Types of Property Sample Clauses

The "Types of Property" clause defines and categorizes the various forms of property that are relevant to the agreement. It typically distinguishes between real property (such as land and buildings), personal property (such as equipment, inventory, or vehicles), and sometimes intellectual property (like patents or trademarks). By clearly specifying which types of property are covered, this clause ensures that all parties understand the scope of assets involved, reducing ambiguity and potential disputes over what is included or excluded under the contract.
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Types of Property. Properties may be freehold, heritable or leasehold or held under a fee farm grant. In the case of leasehold properties, the unexpired portion of the lease must in most cases not expire earlier than 30 years after the term of the Loan. All properties have been valued by a valuer approved by the Seller.
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Types of Property. Properties may be either freehold, leasehold or (in Scotland) heritable or held under a long lease. In the case of leasehold properties, the unexpired portion of the lease must in most cases not expire earlier than 30 years after the term of the Loan. The property must be used solely for residential purposes (with extremely limited case by case exceptions) and must be in sound structural condition and repair or be capable of being put into such state. House boats, mobile homes and any property on which buildings insurance cannot be arranged are not acceptable. All persons who are to be legal owners of the Property on completion of the relevant Mortgage must be Borrowers. All properties have been valued by a valuer approved by the Seller or, where appropriate, according to a methodology which would meet the standards of a reasonable, prudent mortgage lender and which has been approved by the Seller.
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Types of Property. Properties may be either freehold, leasehold or (in Scotland) heritable or held under a long lease. In the case of leasehold properties, the unexpired portion of the lease must in most cases not expire earlier than 30 years after the term of the Loan. The property must be used solely for residential purposes (with extremely limited case by case exceptions) and must be in sound structural condition and repair or be capable of being put into such state. House boats, mobile homes and any property on which buildings insurance cannot be arranged are not acceptable. All persons who are to be legal owners of the Property on completion of the relevant Mortgage must be Borrowers. Mortgage applications may be accepted by the Seller on properties in: (a) England (including the Isle of Wight and Scilly Isles); (b) Wales (including Anglesey); (c) Northern Ireland; and
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Types of Property. Properties may be either freehold or leasehold. In the case of leasehold properties, the unexpired portion of the lease must in most cases not expire earlier than 30 years after the term of the Loan. All properties have been valued by a valuer approved by the Seller.
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Types of Property. Properties may be either freehold or leasehold or (in Scotland) heritable or long lease. In the case of leasehold(1) properties, the unexpired portion of the lease must in most cases not expire earlier than 30 years after the term of the Loan. All properties have been valued by a valuer approved by the Seller.
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Types of Property. Properties may be either freehold or leasehold. In the case of leasehold properties, the unexpired portion of the lease must in most cases not expire earlier than 30 years after the term of the Loan. The property must be used solely for residential purposes (with extremely limited case by case exceptions) and must be in sound structural condition and repair or be capable of being put into such state. House boats, mobile homes and any property on which buildings insurance cannot be arranged are not acceptable. All persons who are to be legal owners of the Property on completion of the relevant Mortgage must be Borrowers. All properties have been valued by a valuer approved by the Seller or, where appropriate, according to a methodology which would meet the standards of a reasonable, prudent mortgage lender and which has been approved by the Seller.
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Types of Property. Properties shall be residential real estate. All properties have been valued by a valuer approved by the Seller except in the case of certain Loans which have a low loan-to-value ratio and the valuation of the relevant Properties can be easily determined by using publicly available services.
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Types of Property. If marked here, in the following described property:
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  • PARTICULARS OF PROPERTY DESCRIPTION OF PROPERTY : The subject property is A Three (3) Storey Shop / Office identified as POSTAL ADDRESS OF UNIT : ▇▇▇▇ ▇▇. ▇▇▇ ▇-▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Seri ▇▇▇▇▇▇, Taman Seri ▇▇▇▇▇▇, ▇▇▇▇▇ MUKIM / DISTRICT / STATE : ▇▇ / ▇▇▇▇▇ ▇▇▇▇ / ▇▇▇▇▇▇ PROVISIONAL LAND AREA : Approximately 65.59 square metres (706 square feet) TENURE : Freehold VENDOR / PROPRIETOR : JKP Sdn. Bhd. (Company No.: 350606-W) ENCUMBRANCE : Assigned to Maybank Islamic Berhad pursuant to the said Agreements and subject to all easements, leases, tenancies, occupiers, charges, caveats, previous sale and purchase, previous assignment, covenants, liabilities subsisting thereon or thereover. The property will be sold on an “as is where is” basis, subject to a reserve price of RM150,000.00 (Ringgit Malaysia One Hundred Fifty Thousand) only, subject to the Conditions of Sale and by way of an assignment from the above Assignee/Bank subject to consent being obtained by the successful bidder (“the Purchaser”) from the developer/proprietor and relevant authorities, if any, including all terms, conditions, stipulations and covenants which were and may be imposed by the relevant authority. All intending bidders are required to deposit 10% of the fixed reserve price by bank draft or cashier’s order only in favour of Maybank Islamic Berhad prior to the sale with the under mentioned Auctioneer. Settlement of the balance purchase price : The balance of the purchase price is to be settled within ninety (90) days from the date of auction sale by Bank Draft or Cashier’s Order drawn in favour of Maybank Islamic Berhad. For further particulars, please contact Messrs. ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇ & ▇▇▇ ▇▇▇▇▇▇ Solicitor for the Assignee/Bank herein whose address is at Advocates & ▇▇▇▇▇▇▇▇▇▇ ▇▇. ▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇ [Telephone No : ▇▇-▇▇▇ ▇▇▇▇ / Facsimile No. ▇▇-▇▇▇ ▇▇▇▇ / Reference : L/ARI/438/2020/NS (GHL)] or the under mentioned Auctioneer. Website: ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇ FB Page: RAJ Auction House

