Property Transfer Clause Samples

Property Transfer. In the event that DOE determines to enter into any contract for the sale or transfer of any of the SRS, the DOE shall comply with the requirements of Section 120(h) of CERCLA, 42 U.S.C. § 9620(h), in effectuating that sale or transfer, including all notice requirements. In addition, the DOE shall include notice of this Agreement in any document transferring ownership or operation of the SRS to any subsequent owner and/or operator of any portion of the SRS and shall notify EPA and SCDHEC of any such sale or transfer at lease ninety (90) days prior to such sale or transfer. No change in ownership of the SRS or any portion thereof or notice pursuant to ▇▇▇▇▇▇▇ ▇▇▇(▇)(▇)(▇) ▇▇ ▇▇▇▇▇▇, ▇▇ ▇.▇.▇. § ▇▇▇▇(▇)(▇)(▇), shall relieve the DOE of its obligation to perform pursuant to this Agreement. No change of ownership of the SRS or any portion thereof shall be consummated by the DOE without provision for continued maintenance of any containment system, treatment system, or other response action(s) installed or implemented pursuant to this Agreement. This provision does not relieve the DOE of its obligations under 40 CFR Part 270 or 25 S.C. Code ▇▇▇. R. 61-79, Section 270.

Property Transfer. A. To the extent that the Sponsor provides any material associated with the Project, and to the extent that performance of the requirements of this Project results in the creation of assets constructed, emplaced, or installed by the Sponsor, all such material (buildings, equipment, systems, components, cable enclosures, etc.) and assets will be transferred to and become the property of the FAA upon project completion. For purposes of this Article 6, "project completion" means that FAA has inspected the specific equipment or construction, and has accepted it as substantially complete and ready for use. The creation of an additional agreement will not be required, unless such other agreement is required by the laws of the state in which the subject property is located. The Sponsor and FAA acknowledge by execution of this agreement the FAA will accept the fundamental responsibilities of ownership by assuming all operations and maintenance requirements for all property transferred to the FAA. The transfer of asset(s) will occur on the date the asset(s) is placed in service. It has been determined the subject transfer(s) to FAA is in the best interest of both the Sponsor and FAA. B. In order to ensure that the assets and materials subject to this Article remain fully accounted-for and operational, the Sponsor will provide the FAA any additional documents and publications that will enhance the FAA’s ability to manage, maintain and track the assets being transferred. Examples may include, but are not limited to, operator manuals, maintenance publications, warranties, inspection reports, etc. These documents will be considered required hand-off items upon Project completion.

Property Transfer. Mortgagor transfers all or a substantial part of ▇▇▇▇▇▇▇▇▇’s money or property. This condition of default, as it relates to the transfer of the Property, is subject to the restrictions contained in the DUE ON SALE section.

Property Transfer. In the event that Customer proposes to sell its real property to which District Water is made available under this Agreement, Customer shall notify District in writing in advance of the close of escrow with sufficient time for District to consider the proposed transfer. If (a) District is timely notified of the proposed transfer; (b) Customer is not then in default under this Agreement at the time of such notification or at any time up until the close of escrow; and (c) the proposed new owner executes a new agreement with District in substantially the same form as this Agreement, or if specified by District, executes District's then-current uniform water supply agreement, on or before the close of escrow; then District shall approve the application of the proposed new owner and execute the new agreement with such owner. Upon District's execution of the replacement agreement, this Agreement shall be terminated.

Property Transfer. In the event that DOE determines to enter into any contract for the sale or transfer of any of the Site, the DOE shall comply with the requirements of Section 120(h) of CERCLA, 42 U.S.C. § 9620(h), in effectuating that sale or transfer, including all notice requirements. In addition, the DOE shall include notice of this Agreement in any document transferring ownership or operation of the Site to any subsequent owner and/or operator of any portion of the Site and shall notify EPA and TDEC of any such sale or transfer at least ninety (90) days prior to such sale or transfer. No change in ownership of the Site or any portion thereof or notice pursuant to Section 120(h)(3)(B) of CERCLA, 42 U.S.C. § 9620(h)(3)(B), shall relieve the DOE of its obligation to perform pursuant to this Agreement. No change of ownership of the Site or any portion thereof shall be consummated by the DOE without provision for continued maintenance of any containment system, treatment system, or other response action(s) installed or implemented pursuant to this Agreement. This provision does not relieve the DOE of its obligations under 40 C.F.R. Part 270.

