Relinquished Property Sample Clauses

The 'Relinquished Property' clause defines the specific property or asset that a party is transferring, selling, or giving up rights to, typically in the context of a transaction or exchange. This clause identifies the property by description, address, or other unique identifiers to ensure there is no ambiguity about what is being relinquished. Its core practical function is to clearly establish which property is subject to the agreement, thereby preventing disputes or misunderstandings about the subject of the transaction.
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Relinquished Property. Intermediary shall take an assignment of rights under the contract providing for the transfer of the Relinquished Property to the ultimate purchaser of the Relinquished Property (“Buyer”). Such contract (the “First Contract”) shall be in form and substance satisfactory to Intermediary. In the event of an assignment of contract rights, under the First Contract, Taxpayer is responsible for, and shall, on or before the Transfer Date, notify, in writing, all parties to the First Contract of the assignment. On or before the Transfer Date, Taxpayer shall transfer the Relinquished Property to Intermediary (subject to the First Contract) and Intermediary shall transfer the Relinquished Property to Buyer in accordance with, and in exchange for, the considerations specified in the First Contract. The net proceeds (the “Relinquished Property Equity”), as determined by Taxpayer, or Taxpayer’s Counsel, and in accordance with the Code and the Treasury Regulation thereunder, shall be paid to the order of Intermediary. Intermediary shall promptly deliver the same to Escrowee for deposit into the Account. In all cases, Taxpayer shall convey the Relinquished Property directly to Buyer.
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Relinquished Property. Real property sold, given away or abandoned by the “Named Insured”, if the “property damage” arises from any part of such real property. This exclusion II. A. 2. q. vii. does not apply if the real property: (a) is the “Named Insured’s work”; and (b) was never occupied, rented or held for rental by the “Named Insured”.
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Relinquished Property. Unless otherwise agreed to the contrary, title to the Relinquished Property shall be directly deeded from EXCHANGOR to BUYER.
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Relinquished Property. Purchaser acknowledges that Seller has the right to perform a tax-deferred exchange 6 ▇▇▇▇▇▇ LAND COMPANY transaction pursuant to Section 1031 of the Internal Revenue Code and Section 1.1031 of the treasury Regulations and that Seller’s rights, title and interest (but not obligations) pursuant to this Purchase Agreement will be assigned to a Qualified Intermediary for the purposes of completing Seller’s 1031 Exchange Transaction. ▇▇▇▇▇▇▇▇▇ agrees to cooperate with ▇▇▇▇▇▇ and ▇▇▇▇▇▇’s Intermediary at no cost or liability to Purchaser, by executing the documents necessary to complete Seller’s 1031 Exchange transaction.
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Relinquished Property. Relinquished Property" means the parcel or parcels of real property that Exchanger beneficially owned and held either for productive use in a trade or business or for investment, and that Qualified Intermediary will sell and convey (or cause to be conveyed) in exchange for Exchanger's interest in the Replacement Property in accordance with this Agreement.
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Relinquished Property 
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Related to Relinquished Property

  • B8 Property Where the Client issues Property free of charge to the Contractor such Property shall be and remain the property of the Client and the Contractor irrevocably licences the Client and its agents to enter upon any premises of the Contractor during normal business hours on reasonable notice to recover any such Property. The Contractor shall not in any circumstances have a lien or any other interest on the Property and the Contractor shall at all times possess the Property as fiduciary agent and bailee of the Client. The Contractor shall take all reasonable steps to ensure that the title of the Client to the Property and the exclusion of any such lien or other interest are brought to the notice of all sub-contractors and other appropriate persons and shall, at the Client’s request, store the Property separately and ensure that it is clearly identifiable as belonging to the Client.

  • Abandoned Property If Tenant abandons the Premises, or is dispossessed by process of law or otherwise, any movable furniture, equipment, trade fixtures or personal property belonging to Tenant and left in the Premises shall be deemed to be abandoned, at the option of Landlord, and Landlord shall have the right to sell or otherwise dispose of such personal property in any commercially reasonable manner.

  • Recovered Property If you or we recover any property for which we have made payment under this policy, you or we will notify the other of the recovery. At your option, the property will be returned to or retained by you or it will become our property. If the recovered property is returned to or retained by you, the loss payment will be adjusted based on the amount you received for the recovered property.

  • Cash and Property Such consideration shall: (i) insofar as it consists of cash, be computed at the aggregate amount of cash received by the Corporation, excluding amounts paid or payable for accrued interest; (ii) insofar as it consists of property other than cash, be computed at the fair market value thereof at the time of such issue, as determined in good faith by the Board of Directors of the Corporation; and (iii) in the event Additional Shares of Common Stock are issued together with other shares or securities or other assets of the Corporation for consideration which covers both, be the proportion of such consideration so received, computed as provided in clauses (i) and (ii) above, as determined in good faith by the Board of Directors of the Corporation.

  • Qualified Property Applicant’s Qualified Property is described in Schedule 2.3, which is incorporated herein by reference. The Parties expressly agree that the location of the Qualified Property shall be within the Reinvestment Zone as set out in Schedule 2.1.