Project Property of the Issuer. All Improvements, all work and materials on Improvements as such work progresses, any Project Additions, anything under this Project Lease which becomes, is deemed to be, or constitutes a part of the Project, and the Project as fully completed, repaired, rebuilt, rearranged, restored or replaced by the Tenant under the provisions of this Project Lease, except as otherwise specifically provided herein, shall immediately when erected or installed become the absolute property of the Issuer. Any Improvements which become a part of the real estate as fixtures shall remain separate from the Tenant's property unless and until purchased by the Tenant from the Issuer as provided in this Project Lease.
Project Property of the Issuer. All Improvements, all work and materials on the Improvements as such work progresses, any Project Additions, anything under this Lease which becomes, is deemed to be, or constitutes a part of the Project, and the Project as repaired, rebuilt, rearranged, restored or replaced by the Company under the provisions of this Lease, except as otherwise specifically provided herein, shall immediately when erected or installed become the property of the Issuer. In the event this Lease is deemed to be a security agreement with respect to any of such Improvements or Project Additions, the Company hereby grants the Issuer a security interest in the Improvements and Project Additions, and all attachments, accessions, additions, substitutions, replacements and proceeds thereof (including insurance proceeds) (collectively “Collateral”) to secure all payments of Basic Rent and Additional Rent and all obligations, covenants and agreements to be performed by the Company hereunder, and agrees that this security interest shall be prior to all other security interests in the Collateral.
Project Property of the Issuer. The Project Site and all Project Improvements located thereon at the execution hereof and which the Tenant desires to convey to the Issuer, all work and materials on the Project Improvements as such work progresses, and all additions or enlargements thereto or thereof, the Project as fully completed, including Project Equipment, anything under this Lease which becomes, is deemed to be, or constitutes a part of the Project, and the Project as repaired, rebuilt, rearranged, restored or replaced by the Tenant or Xxxxxx’s Delegee under the provisions of this Lease, including without limitation any of such items done by a Tenant’s Delegee, except as otherwise specifically provided herein, shall immediately when erected or installed become the absolute property of the Issuer, subject only to Permitted Encumbrances and this Lease.
