Alternate Land Sample Clauses
The Alternate Land clause allows for the substitution of a different parcel of land in place of the originally specified property under certain conditions. Typically, this clause outlines the criteria the alternate land must meet, such as size, location, or suitability, and may require mutual agreement or satisfaction of specific standards by both parties. Its core practical function is to provide flexibility in real estate transactions, ensuring that the agreement can proceed even if the original land becomes unavailable or unsuitable, thereby reducing the risk of deal failure due to unforeseen issues with the initial property.
Alternate Land. If the Parties elect not to remediate the Salmon Inlet Parcel or Narrows Inlet Parcels under s. 8.7 then the Parties will negotiate and make best efforts to work collaboratively to identify and to reach agreement on alternate lands as follows:
a) another parcel or parcels of land to replace the Salmon Inlet Parcel or Narrows Inlet Parcels, that may be transferred to the shíshálh Nation or a Designated Company, or
b) amendments to the boundaries of the Narrows Inlet Parcels or the Salmon Inlet Parcel as the case may be.