Material Property Clause Samples
A Material Property clause defines the essential characteristics or qualities of goods, materials, or products that are required under a contract. It typically specifies the standards, specifications, or performance criteria that the supplied items must meet, such as durability, composition, or compliance with industry norms. By clearly outlining these requirements, the clause ensures that both parties have a mutual understanding of what constitutes acceptable materials, thereby reducing the risk of disputes over quality and ensuring that the delivered goods are fit for their intended purpose.
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Material Property. (i) The Material Property is accurately and fully disclosed in the Time of Sale Prospectus and the Prospectuses and no other property or assets are necessary for the conduct of the business of the Company and its subsidiaries as currently conducted. Other than the Material Property, as disclosed in the Time of Sale Prospectus and the Prospectuses, neither the Company nor any of its subsidiaries currently owns or leases any material real or immovable property, right, title or interest, or any material mining or mineral claims, mining leases, mining concessions, concessions, exploration licenses, exploitation licenses, prospecting permits, participating interests or other conventional property, proprietary or contractual interests or rights, or any other rights for the exploration, mining, development or processing activities in respect of the Material Property;
(ii) the Company and/or its subsidiaries are the absolute legal and beneficial owners of either mining leases, mining claims, mining concessions or participating interests or other conventional property, proprietary or contractual interests or rights (collectively, the “Mineral Rights”) in respect of the Material Property under valid, subsisting and enforceable title documents or other recognized and enforceable agreements or instruments, sufficient to permit the Company and its subsidiaries to access, explore for, mine, develop and process the mineral deposits relating thereto and to conduct all operations and production and processing activities thereon, free and clear of any Liens, other than those described in the Time of Sale Prospectus and the Prospectuses. All mining claims and mining leases owned by the Company are solely registered pursuant to the provisions of the Mining Act (Québec) and in the register of real rights of State resource development of the land register. All other material Mineral Rights have been validly located, registered and recorded in accordance with all Applicable Laws and are valid, subsisting and in good standing. Except as disclosed in the Time of Sale Prospectus and the Prospectuses, no material commission, royalty, license fee or similar payment to any person with respect to the Material Property is payable. There are no options or other participation interests or rights of preference relating to the Mineral Rights and all Mineral Rights have active status, except for eight claims which are suspended awaiting partial conversion to a mining lease, and neither the C...
Material Property. As of the Effective Date, Schedule 5.09 sets forth all the real property of the Loan Parties described in clause (i) of the definition of “Material Real Property” as of such date.
Material Property. (a) The Borrower shall not, nor shall it permit any Subsidiary to sell, transfer or otherwise dispose of any Material Property (whether pursuant to a sale, lease, license, transfer, investment, restricted payment, dividend or otherwise) to any Person that is either (x) a Subsidiary that is not a Loan Party or (y) an Affiliate of the Borrower (other than a Subsidiary), other than the grant of a non-exclusive license of intellectual property to any Subsidiary in the ordinary course of business for a bona fide business purpose.
(b) No Person that is either (x) a Subsidiary that is not a Loan Party or (y) an Affiliate of the Borrower (other than a Subsidiary) shall own or hold an exclusive license to any Material Property.
Material Property. (a) The Material Property is the only mineral property currently material to the Company.
(b) The Company holds either mining leases, mining claims, mineral claims, surface leases or exploration permits recognized in the jurisdiction in which the Material Property is located in respect of the ore bodies and minerals located in the Material Property as described in the Pricing Disclosure Package and the Prospectuses under valid, subsisting and enforceable title documents or other recognized and enforceable agreements or instruments, sufficient to permit the Company to explore the minerals relating thereto.
(c) All mining leases, mineral claims and surface leases relating to the Material Property in which the Company has an interest or right are valid and in good standing in accordance with all Applicable Laws.
(d) Except as disclosed in the Pricing Disclosure Package and the Prospectuses, the Company has all necessary surface rights, access rights and other necessary rights and interest relating to the Material Property granting the right and ability, as applicable, to explore and access minerals, ore and metals for development purposes as described in the Pricing Disclosure Package and the Prospectuses, subject to the Company’s ability to maintain the Permits (as defined below), with only such exceptions as do not materially interfere with the use made by the Company of the rights or interests in the Material Property.
(e) Except as disclosed in the Pricing Disclosure Package and the Prospectuses, all assessments or other work required to be performed in relation to the material mineral claims of the Company in order to maintain their respective interests therein, if any, have been performed to date.
(f) Except as disclosed in the Pricing Disclosure Package and the Prospectuses, the Company does not have any responsibility or obligation to pay any commission, royalty, license, fee or similar payment to any person with respect to the property rights thereof, except where such fee or payment would not have a Material Adverse Effect, either individually or in the aggregate.
(g) There are no expropriations or similar proceedings or any material challenges to title or ownership, actual or threatened, of which the Company has received notice against any Material Property.
