Transferred Real Property definition
Examples of Transferred Real Property in a sentence
To the Knowledge of Seller, no other party to any Transferred Real Property Lease or Transferred Right-of-Way is in default, violation or breach of such Transferred Real Property Lease or Transferred Right-of-Way and there are no disputes pending or threatened thereunder other than those defaults, violations, breaches and disputes that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.
Each Seller owns and has valid title to the Transferred Real Property that is Owned Real Property owned by it and has valid leasehold or subleasehold interests, as the case may be, in all of the Transferred Real Property that is Leased Real Property leased or subleased by it, in each case, free and clear of all Encumbrances, other than Permitted Encumbrances.
The Environmental Custodial Trust Trustee shall abide by the terms of any institutional controls or deed restrictions in place or of record as to any Transferred Real Property.
Upon receipt of the Transferred Real Properties and the Funds, the Environmental Custodial Trust Trustee shall set aside in separate segregated trust accounts (each a “Custodial Trust Environmental Cost Account”), the Funding for Environmental Costs with respect to each Transferred Real Property.
The Lead Government Agency shall have the authority to approve or disapprove the proposed budget for the relevant Custodial Trust Environmental Cost Account after consultation with the other governmental agency (i.e., the State in which the Transferred Real Property is located for a Site for which USEPA, DOI, and/or DOC/NOAA is the Lead Government Agency and vice versa).