Realisation Clause Samples
The 'Realisation' clause defines the process by which certain rights, assets, or interests are converted into cash or their equivalent value. Typically, this clause outlines the steps, timing, and responsibilities involved in selling, liquidating, or otherwise monetizing assets, such as in the context of a trust, estate, or secured transaction. For example, it may specify how and when a trustee should sell property to distribute proceeds to beneficiaries. The core function of this clause is to ensure a clear and orderly process for turning non-cash assets into liquid funds, thereby facilitating distributions or settlements and minimizing disputes among parties.
Realisation. 6.1. On the occurrence of a breach or failure timeously to pay or to perform any of the Obligations, Land Bank shall be entitled to:
6.1.1. enforce and receive payment for, delivery of and/or performance in respect of the Rights and Interests; and
6.1.2. demand that the Cedentaccount to Land Bank in respect of all amounts collected in respect of the Rights and Interests, and the Cedentirrevocably and unconditionally authorises and empowers Land Bank or its nominee, in rem suam and without any further authority or consent required from the Cedentand without having to obtain a court order, to:
6.1.3. exercise and/or otherwise enforce its rights under this Agreement in and to the Rights and Interests;
6.1.4. sell or otherwise realise all or some of the Rights and Interests;
6.1.5. acquire all or, at the election of Land Bank, some of the Rights and Interests at fair market value (and, in the event of any dispute as to such value, it shall be determined by an independent merchant banker agreed to by the Parties or, failing agreement, appointed by the President for the time being of the South African Institute of Chartered Accountants (or the successor body thereto), which independent merchant banker shall act as an expert and not as an arbitrator and shall determine the liability for his charges which shall be paid accordingly, provided that if any determination is manifestly unjust, and the court exercises its general power, if any, to correct such determination, the Parties shall be bound thereby);
6.1.6. to the extent that an account has been opened in terms of clause 5.4 and the Cedenthas ceded in security its right, title and interest in and to such account to Land Bank, Land Bank may exercise its rights in respect of such security cession and may appropriate the funds in such account in accordance with such security cession;
6.1.7. institute any legal proceedings which Land Bank may deem necessary in connection with any of the Rights and Interests or with the sale, purchase or other transfer of any of the Rights and Interests by Land Bankor its nominee; and
6.1.8. compromise any Right and Interest, grant any extension or other indulgence in respect of any such Right and Interest, or agree to vary the terms of any such Right and Interest, or release any security or suretyship held for any such Right and Interest.
6.2. The Cedent acknowledges that:
6.2.1. the Rights and Interests ceded by it in favour of Land Bank in terms of this Agreement are Rights and ...
Realisation. 2.1 The agreement between the Seller and the Buyer is realised and binding upon the Seller only if this is confirmed in writing by the Seller or if the Seller actually implements the agreement.
2.2 The drawings, sketches, descriptions, models and samples created or provided by the Buyer are furnished only by way of clarification. They are only binding upon mutual acceptance.
Realisation. (a) If the Chargee or any Receiver exercises the rights conferred on it by this Deed, the same shall not be treated as an absolute appropriation of or foreclosure on the Charged Assets to the exclusion of the Chargors and in extinguishment of its interests therein, unless the Chargee or any Receiver shall otherwise notify the Chargors (whether before or after the relevant appropriation or foreclosure has been effected), in which latter event the Obligations shall be reduced by an equivalent amount.
(b) In any disposal of the Charged Assets by the Chargee or any Receiver, the Chargee or any Receiver may (i) restrict the prospective bidders on or purchasers of the Charged Assets to a limited number of sophisticated investors who will represent and agree that they are purchasing for their own account for investment and not with a view to the distribution or sale of any of such Charged Assets and (ii) impose such other limitations or conditions in connection with any such sale as the Chargee or any Receiver deems necessary or advisable in order to comply with any law. The Chargors agree that, to the extent notice of such sale shall be required by applicable law, at least 10 days’ notice (or such other notice as may be required by applicable law) to the Chargors of the time and place of any public sale or the time after which any private sale is to be made shall constitute reasonable notification. The Chargee or any Receiver shall not be obligated to make any sale of Charged Assets regardless of notice of sale having been given. The Chargee or any Receiver may adjourn any public or private sale from time to time by announcement at the time and place fixed therefore, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Chargor hereby waives any claims against the Chargee arising by reason of the fact that the price at which any Charged Assets may have been sold at such a private sale was less than the price which might have been obtained at a public sale, even if the Chargee accepts the first offer received and does not offer such Charged Assets to more than one offeree. Each Chargor acknowledges that if the Charged Assets consist of securities not registered under the Securities Act, the best price obtainable for such securities in an arm’s length transaction may reflect a substantial discount from the book value of such securities.
