Reserve property Clause Samples
The 'Reserve property' clause establishes the right of a party, typically the seller or landlord, to retain ownership or control over certain property even after a transaction or agreement is executed. In practice, this clause may specify that specific assets, equipment, or fixtures are not included in the sale or lease and will remain with the original owner, regardless of the broader transfer of other property. Its core function is to clearly delineate which items are excluded from the transaction, thereby preventing disputes and ensuring both parties understand the exact scope of what is being transferred or retained.
Reserve property. The term ‘‘reserve property’’ means any property with respect to which a reserve is es- tablished under subsection (a)(1).
Reserve property. Subject to the terms and conditions set forth herein, at the Closing, Buyer agrees to purchase from the Reserve Property Sellers, and the Reserve Property Sellers agree to sell, convey, transfer, assign and deliver, or cause to be sold, conveyed, transferred, assigned and delivered, to Buyer at the Closing, free and clear of all Liens, other than Permitted Liens, all of the Reserve Property Sellers’ right, title and interest in, to and under Reserve Property.