Maintenance and Modification of Project by Company Clause Samples

Maintenance and Modification of Project by Company. (a) Throughout the Lease Term the Company shall at its own expense (i) keep the Project in as reasonably safe condition as the operation thereof will permit, and (ii) keep the Leased Equipment and all other improvements forming a part of the Project in good repair and in good operating condition, making from time to time all necessary repairs thereto and renewals and replacements thereof. (b) The Company may, from time to time, in its sole discretion and at its own expense, make any additions, modifications or improvements to the Project, including installation of additional machinery, equipment, and related property; which it may deem desirable for its business purposes; provided that all such additions, modifications and improvements do not adversely affect the structural integrity of the building and are located wholly within the boundary lines of the Leased Land. All machinery, equipment and related property so installed by the Company shall remain the sole property of the Company in which neither the Issuer nor the Trustee shall have any interest and may be modified or removed at any time; provided, that any damage to the Project occasioned by such modification or removal shall be repaired by the Company at its own expense. (c) The Company shall not permit any mechanics', materialmen's, suppliers', vendors', or other similar lien to be established or remain against the Project for labor or materials furnished or services rendered in connection with any additions, modifications, improvements, repairs, renewals or replacements so made by it; provided, that if the Company shall first notify the Issuer of its intention so to do, the Company may in good faith contest any mechanics', materialmen's, suppliers', vendors' or other similar lien filed or established against the Project, and in such event may permit the items so contested to remain undischarged and unsatisfied during the period of such contest and any appeal therefrom unless the Issuer or the Trustee shall notify the Company that, in the opinion of independent Counsel, by nonpayment of any such items, the lien or security interests afforded by this Agreement will be materially endangered or the Project or any part thereof or the Trust Estate will be subject to loss or forfeiture, in which event the Company shall promptly pay and cause to be satisfied and discharged all such unpaid items. The Issuer will cooperate fully with the Company in any such contest.
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Maintenance and Modification of Project by Company. Throughout the term of this Agreement the Company shall at its own expense (i) keep the Project in as safe condition as the operation thereof will reasonably permit, and (ii) keep the Building and the Project Equipment and all other improvements forming a part of the Project in good repair and in good operating condition, making from time to time all reasonably necessary repairs thereto and renewals and replacements thereof.
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Related to Maintenance and Modification of Project by Company

  • Integration and Modification This Agreement sets forth the entire understanding and agreement of the Parties with respect to the subject matter of this Agreement and supersedes all prior agreements, understandings, negotiations, and communications, whether oral or written, with respect to such subject matter. Neither this Agreement, nor any provision or term of this Agreement, may be amended, modified, revoked, supplemented, waived, or otherwise changed except by a writing signed by all of the Parties.

  • Construction of Provisions Although certain provisions of this Agreement contain express language which precludes the Servicer's recovery of, or reimbursement for, expenses incurred hereunder, no inference to the contrary shall be drawn from absence of such, or similar, language in any other provision hereof regarding expenses.

  • Construction of Agreement The parties mutually acknowledge that they and their attorneys have participated in the preparation and negotiation of this Agreement. In cases of uncertainty this Agreement shall be construed without regard to which of the parties caused the uncertainty to exist.

  • ALTERATION OF AGREEMENT A. It is hereby agreed that any alteration or modification of this Agreement shall be binding upon the parties only if agreed to in writing by both parties. B. The waiver of any condition of this Agreement by either party shall not constitute a precedent in the future enforcement of all terms and conditions herein.

  • Modification of Agreement This Agreement may be modified, amended, suspended or terminated, and any terms or conditions may be waived, but only by a written instrument executed by the parties hereto.