Acquire Real Property Clause Samples

The 'Acquire Real Property' clause authorizes a party, typically a government entity or corporation, to purchase, lease, or otherwise obtain ownership or control of land or buildings necessary for its operations or projects. This clause outlines the procedures and conditions under which real property may be acquired, such as requiring appraisals, negotiations, or compliance with relevant laws and regulations. Its core practical function is to provide a clear legal framework for acquiring property, ensuring that the process is orderly, transparent, and compliant with applicable requirements.
Acquire Real Property. Purchase or otherwise acquire any interest in real property other than the Company’s indirect ownership interest in the Project.
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Acquire Real Property. Purchase or otherwise acquire any interest in real property other than the Company’s indirect ownership interest in the Property. SMRH:479330698.9
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Acquire Real Property. Purchase or otherwise acquire any interest in real property other than the Company’s interest in the Project pursuant to the Purchase Agreement. (i) Prior to the date hereof, Managing Member has delivered to Co-Managing Member all of the “Buyer’s 3-14 Audit Documents” (as defined in the Purchase Agreement) with respect to calendar year 2013 through and including the month of November, and Co-Managing Member acknowledges receipt of the same. Co-Managing Member has notified Managing Member that Co-Managing Member will need the Buyer’s 3-14 Audit Documents for the month of December 2013 in a form and content substantially similar to the Buyer’s 3-14 Audit Documents previously delivered to Co-Managing Member and may need additional supporting audit documentation with respect to the Project. Managing Member (unless it is otherwise able to obtain such supporting information) will use commercially reasonable efforts to enforce the provisions of Section 9.7 of the Purchase Agreement (which requires, among other things, Seller to reasonably cooperate with Contract Purchaser in connection with any additional information or documentation Contract Purchaser may require with respect to “Buyer’s 3-14 Audit” (as defined in the Purchase Agreement)) to cause Seller to deliver such additional supporting documentation to Co-Managing Member. Co-Managing Member shall promptly notify Managing Member in writing after completion of the Buyer’s 3-14 Audit (the “3-14 Audit Completion Notice”). If Co-Managing Member has not delivered a 3-14 Audit Completion Notice on or before the earlier of (x) the second day following the date that Managing Member notifies Co-Managing Member in writing that the Seller has notified Contract Purchaser in writing that Seller will not deliver any additional Buyer’s 3-14 Audit Documents or supporting audit documentation with respect to the Project or (y) January 15, 2014, Managing Member shall have the right to elect to have Co-Managing Member withdraw from the Company by delivering written notice to Co-Managing Member (a “Withdrawal Notice”) at any time thereafter so long as Co-Managing Member has not delivered a 3-14 Audit Completion Notice. If Co-Managing Member is unable to complete the Buyer’s 3-14 Audit, Co-Managing Member shall have the right to withdraw from the Company by delivering a Withdrawal Notice to Managing Member. (ii) Notwithstanding anything to the contrary in this Agreement, if a Withdrawal Notice is delivered pursuant to Section 2....
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Related to Acquire Real Property

  • Owned Real Property The Company does not own any real property.

  • Title; Real Property (a) Each of the Borrower and its Subsidiaries has good and marketable title to, or valid leasehold interests in, all Real Property and good title to all personal property, in each case that is purported to be owned or leased by it, including those reflected on the most recent Financial Statements delivered by the Borrower, and none of such properties and assets is subject to any Lien, except Liens permitted under Section 8.2

  • Real Property (a) Neither the Company nor any of its Subsidiaries owns or has ever owned any real property. (b) Section 3.15(b) of the Company Disclosure Letter contains a complete and accurate list of all of the existing material leases, subleases, licenses or other agreements under which the Company or any of its Subsidiaries uses or occupies or has the right to use or occupy, now or in the future, any real property in excess of 7,500 square feet (such property, the “Leased Real Property”, and each such lease, sublease, license or other agreement, a “Lease”). The Company has heretofore delivered or made available to Newco a complete and accurate copy of all Leases (including all modifications, amendments, supplements, waivers and side letters thereto). With respect to each of the Leases: (A) the Company’s or Subsidiary’s possession and quiet enjoyment of the Leased Real Property under such Lease has not been disturbed, and to the Company’s or Subsidiary’s knowledge, there are no disputes with respect to such Lease; (B) the Company or Subsidiary has not collaterally assigned or granted any other security interest in such Lease or any interest therein; (C) the Company or Subsidiary has not subleased, licensed or otherwise granted any Person the right to use or occupy such Leased Real Property or any portion thereof; and (D) there are no liens or encumbrances on the estate or interest created by such Lease, other than Permitted Liens which are not of the type described in clause (iii) of the definition thereof. The Company and/or its Subsidiaries have and own valid leasehold estates in the Leased Real Property, free and clear of all liens other than Permitted Liens. To the knowledge of the Company, neither the Company nor any of its Subsidiaries is in material breach of or default under any Lease. (c) Section 3.15(c) of the Company Disclosure Letter contains a complete and accurate list of all of the existing subleases, licenses or similar agreements (each a “Sublease”) granting to any Person, other than the Company or any of its Subsidiaries, any right to use or occupy, now or in the future, any of the Leased Real Property. With respect to each of the Subleases: (A) to the Company’s Knowledge, there are no disputes with respect to such Sublease; and (B) the other party to such Sublease is not an Affiliate of, and otherwise does not have any economic interest in, the Company or any Subsidiary. (d) Section 3.15(d) of the Company Disclosure Letter sets forth for each Lease and Sublease (i) the expiration date of such Lease or Sublease, (ii) any payments in connection with such Lease or Sublease triggered or accelerated in connection with the transactions contemplated by this Agreement and (iii) the amount of the security deposit, if any, applicable to such Lease or Sublease.

