The Project Improvements During the Term; Upon Termination of the Term. All construction materials and consumables that will be incorporated into and constitute the Project Improvements to be constructed on the Leased Premises will be deemed donated to Landlord prior to the installation thereof (collectively, the “Donated Construction Materials”), and title to all of such Project Improvements shall be and remain in Landlord for and during the Term. Tenant does not and will not own any part of the Leased Premises (neither the Land, Project Improvements or any other Improvements, nor any personal property owned by Landlord) during the Term of this Agreement. Xxxxxxxx’s acceptance of such donation is made solely as landlord hereunder and not as a developer or operator of the Project Improvements, and such acceptance shall in no way be deemed, interpreted or construed to modify, reduce or compromise in any manner whatsoever Tenant’s obligations set forth in this Lease or relieve Tenant from any such obligations, including the insurance requirements set forth in this Lease. Further, Landlord makes no representation or warranty whatsoever as to the tax consequences of donations contemplated by the terms of this Section 15.1.1. As long as such Donated Construction Materials are consistent with the Project Plans, incorporated into the Project Improvements, installed in a good and workmanlike manner, and used in the operation of the Leased Premises, Landlord shall not have the right to reject title to any of such Donated Construction Materials, and Xxxxxxxx’s rights and powers with respect to the Donated Construction Materials are subject to the terms and limitations of this Lease. Notwithstanding anything herein to the contrary, but subject to Section 26.11.4, Tenant shall retain title to the Personal Property located in the Project Improvements and, to the extent provided in Section 22.2, shall upon the Lease Expiration Date remove and retain title to any or all Personal Property located in the Project Improvements.
The Project Improvements During the Term; Upon Termination of the Term. Upon Owner’s payment of the Purchase Price, and except as may otherwise be set forth in the Note and Letter of Credit issued by Owner to MEDC, if any, all construction materials, consumables, improvements, repairs, alterations and all other property attached or otherwise installed as fixture on or in the Complex Site, or that shall be incorporated into and constitute the Project Improvements to be constructed on the Complex Site shall, immediately upon the completion of their installation, become part of the Complex Site, and shall be deemed owned by Owner, and title to all of such Project Improvements shall be and remain in Owner (or Affiliates or other parties over whom Owner maintains legal and operational control).
