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.

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.

Improvement Ownership. 8 6.06 Disposition at Lease Termination.................................8 ARTICLE VII....................................................................8

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.