Ownership of the Facilities Sample Clauses

Ownership of the Facilities. The stormwater management/BMP facilities required to be constructed and maintained by the Grantor under the Maintenance Agreement shall be and remain the property of the Grantor. This Deed of Dedication and Easement shall not be construed to be an assumption of ownership or control by the Grantee over the stormwater management/ BMP facilities subject to the Maintenance Agreement.
Sample 1
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Ownership of the Facilities. The Facilities subject to the Leases are the property of the respective Lessors in undivided interests, subject to the rights of the Company and/or San Xxxxxx to reacquire the same pursuant to the terms of the respective Leases; and the balance of Facilities are the property of San Xxxxxx. The Authority shall have no right, title or interest in the Facilities.
Sample 1
Ownership of the Facilities. 9.1 Notwithstanding the payment of any service connection fee by the Customer, RWSL shall have full title to all equipment installed and ownership and responsibility will end at the point of delivery, referred to as the valve curb stop. 9.2 The Customer shall, at his own expense, install a connection for water service (25mm PVC or PE Series 160), from the RWSL curb stop, being at the point of delivery, to the RWSL meter at the Customer’s service location and shall maintain it in good repair at all times. The water service line shall be installed a minimum of 2.5 meters below ground level and preferably 3.0 meters below ground level under driveways and parking areas.
Sample 1
Ownership of the Facilities. 4.1 The Facilities and all the equipment, accessories, supplies, spare parts and materials forming part thereof, with the exception of Items required and supplied by the Operator in respect of the operation and maintenance of the Facilities shall be owned by APSA and the Operator shall have no rights to offer or place in guarantee any part or all of the Facilities.
Sample 1
Ownership of the Facilities. 3.1 Unless otherwise specified in Schedule 3, the Facilities shall be owned jointly by the Participants and subject to any adjustments rendered necessary by the operation of Clauses 16, 17, 18 or 19 such ownership shall be by means of equal Ownership Interests. If necessary a balancing payment shall be made between the Participants to achieve equal ownership of the assets. This payment is set out in the “Sale of Assets Agreement” (Schedule 6). The Participants agree that such payment shall represent and achieve equal ownership of the assets. 3.2 An Ownership Interest includes the following rights, liabilities and obligations under this Agreement: (a) the beneficial ownership as tenant in common of an interest in the Facilities, the Authorisation, and any other property owned collectively by the Participants; (b) the obligation, subject to the terms of this Agreement, to contribute to any costs and liabilities arising out of this Agreement; and (c) all other rights, liabilities and obligations accruing to or incurred by the Participants in or arising out of this Agreement. 3.3 The initial capital requirements required to [construct and] [Retain "construct and" if construction is planned] operate the Facilities shall be obtained by means of a capital contribution from each Participant (in proportion to each Participant’s percentage Ownership Interest in the Facilities). It is intended that, once the Operating Committee has arranged for the initial capital requirements of the Facilities to be met, it shall be self‑financing to the extent possible from the revenue generated from the Throughput Fees. However, subject to Clause 10, if further capital is required for the operations of the Facilities or the construction of Additional Facilities pursuant to Clause 10, this shall be obtained as the Operating Committee shall determine (which determination in the case of (c) below require the affirmative unanimous vote of all the Participants whether present or not) from either: (a) loans from a third party or parties; (b) capital contributions from the Participants in proportion to each Participant’s Ownership Interest; (c) loans from the Participants in proportion to each Participant’s Ownership Interest; or (d) loans by one or more Participants on terms negotiated on an individual basis between the Operating Committee and the Participant(s) concerned.
Sample 1
Ownership of the Facilities. The facilities are the property of San Xxxxxx. The Authority shall have no right, title or interest in the Facilities.
Sample 1
Ownership of the Facilities. Title to, and ownership of, the Facilities shall remain vested in Owner. Title to any new Facilities or improvement or replacement to any existing Facilities which is obtained pursuant to this Agreement shall vest automatically in Owner without any other action necessary hereunder.
Sample 1
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Related to Ownership of the Facilities

  • OWNERSHIP OF THE ASSETS LNY will have exclusive and absolute ownership and control of its assets, including all assets in the Variable Account.

