Joint Venture Property Sample Clauses

Joint Venture Property. Where allowed by statute, title to all Joint Venture property subsequently acquired pursuant to Section 11 of this agreement, will remain in the name of the Joint Venture. Where joint ventures are not recognized by statute as separate legal entities, Joint Venture property, including intellectual property, will be held in the name of one or more Members. In all cases Joint Venture property will be applied by the Members exclusively for the benefit and purposes of the Joint Venture and in accordance with this Agreement.
Sample 1Sample 2Sample 3See All (13)
AutoNDA by SimpleDocs
Joint Venture Property. The parties shall own an undivided interest in all JV Property in proportion to their respective Percentage Interests.
Sample 1Sample 2
Joint Venture Property. GCN is a wholly-owned subsidiary of Lakes. GCN owns (or leases with options to purchase) three (3) contiguous parcels of land (some of which has been improved by buildings that may be replaced upon redevelopment by the Company) located on and near the corner of Las Vegas Boulevard and Harmon Avenue in the Las Vegas, Clarx Xxxnty, Nevada, which parcels are more fully described in SCHEDULE 1 attached to this Agreement and hereby made a part hereof (collectively, the "Joint Venture Property"). As indicated in SCHEDULE 1, the three "Named Parcels" parcels included in the Joint Venture Property are designated individually, for purposes of this Agreement, as follows: (1) "the Shark Club" or "Parcel A," (2) "the Travelodge" or "Parcel B" and (3) the "Polo Plaza" or "Parcel C." GCN owns a ground lease on the Shark Club (the "Shark Club Lease") that includes GCN's option to buy the fee interest in the Shark Club for a fixed price, which option must be exercised by January 10, 2001. The Polo Plaza is owned by GCN. GCN also owns a 99-year ground lease on the Travelodge (the "Travelodge Lease") that includes GCN's option to buy the fee interest in the Travelodge for a fixed price, which option must be exercised in the twentieth year of that lease period (approximately 2 years of which have elapsed). The Shark Club Lease and the Travelodge Lease are more fully described in the form of Real Estate Option Agreement attached hereto as EXHIBIT A and hereby made a part hereof (the "Company's Option Agreement"), under which GCN intends to grant the Company an option to purchase each Named Parcel (or any "assessor's parcel" thereof) of the Joint Venture Property, subject to certain rights of Metroplex to review and object to the condition and title of the Joint Venture Property during a limited period set forth in the Company's Option Agreement.
Sample 1
Joint Venture Property. In case allowed by a competent and applicable law, all business titles pertaining to the Venture assets which includes but not limited to intellectual property of the venture will be under the ownership of the Venture. However, in case the venture does not hold a separate legal entity the assets will be held under the legal names of one or more members of the venture. The members are under the obligation to only utilize and exploit the Venture Assets for the sole purpose and benefit of the Venture and not combine them with other purposes or benefits.
Sample 1
Joint Venture Property. All property, real, personal, or mixed, from time to time owned by Joint Venturers shall determine that, for convenience, legal title to any such property shall be held in the name of one or more Joint Venturers; provided, all Joint Venture property held in the name of one or more Joint Venturers during the term of the Joint Venture shall be equitable land beneficially owned by the Joint Venture until termination and such nominee and trustee of the recorded legal title to such property for the Joint Venture's sole benefit, subject to the provisions of paragraph--.
Sample 1
Joint Venture Property. 5.1 The Parties shall own all JV Property (other than the Apex Yapen Shares) as tenants in common in proportion to their respective Percentage Interests. 5.2 The Parties fully understand and recognize that certain items procured by and paid for by the Joint Venture and normally considered to be included in the definition of JV Property may in fact be subject to ownership rights of Pertamina in accordance with the provisions of the PSC and the Permit. In any such circumstances where there is any conflict of interpretation between this JOA and the Permit with regard to what constitutes JV Property or Pertamina property or property which is deemed to be Pertamina property but is under the custody and control of the Operator on behalf of the Joint Venture for so long as the Permit is in effect then the interpretation of the PSC and the Permit shall apply and the meaning of the terms JV Property herein shall be modified and interpreted accordingly. 5.3 Each Party shall from time to time at the request of another Party deliver such transfers and other documents as are necessary to record and protect the Percentage Interest from time to time of the other Parties in the Permit and the JV Property. Until such transfers are effected, each Party holding JV Property from time to time shall hold the JV Property in trust for all of the Parties proportionately to their then respective Percentage Interests. 6
Sample 1
Joint Venture Property. All Intellectual Property Rights developed by, or acquired for the benefit of the Joint Venture, the cost of which was an Expenditure under the Agreement, will be Joint Venture Property.
Sample 1
AutoNDA by SimpleDocs
Joint Venture Property. Each Member represents and warrants that this Agreement is not in
Sample 1
Joint Venture Property 
Sample 1Sample 2

