Common use of Ownership of Alterations and Improvements Clause in Contracts

Ownership of Alterations and Improvements. Other than those leasehold improvements which are installed and become such a part of the Premises that they cannot be removed without substantial injury to the Premises, which improvements shall immediately become the property of the Port following installation, Concessionaire shall retain ownership of all furniture, trade fixtures and equipment from time to time installed in the Premises by Concessionaire at its expense (the “Removable Fixtures”). Concessionaire may remove any of the Removable Fixtures at any time during the term and shall remove all thereof prior to the expiration of the term. Any Removable Fixtures or other property of Concessionaire not removed at the expiration of the term shall, at the election of the Port, become the property of the Port without payment to Concessionaire, or be deemed abandoned and removed by the Port, at Concessionaire’s expense. Upon any removal of such property, Concessionaire shall promptly repair any and all damage to the Premises caused thereby and reimburse the Port for its costs and expenses in removing any such property not removed by Concessionaire and repairing any such damage not repaired by Concessionaire; this covenant shall survive the termination of this Agreement.

Ownership of Alterations and Improvements. Other than those leasehold improvements which are installed and become such a part of the Premises that they cannot be removed without substantial injury to the Premises, which said improvements shall immediately become the property of the Port following installation, Concessionaire shall retain ownership of all furniture, trade fixtures and equipment from time to time installed in the Premises by Concessionaire at its sole expense (the “Removable Fixtures”). Concessionaire may remove any of the Removable Fixtures at any time during the term and shall remove all thereof prior to the expiration of the term. Any Removable Fixtures or other property of Concessionaire not removed at the expiration of the term shall, at the election of the Port, become the property of the Port without payment to Concessionaire, or be deemed abandoned and removed by the Port, at Concessionaire’s expense. Upon any removal of such property, Concessionaire shall promptly repair any and all damage to the Premises caused thereby and reimburse the Port for its costs and expenses in removing any such property not removed by Concessionaire and repairing any such damage not repaired by Concessionaire; this covenant shall survive the termination of this Agreement.

Ownership of Alterations and Improvements. Other than those leasehold improvements Leasehold Improvements which are installed and become such a part of the Leased Premises that they cannot be removed without causing substantial injury damage to the Leased Premises, which improvements shall immediately become the property of the Port Authority following installation, Concessionaire shall retain ownership of all furniture, trade fixtures Trade Fixtures, and equipment from time to time installed in the Leased Premises by Concessionaire at its expense (the “Removable Fixtures”). Concessionaire may remove any of the Removable Fixtures at any time during the term and Term and, unless otherwise agreed in writing by the Authority, shall remove all thereof prior to the expiration of the termTerm. Any Removable Fixtures or other property of Concessionaire not removed at the expiration of the term shall, at the election of the PortAuthority, become the property of the Port Authority without payment to Concessionaire, or be deemed abandoned and removed by the PortAuthority, at Concessionaire’s expense. Upon any removal of such property, Concessionaire shall promptly repair any and all damage to the Leased Premises caused thereby and reimburse the Port Authority for its costs and expenses in removing any such property not removed by Concessionaire and repairing any such damage not repaired by Concessionaire; this covenant shall survive the expiration or earlier termination of this Lease Agreement.