TITLE TO PROJECT PROPERTY Sample Clauses
The "Title to Project Property" clause establishes which party holds legal ownership of property, materials, or equipment associated with a project. Typically, this clause specifies when and how title transfers from one party to another, such as from a contractor to a client upon delivery, installation, or payment. For example, it may state that ownership of construction materials passes to the owner once they are delivered to the project site. The core function of this clause is to clearly allocate ownership rights, thereby reducing disputes over property and ensuring that both parties understand when and how title to project assets changes hands.
TITLE TO PROJECT PROPERTY. Title to all property purchased or constructed pursuant to this AGREEMENT shall rest with the AGENCY. However, the federal government retains a financial interest in any property purchased under this AGREEMENT which equals the original federal participation percentage times the current value.
TITLE TO PROJECT PROPERTY. The Borrower shall not take title to any Project Property, in foreclosure or otherwise, except as contemplated by this Agreement.
TITLE TO PROJECT PROPERTY. With respect to the title to PROJECT PROPERTY acquired as a result of this AGREEMENT, the RECIPIENT agrees as follows:
A. Title to PROJECT PROPERTY that is personal or mixed in nature shall be held in the RECIPIENT’s name subject to the restrictions of use and disposition as set forth herein and in accordance with Sections IV, V, and VIII of this AGREEMENT. If applicable, the COMMISSION shall be listed as first lien-holder on and maintain all original titles to PROJECT PROPERTY and shall be furnished one set of keys. If this AGREEMENT is terminated for any reason, title to such property shall become vested in the COMMISSION as first lien-holder and the COMMISSION shall have the right to repossess the same without notice.
B. The RECIPIENT shall grant to the COMMISSION a security interest in the PROJECT PROPERTY through the execution of a security agreement in a form acceptable to the COMMISSION and by the filing of financing statements necessary to perfect that security interest. A copy of the Security Agreement form, acceptable to the COMMISSION, is available upon request from the designated COMMISSION contact person shown at Section XXI below.
C. When real property is acquired and/or developed under the terms of this AGREEMENT, non-governmental RECIPIENTS agree to grant to the COMMISSION a security interest in the real property to secure RECIPIENT’s performance of the terms of this AGREEMENT and shall perfect that security interest by executing a deed of trust in a form acceptable to the COMMISSION and by filing that deed of trust in the land records of the county where the real property is located. At least ten (10) days prior to the transfer of funds under the terms of this AGREEMENT for the acquisition and/or development of real property, the RECIPIENT shall provide to the COMMISSION a title certificate from a Mississippi licensed attorney approved by the COMMISSION showing that there are no encumbrances on the real property to be acquired and/or developed, and the RECIPIENT shall have the title certificate updated immediately prior to the transfer of funds for the acquisition and/or development of the subject property. A copy of the Deed of Trust form, acceptable to the COMMISSION, is available upon request to the designated COMMISSION contact person shown at Section XXI below.
D. In addition, when real property is acquired and/or developed under the terms of this AGREEMENT, non-governmental RECIPIENTS shall convey to the COMMISSION the RECIPIENT’s ex...
TITLE TO PROJECT PROPERTY. Without limiting the generality of Sections 3.1(n) and 3.1(o):
(i) except as disclosed in Section 3.1(n)(i) and Schedule 1.1(nnnn) of the Disclosure Letter, all of the Project Property is leased, held or owned by the Company or another Solaris Group Entity, the Ecuador Collateral Agent or the Guarantee Trust, and no Person other than the Company or another Solaris Group Entity, the Ecuador Collateral Agent or the Guarantee Trust has any rights to operate or exploit the Project, other than for and on behalf of the Company and its Subsidiaries or in connection with the Offtake Agreements or another Permitted Encumbrance;
(ii) the Project Real Property constitutes all real property, mining or mineral rights, surface interests and ancillary rights necessary for the development, construction and mining operations of the Project, as currently operated and as contemplated to be developed and operated;
(iii) other than the Offtake Agreements, the Senior Credit Agreement or any other Permitted Encumbrance, none of the Project Real Property or any minerals produced therefrom are subject to an option, right of first refusal or right, title, interest, reservation, claim, rent, royalty, or payment; and
(iv) other than pursuant to the Offtake Agreements, the Senior Credit Agreement, Project Authorizations and Applicable Laws, there are no restrictions on the ability of the Company and its Subsidiaries to exploit the Project Real Property.
TITLE TO PROJECT PROPERTY. Owner warrants to Contractor that Contractor is not responsible to determine the project site location, property lines, third party easement rights, or other survey or title issues related to the worksite being provided by Owner. Warranty of title is that the property is owned by Owner. All portions of the subject property and rights related thereto are owned by Owner.
TITLE TO PROJECT PROPERTY. Owner warrants to Contractor and Contractor is not responsible to determine the project site location, property lines, third party easement rights, or other survey or title issues related to the worksite being provided by Owner. Warranty of title is that the property is owned by Owner. All portions of the subject property and rights related thereto are 5. OWNER REQUESTED CHANGE ORDERS TO PLANS AND SPECIFICATIONS: Owner may make reasonable changes to the scope of the work including changes to the plans and specifications and related drawings and documents from time to time during the construction of the project in accordance with this agreement. Any such change or modification shall only be made by written change order “signed by both parties”. Such change order shall become a part of this contract. Owner agrees to pay any increase in the cost of the project as a result of this change order.