OWNERSHIP; PERSONAL PROPERTY Clause Samples
The "Ownership; Personal Property" clause establishes the rights and responsibilities regarding personal property within the context of an agreement, such as a lease or service contract. It typically clarifies which items are considered the property of the owner or landlord and which belong to the tenant or user, often specifying how personal property should be handled, maintained, or removed at the end of the agreement. This clause helps prevent disputes by clearly delineating ownership and ensuring both parties understand their obligations concerning personal belongings.
OWNERSHIP; PERSONAL PROPERTY. The Equipment shall be and remain personal property of Lessor, and Lessee shall have no right, title or interest therein or thereto except as expressly set forth in this Lease, notwithstanding the manner in which it may be attached or affixed to real property, and upon termination or expiration of the Lease term, Lessee shall have the duty and Lessor shall have the right to remove the Equipment from the premises where the same be located whether or not affixed or attached to the real property or any building, at the cost and expense of Lessee.
OWNERSHIP; PERSONAL PROPERTY. The Equipment shall at all times remain the property of Lessor and Lessee shall have no right, title or interest therein or thereto except as expressly set forth in this lease and the Equipment shall at all times be and remain personal property notwithstanding that the Equipment or any part thereof may now be, or hereafter become, in any manner, affixed or attached to real property or any improvements thereon.
OWNERSHIP; PERSONAL PROPERTY. Throughout the Term, Seller shall be the legal and beneficial owner of the System , and all RECs and Incentives, and the System will remain the personal property of Seller and will not attach to or be deemed a part of, or fixture to, the Premises or any Improvement on which the System is installed. Each of the Seller and Purchaser agree that the Seller is the tax owner of the System and all tax filings and reports shall be filed in a manner consistent with this Agreement. The System will at all times retain the legal status of personal property as defined under Article 9 of the Uniform Commercial Code.
OWNERSHIP; PERSONAL PROPERTY. The Equipment, is, and shall remain, the property of Lessor, and, notwithstanding any trade-in or downpayment made by Lessee or on its behalf, Lessee shall have no right, title, or interest in and to the Equipment, except as expressly set forth in this Lease. The Equipment shall remain personal property even though installed in or attached to real property.
OWNERSHIP; PERSONAL PROPERTY. The Sunrise Facilities are, and at all times will remain, the sole and exclusive property of Sunrise as a passive owner during the Term of this Lease Agreement. Equitrans will have the exclusive right to use and operate the Sunrise Facilities as set forth in this Lease Agreement. The Sunrise Facilities (exclusive of Land Interests) are, and at all times will remain, personal property notwithstanding that the Sunrise Facilities (exclusive of Land Interests) or any portion or component thereof may now be, or hereafter become, in any manner affixed or attached to, or embedded in or permanently resting upon real property or any improvement thereon.
OWNERSHIP; PERSONAL PROPERTY. This is a lease, and Lessee’s rights to the Equipment are those solely of a lessee notwithstanding any trade-in or downpayment Lessee may make. Lessee will ▇▇▇▇ the Equipment or Equipment Location at Lessor’s request to indicate Lessor’s ownership of the Equipment. Each Item will remain personalty despite attachment to realty. Lessee will obtain and deliver to Lessor, upon Lessor’s request, real property waivers in form satisfactory to Lessor from all persons claiming an interest in the real property on which an Item is or is to be located.
OWNERSHIP; PERSONAL PROPERTY. The Units are, and shall at all times remain the property of Trustee; and LESSEE shall have no right, title or interest therein or thereto except as expressly set forth herein. The Units are, and shall at all times be and remain, personal property, notwithstanding that any Unit or any part thereof may now be, or hereafter become in any manner affixed or attached to real property or any improvements thereof.
OWNERSHIP; PERSONAL PROPERTY. Except as otherwise provided by applicable law, security title and ownership of the Equipment shall remain in Lessor as security for the obligations of Lessee hereunder until Lessee has fulfilled all of such obligations, and the Equipment shall at all times be and remain personal property notwithstanding that the Equipment or any part thereof may now be, or hereafter become, in any manner, affixed or attached to real property or any improvements thereon."
J. Paragraph 26, Acquisition Agreements, is amended by deleting the first sentence.
K. ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ Option, is amended to read in its entirety as follows:
OWNERSHIP; PERSONAL PROPERTY. Equipment is, and shall at all times remain, the property of Lessor, subject to any security interest created by Lessor in favor of any other party which security interest shall be subject to this lease and shall be consistent with the terms hereof, and Lessee shall have no right, title or interest therein or thereto except as expressly set forth in this lease. Equipment is, and shall at all times be and remain, personal property notwithstanding that Equipment or any part thereof may now be, or hereafter become, in any manner affixed or attached to real property or any building thereon.
OWNERSHIP; PERSONAL PROPERTY. This Equipment is our property and you have no right to or interest in it except as expressly set forth herein up to the execution of the $1.00 buy-out option, at which time the equipment shall become the property of the Customer. The Equipment is and shall, at all times, remain personal property.