Title to the Facilities. During the Lease Term, all right, title, and interest in the Facilities and any and all additions, repairs, replacements or modifications thereto, whether made by the Lessee or the Lessor, shall be held in the name of the Lessor until conveyed to the Lessee as provided in this Lease. Provided that an Event of Default has not occurred and is continuing under this Lease, at such time as the principal and interest on the Bonds have been paid in full, the Lessor shall transfer and convey all its right, title and interest in the Facilities to the District, free and clear of all liens and encumbrances, except Permitted Encumbrances.
Appears in 4 contracts
Samples: Facilities Lease Agreement, Facilities Lease Agreement, Facilities Lease Agreement
