Common use of Owner Option Clause in Contracts

Owner Option. With respect to any furniture, equipment, or other capital items of a similar nature for which the Owner reimburses Design-Builder its Actual Costs of acquisition, upon the termination or expiration of this Contract, and at the election of the Owner, Design-Builder shall either deliver such furniture, equipment and other capital items to the Owner, or shall credit to the Owner the depreciated (normal wear and tear only) value of such items as to which the Owner elects not to obtain. The Design-Builder shall protect all such items during the term of this Contract against loss or damage other than normal wear and tear.

Owner Option. With respect to any furniture, equipment, or other capital items of a similar nature for which the Owner reimburses Design-Builder Construction Manager its Actual Costs of acquisition, upon the termination or expiration of this ContractAgreement, and at the election of the Owner, Design-Builder Construction Manager shall either deliver such furniture, equipment and other capital items to the Owner, or shall credit to the Owner the depreciated (normal wear and tear only) value of such items as to which the Owner elects not to obtain. The Design-Builder Construction Manager shall protect all such items during the term of this Contract Agreement against loss or damage other than normal wear and tear.