Immovable Properties Clause Samples

The 'Immovable Properties' clause defines the rules and conditions that apply to real estate or land involved in the agreement. It typically outlines the rights, responsibilities, and restrictions related to the ownership, use, or transfer of such properties, including details like boundaries, permitted uses, or maintenance obligations. By clearly specifying these terms, the clause helps prevent disputes over property rights and ensures all parties understand their obligations regarding immovable assets.
Immovable Properties. That the immovable properties purchased by the LLP shall be clear, marketable and free from all encumbrances.
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Immovable Properties. Delivery of possession of the Immovable Properties will take place on the Delivery Date, by the Seller placing the Purchaser in control and possession of the Immovable Properties. Certain post-Closing obligations in relation to the Immovable Properties are contained in clause 11.3.
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Immovable Properties. Qianjun does not own any title of immovable properties.
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Immovable Properties. 11.3.1 The Seller and the Purchaser agree that they will for the sake of convenience, no later than 14 days after the Effective Date, enter into one or more short form sale agreements ("Short Form Sale Agreements") in respect of the Immovable Properties. Each Short Form Sale Agreement will be substantially on the terms of this Agreement, insofar as such terms apply to the Immovable Properties and the transfer thereof, and this clause 11.3. Should there be any conflict between the terms of this Agreement and any such Short Form Sale Agreement, the terms of this Agreement shall prevail. Clauses which are customarily contained in agreements of sale of land but are not contained in this Agreement will not be regarded as being in conflict with this Agreement solely because they are not recorded in this clause 11.3. Without derogating from the foregoing, each Short Form Sale Agreement will reflect the provisions in clauses 11.3.2, 11.3.3, 11.3.4, 11.3.5, 11.3.6 and 11.3.7. If, for any reason, any Short Form Sale Agreements are not entered into, the provisions of this Agreement will continue to apply, and will govern the sale of the Immovable Properties to the Purchaser. 11.3.2 The Seller shall transfer ownership of the Immovable Properties to the Purchaser by registration of transfer thereof to the Purchaser in the appropriate Deeds Registry Office (at the Purchaser's expense, with the Purchaser agreeing to settle all amounts requested by the Transferring Attorneys in this regard) as soon as possible after the Delivery Date, after the grant of all required consents, clearances and approvals. With effect from the Delivery Date, the Seller and the Purchaser agree that: 11.3.2.1 the Purchaser shall be liable for all rates, Taxes, levies and similar imposts (including any provision made by the relevant local authority for utility consumption accounts) levied in respect of the Immovable Properties; 11.3.2.2 the Purchaser shall be entitled free of charge, to the use and enjoyment of the Immovable Properties (at its own risk) as if it were the owner thereof (but subject to the terms of the Related Transaction Agreements) even if transfer takes place after that date, provided that the Seller shall not be obliged to give vacant occupation of any Immovable Property subject to a lease, use or similar agreement, occupied by a Transferring Employee or occupied by any third party whether or not such third party has a legal right to be in occupation of such Immovable Property;...
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Related to Immovable Properties

  • INCOME FROM IMMOVABLE PROPERTY 1. Income derived by a resident of a Contracting State from immovable property (including income from agriculture or forestry) situated in the other Contracting State may be taxed in that other State. 2. The term "immovable property" shall have the meaning which it has under the law of the Contracting State in which the property in question is situated. The term shall in any case include property accessory to immovable property, livestock and equipment used in agriculture and forestry, rights to which the provisions of general law respecting landed property apply, usufruct of immovable property and rights to variable or fixed payments as consideration for the working of, or the right to work, mineral deposits, sources and other natural resources; ships, boats and aircraft shall not be regarded as immovable property. 3. The provisions of paragraph 1 shall apply to income derived from the direct use, letting, or use in any other form of immovable property. 4. The provisions of paragraphs 1 and 3 shall also apply to the income from immovable property of an enterprise and to income from immovable property used for the performance of independent personal services.

