Common use of Removal of Personalty Clause in Contracts

Removal of Personalty. Upon the expiration of the Lease Term, and if there is no then-existing continuing Event of Default, Lessee may remove from the Property all personal property (subject to any rights of Lessee’s Institutional Lenders) belonging to Lessee. Lessee shall repair any damage caused by such removal and shall leave the Property clean and in good and working condition and repair inside and out, subject to normal wear and tear, casualty and condemnation. Any property of Lessee left on the Property on the tenth day following the expiration of the Lease Term shall, at Lessor’s option, automatically and immediately become the property of Lessor.

Appears in 3 contracts

Samples: Lease Agreement (Kratos Defense & Security Solutions, Inc.), Lease Agreement (Kratos Defense & Security Solutions, Inc.), Lease Agreement (Kratos Defense & Security Solutions, Inc.)

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Removal of Personalty. Upon the expiration of the Lease Term, and if there Lessee is no then-existing continuing Event of Defaultnot then in breach hereof, Lessee may remove from the Property Properties all personal property (subject to any rights of Lessee’s Institutional Lenders) equipment, apparatus, machinery, appliances and other Personalty belonging to Lessee. Lessee shall repair any damage caused by such removal and shall leave all of the Property Properties clean and in good and working condition and repair inside and outcondition, subject damage by Casualty or Condemnation excepted. Subject to normal wear and tearthe rights of any lienholders, casualty and condemnation. Any any property of Lessee left on the Property Properties on the tenth thirtieth (30th) day following the expiration of the Lease Term shall, at Lessor’s option, automatically and immediately become the property of Lessor.

Appears in 1 contract

Samples: Master Lease Agreement (Ampco Pittsburgh Corp)

Removal of Personalty. Upon the expiration of the Lease Term, and if there Lessee is no then-existing continuing Event of Defaultnot then in breach hereof, Lessee may remove from the Property all personal property (subject to any rights of Lessee’s Institutional Lenders) belonging to Lessee. Lessee shall repair any damage caused by such removal and removal. Subject to the provisions of Section 7.01, Lessee shall leave the Property clean and in good and working condition and repair inside and out, subject to normal wear and tear, casualty and condemnation. Any property of Lessee left on the Property on the tenth day following the expiration of the Lease Term shall, at Lessor’s option, automatically and immediately become the property of Lessor.

Appears in 1 contract

Samples: Lease Agreement (U.S. Auto Parts Network, Inc.)

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Removal of Personalty. During the Lease Term, Lessee may remove from the Properties any or all of the personal property belonging to Lessee. Upon the expiration of the Lease Term, and if there is no then-existing continuing Event of Default, Lessee may remove from the Property Properties all personal property (subject to any rights of Lessee’s Institutional Lenders) belonging to Lessee. Lessee shall repair any damage caused by such removal and shall leave all of the Property Properties clean and in good and working condition and repair inside and out, subject to normal wear and tear, casualty and condemnation. Any property of Lessee left on the Property Properties on the tenth day following the expiration of the Lease Term and the date that Lessee vacates the Properties shall, at Lessor’s option, automatically and immediately become the property of Lessor.

Appears in 1 contract

Samples: Master Lease Agreement (Live Oak Acquisition Corp)

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