Property to be Sold and Purchased Clause Samples
The "Property to be Sold and Purchased" clause defines exactly what asset or real estate is being transferred from the seller to the buyer under the agreement. It typically specifies the address, legal description, and any included fixtures or exclusions, ensuring both parties are clear on the subject of the transaction. This clause is essential for preventing disputes by clearly identifying the property involved and setting the scope of what is being bought and sold.
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Property to be Sold and Purchased. Seller agrees to sell and Buyer agrees to purchase, for the consideration hereinafter set forth, and subject to the terms and provisions herein contained, all right, title and interest of Seller in and to that certain net profits overriding royalty interest (herein called the "NPI")that was conveyed to Seller in that certain Net Profits Interest Conveyance (the "NPI CONVEYANCE") from Meridian Oil Production Inc. dated May 1, 1993 recorded as shown on EXHIBIT 1 hereto.
Property to be Sold and Purchased. Seller agrees to sell, and Buyer agrees to purchase, for the consideration herein set forth, and subject to the terms and provisions herein contained, the following described Properties, rights, and interests:
(a) All rights, titles, and interests of Seller in and to: 1) the oil, gas, and mineral leases described in Exhibit A hereto; and 2) the ▇▇▇▇▇ described in Exhibit B hereto;
(b) All rights, titles, and interests of Seller in and to, or otherwise derived from, all presently existing and valid oil, gas, and mineral unitization, pooling, and communitization agreements, declarations, and orders (including, without limitation, all units formed under orders, rules, regulations, or other official acts of any federal, state, or other authority having jurisdiction, and voluntary unitization agreements, designations, and declarations) relating to the properties described in subsection 1.
(a) to the extent such rights, titles, and interests are attributable to the properties described in subsection 1.(a);
(c) All rights, titles, and interests of Seller in and to all presently existing and valid production sales contracts, operating agreements, and other agreements and contracts that relate to any of the properties described in subsections 1.a. and 1.b., to the extent such rights, titles, and interests are assignable and attributable to the properties described in subsections 1.(a) and 1.(b);
(d) All rights, titles, and interests of Seller in and to all rights-of-way, easements, surface leases, permits, and licenses appurtenant to the properties described in subsections 1.
(a) and 1.(b); and
(e) All rights, titles, and interests of Seller in and to all materials, supplies, machinery, equipment, improvements, and other personal property and fixtures (including, but not limited to, wellhead equipment, pumping units, flowlines, tanks, buildings, injection facilities, saltwater disposal facilities, compression facilities, gathering systems, and other equipment) located on the properties described in subsections 1.(a) and 1.(b) and used in connection with the exploration, development, operation, or maintenance thereof.
Property to be Sold and Purchased. Sellers agree to sell and Buyer agrees to purchase, for the consideration hereinafter set forth, and subject to the terms and provisions herein contained, the following described properties, rights and interests (except to the extent any of the same constitute any Excluded Assets, as defined below):
(a) The respective undivided Working Interests (as hereinafter defined) and Net Revenue Interests (as hereinafter defined) in and to, together with all of Sellers’ other rights, titles and interests in and to, the oil, gas and/or mineral leases or leasehold interests described in Exhibit A hereto and all lands covered by said leases and leasehold interests, mineral and surface fee interests, royalty and overriding royalty interests, and any rights and interests attributable to any of the foregoing interests by virtue of any pooling, unitization, communitization, operating or other agreements, and in and to any ratifications and/or amendments to such leases, all being subject to any reservations, depth limitations, or other restrictions in or under the same (collectively the “Oil and Gas Properties”); and
(b) All rights, titles and interests of Sellers in and to all contracts and agreements relating to the Oil and Gas Properties including but not limited to production sales contracts, operating agreements, unit agreements, processing agreements, transportation agreements, farmout agreements, development agreements, and tax partnerships, and any other contracts and agreements that are listed on Exhibit B hereto which relate to any of the Oil and Gas Properties, to the extent and only to the extent, such rights, titles and interests are attributable to the Oil and Gas Properties (collectively the “Contracts”); and
(c) All of Sellers’ rights, titles and interests in and to, all ▇▇▇▇▇ (including oil and gas ▇▇▇▇▇ and wellbores), materials, supplies, machinery, equipment, improvements and other personal property and fixtures (including but not limited to all casing, pipelines, ▇▇▇▇▇, wellhead equipment, pumping units, flowlines, tanks, buildings, injection facilities, saltwater disposal facilities, compression facilities, gathering systems, and other inventory and equipment) located on the Oil and Gas Properties and used in connection with the exploration, development, operation or maintenance thereof, to the extent, and only to the extent, such rights, titles and interests are attributable to the Oil and Gas Properties (collectively the “Personal Property”); and
(d)...
Property to be Sold and Purchased. Seller agrees to sell and Buyer agrees to purchase, for the consideration hereinafter set forth, and subject to the terms and provisions herein contained, the following described properties, rights and interests.
