Defense of Property Interest Sample Clauses

Defense of Property Interest. Should the right of XXX or SRP ---------------------------- to use, in accordance with the terms and conditions of this Agreement, any Right of Way or Building Entrance then designated a part of a Segment be challenged by the holder or alleged holder of a property interest in such Right of Way or Building Entrance, XXX or SRP, depending on which party has the primary right to use the Right of Way and subject to the provisions of Sections 10.9 and 10.10 shall defend the right to so use the Right of Way or Building Entrance. Notwithstanding the foregoing, XXX shall defend its ability to use the Right of Way, to the extent the challenge relates only to the use of the Right of Way by XXX. The other party, subject to the provisions of Sections 10.9 and 10.10, shall take all actions and execute such additional documents as are deemed reasonably necessary in connection with the establishment or defense of the challenged rights. All costs and expenses of such defense shall be considered XXX Phoenix Direct Operating Expenses or SRP Phoenix Direct Operating Expenses, as the case may be. Neither XXX or SRP makes any warranty to the other regarding the adequacy of any Right of Way or Building Entrance.
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Defense of Property Interest. Should the right of either Party to use, in accordance with the terms and conditions of this Agreement, any Fiber be challenged by the holder or alleged holder of a property interest in such Right of Way or Building Entrance, excluding property owned by the United States, the Parties shall defend the right to so use the Fiber. The Parties shall take all actions and execute such additional documents as are deemed reasonably necessary in connection with the establishment or defense of the challenged rights. Neither Party makes a warranty to the other regarding the adequacy of any property rights that support the installation or use of any Fiber.
Sample 1
Defense of Property Interest. Should ELI's right to utilize, in ---------------------------- accordance with the terms, covenants and conditions of this Agreement, any portion of the Right of Way be challenged by the holder or alleged holder of a property interest in such portion of the Right of Way, PG&E, subject to the provisions of Section 9.6, shall defend ELI's right to utilize such Right of Way. On an aggregate basis throughout the Term, PG&E shall bear the expense of the first FOUR HUNDRED FIFTY THOUSAND DOLLARS ($450,000.00) of all such defense costs, including, but not limited to, any increased compensation or additional costs or expenses, including litigation costs and expenses and all costs and expenses of complying with any alternative, additional or modified Right of Way provisions imposed on PG&E by any Right of Way granted as a result of this Agreement. On an aggregate basis throughout the Term, XXX shall bear the expense of such defense costs in excess of FOUR HUNDRED FIFTY THOUSAND DOLLARS ($450,000.00). PG&E shall confer with XXX regarding strategies and actions to be taken to resolve the matter, and shall use reasonable efforts to resolve the matter expeditiously and without litigation. PG&E and XXX shall cooperate with each other to reach a mutually satisfactory resolution of all such matters with the disputing Right of Way grantor or other holder of a property interest in the Right of Way. Subject to the provisions of Section 9.6, PG&E shall take all actions and execute such additional documents as XXX reasonably determines to be necessary in connection with the establishment or defense of ELI's rights under this Agreement.
Sample 1

Related to Defense of Property Interest

  • Sale of Property Seller agrees to sell, transfer and assign and Buyer agrees to purchase, accept and assume, subject to the terms and conditions set forth in this Agreement and the Closing Documents, all of Seller’s right, title and interest in and to the Property.

