Ownership of Land. The End User acknowledges that the land identified in Part 5 of Schedule 2:
(a) is not owned or controlled by Aurizon Network; and
(b) is not land the entry to which is included within the definition of “Access” in Aurizon Network’s Access Undertaking (as those provisions are amended, varied or replaced from time to time), and agrees that in respect of that land owned or controlled by another person (“Landowner”) then:
(c) the End User will comply with the requirements of the Landowner in relation to that land as notified to the End User by Aurizon Network from time to time;
(d) if, after the date of this Agreement, there is a change in the costs incurred by Aurizon Network due to the requirements of the Landowner in respect of that land, then that change shall be deemed to be a Material Change; and
(e) if Aurizon Network’s rights in respect of that land are terminated for any reason other than the default of Aurizon Network of any agreement that affects Aurizon Network’s use of that land or other than by agreement with the Landowner, then Aurizon Network may by notice to the End User suspend and/or terminate the Access Rights insofar as they relate to that part of the Nominated Network which is situated on that land.
Ownership of Land. The End User acknowledges that the land identified in Part 5 of Schedule 2:
(a) is not owned or controlled by QR Network; and
(b) is not land the entry to which is included within the definition of “Access” in QR Network’s Access Undertaking (as those provisions are amended, varied or replaced from time to time), and agrees that in respect of that land owned or controlled by another person (“Landowner”) then:
(c) the End User will comply with the requirements of the Landowner in relation to that land as notified to the End User by QR Network from time to time;
(d) if, after the date of this Agreement, there is a change in the costs incurred by QR Network due to the requirements of the Landowner in respect of that land, then that change shall be deemed to be a Material Change; and
(e) if QR Network’s rights in respect of that land are terminated for any reason other than the default of QR Network of any agreement that affects QR Network’s use of that land or other than by agreement with the Landowner, then QR Network may by notice to the End User suspend and/or terminate the Access Rights insofar as they relate to that part of the Nominated Network which is situated on that land.
Ownership of Land. The Access Holder acknowledges that QR does not own or control the land identified in Part 5 of Schedule 2 and agrees that in respect of that land owned or controlled by another person (“Landowner”) then:
(a) the Access Holder will comply (and will cause the Operator to comply) with the requirements of the Landowner in relation to that land as notified to the Access Holder by QR from time to time;
(b) if, after the date of this Agreement, there is a change in the costs incurred by QR due to the requirements of the Landowner in respect of that land, then that change shall be deemed to be a Material Change; and
(c) if QR’s rights in respect of that land are terminated for any reason other than the default of QR of any agreement that affects QR’s use of that land or other than by agreement with the Landowner, then QR may by notice to the Access Holder suspend and/or terminate the Access Rights insofar as they relate to that part of the Nominated Network which is situated on that land.
Ownership of Land. The Access Holder acknowledges that the land identified in Part 5 of Schedule 2:
(a) is not owned or controlled by QR Network; and
(b) is not land the entry to which is included within the definition of “Access” in QR Network’s Access Undertaking (as those provisions are amended, varied or replaced from time to time), and agrees that in respect of that land owned or controlled by another person (“Landowner”) then:
(c) the Access Holder will comply (and will cause the Operator to comply) with the requirements of the Landowner in relation to that land as notified to the Access Holder by QR Network from time to time;
(d) if, after the date of this Agreement, there is a change in the costs incurred by QR Network due to the requirements of the Landowner in respect of that land, then that change shall be deemed to be a Material Change; and
(e) if QR Network’s rights in respect of that land are terminated for any reason other than the default of QR Network of any agreement that affects QR Network’s use of that land or other than by agreement with the Landowner, then QR Network may by notice to the Access Holder suspend and/or terminate the Access Rights insofar as they relate to that part of the Nominated Network which is situated on that land.
Ownership of Land. 17.1 The Xxxxx Xxxxxx Properties and the Certificated Properties are the only immovable properties owned, used or occupied by an Xxxxx Xxxxxx Group Company or in respect of which any Xxxxx Xxxxxx Group Company has any estate, interest, right or ownership.
17.2 In relation to the Xxxxx Xxxxxx Properties:
(A) the relevant Xxxxx Xxxxxx Group Company specified in Schedule 8 as the owner (the "Owner") of an Xxxxx Xxxxxx Property is legally and beneficially entitled to that Xxxxx Xxxxxx Property and the Owner has under its control all of the title deeds and documents details of which are set out in the Disclosure Documents;
(B) the Owner holds the Xxxxx Xxxxxx Property subject to the leases, underleases, sub-leases, tenancies or licences particulars of which are set out in the Disclosure Letter but is otherwise in physical possession and actual occupation of the Xxxxx Xxxxxx Property (as applicable);
(C) The Owner has title to the interest in the Property described in Schedule 8 to this Agreement and such title is adequate for the use of the Property for the purposes of the business of the Owner as it is currently carried on;
(D) There are no encumbrances or third party interests which would inhibit or prevent the use of the relevant Property for its current use.
(E) Each of the Xxxxx Xxxxxx Properties which is leasehold is held under a lease the brief details of which are set out in Schedule 8.
