DELIVERY OF POSSESSION OF THE PROPERTY Clause Samples

The 'Delivery of Possession of the Property' clause defines when and how the buyer will take physical control of the property from the seller. Typically, this clause specifies the exact date and conditions under which possession is transferred, such as upon closing or after certain obligations are met, and may address issues like the removal of the seller’s belongings or the property being in a specified condition. Its core function is to ensure both parties have a clear, mutual understanding of when the buyer can occupy the property, thereby preventing disputes or misunderstandings regarding access and use.
DELIVERY OF POSSESSION OF THE PROPERTY. 5.1 On the Date of Delivery of Possession, the Lessor shall make the Object of the Lease and the Attached Areas available to the Lessee whereby the external structure of the building shall be in place or after the Adjustment Works have been performed by the Lessee (as the case may be), pursuant to the plans, specification and sketch of the Object of the Lease attached hereto. Possession shall only be delivered after the Lessor has completed the performance of the infrastructure works, which it has undertaken to perform, whereby the electricity, water and sewage outlets shall have been connected to the Object of the Lease. The Lessee shall be responsible for arranging the connections of the aforementioned infrastructures to the Object of the Lease (i.e. engaging with the relevant authorities and paying for meters inside the Object of the Lease only). 5.2 For the avoidance of doubt it is hereby emphasized that subject to the execution of the Adjustment Works, the Lessor shall not be required to perform any work and/or modification and/or improvement whatsoever in the Object of the Lease, in addition to its undertakings in the plans and the specification. 5.3 The Lessor undertakes to complete construction of the Object of the Lease prior to the Date of Delivery of Possession in accordance with the following schedule: 5.3.1 Completion of the shell of the Object of the Lease – by January 30, 2008. 5.3.2 Completion of the external structure of the Object of the Lease – by March 30, 2008. 5.3.3 Completion of the public areas on the floors of the Object of the Lease and provision of a partial occupation form ("Form 4") with respect to the Object of the Lease only – by August 31, 2008. Notwithstanding any other provision herein, the parties agree that if Form 4 is not provided with respect to the Object of the Lease by March 1, 2009, the Lessee shall be entitled to cancel this Lease by notice in writing to the Lessor and the Lessor shall not have any demand and/or claim in connection therewith. 5.4 The Lessee confirms that it is aware that the construction works in the building where the Object of the Lease is situated shall continue even after the delivery of possession to it and even after commencement of the actual operation of the Object of the Lease. The Lessee shall have no demand and/or claim and/or complaint in connection therewith, except in the event that the performance of such works shall cause any direct physical damage whatsoever. The Lessor undertake...
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DELIVERY OF POSSESSION OF THE PROPERTY. 13.1 As is Where is
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Related to DELIVERY OF POSSESSION OF THE PROPERTY

  • Delivery of Possession Landlord shall be deemed to have delivered possession of the Premises to Tenant on the Commencement Date, as it may be adjusted pursuant to the Workletter. Landlord shall construct or install in the Premises the improvements to be constructed or installed by Landlord according to the Workletter. If no Workletter is attached to this Lease, it shall be deemed that Landlord delivered to Tenant possession of the Premises "as is" in its present condition on the Commencement Date. Tenant acknowledges that neither Landlord nor its agents or employees have made any representations or warranties as to the suitability or fitness of the Premises for the conduct of Tenant's business or for any other purpose, nor has Landlord or its agents or employees agreed to undertake any alterations or construct any Tenant improvements to the Premises except as expressly provided in this Lease and the Workletter. If for any reason Landlord cannot deliver possession of the Premises to Tenant on the Commencement Date, this Lease will not be void or voidable, Landlord will not be liable to Tenant for any resulting loss or damage and the Term of this Lease shall not be extended by a delayed delivery of possession. The preceding sentence notwithstanding, if Landlord fails to deliver possession to Tenant within sixty (60) days after the Commencement Date for any reason other than a Delay Caused by Tenant, as defined in the Workletter, Tenant, as its sole remedy, shall have the right to terminate this Lease and receive a refund of all prepaid Rent and Security Deposits provided Tenant gives written notice of termination to Landlord within three (3) days after that date. Tenant will execute the Commencement Date Certificate attached to this Lease as Exhibit E, appropriately completed, within fifteen (15) days of Landlord's request.

  • Possession of the Property The Parties hereby agree that the exclusive possession of the Property shall be delivered by the Seller to the Buyer on

  • NON-DELIVERY OF POSSESSION In the event Landlord cannot deliver possession of the Premises to Tenant upon the commencement of the Lease term, through no fault of Landlord or its agents, then Landlord or its agents shall have no liability, but the rental herein provided shall ▇▇▇▇▇ until possession is given. Landlord or its agents shall have thirty (30) days in which to give possession, and if possession is tendered within such time, Tenant agrees to accept the demised Premises and pay the rental herein provided from that date. In the event possession cannot be delivered within such time, through no fault of Landlord or its agents, then this Agreement and all rights hereunder shall terminate.

  • Delivery of the Property The Fund will deliver or arrange for delivery to PFPC Trust, all the Property owned by the Portfolios, including cash received as a result of the distribution of Shares, during the term of this Agreement. PFPC Trust will not be responsible for such property until actual receipt.

  • Condition of the Property All bidders shall be deemed to have carried out all investigations and examinations of the Property and the title particulars at their own costs and expenses and upon being successful, accept the property in the state and condition in which the Property is at the date of the auction sale.