Identity Of Property Sample Clauses

Identity Of Property a. The Purchaser shall admit the identity of the Property purchased with that described in the Proclamation of Sale and such other documents such as muniments offered by the Auctioneer as to the title to the Property upon the evidence afforded by the comparison of the description in the particulars and muniments respectively and with that described in the Security Documents without requiring any further proof.
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Identity Of Property. (a) The Purchaser admits the identity of the Property with that defined in the description of Property.
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Identity Of Property a. The Purchaser shall admit the identity of the Property purchased with that described in the Proclamation of Sale and such other documents such as muniments offered by the Auctioneer as the title of the Property upon the evidence afforded by the comparison of the description in the particulars and muniments respectively and with that described in the Security Documents without requiring any further proof. b. The Purchaser shall accept the area shown in the particulars of the Proclamation of Sale or Conditions of Sale or Memorandum. The Assignee shall not be liable to the Purchaser for any discrepancy (ies) appearing after the sale concerning the identity of the Property purchased or the area shown in the particulars of the Conditions of Sale.
Sample 1
Identity Of Property a. The Purchaser shall admit the identity of the Property purchased with that described in the Proclamation of Sale and such other documents such as muniments offered by the Auctioneer as to the title to the Property upon the evidence afforded by the comparison of the description in the particulars and muniments respectively and with that described in the Security Documents without requiring any further proof. b. The Purchaser shall accept the area shown in the particulars of the Proclamation of Sale or Conditions of Sale or Memorandum. The Assignee shall not be liable to the Purchaser for any discrepancy(ies) appearing after the sale concerning the identity of the Property purchased or the area shown in the particulars of the Conditions of Sale. c. Upon issuance of the strata/individual title to the Property, if the land or floor area 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 borne and paid solely by the Purchaser. d. If the land or floor area of the Property is found to be less then that as described, any claim for the reduced area shall be undertaken solely by the Purchaser against the Developer and/or such other party and the auction sale herein shall not be annulled and neither the Assignee, the Assignee’s Solicitors nor the Auctioneer shall be liable thereof for such claim.
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Identity Of Property. While it seems evident that the purchase agreement must identify the property, it may not be quite so evident how to accomplish this goal. The most obvious answer—use of the street address—usually is not the best approach. While the address can help identify the property, it does not describe the boundaries of the land. References to tax lot numbers can also be misleading. The parties typically will prefer to use the legal description of the property.6 This description often will take the form of a metes and bounds boundary description and may be quite lengthy; for this reason, it may be attached at the end of the purchase agreement as an exhibit rather than included in the body of the agreement itself. The lawyer who chooses to attach the legal description as an exhibit should remember to incorporate that exhibit into the agreement by reference. Remember to include the less obvious elements of the property that may not be encompassed by the legal description of the boundary, such as beds of adjoining public roads, rights-of-way, subsurface rights (including mineral rights), air rights, and devel- opment rights. And be sure to include the improvements located on the land you have just described. In some locations, a street address or block and lot number will suffice. When the property consists of one or more subdivided lots, the parties may use references to numbered lots that are shown on recorded subdivision plats. These devices are particularly useful in newer developments that have been platted, such as residential subdivisions or industrial parks; in heavily urbanized areas, where addresses or block and lot numbers may have been issued in a pre- dictable way and where lots may be of a uniform size and shape; and in condominium properties, where the units typically will be described in a publicly available condominium plan. The use of U.S. Government Survey information is standard in many western and some midwestern and southeastern states, particularly when refer- ring to agricultural property. In all of these examples, the drafter’s use of the “shorthand” information serves to refer the reader to a more precise method of determining the boundaries of the property. Comment: Occasionally properties are identified either by imprecisely drawn plats or by tax plats that are prepared by the local jurisdiction. Tax plats tend to be extremely inaccurate and should not be relied on as the basis for a property description. Properties more frequently are descr...
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Related to Identity Of Property

  • IDENTITY OF THE PROPERTY 11.1 The Purchaser shall admit the identity of the Property with that described in the Proclamation of Sale and such other documents offered by the Assignee/Bank as the title to the Property by a comparison of the description in the Proclamation of Sale and the aforesaid documents.

