Transfer of Ownership Upon Expiration or Termination Sample Clauses

Transfer of Ownership Upon Expiration or Termination. Upon the expiration or termination of this Agreement, the below ground portions of the Conversion System, the building, and the Utility Interface shall become the personal property and responsibility of the County. Contractor shall have no further responsibility with respect to the below ground portions of the Conversion System, and Utility Interface after Contractor conveys title to such equipment, free and clear of any encumbrances, liens or security interest. Notwithstanding the above, within ninety (90) days after the expiration or termination of this Agreement, County shall have the option to purchase the above-ground portions of the Conversion System including any Contractor owned transmission equipment to County for an amount equal to the Fair Market Value as determined herein below. If County elects to exercise its option, it will give Contractor written notice that it intends to purchase, all or part of the Conversion System. Should County purchase some or all of the above-ground portions of the Conversion System including any Contractor owned transmission equipment, Contractor will convey title to County free and clear from any and all liens and security interests. All property to be conveyed by Contractor under this subsection must be in good operating condition. In determining the Fair Market Value, the County shall deduct the cost, as determined by the County, of repairs required to restore the facilities to good working conditions from the purchase price. If the County chooses not to purchase the Conversion System, within ninety (90) days the Contractor shall, at its sole expense, remove all Conversion System and any associated transmission equipment except for the building from the Landfill and return the Conversion System Site beyond the confines of the building to its original condition unless otherwise agreed in writing. Nothing in this Section 12 shall be construed to create an obligation on the County to buy any portions of the Conversion System. Should Contractor fail to remove Contractor's Equipment as required under this Section 12, such property shall be deemed abandoned and shall become the property of the County. Should the County incur cost associated with the removal of abandoned equipment and/or site restoration associated with such abandonment, the Contractor shall be liable for such cost. This liability shall expire twelve (12) months after the abandonment if the County has not notified the Contractor in writing that site cle...
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Related to Transfer of Ownership Upon Expiration or Termination

  • Transfer of Responsibility on Expiry or Termination 15.1 The Contractor shall, at no cost to the Department, promptly provide such assistance and comply with such timetable as the Department may reasonably require for the purpose of ensuring an orderly transfer of responsibility upon the expiry or other termination of this Contract. The Department shall be entitled to require the provision of such assistance both prior to and, for a reasonable period of time after the expiry or other termination of this Contract.

  • Termination of Contract for Cause 5.1.1 If A-E breaches any of the covenants or conditions of this CONTRACT, COUNTY shall have the right to terminate this CONTRACT upon ten (10) days written notice prior to the effective day of termination.

  • Property Rights upon Termination or Expiration of Contract In the event the Contract is terminated for any reason, or upon its expiration State Property remains the property of the System Agency and must be returned to the System Agency by the end date of the Contract or upon System Agency’s request.

  • Termination Upon Expiration Date The Trust shall automatically terminate on December 31, 20__ (the "Expiration Date") or earlier pursuant to Section 9.02.

  • Transfer to Avoid Termination Event If either an Illegality under Section 5(b)(i)(1) or a Tax Event occurs and there is only one Affected Party, or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party, the Affected Party will, as a condition to its right to designate an Early Termination Date under Section 6(b)(iv), use all reasonable efforts (which will not require such party to incur a loss, excluding immaterial, incidental expenses) to transfer within 20 days after it gives notice under Section 6(b)(i) all its rights and obligations under this Agreement in respect of the Affected Transactions to another of its Offices or Affiliates so that such Termination Event ceases to exist. If the Affected Party is not able to make such a transfer it will give notice to the other party to that effect within such 20 day period, whereupon the other party may effect such a transfer within 30 days after the notice is given under Section 6(b)(i). Any such transfer by a party under this Section 6(b)(ii) will be subject to and conditional upon the prior written consent of the other party, which consent will not be withheld if such other party's policies in effect at such time would permit it to enter into transactions with the transferee on the terms proposed.

  • Termination Upon or Following a Change of Control (a) A Change of Control of the Company ("Change of Control") shall be deemed to have occurred upon the happening of any of the following events:

  • PROVISIONS SURVIVING EXPIRATION OR TERMINATION Notwithstanding the expiration or termination (by agreement, breach, or operation of time) of this Agreement, the provisions of this Agreement regarding payments (including liquidated damages and tax payments), reports, records, and dispute resolution of the Agreement shall survive the termination or expiration dates of this Agreement until the following occurs:

  • Dissolution Upon Expiration Date Unless earlier dissolved, the Trust shall automatically dissolve on July 30, 2040 (the “Expiration Date”), and the Trust Property shall be liquidated in accordance with Section 9.4.

  • Termination Upon Sale Notwithstanding anything to the contrary contained herein, a Party may terminate its obligations under this Agreement as to a specific operating area or portion thereof if such Party sells or otherwise transfers the area or portion thereof to a non-Affiliate in compliance with the terms and conditions of this Agreement. The selling or transferring Party shall provide the other Party with at least sixty (60) Days prior written notice of such termination, which shall be effective on the date specified in the notice. Notwithstanding termination of this Agreement as to a specific operating area, this Agreement shall remain in full force and effect in the remaining operating areas.

  • Right to Terminate Following Termination Event Sections 6(b)(ii)-(iv) are deleted in their entirety and replaced by the following:

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