Replacement Utility Property Interests Clause Samples

Replacement Utility Property Interests. 14 ADOT’s involvement in acquisition of Replacement Utility Property Interests is 15 subject to the following terms and conditions:
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Replacement Utility Property Interests. 11 ADOT’s involvement in acquisition of Replacement Utility Property Interests is 12 subject to the following terms and conditions: 13 5.4.3.1 ADOT will assist in the acquisition of Replacement Utility 14 Property Interests only if both Developer and the Utility Company provide evidence 15 reasonably satisfactory to ADOT that: (a) acquisition of the subject Replacement Utility 16 Property Interest is necessary because it is not physically possible, including through 17 commercially reasonable design modifications as described in Section 14.4.1.1(a), to 18 perform the subject Utility Adjustment within the Schematic ROW or to use Protection in 19 Place; and (b) the Utility Company either lacks the power to acquire the Replacement 20 Utility Property Interest or has been unsuccessful in negotiating the acquisition. 21 5.4.3.2 Except as provided otherwise in Section 14.4.5.2, Developer 22 shall compensate ADOT for costs ADOT incurs in connection with the acquisition of 23 Replacement Utility Property Interests, to the same extent ADOT would be owed 24 compensation for acquisition of Developer-Designated ROW under Section 5.6.4. If the 25 Utility Company is responsible under Law for the acquisition costs, such as in the case 26 of a Replacement Utility Property Interest that is a Betterment, then: (a) Developer shall 27 use best efforts to cause the Utility Company to agree in writing with ADOT to joint and 28 several liability with Developer for such compensation due ADOT; and (b) such written 29 agreement from the Utility Company shall be a condition precedent to ADOT’s 30 commencement of assistance. 31 5.4.3.3 Any assistance ADOT provides shall not relieve Developer 32 of its sole responsibility for satisfactory compliance with its obligations respecting Utility 33 Adjustment work and timely completion thereof. 34 5.4.3.4 ADOT will not be obligated to take title to the Replacement 35 Utility Property Interest unless otherwise required by Law in connection with ADOT’s 36 exercise of its power to acquire. If ADOT is obligated by Law to take title, then it will do 37 so on the condition that the Utility Company concurrently accepts conveyance of title 38 from ADOT to the Utility Company, without warranty or representation and with the 39 Utility Company’s written indemnification against any third party liability that may arise 40 out of ADOT’s status as title holder. 1 5.4.3.5 Except as provided otherwise in Section 14.4.5.2, ADOT will 2 have no risk or liabili...
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Replacement Utility Property Interests. 13 ADOT’s involvement in acquisition of Replacement Utility Property Interests is 14 subject to the following terms and conditions: 15 5.4.3.1 ADOT will assist in the acquisition of Replacement Utility 16 Property Interests only if both Developer and the Utility Company provide evidence 17 reasonably satisfactory to ADOT that: (a) acquisition of the subject Replacement Utility 18 Property Interest is necessary because it is not physically possible, including through 19 commercially reasonable design modifications as described in Section 14.4.1.1(a), to 20 perform the subject Utility Adjustment within the Schematic ROW or to use Protection in 21 Place; and (b) the Utility Company either lacks the power to acquire the Replacement 22 Utility Property Interest or has been unsuccessful in negotiating the acquisition. 23 5.4.3.2 Except as provided otherwise in Section 14.4.5.2, Developer 24 shall compensate ADOT for costs ADOT incurs in connection with the acquisition of 25 Replacement Utility Property Interests, to the same extent ADOT would be owed 26 compensation for acquisition of Developer-Designated ROW under Section 5.6.4. If the 27 Utility Company is responsible under Law for the acquisition costs, such as in the case of
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Replacement Utility Property Interests. ADOT’s involvement in acquisition of Replacement Utility Property Interests is subject to the following terms and conditions: 5.4.3.1 ADOT will assist in the acquisition of Replacement Utility 5.4.3.2 Except as provided otherwise in Section 14.4.5.2, Developer shall compensate ADOT for costs ADOT incurs in connection with the acquisition of Replacement Utility Property Interests, to the same extent ADOT would be owed compensation for acquisition of Developer-Designated ROW under Section 5.6.4. If the Utility Company is responsible under Law for the acquisition costs, such as in the case of a Replacement Utility Property Interest that is a Betterment, then: (a) Developer shall use best efforts to cause the Utility Company to agree in writing with ADOT to joint and several liability with Developer for such compensation due ADOT; and (b) such written agreement from the Utility Company shall be a condition precedent to ADOT’s commencement of assistance. 5.4.3.3 Any assistance ADOT provides shall not relieve Developer 5.4.3.4 ADOT will not be obligated to take title to the Replacement 5.4.3.5 Except as provided otherwise in Section 14.4.5.2, ADOT will have no risk or liability whatsoever due to delay in its completing acquisition of any Replacement Utility Property Interest, and no such delay shall constitute an ADOT-Caused Delay or other Relief Event.
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Related to Replacement Utility Property Interests

