Unwanted property Clause Samples

The "Unwanted property" clause defines how property that is not desired by the receiving party is to be handled in a transaction or agreement. Typically, this clause outlines the process for identifying such property, the obligations of the parties regarding its removal or disposal, and any associated costs or responsibilities. For example, in a real estate sale, it may specify that the seller must remove certain items from the premises before closing. The core function of this clause is to prevent disputes and clarify responsibilities regarding property that one party does not wish to accept, ensuring a smooth transfer and avoiding unwanted liabilities.
Unwanted property. If after the end of the Term any property remains on the Premises or the Estate the landlord may either in so far as the same is annexed to the Premises treat it as having reverted to the Landlord or as the agent of the Tenant (and the Landlord is appointed by the Tenant to act in that behalf) remove, store, and sell such property and then hold the proceeds of sale after deducting the reasonable and proper costs and expenses of removal, storage and sale incurred by it to the order of the Tenant and the Tenant shall indemnify the Landlord against liability incurred by it to any third party whose property is dealt with by the Landlord.
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Unwanted property. If after the ending of the term any property remains on the demised premises for more than 14 days the Landlord may either in so far as the same is annexed to the demised premises treat it as having reverted to the Landlord or as the agent of the Tenant (and the Landlord is appointed by the Tenant to act in that behalf) remove, store, and sell such property and then hold the proceeds of sale after deducting the proper costs and expenses of removal, storage and sale incurred by it to the order of the Tenant provided that the Tenant shall indemnify the Landlord against liability incurred by it to any third party whose property has been sold by the Landlord in the bona fide mistaken belief that such property belongs to the Tenant.
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Unwanted property. If after the ending of the Term, any property remains on the Demised Premises the Landlord may either in so far as the same is annexed to the Demised Premises treat it as having reverted to the Landlord or as the agent of the Tenant (and the Landlord is appointed by the Tenant to act in that behalf) remove, store, and sell such property and then hold the proceeds of sale after deducting the costs and expenses of removal, storage and sale incurred by it to the order of the Tenant.
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Unwanted property. All of the Unwanted Property shall be duly and validly transferred by Metalsco or Skyliner, as the case may be, to Seller as provided in Section 2A.1 prior to the Closing without any Liability (including without limitation for any Taxes) to, or the need for further action by, Metalsco, Skyliner or NSA.
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Related to Unwanted property

  • B8 Property Where the Client issues Property free of charge to the Contractor such Property shall be and remain the property of the Client and the Contractor irrevocably licences the Client and its agents to enter upon any premises of the Contractor during normal business hours on reasonable notice to recover any such Property. The Contractor shall not in any circumstances have a lien or any other interest on the Property and the Contractor shall at all times possess the Property as fiduciary agent and bailee of the Client. The Contractor shall take all reasonable steps to ensure that the title of the Client to the Property and the exclusion of any such lien or other interest are brought to the notice of all sub-contractors and other appropriate persons and shall, at the Client’s request, store the Property separately and ensure that it is clearly identifiable as belonging to the Client.

  • Recovered Property If you or we recover any property for which we have made payment under this policy, you or we will notify the other of the recovery. At your option, the property will be returned to or retained by you or it will become our property. If the recovered property is returned to or retained by you, the loss payment will be adjusted based on the amount you received for the recovered property.

  • WIFE’S PROPERTY It is declared by the Couple that, under this Agreement, the Wife shall be the owner of the following assets and property:

  • Excluded Property Notwithstanding anything to the contrary in Section 2.1, the property, assets, rights and interests set forth in this Section 2.2 (the “Excluded Property”) are excluded from the Property:

  • Contamination The presence in, on or under land, air or water of a substance (whether a solid, liquid, gas, odour, heat, sound, vibration or radiation) at a concentration above the concentration at which the substance is normally present in, on or under land, air or water in the same locality, that presents a risk of Environmental Harm, including harm to human health or any other aspect of the Environment, or could otherwise give rise to a risk of non-compliance with any Statutory Requirement for the protection of the Environment.