Usufruct definition

Usufruct means the usufruct rights granted pursuant to Articles 1333-1348 of Federal Law No. 5 of 1985 (as amended) in respect of Civil Transactions for the United Arab Emirates in the Wakala Asset during the Usufruct Term;
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Usufruct means the right to use and to benefit from the Immoveable Property, which is the subject matter of this Agreement, and includes the right to repair, improve, plant, build constructions, and to enjoy the natural benefits of, and the legal benefits arising from, the Immovable Property, including but not limited to, leasing the Immovable Property.
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Usufruct means the Usufruct (Nutzniessung) in the Shares to be granted by the Pledgor to the Beneficiary subject to and in accordance with the requirements of Clause 3.1 hereof.
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Examples of Usufruct in a sentence

  • Usufruct of immovable property and rights to variable or fixed payments as consideration for the working of, or the right to work, mineral deposits, sources and other natural resources shall also be considered as “immovable property”.

  • Usufruct of immovable property and rights to variable or fixed payments as consideration for the working of, or the right to work, mineral deposits, sources and other natural resources shall also be considered as "immovable property".

  • Yes No Tenancy State Number of Tenants Tenancy Clause Community Property Community Property with Rights of Survivorship Tenants in Common* Tenants by Entirety Joint Tenants with Rights of Survivorship Usufruct (LA Residents only) *Joint account agreement is required for tenants in common.

  • Usufruct Agreement - On March 1, 2018, EPMSA and Quiport renewed the usufruct contract for certain goods used in the operation, maintenance and service for accidents, fire and rescue at the new airport.

  • The Minister acting on behalf of the Treasury, as the sole owner of the Mineral Deposits, hereby establishes in favor of the Partnership a mining usufruct in the Mining Usufruct Area regarding the Prospecting for, Exploration and Exploitation of Natural Gas and Oil.

  • The term loans are secured by a commercial mortgage over the Company’s assets and a legal mortgage over the Company’s rights, title and interest in the Usufruct Agreement dated 11 February 2013.

  • After exercise (or expiry, as the case may be) of any option granted hereunder, the rights of the participating parties in any Usufruct shall be governed by the Operating Documents which apply to that Usufruct.

  • The provision for decommissioning obligation is a best estimate of the present value of expected costs required to settle the obligation, at the reporting date based on the current requirements of the Usufruct agreement, using estimated cash flows.

  • The Pledgor undertakes that, as from the Usufruct Maturity Date (as defined in the Share Pledge Agreement), it shall deposit any cash dividend payments or nominal value re-payments in excess of CHF 1.00 per Share received per fiscal year of Astra in relation to the Shares pledged pursuant to the Share Pledge Agreement in the Account.

  • We confirm that the Usufruct in the Shares is hereby terminated and waive all further rights relating thereto.


More Definitions of Usufruct

Usufruct means: the right of usufruct, within the meaning of Part 8 of Book 3 of the Dutch Civil Code. The creation of a Usufruct on Shares may not be restricted or excluded in the Articles of Association. Where in the Articles of Association Pledge is mentioned also Usufruct is mentioned unless indicated otherwise.
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Usufruct means “the right of one state to enjoy all the advantages derivable from the use of property which belongs to another Although article 55 allows an occupying state the right to use and benefit from public buildings, real estate, forests, and agricultural estates, it imposes upon the occupying state the obligation to protect the environment. This part of the Hague Regulations presupposes the existence of a state of occupation; therefore, it does not address military necessity. If an armed conflict occurs or reoccurs within occupied territory, destruction is permissible if demanded by military necessity.
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Usufruct means a real right of using and enjoying land the bare ownership of which belongs to another person and includes a usufruct created under and in accordance with customary law, the Shari’a or a statute.
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Usufruct means a legal right accorded to a person(s), that confers the temporary right to
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Usufruct has the meaning set forth in Section 2.8.
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Usufruct means the Polish equivalent of a U.S. oil and gas lease.
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Related to Usufruct

  • servitude shall be deemed to include “easement”, (p) “priority” shall be deemed to include “prior claim”, (q) “survey” shall be deemed to include “certificate of location and plan”, (r) “fee simple title” shall be deemed to include “absolute ownership”, and (s) “forclosure” shall be deemed to include the “exercise of a hypothecary right”. The parties hereto confirm that it is their wish that this Agreement and any other document executed in connection with the transactions contemplated herein be drawn up in the English language only (except if another language is required under any applicable law) and that all other documents contemplated thereunder or relating thereto, including notices, may also be drawn up in the English language only. Les parties aux présentes confirment que c’est leur volonté que cette convention et les autres documents de crédit soient rédigés en langue anglaise seulement et que tous les documents, y compris tous avis, envisagés par cette convention et les autres documents peuvent être rédigés en la langue anglaise seulement (sauf si une autre langue est requise en vertu d’une loi applicable).

  • Encumbrance means any charge, claim, community property interest, pledge, condition, equitable interest, lien (statutory or other), option, security interest, mortgage, easement, encroachment, right of way, right of first refusal, or restriction of any kind, including any restriction on use, voting, transfer, receipt of income or exercise of any other attribute of ownership.

  • Permitted Exceptions shall have the meaning set forth in Section 4.3.

  • Encumber “Encumbering,” or “Encumbrance” means the creation of a security interest, lien, pledge, mortgage or other encumbrance, whether such encumbrance be voluntary, involuntary or by operation of Applicable Law.

  • levy means the amount of costs apportioned to participating municipalities in accordance with the Act and Regulations under the Act.