Common use of Transfer, Encumbrance and Disposition of Property Clause in Contracts

Transfer, Encumbrance and Disposition of Property. The Land Trust shall not transfer, sell, dispose of or encumber any Property, portion of the Property or interest in Property secured with funding under this Agreement, without the prior written approval of ECCC and NCC. In addition, any proposed transfer, sale or disposition of the Land Trust interest in Property shall only be considered for approval if: (i) it is to made in favour of a Receiving Entity as defined in this Agreement, and (ii) the Receiving Entity signs an assumption agreement satisfactory to NCC in which the Receiving Entity agrees to assume the obligations of the Land Trust and be bound by the terms of this Agreement. (a) The Land Trust shall seek prior written approval from NCC before the transfer, sale, disposal or encumbrance of the Property, or any part of the Property, secured with the support of Project Funds from NCC. (b) Any approval for the sale of Property, or any part of Property, shall require that the Land Trust provide an attestation that the price obtained is at, or above fair market value. Only under exceptional circumstances and with prior written approval of NCC and ECCC may Property secured with the support of Project Funds from NCC be sold below fair market value. (c) In the event that Property, or any part of the Property secured with the support of Project Funds from NCC is transferred, sold, disposed or encumbered in a manner inconsistent with the terms and conditions of this Agreement, the Land Trust shall repay to NCC the greater of: I. the full amount of the Project Funds originally transferred to the Land Trust for the securement of Property, or II. a portion of the proceeds resulting from the transfer, sale, disposition or encumbrance of the Property in the same proportion as the Project Funds to the Property fair market value at the time acquisition or completion.

Transfer, Encumbrance and Disposition of Property. The Land Trust shall not transfer, sell, dispose of or encumber any Property, portion of the Property or interest in Property secured with funding under this Agreement, without the prior written approval of ECCC and NCC. In addition, any proposed transfer, sale or disposition of the Land Trust interest in Property shall only be considered for approval if: (i) it is to made in favour of a Receiving Entity as defined in this Agreement, and (ii) the Receiving Entity signs an assumption agreement satisfactory to NCC in which the Receiving Entity agrees to assume the obligations of the Land Trust and be bound by the terms of this Agreement. (a) . The Land Trust shall seek prior written approval from NCC before the transfer, sale, disposal or encumbrance of the Property, or any part of the Property, secured with the support of Project Funds from NCC. (b) . Any approval for the sale of Property, or any part of Property, shall require that the Land Trust provide an attestation that the price obtained is at, or above fair market value. Only under exceptional circumstances and with prior written approval of NCC and ECCC may Property secured with the support of Project Funds from NCC be sold below fair market value. (c) . In the event that Property, or any part of the Property secured with the support of Project Funds from NCC is transferred, sold, disposed or encumbered in a manner inconsistent with the terms and conditions of this Agreement, the Land Trust shall repay to NCC the greater of: I. : the full amount of the Project Funds originally transferred to the Land Trust for the securement of Property, or II. or a portion of the proceeds resulting from the transfer, sale, disposition or encumbrance of the Property in the same proportion as the Project Funds to the Property fair market value at the time acquisition or completion. Any breach of the Land Trust’s obligations set out in this section shall be deemed a default and material breach of the Agreement.

Transfer, Encumbrance and Disposition of Property. The Land Trust shall not transfer, sell, dispose of or encumber any Property, portion of the Property or interest in Property secured with funding under this Agreement, without the prior written approval of ECCC and NCCWHC. In addition, any proposed transfer, sale or disposition of the Land Trust interest in Property shall only be considered for approval if: (i) it is to made in favour of a Receiving Entity as defined in this Agreement, and (ii) the Receiving Entity signs an assumption agreement satisfactory to NCC WHC in which the Receiving Entity agrees to assume the obligations of the Land Trust and be bound by the terms of this Agreement. (a) The Land Trust shall seek prior written approval from NCC WHC before the transfer, sale, disposal or encumbrance of the Property, or any part of the Property, secured with the support of Project Funds from NCCWHC. (b) Any approval for the sale of Property, or any part of Property, shall require that the Land Trust provide an attestation that the price obtained is at, or above fair market value. Only under exceptional circumstances and with prior written approval of NCC WHC and ECCC may Property secured with the support of Project Funds from NCC WHC be sold below fair market value. (c) In the event that Property, or any part of the Property secured with the support of Project Funds from NCC WHC is transferred, sold, disposed or encumbered in a manner inconsistent with the terms and conditions of this Agreement, the Land Trust shall repay to NCC WHC the greater of: I. the full amount of the Project Funds originally transferred to the Land Trust for the securement of Property, or II. a portion of the proceeds resulting from the transfer, sale, disposition or encumbrance of the Property in the same proportion as the Project Funds to the Property fair market value at the time acquisition or completion.

Transfer, Encumbrance and Disposition of Property. The Land Trust shall not transfer, sell, dispose of or encumber any Property, portion of the Property or interest in Property secured with funding under this Agreement, without the prior written approval of ECCC and NCCWHC. In addition, any proposed transfer, sale or disposition of the Land Trust interest in Property shall only be considered for approval if: : (i) it is to made in favour of a Receiving Entity as defined in this Agreement, and (ii) the Receiving Entity signs an assumption agreement satisfactory to NCC WHC in which the Receiving Entity agrees to assume the obligations of the Land Trust and be bound by the terms of this Agreement. (a) The Land Trust shall seek prior written approval from NCC WHC before the transfer, sale, disposal or encumbrance of the Property, or any part of the Property, secured with the support of Project Funds from NCCWHC. (b) Any approval for the sale of Property, or any part of Property, shall require that the Land Trust provide an attestation that the price obtained is at, or above fair market value. Only under exceptional circumstances and with prior written approval of NCC WHC and ECCC may Property secured with the support of Project Funds from NCC WHC be sold below fair market value. (c) In the event that Property, or any part of the Property secured with the support of Project Funds from NCC WHC is transferred, sold, disposed or encumbered in a manner inconsistent with the terms and conditions of this Agreement, the Land Trust shall repay to NCC WHC the greater of: I. the full amount of the Project Funds originally transferred to the Land Trust for the securement of Property, or II. a portion of the proceeds resulting from the transfer, sale, disposition or encumbrance of the Property in the same proportion as the Project Funds to the Property fair market value at the time acquisition or completion.

