Right of Reverter. The Agency shall have the additional right, at its option, to reenter and take, possession of the Site with all improvements thereon and revest in the Agency the estate theretofore conveyed to the Redeveloper, if after conveyance of title to the Site and prior to recordation of the Certificate of Completion, the Redeveloper shall:
Right of Reverter. (a) In the event that, following Close of Escrow, there is an Event of Default and such Event of Default occurs prior to issuance of a Certificate of Completion for the Improvements, then the County has the right to reenter and take possession of the Property and all improvements thereon and to revest in the County the estate of Developer in the Property. Developer agrees to execute such documents as reasonably necessary to cause Developer's interest in the Property to revert and revest in the County.
Right of Reverter. This Assignment Agreement with Contingent Right of Reverter (hereafter the “Agreement”) is made effective as of August 10, 2002 (the “Effective Date”) by and between Alchemy Ventures, Ltd., a British Columbia, Canada corporation (“ALY”), and Idaho Industrial Minerals, LLC., and Idaho limited liability company (“IIM”), Northwest Kaolin, Inc., an Idaho corporation (“NWK”). (Collectively, referred to hereinafter as the “Parties.”)
Right of Reverter. Xxxxxxxx’s agreement to enter into this Lease is specifically conditioned upon Tenant’s timely completion of renovations and improvements necessary to open Premises for business to the general public, as such this Agreement and any leasehold deed shall be conditioned as follows. If Tenant has not completed initial construction of the improvements sufficient to open Premises for business to the general public within twelve (12) months of the Effective Date plus any applicable extension of time granted by the terms of this Lease and shall fail to cure within 60 days following receipt of written notice of such failure, this Lease shall terminate and all right, title and interest of Tenant in the Lease, Premises and all Improvements and other property located on Premises shall immediately revert to Landlord with no recourse or defense available to Tenant immediately upon receipt of written notice from Landlord to Tenant of Xxxxxxxx’s intent to re-enter and take possession of the Premises (the “Reverter Notice”). Notwithstanding anything else contained hereunto the contrary, if Xxxxxx has applied for final approval to allow the Premises to be opened for business to the general public, but such approval has not been issued due to no fault of Tenant, or its agents or contractors, then Tenant shall not be deemed to be in default and no such notice of default shall be valid. Coincident with Landlord’s giving such a notice of breach or a Reverter Notice to Tenant, Landlord shall furnish a copy of such notice of breach or Reverter Notice to any mortgagees of record holding an interest in Premises, the rights and obligations of any such mortgagee shall be determined at that time in accordance with Section 30.
Right of Reverter. (a) In the event that, following close of escrow, this Agreement is terminated pursuant to Section 8.4 and such termination occurs prior to issuance of a Certificate of Completion for the Development, then the City shall have the right to reenter and take possession of the Property and to revest in the City the estate of the Developer in the Property. Upon revesting in the City of title to the Property the City shall promptly use its best efforts to resell it. Upon any sale or contract for development the proceeds shall be applied as follows:
Right of Reverter. (a) In the event that, following the Close of Escrow, this Agreement is terminated pursuant to Section 7.4 and such termination occurs prior to issuance of a Certificate of Completion for the Improvements, then the County shall have the right to reenter and take possession of the Property and all improvements thereon and to revest in the County the estate of the Developer in the Property.
Right of Reverter. If applicable, the County may exercise its rights under Section 2.04 above.
Right of Reverter. If after conveyance of the Property, Developer fails to meet the Schedule of Performance within the time required under Section 4.2 of this Agreement, provided that Developer has not obtained an extension or postponement to which the Developer may be entitled pursuant to this Agreement, upon recordation of a notice of exercise of reverter, title shall automatically revest in the Authority and the Authority may reenter and take possession of the Property or any portion thereof with all improvements thereon and terminate any estate the Developer may have in the Property.
Right of Reverter. The term “
Right of Reverter. 55 12.07 Survival.......................................................56 12.08 Modification of Terms and Conditions and Extensions of Time....56 12.09
