Ownership of Replacements Sample Clauses
The "Ownership of Replacements" clause establishes who holds legal title to any items, parts, or equipment that are used to replace or substitute original goods under a contract. Typically, this clause clarifies whether the replaced items become the property of the supplier, the customer, or remain with the original owner after replacement. For example, if a defective component in machinery is swapped out, the clause will specify whether the supplier can reclaim the faulty part or if it stays with the customer. This provision ensures clarity over asset ownership following replacements, preventing disputes and facilitating smooth maintenance or warranty processes.
Ownership of Replacements. All repairs, renovations, additions, alterations, improvements, renewals or replacements made pursuant to this Article V, and all amounts kept in the Reserves, shall, except as otherwise provided in this Agreement, be the property of Tenant or Landlord, as applicable, as provided under the Lease.
Ownership of Replacements. All Capital Expenditures and, subject to the rights of Manager under the Management Agreement, all repairs, alterations, improvements, renewals, and replacements made pursuant to this Article 5 shall be the property of Landlord.
Ownership of Replacements. All Capital Replacements made pursuant to this Agreement and all amounts in the Reserve Account shall be the property of Owner or Purchaser, as applicable, as provided under the Lease.
Ownership of Replacements. All repairs, alterations, improvements, renewals or replacements made pursuant to this Article V, and all amounts kept in the FF&E Reserve, shall, except as otherwise provided in this Agreement, be the property of Owner.
Ownership of Replacements. All changes, repairs, alterations, improvements, renewals or replacements of FF&E and Capital Improvements to the Project shall be the property of Owner.
Ownership of Replacements. All changes, repairs, alterations, improvements, renewals, or replacements to the Hotel made pursuant to this Article VIII shall be the property of Owner.
Ownership of Replacements. All changes, repairs, alterations, improvements, renewals, or replacements to the Hotel made pursuant to this Article VIII shall be the property of TRS.
Ownership of Replacements. All repairs, renovations, additions, alterations, improvements, renewals or replacements made pursuant to this Agreement and all FF&E Reserves, shall, except as otherwise provided in this Agreement, be the property of Landlord or Owner, as applicable, as provided under the Lease.
Ownership of Replacements. All repairs, alterations, improvements, renewals or replacements made pursuant to Article VII shall be the property of Owner. END OF ARTICLE VII
Ownership of Replacements. All repairs, alterations, improvements, renewals or replacements made pursuant to this Article 5, and all Improvements shall be the property of Landlord upon the earlier of affixation or completion, provided that all Improvements hereafter made under the VANOC Agreement shall become the property of the Landlord in accordance with the arrangements made pursuant to the VANOC Agreement, but in any event upon completion of the Olympic and Paralympic games contemplated thereunder.