Common use of Ownership and Removal of Alterations Clause in Contracts

Ownership and Removal of Alterations. Title to all Alterations or improvements, existing or hereafter constructed on the Premises by Lessee shall be and remain the property of Lessee and may be removed by Lessee at expiration of this Agreement. In the event that Lessee fails to remove any Alteration located on the Premises at the expiration of this Agreement, then such Alteration shall be and become the property of Lessor. However, Lessor may elect to remove such Alterations and charge the expense of such removal, and the physical damage resulting from the removal, to Lessee. In the event Lessor elects to remove the Alterations, Lessor shall make its election within 60 days after expiration or termination of this Agreement and shall notify Lessee of any such election.

Ownership and Removal of Alterations. Title to all Alterations or improvements, existing or hereafter constructed on the Premises by Lessee Xxxxxx shall be and remain the property of Lessee Xxxxxx and may be removed by Lessee at expiration of this Agreement. In the event that Lessee Xxxxxx fails to remove any Alteration located on the Premises at the expiration of this Agreement, then such Alteration shall be and become the property of Lessor. However, Lessor may elect to remove such Alterations and charge the expense of such removal, and the physical damage resulting from the removal, to Lessee. In the event Lessor elects to remove the Alterations, Lessor shall make its election within 60 days after expiration or termination of this Agreement and shall notify Lessee of any such election.