Racking Clause Samples
The Racking clause defines the requirements and responsibilities related to the installation, use, and maintenance of racking systems within a facility or leased premises. It typically outlines who is responsible for providing, installing, and removing racking, as well as any standards or approvals required for such systems. For example, the clause may specify that the tenant must obtain the landlord's consent before installing racking or that the tenant must remove all racking and repair any damage at the end of the lease. This clause ensures clarity regarding the ownership, safety, and condition of racking, thereby preventing disputes over property alterations and restoration obligations.
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Racking. As part of the purchase price, Purchaser is acquiring ------- between 100,000 - 125,000 square feet of racking and related fixtures (the "Racking") located at the Property. The parties shall prepare and initial a schedule of such Racking prior to the expiration of the Due Diligence Period, which schedule shall be appended to this Agreement as Exhibit "C".
Racking. Tenant shall have the right to remove all or a portion of the racking ("Racking") within the Expansion Space and receive any salvage value therefrom. Subject to Paragraph 18 hereof, all costs for removing the Racking shall be divided equally between Landlord and Tenant, such costs shall be calculated after deducting any payments or compensation received by Tenant for the salvage value. The Racking removal shall be competitively bid by Tenant and the contract terms and price approved by Landlord and REII-Gaithersburg prior to the removal of any Racking. Landlord shall reimburse Tenant for 50% of the approved price for the removal of the Racking, the later of 30 days after Landlord and REII - Gaithersburg close on the purchase of the Property or 30 days after receipt by Landlord of reasonable evidence that the contractor has been paid by Tenant for such removal.
Racking. During the Term and while Tenant has the right to possess the Premises, Tenant shall have the right to use Landlord’s right, title and interest in the existing racking that is located in the Premises and not being removed as part of the Demising Work (as defined in the Work Letter) (the ‘‘Racking’’). The Racking is and shall remain the property of Landlord. THE RACKING IS MADE AVAILABLE “AS IS” WITH ALL FAULTS AND WITHOUT ANY WARRANTY OR REPRESENTATION OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR ANY OTHER WARRANTY OR REPRESENTATION. The Racking was abandoned by a prior occupant of the Premises; Tenant assumes all risk of loss or injury related to the Racking and will defend and indemnify Landlord regarding any claim arising from Tenant’s use of the same. Tenant shall not sell or dispose of the Racking, shall not hold itself out as owner of the Racking, and shall not remove any of the Racking from the Premises. Tenant shall, at its sole cost and expense, (a) repair any damage to the Racking or, in the case of material damage from any cause, replace the damaged Racking with new, matching Racking, and (b) insure the Racking as part of the insurance required by Section 8.5 of this Lease. Tenant shall be liable for all taxes levied or assessed against the Racking. Upon the expiration or termination of this Lease or of Tenant’s right of possession, Tenant shall surrender the Racking in the same condition as when Tenant was first given access to the Premises, ordinary wear and tear excepted.
Racking. As long as present conditions persist, Management shall continue to identify incoming racks in need of repair. Industrial Mechanics will be utilized as required to assist with the opening and closing of a container which cannot be handled by the usual means. The Company also recognizes that occasional in-house repair of an extremely damaged container may be necessary to remove an immediate hazard.
Racking. CoolEarth shall supply either AP Alternatives ReadyRack or DPW solar racking. A sufficient amount of racking to support the total number of solar panels will be installed, per the detailed engineering and design.
Racking. The Premises currently contain certain steel racks which are the property of Landlord. Landlord shall have forty-five (45) days from and after the Commencement Date to remove such racks, without charge by Tenant. Landlord shall, at its cost and expense, promptly perform any repairs or replacements made necessary by such removal but shall not be responsible to restore or resurface any areas exposed by such removal.