Common use of Rights in Tenant Improvements Clause in Contracts

Rights in Tenant Improvements. Notwithstanding anything to the contrary in this Lease, all Tenant Improvements constructed pursuant to Section 10.1, and any and all subsequent additions thereto and alterations and replacements thereof, shall be the sole and absolute property of Tenant during the Term of this Lease. Upon the expiration or early termination of this Lease, all such Tenant Improvements shall become the property of Landlord. Without limiting the generality of the foregoing, Tenant shall be entitled to all federal and state income tax benefits associated with any Tenant Improvement during the Term of this Lease.

Appears in 3 contracts

Samples: Lease Agreement (Presidio Golf Trust), Lease Agreement (Presidio Golf Trust), Lease (National Golf Properties Inc)

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Rights in Tenant Improvements. Notwithstanding anything to the ----------------------------- contrary in this Lease, all Tenant Improvements constructed pursuant to Section ------- 10.1, and any and all subsequent additions thereto and alterations and ---- replacements thereof, shall be the sole and absolute property of Tenant during the Term of this Lease. Upon the expiration or early termination of this Lease, all such Tenant Improvements shall become the property of Landlord. Without limiting the generality of the foregoing, Tenant shall be entitled to all federal and state income tax benefits associated with any Tenant Improvement during the Term of this Lease.

Appears in 1 contract

Samples: Lease (National Golf Properties Inc)

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Rights in Tenant Improvements. Notwithstanding anything to ----------------------------- the contrary in this Lease, all Tenant Improvements constructed pursuant to Section 10.1, and any and all subsequent additions thereto and alterations and ------------ replacements thereof, shall be the sole and absolute property of Tenant during the Term of this Lease. Upon the expiration or early termination of this Lease, all such Tenant Improvements shall become the property of Landlord. Without limiting the generality of the foregoing, Tenant shall be entitled to all federal and state income tax benefits associated with any Tenant Improvement during the Term of this Lease.

Appears in 1 contract

Samples: Lease (National Golf Properties Inc)

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