Common use of Possession and Use of the Property Clause in Contracts

Possession and Use of the Property. The Property must not be let or occupied by any person without the local authority’s prior written consent, which will not be unreasonably withheld provided that the property is to be occupied upon an assured shorthold tenancy which enables an order for possession to be obtained, after the expiry of an initial term of no more than 6 months, upon one month’s written notice]. If satisfactory evidence is not provided to the local authority that the Property is adequately insured against all usual risks, the local authority may itself insure the Property under an appropriate policy of insurance and against all usual risks unless there are reasonable grounds for concluding that the site value of the Property, disregarding any building on the property, is adequate security for the Debt, together with a reasonable amount by which it is anticipated that the Debt will increase in the foreseeable future. The local authority will give you notice of any Costs reasonably incurred by the local authority in so insuring the Property and if the borrower does not reimburse the amount of those Costs to the local authority within 28 days after such notice is given, the amount of those Costs will be added to the Debt and interest will be charged on the amount of those Costs in accordance with term above in respect of the period starting on the 29th day after notice of the Costs is given to you, or, if later than the 29th day after advance notice is given that such an item, or items, of Costs will be incurred, the date on which such item, or each such item of Costs is incurred . The local authority, or any appropriately qualified person acting on behalf of the local authority, may, no more than once a year, and upon giving at least 14 days’ notice to the borrower or other owner of the Property, inspect the Property for the purposes of ascertaining whether the Property is being maintained in reasonable condition and/or whether there are works of maintenance and/or repair which should be undertaken to the Property in order to preserve or restore its value. The local authority, or any appropriately qualified person acting on behalf of the local authority, may, upon giving not less than 14 days’ notice to you, carry out such works of maintenance and/or repair as the local authority reasonably considers should be undertaken to the Property in order to preserve or restore its value at or to a value which is adequate security for the Debt, together with a reasonable amount by which it is anticipated that the Debt will increase in the foreseeable future; provided that no more than 56 days and not less than 28 days before, you were given notice by the local authority (or any appropriately qualified person acting on behalf of the local authority) requesting that you carry out or have those works carried out, and those works have not been carried out to the reasonable satisfaction of the local authority or the appropriately qualified person. In the event that the local authority has reasonable grounds to believe that works of maintenance and/or repair are or may be required as a matter of urgency, the notice requirements under 8.3 and above are to be replaced with a requirement to take reasonable steps to notify you as soon as reasonably practicable. The local authority will give you notice of any reasonable Costs reasonably incurred by the local authority in relation to the maintenance and/or repair of the Property and if you do not reimburse the amount of those Costs to the local authority within 28 days after such notice is given, the amount of those Costs will be added to the Debt and interest will be charged on the amount of those Costs in accordance with term above in respect of the period starting on the 29th day after notice of the Costs was given to you until payment to the local authority.]

Possession and Use of the Property. If the Property becomes vacant, the Borrower agrees to make reasonable efforts to let out the Property, but subject to the requirements of term 7.2. The Property must not be let or occupied by any person without the local authority’s prior written consent, which will not be unreasonably withheld provided that the property is to be occupied upon an assured shorthold tenancy which enables an order for possession to be obtained, after the expiry of an initial term of no more than 6 months, upon one month’s written notice]. We require evidence that the Property is adequately insured against all usual risks and is adequate security for the Debt. If satisfactory evidence is not provided to the local authority that the Property is adequately insured against all usual risks, the local authority may itself insure the Property under an appropriate policy of insurance and against all usual risks unless there are reasonable grounds for concluding that the site value of the Property, disregarding any building on the property, is adequate security for the Debt, together with a reasonable amount by which it is anticipated that the Debt will increase in the foreseeable future. The local authority will give you notice of any Costs costs reasonably incurred by the local authority in so insuring the Property and if the borrower does not reimburse the amount of those Costs costs to the local authority within 28 days after such notice is given, the amount of those Costs costs will be added to the Debt and interest will be charged on the amount of those Costs costs in accordance with term above in respect of the period starting on the 29th day after notice of the Costs costs is given to you, or, if later than the 29th day after advance notice is given that such an item, or items, of Costs costs will be incurred, the date on which such item, or each such item of Costs costs is incurred . The Borrower or other owner of the Property must ensure that the Property is maintained in reasonable condition (and in particular that fixed items such as bathroom and kitchen fittings are not removed unless they are replaced in a manner which does not have a detrimental effect on the market value of the Property) The local authority, or any appropriately qualified person acting on behalf of the local authority, may, no more than once a year, and upon giving at least 14 days’ notice to the borrower or other owner of the Property, inspect the Property for the purposes of ascertaining whether the Property is being maintained in reasonable condition and/or whether there are works of maintenance and/or repair which should be undertaken to the Property in order to preserve or restore its value. The local authority, or any appropriately qualified person acting on behalf of the local authority, may, upon giving not less than 14 days’ notice to you, carry out such works of maintenance and/or repair as the local authority reasonably considers should be undertaken to the Property in order to preserve or restore its value at or to a value which is adequate security for the Debt, together with a reasonable amount by which it is anticipated that the Debt will increase in the foreseeable future; provided that no more than 56 days and not less than 28 days before, you were given notice by the local authority (or any appropriately qualified person acting on behalf of the local authority) requesting that you carry out or have those works carried out, and those works have not been carried out to the reasonable satisfaction of the local authority or the appropriately qualified person. In the event that the local authority has reasonable grounds to believe that works of maintenance and/or repair are or may be required as a matter of urgency, the notice requirements under 8.3 8.5 and 8.6 above are to be replaced with a requirement to take reasonable steps to notify you as soon as reasonably practicable. The local authority will give you notice of any reasonable Costs costs reasonably incurred by the local authority in relation to the maintenance and/or repair of the Property and if you do not reimburse the amount of those Costs costs to the local authority within 28 days after such notice is given, the amount of those Costs costs will be added to the Debt and interest will be charged on the amount of those Costs costs in accordance with term above in respect of the period starting on the 29th day after notice of the Costs costs was given to you until payment to the local authority.]

