Replacement of Property. Borrower will keep the Property fully equipped and will replace all worn out or obsolete personal property in a commercially reasonable manner with comparable fixtures or personal property. Borrower will not, without Lender’s prior written consent, remove any personal property covered by this Instrument unless the same is replaced by Borrower in a commercially reasonable manner with a comparable article (i) owned by Borrower free and clear of any lien or security interest (other than the Permitted Encumbrances and those created by this Instrument) or (ii) leased by Borrower (A) with Lender’s prior written consent (or, as to articles with a total lease cost, in the aggregate for the Property, of not more than $5,000 in lease obligations, with written notice to Lender together with a copy of the applicable lease) or (B) if the replaced personal property was leased at the time of execution of this Instrument.
Replacement of Property. Borrower will keep the Property fully equipped and will replace all worn out or obsolete Property with new, comparable fixtures or Property. Borrower will not, without Lender’s prior written consent, remove any Property owned by Borrower and covered by this Instrument unless the same is replaced by Borrower with a new (or refurbished), comparable article (i) owned by Borrower free and clear of any lien or security interest (other than the Permitted Encumbrances and those created by this Instrument) or (ii) leased by Borrower (A) with Lender’s prior written consent or (B) if the replaced Property was leased at the time of execution of this Instrument, except in the ordinary course of business.
Replacement of Property. Borrower will keep the Property fully equipped and will replace all worn out or obsolete Property (including fixtures) with replacement Property that is new and/or of better quality than the replaced Property. Borrower will not, without Lender’s prior written consent, remove any Property covered by this Instrument unless the same is replaced by Borrower with Property that is new and/or of better quality than the replaced Property and the replacement Property (i) is owned by Borrower free and clear of any lien or security interest (other than the Permitted Encumbrances and those created by this Instrument) or (ii) is leased by Borrower (A) with Lender’s prior written consent or (B) if the replaced Property was leased at the time of execution of this Instrument.
Replacement of Property. Borrower will keep its Individual Property fully equipped and will replace all worn out or obsolete Personal Property (as defined in the Instrument) in a commercially reasonable manner with comparable fixtures or Personal Property. Borrower will not, without Lender’s prior written consent (which request for consent will be considered in good faith), remove any Personal Property covered by this Agreement or the Instrument unless the same is replaced by Borrower in a commercially reasonable manner with a comparable article (i) owned by Owner or Operator free and clear of any lien or security interest (other than the applicable Permitted Encumbrances and those created by the Documents and purchase money security interests granted in connection with any Permitted Capital Leases) or (ii) leased by Owner or Operator (A) with Lender’s prior written consent, (B) pursuant to a Permitted Capital Lease, or (C) if the replaced Personal Property was leased at the time of execution of this Agreement. Without limiting Lender’s rights and remedies under Article VI of this Agreement, Article III of the Instrument or otherwise, if Borrower fails to maintain its Individual Property in compliance with the requirements of this Section 3.05(b), then Lender may impose additional reasonable requirements upon Borrower for the purposes of protecting Lender’s collateral security, insulating Lender from liability, or securing Lender’s rights hereunder, including reasonable monetary reserves or financial equivalents, until such time as Lender receives proof satisfactory to Lender of such compliance.
Replacement of Property. Borrower will keep the Property fully equipped and will replace all worn out or obsolete Property with new, comparable fixtures or Property. Borrower will not, without Lender's prior written consent, remove any Property covered by this Instrument unless the same is replaced by Borrower with a new or better, comparable article (i) owned by Borrower free and clear of any lien or security interest (other than the Permitted Encumbrances and those created by this Instrument) or (ii) leased by Borrower (A) with Lender's prior written consent or (B) if the replaced Property was leased at the time of execution of this Instrument.
