IMPROVEMENTS IN THE FACILITY. 3.4.1 The Parties agree that the Operator shall be free to purchase, at its own cost and expense, assets, equipment or other teaching aids required to be used in the Facility, in particular those that assist the Operator in fulfilling the KPIs. The Operator shall from time to time also replace the obsolete equipment and assets being used in the Facility with new assets and equipment at its own cost. The Parties further agree that all such assets, equipment or other teaching aids (whether originally provided by the Authority or purchased or replaced by the Operator) shall be the property of the Authority and shall be handed over to the Authority, free from any encumbrances on the Transfer Date.
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Samples: Concession Agreement, Concession Agreement, Concession Agreement
