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.
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.
Immovable Properties. Qianjun does not own any title of immovable properties.
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;...