Common use of Ownership of Tenant Improvements Clause in Contracts

Ownership of Tenant Improvements. The Tenant Improvements shall be deemed, effective upon installation, to be a part of the Premises and the Building and shall be deemed to be the property of Landlord (subject to Tenant's right to use the same during the Term of the Lease), and shall be surrendered at the expiration or earlier termination of the Term, unless Landlord shall have conditioned its approval of the Space Plans, Final Working Drawings or any Change Order on Tenant's agreement to remove any Specialty Item thereof, in which event, prior to the expiration or termination of the Term, the specified items shall be removed at Tenant's expense, any damage caused by such removal shall be repaired, and the Premises shall be restored to their condition existing prior to the installation of the items in question, normal wear and tear excepted; provided, however, that Landlord may not require removal of any Specialty Item shown on the Final Working Drawings or any Change Order that was also shown on the Space Plans unless Landlord conditioned its approval of the Space Plans on such removal. The removal, repair and restoration described above shall, at Landlord's sole election, be performed either by Tenant or by Landlord; and if such work shall be performed by Landlord, Tenant shall pay to Landlord, within ten (10) days following Landlord's demand, the reasonable cost and expense of such work. As used herein, "Specialty Item" shall mean any of the Tenant Improvements that are not typically found in comparable first class multi-floor office premises, that cost materially more to demolish than do typical office installations, or that include internal staircases, any openings, cuts or penetrations in the floor slabs, sloping, terraced or raised floors, reinforced floor slabs, vaults and related supporting slabs, laboratory improvements, dumbwaiters, fire suppression or uninterrupted power supply systems, external signs, commercial grade kitchens and other improvements of a similar nature.

Ownership of Tenant Improvements. The Tenant Improvements shall be deemed, effective upon installation, to be a part of the Premises and the Building and shall be deemed to be the property of Landlord (subject to Tenant's ’s right to use the same during the Term of the Lease), and shall be surrendered at the expiration or earlier termination of the Term, unless Landlord shall have conditioned its approval of the Space Plans, Final Working Drawings or any Change Order on Tenant's ’s agreement to remove any Specialty Item items thereof, in which event, prior to the expiration or termination of the Term, the specified items shall be removed at Tenant's ’s expense, any damage caused by such removal shall be repaired, and the Premises shall be restored to their condition existing prior to the installation of the items in question, normal wear and tear excepted; provided, however, that Landlord may not require removal . Landlord’s right to condition its approval of any Specialty Item shown on the Final Working Drawings on Tenant’s agreement to remove items depicted thereon shall be limited to only those items of further detail, scale or any Change Order that was also shown on design of the Space Plans unless Landlord conditioned its approval schematic aspects of the Space Plans Plan attached as Exhibit D-1 in the Final Working Drawings to the extent not depicted on such removalSpace Plan or to the extent materially different from the depiction of such items on such Space Plan. As examples, (a) if the Space Plan depicts a file room and the further detail of the Final Work Drawings depict a reinforced floor within such file room, Landlord’s right to require removal of Tenant Improvements with respect to the file room would be limited to the reinforced floor, not the demising walls creating the file room and (b) if the Space Plan depicted certain finishes to the cabinetry in the kitchen and the Final Working Drawings depict another finish that is not materially different, Landlord shall not have the right to require removal of the cabinetry based on the change in the finishes. The removal, repair and restoration described above shall, at Landlord's ’s sole election, be performed either by Tenant or by Landlord; and if such work shall be performed by Landlord, Tenant shall pay to Landlord, within ten (10) days following Landlord's ’s demand, the reasonable cost and expense of such work. As used herein, "Specialty Item" shall mean any of the Tenant Improvements that are not typically found in comparable first class multi-floor office premises, that cost materially more to demolish than do typical office installations, or that include internal staircases, any openings, cuts or penetrations in the floor slabs, sloping, terraced or raised floors, reinforced floor slabs, vaults and related supporting slabs, laboratory improvements, dumbwaiters, fire suppression or uninterrupted power supply systems, external signs, commercial grade kitchens and other improvements of a similar nature.

