Required Replacements definition

Required Replacements means those items listed on the Required Replacement Schedule.
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Required Replacements are the replacements to worn-out equipment, fixtures, and improvements that a commercially reasonable owner-user would make. All of the following shall be in Good Condition and Repair: (i) the interior walls and floors of all offices and other interior areas, (ii) all suspended ceilings and any carpeting shall be clean and in good condition, (iii) all windows, doors and door closures and glazing and plate glass if not covered by insurance, and (iv) all electrical systems, including light fixtures and ballasts, plumbing, and temperature control systems. Lessee, on or before the end of the Lease Term or sooner termination of this Lease, shall remove all its personal property and trade fixtures from the Premises, and all such property not so removed shall be deemed to be abandoned by Lessee. Lessee shall reimburse Lessor for all disposition costs incurred by Lessor relative to Lessee's abandoned property. If the Premises are not surrendered at the end of the Lease Term or earlier termination of this Lease, Lessee shall indemnify Lessor against loss or liability resulting from any delay caused by Lessee in surrendering the Premises including, without limitation, any claims made by any succeeding Lessee founded on such delay. Notwithstanding the provisions of the preceding sentence, Lessor shall provide Lessee with 30 days prior written notice of any damages that will be due Lessor as a result of Lessee's delay in surrendering the Premises and Lessee shall have no obligation for these damages if Lessee surrenders the Premises within the subject 30 days.
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Required Replacements means the Required Replacements as defined in Section 7(a).
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Examples of Required Replacements in a sentence

  • September 2020ISIN no: GB00B0D5V538JSE Share Code: RAV(“Raven Property” or the “Company”) Dear Shareholder, TENDER OFFER The Company has today published on its website a circular and notice of General Meeting to be held at the offices of the Company, Second Floor, La Vieille Cour, La Plaiderie, St Peter Port, Guernsey GY1 6EH on 29 September 2020 at 11.30 a.m. (together the “Circular”).

  • In lieu of a full verification inspection, you must exercise sound credit judgment in determining: • if all Completion/Repairs, Required Replacements, and/or Casualty Restorations were completed satisfactorily; and• whether to release escrowed funds.

  • Lessee agrees on the last day of the Lease Term, or on the sooner termination of this Lease, to surrender the Premises to Lessor in Good Condition and Repair “Good Condition and Repair” shall generally mean that the Premises are in the condition that one would expect the Premises to be in, if throughout the Lease Term Lessee (i) uses and maintains the Premises in a commercially reasonable manner and in an accordance with the requirements of this Lease and (ii) makes all Required Replacements.

  • Notwithstanding the foregoing, Seller shall be entitled to a credit at Closing for the cost of reimbursable Required Replacements (as defined in the Assumed Loan documents) made to the Hotel but for which Seller has not been reimbursed by the Lender from the Replacement Reserve Account.

  • Seller shall provide Buyer with supporting documentation that in Buyer’s reasonable discretion evidences such non-reimbursed Required Replacements.

  • Notwithstanding anything to the contrary contained above in this Section 7.3, “Heat and Air Conditioning.”, or elsewhere in this Lease, the following relating to the condition of HVAC Systems upon delivery and Required Replacements (as defined below) shall apply with respect to HVAC Systems.

  • Subtenant shall, at its sole cost and expense keep, repair and maintain the interior of the Sublease Premises in Good Condition and Repair, including, but not limited to, the interior walls and floors of all offices and other interior areas, doors and door closures, all lighting systems, temperature control systems, plumbing systems, and the existing approximately 20,000 square foot clean room, including any Required Replacements.

  • Lessee acknowledges that it accepts the existing FF&E in “as is where is” condition, and Lessee is solely responsible for all maintenance, repairs and Required Replacements as defined herein.

  • Instead, "Good Condition and Repair" shall generally mean that the Premises are in the condition that one would expect the Premises (as Substantially Completed by Lessor) to be in, if throughout the Lease Term Lessee (i) uses and maintains the Premises in a commercially reasonable manner and in accordance with the requirements of this Lease and (ii) makes all Required Replacements.