  • Real Property Interests (a) The Owner has provided, or upon execution of this Agreement shall promptly provide to the Developer, documentation acceptable to TxDOT indicating any right, title or interest in real property claimed by the Owner with respect to the Owner Utilities in their existing location(s). Such claims are subject to TxDOT’s approval as part of its review of the Developer’s Utility Assembly as described in Paragraph 2. Claims approved by TxDOT as to rights or interests are referred to herein as “Existing Interests”. (b) If acquisition of any new easement or other interest in real property (“New Interest”) is necessary for the Adjustment of any Owner Utilities, then the Owner shall be responsible for undertaking such acquisition. The Owner shall implement each acquisition hereunder expeditiously so that related Adjustment construction can proceed in accordance with the Developer’s Project schedules. The Developer shall be responsible for its share (if any, as specified in Paragraph 6) of the actual and reasonable acquisition costs of any such New Interest (including without limitation the Owner’s reasonable overhead charges and reasonable legal costs as well as compensation paid to the landowner), excluding any costs attributable to Betterment as described in Paragraph 16(c), and subject to the provisions of Paragraph 16(e); provided, however, that all acquisition costs shall be subject to the Developer’s prior written approval. Eligible acquisition costs shall be segregated from other costs on the Owner's estimates and invoices. Any such New Interest shall have a written valuation and shall be acquired in accordance with applicable Law. (c) The Developer shall pay its share only for a replacement in kind of an Existing Interest (e.g., in width and type), unless a New Interest exceeding such standard (i) is required in order to accommodate the Project or by compliance with applicable law, or (ii) is called for by the Developer in the interest of overall Project economy. Any New Interest which is not the Developer’s cost responsibility pursuant to the preceding sentence shall be considered a Betterment to the extent that it upgrades the Existing Interest which it replaces, or in its entirety if the related Owner Utility was not installed pursuant to an Existing Interest. Betterment costs shall be solely the Owner’s responsibility. (d) For each Existing Interest located within the final Project right of way, upon completion of the related Adjustment work and its acceptance by the Owner, the Owner agrees to execute a quitclaim deed or other appropriate documentation relinquishing such Existing Interest to TxDOT, unless the affected Owner Utility is remaining in its original location or is being reinstalled in a new location within the area subject to such Existing Interest. All quitclaim deeds or other relinquishment documents shall be subject to TxDOT's approval as part of its review of the Utility Assembly as described in Paragraph 2. For each such Existing Interest relinquished by the Owner, the Developer shall do one of the following to compensate the Owner for such Existing Interest, as appropriate: (i) If the Owner acquires a New Interest for the affected Owner Utility, the Developer shall reimburse the Owner for the Developer’s share of the Owner’s actual and reasonable acquisition costs in accordance with Paragraph 16(b) and subject to Paragraph 16(c); or (ii) If the Owner does not acquire a New Interest for the affected Owner Utility, the Developer shall compensate the Owner for the Developer’s share of the fair market value of such relinquished Existing Interest, as mutually agreed between the Owner and the Developer and supported by a written valuation. The compensation, if any, provided to the Owner pursuant to either subparagraph (i) or subparagraph (ii) above shall constitute complete compensation to the Owner for the relinquished Existing Interest and any New Interest, and no further compensation shall be due to the Owner from the Developer or TxDOT on account of such Existing Interest or New Interest(s). (e) The Owner shall execute a Utility Joint Use Acknowledgment (TxDOT-U-80A) for each Adjustment where required pursuant to TxDOT policies. All Utility Joint Use Acknowledgments shall be subject to TxDOT approval as part of its review of the Utility Assembly as described in Paragraph 2.

  • Access to Property, Property’s Management, Property Lender, and Property Tenants Potential Investor agrees to not seek to gain access to any non-public areas of the Property or communicate with Property’s management employees, the holder of any financing encumbering the Property, the Property’s tenants, and the Owner’s partners in the ownership of the Property, without the prior consent of Owner or JLL, which consent may be withheld in the Owner’s sole discretion.

