Examples of Secure Legal Interest in a sentence
The Grant Recipient must have a Secure Legal Interest in the units identified in the Firm Scheme Details.
The Grant Recipient possesses or will possess a Secure Legal Interest in each Site.
The parties acknowledge and agree that it is a condition precedent to the Grant Recipient making any claim for Firm Scheme Grant under this Clause 14 (Grant Claim Procedures) that with respect to the relevant Firm Scheme: the Acceptance Date has passed; and the Grant Recipient possesses a Secure Legal Interest and the parties acknowledge and agree that for the purposes of this Clause 14.1.2 (Grant Claim Procedures), a Contractual Interest shall be disregarded and of no effect.
More Definitions of Secure Legal Interest
Secure Legal Interest means the Grant Recipient has in respect of the Site: freehold title registered with title absolute; leasehold title (where the lease has at least 60 years unexpired duration) registered with title absolute; freehold title registered with possessory title or good leasehold title and in each case defective title indemnity insurance in favour of the Grant Recipient with a limit of indemnity to at least the Total Grant for that Site; or a binding contract with the owner of the legal and beneficial interest in the Site (owning either a freehold interest or leasehold interest of at least sixty (60) years unexpired duration) to secure one of the interests in (a) to (c) and that, securing that interest is conditional only upon matters that are within the direct and unilateral control of the Grant Recipient.
Secure Legal Interest means the Grant Recipient has in respect of the Site: in the case of a P&D Scheme, a Secure Legal Interest (P&D); and in the case of a L&R Scheme, a Secure Legal Interest (L&R); Secure Legal Interest (L&R) means the Grant Recipient has in respect of the Site: a leasehold title where the lease has less than 60 years unexpired duration, registered with title absolute or registered with good leasehold title and in the latter case defective title indemnity insurance in favour of the Grant Recipient with a limit of indemnity to at least the Firm Scheme Grant for that Site; or a lease of between five and seven years unexpired duration; Secure Legal Interest (P&D) means the Grant Recipient has in respect of the Site: freehold title registered with title absolute; leasehold title (where the lease has at least 60 years unexpired duration) registered with title absolute; freehold title registered with possessory title or leasehold title registered with good leasehold title (where the lease has at least 60 years unexpired duration) and in each case defective title indemnity insurance in favour of the Grant Recipient with a limit of indemnity to at least the Firm Scheme Grant for that Site; or a binding contract with the owner of the legal and beneficial interest in the Site to secure one of the interests in limbs (a) to (c) and that securing that interest is conditional only upon the matters that are within the direct and unilateral control of the Grant Recipient;
Secure Legal Interest means the Relevant Consortium Member has in respect of the Site: in the case of a P&D Scheme, a Secure Legal Interest (P&D); and in the case of a L&R Scheme, a Secure Legal Interest (L&R); Secure Legal Interest (L&R) means the Relevant Consortium Member has in respect of the Site: a leasehold title where the lease has less than 60 years unexpired duration, registered with title absolute or registered with good leasehold title and in the latter case defective title indemnity insurance in favour of the Relevant Consortium Member with a limit of indemnity to at least the Firm Scheme Grant for that Site; or a lease of between five and seven years unexpired duration; Secure Legal Interest (P&D) means the Relevant Consortium Member has in respect of the Site: freehold title registered with title absolute; leasehold title (where the lease has at least 60 years unexpired duration) registered with title absolute; freehold title registered with possessory title or leasehold title registered with good leasehold title (where the lease has at least 60 years unexpired duration) and in each case defective title indemnity insurance in favour of the Relevant Consortium Member with a limit of indemnity to at least the Firm Scheme Grant for that Site; or a binding contract with the owner of the legal and beneficial interest in the Site to secure one of the interests in limbs (a) to (c) and that securing that interest is conditional only upon the matters that are within the direct and unilateral control of the Relevant Consortium Member; Security means a mortgage charge pledge lien or other security interest securing any obligation of any person or any other agreement or arrangement having a similar effect (such as a sale or lease and leaseback a blocked account set off or similar "flawed asset" arrangement);