License Area definition
Examples of License Area in a sentence
In the event the License Area, or any part thereof, is destroyed or damaged by fire, lightning, storm or other casualty, either party may terminate this License by providing written notice to the other party within twenty (20) days of the casualty.
Licensee shall continuously maintain and keep in good repair and safe condition, at its sole cost and expense, the License Area and the furniture, fixtures and equipment located therein (the “FF&E”); it being understood the Licensee shall pay and be responsible for the costs (excluding taxes and utilities) of all use, maintenance, and repair associated with Licensee’s Permitted Use of the License Area.
Title to the License Area and all FF&E shall remain vested with Licensor and Licensee shall have no interest in the title to the License Area or the FF&E.
If Licensee fails to vacate and surrender the License Area upon the termination or expiration of this License, in addition to any other liabilities to Licensor accruing therefrom, Licensee shall protect, defend, indemnify and hold Licensor harmless from all loss, costs (including reasonable attorneys’ fees) and liability resulting from such failure, including any claims made by any succeeding tenant or licensee founded upon such failure to surrender, and any lost profits to Licensor resulting therefrom.
If neither party terminates the License, Licensor may forthwith repair the damage to the License Area (excluding Licensee’s personal property) at its own cost and expense.