Common use of Alteration of Project Clause in Contracts

Alteration of Project. The Company shall have and is hereby given the right, at its sole cost and expense, to make such changes and alterations in and to any part of the Project as the Company from time to time may deem necessary or advisable without consent of the Issuer or the Trustee; provided, however, the Company shall not, unless required by law, rule or regulation, make any major change or alteration which will materially adversely affect the intended use or structural strength of any part of the Project. All changes and alterations made by the Company pursuant to the authority of this Article shall (a) be made in a workmanlike manner and in material compliance with all laws and ordinances applicable thereto, (b) when commenced, be prosecuted to completion with due diligence, and (c) when completed, shall be deemed a part of the Project; provided, however, that additions of machinery, equipment and/or personal property of the Company, not purchased or acquired from proceeds of the Bonds and not constituting a part of the Project shall remain the separate property of the Company and may be removed by the Company at any time; provided further, however, that all such additional machinery, equipment and/or personal property which remains in the Project 90 days after the termination of this Lease Agreement for any cause other than the purchase of the Project pursuant to Article X hereof shall, subject to the Bank’s rights therein granted pursuant to the Security Documents, thereupon become the separate and absolute property of Issuer.

Alteration of Project. The Company Tenant shall have and is hereby given the right, at its sole cost and expense, to make such changes and alterations in and to any part of the Project as the Company Tenant from time to time may deem necessary or advisable without consent of the Issuer or the Trustee; provided, however, the Company Tenant shall not, unless required by law, rule or regulation, not make any major change or alteration which will materially adversely affect the intended use or structural strength of any part of the ProjectImprovements. All changes and alterations made by the Company Tenant pursuant to the authority of this Article shall (a) be made in a workmanlike manner and in material strict compliance with all laws and ordinances applicable theretothereof, (b) when commenced, be prosecuted to completion with due diligence, and (c) when completed, shall be deemed a part of the Project; provided, however, that additions of machinery, equipment and/or personal property of the CompanyTenant, not purchased or acquired from proceeds of the Bonds and not constituting a part of the Project shall remain the separate property of the Company Tenant and may be removed by the Company Tenant at any time; provided further, however, that all such additional machinery, equipment and/or personal property which remains remain in the Project 90 days after the termination of this Lease Agreement for any cause other than the purchase of the Project pursuant to Article X XVII hereof shall, subject to upon and in the Bank’s rights therein granted pursuant to the Security Documentsevent of such termination, thereupon become the separate and absolute property of the Issuer.