Material Property. The author remains the owner of the manuscript or other material possibly furnished to the publisher and on the basis of which the work shall be reproduced. As soon as the manufacture is finished and subject to an impossibility of technical nature, the publisher undertakes to hand over to the author the manuscript and other material that he possibly owes.
Material Property. (i) Except as described in or contemplated by the Disclosure Package and the Final Prospectus (exclusive of any amendment or supplement thereof), the ▇▇▇▇▇▇ Gold project in Alaska (the “Material Property”), as described in the Registration Statement, the Preliminary Prospectus and the Final Prospectus, is the only mineral project on properties that are material to the Company in which the Company or its subsidiaries have an interest.
(ii) The Company, directly or through its subsidiaries, holds an interest in fee or freehold title, mining leases, mining concessions, mining claims, exploration permits, prospecting permits, participant interests, conventional property agreements, or proprietary interests or rights, or other similar contractual rights recognized in the jurisdiction in which the Material Property is located, in respect of the ore bodies and minerals located on the Material Property in which the Company (through the applicable subsidiary) has an interest under valid, subsisting and enforceable title documents or other recognized and enforceable agreements, instruments, contracts, arrangements or understandings, sufficient to permit the Company (through the applicable subsidiary) to carry on its business as currently conducted, including the exploration for the minerals relating thereto, and all such material documents, agreements, instruments, contracts, arrangements or understandings in connection with the Material Property (“Material Property Agreements”) are valid and subsisting and enforceable in accordance with their terms, in each case except the failure to be so would not reasonably be expected to have a Material Adverse Effect.
(iii) All concessions, leases, property agreements and contracts, claims and permits relating to the Material Property in which the Company (through the applicable subsidiary) has an interest or right have been validly granted, located, approved, executed and/or recorded or filed in accordance with all applicable laws and are valid, subsisting and enforceable in all respects, in each case except where the failure to be so would not be reasonably expected to have a Material Adverse Effect.
(iv) Except as described in or contemplated by the Disclosure Package and the Final Prospectus (exclusive of any amendment or supplement thereof), the Company (through the applicable subsidiary) has, or reasonably anticipates receiving in due course, all necessary surface rights, access rights and other necessary rights and inte...
Material Property. Notwithstanding anything to the contrary in this Indenture, (a) neither Holdings nor the Issuer will, and the Issuer will not permit any of its Subsidiaries to, sell, transfer or otherwise dispose of any Material Property (whether pursuant to a sale, lease, license, transfer, investment, restricted payment, dividend or otherwise or relating to the exclusive rights thereto) to any Person that is either (x) a Subsidiary that is not a Guarantor or (y) an Affiliate of the Issuer that is not a Subsidiary, other than the grant of a non-exclusive license of intellectual property to any Subsidiary, on arm’s length terms, in the ordinary course of business and for a bona fide business purpose; and (b) no Person that is either (x) a Subsidiary that is not a Guarantor or (y) an Affiliate of the Issuer that is not a Subsidiary shall own or hold an exclusive license to any Material Property.
Material Property. Each Obligor will not, and will procure that each of its Subsidiaries will not, save with the express written consent of the Security Agent, exercise any of the powers of leasing or agreeing to lease vested in or conferred on mortgagors by common law or by statute (including Section 99 of the Law of Property Act 1925) or create or suffer to be created a tenancy of any Material Property or confer or permit to be conferred upon any person any contractual licence, right or interest to occupy or use the whole or any part of the Material Property or accept, agree to accept or permit the acceptance of a surrender of any lease, underlease, tenancy, licence or agreement relating thereto or exercise any power to determine or extend any of the same, save where any such tenancy or lease is being granted pursuant to any statutory rights of renewal with which such Obligor or Subsidiary is obliged by law to comply.
Material Property. The title to each Material Property situate in England is vested in one of the Companies and is either registered at H.M. Land Registry with absolute title or if unregistered and freehold commences with a good root of title and whether unregistered freehold or leasehold is one which can be established in accordance with section 44 of the Law of Property Act 1925 and for any Material Property situated in ▇▇▇▇▇▇▇d one of the Companies is the heritable proprietor (as regards any freehold Property in respect of which title is recorded in the Register of Sasines) or the registered proprietor (as regards any freehold Property in respect of which title is registered in the Land Register of Scotland) or is the proprietor of the tenants' interest under the Lease or is intended to be so under the proposed Lease where the Lease is still in the course of execution (as regards any leasehold Property). As regards any freehold Property, the Sellers are not aware of any reason why Land Certificates containing no exclusion of indemnity under Section 12(2) of the Land Registration (Scotland) Act 1979 should not be issued in favour of CCSB.
Material Property. The Company’s Queensway Project located in Newfoundland, Canada (the “Queensway Gold Project”) is the only property that is material to the Company.