  • Leaseholds If the Mortgage Loan is secured by a long-term residential lease, (1) the lessor under the lease holds a fee simple interest in the land; (2) the terms of such lease expressly permit the mortgaging of the leasehold estate, the assignment of the lease without the lessor's consent and the acquisition by the holder of the Mortgage of the rights of the lessee upon foreclosure or assignment in lieu of foreclosure or provide the holder of the Mortgage with substantially similar protections; (3) the terms of such lease do not (a) allow the termination thereof upon the lessee's default without the holder of the Mortgage being entitled to receive written notice of, and opportunity to cure, such default, (b) allow the termination of the lease in the event of damage or destruction as long as the Mortgage is in existence, (c) prohibit the holder of the Mortgage from being insured (or receiving proceeds of insurance) under the hazard insurance policy or policies relating to the Mortgaged Property or (d) permit any increase in rent other than pre-established increases set forth in the lease; (4) the original term of such lease is not less than 15 years; (5) the term of such lease does not terminate earlier than five years after the maturity date of the Mortgage Note; and (6) the Mortgaged Property is located in a jurisdiction in which the use of leasehold estates in transferring ownership in residential properties is a widely accepted practice;

  • B8 Property Where the Client issues Property free of charge to the Contractor such Property shall be and remain the property of the Client and the Contractor irrevocably licences the Client and its agents to enter upon any premises of the Contractor during normal business hours on reasonable notice to recover any such Property. The Contractor shall not in any circumstances have a lien or any other interest on the Property and the Contractor shall at all times possess the Property as fiduciary agent and bailee of the Client. The Contractor shall take all reasonable steps to ensure that the title of the Client to the Property and the exclusion of any such lien or other interest are brought to the notice of all sub-contractors and other appropriate persons and shall, at the Client’s request, store the Property separately and ensure that it is clearly identifiable as belonging to the Client.

  • Real Property; Leasehold (a) No Acquired Corporation owns any, nor has any Acquired Corporation ever owned any, real property, nor is any Acquired Corporation party to any agreement to purchase or sell any real property. (b) Part ?3.8(b) of the Disclosure Schedule sets forth a list of each lease, sublease or other agreement (the “Company Leases”) pursuant to which any of the Acquired Corporations leases real property from any other Person. (All real property leased to the Acquired Corporations, including all buildings, structures, fixtures and other improvements leased to the Acquired Corporations, are referred to as the “Leased Real Property”). The present use and operation of the Leased Real Property is authorized by, and is in compliance in all material respects with, all applicable zoning, land use, building, fire, health, labor, safety and environmental laws and other Legal Requirements. There is no Legal Proceeding pending, or to the knowledge of the Company threatened, that challenges or adversely affects, or would challenge or adversely affect, the continuation of the present ownership, use or operation of any Leased Real Property. To the knowledge of the Company, there is no existing plan or study by any Governmental Body or by any other Person that challenges or otherwise adversely affects the continuation of the present ownership, use or operation of any Leased Real Property. There are no subleases, licenses, occupancy agreements or other contractual obligations that grant the right of use or occupancy of any of the Leased Real Property to any Person other than the Acquired Corporations, and there is no Person in possession of any of the Leased Real Property other than the Acquired Corporations. Each of the Acquired Corporations has complied in all material respects with the terms of all leases (to which they are parties) relating to the Leased Real Property, and all such leases are in full force and effect in all material respects. To the knowledge of the Company, the Leased Real Property is in good operating condition and repair. The Company has Made Available to Parent accurate and complete copies of all leases, subleases or other material agreements pursuant to which any of the Acquired Corporations leases real property from any other Person. To the knowledge of the Company, no Acquired Corporation is party to any Contract or subject to any claim that may require the payment of any real estate brokerage commissions, and no commission is owed with respect to any of the Leased Real Property.

  • Leasehold Interests Each lease or agreement to which the Company is a party under which it is a lessee of any property, real or personal, is a valid and subsisting agreement without any default of the Company thereunder and, to the best of the Company's knowledge, without any default thereunder of any other party thereto. No event has occurred and is continuing which, with due notice or lapse of time or both, would constitute a default or event of default by the Company under any such lease or agreement or, to the best of the Company's knowledge, by any other party thereto. The Company's possession of such property has not been disturbed and, to the best of the Company's knowledge, no claim has been asserted against the Company adverse to its rights in such leasehold interests.