Ownership of Tenant Improvements. The All Tenant Improvements shall be deemed, effective upon installation, to be a part of the Premises and the Building and paid for by Landlord shall be deemed to be the property owned by Landlord. EXHIBIT “E” APPROVED FORM OF LETTER OF CREDIT We hereby establish in your favor our irrevocable standby letter of Landlord (subject to Tenant's right to use the same during the Term credit number -which is available with [Approved Bank] by payment against presentation of the Leaseoriginal of this letter of credit and your drafts at sight drawn on [Approved Bank], accompanied by the documents detailed below: A letter signed by a purported authorized representative of the Beneficiary certifying that Beneficiary is entitled to draw on this Letter of Credit pursuant to that Standard Industrial Net Lease between BC Sorrento, LLC, a California limited liability company (“Beneficiary”), and Avanir Pharmaceuticals, a California corporation (“Avanir”) for the space located at 11404 and 10000 Xxxxxxxx Xxxxxx Xxxx, Xxx Xxxxx, Xxxxxxxxxx 00000, as the same may be amended form time to time. This letter of credit is irrevocable. Special conditions: This letter of credit shall be surrendered at automatically renew without amendment for an additional one year period from the current or for any future expiration or earlier termination of the Termdate, unless Landlord we shall have conditioned its approval notify you in writing by certified mail, return receipt requested or overnight courier at least 60 days prior to the then current expiration date that this letter of the Space Plans, Final Working Drawings or any Change Order on Tenant's agreement to remove any Specialty Item thereof, in which event, credit will not be renewed. Following such notification and prior to the expiration or termination of this letter of credit, you may draw upon this letter of credit by presentation of the Termsight draft(s) mentioned above and Beneficiary signed statement certifying that Avanir has failed to provide substitute letter of credit in the same principal amount, or such reduced principal amount as may be permitted by Section 1 of the specified items Lease, and on the same terms as this letter of credit from an issuer reasonably satisfactory to you. This letter of credit is transferable. Transfer of this letter of credit is subject to our consent and our receipt of Beneficiary’s instructions in the form attached as Exhibit A, accompanied by the original letter of credit and amendment(s) if any. All cost or expenses of such transfer shall be removed at Tenant's expensefor the account of the Beneficiary. Partial draws are allowed under this letter of credit. In no event will this letter of credit be extended beyond a full and final expiration date of December 31, any damage caused 2008. FIRST AMENDMENT TO STANDARD INDUSTRIAL NET LEASE (Avanir — Sorrento Plaza) This FIRST AMENDMENT TO STANDARD INDUSTRIAL NET LEASE is executed as of August 1, 2002, by such removal shall be repairedand between SORRENTO PLAZA, a California limited partnership (“Landlord”), and the Premises shall be restored to their condition existing prior AVANIR PHARMACEUTICALS, a California corporation (“Tenant”), with reference to the installation of the items in question, normal wear and tear excepted; provided, however, that Landlord may not require removal of any Specialty Item shown on the Final Working Drawings or any Change Order that was also shown on the Space Plans unless Landlord conditioned its approval of the Space Plans on such removal. The removal, repair and restoration described above shall, at Landlord's sole election, be performed either by Tenant or by Landlord; and if such work shall be performed by Landlord, Tenant shall pay to Landlord, within ten (10) days following Landlord's demand, the reasonable cost and expense of such work. As used herein, "Specialty Item" shall mean any of the Tenant Improvements that are not typically found in comparable first class multi-floor office premises, that cost materially more to demolish than do typical office installations, or that include internal staircases, any openings, cuts or penetrations in the floor slabs, sloping, terraced or raised floors, reinforced floor slabs, vaults and related supporting slabs, laboratory improvements, dumbwaiters, fire suppression or uninterrupted power supply systems, external signs, commercial grade kitchens and other improvements of a similar nature.facts:

Ownership of Tenant Improvements. The Tenant Improvements placed or installed in the Premises by Tenant shall be deemed, effective upon installation, to be a become part of the Premises and the Building and shall be deemed to be the property of Landlord (subject to Tenant's right to use the same during the Term of the Lease)Premises, and shall be surrendered at upon the expiration or earlier termination of this Lease title thereto shall vest in the TermAuthority (unless the Authority elects otherwise), unless Landlord shall have conditioned its except with respect to trade fixtures or equipment, which may be removed by Tenant provided (i) Tenant is not in default, (ii) such removal can be accomplished without damage to the Premises, and (iii) Tenant obtains the Authority’s approval of the Space Planssuch removal, Final Working Drawings or any Change Order on Tenant's agreement to remove any Specialty Item thereof, in which event, prior pursuant to the TAA Process as set forth in Section 7.5(c) hereof. Without limiting any of Tenant’s right to use and obligation to maintain Tenant Improvements and without in any way adding to the Authority’s obligations under this Lease, the Authority, for purposes of M.G.L. ch. 143, §3A, shall be deemed to retain title to an undivided 1/1000 interest in Tenant Improvements. Upon termination of Tenant’s occupancy of the Premises or the expiration or termination of the Term, Tenant shall, upon request of the specified items shall be removed at Tenant's expenseAuthority, remove any damage caused by such removal shall be repaired, Tenant Improvements and restore the Premises shall be restored to their condition existing prior to the installation condition as of the items in questiondate hereof, normal reasonable wear and tear excepted; provided, however, that Landlord may . If Tenant does not require removal of any Specialty Item shown on the Final Working Drawings or any Change Order that was also shown on the Space Plans unless Landlord conditioned its approval promptly remove such Tenant Improvements upon request of the Space Plans on Authority and restore the Premises, the Authority may enter the Premises and remove Tenant Improvements and restore the Premises. Tenant shall indemnify and save harmless the Authority from all injury, loss or damage to any person or property occasioned by said work, except to the extent such removalloss or damage arises as a result of the negligence or willful misconduct of the Authority. The removalTenant shall reimburse the Authority for any and all reasonable costs incurred in so doing, repair and restoration described above shalltogether with interest thereon, at Landlord's sole electionthe Default Rate, be performed either by Tenant or by Landlord; and if from the date the Authority incurred such work shall be performed by Landlord, Tenant shall pay to Landlord, within ten (10) days following Landlord's demand, the reasonable cost and expense of such work. As used herein, "Specialty Item" shall mean any of the Tenant Improvements that are not typically found in comparable first class multi-floor office premises, that cost materially more to demolish than do typical office installations, or that include internal staircases, any openings, cuts or penetrations in the floor slabs, sloping, terraced or raised floors, reinforced floor slabs, vaults and related supporting slabs, laboratory improvements, dumbwaiters, fire suppression or uninterrupted power supply systems, external signs, commercial grade kitchens and other improvements of a similar naturecosts until paid.

Ownership of Tenant Improvements. The Tenant Improvements shall be deemed, effective upon installation, to be a part of the Premises and the Building and shall be deemed to be the property of Landlord (subject to Tenant's right to use the same during the Term of the Lease), and shall be surrendered at the expiration or earlier termination of the Term, unless Landlord shall have conditioned its approval of the Space Plans, Final Working Drawings or any Change Order on Tenant's agreement to remove any Specialty Item items thereof, in which event, prior to the expiration or termination of the Term, the specified items shall be removed at Tenant's expense, any damage caused by such removal shall be repaired, and the Premises shall be restored to their condition existing prior to the installation of the items in question, normal wear and tear excepted; provided, however, that Landlord may not require removal of any Specialty Item shown on the Final Working Drawings or any Change Order that was also shown on the Space Plans unless Landlord conditioned its approval of the Space Plans on such removalshell condition. The removal, repair and restoration described above shall, at Landlord's sole election, be performed either by Tenant or by Landlord; and if such work shall be performed by Landlord, Tenant shall pay to Landlord, within ten twenty (1020) days following Landlord's demand, the reasonable cost and expense of such work. As used hereinLandlord agrees that (a) Tenant's removal, "Specialty Item" repair and restoration obligation respecting the Tenant Improvements shall mean any be limited to such portions of the Tenant Improvements that are Landlord reasonably designates, at the time of Landlord's approval of the Final Working Drawings or any Change Order, as specialized, nonreusable, and not typically found typical improvements for office spaces (including, without limitation, UPS, racks, generators, cabling, and raised floor systems), and (b) in comparable first class multi-floor office premises, that cost materially more no event shall Tenant be obligated to demolish than do typical office installations, or that include internal staircases, restore any openings, cuts or penetrations in the floor slabs, sloping, terraced or raised floors, reinforced floor slabs, vaults and related supporting slabs, laboratory improvements, dumbwaiters, fire suppression or uninterrupted power supply systems, external signs, commercial grade kitchens and other improvements of made by a similar nature.prior tenant. SCHEDULE 1 BASE BUILDING IMPROVEMENTS