  • Real Property Matters The Credit Parties shall have delivered to the Administrative Agent with respect to each parcel of Real Property owned or acquired by a Credit Party after the Closing Date with a fair market value greater than $5,000,000, to the extent that such parcel of Real Property becomes subject to a Mortgage pursuant to Section 6.09(a) above, within 30 days after such parcel of Real Property becomes subject to a Mortgage, all of the following: (i) an American Land Title Association (ALTA) mortgagee title insurance policy or policies, or unconditional commitments therefor (a “Title Policy”) issued by a title insurance company reasonably satisfactory to the Administrative Agent (a “Title Company”), in an amount not less than the amount reasonably required therefor by the Administrative Agent (taking into account the estimated value of the property involved), insuring fee simple title to, or a valid leasehold interest in, such Real Property vested in the applicable Credit Party and assuring the Administrative Agent that the applicable Mortgage creates a valid and enforceable first priority mortgage lien on the respective Real Property encumbered thereby, subject only to Permitted Liens, which Title Policy (1) shall include an endorsement for mechanics’ liens, for revolving, “variable rate” and future advances under this Agreement and for any other matters reasonably requested by the Administrative Agent, and (2) shall provide for affirmative insurance and such reinsurance as the Administrative Agent may reasonably request, all of the foregoing in form and substance reasonably satisfactory to the Administrative Agent; (ii) a title report issued by the Title Company with respect thereto, dated not more than 30 days prior to the date of execution of the applicable Mortgage and reasonably satisfactory in form and substance to the Administrative Agent; (iii) available copies of all recorded documents listed as exceptions to title or otherwise referred to in the Title Policy or in such title report relating to such real Property; (iv) a survey, in form and substance reasonably satisfactory to the Administrative Agent, of such Real Property, certified in a manner reasonably satisfactory to the Administrative Agent by a licensed professional surveyor reasonably satisfactory to the Administrative Agent; (v) a certificate of the Borrower identifying any Phase I, Phase II or other environmental report received in final form by any Credit Party during the five year period prior to the date of execution of the Mortgage relating to such Real Property and/or the operations conducted therefrom, or stating that no such final form reports have been requested or received by any Credit Party (or its counsel), together with true and correct copies of all such environmental reports so listed; and all such environmental reports shall be reasonably satisfactory in form and substance to the Administrative Agent; and (vi) an opinion of local counsel admitted to practice in the jurisdiction in which such Real Property is located, reasonably satisfactory in form and substance to the Administrative Agent, as to the validity and effectiveness of such Mortgage as a lien on such Real Property encumbered thereby, and covering such other matters of law in connection with the execution, delivery, recording and enforcement of such Mortgage as the Administrative Agent may reasonably request.

  • Real Estate Taxes and Special Assessments The 2022 calendar year real estate taxes due and payable in 2023 shall be paid by Seller. Seller shall credit Buyer(s) at closing for said 2022 real estate taxes payable in 2023 based on the most recent ascertainable tax figures. ▇▇▇▇▇ is responsible for all subsequent real estate taxes.

  • Equipment and Property A. The Grantee must ensure equipment with a per-unit cost of $5,000 or greater purchased with grant funds under this award is used solely for the purpose of this Grant or is properly pro-rated for use under this Grant. Grantee must have control systems to prevent loss, damage, or theft of property funded under this Grant. Grantee shall maintain equipment management and inventory procedures for equipment, whether acquired in part or whole with grant funds, until disposition occurs. B. When equipment acquired by Grantee under this Grant Agreement is no longer needed for the original project or for other activities currently supported by System Agency, the Grantee must properly dispose of the equipment pursuant to 2 CFR and/or TxGMS, as applicable. Upon termination of this Grant Agreement, use and disposal of equipment by the Grantee shall conform with TxGMS requirements. C. Grantee shall initiate the purchase of all equipment approved in writing by the System Agency in accordance with the schedule approved by System Agency, as applicable. Failure to timely initiate the purchase of equipment may result in the loss of availability of funds for the purchase of equipment. Requests to purchase previously approved equipment after the first quarter in the Grant Agreement must be submitted to the assigned System Agency contract manager. D. Controlled Assets include firearms, regardless of the acquisition cost, and the following assets with an acquisition cost of $500 or more, but less than $5,000: desktop and laptop computers (including notebooks, tablets and similar devices), non-portable printers and copiers, emergency management equipment, communication devices and systems, medical and laboratory equipment, and media equipment. Controlled Assets are considered supplies. E. System Agency funds must not be used to purchase buildings or real property without prior written approval from System Agency. Any costs related to the initial acquisition of the buildings or real property are not allowable without written pre-approval.