Common use of Equipment and Assets Clause in Contracts

Equipment and Assets. The Park Board acknowledges and agrees that the Association is the owner of personal property other than Fixtures and easily removable equipment that were donated to the Association or purchased 100% by the Association using funds at its disposal or which were directed to the Association, unless the parties have agreed otherwise in writing (“Association Equipment”). The Park Board and the Association will create and maintain an up to date inventory of Association Equipment, and any changes, additions or deletions to the inventory must be agreed to by the Association and the Park Board. Disagreements on the ownership of an item will be resolved using the dispute resolution process set out in Section 18. Other than Association Equipment, equipment leased by the Association, and any equipment or assets of an affiliated group, 3rd party contractor or arms-length leasing party, as of the Effective Date, the parties agree that all property and equipment located in or at the Entire Facility is owned by the Park Board and/or the City.

Equipment and Assets. The Park Board acknowledges and agrees that the Association is the owner of personal property other than Fixtures and easily removable equipment that were donated to the Association or purchased 100% by the Association using funds at its disposal or which were directed to the Association, unless the parties have agreed otherwise in writing (“Association Equipment”). The Park Board and the Association will create and maintain an up to date inventory of Association Equipment, and any changes, additions or deletions to the inventory must be agreed to by the Association and the Park Board. Disagreements on the ownership of an item will be resolved using the dispute resolution process set out in Section 18. Other than Association Equipment, equipment leased by the Association, and or any equipment or assets of that were purchased by an affiliated group, 3rd party contractor or arms-length leasing party, as of the Effective Date, the parties agree that all property and equipment located in or at the Entire Facility is owned by the Park Board and/or the City.

Equipment and Assets. The Park Board acknowledges and agrees that the Association is the owner of personal property other than Fixtures and easily removable equipment that were donated to the Association or purchased 100% by the Association using funds at its disposal or which were directed to the Association, unless the parties have agreed otherwise in writing (“Association Equipment”). The Park Board and the Association will create and maintain an up to date inventory of Association Equipment, and any changes, additions or deletions to the inventory must be agreed to by the Association and the Park Board. Disagreements on the ownership of an item will be resolved using the dispute resolution process set out in Section 18. Other than Association Equipment, equipment leased by the Association, and or any equipment or assets of that were purchased by an affiliated group, 3rd party contractor or arms-length leasing party, as of the Effective Date, the parties agree that all property and equipment located in or at the Entire Facility is owned by the Park Board and/or the City.