Possessory Rights definition

Possessory Rights means the right to possess LPG, but excludes broker trading or selling.
View Source
Possessory Rights means the rights of possession, use, and enjoyment over the Property, as well as any and all related possession rights. In addition to the aforementioned rights, the term “Possessory Rights” used in this Agreement must always be interpreted as also comprising the right to the constitution of easement of the following natures: (i) civil, regulated by the Civil Code, (ii) administrative, provided for in Decree-Law No. 3,365/1941 and (iii) mining, under the terms of Decree-Law No. 227/1967 and also the right to the disposal of any and all improvements of any nature located in the Property, as well as the granting of any rights related to the regularization of the ownership of the Property by the ASSIGNEE with any and all entities of the competent Public Administration, including but not limited to INCRA and/or SPU, also, via legal action, including adverse possession action (usucapiao).
View Source

Examples of Possessory Rights in a sentence

  • If such taking or condemnation occurs at any time during the first ten (10) Lease Years, Lessee shall be entitled to the portion of such Award attributable to the Possessory Rights Value, and Lessor shall be entitled to the portion of such Award attributable to the and Improvement Value and the Fee Value.

  • The ASSIGNEE may assign this Agreement to any person, whether such is a related party or third party, in order to receive the Possessory Rights and replace the ASSIGNEE in this Agreement in all its rights and obligations.

  • If such taking or condemnation occurs at any time after the first ten (10) Lease Years, Lessee shall be entitled to the portion of such Award attributable to the Possessory Rights Value and Improvement Value, and Lessor shall be entitled to the portion of such Award attributable to the Fee Value.