Value of the Property Clause Samples

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Value of the Property. The Conservancy’s obligations under this Agreement are contingent upon the Purchase Price of the Property not exceeding the value of the Property, as determined by the Conservancy based upon appraisals, appraisal updates, and other opinions and indications of market value secured by the Conservancy. If the Conservancy determines, at any time prior to closing, that the Purchase Price exceeds the value, then the Conservancy may, at its election, by written notice to the Seller, [optional: either (i) require that the purchase price be reduced to the appraised value of the Property, or (ii)] terminate this Agreement without further recourse to the parties, in which event the ▇▇▇▇▇▇▇ Money shall be [retained by Seller OR promptly refunded to the Conservancy].]
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Value of the Property. The Loan is secured by interests in real property having a fair market value as of the date hereof at least equal to eighty (80%) of the original principal balance of the Loan.
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Value of the Property. The Parties agree that the value of the Property, as valued at the time of the MOU, was approximately $1,139,560 for the entire 41.48 acres (or $27,473 per/acre) which was determined by an appraisal in 2023 for 16.38 acres purchased at $450,000. The Parties agree that the City is contributing the portions of the Property that will be used as the site for the Offsite Improvements (as defined below) and the Phase 1 Onsite Public Improvements (as defined below, and together with the Offsite Improvements, the “Phase 1 Public Improvements”) for use as part of the Project, but that such portions of the Property will continue to be owned by the City, will not be sold as Lots, will not be subject to Revenue Sharing as set forth in Section XII(b)(iii) hereof, but will be made available for general public use.
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Value of the Property. The ▇▇▇▇▇▇ and the Storage Provider agree that the property is stored on the site as­is and that sum total value of all items stored is $1. It is the responsibility of the ▇▇▇▇▇▇ to acquire and maintain current property insurance for items stored at the location.
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Value of the Property. Notwithstanding anything to the contrary contained herein, the Property Indebtedness for purposes of a transfer of a Portion shall include the outstanding balance (including all applicable prepayment, assumption or other fees, costs and penalties) of all Existing Financing and New Financing which, by their terms or as may otherwise be required by the lenders thereunder, must be assumed or prepaid upon a transfer of such Portion by Optionor as contemplated by this Agreement. Any financings or other arrangements relating to the Property in excess of the amount of the Cost Value of the Property shall be the responsibility of Optionor. Optionor shall provide the Operating Partnership with notice of any known default under any of the Existing Financings and New Financings and shall provide copies of any written default notices Optionor may receive from the lenders of such financings.
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Value of the Property. Owner and Custodian agree that the approximate [ ] replacement value [ ] fair market value of each item of Property on the date this agreement is signed is: Item Value
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Value of the Property. To the knowledge of the Existing Partners, the Improvements and Tangible Personal Property (including, without limitation, plumbing equipment, HVAC, electric wiring and fixtures, gas distribution system, and water and sewage systems presently on or in the Property) are in good working order and condition and are sufficient to serve the needs of the Property. To the knowledge of the Existing Partners, all water, sewer, gas, electric, telephone, and drainage facilities and all other utilities required by law or by the normal use and operation of the Property, including, without limitation, cable television service, and waste water treatment facilities permanently dedicated to and reserved for the Property, are and at the time of Closing will be installed to the property lines of the Land, are and at the time of Closing will be connected pursuant to valid unconditional permits, and are and at the time of Closing will be adequate to service the Property and to permit compliance with all Laws.
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Related to Value of the Property

  • Sale of the Property Any sale of the Property shall not affect this Lease or any of your obligations, but upon such sale we will be released from all of our obligations under this Lease and the new owner of the Property will be responsible for the performance of the duties of "Landlord" from and after the date of such sale.

  • Value of Mortgaged Property The Seller has no knowledge of any circumstances existing that could reasonably be expected to adversely affect the value or the marketability of any Mortgaged Property or Mortgage Loan or to cause the Mortgage Loans to prepay during any period materially faster or slower than similar mortgage loans held by the Seller generally secured by properties in the same geographic area as the related Mortgaged Property;

