Common use of Ownership of Alterations Clause in Contracts

Ownership of Alterations. Upon the expiration or sooner termination of this Lease, all Alterations made by or for Tenant (other than Tenant’s trade fixtures) shall immediately become the property of Landlord, without compensation to Tenant, but Landlord has no obligation to repair, maintain or insure those Alterations. Carpeting, shelving, cabinetry and casework are considered improvements of the Premises and not movable trade fixtures, regardless of how or where affixed. No Alterations will be removed by Tenant from the Premises either during or at the expiration or earlier termination of the Term, and they shall be surrendered as a part of the Premises unless the Alteration is not Building-standard and Landlord requested that Tenant remove it at the time it consented to such Alteration; provided, however, that in the event that the Alterations were not subject to the prior approval of Landlord under Section 7.06(a), Landlord shall designate in writing to Tenant within ten (10) business days after receipt of written notice from Tenant detailing such Alterations which of the Alterations must be removed at the end of the Term. Landlord may designate which non-Building-standard Tenant improvements resulting from the Alteration are subject to removal at the end of the Term as part of its consent thereto. In the absence of such a designation, no non-Building-standard improvements resulting from the Alteration are subject to removal in accordance with the provisions of this Lease.

Appears in 2 contracts

Sources: Lease Agreement (Peloton Therapeutics, Inc.), Lease Agreement (Peloton Therapeutics, Inc.)

Ownership of Alterations. Upon the expiration or sooner termination of this Lease, all All Alterations made by or for Tenant (other than the Tenant’s 's movable trade fixtures) shall ), will immediately upon installation become the property of the Landlord, without compensation to the Tenant; provided, but however, Landlord has will have no obligation to repair, repair or maintain or insure those such Alterations. Carpeting, shelving, shelving and cabinetry and casework are considered will be deemed improvements of the Premises and not movable trade fixtures, regardless of how or where affixed. No Such Alterations will not be removed by Tenant from the Premises either during or at the expiration or earlier termination of the Term, Term and they shall will be surrendered as a part of the Premises unless the such Alteration is not Building-Building standard and Landlord has requested that Tenant remove it same. Tenant will have the right to request at the time it consented of submission to such Alteration; provided, however, Landlord of Tenant's information in connection with a proposed Alteration that in the event that the Alterations were not subject to the prior approval of Landlord under Section 7.06(a), Landlord shall designate in writing to Tenant within ten (10) business days after receipt of written notice from Tenant detailing such Alterations which of the Alterations must be removed at the end of the Term. Landlord may designate which non-Building-Building standard Tenant improvements resulting from the such Alteration are will be subject to removal at the end of the Term as part of its consent theretoTerm. In the absence of such a designationrequest, no all non-Building-Building standard improvements resulting from the such Alteration are will be subject to removal. Tenant will reimburse Landlord for the cost of repair for all damage done to the Premises or the Building by the installation and/or removal in accordance with the provisions of this Leaseany Alterations.

Appears in 2 contracts

Sources: Office Lease Agreement (Jamba, Inc.), Office Building Lease (Nexplore Corp)

Ownership of Alterations. Upon the expiration or sooner termination of this Lease, all All Alterations made by or for Tenant (other than the Tenant’s movable trade fixtures) fixtures which shall include Tenant’s projection screen and UPS system), will immediately upon installation become the property of the Landlord, without compensation to the Tenant; provided, but however, Landlord has will have no obligation to repair, repair or maintain or insure those such Alterations. Carpeting, shelving, shelving and cabinetry and casework are considered will be deemed improvements of the Premises and not movable trade fixtures, regardless of how or where affixed. No Such Alterations will not be removed by Tenant from the Premises either during or at the expiration or earlier termination of the Term, Term and they shall will be surrendered as a part of the Premises unless the such Alteration is not Building-Building standard and Landlord has requested that Tenant remove it same. Tenant will have the right to request at the time it consented of submission to such Alteration; provided, however, Landlord of Tenant’s information in connection with a proposed Alteration that in the event that the Alterations were not subject to the prior approval of Landlord under Section 7.06(a), Landlord shall designate in writing to Tenant within ten (10) business days after receipt of written notice from Tenant detailing such Alterations which of the Alterations must be removed at the end of the Term. Landlord may designate which non-Building-Building standard Tenant improvements resulting from the such Alteration are will be subject to removal at the end of the Term as part of its consent theretoTerm. In the absence of such a designationrequest, no all non-Building-Building standard improvements resulting from the such Alteration are will be subject to removal. Tenant will reimburse Landlord for the cost of repair for all damage done to the Premises or the Building by the installation and/or removal in accordance with the provisions of this Leaseany Alterations.

