Transfer of Facilities Clause Samples
The Transfer of Facilities clause outlines the terms and conditions under which ownership or control of physical assets, such as buildings, equipment, or infrastructure, is transferred from one party to another. Typically, this clause specifies the timing, procedures, and any required documentation for the transfer, and may address issues such as the condition of the facilities, warranties, or responsibilities for maintenance up to the transfer date. Its core practical function is to ensure a clear and orderly handover of facilities, minimizing disputes and clarifying each party’s obligations during the transition.
Transfer of Facilities. As soon as practicable after Closing, Seller will remove, at Seller’s sole cost and expense, the Excluded Assets and Excluded Liabilities that are located in the Premises, without damage or other interference to the Purchased Assets and Assumed Liabilities.
Transfer of Facilities. 1. Upon substantial completion of each Phase of the Water/Wastewater Facilities in a manner satisfactory to ILAWC and in compliance by Developer with the provisions of this Agreement for each such Phase of construction, Developer will transfer title to such completed Phase of construction of the Water/Wastewater Facilities to ILAWC. To transfer title, ▇▇▇▇▇▇▇▇▇ shall execute and deliver to ILAWC a written bill of sale describing the Water/Wastewater Facilities with reasonable specificity. In such bill of sale, Developer shall represent and warrant to ILAWC that (i) the Phase of Water/Wastewater Facilities that are being transferred have been properly constructed and completed in accordance with the plans and specifications therefor; (ii) the Phase of Water/Wastewater Facilities that are being transferred are free and clear of all liens and encumbrances of any nature; and (iii) the Phase of Water/Wastewater Facilities that are being transferred have been inspected and approved by all governmental authorities having authority over the construction and installation of potable water systems.
2. ILAWC may, if it so elects, accept title to the Water/Wastewater Facilities, subject to satisfactory completion by Developer of such items as ILAWC may reasonably designate (“Punch List Items”). ILAWC’s final acceptance of title (“Final Acceptance”) will be deemed to occur on the date when ILAWC confirms in writing: (i) its acceptance from Developer of title to the completed Phase of the Water/Wastewater Facilities; and (ii) that all Punch List Items related to the complete Phase of the Water/Wastewater Facilities are complete to the satisfaction of ILAWC.
3. Upon the transfer of title to all or any portion of the Water/Wastewater Facilities to ILAWC, Developer shall retain no right, title, or interest in such transferred Water/Wastewater Facilities. Prior to such transfer, all risk of loss shall be with Developer, and ILAWC shall have no right or interest in the Water/Wastewater Facilities.
4. Upon transfer of title to all or any portion of the Water/Wastewater Facilities by the Developer, all materials installed, facilities constructed and equipment provided by Developer in connection with the transferred Water/Wastewater Facilities and accepted by ILAWC shall become the sole property of ILAWC as installed, and full legal and equitable title thereto shall be vested in ILAWC, free and clear of any liens. At the time that title to all or any portion of the Water/Wastewa...
Transfer of Facilities. The County will transfer facilities in Sunset Beach to the City upon annexation including, but not limited to: streets, lights, traffic signals, signs, etc. A listing is included as Exhibit F.
Transfer of Facilities. WPL shall transfer its distribution facilities used to serve the Transfer Customers (the “Transfer Facilities”). The Transfer Facilities, along with a calculation of the sale price, are shown on Exhibit B. The sale price shall be calculated in accordance with Section 2(c) of the Master Agreement.
Transfer of Facilities. The DEVELOPER shall convey free and clear of all liens and encumbrances the Transmission Facilities to the TOWN together with any necessary easements or interests in real property such that the TOWN can appropriately utilize, operate and maintain said facilities.
Transfer of Facilities. The Contractor shall submit a general Transfer of facilities plan within 30 calendar days after contract award. As facilities, critical infrastructure or entire sites are transitioned to the responsibility of the GIRoA over the period of this contract, the transfer of the covered assets from the Contractor to the GIRoA shall follow the following guidelines:
Transfer of Facilities. The COMMUNITY shall convey free and clear of all liens and encumbrances the off-site Collection and Transmission Facilities to the TOWN together with any necessary easements or interests in real property such that the TOWN can appropriately utilize, operate and maintain said facilities.
Transfer of Facilities. As soon as practicable after Closing, but in no event later than 120 days after Closing, the Purchased Assets that are located in Sellers' facilities not constituting the Premises shall be relocated to the Premises. Buyers shall bear the costs associated with transferring such Purchased Assets to the Premises; however Sellers shall not charge Buyers rent or any other fees for 60 days following Closing for such Purchased Assets which remain on Sellers' property.