Rights in Tenant Improvements. All Tenant Improvements shall be the property of Landlord. However, Tenant shall be entitled to all federal and state income tax benefits associated with any Tenant Improvement during the Lease Term exclusive of any Capital Expenditures paid for from amounts credited to the Capital Replacement Fund, as to which Landlord shall be entitled all income tax benefits.
Appears in 16 contracts
Samples: Secondary Collateral Pledge Agreement (Golf Trust of America Inc), Lease (Golf Trust of America Inc), Pledge Agreement (Golf Trust of America Inc)
Rights in Tenant Improvements. All Tenant Improvements shall be the property of Landlord, except to the extent necessary for Tenant to have title in order for Tenant to be entitled to federal and state income tax benefits associated with Tenant Improvements as hereinafter stated. However, Tenant shall be entitled to all federal and state income tax benefits associated with any Tenant Improvement during the Lease Term exclusive of any Capital Expenditures paid for from amounts credited to the Capital Replacement Fund, as to which Landlord shall be entitled all income tax benefits.
Appears in 1 contract
Samples: Lease (Golf Trust of America Inc)