Common use of Disposal of Program Assets Consisting of Real Property Clause in Contracts

Disposal of Program Assets Consisting of Real Property. The Government shall ensure that no Program Asset consisting of real property is (A) subject to any lease or sub-lease arrangement, in whole or in part or (B) sold, donated or otherwise disposed of, in whole or in part; except, in each of the foregoing cases, with MCC’s prior written approval. In addition, any Program Asset consisting of real property that is retained by MCA-Mongolia, subject to the terms of MCC’s Program Closure Guidelines, after the expiration or termination of the Compact shall be subject to a reversionary interest of MCC for a period of five (5) years commencing on the last day of the Closure Period; and if at any time during that five-year period, the Government wishes to sell the real property or use it for a purpose that is not related to the Program or does not continue to further the Project Objective, the Government shall compensate MCC for its interest in the real property by paying to MCC an amount equal to the fair market value of MCC’s reversionary interest in the real property determined at such time.

Appears in 1 contract

Samples: Program Implementation Agreement

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Disposal of Program Assets Consisting of Real Property. The Government shall ensure that no Program Asset consisting of real property is (A) subject to any lease or sub-lease arrangement, in whole or in part or (B) sold, donated donated, or otherwise disposed of, in whole or in part; except, in each of the foregoing cases, with MCC’s prior written approval. In addition, any Program Asset consisting of real property that is retained by MCA-Mongolia, subject to the terms of MCC’s Program Closure Guidelines, Niger after the expiration or termination of the Compact shall shall, in accordance with the terms of the Program Closure Guidelines, be subject to a reversionary interest of MCC for a period of five (5) years commencing on the last day of the Closure Period; and if at any time during that five-year period, the Government wishes to sell the real property or use it for a purpose that is not related to the Program or does not continue to further the Project ObjectiveProgram objectives, the Government shall compensate MCC for its interest in the real property by paying to MCC an amount equal to the fair market value of MCC’s reversionary interest in the real property determined at such time.

Appears in 1 contract

Samples: Program Implementation Agreement

Disposal of Program Assets Consisting of Real Property. The Government shall ensure that no Program Asset consisting of real property is (A) subject to any lease or sub-lease arrangement, in whole or in part or (B) sold, donated donated, or otherwise disposed of, in whole or in part; except, in each of the foregoing cases, with MCC’s prior written approval. In addition, any Program Asset consisting of real property that is retained by MCA-Mongolia, subject to the terms of MCC’s Program Closure Guidelines, Malawi II after the expiration or termination of the Compact shall shall, in accordance with the terms of the Program Closure Guidelines, be subject to a reversionary interest of MCC for a period of five (5) years commencing on the last day of the Closure Periodclosure period; and if at any time during that five-year period, the Government wishes to sell the real property or use it for a purpose that is not related to the Program or does not continue to further the Project ObjectiveProgram objectives, the Government shall compensate MCC for its interest in the real property by paying to MCC an amount equal to the fair market value of MCC’s reversionary interest in the real property determined at such time.

Appears in 1 contract

Samples: Program Implementation Agreement

Disposal of Program Assets Consisting of Real Property. The Government shall ensure that no Program Asset consisting of real property is (A) subject to any lease or sub-lease arrangement, in whole or in part or (B) sold, donated or otherwise disposed of, in whole or in part; except, in each of the foregoing cases, with MCC’s prior written approval. In addition, any Program Asset consisting of real property that is retained by MCA-Mongolia, subject to the terms of MCC’s Program Closure Guidelines, Kosovo after the expiration or termination of the Compact shall shall, in accordance with the terms of the Program Closure Guidelines, be subject to a reversionary interest of MCC for a period of five (5) years commencing on the last day of the Closure Periodclosure period; and if at any time during that five-year period, the Government wishes to sell the real property or use it for a purpose that is not related to the Program or does not continue to further the Project ObjectiveProgram objectives, the Government shall compensate MCC for its interest in the real property by paying to MCC an amount equal to the fair market value of MCC’s reversionary interest in the real property determined at such time.

Appears in 1 contract

Samples: Program Implementation Agreement

Disposal of Program Assets Consisting of Real Property. The Government shall ensure that no Program Asset consisting of real property is (A) subject to any lease or sub-lease arrangement, in whole or in part or (B) sold, donated or otherwise disposed of, in whole or in part; except, in each of the foregoing cases, with MCC’s prior written approval. In addition, any Program Asset consisting of real property that is retained by MCA-Mongolia, subject to the terms of MCC’s Program Closure Guidelines, Benin Regional after the expiration or termination of the Compact shall shall, in accordance with the terms of the Program Closure Guidelines, be subject to a reversionary interest of MCC for a period of five (5) years commencing on the last day of the Closure Period; and if at any time during that five-year period, the Government wishes to sell the real property or use it for a purpose that is not related to the Program or does not continue to further the Project ObjectiveProgram objectives, the Government shall compensate MCC for its interest in the real property by paying to MCC an amount equal to the fair market value of MCC’s reversionary interest in the real property determined at such time.

