Common use of Retained Property Clause in Contracts

Retained Property. Seller shall retain ownership of the land and an office building consisting of approximately 295,000 square feet of gross building area (“Building A”) and other related improvements known as ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ (APN 94-122-140) together with (a) all privileges, rights, easements and appurtenances belonging to the real property, including, without limitation, all minerals, oil, gas and other hydrocarbon substances on and under the real property; (b) all development rights, air rights, air credits, water, water rights and water stock relating to the real property; and (c) all right, title and interest of Seller in and to any easements and other rights-of-way or appurtenances included in, adjacent to or used in connection with such real property (the “Retained Property”). Building A and Building B are currently connected by a skywalk, which Buyer may elect, in its sole discretion, to be included in the Property being sold to Buyer. Buyer will give notice of its election to acquire the skywalk on or before the end of the Due Diligence Period (as defined in Section 3.1.1).