NIC Property definition

NIC Property means (Prior to Closing, Olsson Associates needs to prepare the legal description of NIC, including Area A and Area B). Titleholder: University, subject to the Master Lease Agreement.
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Examples of NIC Property in a sentence

  • This Easement shall be permanent and shall be appurtenant to and run with the above described Easement Premises for the benefit of the City Property and the NIC Property.

  • Responsibility for the operation, maintenance, repair and replacement costs of the Easement Premises shall rest with the City and no responsibility thereof shall accrue to the owner of the NIC Property by reason of the NIC Property’s benefits from this Easement; provided that the owner of the NIC Property, or its successors and assigns, at its expense, may make hard surface improvements to the Easement Premises and may install, maintain, operate, repair and replace Utilities in the Easement Premises.

  • This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns and shall run with the City Property and the NIC Property.

  • The University warrants that it is the owner of the NIC Property and has legal authority, right, title and capacity to grant the Easement over the NIC Property as granted herein and to execute and deliver this Agreement.

  • Parking motorized and non-motorized vehicles on the Easement Premises that does not involve a temporary delivery or removal of items from said NIC Property.