Laserfiche WebLink
• 'rr <br />ARTICLE XXIV <br />INW <br />REMOVAL AND DISPOSAL OF PROPERTY <br />Section 2401. The Lessee may, provided Lessee is not in default in the <br />payment of basic rent or additional rent as required by the provisions of this Lease <br />and Agreement and has not received notice of any other default on its part hereunder, <br />remove, free of any right or claim of Lessor or the Trustee, any building service <br />equipment (hereinafter defined), subject however, in all cases to the following: <br />(a) Building service equipment may be so removed upon the substitution <br />therecf, then or theretofore, by Lessee of other building service equipment of a <br />utility or value at least equal to that, at the time of removal, of the building service <br />equipment removed; <br />(b) Worn out or obsolete building service equipment rnay be so removed and <br />building service equipment added by Lessee after the full completion of a building <br />(and not by way of repair, replacement or the like) may be removed, provided the <br />original efficiency, utility and value of the building is not impaired; <br />(c) Lessee shall pay all the costs and expenses of any such removal and <br />shall immediately repair at its expense all damage caused thereby. <br />The term "building service equipment" is intended to refer to such things <br />as are affixed to or incorporated in a building for its operation, such as boilers, <br />pumps, tanks, electrical panel switchboards, sprinklers, lighting equipment and <br />wiring, heating, plumbing and ventilating equipment, elevators, escalators, refrigera- <br />ting, air conditioning and air cooling equipment, and items similar in general to any <br />of -the foregoing. <br />Section 2402. The Lessor and the Lessee recognize that after Lessor's <br />