Property Transfer. If City conveys into private ownership a fee interest in the property that is the subject of this agreement, it will require as a condition of sale, and enforce: (a) that the purchaser record a declaration on the property incorporating the maintenance requirements of this agreement; and (b) that recordation occur either before any other encumbrance is recorded on the property or, if after, only as accompanied by a subordination and consent executed by the encumbrance holder ensuring that the declaration will run with the land in perpetuity. If City conveys into public ownership a fee interest in any property that has become subject to this agreement, it will require as a condition of the purchase and sale agreement that the purchaser accept an assignment of all obligations vested under this agreement. This Agreement may be amended only in a writing signed by the parties. The recitals above are incorporated as a part of this agreement.

Property Transfer. The City and/or RDA shall convey the Property to the Developer no later than February 1, 2023 through the following process: a) The City and/or RDA shall contribute the Property to Developer or, upon Developer’s request, to Developer’s Affiliate, free and clear of liens and encumbrances that materially prohibit development of the Property as herein proposed, via warranty deed, in exchange for an interest in transferee with a percentage interest and capital account commensurate with its proportionate value, as agreed by the parties, and shall provide an owner's policy of title insurance at the time of conveyance. b) The City and/or RDA shall prepare and obtain approvals for a CSM, for which desired parcel boundaries are herein attached on the Preliminary Concept Plan (EXHIBIT C), which shall include: (I) The creation of a new right-of-way and/or City and/or RDA-owned parcel that extends fifty (50) feet in width from the existing eastern Fox River shoreline of ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇ Street, and ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ (Tax Parcels 3-554-A, 3-556, 3-551) and the existing southern Fox River shoreline of the ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ (Tax Parcel 3-551); and (II) The creation of a new right-of-way and/or City and/or RDA-owned parcel, south of the existing ▇▇▇▇▇ Street right-of-way, which extends fifty (50) feet from the western boundary of ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ (Tax Parcel 3-551) to the eastern terminus of the existing ▇▇▇▇▇ Street right of way; and (III) The City and/or RDA will, as required, grant the Developer easements to permit the construction, operation, and maintenance of a permanent patio, landscaping, berms and/or retaining walls as required by federal, state, and local floodplain regulations within the new right-of-way and/or City and/or RDA-owned parcel(s) described above in (1) and (II). c) Upon recording of such CSM with the Brown County Register of Deeds, all references to Property shall include all such new parcels created through the actions of this Section III. B. 1. d) The RDA shall have a right to put its interest in the Developer or, upon Developer’s request, to Developer’s Affiliate, (as referenced in section III.B.1.a)) to an Affiliate of Developer (as specified by Developer) for the purchase price of $1,000 at any time after the aggregate assessed value of the Property is equal to or greater than $18,750,000. e)

Property Transfer. I transfer all or a substantial part of my money or property.

Property Transfer. A. To the extent that the Sponsor provides any material associated with the Project, and to the extent that performance of the requirements of this Project results in the creation of assets constructed, emplaced, or installed by the Sponsor, all such material (buildings, equipment, systems, components, cable enclosures, etc.) and assets will become the property of the FAA upon project completion. For purposes of this Article 6, "project completion" means that FAA has inspected the specific equipment or construction, and has accepted it as substantially complete and ready for use. The creation of an additional agreement will not be required, unless such other agreement is required by the laws of the state in which the subject property is located. The Sponsor and FAA acknowledge that the FAA has accepted the fundamental responsibilities of ownership by assuming all operations and maintenance requirements for all property transferred to the FAA, and that the subject transfer to FAA is in the best interest of both the Sponsor and FAA. In order to ensure that both FAA and the Sponsor have complete and accurate documentation of all property transferred to FAA and subject to this Agreement, the transfer of ownership of such real and personal property to the FAA shall be supported and memorialized by FAA’s and the Sponsor’s execution of Attachment A (Sponsor Cost and Transfer Certification Form) within ninety (90) calendar days from the date of project completion. The Sponsor will provide a line item property listing in tabular format including costs, as set forth in Attachment A, consisting of all real and personal property that is included in the Project. The cost data for each item will be supported by documentary evidence of reasonable cost and ownership, including, for example, the original invoice or billing statement, ▇▇▇▇ of lading, a copy of the construction contract, and verification of the contract acceptance date. At FAA’s request, all supporting cost documentation shall be made available by the Sponsor within 5 workdays of the request. The FAA shall retain the original copy of Attachment A. A complete copy of Attachment A will be provided to the sponsor upon request. B. In order to ensure that the assets and materials subject to this Article remain fully accounted-for and operational, the Sponsor will provide the FAA any additional documents and publications that will enhance the FAA’s ability to manage, maintain and track the assets being transferred...