Examples of Relinquished Property Agreement in a sentence
The QI hereby acknowledges that it shall have no interest in any Relinquished Property Agreement with respect to any Vehicle that is not Relinquished Property.
Each of the parties hereto agrees and acknowledges that any assignment to the QI hereunder shall not give the QI any rights under any Relinquished Property Agreement to which any Legal Entity is a party relating to the disposition of a Vehicle except the Rights in respect of a Vehicle that becomes Relinquished Property.
Each Legal Entity hereby assigns to the QI, solely in the QI’s capacity as Qualified Intermediary, such Legal Entity’s Rights, but not its obligations, under each related Relinquished Property Agreement that it enters into after the date of this Agreement, such assignment to be effective only upon such Legal Entity’s transfer of such Relinquished Property pursuant to Section 2.03 and only with respect to such Relinquished Property.
Nevertheless, pending the applicable Legal Entity’s completion of the matching procedures under this Agreement, all items of Tangible Personal Property transferred pursuant to a Relinquished Property Agreement, or acquired pursuant to a Replacement Property Agreement, shall be transferred or acquired, as the case may be, pursuant to the terms of this Agreement.
Each of the parties hereto agrees and acknowledges that any assignment to QI hereunder shall not give QI any rights under any Relinquished Property Agreement to which any Exchanger is a party relating to the disposition of Assets except the Rights in respect of an Asset that becomes Relinquished Property.
Each Exchanger hereby assigns to QI, such Exchanger’s Rights with respect to each Relinquished Property Agreement and each Replacement Property Agreement arising on or after the date of this Agreement relating to the disposition of Relinquished Property or acquisition of Replacement Property.
All obligations of the applicable Exchanger under each Relinquished Property Agreement, including, without limitation, all representations, warranties and covenants shall remain the obligations solely of such Exchanger.
Exchanger will directly convey or deed Relinquished Property to Purchaser Exchanger shall execute on or before the closing of Relinquished Property, an Assignment of Relinquished Property Agreement, assigning Exchanger’s rights, but not obligations, thereunder to Intermediary.
Subject to and conditioned upon the close of the Relinquished Property Agreement and subject to and upon the terms and conditions set forth in this Agreement, Intermediary hereby agrees to acquire the Relinquished Property from Exchanger, to transfer the Relinquished Property to Purchaser, to acquire the Replacement Property from the seller thereof (“Seller”) and to transfer the Replacement Property to Exchanger.
By notice to the QI, each Legal Entity may revoke its assignment to the QI of its Rights under a then-existing Relinquished Property Agreement or Replacement Property Agreement with respect to any item or items of Tangible Personal Property identified in such notice and not yet transferred or received.