Existing Line Property definition

Existing Line Property means the real property described in Exhibit F to this Agreement which, subject to the terms and conditions hereof, Company shall convey to Developer or its designee by bargain and sale deed without covenant, subject to and in accordance with the terms, provisions and conditions specific to such conveyance as set forth in said Exhibit F and, generally, the terms and conditions of the Agreement.
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Existing Line Property is comprised of all or a portion of those certain parcels of land acquired in fee, together with certain appurtenant rights and interests, by New York Power and Light Corporation, Company’s predecessor, by those certain deeds dated and recorded with the Oneida County Clerk (the “Clerk”) as follows: (1) that certain deed dated September 20, 1929 and recorded with the Clerk in Book No. 899 of Deeds at Page 236; and (2) that certain deed dated September 18, 1929 and recorded with the Clerk in Book No. 899 of Deeds at Page 235, the general location and approximate bounds of said Existing Line Property being depicted on the sketch plan attached hereto as Exhibit F-1. The Parties hereby acknowledge, however, that the precise dimensions of the Existing Line Property have not been determined as of the Effective Date, and shall be determined as soon as practicable following approval of final design as contemplated herein and preparation of a metes and bounds legal description.
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Examples of Existing Line Property in a sentence

  • Developer shall conduct such inspections and investigations of the Existing Line Property as Developer deems necessary, including the physical and environmental conditions thereof, and shall rely exclusively upon same.

  • Developer represents that it is a knowledgeable, experienced and sophisticated purchaser of real estate and that it is relying solely on its own expertise and that of its attorneys and consultants in purchasing the Existing Line Property.

  • Developer acknowledges that as of the Closing Date, Company shall have afforded Developer a full opportunity to conduct such investigations as Developer deemed necessary to satisfy itself as to the condition of the Existing Line Property, and will rely solely upon same and not upon any express or implied warranties, guaranties, statements, representations or information provided to Developer by or on behalf of Company or its agents or employees with respect thereto.

  • Developer acknowledges and agrees that upon Closing, Company shall convey to Developer and Developer shall accept the Existing Line Property “AS IS, WHERE IS, WITH ALL FAULTS OF WHATEVER NATURE, WHETHER KNOWN OR UNKNOWN, SUBJECT ONLY TO THE PERMITTED EXCEPTIONS”.

  • Company shall not be required to incur any expense, take any action or commence any proceeding to remove any matter concerning title, or cure any encumbrance, lien or exception to title (except for the lien of its first mortgage indenture, as provided for herein, and any other encumbrance created by Company following the Effective Date), or otherwise to render Company’s title to the Existing Line Property marketable or insurable.

  • Anything in this Agreement to the contrary notwithstanding, Company shall have no obligation to convey the Existing Line Property unless and until Company has obtained all such required releases from the lien of Company’s first mortgage indenture, and Company shall have no liability for failure to convey the Existing Line Property due to an inability to obtain any such required release, provided that Company shall have used good faith efforts to obtain such release.

  • Following Company’s determination of the Existing Line Property Purchase Amount, Company shall provide written notice thereof to Developer (the “Purchase Amount Notice”).

  • Company shall not be liable to Developer with respect to any Hazardous Substances which may be on the Existing Line Property, Company disclaims any liability to the fullest extent provided by applicable law, and Developer releases Company from any and all such liability to the fullest extent provided by applicable law.

  • If Developer determines for any reason or for no reason in its sole discretion that the Existing Line Property is not suitable for Developer's purposes, then, prior to Developer’s delivery of the Notice to Proceed under the Agreement, Developer may elect to terminate this Agreement as provided for herein.

  • Exhibit A Scope of Company Work Exhibit B Preliminary Milestone Schedule Exhibit C Scope of Developer Work Exhibit D Insurance Requirements Exhibit E Preliminary Project Description Exhibit F Existing Line Property Description; General Terms, Provisions and Conditions of Conveyance Schedule I Real Property Standards Schedule II Environmental Due Diligence Procedure The Company Work shall consist of the Project Plan Work and the Implementation Work as described below.

Related to Existing Line Property

  • Existing Property means all property against which ad valorem property taxes were levied by a local unit for its concluding fiscal year, minus all property that is considered losses for purposes of ad valorem property tax levies of the local unit for the ensuing fiscal year.

  • Existing Leases means those leases, license agreements and occupancy agreements identified on Schedule 2.1.3, as the same may be amended or modified from time to time in accordance with the terms of this Agreement.

  • Hotel Property means a Property on which there is located an operating hotel.

  • Loan Property means any property in which the applicable party (or a Subsidiary of it) holds a security interest, and, where required by the context, includes the owner or operator of such property, but only with respect to such property. "Participation Facility" means any facility in which the applicable party (or a Subsidiary of it) participates in the management (including all property held as trustee or in any other fiduciary capacity) and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Borrowing Base Property means Eligible Property and/or Commercial Land that the Administrative Agent has agreed to include in calculations of the Borrowing Base pursuant to Section 4.1. A Property shall be excluded from the determination of the Borrowing Base if at any time such Property shall cease to be an Eligible Property.