Land The real property described in Exhibit A attached hereto and made a part hereof (the “Land”);
acres Site-Specific Conditions
Leasehold Interests Each lease or agreement to which the Company is a party under which it is a lessee of any property, real or personal, is a valid and subsisting agreement without any default of the Company thereunder and, to the best of the Company's knowledge, without any default thereunder of any other party thereto. No event has occurred and is continuing which, with due notice or lapse of time or both, would constitute a default or event of default by the Company under any such lease or agreement or, to the best of the Company's knowledge, by any other party thereto. The Company's possession of such property has not been disturbed and, to the best of the Company's knowledge, no claim has been asserted against the Company adverse to its rights in such leasehold interests.
Project Site The “Project Site” is the place where the Work is being carried on.
Contract Area Block which superficial projection is delimited by the polygon defined in Annex I or the plots of the Block remaining subject to the Agreement after the partial relinquishments provided for herein are made.
Water Rights Water rights and/or water shares used in connection with the Property;
Groundwater Any water, except capillary moisture, beneath the land surface or beneath the bed of any stream, lake, reservoir or other body of surface water within the boundaries of this state, whatever may be the geologic formation or structure in which such water stands, flows, percolates, or otherwise moves.
Area of Interest At its option, either the Vendor, on the one hand, or Stone, on the other hand, may acquire any interest in real property wholly or partially situate within the Area of Interest, in its own name and on such terms and conditions as the acquirer (in its sole discretion) deems acceptable. Within fifteen (15) days after any such acquisition is consummated, the acquirer shall give notice thereof to Stone or the Vendor, as the case may be, and the notice shall be accompanied by copies of all instruments documenting the acquisition. The other party shall have a period of fifteen (15) days after its receipt of such notice and accompanying materials to make the interest in real property described therein part of the Properties and subject to this Agreement by giving the acquirer notice of its decision to do so. If the Vendor are the acquirer and Stone gives the Vendor the fifteen (15) days notice of Stone’s decision to make the interest in real property acquired by the Vendor part of the Properties and subject to this Agreement, then Stone’s notice to the Vendor of that decision shall be accompanied by payment to the Vendor of one hundred percent (100%) of the Vendor’ actual out-of-pocket cash acquisition costs and the payment by Stone to the Vendor shall constitute a Earning Cost. If the acquirer is Stone and the Vendor give Stone the fifteen (15) days notice of the Vendor’ decision to make the interest in real property acquired by Stone part of the Properties and subject to this Agreement, then the acquisition by Stone shall have been made at the sole cost and expense of Stone but all of Stone’s actual out-of-pocket cash acquisition costs shall constitute Earning Costs. No acquisition by either the Vendor or Stone pursuant to the provisions of this Section 15 shall operate to enlarge the Area of Interest, and all interests in real property so acquired. Any such acquisitions shall form part of the Property and be subject to the provisions of this Agreement. Stone’s obligations under this Section shall survive Stone’s exercise and closing of the option granted to Stone under Section 5.
Partnership Property All property, real, personal, tangible, intangible, or mixed, acquired by or contributed to the Partnership shall be owned by the Partnership and titled in its name and such property shall not be owned individually by any Partner. Each Partner acknowledges and agrees that the System and all elements thereof, are the exclusive property of the Company and are not Partnership property. Each Partner acknowledges and agrees that the Proprietary Marks are the exclusive property of the Company and are not Partnership property. Each Partner acknowledges and agrees that the Partnership shall not acquire or own any land or buildings. Any land or buildings used in the Partnership business shall be acquired and owned by the Company or an Affiliate of the Company and leased to the Partnership at reasonable rates and terms, and such land and buildings shall not be Partnership property.
Ownership of the Leased Property Lessee acknowledges that the Leased Property is the property of Lessor and that Lessee has only the right to the possession and use of the Leased Property upon the terms and conditions of this Lease.
