Perpetuity Clause Samples

Perpetuity. 1) The Subrecipient agrees the Project is being acquired or developed with Land and Water Conservation Fund assistance and shall be maintained in perpetuity for public outdoor recreation. If Subrecipient removes the Project from outdoor public recreation either through the sale of the project area or a conversion to a non-outdoor public recreation, the Subrecipient acknowledges it is responsible for all costs associated with the replacement of the converted Project area and the subsequent construction of a new facility. Any replacement of the Project, in whole or in part, must be completed in compliance with the Manual and the Act. All conversion/replacement processes must be coordinated through and with the approval of the Department and NPS. 2) The Department shall approve such conversion only if it is in accord with the then existing State Comprehensive Outdoor Recreation Plan and only upon such conditions as deemed necessary to assure the substitution of other recreation properties of at least equal fair market value and of reasonable equivalent usefulness and location pursuant to Title 36 Part 59.3 of the Code of Federal Regulations. This replacement becomes subject to Section 6(f)(3)

Perpetuity. If any term of provisions of this Indenture would but for this provision be void in whole or in part under the rule against perpetuities then such term or provision or part shall to that extent be read and construed as if there had been included therein a restriction limiting the vesting of future interest in property thereby purported to be vested to the Perpetuity Period.

Perpetuity. The term of this Agreement commences on the Effective Date and continues perpetually as long as there exist any Licensed Motorola Patents, Licensed Mobility Patents, and any Non-Patent Intellectual Property Rights in any Licensed Motorola Technology or any Licensed Mobility Technology, subject to an earlier expiration of any right or obligation under this Agreement if and to the extent such expiration is expressly set forth in this Agreement. This Agreement shall expire once the last existing Licensed Motorola Patent, Licensed Mobility Patent, and Non-Patent Intellectual Property Right in any Licensed Motorola Technology or any Licensed Mobility Technology irretrievably ceases to exist.

Perpetuity. The Tenant shall hold the rights under this Addendum in perpetuity (endless duration) without the option of being revoked by the Landlord. ☐ - Other. [OTHER TERM].

Perpetuity. The Easement and Restrictions shall continue in perpetuity. IN WITNESS WHEREOF the parties hereto have executed this Agreement. ________________________________ _____________________________ Witness _________________________ Grantor Per:________________________________ Name: Position: Per:________________________________ Name: Position: We have authority to bind the Corporation. Attached to and forming part of the Conservation Easement Agreement between Grantor and the Oak Ridges Moraine Land Trust, dated as of the day of __________________, ________ PIN __________________________; being Lot ______________ Concession _________________ Attached to and forming part of the Conservation Easement Agreement between Grantor and the Oak Ridges Moraine Land Trust, dated as of the ____ day of __________________, _. The ORMLT shall complete a Report at its expense within a reasonable time of the date of the Agreement. When the Report has been completed, the Owner agrees to sign an acknowledgement in the Report to confirm the photographs, maps and written information are accurate depictions and descriptions of the Property and its natural values and features, wildlife and uses. A signed copy of the Report will be provided to the Owner and an originally signed copy of the Report will be filed at the offices of the ORMLT.

Perpetuity. The Royalty shall be perpetual as shall be permitted by Applicable Law. If a court of competent jurisdiction determines that any provision hereof violates a legal rule against perpetuities, then such provision shall automatically be revised and reformed as necessary in order for the Royalty to terminate on the end of the maximum time permitted under Applicable Law for the Royalty to be valid.

Perpetuity. The provisions of this Agreement shall bind both PARTIES in perpetuity.

Perpetuity. This clause remains effective in perpetuity even if the Agreement is terminated under the provisions of Clause 5.

Perpetuity. Subject to section 8.12, the Royalty created hereby shall be perpetual, it being the intent of the Parties hereto that, to the extent allowed by law, the Royalty shall constitute a vested interest in and a covenant running with the land affecting the Sagar Property and all successions thereof whether created privately or through governmental action and, subject to the provisions of section 8.10 of this Agreement, shall inure to the benefit of and be binding upon the Parties and their respective legal representatives, successors and assigns so long as the Operator or any successor or assignee of the Operator holds any rights or interests in the Sagar Property. In the event a court of competent jurisdiction determines that any right, power or interest of any Party under this Agreement would violate the rule against perpetuities, then such right, power or interest shall terminate at the expiration of twenty (20) years after the death of the last survivor of all lineal descendants of Her Majesty, Queen ▇▇▇▇▇▇▇▇▇ ▇▇ of England, living on the Effective Date of this Agreement. This Agreement shall not be terminated solely as a result of a violation of the rule against perpetuities.