Recapture Agreements Sample Clauses
A Recapture Agreement is a contractual provision that allows one party, typically the original owner or grantor, to reclaim certain rights or assets under specified conditions. In practice, this might apply in real estate or intellectual property contexts, where the original owner can retake possession or control if the other party fails to meet agreed-upon obligations, such as development milestones or payment schedules. The core function of a Recapture Agreement is to protect the original party’s interests by providing a mechanism to recover assets or rights if the counterparty does not fulfill their commitments, thereby mitigating risk and ensuring compliance.
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Recapture Agreements. Buyer agrees to enter into recapture agreement(s) in the form attached hereto, agreeing to repay a portion of Buyer’s Individual Grant(s) upon a sale, conveyance or transfer of the Buyer’s Residence other than by will or by operation of law upon the death of a joint tenant owner, and otherwise stated in such recapture agreement(s). The recapture agreement(s) shall be recorded in the Office of the Recorder of Deeds of Champaign County. Terms of the recapture agreement(s) shall survive closing of this transaction.
Recapture Agreements. There are no obligations in connection with the Land of any so-called “recapture agreement” involving refund for sewer extension, oversizing utility, lighting or like expense or charge for work or services done upon or relating to the Real Property. No portion of the Property is subject to or is affected by any special assessment or special taxing district.
Recapture Agreements. As of the date of this Agreement, except for the Development Agreement by and between the Seller and the City of Owatonna (the “City”), Minnesota (as amended, modified, or supplemented, the “Development Agreement”) and the Tri-Party Agreement (the “Tri-Party Agreement”) by and between the Seller, the City and the Purchaser, in relation to the Property, the Seller has not entered into any recapture agreement or other agreement providing for the payment to any governmental authority or to the owner or developer of another parcel of property any sum of money as compensation for the development of the Property or infrastructure improvements to be made either on or off of the Property (collectively, “Recapture Agreements”).
Recapture Agreements. There are no obligations in connection with the Real Property for any so called "recapture agreements" involving refund, participation or payment of monies, nor any charge for work or services done, or to be done, upon or relating to or benefitting, whether now or in the future, the Real Property.
Recapture Agreements. To the extent that Purchaser would be required to bear any expense (other than de minimus expenses) in conjunction with any Recapture Agreement that may be entered into by Seller, Seller hereby covenants that it shall not enter into any such agreement except as may be reasonably necessary in conjunction with the obligations of the Seller pursuant to the Lease, and as may be approved in advance by Purchaser, such approval not to be unreasonably withheld or delayed.
Recapture Agreements. To Seller's actual knowledge, there are no obligations in connection with the Project or any so called "recapture agreement" involving refund for sewer extension, oversizing utility lines, lighting or like expense or charge for work or services done upon or relating to the Project which will bind Purchaser or the Project from and after the Closing Date.
Recapture Agreements. To Seller's knowledge, as of the Effective Date and except as set forth on Schedule 5.14, there are no obligations affecting the Purchased Assets involving a refund for sewer extension, oversizing utility lines or lighting expenses or charges for similar work or services done upon or relating to the Purchased Assets (so called "recapture agreements") which will bind Buyer or the Purchased Assets after the Closing Date.
Recapture Agreements. To the best of Seller's and Owner's knowledge, there are no obligations in connection with the Development Rights or the Real Property involving a refund for sewer extension, oversizing utility lines, lighting or like expense or charge for work or services done upon or relating to the Real Property (so called "recapture agreements") which will bind Purchaser or the Real Property after the Closing Date or the Date of Conveyance of title to any parcel comprising the Real Property. Moreover, the Real Property is not the Subject of, or entitled to, any real estate tax exemption or abatement or other tax holiday of any kind.
Recapture Agreements. If, pursuant to the terms of this Agreement, the OWNERS AND DEVELOPERS install improvements, including but not limited to water distribution system improvements, sanitary sewer collection system improvements, storm sewer system improvements, roadway improvements, or other improvements (hereinafter “Improvements”) which the OWNERS AND DEVELOPERS and the CITY reasonably determine will benefit properties other than the SUBJECT PROPERTY, the OWNERS AND DEVELOPERS may submit a request to the City Engineer for the City to enter into a recapture agreement (“Recapture Agreement”). The OWNERS AND DEVELOPERS’ request must be accompanied by a draft of the proposed Recapture Agreement and documentation, to the satisfaction of the City Engineer, clearly demonstrating the “as built” costs of the Improvements for which recapture is sought. The proposed Recapture Agreement shall identify the benefitting properties and recapture amounts, which shall be subject to approval of the City Engineer. Subject to approval of the proposed Recapture Agreement by the City Engineer, approval of the form of the Recapture Agreement by the City Attorney, and any notice to be given to the benefiting property owners, the matter shall be scheduled for consideration by the Naperville City Council. If an ordinance approving the Recapture Agreement is passed by City Council, the Recapture Agreement shall be recorded against the title of the benefiting properties identified in the Recapture Agreement.
Recapture Agreements