Common use of Modification of Leased Property Clause in Contracts

Modification of Leased Property. (a) The District has the right, at its own expense, to make additions, modifications and improvements to the Leased Property or any portion thereof. All additions, modifications and (b) The District shall not alter any item of Equipment or install any accessory, equipment or device on an item of Equipment if that would impair any applicable warranty, the originally intended function or the value of that Equipment. All repairs, parts, accessories, equipment and devices furnished, affixed to or installed on any Equipment, excluding temporary replacements, shall thereupon become subject to the security interest of the Bank.

Appears in 2 contracts

Sources: Lease Purchase Agreement, Lease Purchase Agreement