DISPOSAL OF THE PROPERTY Sample Clauses

DISPOSAL OF THE PROPERTY. 15.1 For Grants which include National Lottery Heritage Funds of £15,001 and above (total Grant of £20,001 or above), if the Grantee sells or lets the Property or part of it (‘a disposal’) within 10 years of the signing of this Agreement, the Grantee must inform the Council and on completion of the sale or lease pay to the Council a proportion of the Grant calculated in the way described in Clause 14.2 below: 15.2 For fixed-percentage Grants of £20,001 and above the following repayment clause applies: a) The council must be notified immediately in writing of any disposal of the whole or any part of the relevant interest in the Property, to take place within 10 years from the signing of this Agreement, by way of sale or exchange or lease for a term of not less than 21 years, or by gift (otherwise than by will). Notification must include details of the proposed purchaser or recipient of gift, and the proposed sale price. b) On completion of the disposal of the relevant interest, the Grantee must pay to us the Grant or a proportion of it calculated in accordance with the following formula: G x (CV - OV) x (10 - Y) = R C 10 Where: G = the Grant C = the eligible cost of the project excluding VAT (if any) you have recovered OV = the open market value of your interest in the Property agreed with us at the start of the Project being £4,345,000 CV = the open market value of your interest in the Property on completion of the disposal Y = the number of complete years from the date of this Agreement R = the amount we require to be repaid to us out of the proceeds of the disposal (not to exceed the total Grant paid) 15.3 The Grantee must ensure that repayment of the Grant is made on or as soon as possible after the sale or lease of the property has been completed. 15.4 The Council may at any time assign or transfer the benefit or burden of this Agreement to the Trustees of the National Heritage Memorial Fund and allow it to conduct any proceedings against the Grantee for breach of it. 15.5 The Council reserves the right to suspend or stop payment of the Grant if the Trustees of the National Heritage Memorial Fund are unable to continue funding the Scheme (this is only likely to occur in the event that the National Lottery ceases operation or there are insufficient funds made available to the Trustees of the National Heritage Memorial Fund). 15.6 The terms and conditions in this Clause 14 will last for 10 years for Grants including a contribution from the Trustees of th...
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DISPOSAL OF THE PROPERTY. It is hereby agreed that the Purchaser shall acquire the Property from the Seller by Sectional Title in terms of the Sectional Title’s Act, 1986.
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DISPOSAL OF THE PROPERTY. During the Term of this Agreement the Organisation must not Dispose of the Property, any interest in the Property, or any part of the Property, without first: (a) obtaining the Commonwealth’s consent in writing (such consent may be withheld at the Commonwealth’s sole and unfettered discretion); and (b) requiring the purchaser, transferee, lessee, licensee, mortgagee, charge, grantee or other disponee to enter into a deed of covenant with the Commonwealth under which the purchaser, transferee, lessee, licensee, mortgagee, charge, grantee or other disponee covenants in favour of the Commonwealth to use the Property and perform the Designated Use until the expiry of the Designated Use Period.
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DISPOSAL OF THE PROPERTY. It is hereby agreed that the PURCHASER shall acquire the PROPERTY from the SELLER by Sectional Title in terms of the Sectional Titles Act (Number 95 of 1986). Initial here 3.1 The SELLER shall take whatever steps are necessary to have the PROPERTY transferred into the name of the PURCHASER, such transfer to be attended to by the CONVEYANCERS, and the SELLER shall be liable for the costs of such transfer and attorney bond costs (excluding bank initiation fee) and opening of the Sectional Title register. However, should any bond to be registered over the Property simultaneously with transfer of the Property into 3.2 Transfer of the PROPERTY into the name of the PURCHASER shall take place against payment of the full PURCHASE PRICE, plus any other amounts due in terms of 1.9 and 1.16 of Schedule 1 hereto and in terms of any other provision/s and which are payable by the PURCHASER to the SELLER for or in respect of the PROPERTY.
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DISPOSAL OF THE PROPERTY. It is hereby agreed that the PURCHASER shall acquire the PROPERTY from the SELLER by Sectional Title in terms of the Sectional Titles Act (Number 95 of 1986). Initial here 3.1 The SELLER shall take whatever steps are necessary to have the PROPERTY transferred into the name of the PURCHASER, such transfer to be attended to by the CONVEYANCERS, and the SELLER shall be liable for the costs of such transfer and attorney bond costs (excluding bank initiation fee) and opening of the Sectional Title register. 3.2 Transfer of the PROPERTY into the name of the PURCHASER shall take place against payment of the full PURCHASE PRICE, plus any other amounts due in terms of 1.9 and 1.16 of Schedule 1 hereto and in terms of any other provision/s and which are payable by the PURCHASER to the SELLER for or in respect of the PROPERTY.
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DISPOSAL OF THE PROPERTY. Xxxx Xxx has agreed to dispose to the Purchaser the Property. The gross floor area of the Property is approximately, 22,820 square feet. The Property is currently rented to Xxxx Xxx (Allied) Limited which is a wholly-owned subsidiary of the Group for the operation of a restaurant at a monthly rental of HK$500,000. As at 31 December 2002, the unaudited net book value of the Property is HK$87.5 million and the leasehold improvement of the Group located at the Property is HK$7,756,000.
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DISPOSAL OF THE PROPERTY. In respect of the Borrowers and the Property Nominee, the Borrowers and the Property Nominee shall not dispose of all or any part of the Property or the Signage other than: (i) leases, subleases or licenses to tenants, or any assignment or amendment thereof, entered into in the ordinary course of business; (ii) provided no Default or Event of Default has occurred and is continuing or could reasonably be expected to result therefrom, a Permitted Disposition. In respect of EPR, EPR shall not dispose of or permit any of its Subsidiaries to Dispose of, any Real Estate or any other Assets other than Dispositions in the ordinary course of business for fair market value.
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Related to DISPOSAL OF THE PROPERTY

