herein, then Landlord shall pay to Tenant on the date that this Lease is terminated an amount equal to the cost of such replaced portion of the roof times a fraction, the numerator of which is 120 minus the number of months from the Completion Date to the date this Lease is terminated, and the denominator of which is 120.

Appears in 4 contracts

Samples: Lease Agreement (Group 1 Automotive Inc), Lease Agreement (Group 1 Automotive Inc), Lease Agreement (Group 1 Automotive Inc)

AutoNDA by SimpleDocs

Maintenance and Repairs by Tenant. Subject to Tenant's ’s rights under this Lease including, without limitation, Article 5 and Article 8, and Landlord's ’s obligations under this Lease including, without limitation, the provisions of Section 6.3, Tenant shall maintain the Premises including, without limitation, the roof (but excluding the structural support components thereof) and the sidewalks and curbs around the Premises in good order, repair, and condition at all times. In connection with Tenant's ’s maintenance of the roof of the Premises, if Tenant replaces any portion of the roof then such replaced portion shall be deemed by the parties hereto to have a useful life equal to ten years from the date of completion of such replacement ("Completion Date"). Except as to any Tenant New Improvements (as defined in Section 6.3), in the event Tenant has replaced any portion of the roof of the Premises and prior to the end of the ten-year useful life of such replace portion Tenant has exercised its right to terminate this Lease in accordance with the provisions contained herein, then Landlord shall pay to Tenant on the date that this Lease is terminated an amount equal to the cost of such replaced portion of the roof times a fraction, the numerator of which is 120 minus the number of months from the Completion Date to the date this Lease is terminated, and the denominator of which is 120.

Appears in 1 contract

Samples: Lease Agreement (Group 1 Automotive Inc)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.