Interior Shop definition
Examples of Interior Shop in a sentence
Should Tenant exercise this early termination right, Tenant shall be required to return the entire Interior Shop space along with all Equipment residing in the space as noted on the Master Equipment List by such anniversary date.
In addition, should Tenant exercise the early termination right with respect to the Interior Shop, Tenant agrees to pay a penalty based on the following scale, which scale is dependent on which year Tenant exercises such right.
Except to the extent Tenant is responsible therefor as provided under this Section 1002, the Authority shall, at its cost and expense, be responsible during the Term of this Lease Agreement for performing all maintenance, and repairs with respect to the Equipment furnished by the Authority to Tenant other than the Machine, Composite and Interior Shop Equipment, including without limitation preventive maintenance upon a periodic schedule in accordance with manufacturers’ recommendations.
Those areas include: ▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇ 7B, the remainder of vacant space within the Interior Shop, Administrative Building and the remainder of vacant space within the Supply Building.
By way of example, if Tenant were to exercise the early termination right to the Interior Shop on December 1, 2019, Tenant would pay a penalty of $141,645.00 to the Authority for such termination.
Annually on the anniversary date of the Term (December 1st of each year), Tenant shall have the option to terminate its right to the Interior Shop.
Tenant shall be responsible for the maintenance, repair and upkeep of all Equipment (tooling and equipment) included in the Machine Shop, Composite Shop and Interior Shop, including, manufacturers’ recommended preventative maintenance and the provisioning and replenishment of all consumables.
The Tenant shall, at its cost and expense, be responsible during the Term of this Lease Agreement for performing all maintenance, repairs and replacements with respect to the Equipment furnished by the Authority to Tenant that resides in the Machine Shop, Composite Shop and Interior Shop (the “Shop Equipment”), including without limitation preventive maintenance upon a periodic schedule acceptable to the Authority.
Notwithstanding the terms of subsections (A) and (B) above, Tenant shall have an early termination right with respect to the Interior Shop from and after December 1, 2017.
Tenant shall provide Authority written notice at least ninety (90) days in advance of such anniversary date, of Tenant’s exercising its right to terminate the Interior Shop space.