Replacement of Components; Removal of Property Sample Clauses

Replacement of Components; Removal of Property. (i) In the ---------------------------------------------- ordinary course of maintenance, service, repair or testing during the Charter Period, any Component or Replacement Component may be removed and replaced with a Replacement Component and, upon such replacement, Charterer (or its designee) shall be entitled to retain the amount of the net proceeds of any sale or disposition of any such removed Component or Replacement Component. Any such Replacement Components shall be free and clear of all Liens, except Permitted Liens, and in as good operating condition as, and with a value, utility and useful life at least equal to, the Components or Replacement Components replaced, assuming such replaced Components or Replacement Components were in at least the condition and repair required to be maintained hereunder. Immediately upon any Replacement Component becoming incorporated in the Vessel without further act, (x) title to such Replacement Component thereupon shall vest in Owner and Owner's interest therein shall be subject to the Lien of the Indenture, (y) such Replacement Component shall become subject to this Charter Party and Owner's interest therein shall be deemed a part of the Vessel Interest for all purposes hereof to the same extent as the Component or Replacement Component it replaced and (z) title to such removed Component or Replacement Component shall vest in Charterer or such Person as shall be designated by Charterer, free and clear of all rights of Owner and the Indenture Trustee and shall no longer be deemed a Component or a Replacement Component hereunder. (ii) If, at any time during the Charter Period, Charterer shall conclude that any property included in the Vessel is obsolete, redundant or unnecessary and can be removed without diminishment of the value or utility of the Vessel or reduction of the remaining useful life of the Vessel and without causing the Vessel to become "limited use property" within the meaning of Revenue Procedure 76-30, Charterer may remove (or allow to be removed) such property and upon such removal, without further act, title to such property shall vest in Charterer or in such Person as shall be designated by Charterer, free of the Lien of the Indenture; provided that Charterer shall pay to Owner an -------- amount equal to any net proceeds from any sale or other disposition of any items of such property thereafter removed to the extent such net proceeds so allocated after the Closing Date exceed, in the aggregat...
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Related to Replacement of Components; Removal of Property

  • Removal of Property Upon expiration or earlier termination of this Lease, Tenant may remove its personal property, office supplies and office furniture and equipment if (a) such items are readily moveable and are not attached to the Premises; (b) such removal is completed prior to the expiration or earlier termination of this Lease; (c) no Event of Default exists at the time of such removal; and (d) Tenant immediately repairs all damage caused by or resulting from such removal. All other property in the Premises and any Tenant Alterations (including, wall-to-wall carpeting, paneling, wall covering, lighting fixtures and apparatus or wiring for Telecommunication Facilities or any other article affixed to the floor, walls, ceiling or any other part of the Premises or Building) shall become the property of Landlord and shall remain upon and be surrendered with the Premises; provided, however, at Landlord’s sole election, upon written notice by Landlord to Tenant at the time Tenant submits the plans and specifications for the Tenant Alterations to Landlord for its approval, Tenant shall be obligated, at its sole cost and expense, to remove at the end of the Lease Term or earlier termination of this Lease all (or such portion as Landlord shall designate) of the Removal Alterations (hereinafter defined) (including Telecommunication Facilities), repair any damages resulting from such removal and return the Premises to the same condition as existed prior to the installation of such Removal Alterations, reasonable wear and tear excepted. As used herein, the term “Removal Alterations” means any Tenant Alterations (including all Telecommunications Facilities and/or cabling in the Premises or running between the Premises and any other portion of the Building) (i) which Landlord, in response to a Removal Inquiry (hereinafter defined) by Tenant, indicated to Tenant must be removed by Tenant at the end of the Term; or (ii) with respect to which Tenant did not deliver a Removal Inquiry to Landlord at the time Tenant sough Landlord’s approval of such Tenant Alteration (in accordance with the provisions of this paragraph 4.7). As used herein, the term “Removal Inquiry” means an inquiry by Tenant, made to Landlord contemporaneously with Tenant’s request for approval of any Tenant Alternation, as to whether or not such Alteration must be removed by Tenant at the end of the Lease Term. Tenant waives all rights to any payment or compensation for such Tenant Alterations (including Telecommunication Facilities). If Tenant shall fail to remove any of its property from the Premises, Building or Land at the expiration or earlier termination of this Lease, Landlord may, at its option, remove and store such property at Tenant’s expense without liability for loss of or damage to such property, such storage to be for the account and at the expense of Tenant. Tenant shall pay all reasonable, actual and documented costs incurred by Landlord within fifteen (15) Business Days after demand for such payment. If Tenant fails to pay the cost of storing any such property, Landlord may, at its option, after it has been stored for a period of thirty (30) days or more, sell or permit to be sold, any or all such property at public or private sale (and Landlord may become a purchaser at such sale), in such manner and at such times and places as Landlord in its sole discretion may deem proper, and Landlord shall apply the proceeds of such sale: first, to the cost and expense of such sale, including reasonable attorneys’ fees actually incurred; second, to the payment of the costs or charges for storing any such property; third, to the payment of any other sums of money which may then be or later become due Landlord from Tenant under this Lease; and, fourth, the balance, if any, to Tenant.

