Sale or Transfer of Property Sample Clauses
The 'Sale or Transfer of Property' clause defines the terms and conditions under which ownership of a property may be sold or transferred from one party to another. Typically, this clause outlines the procedures that must be followed, such as providing notice to the other party, obtaining necessary approvals, or meeting specific requirements before a sale or transfer can occur. Its core practical function is to ensure that all parties are aware of and agree to the process, thereby preventing unauthorized transfers and protecting the interests of stakeholders involved in the property.
Sale or Transfer of Property. In the event of a sale or transfer of the property, property tax prepayments are to stay on the property tax account and the responsibility for the adjustment shall be between the vendor and purchaser. It is the responsibility of the property owner to notify the Collector, in writing no less than fifteen (15) days, prior to the sale if they wish to withdraw from the property tax prepayment plan to ensure payments do not continue after thesale.
Sale or Transfer of Property. In the event Owner decides to sell, exchange or transfer the Property, Owner shall notify Broker immediately.
Sale or Transfer of Property. In the event OWNER determines to affect the sale, exchange or transfer of the PROPERTY, OWNER shall notify BROKER immediately.
Sale or Transfer of Property. Borrower, the Hotel Owners and TRS Leasing shall not transfer, lease, convey, encumber or grant any interest of any nature in any Collateral now owned or hereafter acquired, except for: (i) inventory sold or consumed in the ordinary course of business, (ii) obsolete or damaged equipment that is replaced with equipment of equal or greater value that is free from encumbrance, or (iii) purchase money liens incurred for the purchase of the personal property that is security for such purchase money lien, in an original amount not exceeding the sale price of the personal property. Borrower may request approval from Bank to obtain a release of any of the Hotels and substitute a new Hotel as Collateral as provided in Section 1.11 hereof. Bank agrees that it will not unreasonably withhold its approval of any such substitution.
Sale or Transfer of Property. The Permittee shall notify potential successor owners of the Property of the Encroachment’s existence and the obligations under the Permit. At least sixty (60) days prior to the closing of any sale or transfer of the Property, the Permittee shall cause its successors, assigns and transferees to submit a written statement to the City evidencing the sale or transfer, agreeing to the terms and conditions of the Permit and providing updated contact information for purposes of notices under the Agreement.
Sale or Transfer of Property. In the event the Property Owner sells or transfers all of its interest in the Property, such Property Owner, as the transferring property owner, shall provide to the County a Declaration of Transfer of Inspection and Maintenance Responsibilities of the stormwater management system signed by said transferring property owner and the transferee and witnessed by a public notary to document that all inspections and maintenance, and related financial responsibilities have been transferred and communicated to such transferee. Upon such transfer or conveyance by the transferring property owner, all obligations of the transferring property owner hereunder shall automatically be transferred and assigned to and assumed by transferee and such transferee shall become the Property Owner under this Agreement.
Sale or Transfer of Property. If Owner lists residence for sale, or legal action is imminent (i.e. Owner bankruptcy or property foreclosure) during the term of the contract, Manager retains authorization to terminate management services. Manager is entitled to remaining commission due under terms of contract, remaining amount based upon expectation of continued occupancy and receipt of nominal rent through remainder of term. Owner is required to provide Manager with minimum thirty (30) day notice of any anticipated change in circumstances. If Manager is informed of impending sale, foreclosure or bankruptcy, Manager may retain sufficient present and future funds received in trust, to ensure that any Tenant security deposits and/or other obligations are available for disbursement when required.
Sale or Transfer of Property. If the subject property is sold or otherwise transferred during the term hereof, this Agreement and any and all payments made pursuant to the terms hereof shall, at the option of USC, terminate. USC may elect, at its sole option and discretion, to maintain subsidy payments to the employee until the end of the stated term. If USC does so elect, USC may require all reasonable additional documentation regarding employee's transfer, sale, and new real estate purchase.
Sale or Transfer of Property. Before sale or transfer of title to the Property, the Borrower or, the Borrower’s representatives shall notify the Lender of his or her intension to sell or to otherwise transfer title. Except as otherwise provided in Section 24 of this Deed of Trust, when Borrower transfers title, the entire Loan which is evidenced by the Note shall be immediately due and payable. Where title is transferred to, or otherwise altered to include or favor, a spouse or person signing the Note and such spouse or person resides on the Property conveyed in this Deed of Trust and is independently eligible to participate under the NAHASDA Program, the transfer or alteration in this title shall not result in acceleration of the Loan evidenced by the Note. Similarly, when a spouse or person signing the Note takes the title to the Property which secures this Deed of Trust by devise, descent or by operation of law upon death of a joint tenant and such spouse or person resides on the Property and is independently eligible for assistance under the Program, the transfer of title shall not result in acceleration of the Loan evidenced by the Note. Upon the sale or transfer of the Property, Lender shall be paid in the amounts described in Section I of the Note, which may include ▇▇▇▇▇▇’s Share of Equity (as defined in the Note). For this reason, if the Borrower determines to sell the Property, he or she has the affirmative duty to protect the interest of the Lender by selling the Property as its fair market value.
Sale or Transfer of Property. Landlord shall have the right to sell, assign or otherwise transfer, in whole or in part, its interest in the Leased Premises and the Property without Tenant’s consent.