Possession and Use of the Leased Property Sample Clauses

Possession and Use of the Leased Property. Lessee agrees that the Leased Property will be used solely in the conduct of its business at the Site. At all times during the Term, the Leased Property shall remain in the possession and control of Lessee or a sublessee or assignee permitted hereunder; PROVIDED, HOWEVER that portions of the Equipment may be moved from the Site for maintenance, repair or replacement provided any such maintenance, repair or replacement is promptly undertaken and diligently completed and such Equipment is returned to the Site as promptly as reasonably practicable thereafter. Lessee warrants that the Leased Property will at all times be used and operated under and in compliance in all material respects with the terms of the Equipment Contracts and any other contracts or agreements applicable to the use or operation of the Leased Property or any portion thereof to which Lessee is a party or by which Lessee is bound, or to the extent contemplated by the Operative Documents or, as a result of any action or omission of Lessee, to which Lessor is a party or by which Lessor is bound and in a manner consistent with the standards applied by the Lessee for Lessee's or its Affiliates' other power generation facilities. Lessee shall not use the Leased Property or any part thereof for any purpose or in any manner that would materially adversely affect the Fair Market Value, utility, remaining useful life or residual value of the Leased Property, ordinary wear and tear excepted. Lessee assumes and agrees to pay all fees, charges, costs, assessments, impositions, utilities and other amounts which relate to or arise during the Term in connection with use of the Leased Property. All such charges for utilities imposed with respect to the Leased Property for a billing period during which this Lease expires or terminates (except when Lessee purchases the Leased Property in accordance with the terms of this Lease, in which case Lessee shall be solely responsible for all such charges) shall be adjusted and prorated on a daily basis between Lessee and any purchaser of the Leased Property, and each party shall pay or reimburse the other for each party's PRO RATA share thereof; PROVIDED, that in no event shall Lessor have any liability therefor.
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Possession and Use of the Leased Property. The Leased Property shall be used as a corporate office complex in a manner consistent with the standards applicable to properties of a similar nature in the geographic area in which the Leased Property is located and in any event not less than the standards applied by Lessee for other comparable properties owned or leased by Lessee or its Affiliates. Lessee may not use the Leased Property or any part thereof for any purpose or in any manner that would materially adversely affect the Fair Market Value, utility, remaining useful life, or residual value of the Leased Property, ordinary wear and tear excepted, or that would violate or conflict with Applicable Law or Insurance Requirements. Lessee shall not commit or permit any waste of the Leased Property or any part thereof.
Sample 1Sample 2
Possession and Use of the Leased Property. The Lessee intends to construct Alterations on and to initially use and operate the Leased Property as a data center and collocation facility for Internet services and connections. Thereafter, during the Lease Term, the Lessee may use the Leased Property for any other uses and purposes permitted under applicable zoning and land use laws, provided such change in use does not have a material adverse impact on the Fair Market Sales Value of the Leased Property. The Lessee shall pay, or cause to be paid, all charges and costs required or incurred in connection with the use of the Leased Property as contemplated by this Lease. The Lessee shall not commit or permit any waste of the Leased Property or any part thereof.
Sample 1
Possession and Use of the Leased Property. Each Site may be used for any Permitted Use that does not diminish or impair in any material respect (a) the value of such Site from the Fair Market Value as of the related Site Acquisition Date as stated in the appraisal delivered pursuant to Section 6.2(a) of the Participation Agreement or (b) the utility or useful life of such Site from that which existed on the related Site Acquisition Date and in a manner consistent with the standards applicable to properties of a similar nature and usage in the geographic area in which such Site is located and in any event not less than the standards applied by Lessee for other comparable properties owned or leased by Lessee or its Affiliates. Lessee shall not permit any Unit of Equipment or any Part relating to such Unit of Equipment to be used for any purpose other than the operation for which it was designed. Lessee shall pay, or cause to be paid, all charges and costs required in connection with the use of the Leased Property as contemplated by this Lease and, to the extent applicable, the Construction Agency Agreement. Lessee shall not commit or permit any waste of the Leased Property or any part thereof which would, individually or in the aggregate, have a Material Adverse Effect. Lessee shall at all times keep each Unit of Equipment in a location in which the security interest created in such Unit of Equipment by the Operative Documents shall remain a perfected, first priority security interest (other than Permitted Liens), and Lessee shall not move any Unit of Equipment without first making any filings or recordings necessary (including amendments and continuations) to maintain
Sample 1
Possession and Use of the Leased Property. The Leased Property shall be used only as a first class commercial office building. Lessee shall not use the Leased Property or any part thereof for any purpose or in any manner that would materially adversely affect the Fair Market Value, utility, remaining useful life or residual value of the Leased Property. At all times during the Term, the Leased Property shall be continuously leased by Lessee or a permitted sublessee, to the extent permitted herein, in the ordinary course of its business and only for a Permitted Use. Lessee shall pay, or cause to be paid, all charges and costs required in connection with the use of the Leased Property as contemplated by this Lease and the other Operative Documents. Lessee shall not commit or permit any waste of the Leased Property or any part thereof. During the Term, Xxxxxx assumes and agrees to perform on behalf of Lessor all of Xxxxxx's obligations as owner of the Leased Property and to pay all fees, assessments, Impositions and other amounts payable by Lessor as such owner during the Term and which relate to or arise in connection with the purchase, disposition, ownership or use of the Leased Property.
Sample 1
Possession and Use of the Leased Property. The Leased Property shall be used only as a first class commercial office building. Lessee shall not use the Leased Property or any part thereof for any purpose or in any manner that would materially adversely affect the Fair Market Value, utility, remaining useful life or residual value of the Leased Property. At all times during the Term, the Leased Property shall be continuously leased by Lessee or a permitted sublessee, to the extent permitted herein, in the ordinary course of its business and only for a Permitted Use. Lessee shall pay, or cause to be paid, all charges and costs required in connection with the use of the Leased Property as contemplated by this Lease and the other Operative Documents. Lessee shall not commit or permit any waste of the Leased Property or any part thereof. During the Term, Xxxxxx assumes and agrees to perform on behalf of Lessor all of Xxxxxx's obligations as owner of the Leased Property and to pay all fees, assessments, Impositions and other amounts payable by Lessor as such owner during the Term and which relate to or arise in connection with the purchase, disposition, ownership or use of the Leased Property.
Sample 1

