Transfer of Real Estate. The Real Estate of the Branches will be conveyed under the following terms and conditions:
Transfer of Real Estate. At least thirty (30) days prior to the Closing, Heritage BHC shall have caused the Bank to sell, transfer or otherwise distribute, on terms and conditions reasonably satisfactory to State National BHC, those properties listed on Schedule 5.20 (the "Distribution Properties") to the shareholders of Heritage BHC. Such Distribution Properties shall be subject to a deed restriction that prohibits the use of such property by any federally insured financial institution for a period of three (3) years following the Effective Date.
Transfer of Real Estate. At or promptly following the Closing, ----------------------- the parties agree that the Sellers will cause the real property known as the Patriot's Trail property, which consists of approximately seven (7) acres in Hinesville, Georgia (the "Seller Real Property") to be sold to Buyer. The parties agree that CCI shall pay $3,640,000 for the Seller Real Property as follows: $1,255,000 at Closing, and $2,385,000 to be financed by G. Xxxxx Xxxxxx, Xxxxxx X. Xxxxxx and related and/or affiliated entities; such financing shall be amortized over thirty (30) years with a six (6) year balloon payment ($2,237,732.78), at a fixed eight percent (8%) annualized interest rate, with monthly payments beginning May 1, 2000 in the amount of $17,500. All other real property matters have been agreed to by the parties in interest."
5. The Agreement is amended by inserting the following Section 6(h):
Transfer of Real Estate. Upon the terms and subject to the conditions contained in this Agreement, at the Closing Seller will convey, transfer, assign and deliver the Real Estate to Buyer by the Deed. Said Deed shall convey marketable title, subject only to:
(a) such taxes as are not due and payable on the date of the delivery of such Deed;
(b) non-monetary easements, restrictions and reservations of record as of the date hereof;
(c) Encumbrances and other exceptions to title as to which the Buyer waives its objections as provided for in Section 8.8; and
(d) other Permitted Encumbrances.
Transfer of Real Estate. Prior to, or concurrent with the Closing, the Shareholder shall cause Chemicon to purchase and acquire from Xxxxxx and cause Xxxxxx to sell, transfer, and convey, free and clear of all Liens, all right, title and interest in and to all real property (the "Xxxxxx Real Property") and all improvements, furniture and fixtures thereon and all other assets owned by Xxxxxx as of the date hereof and as of the Closing Date.
Transfer of Real Estate. Partner Company Stockholder shall have delivered to Founder (i) limited warranty deeds sufficient to transfer and convey title to the Real Estate consistent with the representations and warranties regarding the Real Estate set forth herein, (ii) such other assignments, bills of sale, certificates of title and instruments of transfer, all in form reasonably satisfactory to Founder, as are necessary to convey fully and effectively to Founder the Real Estate in accordance with the terms hereof and (iii) the Title Policies in the form required hereby (including all endorsements and coverages provided for herein) and any documents or instruments required by the Title Company to issue the Title Policies.
Transfer of Real Estate. 5.1 Counsel for Seller shall hold the Deed(s) in escrow until the Note referenced in Paragraph No. 2.4 is fully paid. The Real Estate to be conveyed is to be free and clear of all liens, encumbrances and easements excluding those specifically referenced in this Agreement. Purchasers shall be responsible for obtaining and paying for an abstract of title and title insurance, at their option.
5.2 In the event Seller shall default under the terms of this Agreement, Purchasers may, in their discretion, proceed with an action against Seller for the specific performance of this Agreement.
5.3 In the event Purchasers shall default under the terms of this Agreement, Seller shall be privileged to retain, as liquidated damages, all monies paid to Seller hereunder and this Agreement shall thereafter be terminated without further loss, cost, damage, right or remedy in favor of either party against the other.
Transfer of Real Estate. Transfer of ownership or management responsibilities of real property, including those listed or determined eligible, to another Federal agency with equal responsibility for complying with Sections 106 and 110 of the NHPA.
Transfer of Real Estate. Prior to the Closing, the Sellers shall cause the Company to transfer to the Sellers or an Affiliate of the Sellers, in a manner as determined by the Sellers subject to the reasonable approval of the Buyer, the Real Property, and all related liabilities.
Transfer of Real Estate. If the real property used in the operation of the Hotel is owned directly or indirectly by Licensee or by an individual or Entity that owns any Equity Interest in Licensee and Licensee, or that individual or Entity proposes to transfer all or a substantial part of such property to a third party, such transfer shall constitute a transfer under the provisions of this License requiring an application for a new license agreement, unless Licensee receives Licensor’s prior written consent for the transaction.