(c) The Chargee shall not be obliged to exercise any of the rights or power...
Realisation. (a) The Relevant Obligors shall ensure that, whenever any Investment Proceeds or Investment Income is received in respect of a Permitted Investment made from amounts standing to the credit of an Account the Investment Proceeds and the Investment Income are either:
(i) reinvested in further Permitted Investments; or
(ii) paid into the relevant Account from which the Permitted Investment derives.
(b) Each Relevant Obligor shall give directions to the relevant Account Bank and otherwise exercise its rights hereunder in such manner as will ensure compliance with the applicable provisions of the Finance Documents with respect to Accounts, Permitted Investments, Investment Proceeds and Investment Income.
Realisation. The German Security shall be realised, and any enforcement proceeds shall be distributed, in accordance with the relevant provisions of the Credit Agreement together with the relevant provisions of the German Security Documents.
Realisation. 10.3.1 The Company shall ensure that, whenever any Investment Proceeds or Investment Income is received in respect of a Permitted Investment made from amounts standing to the credit of an Account:
Realisation. After the Charge has become enforceable against a Chargor, the Chargor must do anything, and ensure that its employees and agents do anything, that the Enforcing Party may reasonably require to assist it to realise the Charged Property and exercise any power, right, discretion or remedy including:
(a) execute any transfer (including any transfer in blank) of, or other document in relation to, any Charged Property;
(b) do anything that the Enforcing Party thinks is necessary or desirable under the law in force in any place where any Charged Property is situated; and
(c) give any notice, order, direction and consent that the Enforcing Party thinks is necessary or desirable.
Realisation. After the Charge has become enforceable against a Chargor, the Chargor must do anything, and ensure that its employees and agents do anything, that the Enforcing Party may reasonably require to assist it to realise the Charged Property and exercise any power, right, discretion or remedy including:
Realisation. While an Enforcement Event is continuing, the Pledgee, acting on behalf of the Pledgor, shall have the right to sell the Pledged Assets by private or public sale or auction or in any other way and on such terms as the Pledgee in its sole discretion deems fit.
Realisation. Ref No. Benefit Assessment As measured by Baseline Value Target Value Relative Importance Who Benefits? Who is responsible? Investment Objective Dependencie s Support Needed Date of Realisatio n 7 Provides wider economic and community benefits: a facility that can be used by other community groups and/ or provide a focus point for the local area and residents Qualitatively Patient, community and staff feedback. Utilisation of building. Assessment ongoing through surveys Improved feedback and high building utilisation 3 - Moderately important Patients, Public Senior Primary Care Development Manager Improve functional suitability of the healthcare estate and address long term future needs Involvement and engagement from local community Involveme nt and engageme nt from local community 12 months post operation 8 Provides sustainable practice(s) for the future which are adaptable to growth, new initiatives and changes in policy Qualitatively Patient and staff feedback Partners restricted in growth by current building Provision that enables growth and delivery of required services to local population 5 - Vital Patients, Staff, GP Partners, NHSL, WLHSCP Senior Primary Care Development Manager Improve service capacity Enable delivery of the Primary Care Improvement Plan 12 months post operation Service Change Planning Strategic Assessment Initial Agreement Outline Business Case Final BusinessCase Implementation Phase Service Change Planning Strategic Assessment Initial Agreement Outline Business Case Final BusinessCase Implementation Phase Appendix 3: Long list of options and assessment