Possession and Use of the Property. (a) At all times during the Term, the Property shall be a Permitted Facility and shall be used by Lessee in the ordinary course of its business. Lessee shall pay, or cause to be paid, all charges and costs required in connection with the use of the Property as contemplated by this Lease. Lessee shall not commit or permit any waste of the Property or any part thereof. (b) The Property must not be let or occupied by address stated in Section 29.1 of this Lease is the chief place of business and chief executive office of Lessee (as such terms are used in Section 9-103(3) of the Uniform Commercial Code of any person without the local authority’s applicable jurisdiction), and Lessee will provide Lessor with prior written consentnotice of any change of location of its chief place of business or chief executive office. Regarding the Property, the Lease Supplement correctly identifies the initial location of the Improvements and contains an accurate legal description for the related parcel of Land. Lessee has no other places of business where the Improvements will be located other than those identified on the Lease Supplement. (c) [Intentionally Omitted]. (d) On the Basic Term Commencement Date, Lessor and Lessee shall execute a Lease Supplement which shall contain an Improvement Schedule that has a complete description of each Improvement and a legal description of the Land to be leased hereunder as of such date. Simultaneously with the execution and delivery of each Lease Supplement, Improvements, Land and the remainder of the Property shall be deemed to have been accepted by Lessee for all purposes of this Lease and to be subject to this Lease. (e) At all times during the Term with respect to the Property, Lessee will comply with all obligations under, and (to the extent no Event of Default exists and provided that such exercise will not be unreasonably withheld provided that impair the property is to be occupied upon an assured shorthold tenancy which enables an order for possession to be obtainedvalue, after the expiry of an initial term of no more than 6 months, upon one month’s written notice]. If satisfactory evidence is not provided to the local authority that the Property is adequately insured against all usual risks, the local authority may itself insure the Property under an appropriate policy of insurance and against all usual risks unless there are reasonable grounds for concluding that the site value utility or remaining useful life of the Property) shall be permitted to exercise all rights and remedies under, disregarding any building on the property, is adequate security for the Debt, together with a reasonable amount by which it is anticipated that the Debt will increase in the foreseeable future. The local authority will give you notice of any Costs reasonably incurred by the local authority in so insuring the Property all operation and if the borrower does not reimburse the amount of those Costs easement agreements and related or similar agreements applicable to the local authority within 28 days after such notice is given, the amount of those Costs will be added to the Debt and interest will be charged on the amount of those Costs in accordance with term above in respect of the period starting on the 29th day after notice of the Costs is given to you, or, if later than the 29th day after advance notice is given that such an item, or items, of Costs will be incurred, the date on which such item, or each such item of Costs is incurred . The local authority, or any appropriately qualified person acting on behalf of the local authority, may, no more than once a year, and upon giving at least 14 days’ notice to the borrower or other owner of the Property, inspect the Property for the purposes of ascertaining whether the Property is being maintained in reasonable condition and/or whether there are works of maintenance and/or repair which should be undertaken to the Property in order to preserve or restore its value. The local authority, or any appropriately qualified person acting on behalf of the local authority, may, upon giving not less than 14 days’ notice to you, carry out such works of maintenance and/or repair as the local authority reasonably considers should be undertaken to the Property in order to preserve or restore its value at or to a value which is adequate security for the Debt, together with a reasonable amount by which it is anticipated that the Debt will increase in the foreseeable future; provided that no more than 56 days and not less than 28 days before, you were given notice by the local authority (or any appropriately qualified person acting on behalf of the local authority) requesting that you carry out or have those works carried out, and those works have not been carried out to the reasonable satisfaction of the local authority or the appropriately qualified person. In the event that the local authority has reasonable grounds to believe that works of maintenance and/or repair are or may be required as a matter of urgency, the notice requirements under 8.3 and above are to be replaced with a requirement to take reasonable steps to notify you as soon as reasonably practicable. The local authority will give you notice of any reasonable Costs reasonably incurred by the local authority in relation to the maintenance and/or repair of the Property and if you do not reimburse the amount of those Costs to the local authority within 28 days after such notice is given, the amount of those Costs will be added to the Debt and interest will be charged on the amount of those Costs in accordance with term above in respect of the period starting on the 29th day after notice of the Costs was given to you until payment to the local authority.]