Common use of Title to Alterations Clause in Contracts

Title to Alterations. Tenant will retain title to all Alterations so long as such Alterations are not financed by Landlord or are not required by Legal Requirements or Insurance Requirements. Title to all Alterations that are financed by Landlord or are required by Legal Requirements or Insurance Requirements will vest in Landlord automatically upon the completion thereof. At the expiration or sooner termination of this Master Lease, with respect to the particular Demised Premises, Tenant shall (a) remove all Alterations which Tenant is required to remove in Section 8.1, and (b) have the right, at its election, to either remove all other Alterations to which it retains title as provided above and repair all damage to the Demised Premises caused by such removal, or to surrender the Alterations to Landlord, free and clear of all claims, right, title and interest of Tenant. Any Alterations not so removed by Tenant shall conclusively be deemed to be Landlord’s sole property and title thereto shall automatically vest in Landlord after such nonremoval and Landlord may retain or dispose of the same in its discretion without any accountability to Tenant; provided, however, that notwithstanding any surrender of the Demised Premises or the Alterations, Tenant shall remain liable to Landlord for all unrepaired damage as a result of any removal of Alterations and all of Landlord’s reasonable costs of such removal with respect to any such nonremoval.

Title to Alterations. Tenant All Alterations (including flooring, wall-to-wall carpet and wall covering) will retain title to all Alterations so long as such Alterations are not financed become, at Landlord’s election, immediately upon completion of their installation Landlord’s property without payment therefore by Landlord or are not required by Legal Requirements or Insurance Requirements. Title to all Alterations that are financed by Landlord or are required by Legal Requirements or Insurance Requirements and will vest in Landlord automatically upon remain on and be surrendered with the completion thereof. At Premises as a part thereof at the expiration or sooner termination of this Master Lease, with respect to the particular Demised Premises, Tenant shall (a) remove all Alterations which Tenant is required to remove in Section 8.1, and (b) have the right, at its election, to either remove all other Alterations to which it retains title as provided above and repair all damage to the Demised Premises caused by such removal, or to surrender the Alterations to Landlord, free and clear of all claims, right, title and interest of Tenant. Any Alterations not so removed by Tenant shall conclusively be deemed to be Landlord’s sole property and title thereto shall automatically vest in Landlord after such nonremoval and Landlord may retain or dispose end of the same in its discretion without any accountability to TenantTerm; provided, however, that notwithstanding if Tenant is not in default in the performance of any surrender of its obligations under this Lease, then, before the Term of this Lease ends, Tenant may remove, at Tenant’s sole cost, all movable furniture, furnishings, or equipment not affixed to or in the Premises. To the extent Landlord does not elect that any of the Demised Alterations (including any vaults, safes, file systems, raised floors, cabling, wiring, or interior staircases between floors) remain on and be surrendered with the Premises at the end or termination of the AlterationsTerm, Tenant will, at its sole cost, remove the same, restore the affected area to the condition existing before the construction or installation of any such Alteration, and repair any damage caused by such removal. Landlord shall make its election whether the Alterations are to be removed at the end of the Term, or remain liable in the Premises, at the time Landlord provides its written consent to such Alterations. If Tenant fails to remove any such Alteration (which Tenant is required to remove), to restore and repair the affected area, or repair any damage caused by any such removal, Landlord may undertake such removal, restoration, and repair at Tenant’s sole cost and Tenant will reimburse Landlord for all unrepaired damage the cost thereof as a result of Additional Rent, together with any removal of Alterations damages (including reasonable attorneys’ fees and all of Landlord’s reasonable costs court costs) that Landlord may sustain because of such removal with respect to any such nonremovaldefault by Tenant.