Property to be Sold and Purchased. Seller agrees to sell, and Buyer agrees to purchase, for the consideration hereinafter set forth, and subject to the terms and provisions herein contained, all rights, titles, and interests of Seller in and to the PPA;
Property to be Sold and Purchased. Subject to the terms and conditions of this Agreement, the Buyer agrees to purchase and the Sellers agree to sell, assign, convey and deliver to the Buyer at Closing, but effective as of 7:00 a.m. CST on December 1, 2001 (the "Effective Time") all of the right, title and interest of the Sellers in all oil, gas and mineral properties and interests located in the counties and states listed in Schedule "1" attached hereto and made a part hereof (the "Interests"). The Interests will include, without limitation, all of the Sellers' right, title and interest in and to:
Property to be Sold and Purchased. For the consideration herein set forth, the Seller agrees to sell to Buyer, and Buyer agrees to purchase from Seller, the real and personal property hereinafter described, to wit:
(a) The real property situated in ▇▇▇▇▇▇ County, Florida and described in Exhibit “A”, attached hereto and made a part hereof, together with all right, title and interest of Seller in and to all easements, rights-of-way, privileges, and appurtenances belonging or in anywise appertaining to the real property described in Exhibit “A”, and together with all right, title and interest, if any, of Seller in and to any land lying in the bed of any street, road or avenue, opened or proposed in front of or adjoining said real property, to the center line thereof, and all right, title and interest of Seller in and to any condemnation award relating to the said property, whether payable by virtue of a taking of any portion of the property, by virtue of the change in grade of any street adjoining or abutting said property, or otherwise, and all mineral rights to any surface or subsurface minerals or other marketable materials or substances (said real property and the rights, interests and estates appurtenant thereto as above-described in this Subsection 2(a), are hereinafter collectively referred to as the “Land”).
(b) All citrus trees or other agricultural or commercial product, buildings, fixtures and improvements of whatsoever kind, nature or description owned by Seller and presently situated on, in or under, or hereafter erected, installed or placed on or under the Land (hereinafter collectively referred to as the “Improvements”).
(c) All of Seller’s right, title and interest in and to all personal property of every kind and nature owned by Seller and now or hereafter attached, installed, located and/or situated in, on, under or about the Land and/or the Improvements, including, but not by way of limitation: (i) all flooring materials, window treatments, floor coverings and furniture situated in or on any part of the Improvements; (ii) all heating, lighting, refrigerating, plumbing, ventilating, incinerating, water heating, cooking, cooling, heating and air conditioning equipment, fixtures and appliances, engines and machinery, signs, utility service devices, connections and meters, pumps, motors, awnings, boilers, furnaces and pipes used in connection with the use, operation, maintenance or enjoyment of the Land and Improvements; (iii) all cultivation, and/or maintenance tools and equip...
Property to be Sold and Purchased. In consideration of the mutual covenants and conditions hereinafter contained, Seller agrees to sell, transfer and assign to and Buyer agrees to purchase, for the consideration hereinafter set forth, and subject to the terms and provisions herein contained, an undivided ten (10%) percent of 8/8ths working interest in and to the oil and gas options, leases and other property rights described below:
(a) The options and oil and gas mineral leases (collectively, the “Leases”) are described in Exhibits “A-1” and “A-2” attached hereto and made a part hereof;
(b) The surface rights, easements, licenses, permits and similar rights and interest owned or exercised by Seller relating to the Leases or lands pooled therewith;
(c) All agreements, contracts and contractual rights, obligations and interests of any kind and nature relating to the Leases or lands pooled therewith; and
(d) To the extent transferable, the seismic, geological, geochemical, or geophysical data in the possession of Seller relating to the Leases or lands pooled therewith. Seller’s interest in all of the foregoing shall be referred to collectively as the “Property.” Buyer’s ten (10%) percent of 8/8ths oil and gas working interest in the Property is sometimes hereinafter referred to as the “Purchased Working Interest.”
Property to be Sold and Purchased. Seller agrees to sell and Buyer agrees to purchase, for the consideration hereinafter set forth, and subject to the terms, conditions, and covenants contained herein, (including without limitation Section 1.2 below) the following described properties, rights and interests:
(a) Oil and Gas Leases. All right, title and interest of Seller in and to the oil, gas and/or mineral leases described on Exhibit 1.1
(a) hereto (and any ratifications and/or amendments to such leases, whether or not such ratifications or amendments are described on such Exhibit 1.1(a)) insofar as such leases (and such ratifications and amendments) cover the lands and depths described on such Exhibit 1.1(a); and
Property to be Sold and Purchased. Upon and subject to the terms, covenants and conditions hereinafter set forth, Seller shall sell and convey to Purchaser and Purchaser shall purchase and acquire from Seller, on the Date of Closing (as hereinafter defined) all right, title and interest of Seller in and to Parcel 760126200 (▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇) and Parcel 760167100 (▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇) as depicted on the attached Exhibit A located in Menasha, Wisconsin, the property attached to it and contents ("Property"). Beyond general fixtures, the purchase will include items of personal property which are expected to be transferred to the parties by the University of Wisconsin Board of Regents.
