Common use of Ownership of Alterations and Improvements Clause in Contracts

Ownership of Alterations and Improvements. Subject to Landlord's right to require their removal or to become the owner thereof as hereinafter provided in this Paragraph 10(d), all alterations and improvements made to the Premises by Tenant shall be the property of and owned by Tenant, but considered a part of the Premises. Landlord shall, at the time Tenant requests the right to make an alteration or improvement, elect in writing to Tenant to be the owner of all or any specified portion of the Tenant-owned alterations and improvements. Unless otherwise elected by Landlord as hereinafter set forth, all alterations and improvements shall, at the expiration or earlier termination of this Lease, become the property of Landlord and remain upon and be surrendered by Tenant with the Premises.