Physical Possession Clause Samples
The Physical Possession clause defines the point at which a party gains actual, tangible control over goods or property. In practice, this clause specifies when the buyer or recipient is considered to have received the items, such as upon delivery to a specified location or upon signing a receipt. Its core function is to clearly establish when responsibility, risk, and ownership transfer from one party to another, thereby reducing disputes over loss or damage during transit.
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Physical Possession. If Owner is unable to deliver possession of the premises at the commencement hereof, Owner shall not be liable for any damage caused thereby, nor shall this agreement be void or void able, but Tenant shall not be liable for any lease payment until possession Is delivered or made available for delivery. Tenant may terminate this agreement if possession is not delivered within 5 days of the commencement of the term hereof.
Physical Possession. Physical possession of the property, with keys and codes to all property locks, alarms, and garage door openers, will be delivered to Buyer (check one): On the date of recordation of the deed, not later than a.m., p.m.; On the day after recordation, not later than a.m., p.m. In the event possession is to be delivered before or after recordation, such possession is conditioned upon the execution by both parties of a written occupancy agreement on P.P. Form 103 or 104, or comparable form, within days after acceptance.
Physical Possession. Nothing in this Agreement shall permit the Adviser to take or receive physical possession of cash, securities or other investments of a Fund.
Physical Possession. At Closing, Seller shall deliver to Purchaser keys to the Real Property.
Physical Possession. SELLER shall remain in physical possession after Closing of the Property pursuant to the Lease Agreement described in Paragraph 26.c.
Physical Possession. If Landlord is unable to deliver possession of the premises at the commencement date set forth above, Landlord will not be liable for any damage caused, nor will this Rental Agreement be void or voidable, but Tenant will not be liable for any rent until possession is delivered. Tenant may terminate this Rental Agreement if possession is not delivered within two ( 2 ) days of the commencement of the term in paragraph one of this document.
Physical Possession. Deliver to Purchaser such of the Purchased Assets as shall be capable of physical delivery;
Physical Possession. CSXI will exercise reasonable efforts to give physical possession of Chassis and Containers only to authorized individuals. APL/LTS will provide CSXI's Director of Intermodal Operations with a complete list of all authorized entities prior to the Effective Date. Thereafter APL/LTS shall give CSXI at least five (5) days notice of any change in the identity of authorized entities.
Physical Possession. Actual physical possession of the Property subject to the Lease.
Physical Possession. Upon the occurrence of one or more Events of Default, the Lender shall have the right to obtain physical possession of the Servicing Records, the SBC Loan Files and all other files of the Borrowers relating to the Collateral with respect to such Tranche and all documents relating to the Collateral which are then or may thereafter come in to the possession of a Borrower or any third party acting for a Borrower and the Borrowers shall deliver to the Lender such assignments as the Lender shall request; provided, however, that, with respect to the Tranche B Collateral, the Lender shall first obtain the prior written consent of the SBA as required by the Multiparty Agreement. The Lender shall be entitled to specific performance of all agreements of the Borrowers contained in this Loan Agreement.