Appears in 1 contract

Sources: Office Building Lease (Avatar Systems Inc)

Ownership of Alterations. Upon Any and all Alterations to, and all other property (including wall-to-wall carpet and wall covering), in, or upon, the Premises shall, unless Landlord elects otherwise, become immediately on completion of their installation Landlord's property without payment therefor by Landlord and shall remain upon the Premises and be surrendered with the Premises at the expiration or sooner termination of this Lease (including any renewal or extension period). If Landlord elects that Alterations made by Tenant be removed upon the expiration or termination of this Lease, all Alterations made by or for Tenant (other than Tenant’s trade fixtures) shall immediately become cause the property of Landlord, without compensation same to Tenant, but Landlord has no obligation to repair, maintain or insure those Alterations. Carpeting, shelving, cabinetry and casework are considered improvements of the Premises and not movable trade fixtures, regardless of how or where affixed. No Alterations will be removed by Tenant from the Premises either during or at the expiration or earlier termination of the Term, and they shall be surrendered as a part of the Premises unless the Alteration is not Building-standard and Landlord requested that Tenant remove it at the time it consented to such Alteration; provided, however, that in the event that the Alterations were not subject to the prior approval of Landlord under Section 7.06(a), Landlord shall designate in writing to Tenant within ten (10) business days after receipt of written notice from Tenant detailing such Alterations which of the Alterations must be removed at Tenant's sole expense, and shall restore the end of Premises to its original improved condition, ordinary wear and tear excepted, on or before the Termdate this Lease expires or is terminated. If Tenant fails to remove the same or restore the Premises, Landlord may designate cause the Alterations to be removed and/or to restore the Premises at Tenant's expense, and Tenant shall pay to Landlord the Cost Of Such removal and/or restoration together with an), and all damages which non-Building-standard Tenant improvements resulting from Landlord may suffer and sustain because of Tenant's failure to remove the Alteration are subject to removal at Alterations and/or restore the end of the Term Premises as part of its consent thereto. In the absence of such a designation, no non-Building-standard improvements resulting from the Alteration are subject to removal in accordance with the provisions of this Leaseherein provided.

Appears in 1 contract

Sources: Office Lease (Infe Com Inc)

Ownership of Alterations. Upon the expiration or sooner termination of this Lease, all All Alterations made by or for Tenant (other than the Tenant’s movable trade fixtures) shall ), will immediately upon installation become the property of the Landlord, without compensation to the Tenant; provided, but however, Landlord has will have no obligation to repair, repair or maintain or insure those such Alterations. Carpeting, shelving, shelving and cabinetry and casework are considered will be deemed improvements of the Premises and not movable trade fixtures, regardless of how or where affixed. No Such Alterations will not be removed by Tenant from the Premises either during or at the expiration or earlier termination of the Term, Term and they shall will be surrendered as a part of the Premises unless the such Alteration is not Building-Building standard and Landlord has requested that Tenant remove it same. Tenant will have the right to request at the time it consented of submission to such Alteration; provided, however, Landlord of Tenant’s information in connection with a proposed Alteration that in the event that the Alterations were not subject to the prior approval of Landlord under Section 7.06(a), Landlord shall designate in writing to Tenant within ten (10) business days after receipt of written notice from Tenant detailing such Alterations which of the Alterations must be removed at the end of the Term. Landlord may designate which non-Building-Building standard Tenant improvements resulting from the such Alteration are will be subject to removal at the end of the Term as part of its consent theretoTerm. In the absence of such a designationrequest, no all non-Building-Building standard improvements resulting from the such Alteration are will be subject to removal. Tenant will reimburse Landlord for the cost of all damage done to the Premises or the Building by the installation and/or removal in accordance with the provisions of this Leaseany Alterations.

Appears in 1 contract

Sources: Office Building Lease (Heartland Payment Systems Inc)