No Merger of Project Facilities. The Corporation and County confirm that the Project Facilities shall be property of the Corporation and title thereto shall remain vested in the Corporation and shall not merge into the respective leasehold estates of the Corporation in the Real Property and that title to the Project Facilities shall revert to and be vested in the County upon termination of the Sub-Base Lease. Undivided interests in the Project Facilities are automatically conveyed to the County from time to time as Acquisition Payments are made as contemplated hereby. ARTICLE IV
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Samples: Public Facilities Purchase and Occupancy Agreement, Public Facilities Purchase and Occupancy Agreement
No Merger of Project Facilities. The Corporation and County confirm that the Project Facilities shall be property of the Corporation and title thereto shall remain vested in the Corporation and shall not merge into the respective leasehold estates of the Corporation in the Real Property and that title to the Project Facilities shall revert to and be vested in the County upon termination of the Sub-Base Lease. Undivided interests in the Project Facilities are automatically conveyed to the County from time to time as Acquisition Payments are made as contemplated hereby. ARTICLE IV.
Appears in 2 contracts
Samples: Public Facilities Purchase and Occupancy Agreement, Public Facilities Purchase and Occupancy Agreement
No Merger of Project Facilities. The Corporation and County City confirm that the Project Facilities shall be property of the Corporation and title thereto shall remain vested in the Corporation and shall not merge into the respective leasehold estates of the Corporation in the Real Property and Property, except that title to the said Project Facilities shall revert to and be vested in the County City upon termination of the Sub-Base Lease. Undivided interests in the Project Facilities are automatically conveyed to the County City from time to time as Acquisition Payments are made as contemplated hereby. ARTICLE IV.
Appears in 1 contract
Samples: Municipal Facilities Purchase and Occupancy Agreement
No Merger of Project Facilities. The Corporation and County confirm that the Project Facilities shall be property of the Corporation and title thereto shall remain vested in the Corporation and shall not merge into the respective leasehold estates of the Corporation in the Project Facilities Real Property and Property, except that title to the said Project Facilities shall revert to and be vested in the County upon termination of the Sub-Base Lease. Undivided The Corporation shall have the power to convey undivided interests in the Project Facilities are automatically conveyed to the County from time to time as Acquisition Payments are made as contemplated hereby. ARTICLE IV.
Appears in 1 contract
