Future Owners Sample Clauses

The "Future Owners" clause establishes how rights, obligations, or restrictions under an agreement will apply to individuals or entities that acquire ownership of the relevant property or assets in the future. Typically, this clause ensures that any subsequent owners are bound by the same terms as the original parties, such as compliance with use restrictions, maintenance obligations, or payment of fees. Its core practical function is to maintain continuity and enforceability of the agreement across changes in ownership, preventing loopholes or disputes when property is transferred.
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Future Owners. This Agreement is enforceable against and binding upon any and all present and future owners of the Condominium Interests including any mortgagee which, under applicable law, may become owner of a Condominium Interest.
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Future Owners. In the event that the Property is sold, transferred, or leased, Developer, or a subsequent owner of the Property, shall provide information to the new owner, operator, or lessee regarding proper inspection, maintenance, and repair of the Stormwater Management System. Said information shall accompany the document of conveyance and include Exhibits B and C and this Agreement.
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Future Owners. Successors in interest and future owners of the City Property desiring to use the Driveway for ingress and egress to and from the City Property, shall contribute a pro-rata share of fifty percent (50%) of the maintenance, repair and replacement cost of the Driveway. If the City Property is subdivided creating more than one (1) owner, then the owners of the City Property will divide the fifty percent (50%) share on a pro-rata basis based on acreage. Future owners of the City Property shall reimburse DSI for fifty percent (50%) of the maintenance costs within thirty (30) days of receipt of an invoice within reasonable backup information regarding such costs. i. For example, if the City Property is subdivided in the future, and a percentage is sold to a non-City entity, then that successor in interest would be responsible for paying the pro-rata share of 50% of the maintenance and/or replacement cost of the Driveway; said pro-rata share being computed as the percent of acreage owned divided by the total acreage of the City Property prior to subdivision.
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Future Owners. Legal Owner acknowledges and understands that the terms and conditions contained herein apply uniquely to the public right-of-way adjacent to the Benefitted Property at the above address as legally described in Exhibit A and it is the intent of Legal Owner and the Village to have the terms and conditions of this instrument run with the land and be binding on subsequent owners of the Benefitted Property or any portion thereof. This document shall be notarized and recorded with the ▇▇▇▇ County Recorder of Deeds. The undersigned Legal Owner certifies that they have the authority to bind Legal Owner.
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Related to Future Owners

  • Full Disclosure No written representation, warranty or other statement of Borrower in any certificate or written statement given to Bank, as of the date such representation, warranty, or other statement was made, taken together with all such written certificates and written statements given to Bank, contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements contained in the certificates or statements not misleading (it being recognized by Bank that the projections and forecasts provided by Borrower in good faith and based upon reasonable assumptions are not viewed as facts and that actual results during the period or periods covered by such projections and forecasts may differ from the projected or forecasted results).

  • Time Off for Union Activities The employer agrees to grant the necessary time off, without discrimination or loss of seniority rights and without pay, to any employee designated by the Union to attend a labor convention provided that there is two-week notice of any union convention. Due consideration shall be given to the number of personnel affected in order that there shall be no disruptions of employer's operations due to lack of available employees.