Right of Reverter. (a) In the event that, following Close of Escrow, there is an Event of Default and such Event of Default occurs prior to issuance of a Certificate of Completion for the Improvements, then the County has the right to reenter and take possession of the Property and all improvements thereon and to revest in the County the estate of Developer in the Property. Xxxxxxxxx agrees to execute such documents as reasonably necessary to cause Xxxxxxxxx's interest in the Property to revert and revest in the County.
Right of Reverter. The Agency shall have the additional right, at its option, to reenter and take, possession of the Site with all improvements thereon and revest in the Agency the estate theretofore conveyed to the Redeveloper, if after conveyance of title to the Site and prior to recordation of the Certificate of Completion, the Redeveloper shall:
Right of Reverter. This Assignment Agreement with Contingent Right of Reverter (hereafter the “Agreement”) is made effective as of August 10, 2002 (the “Effective Date”) by and between Alchemy Ventures, Ltd., a British Columbia, Canada corporation (“ALY”), and Idaho Industrial Minerals, LLC., and Idaho limited liability company (“IIM”), Northwest Kaolin, Inc., an Idaho corporation (“NWK”). (Collectively, referred to hereinafter as the “Parties.”)
Right of Reverter. (a) In the event that, following the Close of Escrow, this Agreement is terminated under Section 8.6 and such termination occurs prior to the Commencement of Construction for the Development, then the City has the right to reenter and take possession of the Property and all Development thereon and to revest in the City the estate of the Developer in the Property.
Right of Reverter. (a) In the event that, following the Close of Escrow, this Agreement is terminated pursuant to Section 7.4 and such termination occurs prior to issuance of a Certificate of Completion for the Improvements, then the County shall have the right to reenter and take possession of the Property and all improvements thereon and to revest in the County the estate of the Developer in the Property.
Right of Reverter. Xxxxxxxx’s agreement to enter into this Lease is specifically conditioned upon Tenant’s timely completion of renovations and improvements necessary to open Premises for business to the general public, as such this Agreement and any leasehold deed shall be conditioned as follows. If Tenant has not completed initial construction of the improvements sufficient to open Premises for business to the general public within twelve (12) months of the Effective Date plus any applicable extension of time granted by the terms of this Lease and shall fail to cure within 60 days following receipt of written notice of such failure, this Lease shall terminate and all right, title and interest of Tenant in the Lease, Premises and all Improvements and other property located on Premises shall immediately revert to Landlord with no recourse or defense available to Tenant immediately upon receipt of written notice from Landlord to Tenant of Xxxxxxxx’s intent to re-enter and take possession of the Premises (the “Reverter Notice”). Notwithstanding anything else contained hereunto the contrary, if Xxxxxx has applied for final approval to allow the Premises to be opened for business to the general public, but such approval has not been issued due to no fault of Tenant, or its agents or contractors, then Tenant shall not be deemed to be in default and no such notice of default shall be valid. Coincident with Landlord’s giving such a notice of breach or a Reverter Notice to Tenant, Landlord shall furnish a copy of such notice of breach or Reverter Notice to any mortgagees of record holding an interest in Premises, the rights and obligations of any such mortgagee shall be determined at that time in accordance with Section 30.
Right of Reverter. The deed for this parcel contracted for within this Agreement for the Sale of Real Estate shall be a fee simple determinable with a Right of Reverter to the City of Gladstone. The terms of the Right of Reverter are that the Grantee, Choice Propane, shall substantially complete improvements described the attached site plan. These improvements shall be considered in a site plan to be submitted to the City of Gladstone Planning Commission which site plan shall be submitted within 30 days from the date of this contract. The site plan improvements to the existing property must be completed within 18 months of the date of the deed contemplated by this Agreement for the Sale of Real Estate. Failure to substantially complete the improvements (by 80%) shall automatically revert the property to the City of Gladstone without consideration.
Right of Reverter. (a) In the event that, following Close of Escrow on Phase 1 or Phase 2, this Agreement is terminated pursuant to Section 12.05 and such termination occurs prior to issuance of a Certificate of Completion for any Phase of the Project the Agency shall have the right subject to the provisions of Article 13 below, to re-enter and take possession of those portions of the Development Site for which a Certificate of Completion has not been issued and all improvements thereon and to revest in the Agency the estate of the Developers in the Development Site or such portion thereof, provided, however, if the Agency terminates this Agreement with respect to only some of the Developers and this Agreement remains in effect with respect to other Developers, the Agency can only exercise the right of reverter granted hereto with respect to property conveyed to the Developers subject to termination of this Agreement.
Right of Reverter. (a) In the event that, following conveyance of the Affordable Development Parcel, this Agreement is terminated pursuant to Section 14.6 and such termination occurs prior to issuance of a Certificate of Completion for the Affordable Development Improvements, then the Commission has the right to reenter and take possession of the Affordable Development Parcel and all improvements thereon and to revest in the Commission the estate of the Affordable Developer in the Affordable Development Parcel.
Right of Reverter. 26 Section 7.6 Option to Repurchase, Reenter and Repossess. 27
