Joint Venture Property. 53. 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.
Joint Venture Property. 52. Where allowed by statute, title to all Venture property, including intellectual property, will remain in the name of the Venture. Where joint ventures are not recognized by statute as separate legal entities, Venture property, including intellectual property, will be held in the name of one or more Members. In all cases Venture property will be applied by the Members exclusively for the benefit and purposes of the Venture and in accordance with this Agreement.
Joint Venture Property. 5.1 The parties shall own an undivided interest in all JV Property in proportion to their respective Percentage Interests.
Joint Venture Property. 52. 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.
Joint Venture Property. 57. Each Member represents and warrants that this Agreement is not in
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.
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.
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.
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--.
Joint Venture Property
