OCCUPIED PROPERTY Sample Clauses

OCCUPIED PROPERTY. Seller makes no representations or warranties as to whether the property is occupied as of the Closing Date. Buyer expressly waives any right to terminate this Agreement based on the status of the occupancy of the Property. Xxxxx acknowledges that Buyer may be subject to any federal, state, or local laws in regards to protecting the rights of tenants who may be occupying the Property.
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OCCUPIED PROPERTY. Seller makes no representation or warranty as to whether the Property is occupied as of Closing. If Seller or Buyer believe the Property may be occupied, they shall so notify the other and Seller and Buyer shall execute an Addendum to this Agreement in the form supplied by Seller related to such occupancy. If Xxxxx fails or refuses to execute such Addendum in the form provided by seller, such action or inaction shall constitute a material default by Buyer and Seller may elect to terminate this Agreement.
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OCCUPIED PROPERTY. Buyer shall take the Property subject to the rights of existing tenants and/or occupants. Seller has provided to Buyer prior to the date hereof copies of all written leases affecting the Property of which Seller is aware. Seller shall transfer to Buyer, through escrow, all tenant security deposits. Seller makes no warranty regarding compliance with legal requirements regarding rent amounts and/or the maximum number of people who can occupy the Property. Seller shall not agree to any material modification of a written lease without giving Xxxxx’s prior consent, not to be unreasonably withheld. Seller is not aware of any defaults under any written lease affecting the Property, or eviction proceedings affecting the Property, or persons occupying the property without a written lease, except as otherwise disclosed to Buyer.
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OCCUPIED PROPERTY. XXXXX UNDERSTANDS AND ACKNOWLEDGES THAT SELLER MAY HAVE ACQUIRED THE PROPERTY (AS DEFINED IN THE PURCHASE AGREEMENT) THROUGH FORECLOSURE, DEED-IN-LIEU OF FORECLOSURE, OR SIMILAR PROCESS, THAT SELLER HAS NEVER OCCUPIED THE PROPERTY, AND THAT SELLER HAS LITTLE OR NO DIRECT KNOWLEDGE ABOUT THE CONDITION OF THE PROPERTY. XXXXXX MAKES NO REPRESENTATIONS OR WARRANTIES AS TO WHETHER THE PROPERTY IS OCCUPIED AS OF THE CLOSE OF ESCROW BUT BELIEVES THE PROPERTY TO BE OCCUPIED. PROPERTY MAY BE SUBJECT TO LEASEHOLD INTERESTS OF VARIOUS TENANTS. Seller is under no obligation to provide any information regarding leases, amendments or any other documents, including but not limited to information regarding any current eviction proceedings to Buyer. Xxxxx understands and acknowledges that Seller will not provide any case numbers, current disposition of any eviction proceedings, nor contact information for Seller’s attorney. Further, the progress and/or outcome of any current eviction case will have no bearing whatsoever in the transaction contemplated by the Purchase Agreement and its terms, any addenda thereto, including the mutually agreed upon Closing Date. Xxxxx further acknowledges that Buyer shall be solely responsible for notifying any tenants or occupants of the transfer of ownership of the Property, and shall be liable to any and all tenants for repayment of any outstanding security deposit, less lawful deductions. This provision shall survive the Close of Escrow and/or the Closing of the transaction contemplated by the Purchase Agreement and this Addendum and shall not be deemed to have merged into any of the documents executed or delivered at Closing. Because the Property was acquired by Seller through foreclosure, trustee’s sale pursuant to a power of sale under a deed of trust, power of sale under a mortgage, sheriff’s sale or deed in lieu of foreclosure, Seller has no security deposits or last month’s rent to surrender to Buyer. Buyer acknowledges that Buyer may be subject to the Protecting Tenant’s at Foreclosure Act reenacted May 24, 2018] (the “Act”) or to state law, as applicable.
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OCCUPIED PROPERTY. Upon information and belief and without an independent investigation having been performed by the Seller, as of the date of this Occupancy Addendum, the Property may be occupied by persons asserting a legal interest in the Property and/or who may claim a right to lease, use or occupy all or a portion of the Property ("Occupants"). Seller makes no representation about the existence or identity of Occupants or their entitlement, if any, to occupy the Property. Purchaser acknowledges that the Seller has not made any warranties or representations, implied or express, relating to the existence or nonexistence of any Occupants at the Property other than advising Purchaser that the Property may have Occupants in possession of the Property or claiming the right to occupy or use the Property or any portion thereof. Purchaser agrees to purchase the Property subject to the rights of such Occupants, if any, and to indemnify and hold Seller harmless from and against any liabilities, costs, claims or expenses arising out of such occupancy or claims of Occupants as of the date of closing. Xxxxxxxxx agrees to be solely responsible for all matters relating to occupancy of the Property after closing.
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Related to OCCUPIED PROPERTY

