Improvement Ownership Sample Clauses

Improvement Ownership. Until the expiration or sooner termination of this Lease (subject, however, to the rights of the holder of any leasehold Mortgagee(s) to obtain a new lease as set forth in Section 16 hereof), title to any building or buildings or improvements situate or erected on the demised premises and the building equipment and other items installed thereon and any alterations, changes or additions thereto shall remain solely in Tenant; and Tenant alone shall be entitled to deduct all depreciation on Tenant's income tax returns for any such building or buildings, building equipment and/or other items, improvements, additions, changes or alterations.
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Improvement Ownership. The parties acknowledge and agree that after the expiration, cancellation, nonrenewal or termination of this Amended and Restated Lease, the CITY and OCWUT shall own the improvements to the Amended Leased Property, free and clear of any lien, encumbrance or claim. Further, the parties acknowledge and agree that during the terms of this Amended and Restated Lease, Lessee may remove and replace certain improvements to the Amended Leased Property. However, the parties agree that Lessee shall not sell, dispose of or destroy any improvements to the Amended Leased Property to thwart or significantly impact or affect the right of the CITY or OCWUT to the improvements, excluding reasonable wear and tear, after the termination, expiration, cancellation or non-renewal of this Amended and Restated Lease. Except that Lessee shall be permitted to remove personal property. However, if this Amended and Restated Lease Agreement is cancelled or terminated prior to the expiration of the Initial Term by OCWUT for no cause, OCWUT shall pay to the Lessee the straight line depreciation of all capital improvements constructed on the Amended Leased Property by the Lessee during the Initial Term. The straight line method calculates depreciation by spreading the cost of the improvement, evenly from the date the improvement was placed into service, over the remaining term of the Amended and Restated Lease Agreement. The required variables for calculating depreciation are the cost and the remaining term of the Amended and Restated Lease Agreement (SL=Cost/Remaining Term). Lessee shall provide all the necessary documentation as required by OCWUT to support the capital improvement costs and subsequent verification of values by OCWUT or its agent.
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Improvement Ownership. It is understood that until payment of the full Purchase Price the Improvements either under construction or completed, and all materials and supplies stored or installed on the Property, remain the property of Seller. Seller has the right to substitute materials and appliances of substantially equal quality, pattern and design if it is unable to timely obtain the exact materials indicated on the Plans and Specifications through Seller’s ordinary and usual sources. It is also understood that dimensions may vary somewhat according to field conditions.
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Improvement Ownership. 8 6.06 Disposition at Lease Termination.................................8 ARTICLE VII....................................................................8
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Related to Improvement Ownership

  • School Improvement The conditions which follow shall govern employee participation in any and all plans, programs, or projects included in the terms, site-based decision making, school improvement, effective schools as provided in Act 197, P.A. 1987 (Section 15.1919 (919b) MSA) or other similar plans:

  • Improvement Any alteration to the land or other physical construction located on or off the Property that is associated with this subdivision/PUD and building site developments.

  • Improvement Plan A written plan developed by the evaluator, utilized when a teacher received a Rating of Ineffective on his/her Evaluation or on any individual deficiency in the evaluation system.

  • Improvements The buildings, structures, fixtures, additions, enlargements, extensions, modifications, repairs, replacements and improvements now or hereafter erected or located on the Land (collectively, the “Improvements”);

  • Improvement Plans A. A professional improvement plan is a clearly articulated assistance program for a teacher whose student growth measure dimension of the evaluation is below the expected level of student growth. For the purposes of this agreement, improvement plans shall be based on the individual student growth measure level, and not for overall subjects or classes taught.

