Donation of the Property Clause Samples

Donation of the Property. On or before the Closing Date, as hereinafter defined, Donor shall donate the Property to Donee and Donee shall accept such donation of the Property, all upon the terms and conditions set forth herein, together with all the rights and appurtenances pertaining thereto, including any right, title and interest of Donor in and to adjacent streets, roads, alleys and rights-of-way; provided, however, that Donee, its successors and/or assigns, shall maintain the existing stormwater pond (the “Pond”) on the Property and allow Donor to discharge runoff from the property immediately adjacent to the Property (the “Adjacent Property”), as more particularly described in Exhibit “B” attached hereto and incorporated herein, into the Pond in an amount comparable to that discharged from the Adjacent Property into the Pond prior to the transfer (the “Restriction”), which amount of discharge from the Adjacent Property shall be determined by Donee, subject to concurrence and agreement by the Donor, both using their good faith efforts. In the event that the Property is no longer used by Donee, its successors and/or assigns in accordance with the Restriction, the Property shall upon ▇▇▇▇▇’s request revert back to Donor. The Property shall be conveyed to Donee free from all mortgages, deeds of trust, liens, security interests and other financial encumbrances.
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Donation of the Property. Upon the terms, covenants and conditions herein set forth, ▇▇▇▇▇ agrees to donate to Donee the Property and all improvements located thereon, and ▇▇▇▇▇ agrees to accept the donation of the Property from Donor.
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Donation of the Property. Upon the terms, covenants, and conditions herein set forth, City agrees to donate to County the “Property” and County agrees to accept the donation of the “Property” from City.
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Donation of the Property. The parties intend for the transfer of the Property to qualify as a donation by ▇▇▇▇▇▇▇▇▇ to the County, and ▇▇▇▇▇▇▇▇▇ shall receive no consideration in the form of money or property. Notwithstanding the foregoing, the parties hereby expressly agree that the value of the Property for federal and state tax purposes and financial accounting purposes shall be determined by an appraisal to be performed by a qualified appraiser selected by the County and approved by ▇▇▇▇▇▇▇▇▇ (the “Appraiser”), with such approval not to be unreasonably withheld or delayed. The County shall be responsible for and shall pay all costs of obtaining the appraisal and shall provide a copy to ▇▇▇▇▇▇▇▇▇ at no cost or expense.
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Donation of the Property 
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Related to Donation of the Property

  • Operation of the Property Between June 1, 1998 and the Closing Date, Seller shall (a) lease, operate, manage and enter into contracts with respect to the Property, in the same manner done by Seller prior to the date hereof (provided, however, that without the prior consent of Purchaser, which as to (i) and (ii) shall not be unreasonably delayed, conditioned or withheld, (i) Seller shall not enter into any Service Contract that cannot be terminated with thirty (30) days notice or materially modify any existing Service Contracts to be assumed by Purchaser at Closing, and (ii) after June 1, 1998, Seller shall not materially modify or terminate any existing Tenant Lease or grant any material consents under any existing Tenant Lease (except as otherwise required pursuant to the terms and conditions of such Tenant Lease), or enter into any new Tenant Lease, and (iii) Seller shall not apply any then unapplied Deposits (as reflected on the Rent Roll delivered by Seller to Purchaser pursuant to Schedule 5.3(vii) hereof) under Tenant Leases); and (b) advise Purchaser of the commencement of any litigation, condemnation or other judicial or administrative proceedings affecting the Property of which Seller has current actual knowledge. Notwithstanding anything to the contrary set forth in this Contract, Purchaser acknowledges that after June 1, 1998 and prior to Closing, Seller will enter into contracts for the completion of Tenant improvements under Tenant Leases entered into after June 1, 1998 pursuant to the terms of Section 12.1 hereof (collectively, the "Tenant Finish Contracts"). Purchaser and Seller agree that at Closing, Purchaser shall assume the obligations of Seller under all such Tenant Finish Contracts including, without limitation, the obligations to pay any costs and expenses charged with respect to construction of improvements in the space subject to such Tenant Leases. At Closing, Purchaser shall execute and deliver to the Seller an Assignment, Assumption and Indemnity Agreement in the form attached hereto as Exhibit H and made a part hereof for all purposes.

  • 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.

  • 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

  • DESCRIPTION OF THE PROPERTY 13.1 The Property as referred to in the Proclamation of Sale shall be deemed to have been correctly and sufficiently described. 13.2 All intended bidders including the Purchaser shall be deemed to have sought independent legal advice, made necessary enquiries, searches and inspection of the Property and is satisfied with the identity, description, state and condition of the Property. 13.3 In the event of any error, misstatement, omission and/or misdescription of any kind relating to the Property in the Proclamation of Sale or any other documents, such error, misstatement, omission and/or misdescription shall not in any manner annul the sale, nor shall there be any adjustment of the Purchase Price nor shall compensation be allowed nor shall the Bank be open to any liability of any form. 13.4 If the land or floor area of the property is found to exceed that as described and additional payment is imposed for the excess area by the Developer and/or relevant authorities, then such additional payment shall be solely and absolutely borne and paid by the Purchaser 13.5 If the land or floor area of the property is found to be less that as described, any claim for the reduced area shall be undertaken solely by the Purchaser against the Developer and/or such party and neither the Assignee/ Bank , the Assignee/ Bank’s solicitors nor the Auctioneer shall in any way responsible or liable for such claim. The auction sale herein shall not be annulled and there shall not be any adjustment of the Purchase Price as a result of such shortfall in the area of the Property.

  • Sale of the Property Any sale of the Property shall not affect this Lease or any of your obligations, but upon such sale we will be released from all of our obligations under this Lease and the new owner of the Property will be responsible for the performance of the duties of "Landlord" from and after the date of such sale.