  • B8 Property B8.1 Where the Client issues Property free of charge to the Contractor such Property shall be and remain the property of the Client and the Contractor irrevocably licences the Client and its agents to enter upon any premises of the Contractor during normal business hours on reasonable notice to recover any such Property. The Contractor shall not in any circumstances have a lien or any other interest on the Property and the Contractor shall at all times possess the Property as fiduciary agent and bailee of the Client. The Contractor shall take all reasonable steps to ensure that the title of the Client to the Property and the exclusion of any such lien or other interest are brought to the notice of all sub-contractors and other appropriate persons and shall, at the Client’s request, store the Property separately and ensure that it is clearly identifiable as belonging to the Client.

  • Leased Property Upon and subject to the terms and conditions hereinafter set forth, Landlord leases to Tenant and Tenant leases from Landlord all of Landlord's right, title and interest in and to all of the following (collectively, the "Leased Property"):

  • Abandoned Property If Tenant abandons the Premises, or is dispossessed by process of law or otherwise, any movable furniture, equipment, trade fixtures or personal property belonging to Tenant and left in the Premises shall be deemed to be abandoned, at the option of Landlord, and Landlord shall have the right to sell or otherwise dispose of such personal property in any commercially reasonable manner.

  • THE PROPERTY The Landlord agrees to lease the described property below to the Tenant: (enter the property information)

  • Real Property; Personal Property (a) On the Disaffiliation Date, Local Church will have full title and ownership of the Real Property and Personal Property. The parties shall ensure all necessary transfers or other transactions relating to the above properties are completed on or prior to the Disaffiliation Date. Any costs resulting from such transfers or other transactions shall be borne by Local Church. Annual Conference shall fully cooperate with Local Church, as needed and applicable, to ensure that such transfers and other transactions convey all of Annual Conference’s interest – both for itself and on behalf of The United Methodist Church – in the Real Property and Personal Property, both tangible and intangible, of Local Church.

  • Leased Real Property Section 3.13(b) of the Company Disclosure Letter contains a true, correct and complete list of (i) all of the real property that is leased, subleased, licensed or otherwise used or occupied by, the Company or any of its Subsidiaries (such property, the “Leased Real Property”) and (ii) all leases, subleases, licenses or other Contracts pursuant to which the Company or its Subsidiaries use or occupy, or have the right to use or occupy, now or in the future, such Leased Real Property (each, a “Lease”). The Company has made available to Parent true, correct and complete copies of all Leases (including all material modifications, amendments and supplements thereto), and in the case of any oral Lease, a written summary of the material terms of such Lease. The Company and/or one of its Subsidiaries, as the case may be, have and own good, valid and subsisting leasehold interests in the Leased Real Property under each Lease, subject to proper authorization and execution of such Lease by the other party thereto and Permitted Liens, except in each case, as enforcement may be limited by the Enforceability Limitations, except as would not, individually or in the aggregate, have a Company Material Adverse Effect. With respect to each Lease and except as would not, individually or in the aggregate, have a Company Material Adverse Effect or materially and adversely affect the current use by the Company or its Subsidiaries of the Leased Real Property, (i) each Lease is in full force and effect and a valid, binding and legally enforceable obligation of the Company or its applicable Subsidiary, as the case may be, and, to the Knowledge of the Company, the other parties thereto (except in each case as may be limited by the Enforceability Limitations); (ii) each Lease has not been amended or modified in any material respect except as reflected in the modifications, amendments, supplements and side letters thereto made available to Parent; (iii) there is no existing material default or event of default by the Company or any of its Subsidiaries or, to the Knowledge of the Company, any other party thereto, under any Lease (iii) to the Knowledge of the Company, there are no disputes with respect to any Lease; (iv) neither the Company nor any of its Subsidiaries has collaterally assigned or granted any other security interest in such Lease or any interest therein; and (v) there are no Liens (other than Permitted Liens) on the estate or interest created by such Lease. The Leased Real Property is in all material respects in good operating condition and in a state of good and working maintenance and repair, ordinary wear and tear excepted, and is adequate and suitable for its current uses and purposes. There are no physical conditions or defects on any part of the Leased Real Property that would materially impair or would be reasonably expected to materially impair the continued operation of the business of the Company and its Subsidiaries as presently conducted at such Leased Real Property.

  • Leased Premises Lessor hereby leases to Lessee, and Lessee leases and takes from Lessor, the Leased Premises subject to the conditions of this Lease.

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