Title to the Lands and Event Centre Sample Clauses

Title to the Lands and Event Centre. The Manager acknowledges and agrees that, other than the leasehold estate granted to the Manager pursuant to Section 5.1 hereof, the Manager shall not acquire any estate, right, title or ownership interest in the Lands or the Event Centre pursuant to this Agreement or otherwise. Notwithstanding any provision herein to the contrary, all fee simple interest in and freehold title to the Lands, or any part thereof, and the Event Centre, shall at all times remain unencumbered by any interest claimed by or through the Manager, except as hereafter stated. The Manager shall not register this Agreement in whole or in part against title to the Lands, but may register a caveat in respect of this Agreement, subject to the remaining provisions of this Section 2.5. Any caveat in respect of this Agreement shall be in form and content acceptable to The City, acting reasonably, and shall disclose only: (i) the date of the Agreement; (ii) the parties; (iii) the premises demised to the Manager; (iv) the Term; and (v) any rights of renewal or extension under this Agreement. The Manager shall deliver a copy of the proposed caveat to The City for its review and approval no less than seven (7) Business Days prior to the date on which the Manager intends to submit such caveat for registration against the Lands, and if The City’s approval has not been obtained during such seven (7) Business Day period, the Manager shall not proceed with such registration until such approval has been obtained. Such caveat shall specifically not disclose the Annual Rent Amount, the City’s Share of the Facility Fee or any other financial details or arrangements between the parties contained in this Agreement. The Manager agrees to discharge, at its sole cost and expense, such registration within a reasonable period of time from expiry of the Term or sooner termination of the Agreement, provided that if such registration is not discharged within thirty (30 days following the expiration of the Term or sooner termination of this Agreement, The City may take all such actions as may be required to discharge same, the costs of which shall be for the account of the Manager.
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