  • Initial Improvements Landlord shall cause to be constructed, in a good workmanlike manner, the improvements (the “Initial Improvements”) in the Premises in accordance with plans and specifications approved by Tenant and Landlord (the “Plans”), which approvals shall not be unreasonably withheld. The Initial Improvements shall be performed at the Landlord’s cost. Landlord shall cause the Plans to be prepared by a professional architect, and mechanical and electrical engineer(s) and based upon the space plans as shown on Appendix C-1 attached hereto using building standard finishes. Within ten (10) business days after the later to occur of (i) the mutual execution of the Lease or (ii) Tenant’s providing to Landlord the preliminary space plans for the Premises and such other information reasonably required by Landlord to commence preparation of the Plans, Landlord shall furnish the initial draft of the Plans to Tenant for Tenant’s review and approval. Tenant shall, within ten (10) days after receipt, either provide comments to such Plans or approve the same. Tenant shall be deemed to have approved such Plans if it does not timely provide comments on such Plans. If Tenant provides Landlord with comments to the initial draft of the Plans, Landlord shall provide revised Plans to Tenant incorporating Tenant’s comments within one (1) week after receipt of Tenant’s comments. Tenant shall, within five (5) business days after receipt, then either provide comments to such revised Plans or approve such Plans. Tenant shall be deemed to have approved such revised Plans if Tenant does not timely provide comments on such Plans. The process described above shall be repeated, if necessary, until the Plans have been finally approved by Tenant and Landlord; provided, however, if Landlord and Tenant cannot, despite using good faith efforts, reach agreement with respect to the Plans by June 15, 2005, then either Landlord or Tenant may terminate this Lease upon delivery of written notice to the other, whereupon (i) Landlord shall return to Tenant any prepaid Rent and (ii) the parties shall have no further rights or obligations under this Lease. Landlord hereby agrees that the Plans for the Initial Improvements shall comply with all applicable Governmental Requirements. Once the Plans have been finally approved, Landlord will promptly prepare all necessary construction drawings for the construction of the Initial Improvements. Upon the completion of such construction drawings, Landlord shall submit the same to Tenant for its approval. Tenant shall, within five (5) days after receipt, then either provide comments to such drawings or approve the same. Tenant shall be deemed to have approved such drawings if Tenant does not timely provide comments thereto. If Tenant timely provides any comments to such drawings, Landlord shall revise such drawings and resubmit the same to Tenant for its review and approval. Until such time as Landlord and Tenant mutually approve such construction drawings, the process described above shall be repeated as reasonably necessary, and both Landlord and Tenant agree to act in good faith in order to derive mutually acceptable construction drawings for the construction of the Initial Improvements. Once the Plans and all construction drawings relative thereto have been finalized and approved by Tenant and Landlord, Landlord shall promptly (i) submit the same to the appropriate governmental authorities for the issuance of all necessary building permits, and (ii) select a contractor to perform the construction of the Initial Improvements. Landlord shall use commercially reasonable efforts to cause the Initial Improvements to be substantially completed, except for mechanical adjustments or minor details of construction (“Punch List Items”), on or before July 1, 2005 (the “Intended Completion Date”), subject to Tenant Delay (as defined in Section 4 hereof) and Force Majeure.

  • CONSTRUCTION AND IMPROVEMENTS Concessionaire shall not affix, alter, or erect any permanent or temporary equipment, structures, buildings, or additions to the Concession Premises without first obtaining the prior written approval of Department.

  • Needs Improvement the Educator’s performance on a standard or overall is below the requirements of a standard or overall, but is not considered to be unsatisfactory at this time. Improvement is necessary and expected.

  • Tenant's Improvements If the Lessor is the Insuring Party, the Lessor shall not be required to insure Lessee Owned Alterations and Utility Installations unless the item in question has become the property of Lessor under the terms of this Lease. If Lessee is the Insuring Party, the policy carried by Lessee under this Paragraph 8.3 shall insure Lessee Owned Alterations and Utility Installations.

  • Project 3.01. The Recipient declares its commitment to the objectives of the Project. To this end, the Recipient shall carry out the Project in accordance with the provisions of Article IV of the General Conditions.

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