Reversion Price definition
Examples of Reversion Price in a sentence
We will ensure that the sum insured under the policy always exceeds the Reversion Price.
As part of obtaining our written consent, we must reach agreement on the value of such improvements, which shall then be added to the Reversion Price once the works are completed by you to our satisfaction.
In addition, if such substantial improvements are approved by us then you may apply to increase the Reversion Price of the Property by an amount equal to the market cost of such improvements.
You must provide a registerable transfer of your interest in this Agreement to us or our nominee together with a registerable discharge of any mortgage registered against your interest in this Agreement to us contemporaneously with us making payment of the Reversion Price.
If required by your Bank, we will pay the Reversion Price directly to your Bank.
If we allow you to serve an Exercise Notice on us under this clause 9.3 then the Reversion Price shall be equal to the Upfront Price plus the cost of any Improvements in accordance with clause 7.2.3 above (i.e. neither amount shall be adjusted for inflation).
The cost of such repairs may be deducted by the Landholder from the Reversion Price as an expense under clause 12(c)(ii), or to rectify damages under clause 15.
As part of obtaining our written consent, we must reach agreement on the value of such improvements, which amount will be added to the Reversion Price once the works are completed by you to our satisfaction.