Related to Joint Venture Property

  • Joint Venture Nothing contained in the Agreement shall be construed as creating a joint venture, partnership, agency or employment relationship between Plan and Controlled Affiliate or between either and BCBSA.

  • Joint Ventures The joint venture or partnership arrangements in which the Company or the Partnership is a co-venturer or general partner which are established to acquire or hold Assets.

  • Joint Venture, Consortium or Association 6.1 If the Supplier is a joint venture, consortium, or association, all of the parties shall be jointly and severally liable to the Procuring Entity for the fulfilment of the provisions of the Contract and shall designate one member of the joint venture, consortium, or association to act as a leader with authority to bind the joint venture, consortium, or association. The composition or the constitution of the joint venture, consortium, or association shall not be altered without the prior written consent of the Procuring Entity.

  • Not a Joint Venture Nothing in the Contract shall be construed as creating or constituting the relationship of a partnership, joint venture, (or other association of any kind or agent and principal relationship) between the parties thereto. Each party shall be deemed to be an independent contractor contracting for goods and services and acting toward the mutual benefits expected to be derived herefrom. Neither Contractor nor any of Contractor's agents, servants, employees, subcontractors or contractors shall become or be deemed to become agents, servants, or employees of the State. Contractor shall therefore be responsible for compliance with all laws, rules and regulations involving its employees and any subcontractors, including but not limited to employment of labor, hours of labor, health and safety, working conditions, workers' compensation insurance, and payment of wages. No party has the authority to enter into any contract or create an obligation or liability on behalf of, in the name of, or binding upon another party to the Contract.

  • No Joint Venture or Partnership Each Borrower and Lender intend that the relationship created hereunder be solely that of borrower and lender. Nothing herein is intended to create a joint venture, partnership, tenants-in-common, or joint tenancy relationship between any Borrower and Lender nor to grant Lender any interest in any Individual Property other than that of mortgagee or lender.

  • No Joint Venture Nothing contained in this Agreement (i) shall constitute the Administrator and either of the Issuer or the Owner Trustee as members of any partnership, joint venture, association, syndicate, unincorporated business or other separate entity, (ii) shall be construed to impose any liability as such on any of them or (iii) shall be deemed to confer on any of them any express, implied or apparent authority to incur any obligation or liability on behalf of the others.

  • Partnership The Partnership shall be given days’ notice to purchase the ownership interest under the same terms agreed upon by the potential buyer.

  • Partnership Property All property, real, personal, tangible, intangible, or mixed, acquired by or contributed to the Partnership shall be owned by the Partnership and titled in its name and such property shall not be owned individually by any Partner. Each Partner acknowledges and agrees that the System and all elements thereof, are the exclusive property of the Company and are not Partnership property. Each Partner acknowledges and agrees that the Proprietary Marks are the exclusive property of the Company and are not Partnership property. Each Partner acknowledges and agrees that the Partnership shall not acquire or own any land or buildings. Any land or buildings used in the Partnership business shall be acquired and owned by the Company or an Affiliate of the Company and leased to the Partnership at reasonable rates and terms, and such land and buildings shall not be Partnership property.

  • Partnerships and Joint Ventures No Loan Party shall become a general partner in any general or limited partnership or a joint venturer in any joint venture.

  • Joint Venture Agreement The shareholder entity designated by each ASEAN country shall negotiate and conclude, as soon as possible, a joint Venture Agreement acceptable to Malaysia and the Parties, for the setting up of an ASEAN Urea Project in Malaysia. Such joint Venture Agreement shall set out among others: The name and capital structure of the joint Venture company; Constitution of the Board of Directors of the joint Venture company: Protection of minority interests; Scope of the project and its financing.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!