Ownership of the Leased Property. Lessee acknowledges that the Leased Property is the property of Lessor and that Lessee has only the right to the possession and use of the Leased Property upon the terms and conditions of this Lease.
Ownership of the Leased Property. (a) Landlord and Tenant acknowledge and agree that they have executed and delivered this Master Lease with the understanding that (i) the Leased Property is the property of Landlord, (ii) Tenant has only the right to the possession and use of the Leased Property upon the terms and conditions of this Master Lease, (iii) this Master Lease is a “true lease,” is not a financing lease, capital lease, mortgage, equitable mortgage, deed of trust, trust agreement, security agreement or other financing or trust arrangement, and the economic realities of this Master Lease are those of a true lease, (iv) the business relationship created by this Master Lease and any related documents is and at all times shall remain that of landlord and tenant, (v) this Master Lease has been entered into by each party in reliance upon the mutual covenants, conditions and agreements contained herein, and (vi) none of the agreements contained herein is intended, nor shall the same be deemed or construed, to create a partnership between Landlord and Tenant, to make them joint venturers, to make Tenant an agent, legal representative, partner, subsidiary or employee of Landlord, or to make Landlord in any way responsible for the debts, obligations or losses of Tenant.
Ownership of the Leased Property. Tenant acknowledges that the Leased Property is the property of Landlord and that Tenant has only the right to the exclusive possession and use of the Leased Property upon the terms and conditions of this Lease, provided that, until the expiration or earlier termination of this Lease, all capital improvements and additions made by Tenant, at Tenant’s expense, to any Leased Property shall be the property of Tenant and, upon the expiration or earlier termination of this Lease, title to such improvements, additions and replacements shall vest in Landlord.
Ownership of the Leased Property. Tenant acknowledges that the Leased Properties are the property of Landlord and that Tenant has only the right to the possession and use of the Leased Property leased by it upon the terms and conditions of this Lease. Tenant will not (a) file any income tax return or other associated documents; (b) file any other document with or submit any document to any governmental body or authority; (c) enter into any written contractual arrangement with any Person; or (d) release any financial statements of Tenant, in each case that takes any position other than that, throughout the Term, Landlord is the owner of the Leased Properties for federal, state and local income tax purposes and that this Lease is a "true lease".
Ownership of the Leased Property. Tenant acknowledges that the -------------------------------- Leased Property is the property of Landlord and that Tenant has only the right to the possession and use of the Leased Property upon the terms and conditions of this Lease.
Ownership of the Leased Property. Lessee acknowledges that the Land is the property of Lessor, that upon the construction of the Leased Improvements the Lessor will own all of the Leased Property, and that Lessee has only the right to the possession and use of the Leased Property and the right to purchase the Leased Property, subject to the terms, provisions and conditions set forth in this Lease .
Ownership of the Leased Property. 5.1 Ownership of the Leased Property........................................28 5.2 Tenant's Personal Property..............................................28
Ownership of the Leased Property. Xxxxxx acknowledges that the Leased Property is the property of Lessor and that Xxxxxx has only the right to the exclusive possession and use of the Leased Property upon the terms and conditions of this Lease. Upon the expiration or earlier termination of this Lease with respect to any Facility Lessee shall, at its expense, repair and restore the Leased Property relating to such Facility to the condition required by Section 9.1.4.
Ownership of the Leased Property. In the event of a change in the ownership of the Xxxxxx Xxxxx Golf Course, LESSEE shall have the right to terminate this Agreement, effective immediately, upon written notice to CITY in the event that the new ownership is unacceptable to the USGA, in its sole discretion. CITY agrees to provide prompt written notice of any such change in ownership.
Ownership of the Leased Property. Lessee acknowledges that the Leased Property is the property of Lessor (except for the rights under the Air Space Agreement with respect to which Lessor holds a leasehold interest pursuant to the Air Space Agreement and except for the rights under the Parking Space Lease with respect to which Lessor holds a leasehold interest pursuant to the Parking Space Lease) and that Lessee has only the right to the possession and use of the Leased Property upon the terms and conditions of this Lease, the Air Space Agreement and the Parking Space Lease.
