Common use of Agreement as to Ownership of  Project Clause in Contracts

Agreement as to Ownership of  Project. The City and the Company agree that title to and ownership of the Project shall, during the Term of Agreement, be vested in the City, subject to the terms of this Lease Agreement. In accordance with the requirements of Section 3.02(f) hereof, it is acknowledged that the Company will convey title to and ownership of the Project to the City by executing, delivering, and recording one or more Bills of Sale, in addition to any other instruments of transfer required in connection with the issuance of the Bonds under the Act.