  • Removal of Property Unless otherwise agreed to in writing by Landlord, Tenant agrees that there are and shall be no trade fixtures in the Premises owned by Tenant. Upon expiration or earlier termination of this Lease, Tenant may remove its personal property, office supplies and office furniture and equipment if (a) such items are readily moveable and are not attached to the Premises; (b) such removal is completed prior to the expiration or earlier termination of this Lease; (c) Tenant is not in default of any covenant or condition of this Lease (beyond the expiration of any applicable notice and cure periods) at the time of such removal; and (d) Tenant promptly repairs all damage caused by or resulting from such removal. All other property in the Premises and any Tenant Alterations (including, wall-to-wall carpeting, paneling, wall covering, lighting fixtures and apparatus or Telecommunication Facilities or any other article affixed to the floor, walls, ceiling or any other part of the Premises or Building) shall become the property of Landlord and shall remain upon and be surrendered with the Premises; provided, however, at Landlord’s sole election, upon written notice by Landlord to Tenant at the time of approval of the plans and specifications for the Tenant Alterations, Tenant shall be obligated, at its sole cost and expense, to remove all (or such portion as Landlord shall have designated at the time of giving consent to such Tenant Alterations) of the Tenant Alterations (including Telecommunication Facilities), repair any damages resulting from such removal and return the Premises to substantially the same condition as existed prior to such Tenant Alterations. Tenant waives all rights to any payment or compensation for such Tenant Alterations (including Telecommunication Facilities). If Tenant shall fail to remove any of its property from the Premises, Building or Land at the expiration or earlier termination of this Lease or when Landlord has the right of re-entry, Landlord may, at its option, remove and store such property at Tenant’s expense without liability for loss of or damage to such property, such storage to be for the account and at the expense of Tenant. Tenant shall pay all costs incurred by Landlord within five (5) Business Days after written demand for such payment. If Tenant fails to pay the cost of storing any such property, Landlord may, at its option, after it has been stored for a period of twenty (20) Business Days or more, sell or permit to be sold, any or all such property at public or private sale (and Landlord may become a purchaser at such sale), in such manner and at such times and places as Landlord in its sole discretion may deem proper, without notice to Tenant, and Landlord shall apply the proceeds of such safe: first, to the cost and expense of such sale, including reasonable attorney’s fees actually incurred; second, to the payment of the costs or charges for storing any such property; third, to the payment of any other sums of money which may then be or later become due Landlord from Tenant under this Lease; and, fourth, the balance, if any, to Tenant.

  • Description of Property A narrative description of the Real Estate, the improvements thereon and the tenants and Leases relating to such Real Estate.

  • Protection of Property Seller assumes, and shall ensure that all subcontractors thereof and their respective employees assume, the risk of loss or destruction of or damage to any property of such parties whether owned, hired, rented, borrowed or otherwise, brought to a facility owned or controlled by Buyer or Buyer’s customer. Seller waives, and shall ensure that any subcontractor thereof and their respective employees waive, all rights of recovery against Buyer, its subsidiaries and their respective directors, officers, employees and agents for any such loss, destruction or damage. At all times Seller shall, and ensure that any subcontractor thereof shall, use suitable precautions to prevent damage to Buyer's property. If any such property is damaged by the fault or negligence of Seller or any subcontractor thereof, Seller shall, at no cost to Buyer, promptly and equitably reimburse Buyer for such damage or repair or otherwise make good such property to Buyer’s satisfaction. If Seller fails to do so, Buyer may do so and recover from Seller the cost thereof.

  • CONDITION OF PROPERTY Seller or the originator of the Mortgage Loan inspected or caused to be inspected each related Mortgaged Property within six months of origination of the Mortgage Loan and within twelve months of the Cut-off Date. An engineering report or property condition assessment was prepared in connection with the origination of each Mortgage Loan no more than twelve months prior to the Cut-off Date. To Seller’s knowledge, based solely upon due diligence customarily performed in connection with the origination of comparable mortgage loans, as of the Closing Date, each related Mortgaged Property was free and clear of any material damage (other than (i) deferred maintenance for which escrows were established at origination and (ii) any damage fully covered by insurance) that would affect materially and adversely the use or value of such Mortgaged Property as security for the Mortgage Loan.

