Improvement Ownership Sample Clauses

Improvement Ownership. Until the expiration or sooner termination of this Lease (subject, however, to the rights of the holder of any leasehold Mortgagee(s) to obtain a new lease as set forth in Section 16 hereof), title to any building or buildings or improvements situate or erected on the demised premises and the building equipment and other items installed thereon and any alterations, changes or additions thereto shall remain solely in Tenant; and Tenant alone shall be entitled to deduct all depreciation on Tenant's income tax returns for any such building or buildings, building equipment and/or other items, improvements, additions, changes or alterations.
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Improvement Ownership. The parties acknowledge and agree that after the expiration, cancellation, nonrenewal or termination of this Amended and Restated Lease, the CITY and OCWUT shall own the improvements to the Amended Leased Property, free and clear of any lien, encumbrance or claim. Further, the parties acknowledge and agree that during the terms of this Amended and Restated Lease, Lessee may remove and replace certain improvements to the Amended Leased Property. However, the parties agree that Lessee shall not sell, dispose of or destroy any improvements to the Amended Leased Property to thwart or significantly impact or affect the right of the CITY or OCWUT to the improvements, excluding reasonable wear and tear, after the termination, expiration, cancellation or non-renewal of this Amended and Restated Lease. Except that Lessee shall be permitted to remove personal property. However, if this Amended and Restated Lease Agreement is cancelled or terminated prior to the expiration of the Initial Term by OCWUT for no cause, OCWUT shall pay to the Lessee the straight line depreciation of all capital improvements constructed on the Amended Leased Property by the Lessee during the Initial Term. The straight line method calculates depreciation by spreading the cost of the improvement, evenly from the date the improvement was placed into service, over the remaining term of the Amended and Restated Lease Agreement. The required variables for calculating depreciation are the cost and the remaining term of the Amended and Restated Lease Agreement (SL=Cost/Remaining Term). Lessee shall provide all the necessary documentation as required by OCWUT to support the capital improvement costs and subsequent verification of values by OCWUT or its agent.
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Improvement Ownership. 8 6.06 Disposition at Lease Termination.................................8 ARTICLE VII....................................................................8
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Improvement Ownership. It is understood that until payment of the full Purchase Price the Improvements either under construction or completed, and all materials and supplies stored or installed on the Property, remain the property of Seller. Seller has the right to substitute materials and appliances of substantially equal quality, pattern and design if it is unable to timely obtain the exact materials indicated on the Plans and Specifications through Seller’s ordinary and usual sources. It is also understood that dimensions may vary somewhat according to field conditions.
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Related to Improvement Ownership

  • Improvement Any alteration to the land or other physical construction located on or off the Property that is associated with this subdivision/PUD and building site developments.

  • Improvements The buildings, structures, fixtures, additions, enlargements, extensions, modifications, repairs, replacements and improvements now or hereafter erected or located on the Land (collectively, the “Improvements”);

  • IMPROVEMENTS, ETC 31 Section 6.1 Improvements to the Leased Property..............................................31 Section 6.2 Salvage..........................................................................31 Section 6.3 Equipment Leases.................................................................31 VII. LIENS......................................................................................................32 VIII. PERMITTED CONTESTS........................................................................................32 IX. INSURANCE...................................................................................................33 Section 9.1 General Insurance Requirements...................................................33 Section 9.2 General Insurance Provisions.....................................................35

  • Budget For Tenant Improvements A preliminary detailed breakdown by trade of the costs incurred or that will be incurred in connection with the design and construction of the Tenant Improvements is set forth on Schedule 3 attached hereto (the “Budget”). The Budget is based upon the TI Construction Drawings approved by Tenant and shall include a payment to Landlord of administrative rent (“Administrative Rent”) equal to 1.5% of the TI Costs, which Administrative Rent shall include, without limitation, all out-of-pocket costs, expenses and fees incurred by or on behalf of Landlord arising from, out of, or in connection with monitoring the construction of the Tenant Improvements and Changes, and shall be payable out of the TI Fund. Landlord shall provide Tenant with a final Budget promptly following approval of the TI Construction Drawings by Landlord and Tenant. The Budget shall be subject to Tenant’s review and approval which approval shall not be unreasonably withheld, conditioned or delayed by Tenant. Tenant shall have the right to approve any use of the contingency in the Budget by Landlord; provided, however, that, Tenant’s approval shall not be unreasonably withheld, conditioned or delayed, and the contingency shall not be available for use by Tenant for any Changes until all unforeseen conditions, changes to resulting from governmental agencies and the like have first been paid for out of the contingency.