  • Disposal of Property a) Prior to disposal of any property purchased with funds from this Contract or any predecessor Contract, Subrecipient must obtain approval from CDA for reportable property. Disposition, which includes sale, trade-in, discarding, or transfer to another agency may not occur until approval is received from CDA. Subrecipient shall email to County the electronic version of the Request to Dispose of Property (CDA 248). CDA will then instruct County on disposition of the property, and County will notify Subrecipient. Once approval for disposal has been received from CDA, and the County has reported to CDA the Property Survey Report’s (STD 152) Certification of Disposition, the item(s) shall be removed from Subrecipient’s inventory report. b) Subrecipient must remove all confidential, sensitive, or personal information from CDA property prior to disposal, including removal or destruction of data on computing devices with digital memory and storage capacity. This includes, but is not limited to magnetic tapes, flash drives, personal computers, personal digital assistants, cell or smart phones, multi-function printers, and laptops.

  • Disposal of Waste The licensee shall have to make their own arrangements for daily disposal of waste (after segregation of dry and wet waste) out of Maha-Metro premises. The wastes shall be dumped at sites approved by concerned civic agencies to ensure perfect cleanliness. If any kind of waste is found disposed off on Maha-Metro land or premises a penalty/fine of Rs. 5000/- per instance shall be imposed by Maha-Metro for each occasion.

  • Operation of the Property Between June 1, 1998 and the Closing Date, Seller shall (a) lease, operate, manage and enter into contracts with respect to the Property, in the same manner done by Seller prior to the date hereof (provided, however, that without the prior consent of Purchaser, which as to (i) and (ii) shall not be unreasonably delayed, conditioned or withheld, (i) Seller shall not enter into any Service Contract that cannot be terminated with thirty (30) days notice or materially modify any existing Service Contracts to be assumed by Purchaser at Closing, and (ii) after June 1, 1998, Seller shall not materially modify or terminate any existing Tenant Lease or grant any material consents under any existing Tenant Lease (except as otherwise required pursuant to the terms and conditions of such Tenant Lease), or enter into any new Tenant Lease, and (iii) Seller shall not apply any then unapplied Deposits (as reflected on the Rent Roll delivered by Seller to Purchaser pursuant to Schedule 5.3(vii) hereof) under Tenant Leases); and (b) advise Purchaser of the commencement of any litigation, condemnation or other judicial or administrative proceedings affecting the Property of which Seller has current actual knowledge. Notwithstanding anything to the contrary set forth in this Contract, Purchaser acknowledges that after June 1, 1998 and prior to Closing, Seller will enter into contracts for the completion of Tenant improvements under Tenant Leases entered into after June 1, 1998 pursuant to the terms of Section 12.1 hereof (collectively, the "Tenant Finish Contracts"). Purchaser and Seller agree that at Closing, Purchaser shall assume the obligations of Seller under all such Tenant Finish Contracts including, without limitation, the obligations to pay any costs and expenses charged with respect to construction of improvements in the space subject to such Tenant Leases. At Closing, Purchaser shall execute and deliver to the Seller an Assignment, Assumption and Indemnity Agreement in the form attached hereto as Exhibit H and made a part hereof for all purposes.

  • RISK OF THE PROPERTY As from the time of the sale, the Property shall be at the sole risk of the Purchaser as regards to loss or damage of whatsoever nature or howsoever occurring including by fire or other accidents, state of cultivation, non-occupation or otherwise.

