Conditional Transfer Clause Samples
A Conditional Transfer clause establishes that the transfer of certain rights, assets, or obligations will only occur if specific conditions are met. In practice, this means that the parties must satisfy predefined requirements—such as obtaining regulatory approval, completing due diligence, or achieving certain milestones—before the transfer becomes effective. This clause ensures that the transfer only takes place when all agreed-upon criteria are fulfilled, thereby protecting parties from premature or unintended transfers and allocating risk based on the satisfaction of those conditions.
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Conditional Transfer. The parties specifically agree that no transfer, conveyance, assignment, or sale of Assets, as contemplated under this Agreement, take place on the Effective Date of Agreement. The parties specifically agree that all transfer, conveyance, assignment or sale of Assets, as contemplated under this Agreement, will only take place in the event of the Transfer.
Conditional Transfer. Within sixty (60) days after the Parties’ execution of this Agreement, Owner shall conditionally transfer the Property to TRC using a deed substantially in the form attached hereto as Exhibit B (the “Transfer Deed”), in accordance with and subject to all the terms and conditions of this Agreement, which Transfer Deed shall reserve to Owner the Royalty provided for herein. Owner’s conveyance of the Property shall be secured by (1) a deed of trust listing Owner as the beneficiary a form of which is attached hereto as Exhibit D (“Deed of Trust”), which Deed of Trust shall be executed by TRC and recorded in the official records of Inyo County, California immediately after recording of the Transfer Deed and prior to TRC’s causing any physical disturbance on the Property, but in any event within thirty (30) days after TRC’s receipt of the Transfer Deed, and (2) a duly executed and recordable reconveyance deed substantially in the form attached hereto as Exhibit C (the “Reconveyance Deed”), which shall be held in escrow in the Law offices of Deconcini, McDonald, Yetwin & ▇▇▇▇, P.C. (“DMYL”) with instructions to the deliver the Reconveyance Deed to Owner if the Option to purchase the Property expires or upon the termination of this Agreement caused by any breach thereof by TRC. TRC shall execute and deliver to DMYL the Reconveyance Deed prior to Owner’s obligation to deliver to TRC the Transfer Deed. Within thirty (30) days after the Transfer Deed is recorded, TRC shall prepare and file with the BLM a notice of transfer of interest for all unpatented mining claims within the Property, pay all required filing fees, and provide a copy of the same to Owner.
Conditional Transfer