Sale or Transfer of Property. In the event of a sale or transfer of the property, property tax prepayments are to stay on the property tax account and the responsibility for the adjustment shall be between the vendor and purchaser. It is the responsibility of the property owner to notify the Collector, in writing no less than fifteen (15) days, prior to the sale if they wish to withdraw from the property tax prepayment plan to ensure payments do not continue after thesale. Home Owner Grant: To claim the basic or additional grant, property owners must meet eligibility requirements and complete an application form each year. The application form is located on the front of the tax notice and can also be claimed online at xxx.xxxxxxxxx.xx. Homeowner Grant applications that are incomplete, unclaimed or late will result in a 10% penalty charge. Participation in the Property Tax Prepayment Plan is not a substitute for claiming thegrant. Participants in the Property Tax Prepayment Plan will be automatically renewed each year unless the Town of Ladysmith receives written notification, in a manner the Collector requires, from theapplicant.
Sale or Transfer of Property. Borrower, the Hotel Owners and TRS Leasing shall not transfer, lease, convey, encumber or grant any interest of any nature in any Collateral now owned or hereafter acquired, except for: (i) inventory sold or consumed in the ordinary course of business, (ii) obsolete or damaged equipment that is replaced with equipment of equal or greater value that is free from encumbrance, or (iii) purchase money liens incurred for the purchase of the personal property that is security for such purchase money lien, in an original amount not exceeding the sale price of the personal property. Borrower may request approval from Bank to obtain a release of any of the Hotels and substitute a new Hotel as Collateral as provided in Section 1.11 hereof. Bank agrees that it will not unreasonably withhold its approval of any such substitution.
Sale or Transfer of Property. In the event OWNER determines to affect the sale, exchange or transfer of the PROPERTY, OWNER shall notify BROKER immediately.
Sale or Transfer of Property. In the event Owner decides to sell, exchange or transfer the Property, Owner shall notify Broker immediately.
Sale or Transfer of Property. The Permittee shall notify potential successor owners of the Property of the Encroachment’s existence and the obligations under the Permit. At least sixty (60) days prior to the closing of any sale or transfer of the Property, the Permittee shall cause its successors, assigns and transferees to submit a written statement to the City evidencing the sale or transfer, agreeing to the terms and conditions of the Permit and providing updated contact information for purposes of notices under the Agreement.
Sale or Transfer of Property. In the event the Property Owner sells or transfers all of its interest in the Property, such Property Owner, as the transferring property owner, shall provide to the County a Declaration of Transfer of Inspection and Maintenance Responsibilities of the stormwater management system signed by said transferring property owner and the transferee and witnessed by a public notary to document that all inspections and maintenance, and related financial responsibilities have been transferred and communicated to such transferee. Upon such transfer or conveyance by the transferring property owner, all obligations of the transferring property owner hereunder shall automatically be transferred and assigned to and assumed by transferee and such transferee shall become the Property Owner under this Agreement.
Sale or Transfer of Property. The sale of the Property will not remove it from operation of this Agreement. Landlord agrees that if any Property listed above is sold or transferred, Landlord will notify Versant Power. Versant Power will continue to provide Service to such Property and xxxx Landlord, and Landlord agrees to pay Versant Power, until Landlord notifies Versant Power that the Property is no longer subject to this Agreement.
Sale or Transfer of Property. If Owner lists residence for sale, or legal action is imminent (i.e. Owner bankruptcy or property foreclosure) during the term of the contract, Manager retains authorization to terminate management services. Manager is entitled to remaining commission due under terms of contract, remaining amount based upon expectation of continued occupancy and receipt of nominal rent through remainder of term. Owner is required to provide Manager with minimum thirty (30) day notice of any anticipated change in circumstances. If Manager is informed of impending sale, foreclosure or bankruptcy, Manager may retain sufficient present and future funds received in trust, to ensure that any Tenant security deposits and/or other obligations are available for disbursement when required.
Sale or Transfer of Property. Landlord shall have the right to sell, assign or otherwise transfer, in whole or in part, its interest in the Leased Premises and the Property without Tenant’s consent.
Sale or Transfer of Property. JUNIOR LIENS. If all or any part of the Property, or any interest or estate thereon, is sold, further encumbered or otherwise transferred by Grantor (including without limitation by way of mortgage, deed of trust, or declaration of trust) without the Beneficiary's prior written consent, the Beneficiary at an option may declare the whole sum secured by this Deed of Trust with interest thereon to be immediately due and payable without regard to the date of maturity of the obligation to pay any such sum provided, however, that the Beneficiary may waive this right of acceleration and permit the assumption of the obligations secured hereby on such terms and conditions, specifically including, without limitation, an increase in the interest rate charged under the Note, and the payment of fees, as it may deem appropriate if the Grantor is a corporation with thirty five (35) or fewer shareholders, the aggregate transfer(s) of voting shares in the Grantor whereby persons or entities not owning on the date hereof, singly or in the aggregate, 50% or more of the voting shares of such Grantor, become the owner(s) singly or in the aggregate of 50% or more of such voting shares shall be deemed a sale of the Property of or the purposes of this Section: if the Grantor is a limited or general partnership, any change in general partnership interest(s) in the Grantor shall be deemed a sale of the Property for the purposes of this Section; provided, however, no change in general partnership interest(s) or transfer of voting shares occasioned by devise, descent or operation of law upon the death of a shareholder or general partner, as the case may be, shall constitute a sale of the Property for the purposes of this Section. The Grantor hereby covenants to give the Beneficiary notice by certified mail of any sale, further encumbrance or transfer of the Property, as contemplated by this Section, within ten (10) days after the occurrence of such sale, further encumbrance or transfer.
