Land Title and Mineral Title Sample Clauses

Land Title and Mineral Title. AuRico and New AuRico agree that from and after the time contemplated by Section 2.3(e) of the Plan of Arrangement in respect of any New AuRico Property that is mineral title or land title where legal title has not, for any reason, transferred from AuRico to New AuRico as of the time contemplated by Section 2.3(e) of the Plan of Arrangement (the “Bare Trust Assets”), AuRico shall be deemed to have assigned and transferred to New AuRico all of its beneficial right and interest in and to such New AuRico Property and the legal title to such New AuRico Property will remain in the name of AuRico or Amalco, as the case may be, until such time as legal title can be transferred to New AuRico. AuRico acknowledges and declares that its legal interest in the Bare Trust Assets from and after the time contemplated by Section 2.3(e) of the Plan of Arrangement is held on behalf of New AuRico as its nominee, agent and bare trustee and that it has no interest in the Bare Trust Assets other than as set out in this Section 10.6. New AuRico shall indemnify and hold harmless AuRico and Amalco for, from and against any and all Claims and Losses sustained, suffered or incurred by any of them as a result of, arising out of or in connection with the holding of the Bare Trust Assets or the arrangements contemplated by this Section 10.6.
Sample 1
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Related to Land Title and Mineral Title

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  • Title and Risk of Loss Notwithstanding the form of shipment, title or other property interest, risk of loss shall not pass from the Contractor to the Authorized User until the Products have been received, inspected and accepted by the receiving entity. Acceptance shall occur within a reasonable time or in accordance with such other defined acceptance period as may be specified in the Bid Specifications or Purchase Order. Mere acknowledgment by Authorized User personnel of the delivery or receipt of goods (e.g., signed xxxx of lading) shall not be deemed or construed as acceptance of the Products received. Any delivery of Product that is substandard or does not comply with the Bid Specifications or Contract terms and conditions, may be rejected or accepted on an adjusted price basis, as determined by the Commissioner.

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