17.3 In relation to the U.K. Properties:
(A) Neither GEC nor the Owner is aware of a material breach by the Owner of any provision of any lease under which the Owner holds the U.K. Property (excluding any breach arising out of the state and condition of the relevant U.K. Property) where such breach is still outstanding;
(B) GEC has not received nor is it aware that the Owner as its owner has received notice in writing of any outstanding breach nor is GEC aware of any such breach under planning legislation in respect of the relevant U.K. Property;
(C) GEC has not received nor is it aware that the Owner has received notice in writing of and neither GEC nor the Owner is aware of any compulsory purchase order affecting a material part of the relevant U.K. Property which is currently in force; and
(D) Neither GEC nor the Owner is aware of any legal proceedings or of any circumstance which in the reasonable opinion of GEC or the Owner will result in legal proceedings in respect of the relevant U.K. Property which are or are likely to be material in the context of the business ...
Ownership of Land. 8.5.1 On the last day of each Fiscal Quarter that ends on or after December 31, 2006, (i) the aggregate book value of all Approved Land and Raw Land owned by Borrowers, Guarantor or any subsidiary of a Borrower or Guarantor shall not exceed thirty percent (30%) of Guarantor’s Consolidated Adjusted Tangible Net Worth and (ii) the ratio of (a) the book value of all Land owned by Borrowers, Guarantor or any subsidiary of a Borrower or Guarantor which is not subject to a Qualifying Agreement of Sale and on which no Unit has been constructed or is being constructed to (b) Guarantor’s Consolidated Adjusted Tangible Net Worth shall not exceed the applicable ratio determined as follows: December 31, 2006 1.90:1 March 31, 2007 1.90:1 June 30, 2007 1.75:1 September 30, 2007 1.65:1 December 31, 2007 1.65:1 March 31, 2008 and thereafter 1.50:1
8.5.2 Notwithstanding the provisions of Section8.5.1 hereof, on the last day of each Fiscal Quarter that ends on or after the Collateral Release Date (i) the aggregate book value of all Approved Land and Raw Land owned by Borrowers, Guarantor or any subsidiary of a Borrower or Guarantor shall not exceed twenty-five percent (25%) of Guarantor’s Consolidated Adjusted Tangible Net Worth and (ii) the ratio of (a) the book value of all Land owned by Borrowers, Guarantor or any subsidiary of a Borrower or Guarantor which is not subject to a Qualifying Agreement of Sale and on which no Unit has been constructed or is being constructed to (b) Guarantor’s Consolidated Adjusted Tangible Net Worth shall not exceed 1.25:1.
Ownership of Land. The Operator acknowledges that QR Network does not own or control the land identified in Part 5 of Schedule 2 and agrees that in respect of that land owned or controlled by another person (“Landowner”) then:
(a) the Operator will comply with the requirements of the Landowner in relation to that land as notified to the Operator by QR Network from time to time;
(b) if, after the date of this Agreement, there is a change in the costs incurred by QR Network due to the requirements of the Landowner in respect of that land, then that change shall be deemed to be a Material Change; and
(c) if QR Network’s rights in respect of that land are terminated for any reason other than the default of QR Network of any agreement that affects QR Network’s use of that land or other than by agreement with the Landowner, then QR Network may by notice to the Operator suspend and/or terminate the Access Rights insofar as they relate to that part of the Nominated Network which is situated on that land.
Ownership of Land. 5.1 The Developer warrants that it has legally enforceable rights to purchase the Option Land on terms which enable it to comply with the provisions of clause 5.2.
5.2 The Developer will ensure that it becomes the registered proprietor of the Option Land, or any part thereof, prior to any obligations arising under this Agreement which require works to be carried out on the Option Land, or which require any part of the Option Land to be dedicated to Council, unless otherwise agreed with Council.
5.3 Within 14 days of the Developer exercising any option to purchase the Option Land, the Developer must notify the Council in writing of:
5.3.1 the date that the option was exercised; and
5.3.2 the date on which it will become the registered proprietor of the Option Land.
Ownership of Land. On the last day of each Fiscal Quarter that ends on or after June 30, 2007, (i) the aggregate book value of all Approved Land and Raw Land owned by Borrowers, Guarantor or any subsidiary of a Borrower or Guarantor shall not exceed twenty five percent (25%) of Guarantor’s Consolidated Adjusted Tangible Net Worth and (ii) the ratio of (a) the book value of all Land owned by Borrowers, Guarantor or any subsidiary of a Borrower or Guarantor which is not subject to a Qualifying Agreement of Sale and on which no Unit has been constructed or is being constructed to (b) Guarantor’s Consolidated Adjusted Tangible Net Worth shall not exceed the following applicable ratio: June 30, 2007 2.10:1 September 30, 2007 2.00:1 December 31, 2007 2.00:1 March 31, 2008 2.00:1 June 30, 2008 1.85:1 September 30, 2008 1.85:1 December 31, 2008 1.85:1 March 31, 2009 and thereafter 1.75:1
Ownership of Land. The Company has no interest in any freehold, leasehold or other immovable property in any part of the world.
