Vesting of Property Sample Clauses
The Vesting of Property clause establishes the point at which ownership of a specified property or asset is legally transferred from one party to another. Typically, this clause outlines the conditions or events—such as completion of payment, fulfillment of contractual obligations, or the passage of a certain date—that must occur for the transfer of title to take effect. By clearly defining when and how property rights are vested, this clause ensures certainty for both parties and helps prevent disputes over ownership or responsibility for the property.
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Vesting of Property. The Commission shall on the operative date be entitled as beneficial owner to the goods, equipment, fixtures and other property arising from the performance of the Railway Construction Agreement specified in the Fourth Schedule.
Vesting of Property. Upon the delivery of a Receiver's Certificate to the Purchaser (or its nominee), substantially in the form attached as Schedule “A” hereto (the “Receiver’s Certificate”), subject only to approval of the transfer of applicable licenses, permits and approvals by the Saskatchewan Ministry of the Economy (the “Energy Regulator”), subject to legislation administered by the Energy Regulator, all of the Debtor’s right, title and interest in and to the Purchased Assets as described in the APA including those listed on Schedule “B” hereto shall vest absolutely in the Purchaser (or its nominee), as contemplated by the APA, free and clear of and from any and all security interests (whether contractual, statutory, registered or otherwise), hypothecs, caveats, interests, mortgages, trusts or deemed trusts (whether contractual, statutory, registered or otherwise), liens (whether contractual, statutory, registered or otherwise), encumbrances, executions, levies, charges (whether contractual, statutory, registered or otherwise), or other financial or monetary claims, assignments, actions, taxes (whether contractual, statutory, registered or otherwise), judgments, writs of execution, options, agreements, disputes, debts, debentures, easements, covenants, encumbrances or other rights, limitations or restrictions of any nature whatsoever including, without limitation, any rights or interests of any creditors of the Debtor, whether or not they have attached or been perfected, registered or filed and whether secured, unsecured, registered or otherwise and whether by payment, set off or otherwise, whether liquidated, unliquidated or contingent (collectively, the "Claims") including, without limiting the generality of the foregoing:
Vesting of Property. The Merger shall have the effect described in Section 7-131- 104 of the Act. Without limiting the generality of the foregoing, at the Effective Time, all rights, privileges, including specifically the attorney-client privilege, and powers of each of CWPDA and AGUA, all real, personal, and mixed property, and all obligations due to each of CWPDA and AGUA, as well as all other things and causes of action of each of CWPDA and AGUA, shall vest as a matter of law in the Surviving Entity and are thereafter the rights, privileges, powers, and property of, and obligations due to, the Surviving Entity.
Vesting of Property. 26 9.1 Revesting of Property..........................................................................26 ARTICLE 10 Discharge, Release and Extinguishment of Liens, Claims, Interests and Encumbrances.............26 10.1 Discharge of Debtors...........................................................................26 10.2 Exculpation....................................................................................27 ARTICLE 11 Injunction Against Enforcement of Preconfirmation Claims and Equity Interests..................28 11.1 Injunction Enjoining Holders of Claims Against Equity Interest in Debtors......................28 11.2
Vesting of Property. 16.1. All property of the Foundation, both movable and immovable, shall vest and be registered in the name of the Foundation and no Trustee or any other person shall have any rights, title or interest in the property of the Foundation.
16.2. The Foundation may not give, distribute or pay any of its income or property (both movable and immovable) to its Trustees or any other person other than in accordance with terms and conditions of clause 14 above.
16.3. Notwithstanding anything contained in this Deed of Trust, immovable property registered in the name of the Foundation may not be sold, transferred or alienated unless such sale, transfer or alienation is necessary to achieve the public benefit objectives of the Foundation and the objects for which it was established.
16.4. Any sale, transfer or alienation of immovable property registered in the name of the Foundation must be approved by a majority of not less than two-thirds of the members present and eligible to vote at a General Meeting of the Donor.
16.5. The proceeds of any sale, transfer or alienation of immovable property contemplated in clause 16.4 above, are to be invested at the discretion of the Trustees and such capital is not to be utilized, distributed or diminished in any way. Notwithstanding this, the Trustees shall be permitted to utilize the interest earned on such capital in the furtherance of the objects of the Foundation.
Vesting of Property. Upon the delivery of a Monitor’s certificate to the Purchaser (or its nominee) substantially in the form set out in Schedule “A” hereto (the "Monitor's Certificate"), all of the Sellers’ right, title and interest in and to the Acquired Assets described in section 2.1 of the Sale Agreement and listed on Schedule “B” hereto, shall vest absolutely in the name of the Purchaser (or its nominee), free and clear of and from any and all security interests (whether contractual, statutory, or otherwise), hypothecs, caveats, mortgages, trusts or deemed trusts (whether contractual, statutory, or otherwise), liens, executions, levies, charges, or other financial or monetary claims, whether or not they have attached or been perfected, registered or filed and whether secured, unsecured or otherwise (collectively, the “Claims”) including, without limiting the generality of the foregoing:
Vesting of Property. (a) Upon satisfaction of the conditions set out in Section 2.1 (which, for greater certainty, totals share issuances of 200,000 Shares and exploration expenditures of $200,000), the First Option will be deemed to be exercised, and a 30% beneficial right, title and interest in the Property will automatically vest in Maverick, free and clear of all encumbrances.
(b) Upon satisfaction of the condition set out in Section 2.3 (which, for greater certainty, totals share issuances of 200,000 Shares and cash payments of $200,000), the Second Option will be deemed to be exercised, and an additional 21% undivided beneficial right, title and interest in the Property (for a total 51% interest) will automatically vest in Maverick, free and clear of all encumbrances.
(c) The parties acknowledge and agree that registered ownership of the Property will remain in the name of Energold, unless otherwise agreed to by the parties in writing.