Common use of Fee Property Clause in Contracts

Fee Property. Subject to the terms and conditions of this Agreement, Seller agrees to sell to Purchaser, and Purchaser agrees to purchase from Seller, the following property (collectively, the “Fee Property” and, together with the Building F Option, the “Property”): (a) The Fee Land and the Fee Buildings and all other improvements and permanent fixtures located on the Fee Land (collectively, the “Fee Improvements”); together with all rights, benefits, privileges, easements, tenements, hereditaments, and appurtenances thereon or in anyway appertaining to such real property; and all right, title, and interest of Seller in and to all strips and gores and any land lying in the bed of any street, road or alley, open or proposed, adjoining such real property; (b) The “Fee Tangible Personal Property,” being all right, title and interest of Seller, if any, in and to all tangible personal property described in Schedule A; provided, however, Purchaser may propose additions to Schedule A during the Due Diligence Period and in the event the parties are unable to mutually agree on the tangible personal property to be included in Schedule A on or before the expiration of the Due Diligence Period, Purchaser may terminate this Agreement; and (c) The “Fee Intangible Property,” being all right, title and interest of Seller, if any, in and to all intangible personal property described in Schedule B (subject to Seller’s reservation of a license to use such intangible personal property in connection with constructing future improvements on the Property or otherwise in connection with Seller’s occupancy of the Property); provided, however, Purchaser may propose additions to Schedule B during the Due Diligence Period and in the event the parties are unable to mutually agree on the intangible personal property to be included in Schedule B on or before the expiration of the Due Diligence Period, Purchaser may terminate this Agreement.