Ownership of Improvements During Term. All buildings and improvements constructed on the Premises by Tenant as permitted or required by this Lease shall, during this Lease Term, be and remain the property of Tenant; provided, however, that Tenant shall have no right to waste, destroy, demolish or remove the improvements except as expressly provided in this Lease; and provided, further, that Xxxxxx's rights and powers with respect to the improvements are subject to the terms and limitations of this Lease. City and Tenant covenant for themselves, and all persons claiming under or through them, that the improvements are real property. All buildings and improvements existing on the Premises, as of the date of this Lease are City's property, free of all claims to or against them by Tenant or any third person.
Ownership of Improvements During Term. Until the expiration of the Term or sooner termination of this Lease, and except as specifically provided herein, Lessee shall own all Improvements now existing and constructed by Lessee or its predecessors on the Premises, or hereafter constructed by Lessee upon the Premises, and all alterations, additions or modifications made thereto by Xxxxxx.
Ownership of Improvements During Term. Concessionaire shall own all structures, buildings or improvements now existing or thereafter constructed by Concessionaire upon the Premises, and all alterations, additions, or betterments made thereto by Concessionaire, until the expiration of the Term or sooner termination of this Contract.
Ownership of Improvements During Term. Title to all Improvements constructed or placed on the Premises by Xxxxxx are and shall be vested in Lessee until the expiration or earlier termination of this Lease. County and Lessee agree for themselves and all persons claiming under County and Xxxxxx that the Improvements are real property. During the Term, Lessee shall have the exclusive right to all tax benefits arising from any and all Improvements.
Ownership of Improvements During Term. During the Lease Term, title to any and all Improvements, including, without limitation, buildings, parking areas, drives, walkways, landscape improvements and infrastructure improvements such as roadways, utilities, mains and lines, curbs and drainage facilities, which are constructed, installed or erected on the Leased Premises by Tenant during the Lease Term shall vest in Tenant and its permitted successors and assigns (unless any such improvements are dedicated to the local municipality or applicable utility service provider or attached and/or affixed to any building by Tenant), shall remain with Tenant and its permitted successors and assigns during the Lease Term or until the Expiration Date or earlier termination or cancellation of this Lease and shall thereupon automatically vest in Landlord as provided in Section 13.16, below. Notwithstanding the foregoing, title to any and all FF&E (as defined in Section 13.16, below) belonging to Tenant or any subtenant, shall keep and retain their character as personal property, shall not be deemed to be a part of the Leasehold Estate, and shall be and remain the property of Tenant or its subtenant, as applicable, during the Lease Term and thereafter, following the Expiration Date. Similarly, if this Lease is terminated as a result of Tenant exercising the Option, all Improvements shall be and remain the property of Tenant or its subtenant from and after the Option Closing.
Ownership of Improvements During Term. All buildings and improvements constructed on the Leased Premises by XXXXXX as permitted or required by this Lease shall, during this Lease Term, be and remain the property of LESSEE; provided, however, that LESSEE shall have no right to waste, destroy, demolish or remove the improvements except as expressly provided in this Lease; and provided, further, that XXXXXX 's rights and powers with respect to the improvements are subject to the terms and limitations of this Lease. COUNTY and LESSEE covenant for themselves, and all persons claiming under or through them, that the improvements are real property. All buildings and improvements existing on the Leased Premises, as of the date of this Lease are COUNTY's property, free of all claims to or against them by XXXXXX or any third person.
Ownership of Improvements During Term. All Improvements on the Property at the Commencement Date and all Improvements constructed on the Property by Xxxxxx as permitted by this Lease shall be owned by Tenant until expiration of the Term or sooner termination of this Lease. Tenant shall not, however, remove any Improvements from the Property nor waste, destroy, or modify any Improvements on the Property, except as permitted by this Lease. The parties covenant for themselves and all persons claiming under them that the Improvements are real property.
Ownership of Improvements During Term. All improvements constructed on the Fleet Parking Units by ISBA (or Sub-sublessees), shall, during the Term, be and remain the property of ISBA and/or such Sub-sublessees who, respectively, construct the same or as otherwise may be provided in any applicable Sub-sublease or assignment. ISBA and Agency covenant for themselves and all persons claiming under or through them (including Sub-sublessees as to the Fleet Parking Units) that the right, title and interest in such improvements (excluding fixtures and other tangible personal property that can be removed without damaging the structure of the Fleet Parking Units) shall revert to and become the property of County on the expiration of the Term or earlier termination of this Fleet Parking Sublease (subject to the rights of non-disturbance granted to Sub-sublessees pursuant to this Fleet Parking Sublease).
Ownership of Improvements During Term. During the Term of this Lease, the Improvements, including all buildings, structures, fixtures, additions and improvements located on the Property (other than personal property owned by Landlord or others) shall be owned in fee by Xxxxxx; provided, however, that Xxxxxx's rights and powers with respect to such Improvements are subject to the terms and limitations of this Lease and Xxxxxx's interest in such Improvements shall terminate upon the expiration or sooner termination of this Lease. Landlord and Tenant covenant for themselves and all persons claiming under or through them that the Improvements are real property. The parties hereto agree that Tenant shall bear all risk of loss with respect to the Improvements and that the benefits and burdens of ownership of the Improvements are vested in Tenant. It is the intention of the parties that the Tenant be treated as owner of the Improvements for federal income tax purposes and shall have all the rights incidental thereto including, without limitation, the right to claim tax credits and depreciation deductions with respect to the Improvements.
Ownership of Improvements During Term. All improvements constructed by Lessee on the Premises shall be owned by Lessee until expiration of the term or sooner termination of this lease. Unless Lessor requires their removal, as set forth in Paragraph 11.2 below, all alterations, improvements, additions and utility installations (whether or not such utility installations constitute trade fixtures of Lessee), which may be made on the Premises, shall become the property of Lessor and remain upon and be surrendered with the Premises at the expiration of the term, maintained and repaired in accordance with the provisions of this lease, ordinary wear and tear excepted.
