Ownership of Lessee Installed Improvements and Property Sample Clauses

Ownership of Lessee Installed Improvements and Property. All Improvements that are affixed to the Premises are a leasehold improvement and title thereto shall vest with County upon the expiration or earlier termination of this Agreement, unless otherwise agreed by the Parties. All installations at the Premises or any Airport property, including, but not limited to, cable, electric, and telecommunications, shall be deemed Improvements, and ownership shall vest in County upon installation. Lessee shall retain ownership of moveable trade fixtures, equipment, and other personal property installed and paid for by Lessee, except as may be otherwise provided in this Agreement or other agreements.
Sample 1
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Related to Ownership of Lessee Installed Improvements and Property

  • Equipment and Property A. The Grantee must ensure equipment with a per-unit cost of $5,000 or greater purchased with grant funds under this award is used solely for the purpose of this Grant or is properly pro-rated for use under this Grant. Grantee must have control systems to prevent loss, damage, or theft of property funded under this Grant. Grantee shall maintain equipment management and inventory procedures for equipment, whether acquired in part or whole with grant funds, until disposition occurs. B. When equipment acquired by Grantee under this Grant Agreement is no longer needed for the original project or for other activities currently supported by System Agency, the Grantee must properly dispose of the equipment pursuant to 2 CFR and/or TxGMS, as applicable. Upon termination of this Grant Agreement, use and disposal of equipment by the Grantee shall conform with TxGMS requirements. C. Grantee shall initiate the purchase of all equipment approved in writing by the System Agency in accordance with the schedule approved by System Agency, as applicable. Failure to timely initiate the purchase of equipment may result in the loss of availability of funds for the purchase of equipment. Requests to purchase previously approved equipment after the first quarter in the Grant Agreement must be submitted to the assigned System Agency contract manager. D. Controlled Assets include firearms, regardless of the acquisition cost, and the following assets with an acquisition cost of $500 or more, but less than $5,000: desktop and laptop computers (including notebooks, tablets and similar devices), non-portable printers and copiers, emergency management equipment, communication devices and systems, medical and laboratory equipment, and media equipment. Controlled Assets are considered supplies. E. System Agency funds must not be used to purchase buildings or real property without prior written approval from System Agency. Any costs related to the initial acquisition of the buildings or real property are not allowable without written pre-approval.

  • Personal Property In addition to the real property described in Section II, the Seller shall include the following personal property:

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