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.