Company’s Improvements. Upon termination of this Agreement (whether by expiration, termination, forfeiture, repurchase or otherwise), title to Company’s Improvements will vest in Authority and will be treated in all respects as incorporated into the description of Premises, as defined in this Agreement.
Company’s Improvements. As part of the consideration hereof, Company covenants and agrees to design and construct, at Company’s sole expense, the following minimum improvements on the Leased Premises, which are further depicted on Exhibit “3”, Company’s Improvements, attached hereto and made a part hereof. In no event will Authority be required to reimburse Company for any sums expended by Company for Company’s Improvements as defined in this Agreement.
Company’s Improvements. A. Company will be responsible for the complete design, construction and maintenance costs of all automobile parking area, infrastructure, landscaping, irrigation, sidewalks, lighting and other customary appurtenances for Hangar 4.
Company’s Improvements. Upon expiration of the first 25 years of the term of this Agreement, title to Company’s Improvements will vest in Authority. At such time, a fair market rental value (FMRV) appraisal of Company’s Improvements will be performed by a duly qualified and licensed appraiser, selected, appointed and paid by Authority. Such appraised FMRV will establish the rental obligation, on a triple net basis, for Company’s Improvements rental payment obligation by Company to Authority during the remaining term and any approved renewal terms of the Agreement.