Ownership of Tenant Improvements. The Tenant Improvements (including, but not limited to, all partitioning, window and wall coverings, and plumbing, lighting, electrical, and HVAC fixtures installed by Tenant) shall be deemed, effective upon installation, to be a part of the Premises and the Building and shall be deemed to be the property of Landlord (subject to Tenant's right to use the same during the Term Tenn of the Lease), provided, however, that with respect to any Tenant Improvements installed by Tenant with Tenant's funds (but not financed with the Tenant Improvement Allowance and the Additional Allowance), such Tenant-financed Tenant Improvements (a) shall be surrendered at the property of Tenant during the Term of the Lease, but Tenant shall not be entitled to remove such improvements, (b) such Tenant Improvements shall become the property of Landlord upon the expiration or earlier termination of this Lease without any obligation on the Termpart of Landlord to pay Tenant any compensation for such Tenant Improvements but subject to the restoration obligations set forth in this Section 10, unless and (e) Tenant shall have the right to claim any tax deductions for amortization or depreciation associated with such portion of the Tenant Improvements paid for by Tenant. With respect to any items of the Tenant Improvements for which Landlord shall have conditioned its approval of the Space Plans, Final Working Approved Construction Drawings or any Change Order Plan Modification on Tenant's agreement to remove any Specialty Item thereof, in which event, such items prior to the expiration or termination of the TermTenn, the specified items shall be removed at Tenant's expense, any damage caused by such removal shall be he repaired, and the Premises shall be restored to their condition existing prior to the installation of the items in question, normal wear and tear excepted; provided, however, that Landlord may not require removal of . Tenant shall have no obligation to remove any Specialty Item shown Tenant Improvement on the Final Working expiration or termination of this Lease not so identified by Landlord to be removed as a condition to Landlord's approval of the Approved Construction Drawings or any Change Order Tenant Improvement that was also shown on the Space Plans unless Landlord conditioned its approval of the Space Plans on such removalis not consistent with general business office improvements. The removal, repair and restoration described above shall, at Landlord's sole election, be performed either by Tenant or by Landlord; and if such work shall be performed by Landlord, Tenant shall pay to Landlord, within ten (10) days following Landlordat Tenant's demand, the reasonable sole cost and expense of such workexpense. As used herein, "Specialty Item" shall mean any Landlord hereby acknowledges that Landlord would not condition its approval of the Approved Construction Drawings for Tenant Improvements that are not typically found constructed substantially in comparable first class multi-floor conformance with the tenant improvements installed in Tenant's office premisesspace located at 000 Xxxxxxx Xxxxx, that cost materially more Xxxxxxxxx, Xxxxxxxxxx as of January 18, 2012 upon Tenant's agreement to demolish than do typical office installations, or that include internal staircases, any openings, cuts or penetrations in the floor slabs, sloping, terraced or raised floors, reinforced floor slabs, vaults and related supporting slabs, laboratory improvements, dumbwaiters, fire suppression or uninterrupted power supply systems, external signs, commercial grade kitchens and other improvements of a similar natureremove such Tenant Improvements.

Ownership of Tenant Improvements. The Tenant Improvements shall be deemed, effective upon installation, to be a part of the Premises and the Building and shall be deemed to be the property of Landlord (subject to Tenant's ’s right to use the same during the Term of the Lease), and shall be surrendered at the expiration or earlier termination of the Term, unless Landlord shall have conditioned its approval of the Space PlansPlan for the Phase II Premises, Final Working Drawings for either Phase or any Change Order on Tenant's ’s agreement to remove any Specialty Item items thereof, in which event, prior to the expiration or termination of the Term, the specified items shall be removed at Tenant's ’s expense, any damage caused by such removal shall be repaired, and the Premises shall be restored to their condition existing prior to the installation of the items in question, normal wear and tear excepted; provided, however, that Landlord may not require removal . Landlord’s right to condition its approval of any Specialty Item shown on the Final Working Drawings for the Phase I Premises on Tenant’s agreement to remove items depicted thereon shall be limited to only those items of further detail, scale or any Change Order that was also shown on design of the Space Plans unless Landlord conditioned its approval schematic aspects of the Space Plans Plan attached as Exhibit D-1 in the Final Working Drawings to the extent not depicted on such removalSpace Plan or to the extent materially different from the depiction of such items on such Space Plan. As examples, (a) if the Space Plan depicts a file room and the further detail of the Final Work Drawings depict a reinforced floor within such file room, Landlord’s right to require removal of Tenant Improvements with respect to the file room would be limited to the reinforced floor, not the demising walls creating the file room and (b) if the Space Plan depicted certain finishes to the cabinetry in the kitchen and the Final Working Drawings depict another finish that is not materially different, Landlord shall not have the right to require removal of the cabinetry based on the change in the finishes. The removal, repair and restoration described above shall, at Landlord's ’s sole election, be performed either by Tenant or by Landlord; and if such work shall be performed by Landlord, Tenant shall pay to Landlord, within ten (10) days following Landlord's ’s demand, the reasonable cost and expense of such work. As used herein, "Specialty Item" shall mean any of the Tenant Improvements that are not typically found in comparable first class multi-floor office premises, that cost materially more to demolish than do typical office installations, or that include internal staircases, any openings, cuts or penetrations in the floor slabs, sloping, terraced or raised floors, reinforced floor slabs, vaults and related supporting slabs, laboratory improvements, dumbwaiters, fire suppression or uninterrupted power supply systems, external signs, commercial grade kitchens and other improvements of a similar nature.