Land Acquisition Limitation Sample Clauses
The Land Acquisition Limitation clause restricts the ability of a party to acquire certain parcels of land or property interests during the term of an agreement. Typically, this clause sets boundaries on the geographic area, type, or size of land that can be purchased, or may require prior written consent before any acquisition is made. Its core function is to prevent conflicts of interest, speculative purchases, or actions that could undermine the objectives of the agreement, thereby ensuring that land transactions remain aligned with the parties' mutual interests.
Land Acquisition Limitation. The Company will not use, directly or indirectly, 25% or more of the net proceeds of the Bonds for the acquisition of land or an interest therein.
Land Acquisition Limitation. The Borrower will not use, --------------------------- directly or indirectly, 25% or more of the net proceeds of the Bonds for the acquisition of land or an interest therein.