Common use of Ownership of Alterations Clause in Contracts

Ownership of Alterations. Any Alterations shall belong to Tenant until the Termination Date, at which time the Alterations (other than Tenant’s Trade Fixtures (as hereinafter defined)) shall belong to Landlord; provided, however, in no event shall the Alterations be removed by Tenant prior to the Termination Date, except as expressly provided herein. For purposes of this Lease, “Trade Fixtures” shall mean a piece of equipment placed on the Premises owned by Tenant and used in Tenant’s trade or business. For the avoidance of doubt, Trade Fixtures shall not include, without limitation, Building systems and machinery, built-in cabinet work and/or lab benches, purpose-built mezzanine space, all HVAC, air handling, electrical, mechanical and plumbing equipment and related ducts, shafts, and conduits, all exterior venting fume hoods, walk-in freezers and refrigerators, clean-rooms, climatized rooms, electrical panels and power back-up distribution systems. The parties agree that Landlord will be treated for all purposes, including tax purposes, as the owner of (and will be the party entitled to claim depreciation or other cost recovery deductions for federal tax purposes with respect to) any improvements, equipment, or personal property that were paid for, or reimbursed by, Landlord, including any allowance provided by Landlord, and Tenant will be treated for all purposes, including tax purposes, as the owner of (and will be the party entitled to claim depreciation or other cost recovery deductions for federal tax purposes with respect to) any improvements to the extent that the cost for such improvements were paid for by Tenant and to the extent any such costs exceed any allowance provided by Landlord. Unless required to adopt a contrary position as a result of an administrative or judicial proceeding, the parties shall take no action inconsistent with, the intentions set forth in this paragraph. The parties will provide each other with such cooperation as is reasonably necessary to implement the intentions of this paragraph.

Ownership of Alterations. Any Alterations All alterations and additions shall belong be part of the Building and owned by the Landlord. With respect to alterations and additions requiring prior notice to Landlord and the consent of Landlord, if Tenant fails to inform Landlord (as and to the extent required under this Lease) at least ten (10) days prior to the installation of the alteration or addition, thereby preventing Landlord from making a determination as to whether it will want such addition or alteration removed from the Premises prior to its installation, then Landlord may require such removal without exception. Otherwise, additions and alterations made by Tenant may be surrendered upon the expiration of the Term unless Landlord requires removal by notice to Tenant until at the Termination time Landlord approves such additions and alterations. All movable trade fixtures and furnishings not attached to the Premises shall remain the property of the Tenant and shall be removed by the Tenant upon termination or expiration of this Lease. The Tenant shall repair any damage caused by the removal of any alterations, additions or personal property from the Premises, including the Removable Equipment (as defined below). Landlord and Tenant agree that prior to the Rent Commencement Date, Tenant shall provide a list to Landlord of equipment that Tenant has attached to the walls or floors of the Premises, and/or hard-wired or plumbed to the electrical, plumbing or mechanical systems of the Premises, together with evidence indicating that such equipment was not purchased with the Leasehold Improvements Allowance (the “Removable Equipment”). Notwithstanding the foregoing provisions of this Section 4.2, Tenant shall be permitted to remove the Removable Equipment from the Premises at which time the Alterations (other than Tenant’s Trade Fixtures (as hereinafter defined)) end of the Term, provided that such Removable Equipment shall belong to Landlord; provided, however, in no event shall the Alterations be removed by Tenant prior to with reasonable care and diligence, including the Termination Date, except as expressly provided herein. For purposes capping off of this Lease, “Trade Fixtures” shall mean a piece of equipment placed on all utility connections behind the Premises owned by Tenant and used in Tenant’s trade or business. For the avoidance of doubt, Trade Fixtures shall not include, without limitation, Building systems and machinery, built-in cabinet work and/or lab benches, purpose-built mezzanine space, all HVAC, air handling, electrical, mechanical and plumbing equipment and related ducts, shaftsadjacent interior finish, and conduits, all exterior venting fume hoods, walk-in freezers and refrigerators, clean-rooms, climatized rooms, electrical panels and power back-up distribution systems. The parties agree that Landlord will be treated for all purposes, including tax purposes, as the owner restoration of (and will be the party entitled to claim depreciation or other cost recovery deductions for federal tax purposes with respect to) any improvements, equipment, or personal property that were paid for, or reimbursed by, Landlord, including any allowance provided by Landlord, and Tenant will be treated for all purposes, including tax purposes, as the owner of (and will be the party entitled to claim depreciation or other cost recovery deductions for federal tax purposes with respect to) any improvements such interior finish to the extent necessary so that the cost for such improvements were paid for by Tenant Premises are left with complete wall, ceiling and to the extent any such costs exceed any allowance provided by Landlord. Unless required to adopt a contrary position as a result of an administrative or judicial proceeding, the parties shall take no action inconsistent with, the intentions set forth in this paragraph. The parties will provide each other with such cooperation as is reasonably necessary to implement the intentions of this paragraphfloor finishes.