  • Ownership of the Property (a) Lessor and Lessee intend that (i) for financial accounting purposes with respect to Lessee (A) this Lease will be treated as an "operating lease" pursuant to Statement of Financial Accounting Standards (SFAS) No. 13, as LEASE amended, (B) Lessor will be treated as the owner and lessor of the Properties and (C) Lessee will be treated as the lessee of the Properties, but (ii) for federal, state and local income tax and all other purposes (A) this Lease will be treated as a financing arrangement, (B) the Lenders will be treated as senior lenders making loans to Lessee in an amount equal to the Loans, which Loans will be secured by the Properties, (C) Lessor will be treated as a subordinated lender making a loan to Lessee in an amount equal to the Investor Contribution, which loan is secured by the Properties, and (D) Lessee will be treated as the owner of the Properties and will be entitled to all tax benefits ordinarily available to an owner of property like such Property for such tax purposes. Nevertheless, Lessee acknowledges and agrees that none of the Participants has made any representations or warranties to Lessee concerning the tax, accounting or legal characteristics of the Operative Agreements and that Lessee has obtained and relied upon such tax, accounting and legal advice concerning the Operative Agreements as it deems appropriate. The parties hereto will not take any position inconsistent with the intentions expressed herein. (b) Lessor and Lessee further intend and agree that, for the purpose of securing Lessee's obligations for the repayment of the above-described loans, (i) this Lease shall also be deemed to be a security agreement and financing statement within the meaning of Article 9 of the Uniform Commercial Code and a real property mortgage or deed of trust, as applicable; (ii) the conveyance provided for in Section 2 shall be deemed a grant of a security interest in and a mortgage lien on Lessee's right, title and interest in the Properties (including the right to exercise all remedies as are contained in the applicable Lease Supplement and Memorandum of Lease upon the occurrence of a Lease Event of Default) and all proceeds of the conversion, voluntary or involuntary, of the foregoing into cash, investments, securities or other property, whether in the form of cash, investments, securities or other property, for the benefit of Lessor to secure Lessee's payment of all amounts owed by Lessee under this Lease and the other Operative Agreements and Lessor holds title to the Properties so as to create and grant a first lien and prior security interest in each Property pursuant to this Lease for the benefit of the Administrative Agent under the Assignment of Lease, to secure to the Administrative Agent the obligations of Lessee under the Lease; (iii) the possession by Lessor or any of its agents of notes and such other items of property as constitute instruments, money, negotiable documents or chattel paper shall be deemed to be "possession by the secured party" for purposes of perfecting the security interest pursuant to Section 9-305 of the Uniform Commercial Code; and (iv) notifications to Persons holding such property, and acknowledgments, receipts or confirmations from financial intermediaries, bankers or agents (as applicable) of Lessee shall be deemed to have been given for the purpose of perfecting such security interest under applicable law. Lessor and Lessee shall, to the extent consistent with this Lease, take such actions as may be necessary to ensure that, if this Lease were deemed to create a security interest in the Properties in accordance with this Section, such security interest would be deemed to be a perfected security interest of first priority under applicable law and will be maintained as such throughout the Term. Nevertheless, Lessee acknowledges and agrees that no Participant has provided or will provide tax, accounting or legal advice to Lessee regarding this Lease, the Operative Agreements or the transactions contemplated hereby and thereby, or made any representations or warranties concerning the tax, accounting or legal characteristics of the Operative Agreements, and that Lessee has obtained and relied

  • Ownership of Interests The Interest Owners are the owners of all of the Interests, each owning the percentage set forth in Item 2(a) of Schedule 1, and have good and valid title thereto, with no restrictions on, or any agreements with respect to, voting rights or any other incidents of ownership thereof, except as set forth in the Company’s Organizational Documents. The Interests represent one hundred percent (100%) of the record and beneficial interests in the Company and all other right, title and interest in and to the equity of the Company. The Interest Owners have the absolute right to sell and transfer all of the Interests to Buyer free and clear of all Interest Liens. Each Interest Owner acquired its Interest in compliance with all applicable laws. On consummation of the Contemplated Transactions, in accordance with the terms hereof, Buyer will acquire good and marketable title to the Interests free and clear of all Interest Liens.

  • Ownership of the Company At all times while this Parent Guarantee Agreement is in effect and while any of the obligations of the Parent Guarantor hereunder remain outstanding, one hundred percent (100%) of the outstanding capital stock of the Company shall be owned by the Parent Guarantor.

  • Ownership of the Borrower Except as set forth in the Partnership Agreement of the Borrower, the Borrower has no obligation to any Person to purchase, repurchase or issue any ownership interest in it.

  • Ownership of Equipment Any equipment purchased by or furnished to the Grantee by the State under this grant agreement is provided on a loan basis only and remains the property of the State.

  • Ownership of the Shares Selling Shareholders own all of the Shares, free and clear of all liens, claims, rights, charges, encumbrances, and security interests of whatsoever nature or type.

  • Ownership of the Leased Property Lessee acknowledges that the Leased Property is the property of Lessor and that Lessee has only the right to the possession and use of the Leased Property upon the terms and conditions of this Lease.

  • Ownership of the Obligors An Obligor (other than the Company) is not or ceases to be a Subsidiary of the Company.

  • Joint Ownership of Interests A Partnership Interest may be acquired by two individuals as joint tenants with right of survivorship, provided that such individuals either are married or are related and share the same home as tenants in common. The written consent or vote of both owners of any such jointly held Partnership Interest shall be required to constitute the action of the owners of such Partnership Interest; provided, however, that the written consent of only one joint owner will be required if the Partnership has been provided with evidence satisfactory to the counsel for the Partnership that the actions of a single joint owner can bind both owners under the applicable laws of the state of residence of such joint owners. Upon the death of one owner of a Partnership Interest held in a joint tenancy with a right of survivorship, the Partnership Interest shall become owned solely by the survivor as a Limited Partner and not as an assignee. The Partnership need not recognize the death of one of the owners of a jointly-held Partnership Interest until it shall have received notice of such death. Upon notice to the General Partner from either owner, the General Partner shall cause the Partnership Interest to be divided into two equal Partnership Interests, which shall thereafter be owned separately by each of the former owners.

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