  • TENANT'S IMPROVEMENTS If the Lessor is the Insuring Party, the Lessor shall not be required to insure Lessee Owned Alterations and Utility Installations unless the item in question has become the property of Lessor under the terms of this Lease. If Lessee is the Insuring Party, the policy carried by Lessee under this Paragraph 8.3 shall insure Lessee Owned Alterations and Utility Installations.

  • Project 3.01. The Recipient declares its commitment to the objectives of the Project. To this end, the Recipient shall carry out the Project in accordance with the provisions of Article IV of the General Conditions.

  • Lessee Improvements Lessee shall not make or allow to be made any alterations or physical additions in or to the leased premises without first obtaining the written consent of Lessor, which consent shall not be unreasonably withheld. Any alterations, physical additions or improvements to the leased premises made by Lessee shall at once become the property of Lessor and shall be surrendered to Lessor upon the termination of this Lease provided that Lessee shall be entitled to retain the property listed on Exhibit A attached hereto, and provided further that, Lessor, at its option, may require Lessee to remove any physical additions and/or repair any alterations in order to restore the leased premises to the condition existing at the time Lessee took possession, reasonable wear and tear excepted, all costs of removal and/or alterations to be borne by Lessee. This clause shall not apply to moveable equipment of furniture owned by Lessee, which may be removed by Lessee at the end of the term of this Lease if Lessee is not then in default and if such equipment and furniture are not then subject to any other rights, liens and interests of Lessor.

  • Construction of the Tenant Improvements Landlord shall construct the Tenant Improvements in accordance with this exhibit and the construction contract to be executed by Landlord and its contractor(s). The construction contract for constructing the Tenant Improvements and the contractor(s) to perform the work shall be approved and/or selected, as the case may be, by Landlord at its sole and absolute discretion without the consent of Tenant.

  • Cost of Tenant Improvements Unless specified otherwise herein, Landlord shall bear and pay the cost of the Tenant Improvements (which cost shall include, without limitation, the costs of construction, the cost of permits and permit expediting, and all architectural and engineering services obtained by Landlord in connection with the Tenant Improvements, the Contractor's fees, Landlord's fee for construction administration in an amount equal to the amount charged by any construction manager retained by Landlord (the "Construction Manager") up to a maximum of $6,121,750 (the "Tenant Improvement Allowance"). The Tenant Improvement Allowance shall be utilized only for building improvements to the Building (and Tenant's architect fees), and not for signage, furniture costs, any third party consulting or contracting fees, any telecom/cabling costs, or any other purpose. Tenant shall bear and pay the cost of the Tenant Improvements (including but not limited to all of the foregoing fees and costs) in excess of the Tenant Improvement Allowance, if any. The cost of the Tenant Improvements shall exclude the cost of furniture, fixtures and inventory and other items of Tenant's Work (as defined below). Notwithstanding the foregoing, the Tenant Improvement Allowance shall not be used for (and Tenant shall have no responsibility for) the following costs except to the extent any of the foregoing are caused by Tenant, are due to Tenant Delays or result from the failure of Tenant to comply with the terms of the Lease or this Work Letter: (1) Property Maintenance Costs prior to the Delivery Date; (2) charges for overtime, except to the extent approved by Tenant; (3) costs to correct construction defects; (4) costs incurred to enforce contracts or cure contractor or subcontractor defaults (including legal fees); or (5) principal or interest on construction loan obtained by Landlord for construction of the Tenant Improvements.

  • Landlord's Improvements All fixtures, improvements or equipment which are installed, constructed on or attached to the Premises, Building or Common Area by Landlord shall be a part of the realty and belong to Landlord.

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