Ownership of Alterations. Any Alterations shall belong to Tenant until All Alterations, improvements, fixtures and/or equipment which may be installed or placed in or about the Termination Date, at which time the Alterations (other than Tenant’s Trade Fixtures (as hereinafter defined)) shall belong to Landlord; provided, however, in no event shall the Alterations be removed Premises by Tenant prior to the Termination Date(including, except as expressly provided herein. For purposes of this Leasebut not limited to, “Trade Fixtures” shall mean a piece of equipment placed on the Premises owned by Tenant all floor and used in Tenant’s trade or business. For the avoidance of doubtwall coverings, Trade Fixtures shall not include, without limitation, Building systems and machinery, built-in cabinet work and/or lab and paneling, sinks and related plumbing fixtures, laboratory benches, purpose-built mezzanine space, all HVAC, air handling, electrical, mechanical and plumbing equipment and related ducts, shafts, and conduits, all exterior venting fume hoods, hoods and walk-in freezers and refrigerators, clean-roomsductwork, climatized roomsconduits, electrical panels and power back-up distribution systemscircuits), shall be at the sole cost of Tenant and shall remain the property of Tenant during the Term, and upon expiration of earlier termination of this Lease, shall be and become the property of Landlord. The parties agree Furthermore, Landlord may require (in a notice given concurrently with Landlord's grant of its consent to such Alterations or with respect to Permitted Alterations, within three (3) business days of Tenant's notice to Landlord of such Permitted Alterations) that Tenant remove any such Alterations, improvements, fixtures and/or equipment upon the expiration or early termination of the Lease Term, and repair any damage to the Premises and Building caused by such removal. Notwithstanding anything above to the contrary, Landlord will may not require Tenant to remove improvements which are consistent with typical tenant improvements for the Permitted Use; provided, however, in all cases Tenant shall be treated for all purposesrequired to remove, including tax purposesand to restore the Premises or Project, as applicable, to their previous condition, the owner of following Alterations installed by Tenant during the Term (and will be expressly excluding the party entitled to claim depreciation or other cost recovery deductions for federal tax purposes with respect toinitial Tenant Improvements): (a) any improvementscafeteria, equipmentkitchens, vivarium, showers, restrooms, washrooms or personal property similar facilities in the Premises that were paid forare not part of the Base Building, or reimbursed by(b) any private/internal stairways in the Premises, Landlord, including any allowance provided by Landlord, as opposed to fire stairs (and Tenant will shall be treated for all purposesrequired to demolish and "cap" any such private/internal stairways at the expiration or earlier termination of this Lease), including tax purposes(c) any other items, as improvements or fixtures which Tenant is expressly required to remove pursuant to the owner terms of this Lease, (and will be the party entitled to claim depreciation or other cost recovery deductions for federal tax purposes with respect tod) any improvements or signage incorporating Tenant's name or logo, (e) safes and vaults, (f) raised flooring, and (g) any alteration, improvement or equipment not complying with Applicable Laws. Any Alterations or Improvements other than those consistent with typical tenant improvements for the Permitted Use or as numerated in (a) through (g) above, are "Specialty Alterations". If Tenant fails to complete such removal and/or to repair by the end of the Lease Term, Landlord may do so and may charge the cost thereof to Tenant. Notwithstanding any other provision of this Article 8 to the contrary, in no event shall Tenant remove any improvement from the Premises as to which Landlord contributed payment, including the Tenant Improvements, without Landlord's prior written consent, which consent Landlord may withhold in its sole and absolute discretion. Under no circumstance shall Landlord require Tenant to remove or restore (or pay for the removal or restoration of the Tenant Improvements constructed in accordance with the Work Letter to the extent the same are not Specialty Alterations; provided that Landlord agrees that the cost for such improvements were paid for by Tenant and shown on the Final Space Plan attached to the extent any such costs exceed any allowance provided by Landlord. Unless required to adopt a contrary position as a result of an administrative or judicial proceeding, the parties shall take no action inconsistent with, the intentions set forth in this paragraph. The parties will provide each other with such cooperation as is reasonably necessary to implement the intentions of this paragraphLease are not Specialty Alterations.