Appears in 1 contract

Samples: Program Implementation Agreement

Disposal of Program Assets Consisting of Real Property. The Government shall ensure that no Program Asset consisting of real property is (A) subject to any lease or sub-lease arrangement, in whole or in part or (B) sold, donated or otherwise disposed of, in whole or in part; except, in each of the foregoing cases, with MCC’s prior written approval. In addition, any Program Asset consisting of real property that is retained by MCA-Mongolia, subject to the terms of MCC’s Program Closure Guidelines, Lesotho II after the expiration or termination of the Compact shall shall, in accordance with the terms of the Program Closure Guidelines, be subject to a reversionary interest of MCC for a period of five (5) years commencing on the last day of the Closure Periodclosure period; and if at any time during that five-year period, the Government wishes to sell the real property or use it for a purpose that is not related to the Program or does not continue to further the Project ObjectiveProgram objectives, the Government shall compensate MCC for its interest in the real property by paying to MCC an amount equal to the fair market value of MCC’s reversionary interest in the real property determined at such time.

Appears in 1 contract

Samples: Program Implementation Agreement

Disposal of Program Assets Consisting of Real Property. The Government shall will ensure that no Program Asset consisting of real property is (A) subject to any lease or sub-sub- lease arrangement, in whole or in part or (B) sold, donated or otherwise disposed of, in whole or in part; except, in each of the foregoing cases, with MCC’s prior written approval. In addition, any Program Asset consisting of real property that is retained by MCA-MongoliaLiberia, subject to the terms of MCC’s the Program Closure Guidelines, after the expiration or termination of the Compact shall will be subject to a reversionary interest of MCC for a period of five (5) years commencing on the last day of the Closure Periodclosure period; and if at any time during that five-year period, the Government wishes to sell the real property or use it for a purpose that is not related to the Program or does not continue to further the Project ObjectiveProgram objectives, the Government shall will compensate MCC for its interest in the real property by paying to MCC an amount equal to the fair market value of MCC’s reversionary interest in the real property determined at such time.

Appears in 1 contract

Samples: Program Implementation Agreement

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Disposal of Program Assets Consisting of Real Property. The Government shall will ensure that no Program Asset consisting of real property is (A) subject to any lease or sub-lease arrangement, in whole or in part or (B) sold, donated or otherwise disposed of, in whole or in part; except, in each of the foregoing cases, with MCC’s prior written approval. In addition, any Program Asset consisting of real property that is retained by MCA-MongoliaMorocco, subject to the terms of MCC’s the Program Closure Guidelines, after the expiration or termination of the Compact shall will be subject to a reversionary interest of MCC for a period of five (5) years commencing on the last day of the Closure Periodclosure period; and if at any time during that five-year period, the Government wishes to sell the real property or use it for a purpose that is not related to the Program or does not continue to further the Project ObjectiveProgram objectives, the Government shall will compensate MCC for its interest in the real property by paying to MCC an amount equal to the fair market value of MCC’s reversionary interest in the real property determined at such time.

Appears in 1 contract

Samples: Program Implementation Agreement

Disposal of Program Assets Consisting of Real Property. The Government shall will ensure that no Program Asset consisting of real property is (A) subject to any lease or sub-sub- lease arrangement, in whole or in part or (B) sold, donated or otherwise disposed ofif, in whole or in part; except, in each of the foregoing cases, with MCC’s prior written approval. In addition, any Program Asset consisting of real property that is retained by MCA-MongoliaXxXX, subject to the terms of MCC’s the Program Closure Guidelines, after the expiration or termination of the Compact shall will be subject to a reversionary interest of MCC for a period of five (5) years commencing on the last day of the Closure Periodclosure period; and if at any time during that five-year period, the Government wishes to sell the real property or use it for a purpose that is not related to the Program or does not continue to further the Project ObjectiveProgram objectives, the Government shall will compensate MCC for its interest in the real property by paying to MCC an amount equal to the fair market value of MCC’s reversionary interest in the real property determined at such time.

Appears in 1 contract

Samples: Program Implementation Agreement

Disposal of Program Assets Consisting of Real Property. The Government shall will ensure that no Program Asset consisting of real property is (A) subject to any lease or sub-lease arrangement, in whole or in part part, or (B) sold, donated or otherwise disposed of, in whole or in part; except, in each of the foregoing cases, with MCC’s prior written approval. In addition, any Program Asset consisting of real property that is retained by MCA-MongoliaNepal, subject to the terms of MCC’s the MCC Program Closure Guidelines, after the expiration or termination of the Compact shall will be subject to a reversionary interest of MCC for a period of five (5) years commencing on the last day of the Closure Periodclosure period; and if at any time during that five-year period, the Government wishes to sell the real property or use it for a purpose that is not related to the Program or does not continue to further the Project ObjectiveObjectives, the Government shall will compensate MCC for its interest in the real property by paying to MCC an amount equal to the fair market value of MCC’s reversionary interest in the real property determined at such time.

Appears in 1 contract

Samples: Program Implementation Agreement

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