Interest in the Property Clause Samples
The 'Interest in the Property' clause defines the rights, claims, or legal stake that a party holds in a specific property. This clause typically outlines whether a party has ownership, a leasehold, an easement, or another form of interest, and may specify the extent and limitations of those rights. For example, it can clarify if a buyer acquires full title or if a lender holds a security interest until a loan is repaid. Its core function is to clearly establish the nature and scope of each party's legal relationship to the property, thereby preventing disputes and ensuring all parties understand their rights and obligations.
Interest in the Property. The Parties intend that the Royalty, to the maximum extent permissible under applicable Law, constitutes an interest in the Property and agree that:
(a) the Royalty will run with the Property and the title to the Property, and any disposition or transfer of the Property, or any interest in the Property, will be subject to the Royalty;
(b) any sale or other disposition by the Company of any interest in the Property will be effective only in accordance with Section 8.3;
(c) the Royalty Holder’s entitlement to any payments due on account of the Royalty will arise at the time of the production of Product, and all such payments will be held by the Company in trust for the Royalty Holder until paid to the Royalty Holder in accordance with the provisions of this Agreement;
(d) to the maximum extent possible under applicable Law, the Company will, upon request by the Royalty Holder, sign and deliver to the Royalty Holder, and the Royalty Holder may register or otherwise record (or require the Company to register or otherwise record) against the Property, this Agreement or a notice of this Agreement, and any other similar document or documents as the Royalty Holder may request that will have the effect of giving notice of the existence of the Royalty to third Persons, and protecting the Royalty Holder’s right to receive the Royalty and the performance by the Company of the other covenants and obligations under this Agreement;
(e) if any renewal, extension, modification, substitution, amalgamation, succession, conversion, demise to lease, renaming or variation of any mineral right is granted as contemplated in the definition of Property, the Company agrees if permissible under Law, to execute and deliver such document or documents as the Royalty Holder may reasonably request to acknowledge that the Royalty is applicable to the same including any registration or recording document of any nature whatsoever, inclusive of those contemplated in Section 2.2(d); and
(f) without limiting the generality of the foregoing, the Company shall, the maximum extent possible under the UNCLOS and the regulations of the ISA, take all steps and actions necessary, including seeking consent of the ISA and any sponsoring state, to register the Royalty as an Encumbrance on any exploitation contract granted to the Company by the ISA, provided nothing shall require the Royalty Holder to fulfil qualification criteria under UNCLOS; provided that any Encumbrance granted to the Royalty Holder he...
Interest in the Property. The Parties intend that the Royalty, to the extent permissible under applicable laws, constitutes an interest in the Property and agree that:
10.2.1 the Royalty will run with the title to the Property, and any disposition or transfer of the Property, or any interest therein, shall be subject to the Royalty;
10.2.2 any sale or other disposition by the Payor of any interest in the Property will be effected only in accordance with Section 8.3 hereof;
10.2.3 the Payor will, upon request by the Recipient, sign and deliver to the Recipient, and the Recipient may register or otherwise record against the Property, this Royalty Agreement or a notice of this Royalty Agreement, that will have the effect of giving notice of the existence of the Royalty to third Persons and protecting the Recipient’s right to receive the Royalty;
10.2.4 the Recipient may at any time require the Payor or its Affiliates to grant to it a mortgage or security interest over the Property or other security interest in Products extracted from the Property to secure the payment of the Royalty and the covenants and obligations under the Royalty Agreement. The mortgage and/or security documents shall be in a form acceptable to the Payor and the Recipient each acting reasonably; and
10.2.5 if any Additional Property is acquired by or is granted to the Payor, or if any renewal, extension, modification, substitution, amalgamation, succession, conversion, demise to lease, renaming or variation of any mining right is granted as contemplated in the definition of Property, the Payor agrees to execute and deliver such document or documents as the Recipient may reasonably request to acknowledge that the Royalty or any mortgage or security interest is applicable thereto including, without limitation, any registration or recording document of any nature whatsoever, inclusive of those contemplated in Subsection 2.2(c).
Interest in the Property. To the knowledge of Almaden and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ is the beneficial owner of an undivided 30% interest in the Caballo ▇▇▇▇▇▇ Property and the registered owner of 100% interest in the Caballo ▇▇▇▇▇▇ Property, free and clear of any and all Encumbrances, subject to the Existing Encumbrances and the Caballo Option Agreement;
Interest in the Property. To the knowledge of Goldgroup and Candymin, neither Goldgroup nor Candymin have entered into any contract or done any act whereby the El Cobre Interest has been or may become impaired or encumbered or subject to an adverse interest;
Interest in the Property. The Parties intend that the Royalty, to the extent permissible under Applicable Law, constitutes an interest in the Property and agree that:
(1) the Royalty will run with the title to the Property, and any disposition or transfer of the Property, or any interest therein, shall be subject to the Royalty;
(2) any sale or other disposition by the Payor of any interest in the Property will be effective only in accordance with Section 8.2 hereof;
(3) the Payor will, upon request by the Recipient, sign and deliver to the Recipient, and the Recipient may register or otherwise record against the Property, this Royalty Agreement or a notice of this Royalty Agreement, and any other similar document or documents as the Recipient may reasonably request that will have the effect of giving notice of the existence of the Royalty to third Persons, protecting the Recipient's right to receive the Royalty, and securing payment of the Royalty and the covenants and obligations of the Payor under this Royalty Agreement; and
(4) if any Additional Property is acquired, the Payor agrees to execute and deliver such document or documents as the Recipient may reasonably request to acknowledge that the Royalty is applicable thereto including, without limitation, any registration or recording document of the nature contemplated in Subsection 2.3(3).
Interest in the Property. Other than with respect to the Concession (which is addressed in paragraph 7(f) below), the Seller is the beneficial owner or holder of the Property listed in Schedule E, free and clear of all Encumbrances except Permitted Encumbrances. The Seller’s interests and rights in the Property are in good standing and to the extent required have been properly registered and recorded in compliance with Applicable Laws, Regulatory Approvals, and Permits, and, subject to the rights of any Governmental Authority having jurisdiction, no person has any adverse or competing claim in the Property except in each case where failure to have such standing, to make such registrations and recordings, or such adverse or competing claim would not result in a Material Adverse Effect.