Related to Possession and Use of the Leased Property

  • Condition of the Leased Property Lessee acknowledges receipt and delivery of possession of the Leased Property. Lessee has examined and otherwise has knowledge of the condition of the Leased Property and has found the same to be satisfactory for its purposes hereunder. Lessee is leasing the Leased Property “as is” in its present condition. Lessee waives any claim or action against Lessor in respect of the condition of the Leased Property. LESSOR MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IN RESPECT OF THE LEASED PROPERTY, OR ANY PART THEREOF, EITHER AS TO ITS FITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, AS TO THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, LATENT OR PATENT, IT BEING AGREED THAT ALL SUCH RISKS ARE TO BE BORNE BY LESSEE. LESSEE ACKNOWLEDGES THAT THE LEASED PROPERTY HAS BEEN INSPECTED BY LESSEE AND IS SATISFACTORY TO IT. Provided, however, to the extent permitted by law, Lessor hereby assigns to Lessee all of Lessor’s rights to proceed against any predecessor in title (other than any Affiliate of Lessee, which conveyed the Property to Lessor) for breaches of warranties or representations or for latent defects in the Leased Property. Lessor shall fully cooperate with Lessee in the prosecution of any such claim, in Lessor’s or Lessee’s name, all at Lessee’s sole cost and expense. Lessee hereby agrees to indemnify, defend and hold harmless Lessor from and against any claims, obligations and liabilities against or incurred by Lessor in connection with such cooperation.

  • Use of Leased Property Xxxxxx agrees to use the Leased Property only as residence. Xxxxxx agrees to obey all federal, state and local laws and regulations when using the Leased Property. Xxxxxx agrees not to store any flammable or dangerous things in or around the Leased Property. Xxxxxx agrees not to do anything in or around the Leased Property, which could harm anyone or damage any property. Xxxxxx agrees that Tenant will not allow more than one person per bedroom to live in the Leased Property without the written permission of Landlord. The fact that Tenant may have conflict with a roommate will not act as grounds to terminate this Lease. In the event that Xxxxxx is arrested for or charged with any crime (other than a traffic related offense not involving illegal or controlled substances) during the term of the Lease, and/or Landlord is presented with evidence of activities of Tenant which shall constitute a nuisance or a threat to Landlord, other tenants, the Leased Property or the development, Landlord shall have the right to evict Tenant from the Leased Property.

  • DAMAGE TO LEASED PREMISES In the event the building housing the Premises shall be destroyed or damaged as a result of any fire or other casualty which is not the result of the intentional acts or neglect of Lessee and which precludes or adversely affects the Lessee’s occupancy of the Premises, then in every such cause, the rent herein set forth shall be abated or adjusted according to the extent to which the leased Premises have been rendered unfit for use and occupation by the Lessee and until the demised Premises have been put in a condition at the expense of the Lessor, at least to the extent of the value and as nearly as possible to the condition of the Premises existing immediately prior to such damage. It is understood, however, in the event of total or substantial destruction to the Premises that in no event shall the Lessor's obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage.

  • USE OF LEASED PREMISES The Lessor is leasing the Premises to the Lessee and the Lessee is hereby agreeing to lease the Premises for the following use and purpose: . Any change in use or purpose the Premises other than as described above shall be upon prior written consent of Lessor only.

  • Leased Property Upon and subject to the terms and conditions hereinafter set forth, Landlord leases to Tenant and Tenant leases from Landlord all of Landlord's right, title and interest in and to all of the following (collectively, the "Leased Property"):

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