Reversionary Interest definition

Reversionary Interest means the right of the depart- ment to assume ownership of a property acquired with a grant under this chapter as specified in the grant contract, and under s.

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Reversionary Interest reserved pursuant to the conveyance delivered at the First Closing is hereby released and dissolved. Whether or not the Second Closing occurs, the First Tranche shall be owned by Buyer and Seller shall have no right to require Buyer to reconvey the same to Seller, and except as otherwise provided in the Purchase Agreement or the JOA, Buyer shall be solely responsible for costs and liabilities associated with the First Tranche.

Reversionary Interest is defined in Section 2.6(a).

Examples of Reversionary Interest in a sentence

• The terms hereof including, but not limited to, the terms of the Reversionary Interest, are specifically enforceable by Presbytery.

• The Reversionary Interest may be included in the Deed or in a separate instrument filed of record against the Property, as City and Developer may hereafter agree (provided, that in the failure of such agreement, it shall be included in the Deed).

• School Board and Lender further agree that any transfer of Borrower’s leasehold in interest in the Property in connection with foreclosure or deed in lieu thereof (a “Transfer”) shall not require School Board’s consent; provided, however, that notwithstanding a Transfer, the Property shall continue to be subject to the terms of the Ground Lease and the Use Restriction and any such Transfer shall in no way affect School Board’s Reversionary Interest.

• No additional working interest will be assigned to MorMeg if the Reversionary Interest is equal to 0.0%.

• If in connection with any such conveyance or permanent cessation of production pursuant to any Prior Reversionary Interest, Grantor receives compensation attributable to all or any portion of the Net Profits Interest (“Reversionary Compensation”), an amount equal to the Gross Reversionary Compensation shall be considered an Offset Amount for purposes hereof during the Payment Period in which Grantor receives the Reversionary Compensation.

More Definitions of Reversionary Interest

Reversionary Interest has the meaning set forth in Section 2.02(c).

Reversionary Interest is defined in Section 20(b).

Reversionary Interest means the right of the department to assume ownership of a property acquired with a grant under this chapter as specified in the grant contract, and under s. 23.096 (5), Stats.

Reversionary Interest has the meaning set forth in Section 5.8.

Reversionary Interest has the meaning specified in the definition of Excluded Assets.

Reversionary Interest means 20% of any deferred purchase price, payments, earn-out or similar rights that become due and payable to any of the Subject Companies with respect to the reversionary interest in accordance with paragraph 1 of the SMWI Purchase Agreement.

Reversionary Interest means the right to receive (i) zero percent (0%) of all Royalties until Purchaser has received Royalties in an amount equal to the Reversionary Interest Threshold, and (ii) eighty-five percent (85%) of all Royalties thereafter.