  • Disposal of Assets Where the Academy Trust acquires assets for a nil consideration or at an under value it shall be treated for the purpose of this Agreement as having incurred expenditure equal to the market value of those assets at the time that they were acquired. This provision shall not apply to assets transferred to the Academy Trust at nil or nominal consideration and which were previously used for the purposes of an Academy and/or were transferred from an LA, the value of which assets shall be disregarded.

  • Sale of the Property Any sale of the Property shall not affect this Lease or any of your obligations, but upon such sale we will be released from all of our obligations under this Lease and the new owner of the Property will be responsible for the performance of the duties of "Landlord" from and after the date of such sale.

  • B8 Property Where the Client issues Property free of charge to the Contractor such Property shall be and remain the property of the Client and the Contractor irrevocably licences the Client and its agents to enter upon any premises of the Contractor during normal business hours on reasonable notice to recover any such Property. The Contractor shall not in any circumstances have a lien or any other interest on the Property and the Contractor shall at all times possess the Property as fiduciary agent and bailee of the Client. The Contractor shall take all reasonable steps to ensure that the title of the Client to the Property and the exclusion of any such lien or other interest are brought to the notice of all sub-contractors and other appropriate persons and shall, at the Client’s request, store the Property separately and ensure that it is clearly identifiable as belonging to the Client.

  • Possession of the Property The Parties hereby agree that the exclusive possession of the Property shall be delivered by the Seller to the Buyer on

  • Condition of the Property THE LESSEE ACKNOWLEDGES AND AGREES THAT IT IS LEASING THE PROPERTY "AS IS" WITHOUT REPRESENTATION, WARRANTY OR COVENANT (EXPRESS OR IMPLIED) BY THE LESSOR AND SUBJECT TO (A) THE EXISTING STATE OF TITLE, (B) THE RIGHTS OF ANY PARTIES IN POSSESSION THEREOF, (C) ANY STATE OF FACTS WHICH AN ACCURATE SURVEY OR PHYSICAL INSPECTION MIGHT SHOW, AND (D) VIOLATIONS OF REQUIREMENTS OF LAW WHICH MAY EXIST ON THE DATE HEREOF OR ON THE ACQUISITION DATE. THE LESSOR HAS NOT MADE AND SHALL NOT BE DEEMED TO HAVE MADE ANY REPRESENTATION, WARRANTY OR COVENANT (EXPRESS OR IMPLIED) AND SHALL NOT BE DEEMED TO HAVE ANY LIABILITY WHATSOEVER AS TO THE TITLE (OTHER THAN FOR LESSOR LIENS), VALUE, HABITABILITY, USE, CONDITION, DESIGN, OPERATION, OR FITNESS FOR USE OF THE PROPERTY (OR ANY PART THEREOF), OR ANY OTHER REPRESENTATION, WARRANTY OR COVENANT WHATSOEVER, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY (OR ANY PART THEREOF) AND THE LESSOR SHALL NOT BE LIABLE FOR ANY LATENT, HIDDEN, OR PATENT DEFECT THEREIN (OTHER THAN FOR LESSOR LIENS) OR THE FAILURE OF THE PROPERTY, OR ANY PART THEREOF, TO COMPLY WITH ANY REQUIREMENT OF LAW.

  • DESCRIPTION OF THE PROPERTY 13.1 The Property as referred to in the Proclamation of Sale shall be deemed to have been correctly and sufficiently described. 13.2 All intended bidders including the Purchaser shall be deemed to have sought independent legal advice, made necessary enquiries, searches and inspection of the Property and is satisfied with the identity, description, state and condition of the Property. 13.3 In the event of any error, misstatement, omission and/or misdescription of any kind relating to the Property in the Proclamation of Sale or any other documents, such error, misstatement, omission and/or misdescription shall not in any manner annul the sale, nor shall there be any adjustment of the Purchase Price nor shall compensation be allowed nor shall the Bank be open to any liability of any form. 13.4 If the land or floor area of the property is found to exceed that as described and additional payment is imposed for the excess area by the Developer and/or relevant authorities, then such additional payment shall be solely and absolutely borne and paid by the Purchaser 13.5 If the land or floor area of the property is found to be less that as described, any claim for the reduced area shall be undertaken solely by the Purchaser against the Developer and/or such party and neither the Assignee/ Bank , the Assignee/ Bank’s solicitors nor the Auctioneer shall in any way responsible or liable for such claim. The auction sale herein shall not be annulled and there shall not be any adjustment of the Purchase Price as a result of such shortfall in the area of the Property.

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