Examples of Project Property in a sentence
Subject to Sponsor’s variance power and applicable tax and charitable trust laws, the parties expect such transfer to include Sponsor transferring all Project Funds and Project Property then in Sponsor’s possession to the transferee organization.
If the Government exercises such option in accordance with Clause 10.7 (Exercise of Termination Option), then in accordance with the provisions of this Clause 11 (Early Termination Purchase Price and Procedure), the Project Property should be valued at the "Project Company Default Purchase Price", which equals to: Outstanding Debt; plus Termination Costs; minus Outstanding Shareholder Commitments; minus Relevant Insurance Proceeds.
In the event of such termination, Sponsor may use Project Property in any manner consistent with applicable tax and charitable trust laws.
Any action on this Guaranty shall be filed in the county where the Project Property is situated.
The Project Property shall be conveyed, assigned or transferred (as applicable) to the Government (or its nominee) (i) free from all Encumbrances other than Permitted Encumbrances, but (ii) with no representations or warranties provided by the Project Company, whether express or implied.