Property Disposition. Lessor shall not sell, lease, transfer or otherwise dispose of its right, title and interest in the Property and the Operative Documents except as provided in Subparagraph 2.11(b) or Subparagraph 7.05(d) or after retaining the Property following the Expiration Date.
Property Disposition. 2.11.1 The Cimarron Trustee may, at any time, seek the approval of the United States, NRC (with respect to the Cimarron License), and the State of Oklahoma for the sale or lease or other disposition of all or part of the Cimarron Site. Subject to the approval of NRC and the State of Oklahoma, the Cimarron Trustee may propose a sale, lease, or disposition of the Cimarron Site that includes funding from, or the retention of some portion of liability by, the respective Cimarron Trust Environmental Cost Account and/or the Cimarron Trust Administrative Account, provided that the net effect of any proposed sale, lease or disposition is to lessen the total financial obligations and liabilities as would otherwise be incurred in the absence of any such sale, lease, or disposition. In the event of any approved sale or lease or other disposition under this Paragraph, any net proceeds from the sale or lease or other disposition shall be paid to the Cimarron Trust Environmental Cost Accounts for the Cimarron Site and/or the Cimarron Trust Administrative Account in a proportion approved by NRC and the State of Oklahoma in writing.
2.11.2 The parties agree that the rule against perpetuities does not apply to the Cimarron Trust, but to the extent that any rule against perpetuities or a rule governing or limiting vesting, accumulations, the suspension of alienation, or the like shall be deemed applicable, the Cimarron Trust shall automatically terminate on the date 90 days after the date on which 21 years less 91 days pass after the death of the last survivor of all of the descendants of the late Xxxxxx X. Xxxxxxx, Xx., father of the late President Xxxx X. Xxxxxxx, living on the date hereof, and provided further that if the Cimarron Trust owns real property located in any jurisdiction that sets a maximum duration for interests in real property located in such jurisdiction held in trust under a rule against perpetuities or a rule governing or limiting vesting, accumulations, the suspension of alienation, or the like, that for the Cimarron Trust is shorter than the date 90 days after the date on which 21 years less 91 days pass after the death of the last survivor of all of the descendants of the late Xxxxxx X. Xxxxxxx, Xx., father of the late President Xxxx X. Xxxxxxx, living on the date hereof, the Cimarron Trust shall automatically terminate as to such Property upon the expiration of the maximum period authorized pursuant to the laws of such jurisdiction. If the Cimarron ...
Property Disposition. Any sale or other disposition of Secured Property or REO shall be carried out by the Investor at such price and upon such terms and conditions as the Investor shall determine. The Investor shall be responsible for issuance of any foreclosure bidding instructions. Any final proceeds from the sale or other disposition of the Secured Property or REO shall be deposited in an account designated by Owner and distributed to the Investor, net of any funds owed under this Agreement, pursuant to the terms outlined in Paragraph 4 of this Agreement. The Investor shall be responsible for the expenses of such sale or other disposition and all Standard Expenses, including amounts owed to third parties as a result of a Foreclosure Sale, or as otherwise owed under applicable law.
Property Disposition. A limited liability company may sell, convey, mortgage, create a security interest in, otherwise encumber, assign, lease, exchange, transfer, or otherwise dispose of all or any part of its real or personal property, or any interest in this property, wherever situated.
Property Disposition. The Parties do not anticipate having to dispose of any property upon partial or complete termination of this Agreement. However, to the extent that such disposition is necessary, property shall be returned to its original owner.
Property Disposition. Real or personal property purchased in whole or in part with CDBG funds shall not be disposed through sale, use, or location without the written permission of the City and/or HUD as applicable. The proceeds from the disposition of real property will be considered Program Income and subject to 24 CFR §570.504(c).
Property Disposition. It is not expected that the Non-profit subgrantee will make purchases of property or services related to the implementation of this Agreement. Should such purchases be made, they will remain the property of the Non-profit subgrantee until such time as they are no longer needed. At such time, the Non-profit subgrantee will inquire of the City as to the appropriate disposition of such property.
