No Real Property or Trust Interest Sample Clauses

No Real Property or Trust Interest. This Agreement entitles you to occupy your Residence and to obtain the services specified in the Agreement. You shall have no estate, leasehold, or other real property interest in your Residence or the community or any ownership or managerial interest in McLean. You may not lease your Residence to any person or allow any person to occupy it in your place. All fees paid by you to McLean, including the Entrance Fee once it is released to McLean pursuant to Connecticut law, shall become the sole property of McLean and are not held in trust.
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No Real Property or Trust Interest. This Agreement entitles you to occupy your Residence and to obtain the services specified in the Agreement. You shall have no estate, leasehold, or other real property interest in your Residence or the community or any ownership or managerial interest in XxXxxx. You may not lease your Residence to any person or allow any person to occupy it in your place. All fees paid by you to XxXxxx, including the Entrance Fee once it is released to XxXxxx pursuant to Connecticut law, shall become the sole property of XxXxxx and are not held in trust.
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No Real Property or Trust Interest. This Agreement entitles you to occupy your Residence and to obtain the services specified in this Agreement. You shall have no estate, leasehold, or other real property interest in your Residence or in the Community or any ownership or managerial interest in Operator. You may not lease your Residence to any other person or allow any person to occupy it in your place. All fees paid by you to Operator, including Community Fees, shall become the sole property of Operator and are not held in trust.
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Related to No Real Property or Trust Interest

  • U.S. Real Property Holding Corporation The Company is not and has never been a U.S. real property holding corporation within the meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Purchaser’s request.

  • Real Property Holding Corporation The Company is not and has never been a U.S. real property holding corporation within the meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Purchaser’s request.

  • Real Property All real property and interests in real property owned in fee by it or any of its Subsidiaries (individually, an “Owned Property”) and all real property and interests in real property leased, subleased, licensed used or otherwise occupied by it or one of its Subsidiaries and any prime or underlying leases, subleases, licenses or other use or occupancy agreements relating thereto (individually, a “Leased Property”) are set forth or described in the Form 10-K filed by it with the SEC for the year ended December 31, 2015 or otherwise Previously Disclosed, except for any Owned Property or Leased Property which is not, individually or in the aggregate, material to it and its Subsidiaries, taken as a whole. It or its Subsidiaries, as applicable, has good and valid fee title to all Owned Property and good and valid leasehold title to all Leased Property (an Owned Property or Leased Property being sometimes referred to herein, individually, as a “Property” and, collectively, the “Properties”), in each case subject only to (i) (x) Liens described in the Form 10-K filed by it with the SEC for the year ended December 31, 2015, (y) Liens which are Previously Disclosed or of record and not material, or (z) inchoate workmen’s, repairmen’s or other similar Liens arising or incurred in the ordinary course of business consistent with past practice relating to obligations as to which there is no default on the part of it or any of its Subsidiaries or that individually or in the aggregate, do not impair, and would not reasonably be expected to impair, the continued use and operation of the Property to which they relate in the conduct of the business of it or its Subsidiaries as presently conducted, (ii) leases, subleases and similar agreements Previously Disclosed or for the benefit of it or its Affiliates or which are not material to it and its Subsidiaries taken as a whole and which were entered into in the ordinary course of business consistent with past practice and (iii) easements, covenants, rights-of-way and other similar restrictions of record, if any, that, (x) are for the benefit of it or its Affiliates or (y) are granted to third parties and, individually or in the aggregate, do not impair, and would not reasonably be expected to impair, the continued use and operation of the Property to which they relate in the conduct of the business of it or its Subsidiaries as presently conducted. Any reciprocal easements, operating agreements, option agreements, rights of first refusal or rights of first offer with respect to any Property at which a casino or hotel project is operated are Previously Disclosed, except with respect to any Property which is not, individually or in the aggregate, material to it and its Subsidiaries, taken as a whole. To its knowledge, there are no physical conditions or defects at any of the Properties at which casino or hotel operations are conducted which impair or would be reasonably expected to impair the continued operation and conduct of the casino, hotel and related businesses as presently conducted at each such Property. To its knowledge, all leases, subleases, licenses and other use or occupancy agreements pursuant to which it or its Subsidiaries leases, subleases, licenses, uses or occupies any Leased Property are valid and in full force and effect.

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