Examples of Nominee Purchaser in a sentence
The Contractor may refuse to supply Deliverables to a particular Customer or Nominee Purchaser provided it has used reasonable endeavours to reach agreement with the Customer or Nominee Purchaser and it has first obtained the Contract Authority’s prior written consent to the restriction.
The Nominee Purchaser is the person named in the Initial Notice, who will acquire the freehold and become the new landlord.The Nominee Purchaser must be decided upon at an early stage, in that he or she conducts the later stages of the process and,on completion, will be responsible for the management of the building.The Nominee Purchaser can be a person, one of the tenants,or a corporate person, a trust or, more probably, a company formed by the tenants for the purpose.
The sale/purchase can then proceed in the normal way and on completion, the purchase monies and costs are paid to the freeholder who then transfers the freehold to the Nominee Purchaser.
At the Closing, upon the terms and subject to the conditions of this Agreement, the Seller shall, and shall cause the Nominee Holder to, sell, transfer, assign, convey and deliver to the Purchaser, and the Purchaser shall, and shall cause the Nominee Purchaser to, purchase and accept from the Seller and the Nominee Holder, the Membership Interests, free and clear of all Encumbrances, for the Purchase Price.
Where there are more than 4 participating flat owners we would advise that a company is set up to be the Nominee Purchaser.
If the flat owners or Nominee Purchaser (see below) withdraw from the claim then they will be liable for the landlord’s costs incurred up to the date that they withdraw.
The purchaser is then known as the Nominee Purchaser Details of the qualifying tenants participating The Initial Notice is then signed by all of the qualifying tenants and served on the Freeholder.
The flat owners will retain the existing leases and the Nominee Purchaser will act as the landlord in relation to the individual flat owners.
The execution, delivery and performance by each of the Purchaser and the Nominee Purchaser of the Transaction Documents to which it is a party and the consummation by such Person of the Transactions have been duly authorized by all necessary corporate action on the part of such Person and no other action on the part of such Person is necessary to authorize this Agreement or the consummation of the Transactions.
The Tripartite Panel comprising Senior Officers from each agency meets to discuss children with the most complex needs where consideration is being given to Out of County placements.