  • Real Property Interests (a) The Owner has provided, or upon execution of this Agreement shall promptly provide to the Developer, documentation acceptable to TxDOT indicating any right, title or interest in real property claimed by the Owner with respect to the Owner Utilities in their existing location(s). Such claims are subject to TxDOT’s approval as part of its review of the Developer’s Utility Assembly as described in Paragraph 2. Claims approved by TxDOT as to rights or interests are referred to herein as “Existing Interests”. (b) If acquisition of any new easement or other interest in real property (“New Interest”) is necessary for the Adjustment of any Owner Utilities, then the Owner shall be responsible for undertaking such acquisition. The Owner shall implement each acquisition hereunder expeditiously so that related Adjustment construction can proceed in accordance with the Developer’s Project schedules. The Developer shall be responsible for its share (if any, as specified in Paragraph 6) of the actual and reasonable acquisition costs of any such New Interest (including without limitation the Owner’s reasonable overhead charges and reasonable legal costs as well as compensation paid to the landowner), excluding any costs attributable to Betterment as described in Paragraph 16(c), and subject to the provisions of Paragraph 16(e); provided, however, that all acquisition costs shall be subject to the Developer’s prior written approval. Eligible acquisition costs shall be segregated from other costs on the Owner's estimates and invoices. Any such New Interest shall have a written valuation and shall be acquired in accordance with applicable Law. (c) The Developer shall pay its share only for a replacement in kind of an Existing Interest (e.g., in width and type), unless a New Interest exceeding such standard (i) is required in order to accommodate the Project or by compliance with applicable law, or (ii) is called for by the Developer in the interest of overall Project economy. Any New Interest which is not the Developer’s cost responsibility pursuant to the preceding sentence shall be considered a Betterment to the extent that it upgrades the Existing Interest which it replaces, or in its entirety if the related Owner Utility was not installed pursuant to an Existing Interest. Betterment costs shall be solely the Owner’s responsibility. (d) For each Existing Interest located within the final Project right of way, upon completion of the related Adjustment work and its acceptance by the Owner, the Owner agrees to execute a quitclaim deed or other appropriate documentation relinquishing such Existing Interest to TxDOT, unless the affected Owner Utility is remaining in its original location or is being reinstalled in a new location within the area subject to such Existing Interest. All quitclaim deeds or other relinquishment documents shall be subject to TxDOT's approval as part of its review of the Utility Assembly as described in Paragraph 2. For each such Existing Interest relinquished by the Owner, the Developer shall do one of the following to compensate the Owner for such Existing Interest, as appropriate: (i) If the Owner acquires a New Interest for the affected Owner Utility, the Developer shall reimburse the Owner for the Developer’s share of the Owner’s actual and reasonable acquisition costs in accordance with Paragraph 16(b) and subject to Paragraph 16(c); or (ii) If the Owner does not acquire a New Interest for the affected Owner Utility, the Developer shall compensate the Owner for the Developer’s share of the fair market value of such relinquished Existing Interest, as mutually agreed between the Owner and the Developer and supported by a written valuation. The compensation, if any, provided to the Owner pursuant to either subparagraph (i) or subparagraph (ii) above shall constitute complete compensation to the Owner for the relinquished Existing Interest and any New Interest, and no further compensation shall be due to the Owner from the Developer or TxDOT on account of such Existing Interest or New Interest(s). (e) The Owner shall execute a Utility Joint Use Acknowledgment (TxDOT-U-80A) for each Adjustment where required pursuant to TxDOT policies. All Utility Joint Use Acknowledgments shall be subject to TxDOT approval as part of its review of the Utility Assembly as described in Paragraph 2.

  • Real Properties The Company does not have an interest in any real property, except for the Leases (as defined below).