Replacement of Property. Borrower will keep the Property fully equipped and will replace all worn out or obsolete Personal Property (as defined in the Instrument) in a commercially reasonable manner with comparable fixtures or Personal Property. Borrower will not, without Lender’s prior written consent (which shall not be unreasonably withheld), remove any Personal Property covered by this Agreement or the Instrument unless the same is replaced by Borrower in a commercially reasonable manner with a comparable article (i) owned by Borrower free and clear of any lien or security interest (other than the Permitted Encumbrances and those created by the Documents) or (ii) leased by Borrower (A) with Lender’s prior written consent (which shall not be unreasonably withheld) or (B) if the replaced Personal Property was leased at the time of execution of this Agreement, or (C) if such Personal Property consists of de minimis amounts of office equipment. Without limiting Lender’s rights and remedies under Article VI of this Agreement, Article III of the Instrument or otherwise, if Borrower fails to maintain the Property in compliance with the requirements of this Section 3.05(b), then Lender may impose additional requirements upon Borrower including monetary reserves or financial equivalents, until such time as Lender receives proof satisfactory to Lender of such compliance. Prudential Loan No. 706109689 Lakewood Flats Loan Agreement 18092735v.5
Replacement of Property. Borrower will keep, or use commercially reasonable efforts to cause Tenants to keep, the Property fully equipped and will replace, or, if the responsibility of a Tenant under its Lease, use commercially reasonable efforts to cause its Tenants to replace, all worn out or obsolete personal property with new, comparable fixtures or personal property. Borrower will not, without Xxxxxx’s prior written consent, remove any personal property covered by this Instrument that is material to the ownership, operation or value of the Property unless the same is replaced by Borrower with a new, comparable article (i) owned by Borrower free and clear of any lien or security interest (other than the Permitted Encumbrances and those created by this Instrument) or (ii) leased by Borrower (A) with Lender’s prior written consent or (B) if the replaced personal property was leased at the time of execution of this Instrument.
Replacement of Property. The employer agrees to repair or replace as necessary an officers eye glasses, contact lenses, and prescription sun glasses, up to a maximum cost of $250.00, if such are damaged or broken, if during the course of the employee's duties the employee is required to exert physical force or is attacked by another person. Incident to be documented with immediate supervisor.
Replacement of Property. Borrower (and Lessee, by its joinder to this Instrument, agrees to) (i) keep the Property fully equipped and will replace all worn out or obsolete Property with new fixtures or Property of comparable quality and function, (ii) not, without Lender's prior written consent, dispose of, pledge, convey or assign any Personal Property (other than sales of items normally held for sale in the ordinary course of business), unless the same is replaced by Borrower or Lessee with a new, comparable article (A) owned by Borrower or Lessee free and clear of any lien or security interest (other than the Permitted Encumbrances and those created by this Instrument) or (B) leased by Borrower or Lessee (x) with Lendxx'x xrior written consent or (y) if the replaced Property was leased at the time of execution of this Instrument. Notwithstanding anything to the contrary contained herein, provided no Event of Default exists, Borrower or Lessee may enter into leases for items of tangible Personal Property to be used at the Property, provided that (i) the aggregate value of such Personal Property leased under all such leases (as reflected in such leases and as the same reduces from time to time as the result of payments made under such leases) does not exceed $350,000.00 at any time, and (ii) Borrower or Lessee, as the case may be, shall deliver to Lender an agreement substantially in the form of Exhibit E attached hereto fully executed by each lessor thereunder.
Replacement of Property. Borrower will keep the Property fully equipped and will replace all worn out or obsolete fixtures and Personal Property (as defined in the Instrument) in a commercially reasonable manner with comparable fixtures or Personal Property. Borrower will not, without Lender’s prior written consent, remove any Personal Property covered by this Agreement or the Instrument unless the same is replaced by Borrower in a commercially reasonable manner with a comparable article (i) owned by Borrower free and clear of any lien or security interest (other than the Permitted Encumbrances and those created by the Documents) or (ii) leased by Borrower (A) with Lender’s prior written consent, (B) pursuant to a Permitted Capital Lease (defined in Section 10.04 hereof) or (C) if the replaced Personal Property was leased at the time of execution of this Agreement.
