Right of Reconveyance Sample Clauses

Right of Reconveyance. In lieu of exercising the Power of Termination as a result of a default under Section 17(a) or 17(b), City may alternatively elect to require Developer to re-convey the Mixed-Use Condominium Units to a City Body and relinquish its estate in and to the Garage and the Garage Condominium Unit in accordance with the terms and conditions of this Subsection, in which case City and Developer shall close the reconveyance within fifteen (15) days after such election. At the closing of such reconveyance Developer shall execute and deliver closing documents to City (or its nominee) that are substantially the same in form and substance as those received by Developer in connection with its acquisition of the Mixed-Use Condominium Units (including, without limitation, that the deed shall be subject only to: (A) the exceptions to which Developer's title or leasehold estate were subject when it took title or its leasehold interest; (B) any easements, declarations, or other agreements contemplated by this Agreement to be executed, if such documents have been executed prior to the date of such closing; (C) current Real Estate Taxes and Assessments not delinquent; (D) and utility easements granted by Developer; and/or (E) such other exceptions as reasonably are acceptable to City). Developer shall be responsible for all real estate taxes and assessments, assessed, due and/or payable prior to the reconveyance and for all costs of reconveyance and to satisfy any liens and encumbrances on its leasehold estate in and to the Garage Condominium Unit and the Garage and on the Mixed-Use Condominium Units, including, without limitation the Project Loan. Developer shall also execute and deliver to City any documents necessary or requested to formally terminate the Garage Lease. No delay or failure by City Bodies to enforce any of the covenants, conditions, reservations and rights contained in this Section 17(c), or to invoke any available remedy with respect to an Event of Default by Developer shall under any circumstances be deemed or held to be a waiver by City Bodies of the right to do so thereafter, or an estoppel of City Bodies to assert any right available to it upon the occurrence, recurrence of continuation of any violation or violations hereunder. No consent from, or notice to, Project Lender or any cure right in favor of Project Lender shall be required in connection with the exercise of such right. The foregoing terms shall be incorporated into the Garage Lease, the Multi-P...
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Right of Reconveyance. 13 6.1 Right of Cogen to Rescind............................................ 13
Sample 1
Right of Reconveyance. In lieu of exercising the Power of Termination as a result of a default under Section 14(a) or 14(b), Town may alternatively elect to require Developer to convey the Office Building Parcel and the Multi-Family Parcel to Town in accordance with the terms and conditions of this Subsection, in which case Town and Developer shall close the reconveyance within fifteen (15) days after such election. At the closing of such reconveyance Developer shall execute and deliver closing documents to Town that are substantially the same in form and substance as those received by Developer in connection with its acquisition of the Office Building Parcel and the Multi-Family Parcel (including, without limitation, that the deed shall be subject only to: (A) the exceptions to which Developer's title or leasehold estate were subject when it took title or its leasehold interest; (B) any easements, declarations, or other agreements contemplated by this Agreement to be executed, if such documents have been executed prior to the date of such closing; (C) current Real Estate Taxes and Assessments not delinquent; (D) and utility easements granted by Developer; and/or (E) such other exceptions as reasonably are acceptable to Town). Developer shall be responsible for all real estate taxes and assessments, assessed, due or payable prior to the reconveyance. Developer shall also execute and deliver to Town any documents necessary or requested to formally terminate the Garage Lease and Declaration.
Sample 1

Related to Right of Reconveyance

  • Right of Recovery KFHPWA has the right to recover excess payment whenever it has paid allowable expenses in excess of the maximum amount of payment necessary to satisfy the intent of this provision. KFHPWA may recover excess payment from any person to whom or for whom payment was made or any other issuers or plans. Questions about Coordination of Benefits? Contact the State Insurance Department.

  • Right of Re-Entry Upon the occurrence of a Default, Landlord may elect to terminate this Lease or, without terminating this Lease, terminate Tenant's right to possession of the Premises. Upon any such termination, Tenant shall immediately surrender and vacate the Premises and deliver possession thereof to Landlord. Tenant grants to Landlord the right to enter and repossess the Premises and to expel Tenant and any others who may be occupying the Premises and to remove any and all property therefrom, without being deemed in any manner guilty of trespass and without relinquishing Landlord's rights to Rent or any other right given to Landlord hereunder or by operation of law.