More Definitions of Required Replacements

Required Replacements are the replacements to nonfunctioning equipment, fixtures, and improvements that a commercially reasonable owner-user would make. Good Condition and Repair shall not require the replacement of functioning but obsolete Equipment or Improvements. Notwithstanding the foregoing, Tenant shall not be obligated to pay any portion of the following items:
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Required Replacements are the replacements to worn-out equipment, fixtures, and improvements that a commercially reasonable owner-user would make. All of the following shall be in Good Condition and Repair: (i) the interior walls and floors of all offices and other interior areas, (ii) all suspended ceilings and any carpeting shall be clean and in good condition, (iii) all glazing, windows, doors and door closures, plate glass, and (iv) all electrical systems including light fixtures and ballasts, plumbing, and temperature control systems. Lessee, on or before the end of the Lease Term or sooner termination of this Lease, shall remove all its personal property and trade fixtures from the Premises, and all such property not so removed shall be deemed to be abandoned by Lessee. Lessee shall reimburse Lessor for all disposition costs incurred by Lessor relative to Lessee's abandoned property. If the Premises are not surrendered at the end of the Lease Term or earlier termination of this Lease, Lessee shall indemnify Lessor against loss or liability resulting from any delay caused by Lessee in surrendering the Premises including, without limitation, any claims made by any succeeding Lessee founded on such delay.
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Required Replacements are the repairs or replacements to any equipment, fixtures, and improvements that a commercially reasonable tenant would make with the exception of (i) any reasonable wear and tear and (ii) the repair or replacement of the heating, ventilation and air conditioning system ("HVAC") or the roof of the Premises, each of which shall be the responsibility of Lessor. Lessee, on or before the end of the Lease Term or sooner termination of this Lease, shall remove all of its personal property, equipment and trade fixtures from the Premises, and all such property not so removed shall be deemed to be abandoned by Lessee. Lessee shall reimburse Lessor for all storage and disposition costs incurred by Lessor relative to Lessee's abandoned property. If the Premises are not surrendered at the end of the Lease Term or earlier termination of this Lease, Lessee shall indemnify Lessor against any loss or liability resulting from any delay caused by Lessee in surrendering the Premises including, without limitation, any claims made by any succeeding tenant caused by such delay.
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Required Replacements are the replacements to worn-out (non-repairable) equipment, fixtures, and improvements, including the Capital Replacements that a commercially reasonable owner-user would make. All of the following shall be in Good Condition and Repair: (i) the interior walls and floors (new carpet will not be required at the end of the Sublease Term) of all offices and other interior areas; (ii) all suspended ceilings and any carpeting shall be clean and in good condition; (iii) all glazing, windows, doors and door closures, plate glass, (iv) all electrical systems, including light fixtures and ballasts, plumbing, and temperature control systems; and (v) the existing approximately 20,000 square foot clean room. Subtenant, on or before the end of the Sublease Term or sooner termination of this Sublease, shall remove all of its personal property and trade fixtures from the Sublease Premises (subject to Section 8.2 hereof), and all such property not so removed shall be deemed abandoned by Subtenant. Subtenant shall reimburse Tenant for all disposition costs incurred by Tenant relative to Subtenant’s abandoned property. Subtenant agrees that time shall be of the essence with respect to Subtenant’s obligation to surrender possession of the Sublease Premises to Tenant upon the termination of the Sublease Term, and further agrees that in the event Subtenant does not promptly surrender possession of the Sublease Premises to Tenant upon such termination, Tenant, in addition to any other rights and remedies Tenant may have against Subtenant for such holding over, shall be entitled to bring summary proceedings against Subtenant, and Subtenant agrees to reimburse Tenant for all Tenant’s damages sustained by reason of such holding over, including without limitation, Tenant’s consequential damages related to any holdover rent under the Master Lease, reasonable attorneys’ fees and disbursements incurred in connection with the exercise by Tenant of its remedies against Subtenant. Subtenant understands that any holdover rent imposed by the Master Lease for a holdover in the Sublease Premises is not limited to the Rent for the Sublease Premises.
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Related to Required Replacements

  • Required Repairs shall have the meaning set forth in Section 7.1.1 hereof.