Property Disposition. 2.11.1 The Environmental Trustee may, at any time, seek the approval of the Lead and Non-Lead Agencies for the sale or lease or other disposition of all or part of the Environmental Trust Assets (including but not limited to real property constituting the DPH Sites and personal property associated therewith). Subject to the approval of the Lead and Non-Lead Agency for a particular DPH Site, the Environmental Trustee may propose a sale, lease, or disposition of that DPH Site that includes funding from the respective Environmental Trust Environmental Cost Account and/or the Environmental Trust Administrative Account, provided that the net effect of any proposed sale, lease or disposition is to lessen the total financial obligations and liabilities as would otherwise be incurred in the absence of any such sale, lease, or disposition.
2.11.2 In the event of any approved sale or lease or other disposition of Environmental Trust Assets, the proceeds will be paid as follows:
(a) From the gross proceeds, the Environmental Trustee shall return to the Environmental Trust Administrative Account any amount expended from the Environmental Trust Administrative Account in connection with the sale, lease or other disposition.
(b) The remaining proceeds shall be paid to the Environmental Cost Account for the DPH Site in connection with Environmental Trust Assets that were sold.
2.11.3 The parties agree that the rule against perpetuities does not apply to the Environmental Response Trust, but to the extent that any rule against perpetuities or a rule governing or limiting vesting, accumulations, the suspension of alienation, or the like shall be deemed applicable, the Environmental Response Trust shall automatically terminate on the date 90 days after the date on which 21 years less 91 days pass after the death of the last survivor of all of the descendants of the late Xxxxxx X. Xxxxxxx, Xx., father of the late President Xxxx X. Xxxxxxx, living on the date hereof, and provided further that if the Environmental Response Trust owns real property located in any jurisdiction that sets a maximum duration for interests in real property located in such jurisdiction held in trust under a rule against perpetuities or a rule governing or limiting vesting, accumulations, the suspension of alienation, or the like, that for the Environmental Response Trust is shorter than the date 90 days after the date on which 21 years less 91 days pass after the death of the last survivor of all of t...
Property Disposition. 2.13.1 Subject to Section 2.12.2 of this Agreement, the United States, the State in which a Transferred Real Property is located, or a governmental unit that is a designee thereof, may at any time propose in writing to take ownership of any of the Transferred Real Properties or any part thereof. Any such proposed transfer and the terms thereof are subject to approval in writing by USEPA, DOI and DOC/NOAA as applicable, and the State in which the Transferred Real Property is located. The Environmental Custodial Trust Trustee may at any time seek the approval of USEPA, DOI and DOC/NOAA as applicable, and the applicable State for the sale or lease or other disposition of all or part of a Transferred Real Property. In the event of any approved sale or lease or other disposition under this Paragraph, any net proceeds from the sale or lease or other disposition shall be paid to the Custodial Trust Environmental Cost Account for that Transferred Real Property (subject to the provisions of Sections 2.7.3 and 2.7.4) in a proportion approved by USEPA, DOI and DOC/NOAA as applicable, and the State in writing. With the prior written approval of USEPA, DOI and DOC/NOAA as applicable, and the applicable State, the Environmental Custodial Trust may, after the sale or lease of all or part of a Transferred Real Property to a third party pursuant to this Section, continue to conduct, manage, and/or fund Environmental Actions, and pay oversight costs, with respect to that property.
2.13.2 Any actions by the Environmental Custodial Trust Trustee on property administered by any federal agency can only be taken after the written concurrence of the federal agency.
Property Disposition. 2.15.1 The United States, the State in which a Property is located (or the Tribe in the case of the Massena Property), or a governmental unit that is a designee thereof, may at any time propose in writing to take ownership of any of the Properties or any part thereof. Any such proposed transfer and the terms thereof are subject to the notice to and consultation with the United States, the State or Tribe in whose jurisdiction the Property is located, and the affected communities. Any Property owned by the Environmental Response Trust may be sold or transferred by the Administrative Trustee after the Administrative Trustee provides notice to and consults with the United States and the applicable State or Tribe, and affected communities where the Property is located. Any sale or other disposition of a Property owned by the Environmental Response Trust shall be consistent with the provisions of Paragraphs 64 through 67 and 69 through 75 of the Settlement Agreement.
