Tee Box definition
Examples of Tee Box in a sentence
The Purchaser agrees to enter into a license agreement at Closing permitting the Seller’s continual limited use of the Premises for the Tee Box for so long as Seller owns the Golf Course Property for nominal consideration (the “Tee Box License Agreement”).
Purchaser may, at Purchaser’s sole option, subdivide the Tee Box from the Land and transfer title to the Tee Box to Seller.
If the Licensee re-designs or re-configures the portion of the Property that is adjacent to the License Area, then the Licensee shall design it in such a way as to remove the Tee Box from the License Area and this Agreement shall be deemed terminated as of the date that the Tee Box is removed.
In the event the Purchaser subdivides the Land and transfers title to the Tee Box to Seller, the license agreement regarding the Tee Box shall be null and void as of the date the Deed to the Tee Box is recorded.
If the Seller transfers the portion of the Golf Course Property that is adjacent to the Tee Box (i.e., the golf hole that the Tee Box services), then the Tee Box License Agreement shall be null and void simultaneous with such transfer.
If the Seller re-designs or re-configures the portion of the Golf Course Property that contains the Tee Box, then the Seller shall design it in such a way as to remove the Tee Box from the Premises, in which event the Tee Box License Agreement shall be null and void.
Subject to the terms of this Agreement, Licensor hereby grants to Licensee a license for the Term of this Agreement to use that portion of Licensor’s Property shown on Exhibit A for the sole purpose of utilizing the Tee Box.
The form of the Tee Box License Agreement, which shall include as an exhibit a survey and metes and bounds description of the Tee Box and which shall indemnify Buyer from all liability related to the Tee Box, including liability related to environmental conditions or hazardous substances, is attached hereto as Exhibit GE.
Environmental Report F – Matrix Environmental Report G E – Tee Box License Agreement H F – Map of Dirt Road location I G – Dirt Road License Agreement J—Tax Adjustment Agreement Legal Description EXHIBIT A Prepared by: ▇▇▇▇▇ ▇▇▇▇▇▇▇, LLC This Deed is made as of , BETWEEN whose address is referred to as the Grantor, AND whose address is referred to as the Grantee.
At Closing, Purchaser shall deliver to Seller: (a) the Purchase Price by wire transfer; (b) the Tee Box License Agreement in the form attached hereto as Exhibit EG; (c) the Dirt Road License Agreement in the form attached hereto as Exhibit IG (d) the Tax Adjustment Agreement in the form attached hereto as Exhibit BJ; (e) signed Stipulations of Dismissal of all tax appeals pending as of the Closing date for the years 2022, 2023, and 2024.