Ownership of the Properties. Both parties hereby acknowledge that the MINORITY PARTNER is the sole owner of the PROPERTIES and will remain as such until termination of this Agreement, unless the MINORITY PARTNER decides to sell them to the OPERATING PARTNER that shall have the first right of refusal to buy the PROPERTIES. The MINORITY PARTNER could sell the PROPERTIES to a third party, only if the OPERATING PARTNER grants its consent to.
Appears in 2 contracts
Sources: Joint Venture Agreement (Tara Gold Resources Corp.), Joint Venture Agreement (American Stellar Energy Inc.)