Additional Parcel Clause Samples

The "Additional Parcel" clause defines the terms under which extra land or property, beyond the main parcel described in the agreement, may be included in the transaction. This clause typically specifies the location, size, and legal description of the additional parcel, and outlines any conditions or procedures for its inclusion, such as price adjustments or required approvals. Its core function is to provide a clear mechanism for expanding the scope of the property involved, thereby preventing disputes and ensuring both parties understand what is being conveyed.
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Additional Parcel. Section 4.01(A)(j) Additional Work Allowance Premises................ Section 6.05(a) Additional Work Allowance......................... Section 6.05(a) Affiliate of Landlord..........................
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Additional Parcel. The Lessee covenants and agrees that, pursuant to the Additional Parcel Agreement of Covenants and Restrictions, it shall acquire title to the Additional Parcel. Upon the Additional Parcel Inclusion Date, (x) the instrument of conveyance shall be substantially in the form attached hereto as Exhibit M, (y) this Agreement shall be deemed to include the Additional Parcel within the Land subject to this Agreement, without any further action required from the Agency or the Lessee and (z) the Lessee and the Agency shall execute new memoranda of the Company Lease and this Agreement showing the Additional Parcel as part of the respective leasehold estates, and the Lessee shall at its sole cost and expense record each of the same at the appropriate Office of the City Register of The City of New York.
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Additional Parcel. As of and following the Effective Date, the parcel of land commonly known as ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇ and more particularly described in Exhibit A attached hereto shall be added to the description of the real property leased to Lessee pursuant to the Lease and shall thereafter be subject to the terms and provisions of the Lease.
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Additional Parcel. The property commonly known as 43 Newburgh Road, Hackettstown, New Jersey, shall be prior to Closi▇▇, ▇▇ ▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇▇▇ce, provided, however, no entry or adjustment shall be made to the Closing Balance Sheet relating to such parcel.
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Additional Parcel. The property commonly known as 43 N▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇, ▇▇all be prior to Closing, or has been, transferred back to Amerace, provided, however, no entry or adjustment shall be made to the Closing Balance Sheet relating to such parcel.
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Additional Parcel. The initial location of the Additional Parcel shall be the portion of the Property upon which a certain portion of the nominal 24” diameter coated steel pipe is currently stored, plus such additional working area surrounding such pipe as is necessary in Lessee’s determination, up to a maximum total area of approximately 3.7 acres, as such initial Additional Parcel is depicted for identification purposes only on Exhibit A attached hereto. In the event that Lessor requires the use of the land constituting the Additional Parcel, Lessor shall have the right to relocate the Additional Parcel to a mutually agreeable alternate location, due consideration being given to Lessee’s operations on the remainder of the Premises, by providing written notice of such intent to Lessee (the “Relocation Notice”). Promptly upon delivery of the Relocation Notice, Lessor and Lessee shall cooperate in good faith to determine a mutually acceptable new location for the Additional Parcel, and the parties shall acknowledge such agreement in an amendment to the Lease. Lessee shall have a period of 30 days after such amendment is signed by both parties in which to move Lessee’s property from the existing Additional Parcel to the new Additional Parcel. Lessee shall have the right, from time to time, to request that the Additional Parcel (including any new Additional Parcel) be expanded, in which events Lessor and Lessee shall cooperate in good faith to determine a mutually acceptable location or locations for expansion of the Additional Parcel. Upon the mutual agreement of the parties as to such location(s), the parties shall acknowledge such agreement by signing and delivering each to the other a notice of expansion in substantially the form of Exhibit B hererto.
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Additional Parcel. At least fifteen (15) Business Days before the commencement of the Primary Term (as defined in the Lease), the Company shall Make Available to the Purchasers its decision whether to exercise its rights to reduce the property subject to the Lease under Section 4.01(c) of the Lease, together with reasonably satisfactory information supporting such decision.
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Related to Additional Parcel

  • Additional Land All ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇ and development rights hereafter acquired by Borrower for use in connection with the Land and the development of the Land and all additional lands and estates therein which may, from time to time, by supplemental mortgage or otherwise be expressly made subject to the lien of this Security Instrument;

  • Additional Property The Trustee is specifically authorized to receive additional property from any source and to hold and administer this property as part of the Trust Estate.