  • Inspection of Property The Borrower and each of its Subsidiaries will keep proper books and records in accordance with GAAP and will permit reasonable examinations of its books and records and reasonable inspections of its property (subject to reasonable procedures relating to safety and security), accompanied by personnel of the Borrower, by the Administrative Agent and any Lender and/or their respective accountants or other professional advisers; provided that such examinations and inspections (a) will occur not more frequently than once in any calendar year, with reasonable efforts to make combined visits (unless a Default or an Event of Default has occurred and is continuing in which case such examinations may occur as frequently as reasonably determined by the Administrative Agent or any Lender, with no obligation to combine visits), (b) will be at the sole expense of the Administrative Agent and/or requesting Lender, as the case may be (unless a Default or an Event of Default has occurred and is continuing in which case such examinations will be at the expense of the Borrower), (c) will be undertaken at reasonable times following the provision of written notice in advance to the Borrower, and (d) will not unduly interfere with the operations or management of the Borrower’s business. Notwithstanding anything set forth herein to the contrary, under no circumstances shall the Borrower or any Subsidiary be required to disclose, permit the inspection, examination or making copies or abstracts of, or discussion of, any document, information or other matter (i) that constitutes non−financial trade secrets or non-financial confidential proprietary information, (ii) in respect of which disclosure to the Administrative Agent or any Lender (or their respective Affiliates, representatives, contractors, accountants or other professionals) is prohibited by any Governmental Rule or binding confidentiality agreement with a Person that is not an Affiliate of the Borrower and that was not entered into in contemplation of this Agreement, (iii) that is subject to attorney−client or similar privilege or constitutes attorney work product, or (iv) in the case of any discussions with accountants, only if the Borrower has been given the opportunity to participate in the discussions.

  • PARTICULARS OF PROPERTY Title No / Lot No : Individual Title yet to be registered (Presently held under Parent Title: CL No. 075209504. A Draft Individual Title held under CL No. 075535330 has been provided but pending registration) Mukim / District / State : Sandakan, Sabah Land / Floor Area : 3,000 square feet / 278.7 square metres, more or less Tenure : Leasehold 60 years from 01-01-2018 to 31-12-2077 Developer : Spring Shine (Sabah) Sdn. Bhd. Beneficial Owners : Xxxxx Xxx Xxxx Encumbrance(s) : Assigned to Sinarmas Jasa Sdn. Bhd. Location and Description : The subject property is a 2-storey intermediate terraced industrial building located on Xxx Xx. 00, Xxxxx Xxxxxx Xxxxx, Xxxx 0, Xxxxx Xxxxx, 00000 Xxxxxxxx, Xxxxx Reserve Price : The Property will be sold on an “as is where is” basis, subject to a reserve price of RM660,000.00 (Ringgit Malaysia Six Hundred Sixty Thousand Only), subject to the Conditions of Sale and byway of an assignment from the above Assignee/Lender subject to consent being obtained by the successful bidder (“the Purchaser”) from the Developer/Proprietor and relevant authorities, if any, including all terms, conditions, stipulations and covenants which were and may be imposed by the Developer/Proprietor and relevant authority. Deposit : All intending bidders are required to deposit with MESSRS PG ACT FAST AUCTION (SABAH) SDN BHD (“the Auctioneer”) a sum equivalent to 10% of the fixed reserve price (“the initial deposit”) by way of bank draft or cashier’s order crossed “A/C PAYEE ONLY” made payable to SINARMAS JASA SDN BHD or remit the same through online banking transfer to the bank account of SINARMAS JASA SDN BHD, one (1) working day before the auction date and pay the difference between the initial deposit and the sum equivalent to 10% of the successful bid price (“differential sum”) either via bank draft or cashier’s order crossed “A/C PAYEE ONLY” made payable to SINARMAS JASA SDN BHD or remit the same through online banking transfer within THREE (3) WORKING DAYS after the fall of the hammer. The initial deposit and the differential sum shall be collectively known as “the deposit”. The balance of the purchase price is to be settled within ninety (90) days from the date of auction sale to SINARMAS JASA SDN BHD. Please refer to the Auctioneer’s Online Terms and Conditions on xxx.xxxxxxxx0x.xxx.xx Website on the manner of payment of the deposit. For further particulars, please contact the Solicitors for the Assignee/Lender or the Licensed Auctioneer.

  • Acquisition of Property The Contractor shall document that all property was acquired consistent with its engineering, production planning, and property control operations.

  • Abandonment of Property We need not accept any property abandoned by an "insured".

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