  • Loss of Property all or a substantial part of the business or assets of any Security Party is destroyed, abandoned, seized, appropriated or forfeited for any reason, and such occurrence in the reasonable opinion of the Agent (acting on the instructions of the Majority Lenders) has or could reasonably be expected to have a Material Adverse Effect; or

  • Status of Property (a) Borrower has obtained all Permits, all of which are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modification. (b) The Property and the present and contemplated use and occupancy thereof are in full compliance with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal Requirements. (c) The Property is served by all utilities required for the current or contemplated use thereof. All utility service is provided by public utilities and the Property has accepted or is equipped to accept such utility service. (d) All public roads and streets necessary for service of and access to the Property for the current or contemplated use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public. The Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the Property. (e) The Property is served by public water and sewer systems. (f) Except as otherwise disclosed in writing to Lender, the Property is free from damage caused by fire or other casualty. The Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects; there exists no structural or other material defects or damages in the Property, whether latent or otherwise, and Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (g) All costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements have been paid in full. There are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under applicable Legal Requirements could give rise to any such liens) affecting the Property which are or may be prior to or equal to the lien of the Security Instrument. (h) Borrower has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenants’ property) used in connection with the operation of the Property, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument and the other Loan Documents. (i) All liquid and solid waste disposal, septic and sewer systems located on the Property are in a good and safe condition and repair and in compliance with all Legal Requirements. (j) Except as expressly disclosed on the Survey, no portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance Acts. No part of the Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (k) All the Improvements lie within the boundaries of the Land and any building restriction lines applicable to the Land. (l) To Borrower’s knowledge after due inquiry, there are no pending or proposed special or other assessments for public improvements or otherwise affecting the Property, nor are there any contemplated improvements to the Property that may result in such special or other assessments.

  • Sale of Properties The Borrower will not, and will not permit any of the Guarantors to, sell, assign, farm-out, convey or otherwise transfer any Property except for: (a) the sale of Hydrocarbons in the ordinary course of business; (b) farmouts of undeveloped acreage and assignments in connection with such farmouts; (c) the sale or transfer of equipment that is no longer necessary for the business of the Borrower or such Subsidiary or is replaced by equipment of at least comparable value and use; (d) sales or other dispositions (excluding Casualty Events) of Oil and Gas Properties or any interest therein or Subsidiaries owning Oil and Gas Properties; provided that (i) 100% of the consideration received in respect of such sale or other disposition shall be cash and/or publicly traded securities, (ii) the consideration received in respect of such sale or other disposition shall be equal to or greater than the fair market value of the Oil and Gas Property, interest therein or Subsidiary subject of such sale or other disposition (as reasonably determined by the board of directors of the Borrower and, if requested by the Administrative Agent, the Borrower shall deliver a certificate of a Responsible Officer of the Borrower certifying to that effect), (iii) if such sale or other disposition of Oil and Gas Property or Subsidiary owning Oil and Gas Properties included in the most recently delivered Reserve Report during any period between two successive Scheduled Redetermination Dates has a fair market value (as determined by the Administrative Agent), individually or in the aggregate, in excess of $5,000,000, the Borrowing Base shall be reduced, effective immediately upon such sale or disposition, by an amount equal to the value, if any, assigned such Property as determined by the Required Lenders assigned such Property in the most recently delivered Reserve Report and (iv) if any such sale or other disposition is of a Subsidiary owning Oil and Gas Properties, such sale or other disposition shall include all the Equity Interests of such Subsidiary; and (e) sales and other dispositions of Properties not regulated by Section 9.12(a) to (d) having a fair market value not to exceed $250,000 during any 12-month period.

  • Description of Property A narrative description of the Real Estate, the improvements thereon and the tenants and Leases relating to such Real Estate.