  • Approved Replacement means, with respect to a Market Quotation, an entity making such Market Quotation, which entity would satisfy conditions (a), (b), (c) and (d) of the definition of Permitted Transfer (as determined by Party B in its sole discretion, acting in a commercially reasonable manner) if such entity were a Transferee, as defined in the definition of Permitted Transfer.

  • Required Repair Fund shall have the meaning set forth in Section 7.1.1 hereof.

  • Required Repair Account shall have the meaning set forth in Section 7.1.1 hereof.

  • Capital Replacement means the replacement of those items listed on Exhibit F.

  • Required Reports Collectively, the Monthly Report, the Servicer’s Certificate required pursuant to Section 6.10(c), the financial statements of the Servicer required pursuant to Section 6.10(d), the annual statements as to compliance required pursuant to Section 6.11, and the annual independent public accountant’s report required pursuant to Section 6.12.

  • Qualifying Replacement Capital Covenant has the meaning specified in the Replacement Capital Covenant.

  • Full Replacement Cost as used herein shall mean the actual replacement cost of the Leased Property requiring replacement from time to time including an increased cost of construction endorsement, if available, and the cost of debris removal. In the event either party believes that full replacement cost (the then-replacement cost less such exclusions) has increased or decreased at any time during the Lease Term, it shall have the right to have such full replacement cost re-determined.

  • Repairs means the repairs to be made to the Mortgaged Property, as described on the Repair Schedule of Work (Exhibit C) or as otherwise required by Lender in accordance with this Loan Agreement.

  • Replacement Costs means the expenditures for obtaining and installing equipment, accessories or appurtenances which are necessary during the useful life of the treatment works to maintain the capacity and performance for which such works were designed and constructed.

  • Replacement Assets means (1) tangible non-current assets that will be used or useful in a Permitted Business or (2) substantially all the assets of a Permitted Business or a majority of the Voting Stock of any Person engaged in a Permitted Business that will become on the date of acquisition thereof a Restricted Subsidiary.

  • Benchmark Replacement Date means the earliest to occur of the following events with respect to the then-current Benchmark:

  • Intent-Based Replacement Disclosure means, as to any security or combination of securities, that the issuer thereof has publicly stated its intention, either in the prospectus or other offering document under which such securities were initially offered for sale or in filings with the Commission made by the issuer under the Securities Exchange Act prior to or contemporaneously with the issuance of such securities, that the issuer will redeem or repurchase such securities only with the proceeds of replacement capital securities that have equity-like characteristics at the time of redemption or repurchase that are the same as or more equity-like than the securities then being redeemed or repurchased, raised within 180 days prior to the applicable redemption or repurchase date. Notwithstanding the use of the term “Intent-Based Replacement Disclosure” in the definitions of “Qualifying Capital Securities” and “Qualifying Non-Cumulative Preferred Stock”, the requirement in each such definition that a particular security or the related transaction documents include Intent-Based Replacement Disclosure shall be disregarded and given no force or effect for so long as the Corporation is a bank holding company within the meaning of the Bank Holding Company Act of 1956, as amended.

  • Benchmark Replacement means, for any Available Tenor, the first alternative set forth in the order below that can be determined by the Administrative Agent for the applicable Benchmark Replacement Date:

  • Contractor-acquired property means property acquired, fabricated, or otherwise provided by the Contractor for performing a contract, and to which the Government has title.

  • Replacement Loans has the meaning specified in Section 10.01.

  • Substitute Improvements means the substitute or additional improvements of the Issuer described in Article V hereof.

  • Repair or replacement means the restoration of vehicles, vessels, or outboard

  • LIBOR Replacement Date has the meaning specified in Section 3.03(c).

  • Independent expenditure means an expenditure by a person:

  • Replacement Sub-Contractor means a sub-contractor of the Replacement Supplier to whom Transferring Supplier Employees will transfer on a Service Transfer Date (or any sub-contractor of any such sub-contractor);

  • Erection, construction, remodeling, repairing means all types of work done on a particular building or work at the site thereof in the construction or development of the project, including without limitation, erecting, construction, remodeling, repairing, altering, painting, and decorating, the transporting of materials and supplies to or from the building or work done by the employees of the Contractor, Subcontractor, or Agent thereof, and the manufacturing or furnishing of

  • Replacement Equipment means operational equipment or other parts used by Tenant to replace any of the Equipment.