Reversion Right definition

Reversion Right means Donor’s right of reversion in the Donated Property and all improvements and fixtures located thereon.
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Reversion Right has the meaning set forth in Section 8.1.
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Reversion Right means Donor’s right of reversion in the Donated Property and all improvements and fixtures located thereon. For the avoidance of doubt, Donor may only exercise the Reversion Right if it simultaneously exercises its right of reversion in the Original Property pursuant to the 2019 Donation Agreement.
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Examples of Reversion Right in a sentence

  • If Donor elects to exercise its Reversion Right, the Donated Property and all improvements and fixtures located thereon shall revert to Donor as of the date of such exercise of Donor’s Reversion Right.

  • Donor shall give prior written notice to Donee of the failure to comply with the Completion Requirement and Donor’s option to exercise the Reversion Right.

  • In the event that Donee fails to comply with the Financing Requirement, Donor, in its reasonable discretion, shall have the right of exercising its Reversion Right in the Donated Property and all improvements and fixtures located thereon.

  • In the event that Donee fails to comply with the Completion Requirement, Donor, in its reasonable discretion, shall have the right of exercising its Reversion Right in the Donated Property and all improvements and fixtures located thereon.

  • This Agreement shall terminate automatically upon recordation of a Certificate of Completion or a Certificate of Termination of Reversion Right.

  • If Donee fulfills the Completion Requirement by June 30, 2025, Donee shall be deemed in compliance with the Completion Requirement and shall not be subject to the Reversion Right or Repayment Amount requirement under this Section 14(d)(i).

  • In the event Donee fails to timely remit such payment, Donor may exercise its Reversion Right upon written notice to Donee, and the Donated Property and all improvements and fixtures located thereon shall revert to Donor as of the date of such exercise of the Reversion Right.

  • Failure by the Bidder to submit the DBE Participation Schedule may result in the rejection of the bid.Within forty-eight (48) hours from notification by SEPTA, Bidder is required to submit a commitment confirmation document for each DBE firm scheduled to participate.SEPTA reserves the right to accept the bid in the event it has been determined that the DBE Participation Schedule submitted has clerical error/omissions and they have been corrected to SEPTA’s satisfaction.

  • Donor shall give prior written notice to Donee of the failure to comply with the Compleion Requirement and Donor’s election of either the Reversion Right or the Repayment Amount payment.

  • In the event Donee fails to timely remit the Repayment Amount within forty-five (45) days of such written notice, Donor may exercise its Reversion Right upon written notice to Donee, and the Donated Property and all improvements and fixtures located thereon shall revert to Donor as of the date of such exercise of the Reversion Right.


More Definitions of Reversion Right

Reversion Right has the meaning ascribed to it in Section 6.7(b).
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Reversion Right means Donor’s right of reversion in the Property and all improvements and fixtures located thereon for failure to comply with the Completion Requirement (defined below).
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Reversion Right means the Obligor's reversion right as described in Section 5.10 of the Trust Agreement.
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Related to Reversion Right

  • Conversion Right has the meaning set forth in Section 4.05(a) hereof.

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

  • Termination Option means the option of either party to terminate a transaction in the event that the other party fails to perform a Firm obligation to deliver Gas in the case of Seller or to receive Gas in the case of Buyer for a designated number of days during a period as specified on the applicable Transaction Confirmation.

  • Renewal Option has the meaning set forth in §12.1.

  • Termination Option Event means an event of a kind defined as such in Section 4.1, 4.2 or 4.8.

  • Financial Transmission Right Option means a right to receive Transmission Congestion Credits as specified in Operating Agreement, Schedule 1, section 5.2.2(c), and the parallel provisions of Tariff, Attachment K-Appendix, section 5.2.2(c).

  • Put Option means an exchange traded option with respect to Securities other than Stock Index Options, Futures Contracts, and Futures Contract Options entitling the holder, upon timely exercise and tender of the specified underlying Securities, to sell such Securities to the writer thereof for the exercise price.

  • Option means a stock option granted pursuant to the Plan.

  • Option Term means a period, if any, through which this Agreement may be or has been extended by the JBE.

  • Call Option means an exchange traded option with respect to Securities other than Stock Index Options, Futures Contracts, and Futures Contract Options entitling the holder, upon timely exercise and payment of the exercise price, as specified therein, to purchase from the writer thereof the specified underlying Securities.

  • Purchase Right means an option to purchase shares of Common Stock granted pursuant to the Plan.

  • Unvested Option means an Option in respect of which the relevant Vesting Conditions have not been satisfied and as such, the Option Grantee has not become eligible to exercise the Option.

  • Share Appreciation Right means the right pursuant to an Award granted under Section 8 below to receive an amount equal to the excess, if any, of (i) the aggregate Fair Market Value, as of the date such Award or portion thereof is surrendered, of the Shares covered by such Award or such portion thereof, over (ii) the aggregate Exercise Price of such Award or such portion thereof.

  • Exchange Right has the meaning ascribed thereto in Section 5.1;

  • Option to Purchase has the meaning set forth in Section 13.1.