  • Use of the Property 3.9.1 To use the Property for the purpose of a private residence only in the occupation of the Permitted Occupant and not for business purposes. 3.9.2 Not to remove the Fixtures and Fittings of the Property or to store them in any way or place within or outside the Property that may reasonably lead to damage to the items or to the items deteriorating more quickly than if they had remained in the same location as at the beginning of the Tenancy. 3.9.3 Not to use the Property for any immoral or illegal purpose. 3.9.4 Not to register a company at the address of the Property. 3.9.5 Not to operate a business trade or profession from the Property. 3.9.6 Not to use consume or allow to be used or consumed any drugs or any other substance which is, or becomes, prohibited or restricted by law; 3.9.7 Not to smoke, vape or smoke e-cigarettes or permit any other resident in the Property or any guest or visitor to smoke tobacco, vape or smoke e-cigarettes or any other substance in the Property or to burn or allow any other person to burn any candles, incense sticks (or similar) without the Landlord's prior written consent. If in breach of this clause, the Tenant will be in breach of this Agreement and liable for or to compensate the Landlord in damages for the cleaning of the carpets to a professional standard and the cleaning of the curtains by whatever method is specified for the type of curtain material and the washing down of walls and redecoration if necessary to rid the Property of the odour of nicotine, incense, or any other substance caused by the Tenant or any visitor to the Property and to restore the interior to the condition described in the Inventory and Schedule of Condition if damaged through unauthorised use of candles, incense sticks, (or similar) or smoking in the Property. 3.9.8 Not to use the Property or allow others to use the Property so as to cause a nuisance, annoyance, or cause damage to any neighbouring, adjoining or adjacent Property or the owners or occupiers thereof. This shall include any nuisance caused by noise. 3.9.9 Not to decorate, make any alterations, or additions to or in the Property or puncture walls, timbers or other parts of the Property without the prior written consent of the Landlord or the Agent. 3.9.10 Not to hang any posters, pictures or other items in the Property using blu-tack, sellotape, nails, adhesive, or their equivalents but only by using a reasonable number of commercial picture hooks; 3.9.11 Not to place any aerial, satellite dish, notice, advertisement, sign or board on or in the Property without the prior consent of the Landlord. In the event such consent be given the Tenant will prior to removing from the property remove such equipment and make good and redecorate as reasonably required. 3.9.12 Not to remove, dispose of and if necessary repair any item or rectify and make good any damage due to the actions or inaction of the Tenant without the Landlord’s consent. 3.9.13 Not to keep any dangerous or inflammable goods, materials or substances in or on the Property, apart from small quantities of fuel, and other items, stored in a safe manner, required for general domestic household use. 3.9.14 Not to or permit barbecue in or on the Property including any balcony, roof terrace or garden if the Property is subject to a head lease; or if the Property is freehold to barbecue only in designated areas as agreed in writing with the Landlord or the Agent; 3.9.15 Not to use or gain access to any loft space or area at the Property except in the case of an extreme emergency. 3.9.16 To inform the Landlord or the Landlord’s Agent upon each and every occasion that access to the loft space or area is gained with clarification of the circumstances of the emergency which lead to the access. 3.9.17 Not to hold or allow any sale by auction at the Property. 3.9.18 To empty any septic tank or treatment plant regularly and at the end of the Tenancy if it has been emptied prior to the start of the Tenancy and proof provided to the Tenant by the Landlord or the Landlord’s Agent if applicable; 3.9.19 To keep the oil or LPG tank filled during and at the end of the Tenancy and provide proof to the Landlord or the Landlord’s Agent provided it was filled at the commencement of the Tenancy; 3.9.20 To pay any call out charges if the oil or LPG tank runs dry and the oil or LPG system has to be bled to remove an air lock if applicable; 3.9.21 To run all taps in sinks, basins and baths, flush lavatories and run any showers for twenty minutes upon taking up occupation and after the property has been vacant for any period of seven days or more, to reduce any risk against legionella. 3.9.22 To regularly top up any water softener left at the property with the correct salts at the Tenants own expense. 3.9.23 To not introduce into the Property any portable heaters fired by liquid or bottled gas fuels. 3.9.24 To comply with any requirements of the local authority for collection of recycling and/or garden waste. 3.9.25 To comply with the Gas Safety Regulations relating to the Property and in particular to do the following: 3.9.25.1 Not to block any ventilation in the Property and in particular ducts provided to comply with gas safety. 3.9.25.2 To report promptly to the Landlord or the Landlord’s Agent any brown or sooty build-up on or around any gas appliance.

  • Development of the Property Except as modified by this Agreement, the Development and the Property will be developed in accordance with all applicable local, state, and federal regulations, including but not limited to the City’s ordinances and the zoning regulations applicable to the Property, and such amendments to City ordinances and regulations that that may be applied to the Development and the Property under Chapter 245, Texas Local Government Code, and good engineering practices (the “Applicable Regulations”). If there is a conflict between the Applicable Regulations and the Development Standards, the Development Standards shall control.

  • Appraised Value If an Objecting Party objects in writing to the Initial Valuation within ten (10) days after its receipt of the Valuation Notice, the Objecting Party, within fourteen (14) days from the date of such written objection, shall engage an Independent Appraiser (the “First Appraiser”) to determine within thirty (30) days of such engagement the Fair Market Value of the Partnership Interests (the “First Appraised Value”). The cost of the First Appraiser shall be borne by the Objecting Party. If the First Appraised Value is at least eighty percent (80%) of the Initial Value and less than or equal to one hundred twenty percent (120%) of the Initial Value, then the Purchase Price shall be the average of the Initial Value and the First Appraised Value. If the First Appraised Value is less than eighty percent (80%) of the Initial Value or more than one hundred twenty percent (120%) of the Initial Value, then the Partnership and the Objecting Party shall, within fourteen (14) days from the date of the First Appraised Value, mutually agree on and engage a second Independent Appraiser (the “Final Appraiser”). The cost of the Final Appraiser shall be borne equally by the Partnership and the Objecting Party. The Final Appraiser shall determine within thirty (30) days after its engagement the Fair Market Value of the Partnership Interests, but if such determination is less than the lesser of the Initial Value and the First Appraised Value then the lesser of the Initial Value and the First Appraised value shall be the value or if such determination is greater than the greater of the Initial Value and the First Appraised Value then the greater of the Initial Value and the First Appraised Value shall be the value (the “Final Valuation”). The Purchase Price shall be equal to the Final Valuation and shall be final and binding upon the parties to this Agreement for purposes of the subject transaction.