  • Provision and Removal of Equipment B2.1 The Contractor shall provide all the Equipment necessary for the supply of the Services.

  • Removal of Equipment Subject, always, to the other terms and provisions of this Fee Agreement, the Company and any Sponsor Affiliates shall be entitled to remove and dispose of components of the Project from the Project in its sole discretion with the result that said components shall no longer be considered a part of the Project and, to the extent such constitute Economic Development Property, shall no longer be subject to the terms of this Fee Agreement. Economic Development Property is disposed of only when it is scrapped or sold or removed from the Project. If it is removed from the Project, it is subject to ad valorem property taxes to the extent the Property remains in the State and is otherwise subject to ad valorem property taxes.

  • SURRENDER OF PREMISES; REMOVAL OF PROPERTY Upon the Expiration Date or upon any earlier termination of this Lease, Tenant shall quit and surrender possession of the Premises to Landlord in as good order, condition and repair as when received or as hereafter may be improved by Landlord or Tenant, reasonable wear and tear and repairs which are Landlord's obligation excepted, and shall, without expense to Landlord, remove or cause to be removed from the Premises all personal property and debris, except for any items that Landlord may by written authorization allow to remain. Tenant shall repair all damage to the Premises resulting from the removal, which repair shall include the patching and filling of holes and repair of structural damage, provided that Landlord may instead elect to repair any structural damage at Tenant's expense. If Tenant shall fail to comply with the provisions of this Section, Landlord may effect the removal and/or make any repairs, and the cost to Landlord shall be additional rent payable by Tenant upon demand. If Tenant fails to remove Tenant's personal property from the Premises upon the expiration of the Term, Landlord may remove, store, dispose of and/or retain such personal property, at Landlord's option, in accordance with then applicable laws, all at the expense of Tenant. If requested by Landlord, Tenant shall execute, acknowledge and deliver to Landlord an instrument in writing releasing and quitclaiming to Landlord all right, title and interest of Tenant in the Premises.

  • Removal of Materials If you decide you would like to remove your Materials from the Service, you may provide written notice to Prime Publishing by either deleting the image through the Prime Publishing interface or by contacting Prime Publishing customer service, and Prime Publishing will remove such Materials from the Service within a reasonable period of time. 5) License for Name, Trademarks and Likenesses. You hereby grant to Prime Publishing, its Affiliates and sublicensees a nonexclusive, worldwide, royalty-free license to use all trademarks, trade names, and the names and likenesses of any individuals that appear in the Materials. You grant Prime Publishing, its Affiliates and sublicensees the right to use the name that you submit in connection with the Materials. 6) Specifications and Guidelines. You agree to submit Materials to us in accordance with all guidelines for use of the Service posted on the Prime Publishing web site or of which you are otherwise notified ("Guidelines"), as these Guidelines may be changed in the future. 7)