Conveyance of the Project Sample Clauses
The "Conveyance of the Project" clause defines the process by which ownership or rights to a project are formally transferred from one party to another. Typically, this clause outlines the conditions that must be met before conveyance occurs, such as completion of construction, satisfaction of payment obligations, or receipt of regulatory approvals. It may also specify the documentation required to effect the transfer, such as deeds or bills of sale. The core function of this clause is to ensure a clear and legally binding transfer of the project, thereby preventing disputes over ownership and clarifying the responsibilities of each party at the point of conveyance.
Conveyance of the Project. At the closing of the purchase of the entire or all remaining portions of the Project pursuant to this Article, the City will upon receipt of the purchase price deliver to the Company the following:
(a) A release from the Trustee of the Project from the lien and/or security interest of the Indenture and this Lease and appropriate termination of financing statements as required under the Uniform Commercial Code; and
(b) Documents, including without limitation a special warranty deed as to the Project Site, conveying to the Company legal title to the Project, as it then exists, in recordable form, subject to the following: (i) those liens and encumbrances, if any, to which title to the Project was subject when conveyed to the City; (ii) those liens and encumbrances created by the Company or to the creation or suffering of which the Company consented; (iii) those liens and encumbrances resulting from the failure of the Company to perform or observe any of the agreements on its part contained in this Lease; (iv) Permitted Encumbrances other than the Indenture, this Lease and the Performance Agreement; and (v) if the Project or any part thereof is being condemned, the rights and title of any condemning authority.
Conveyance of the Project. At the closing of the purchase of the Project pursuant to this Article, the City will upon receipt of the purchase price deliver to the Developer the following:
(a) a release from the Trustee of the Project from the lien and/or security interest of the Indenture and this Lease and appropriate termination of financing statements as required under the Uniform Commercial Code; and
(b) such other documents as reasonably necessary to effectuate the conveyance of the Project, including without limitation a termination of the Base Lease and this Lease.
Conveyance of the Project. At the closing of the purchase of the Project pursuant to this Article, the Issuer will upon receipt of the purchase price deliver to the Company the following:
(a) If the Indenture shall not at the time have been satisfied in full, a release from the Trustee of the Project from the lien and/or security interest of the Indenture.
(b) Documents terminating the Base Lease Agreement and Lease Agreement. The Authorized Issuer Representative is authorized to execute any and all documents necessary under this Section without any further action from the governing body of the Issuer.
Conveyance of the Project. At the closing of the purchase of the Project pursuant to this Article, the City will upon receipt of the purchase price deliver to the Corporation the following:
(a) If the Indenture shall not at the time have been satisfied in full, a release from the Trustee of the Project from the lien and/or security interest of the Indenture.
(b) Documents conveying to the Corporation legal title to the Project, as it then exists, subject to the following: (1) those liens and encumbrances, if any, to which title to the Project was subject when conveyed to the City; (2) those liens and encumbrances created by the Corporation or to the creation or suffering of which the Corporation consented; (3) those liens and encumbrances resulting from the failure of the Corporation to perform or observe any of the agreement on its part contained in this Lease; (4) Permitted Encumbrances other than the Indenture and this Lease; and (5) if the Project or any part thereof is being condemned, the rights and title of any condemning authority.
Conveyance of the Project. At the closing of the purchase of the Project pursuant to this Article, the City will upon receipt of the purchase price deliver to Valent the following:
(a) a release from the Trustee of the Project from the lien and/or security interest of the Indenture, the Lease and this Sublease, and appropriate termination of financing statements as required under the Uniform Commercial Code; and
(b) documents, including without limitation a special warranty deed, conveying to Valent legal title to the Project, as it then exists, in recordable form, subject to the following: (1) those liens and encumbrances, if any, to which title to the Project was subject when conveyed to the City; (2) those liens and encumbrances created by WCIC or Valent, or to the creation or suffering of which WCIC or Valent consented; (3) those liens and encumbrances resulting from the failure of WCIC or Valent to perform or observe any of the agreements on its part contained in the Lease or this Sublease; (4) Permitted Encumbrances other than the Indenture, the Lease and this Sublease; and (5) if the Project or any part thereof is being condemned, the rights and title of any condemning authority.
Conveyance of the Project. The Authority’s right and interest in and to the Project shall be transferred, conveyed and assigned by the Authority to the Town:
(a) Upon payment by the Town of the then applicable Purchase Option Price and upon giving not less than thirty (30) days prior written notice to the Authority; or
(b) Upon payment by the Town of all Base Rentals and Additional Rentals required to be paid under this Lease during the Original Term and each of the Renewal Terms; or
(c) Upon the discharge of the lien of the Master Resolution under Article X thereof. The Authority agrees to execute such documents and instruments as shall be necessary to effect a release of the security interest granted by said Master Resolution or the Security Documents upon the payment in full of the Bonds.
Conveyance of the Project. Section 12.1. Conveyance of the Project 26 Section 12.2. Conveyance on Purchase of Project 26 Section 12.3. Relative Position of Option and Master Resolution 27
Conveyance of the Project. At the closing of the purchase of the Project pursuant to this Article, the City will deliver to the Company upon receipt of the purchase price a special warranty deed conveying to the Company legal title to the Project, as it then exists, subject to the following: (i) those liens and encumbrances, if any, to which title to the Project was subject when conveyed to the City; (ii) those liens and encumbrances created by the Company or to the creation or suffering of which the Company has consented to in writing; (iii) those liens and encumbrances resulting from the failure of the Company to perform or observe any of the agreements on their part contained in this Lease; and (iv) if the Project is being condemned, the rights and title of any condemning authority.
Conveyance of the Project. The Corporation shall transfer and convey to the State the Project, in the manner provided in paragraph (gg) of this IP Agreement, provided, however, that prior to such transfer and conveyance, either:
(i) The State shall have paid in full all Base Payments and Additional Payments required hereunder, in which case, the term of this IP Agreement shall have expired; or
(ii) The Indenture shall have been discharged as provided in Article VI of the Indenture.
Conveyance of the Project. From time to time as legally appropriate to effect a transfer to the District of a fee or non-exclusive easement estate in land owned, acquired or otherwise controlled by Developer (as the case may be) and relating to the Project, and to the extent permitted by applicable laws and regulations, the Developer shall convey to the District such legal interest in and to the Project, subject to non-exclusive easements as reasonably requested by Developer, free and clear of all liens and encumbrances except matters of record and current taxes. The Developer shall, at its expense, furnish the District an ownership and encumbrance report or other title evidence reasonably satisfactory to the District confirming that the Developer has fee simple title to those portions of the Project (if any) that are realty, free and clear of liens and encumbrances except matters of record and current taxes. The conveyances shall be made by special warranty deed or non-exclusive easement (as appropriate), in recordable form, or by appropriate dedications upon recorded subdivision plats for the portions of the Project which are realty and by absolute ▇▇▇▇ of sale or written assignment for those portions of the Project which are tangible or intangible personalty. All such instruments of conveyance or assignment shall be in a form reasonably acceptable to the District and the Developer, and shall be executed and delivered to the District from time to time hereafter as requested by the District.