Title to Buildings and Improvements. (a) Title to all buildings, structures and improvements that now, or may from time to time constitute a part of the Premises shall be and remain in Tenant until the termination of this Lease. Upon termination of this Lease, Tenant may remove from the Premises all machinery, equipment and fixtures. Landlord may, by written notice to Tenant given not less than one (1) year prior to the expiration of the Term of this Lease, elect (i) to require that Tenant remove all improvements from the Premises; or (ii) leave building improvements (but not machinery, equipment and fixtures) in place, in which case title will pass to and vest in Landlord without cost or charge to it.
Title to Buildings and Improvements. Lessee expressly covenants and agrees with Lessor that upon expiration of the term of this Lease, including any extension (if this Lease be extended), by lapse of time or upon the earlier termination of this Lease for any reason whatsoever, the buildings and improvements, and all right, title and interest of Lessee therein, shall be and become the property solely of Lessor, and Lessee shall have no further right, title or interest therein and this Lease shall in such event constitute and effect a conveyance, transfer and assignment of the buildings, without the execution of any further instruments of conveyance, assignment or transfer by or on behalf of Xxxxxx. Notwithstanding the foregoing, Lessee covenants and agrees that it will promptly upon such termination execute such instrument or instruments of assignment, transfer and conveyance of the buildings and improvements as may be reasonably necessary to further evidence and make of record the provisions of this Section, or to confirm by way of further assurance the provisions hereof and the title of Lessor as a result of such termination to the buildings and, improvements.
Title to Buildings and Improvements. 33 Use of Premises; Compliance with Requirements; Maintenance and Repair 34 Use of Premises 34 No Violation of Applicable Law; Church Requirements 34
Title to Buildings and Improvements. 22 9. Permits, Licenses, Hotel Franchise Agreement......................23 10. Repairs, Governmental Regulations and Waste.......................25 11. Improvements, Changes, Alterations, Demolition and Replacement by Lessee..............................26 12.
Title to Buildings and Improvements. 9 10. Construction, Maintenance, Repair, Alteration............................................................................... 10 11.
Title to Buildings and Improvements. All buildings and improvements that may be placed upon, installed in or attached to the Leased Premises by Lessee or Sublessee shall be the property of and assets of Lessor during the Lease Term. Lessee shall, during the Lease Term, be solely entitled to any rights or benefits associated with such buildings and improvements including, but not limited to, any depreciation, investment tax credits or other tax benefits, and such buildings and improvements are not made in lieu of Rent. Notwithstanding the foregoing, the Lessor shall have the right to require Lessee to remove any or all of the buildings or improvements on the Leased Premises at the termination of the Lease. If so notified, Lessee, at the Lessee’s sole cost and expense, shall remove said buildings or improvements within six (6) months thereafter, and shall restore that portion of the Leased Premises as nearly as possible to the condition existing at the time this Lease commenced. 8
Title to Buildings and Improvements. 23 39. SURRENDER........................................................... 23
Title to Buildings and Improvements. It being the intent of the parties that, at all times, Tenant shall have only a leasehold interest in the Demised Premises, including the Improvements, ownership of all Improvements shall automatically be vested in Ground Lessor. Notwithstanding the foregoing, neither Landlord nor Ground Lessor shall be entitled to claim depreciation on the Improvements for income taxation purposes. Landlord and Tenant agree that title to the Improvements shall remain vested in Ground Lessor only for so long as the Demised Premises are used for uses enumerated in A.R.S. (S). 15-1636 ("Statutory Uses") as now existing or as hereafter amended, or any successor provision. In the event Tenant or any sublessee of Tenant engages in a use of the Demised Premises which is not a Statutory Use, then, at Landlord's sole election, title to the Improvements shall be deemed vested in Tenant effective as of the date Tenant (or a sublessee of Tenant) engaged in a use which is not a Statutory Use and shall remain vested in Tenant for the remainder of the Term.
Title to Buildings and Improvements. The title to the buildings, improvements and fixtures appurtenant thereto and all changes, additions and alterations therein, and all renewals and replacements thereof, when made, erected, constructed, installed or placed upon the Land by Tenant, shall be and remain in Tenant until the expiration of the Term of this Lease, unless sooner terminated as provided herein. Upon the expiration or sooner termination of this Lease, title to all such property shall automatically pass to, vest in and belong to Landlord without further action on the part of either party. So long as Tenant retains ownership of the buildings, improvements, additions and alterations, Tenant shall be entitled to claim depreciation and all other tax losses with respect thereto.
Title to Buildings and Improvements
