Interest in Land. The Developer represents and warrants that it is:
Interest in Land. The rights, privileges and easements created pursuant to this Agreement, are and shall be of the same force and effect, to all intents and purposes, as a covenant running with the Easement Lands and these presents, including all of the covenants and conditions herein contained, shall extend, be binding upon and enure to the benefit of the Grantor and the Grantee, and their respective executors, administrators, successors and assigns, as the case may be. The Grantee shall have the right from time to time, in its sole discretion to grant licences, assignments or charges of, or security interests in, its rights acquired hereunder, in whole or in part, to third parties, without further consideration becoming payable to the Grantor herein. The Grantor and the Grantee agree that any such license, assignment, charge or security interest in this Agreement and the rights, privileges, and easements granted pursuant thereto, shall be declared to be appurtenant to and for the benefit of the lands and undertaking of such licensee, assignee, chargee or secured party, as the case may be. The Grantor and Grantee agrees that this Agreement, and the rights, privileges and easements granted pursuant thereto shall be declared to be: (i) appurtenant to and for the benefit of the Easement Lands, and (ii) for the purpose of electricity transmission lines or electricity distribution lines within the meaning of Part VI of the Ontario Energy Xxxxx Xxx, 0000.
Interest in Land. It is the intention of the parties that both the Royalty and the lien referred to in clause 4(d) are hereby deemed to be interests in land and run with the Lands. Payor covenants and agrees to ensure that any security interest granted with respect to the Lease or the Lands includes a provision that such security interest is subject to the prior rights and interest of the Royalty Owner.
Interest in Land. The Parties intend that the Gross Overriding Royalty constitutes an interest in the Properties and, accordingly agree that:
Interest in Land. Without limiting clause 5.1 (Further assurances), if requested by the Collateral Agent, on acquiring any interest in Material Real Property the Mortgagor shall execute a legal or statutory mortgage over that interest securing the Secured Money in the form and substance required by the Collateral Agent. The Mortgagor shall use its best efforts to register that mortgage.
Interest in Land. The Land Owner represents and warrants that it is the legal and beneficial owner of the Land, or if the Land Owner owns the Land in their capacity as trustees of a trust that it is the registered proprietor of the Land in its capacity as the trustees of the relevant trust.
Interest in Land. Somita, either directly or indirectly, has complete rights to use the land necessary for the Project, subject only to Permitted Liens.
Interest in Land. The Parties agree that, subject to the provisions of section 2.7 and to the extent permitted by applicable law, the Royalty constitutes an interest in the Property and will be a covenant running with the Property, will be enforceable as an in rem interest in land which shall run with the Property and will be binding upon and enure to the benefit of the Parties and their respective successors and assigns. It is the intention of the Parties that to the extent permissible at law, the Royalty on the Property and the Royalty Agreement shall be registerable or otherwise recordable in all public places where interests in land in respect of the Property are recordable and the Owner shall, at the Owner’s sole cost and expense, execute, deliver, file, register and record such further documents as may be necessary for the timely and effective recording or registration of a caution, conveyance, mortgage, notice or caveat in respect of this Agreement, in such public places [including any necessary translation of this Agreement into the [Spanish/Portuguese] language as may be required by applicable laws or regulations]. It is further understood that, should the Royalty not be capable of being registered or recorded against title to the Property without reference to any form of additional security for the Royalty, the Owner will cooperate fully in executing any necessary documentation in order that such additional security, as may be commercially reasonable, be registered or recorded as may be required in order to register or record the Royalty and related additional security.
Interest in Land. It is the express intention of the Parties that the Overriding Royalty herein granted by Royalty Payor to Royalty Owner shall be carved out of the Royalty Payor’s interest in the Royalty Lands and constitute, and is to be construed as, an interest in land. All terms, covenants, provisions and conditions of this Agreement shall run with and be binding upon the Royalty Lands and the Title Documents, and the estates affected thereby for the duration of this Agreement. In connection therewith, Royalty Payor acknowledges and agrees that Royalty Owner is entitled to register a caveat of its interest against Royalty Payor’s Working Interest under the Land Titles Act (Alberta) and the equivalent provincial legislation in those jurisdictions where the Royalty Lands are located. In addition, Royalty Payor agrees that from the date of this Agreement it shall record, on its Mineral Property Report for the Royalty Lands, the Overriding Royalty granted under Section 2.1 as an encumbrance against the Royalty Payor’s Working Interest in the Royalty Lands.