  • Additional Parties The Lending Agent agrees that additional Clients may be added as parties to this Agreement from time to time upon written notice to the Lending Agent and upon written consent of the Lending Agent to the addition of any such additional Client.

  • Additional Partners (a) Effective on the first day of any month (or on such other date as shall be determined by the General Partner in its sole discretion), the General Partner shall have the right to admit one or more additional or substitute persons into the Partnership as General Partners or Limited Partners. Each such person shall make the representations and certifications with respect to itself set forth in Sections 3.7 and 3.8. The General Partner shall determine and negotiate with the additional Partner all terms of such additional Partner’s participation in the Partnership, including the additional Partner’s initial GP-Related Capital Contribution, Capital Commitment-Related Capital Contribution, GP-Related Profit Sharing Percentage and Capital Commitment Profit Sharing Percentage. Each additional Partner shall have such voting rights as may be determined by the General Partner from time to time unless, upon the admission to the Partnership of any Limited Partner, the General Partner shall designate that such Limited Partner shall not have such voting rights (any such Limited Partner being called a “Nonvoting Limited Partner”). Any additional Partner shall, as a condition to becoming a Partner, agree to become a party to, and be bound by the terms and conditions of, the Trust Agreement. If Blackstone or another or subsequent holder of an Investor Note approved by the General Partner for purposes of this Section 6.1(a) shall foreclose upon a Limited Partner’s Investor Note issued to finance such Limited Partner’s purchase of his Capital Commitment Interests, Blackstone or such other or subsequent holder shall succeed to such Limited Partner’s Capital Commitment Interests and shall be deemed to have become a Limited Partner to such extent. Any Additional Partner may have a GP-Related Partner Interest or a Capital Commitment Partner Interest, without having the other such interest. (b) The GP-Related Profit Sharing Percentages, if any, to be allocated to an additional Partner as of the date such Partner is admitted to the Partnership, together with the pro rata reduction in all other Partners’ GP-Related Profit Sharing Percentages as of such date, shall be established by the General Partner pursuant to Section 5.3. The Capital Commitment Profit Sharing Percentages, if any, to be allocated to an additional Partner as of the date such Partner is admitted to the Partnership, together with the pro rata reduction in all other Partners’ Capital Commitment Profit Sharing Percentages as of such date, shall be established by the General Partner. (c) An additional Partner shall be required to contribute to the Partnership his pro rata share of the Partnership’s total capital, excluding capital in respect of GP-Related Investments and Capital Commitment Investments in which such Partner does not acquire any interests, at such times and in such amounts as shall be determined by the General Partner in accordance with Sections 4.1 and 7.1. (d) The admission of an additional Partner will be evidenced by (i) the execution of a counterpart copy of, or counter-signature page with respect to, this Agreement by such additional Partner, or (ii) the execution of an amendment to this Agreement by the General Partner and the additional Partner, as determined by the General Partner, or (iii) the execution by such additional Partner of any other writing evidencing the intent of such person to become a substitute or additional Limited Partner and to be bound by the terms of this Agreement and such writing being accepted by the General Partner on behalf of the Partnership. In addition, each additional Partner shall sign a counterpart copy of the Trust Agreement or any other writing evidencing the intent of such person to become a party to the Trust Agreement.

  • Additional Facilities If any structural additions or change in use shall be made to the buildings or other improvements included in the Project Facility subsequent to the date hereof (other than the initial construction of the Building contemplated by the Project), or if any additional buildings or improvements shall be constructed on the Land other than the Building (such change of use, new structures, structural additions, buildings and improvements being referred to hereinafter as “Additional Facilities”), the Obligor agrees that its PILOT Obligations hereunder shall be increased by an amount, as determined by the Agency or a tax assessor selected by the Agency, equal to the increased tax payments, if any, that would have been payable on such increase if this Agreement were not in effect. Nothing herein shall constitute the Agency’s consent to the construction of any such additions or additional buildings or improvements or to such change of use.