Rights in Tenant Improvements. Notwithstanding anything to the contrary in this Lease, all Tenant Improvements existing on the Leased Property or constructed upon each Leased Property pursuant to Section 8.01, any and all subsequent additions thereto and alterations and replacements thereof shall be the sole and absolute property of Tenant during the Term and any Extension Term, as the case may be, of this Lease (in respect of such Leased Property). Upon the expiration or early termination of this Lease in respect of a Leased Property, all such Tenant Improvements located thereon shall become the property of Landlord. Without limiting the generality of the foregoing, prior to the expiration or early termination of this Lease in respect of a Leased Property, Tenant shall be entitled to all federal and state income tax benefits associated with all Tenant Improvements located on such Leased Property.
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Samples: Lease Agreement (Lithia Motors Inc), Lease Agreement (Capital Automotive Reit), Lease Agreement (Capital Automotive Reit)
Rights in Tenant Improvements. Notwithstanding anything to ------------------------------ the contrary in this Lease, all Tenant Improvements existing on the Leased Property or constructed upon each Leased Property pursuant to Section 8.01, any and all subsequent additions thereto and alterations and replacements thereof shall be the sole and absolute property of Tenant during the Term and any Extension Term, as the case may be, of this Lease (in respect of such Leased Property). Upon the expiration or early termination of this Lease in respect of a Leased Property, all such Tenant Improvements located thereon shall become the property of Landlord. Without limiting the generality of the foregoing, prior to the expiration or early termination of this Lease in respect of a Leased Property, Tenant shall be entitled to all federal and state income tax benefits associated with all Tenant Improvements located on such Leased Property.
Appears in 3 contracts
Samples: Lease Agreement (Capital Automotive Reit), Lease Agreement (Capital Automotive Reit), Lease Agreement (Capital Automotive Reit)
Rights in Tenant Improvements. Notwithstanding anything to the ------------------------------ contrary in this Lease, all Tenant Improvements existing on the Leased Property or constructed upon each Leased Property pursuant to Section 8.01, any and all subsequent additions thereto and alterations and replacements thereof shall be the sole and absolute property of Tenant during the Term and any Extension Term, as the case may be, of this Lease (in respect of such Leased Property). Upon the expiration or early termination of this Lease in respect of a Leased Property, all such Tenant Improvements located thereon shall become the property of Landlord. Without limiting the generality of the foregoing, prior to the expiration or early termination of this Lease in respect of a Leased Property, Tenant shall be entitled to all federal and state income tax benefits associated with all Tenant Improvements located on such Leased Property.
Appears in 3 contracts
Samples: Lease Agreement (Capital Automotive Reit), Lease Agreement (Capital Automotive Reit), Lease Agreement (Capital Automotive Reit)
Rights in Tenant Improvements. Notwithstanding anything to the ----------------------------- contrary in this Lease, all Tenant Improvements existing on the Leased Property or constructed upon each Leased Property pursuant to Section 8.01, any and all subsequent additions thereto and alterations and replacements thereof shall be the sole and absolute property of Tenant during the Term and any Extension Term, as the case may be, of this Lease (in respect of such Leased Property). Upon the expiration or early termination of this Lease in respect of a Leased Property, all such Tenant Improvements located thereon shall become the property of Landlord. Without limiting the generality of the foregoing, prior to the expiration or early termination of this Lease in respect of a Leased Property, Tenant shall be entitled to all federal and state income tax benefits associated with all Tenant Improvements located on such Leased Property.
Appears in 2 contracts
Samples: Lease Agreement (Capital Automotive Reit), Real Property Purchase Agreement (Capital Automotive Reit)
Rights in Tenant Improvements. Notwithstanding anything to the contrary in this Lease, all Tenant Improvements and Capital Additions existing on the Leased Property Properties or constructed upon each Leased Property pursuant to Section 8.01, any and all subsequent additions thereto and alterations and replacements thereof shall be the sole and absolute property of Tenant during the Term and any Extension Term, as the case may be, of this Lease (in respect of such Leased Property). Upon the expiration or early termination of this Lease in respect of a Leased Property, all such Tenant Improvements and Capital Additions located thereon shall become the sole and absolute property of Landlordthe Landlord (or the Tenant to the extent that the Tenant has purchased such Leased Property pursuant to Article XVI). Without limiting the generality of the foregoing, prior to the expiration or early termination of this Lease in respect of a Leased Property, Tenant shall be entitled to all federal and state income tax benefits associated with all Tenant Improvements and Capital Additions located on such Leased Property.
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