  • Sale of Properties The Borrower will not, and will not permit any of the Guarantors to, sell, assign, farm-out, convey or otherwise transfer any Property except for: (a) the sale of Hydrocarbons in the ordinary course of business; (b) farmouts of undeveloped acreage and assignments in connection with such farmouts; (c) the sale or transfer of equipment that is no longer necessary for the business of the Borrower or such Subsidiary or is replaced by equipment of at least comparable value and use; (d) sales or other dispositions (excluding Casualty Events) of Oil and Gas Properties or any interest therein or Subsidiaries owning Oil and Gas Properties; provided that (i) 100% of the consideration received in respect of such sale or other disposition shall be cash and/or publicly traded securities, (ii) the consideration received in respect of such sale or other disposition shall be equal to or greater than the fair market value of the Oil and Gas Property, interest therein or Subsidiary subject of such sale or other disposition (as reasonably determined by the board of directors of the Borrower and, if requested by the Administrative Agent, the Borrower shall deliver a certificate of a Responsible Officer of the Borrower certifying to that effect), (iii) if such sale or other disposition of Oil and Gas Property or Subsidiary owning Oil and Gas Properties included in the most recently delivered Reserve Report during any period between two successive Scheduled Redetermination Dates has a fair market value (as determined by the Administrative Agent), individually or in the aggregate, in excess of $5,000,000, the Borrowing Base shall be reduced, effective immediately upon such sale or disposition, by an amount equal to the value, if any, assigned such Property as determined by the Required Lenders assigned such Property in the most recently delivered Reserve Report and (iv) if any such sale or other disposition is of a Subsidiary owning Oil and Gas Properties, such sale or other disposition shall include all the Equity Interests of such Subsidiary; and (e) sales and other dispositions of Properties not regulated by Section 9.12(a) to (d) having a fair market value not to exceed $250,000 during any 12-month period.

  • Lease of Property Landlord, for and in consideration of the covenants and agreements herein contained on the part of Tenant to be paid, kept, observed, and performed, hereby leases to Tenant, and Tenant hereby leases from Landlord for the Term (as hereinafter defined), the Property. Tenant’s use of the Property shall be in compliance with the terms of this Lease.

  • Release of Properties From time to time the Borrower may request, upon not less than 10 days prior written notice to the Administrative Agent (or such shorter period as may be acceptable to the Administrative Agent in its sole discretion), that a Borrowing Base Asset be no longer considered a Borrowing Base Asset, which release (a “Property Release”) shall be effected by the Administrative Agent if the Administrative Agent determines all of the following conditions are satisfied as of the date of such Property Release:

  • Condition of Property; Casualties The material Properties used or to be used in the continuing operations of the Borrower and its Subsidiaries, taken as a whole, are in good working order and condition, normal wear and tear excepted. Neither the business nor the material Properties of the Borrower or any Subsidiary has been affected as a result of any fire, explosion, earthquake, flood, drought, windstorm, accident, strike or other labor disturbance, embargo, requisition or taking of Property or cancellation of contracts, permits or concessions by a Governmental Authority, riot, activities of armed forces or acts of God or of any public enemy, which effect could reasonably be expected to result in a Material Adverse Change.

  • Release of Property Except as set forth in this Section 2.6, no repayment, prepayment or defeasance of all or any portion of the Loan shall cause, give rise to a right to require, or otherwise result in, the release of the Lien of the Mortgage on the Property.

  • Maintenance of Properties and Leases Each Loan Party shall, and shall cause each of its Subsidiaries to, maintain in good repair, working order and condition (ordinary wear and tear excepted) in accordance with the general practice of other businesses of similar character and size, all of those properties useful or necessary to its business, and from time to time, such Loan Party will make or cause to be made all appropriate repairs, renewals or replacements thereof.

  • Status of Property (a) The Land and Improvements are not located in an area identified by the Secretary of Housing and Urban Development, or any successor, as an area having special flood hazards pursuant to the National Flood Insurance Act of 1968, the Flood Disaster Protection Act of 1973, or the National Flood Insurance Reform Act of 1994, as each have been or may be amended, or any successor law (collectively, the “Flood Acts”) or, if located within any such area, Borrower has and will maintain the insurance prescribed in Section 3.06 below.

  • Defense of Collateral Defend the Collateral from any Liens other than Liens permitted by Section 8.2.

  • Purchase of Property On the Closing Date, and subject to the terms and conditions of this Agreement, each Seller shall sell, assign, convey, transfer and deliver to Purchaser, and Purchaser shall purchase and acquire from each Seller, all of such Seller’s right, title and interest in and to the Property, or Properties, owned by such Seller, free and clear of Liens and Encumbrances that are not Permitted Exceptions, at the purchase price provided in Section 2.2 hereof. Purchaser hereby acknowledges and agrees that this Agreement is for the purchase and sale of all of the Properties and that under no circumstances shall Purchaser purchase fewer than all of the Properties, except as expressly set forth in Sections 4.2.2, 9.2 and 12.13 herein.

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