Transfer, Encumbrance and Disposition of Property. The Land Trust shall not transfer, sell, dispose of or encumber any Property, portion of the Property or interest in Property secured with funding under this Agreement, without the prior written approval of ECCC and NCCWHC. In addition, any proposed transfer, sale or disposition of the Land Trust interest in Property shall only be considered for approval if: : (i) it is to made in favour of a Receiving Entity as defined in this Agreement, and (ii) the Receiving Entity signs an assumption agreement satisfactory to NCC WHC in which the Receiving Entity agrees to assume the obligations of the Land Trust and be bound by the terms of this Agreement. (a) The Land Trust shall seek prior written approval from NCC WHC before the transfer, sale, disposal or encumbrance of the Property, or any part of the Property, secured with the support of Project Funds from NCCWHC. (b) Any approval for the sale of Property, or any part of Property, shall require that the Land Trust provide an attestation that the price obtained is at, or above fair market value. Only under exceptional circumstances and with prior written approval of NCC WHC and ECCC may Property secured with the support of Project Funds from NCC WHC be sold below fair market value. (c) In the event that Property, or any part of the Property secured with the support of Project Funds from NCC WHC is transferred, sold, disposed or encumbered in a manner inconsistent with the terms and conditions of this Agreement, the Land theLand Trust shall repay to NCC WHC the greater of: I. the full amount of the Project Funds originally transferred to the Land Trust for the securement of Property, or II. a portion of the proceeds resulting from the transfer, sale, disposition or encumbrance of the Property in the same proportion as the Project Funds to the Property fair market value at the time acquisition or completion.

Transfer, Encumbrance and Disposition of Property. The Land Trust shall not transfer, sell, dispose of or encumber any Property, portion of the Property or interest in Property secured with funding under this AgreementProperty, without the prior written approval of ECCC and NCCWHC. In addition, any proposed transfer, sale or disposition of the Land Trust interest in Property shall only be considered for approval if: (i) it is to made in favour of a Receiving Entity as defined in this Agreement, and (ii) the Receiving Entity signs an assumption agreement satisfactory to NCC WHC in which the Receiving Entity agrees to assume the obligations of the Land Trust and be bound by the terms of this Agreement. (a) . The Land Trust shall seek prior written approval from NCC WHC before the transfer, sale, disposal or encumbrance of the Property. If any amount of land value has been used towards match, or any part of the Property, secured with the support of Project Funds from NCC. (b) Any approval for the sale of Property, or any part of Property, shall require that the Land Trust provide an attestation that the price obtained is at, or above fair market value. Only under exceptional circumstances and with prior written approval of NCC WHC and ECCC may Property secured with the support of Project Funds from NCC WHC be sold below fair market value. (c) . In the event that Property, or any part of the Property secured with the support of Project Funds from NCC is transferred, sold, disposed or encumbered in a manner inconsistent with the terms and conditions of this Agreement, the Land Trust shall repay to NCC WHC the greater of: I. : the full amount of the Project Funds originally transferred to the Land Trust for the securement of PropertyTrust, or II. or a portion of the proceeds resulting from the transfer, sale, disposition or encumbrance of the Property in the same proportion as the Project Funds to the Property fair market value at the time acquisition or completion. Any breach of the Land Trust’s obligations set out in this section shall be deemed a default and material breach of the Agreement.

Transfer, Encumbrance and Disposition of Property. The Land Trust shall not transfer, sell, dispose of or encumber any Property, portion of the Property or interest in Property secured with funding under this Agreement, without the prior written approval of ECCC and NCCWHC. In addition, any proposed transfer, sale or disposition of the Land Trust interest in Property shall only be considered for approval if: (i) it is to made in favour of a Receiving Entity as defined in this Agreement, and (ii) the Receiving Entity signs an assumption agreement satisfactory to NCC WHC in which the Receiving Entity agrees to assume the obligations of the Land Trust and be bound by the terms of this Agreement. (a) The Land Trust shall seek prior written approval from NCC WHC before the transfer, sale, disposal or encumbrance of the Property, or any part of the Property, secured with the support of Project Funds from NCCWHC. (b) Any approval for the sale of Property, or any part of Property, shall require that the Land Trust provide an attestation that the price obtained is at, or above fair market value. Only under exceptional circumstances and with prior written approval of NCC WHC and ECCC may Property secured with the support of Project Funds from NCC WHC be sold below fair market value. (c) In the event that Property, or any part of the Property secured with the support of Project Funds from NCC is WHCis transferred, sold, disposed or encumbered in a manner inconsistent with the terms and conditions of this Agreement, the Land Trust shall repay to NCC WHC the greater of: I. the full amount of the Project Funds originally transferred to the Land Trust for the securement of Property, or II. a portion of the proceeds resulting from the transfer, sale, disposition or encumbrance of the Property in the same proportion as the Project Funds to the Property fair market value at the time acquisition or completion.