Immovable assets Sample Clauses
Immovable assets. The Company does not have any real estate or related rights, interests or obligations. However, it does have valid and binding lease interests; such lease interests are intact and free and clear of any Encumbrances and no third party has asserted that it has rights or interests of senior priority in such lease interests. With respect to the property or assets leased by the Company that have a substantive connection with its operations, the Company is in compliance with the lease terms therefor, has valid lease interests in such assets, and they are free and clear of any liens, Encumbrances or security interests or of claims by any third party other than the lessor of such property or assets.
Immovable assets the Company does not have any real estate or related rights, interests or obligations.
Immovable assets. Upon a regular termination of this Agreement for any cause whatsoever, occasioned by the expiration of its term(s), except for termination resulting from a breach of this Agreement by the GOVERNMENT, or termination pursuant to Article XXIX, Section 1, all lien free permanent immovable assets of the CONCESSIONAIRE in the Concession Area that are not otherwise the property of the GOVERNMENT shall become the property of the GOVERNMENT without charge. In the event of a breach by either Party hereto, the value of the non-movable assets shall be taken into account in any award of damages under Article XXXI, Section 6.
Immovable assets. 8.5.1. The Company does not own, hold or have any other legal title over immovable assets, other than the lease agreement for the Company’s headquarters.
8.5.2. The Company has a valid title to use the locations from which it operates pursuant to valid and binding legal title. The Company is compliant with the terms thereof and no written claim of any default thereunder has been received by the Company which has not been cured and consummation of the Transaction will not give rise to any right of termination or loss of any rights of use currently enjoyed under such lease agreements. All rent and other sums and charges payable and which, from time-to-time, were due, under such legal titles, have been paid accordingly by the Company.
8.5.3. There are no notices received by the Company, negotiations or proceedings pending concerning rent increases in relation to the locations from which the Company operates.
8.5.4. The use by the Company of the headquarters is the permitted or lawful use for the purpose of the applicable planning laws. The necessary planning permission has been granted in respect of the developments carried out by the Company in relation to the locations and all necessary consents have been obtained for such developments.
Immovable assets. Upon a regular termination of this Agreement for any cause whatsoever, occasioned by the expiration of its term(s), except for termination resulting from a breach of this Agreement by the GOVERNMENT, or termination pursuant to Article XXIX, Section 1, all lien free permanent immovable assets of the CONCESSIONAIRE in the Concession Area that are not otherwise the property of the GOVERNMENT shall become the property of the GOVERNMENT without charge. In the event of a breach by either Party hereto, the value of the non-movable assets shall be taken into account in any award of damages under Article XXXI, Section 6. Notwithstanding the preceding paragraph, prior to the termination of this Agreement, the CONCESSIONAIRE shall have the right to control all its property and assets, whether or not the same are to revert to and become the property of the GOVERNMENT upon such termination and to freely dispose of any property not required for the conduct of the Operations and pledge or otherwise encumber such properties to secure financings.