Acquisition of Title to the Land
Acquisition of Title to the Land Sample Clauses
Related to Acquisition of Title to the Land
Title to the Property Borrower will warrant and defend the title to the Property, and the validity and priority of all Liens granted or otherwise given to Lender under the Loan Documents, subject only to Permitted Encumbrances, against the claims of all Persons.
Reservation of Title For any current or future sale of goods to a pur- chaser located outside of Germany the following retention of title has been agreed: BHJ reserves title to the goods until the entire pur- chase price and any costs relating to the delivery, dispatch and insurance of the goods have been paid by the purchaser or security for the purchase price has been provided as agreed. Until this has happened, the purchaser shall not be entitled to resell the goods or otherwise dispose of the goods in any way violating BHJ's reservation of title. For any current or future sale of goods to a pur- chaser located in Germany the following retention of title has been agreed: The goods (“reserved goods”) delivered by BHJ to the purchaser remain the property of BHJ until full payment of all secured claims. The purchaser stores the reserved goods free of charge for BHJ. The purchaser is entitled to pro- cess and sell the goods subject to retention of title in the ordinary course of business until the event of realization. Pledging and transfer of ownership by way of security are not permitted. If the reserved goods are processed by the pur- chaser, it is agreed that the processing is carried out in the name and for the account of BHJ as manufacturer and therefore acquires direct own- ership or - if the processing is carried out using materials from several owners or the value of the processed item is higher than the value of the re- served goods - co-ownership (fractional owner- ship) of the newly created item in the ratio of the value of the reserved goods to the value of the newly created item. In the event that no such ac- quisition of ownership should occur at BHJ, the purchaser hereby transfers his future ownership or - in the above ratio - co-ownership of the newly created item to BHJ as security. If the reserved goods are combined or inseparably mixed with other items to form a uniform item and if one of the other items is to be regarded as the main item, BHJ, insofar as the main item belongs to BHJ, transfers to the purchaser proportionate co-own- ership of the uniform item in the above specified ratio. In the event of resale of the reserved goods, the purchaser hereby assigns by way of security the resulting claim against the purchaser - in the case of co-ownership of BHJ of the reserved goods, proportionally in accordance with the co-owner- ship share - to BHJ. The same applies to other claims that take the place of the reserved goods or otherwise arise with regard to the reserved goods, such as insurance claims or claims in tort in the event of loss or destruction. BHJ revocable au- thorizes the purchaser to collect the claims as- signed to BHJ in his own name. BHJ may only re- voke this direct debit authorization in the event of realization. If third parties seize the reserved goods, in particular by seizure, the purchaser will immediately inform them of the ownership of BHJ and inform BHJ of this in order to enable BHJ to enforce its ownership rights. If the third party is not in a position to reimburse BHJ for the court or out-of-court costs incurred in this connection, the purchaser is liable for these costs to BHJ. BHJ will release the reserved goods and the items or claims taking their place if their value exceeds the amount of the secured claims by more than 50%. BHJ has the right to select the items to be released thereafter. If BHJ withdraws from the contract in case of breach of contract by the purchaser - in particular default of payment – BHJ is entitled to demand return of the reserved goods.
Title to Equipment Title shall vest in the Contractor to all equipment purchased hereunder.
Retention of Title Supplied Goods shall remain Seller’s property until fulfillment by Customer of its payment obligations as described above. As such:
Evidence of Title Evidence that title to a REO is held by the Trustee shall be submitted by the Servicer to the Master Servicer and, if applicable, to the Primary Mortgage Insurer and/or the Pool Insurer, within ten Business Days after marketable title to such REO has been acquired.
Conveyance of Title Upon closing, Seller shall execute and deliver to Buyer a Patent, Grant Deed, or Quit Claim Deed conveying title to the Cabin/Home Site. Buyer shall also receive a Xxxx of Sale executed by the current owner of the Personal Property in form of Exhibit B, attached hereto. If Buyer and the owner of the Personal Property are identical, then the Xxxx of Sale shall be returned to said party.
Title to Property The Company and its Subsidiaries have good and marketable title in fee simple to all real property and good and marketable title to all personal property owned by them which is material to the business of the Company and its Subsidiaries, in each case free and clear of all liens, encumbrances and defects except such as are described in Schedule 3(t) or such as would not have a Material Adverse Effect. Any real property and facilities held under lease by the Company and its Subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions as would not have a Material Adverse Effect.
