PROPERTY USE AND FUNCTION Clause Samples
The "Property Use and Function" clause defines how a property may be used and what activities or purposes are permitted on the premises. Typically, it outlines acceptable uses, such as residential, commercial, or specific business operations, and may restrict certain activities that could cause damage or violate local laws. This clause ensures that both parties have a clear understanding of the property's intended function, helping to prevent disputes over inappropriate or unauthorized uses.
PROPERTY USE AND FUNCTION. 1.1 Party B agrees to provide to Party A a number of premises of its own ("Proprietary Property") and premises of a third party with the use right (the "Third Party's Property"), in accordance with the requirements stated by Party A from time to time. Among the premises used by Party A when this Agreement is signed, the list of self owned premises of Party B is stated in Schedule 1 to this appendix, while the list of third party's premises is stated in Schedule 2 to this appendix. Party A may, during the term of this Agreement, demand to increase or decrease the number of the premises in accordance with Party A's operational needs, and Party B shall satisfy such requirements as practicable as possible.