Common use of Replacement of Fixtures Clause in Contracts

Replacement of Fixtures. Mortgagor shall not, without the prior written consent of Mortgagee, permit any of the Fixtures owned or leased by Mortgagor to be removed at any time from the Land or Improvements, unless the removed item is (a) removed temporarily for its protection, maintenance or repair, (b) replaced by an item of similar functionality and quality, (c) obsolete or unnecessary for the then-current operation of the Premises, or (d) not prohibited from being removed by the Indenture, the Notes Indenture, the Collateral Agreement or any Other First Lien Agreement. 2 Add this provision if recovery is limited for mortgage tax purpose (see footnote 1).