  • Assignment of Right of First Refusal The Company shall have the right to assign the Right of First Refusal at any time, whether or not there has been an attempted transfer, to one or more persons as may be selected by the Company.

  • Right of Representation An employee covered by this Agreement shall, under this Article, have the right to have an Association representative present at any time, subject to his requesting such representation.

  • Grant of Right of First Refusal Except as provided in Section 12.7 below, in the event the Optionee, the Optionee's legal representative, or other holder of shares acquired upon exercise of the Option proposes to sell, exchange, transfer, pledge, or otherwise dispose of any Vested Shares (the "TRANSFER SHARES") to any person or entity, including, without limitation, any shareholder of the Participating Company Group, the Company shall have the right to repurchase the Transfer Shares under the terms and subject to the conditions set forth in this Section 12 (the "RIGHT OF FIRST REFUSAL").

  • Right of First Refusal and Co-Sale Agreement Each Purchaser and the other stockholders of the Company named as parties thereto shall have executed and delivered the Right of First Refusal and Co-Sale Agreement.

  • Right of Repurchase To the extent provided in the Company's bylaws as amended from time to time, the Company shall have the right to repurchase all or any part of the shares of Common Stock you acquire pursuant to the exercise of your option.

  • First Right of Refusal If any Partner shall enter into an agreement to sell their ownership interest in the Partnership with an individual or entity that is not a current Partner, the following parties must be given a first right of refusal before such a transaction can take place:

  • Right of Co-Sale To the extent the Investors do not exercise their respective Rights of First Refusal (the “Co-Sale Right Holders”) as to the Offered Shares proposed to be sold by the Transferor to the third party transferee identified in the Transfer Notice in accordance with Section 4.4, such Co-Sale Right Holder shall have the right (but no obligation) to participate in, and the Transferor shall have the obligation to procure the third party transferee to accept, the transfer of any Offered Shares to the extent that such Co-Sale Right Holder’s Pro Rata Co-Sale Share (defined as below) will be transferred at the same price and subject to the same terms and conditions as specified in the Transfer Notice (the “Right of Co-Sale”). For the purpose of this Section 4.5, a Co-Sale Right Holder’s “Pro Rata Co-Sale Share” shall mean that number of Ordinary Shares (calculated on an as-converted basis) which equals the number of the Offered Shares specified in the Transfer Notice multiplied by a fraction equal to (i) the total number of Ordinary Shares (calculated on an as-converted basis) then held by such Co-Sale Right Holder at the time of the transfer, divided by (ii) the total number of Ordinary Shares (calculated on an as-converted basis) held by the Co-Sale Right Holders that have elected to exercise the Right of Co-Sale plus the total number of Ordinary Shares (calculated on an as-converted basis) then held by the Transferor. The Co-Sale Right Holder shall deliver, within the Option Period, a written notice (the “Co-Sale Notice”) to the Transferor, stating (i) its decision to exercise the Right of Co-Sale as specified in the Co-Sale Notice, and (ii) the number of Shares that such Co-Sale Right Holder elects to transfer, in order to effect its Right of Co-Sale. If the Co-Sale Right Holder sends out the Co-Sale Notice within the Option Period, and provided, however, that the Co-Sale Right Holder fails to effect its Right of Co-Sale due to failure to obtain the consent of the third party transferee or the approval, consent or exemption (if necessary) from the Governmental Authority, notwithstanding anything to the contrary in this Agreement, the Transferor shall not effect any transfer of the Offered Share of the Company to the third party transferee without the prior written consent of the Co-Sale Right Holders, unless the Transferor purchases the number of the Shares that such Co-Sale Right Holder elects to transfer at the same price and subject to the same terms and conditions as specified in the Transfer Notice.

  • Right of Refusal Vendor has the right not to sell to a TIPS Member under the awarded agreement at Vendor’s discretion unless otherwise required by law.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!