Encumbrances on Real Property Sample Clauses

The "Encumbrances on Real Property" clause defines the restrictions, claims, or liabilities that may affect the title or use of a property. It typically requires the seller to disclose any mortgages, liens, easements, or other legal rights held by third parties that could impact the buyer’s ownership or intended use of the property. By clearly identifying these encumbrances, the clause ensures transparency and helps prevent future disputes or surprises regarding the property’s legal status.
Encumbrances on Real Property. Schedule 6.20 lists all mortgages, deeds of trust, reciprocal easement agreements and other operating agreements in respect of the Real Property or to which the Company is a party. All mortgages, deeds of trust, reciprocal easement agreements and operating agreements in respect of Real Property to which the Company is a party are in full force and effect and have not been amended or otherwise modified. The Company has received no written notice of default under any such mortgage, deed of trust, reciprocal easement agreement or operating agreement that remains uncured. To the knowledge of the Company and Sellers, all buildings, plants and structures owned by the Company lie wholly within the boundaries of the Real Property and do not encroach upon the property of, or otherwise conflict with the property rights of, any other Person. To the knowledge of the Company and Sellers, there are no outstanding options to lease, options to purchase, rights of first refusal or other rights with respect to all or any portion of the Real Property, in favor of Sellers or any third party, other than as disclosed on Schedule 6.20.
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Encumbrances on Real Property. Schedule 6.20 lists all mortgages, deeds of trust, reciprocal easement agreements and other operating agreements in respect of the Real Property of which the Company is an owner or to which the Company is a party. All mortgages, deeds of trust, reciprocal easement agreements and operating agreements in respect of Real Property to which the Company is an owner or lessee are in full force and effect and have not been amended or otherwise modified. The Company has received no written notice of default under any such mortgage, deed of trust, reciprocal easement agreement or operating agreement that remains uncured. To the Knowledge of the Company and Sellers, all buildings, plants and structures owned by the Company lie wholly within the boundaries of the Real Property or do not encroach upon the property of, or otherwise conflict with the property rights of, any other Person. With respect to Real Property owned or leased by the Company, there are no outstanding options to lease, options to purchase, rights of first refusal or other rights with respect to all or any portion of the Real Property, in favor of Sellers or any third party, other than as disclosed on Schedule 6.20.
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Encumbrances on Real Property 
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Related to Encumbrances on Real Property

  • 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.

  • Taxes; Encumbrances At its option, the Collateral Agent may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Collateral and not permitted pursuant to Section 6.02 of the Credit Agreement, and may pay for the maintenance and preservation of the Collateral to the extent any Grantor fails to do so as required by the Credit Agreement or this Agreement, and each Grantor jointly and severally agrees to reimburse the Collateral Agent on demand for any payment made or any expense incurred by the Collateral Agent pursuant to the foregoing authorization; provided, however, that nothing in this Section 4.06 shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform, any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, liens, security interests or other encumbrances and maintenance as set forth herein or in the other Loan Documents.

  • Permitted Encumbrances The term “Permitted Encumbrances” shall mean:

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

  • Title; Encumbrances Is the Property sold subject to any Encumbrances? No Yes, listed below: ■ WARNING TO SELLER: You are required to disclose all Title Encumbrances which will remain after settlement (for example, easements on your title and statutory easements for sewerage and drainage which may not appear on a title search). Failure to disclose these may entitle the Buyer to terminate the contract or to compensation. It is NOT sufficient to state "refer to title", "search will reveal", or similar. TENANTS NAME: ■ If the property is sold with vacant possession from settlement, insert 'Nil'. Otherwise complete details from Residential Tenancy Agreement. TERM AND OPTIONS: STARTING DATE OF TERM: ENDING DATE OF TERM: RENT: BOND: $ $ PROPERTY MANAGER: ADDRESS: SUBURB: STATE: POSTCODE: PHONE: FAX: MOBILE: EMAIL: