CROWN GRANT Sample Clauses

A Crown Grant clause defines the legal transfer of land or property from the government (the Crown) to an individual or entity. This clause typically outlines the terms under which the grant is made, such as the rights conveyed, any restrictions or conditions attached, and the process for formalizing the transfer. For example, it may specify that the recipient receives full ownership subject to certain public rights or ongoing obligations. The core function of this clause is to formalize and clarify the government's conveyance of property rights, ensuring both parties understand the extent and limitations of the grant.
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CROWN GRANT. Upon the Project Completion, or at such earlier time as the Minister considers appropriate, and subject to payment to the State of $200,000.00 and of all other usual and applicable fees the State shall cause to be issued to and in the name of the Joint Venturers as tenants in common in equal shares a Crown Grant of the Johnsmith Road Reserve subject to the exceptions reservations and conditions usual in Crown Grants but otherwise free from encumbrances.
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CROWN GRANT. Subject to section 6.1.1, subsisting conditions, provisos, restrictions, exceptions and reservations, including royalties, contained in the original grant or contained in any other grant or disposition from the Crown;
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CROWN GRANT. From the early 1800s to 1865, Crown Grants were the major means of allocating Crown timber. A Crown Grant is the legal instrument by which ownership of Crown land is transferred to private ownership. TLs were implemented in 1979 under the Forest Act to replace an array of “old temporary tenures.” TLs convey exclusive rights to harvest merchantable timber (“trees that were 75 years old on Jan. 1, 1975”) from a specified area of Crown land. TLs that are part of a tree farm licence (TFL) are managed in accordance with the approved TFL management plan. For TLs not in a TFL, the licensee is responsible for protection, operational planning, road building, and reforestation. When a TL expires (after harvest and reforestation), the TL area either remains within the TFL or is added to a timber supply area (TSA). TFLs convey the nearly exclusive right to manage forests and to harvest an allowable annual cut (AAC) of Crown timber from the licence area, which may be comprised of private and Crown lands. TFLs carry the greatest management responsibilities, including protection, maintaining resource inventories, strategic and operational planning, road building, and reforestation. Most TFLs require the licensee to maintain a manufacturing facility. Licensees must use logging contractors for part of the volume harvested during a calendar year. TFLs have a term not exceeding 25 years and are replaceable every 5 years. WLs are similar to TFLs in composition (private and Crown land), exclusive rights (to manage forests and to harvest an AAC), and responsibilities (protection, management plan, reforestation). In view of their smaller size—400 ha Crown land on the coast, 600 ha in the interior—WLs have streamlined planning, cut control, and operational requirements. WLs are issued to individuals, native bands, and small corporations. WLs have a term not exceeding 20 years and are replaceable every 10 years. The “major licence” form of the TSL, with an AAC >10 000 m3, conveys the right to annually harvest timber within a TSA, under cutting permits. The licensee is responsible for protection, planning, and reforestation activities. Major TSLs have a term not exceeding 10 years and most are replaceable on expiry. A PA grants a conditional right to harvest “pulp-quality timber” if the holder is unable to obtain sufficient suitable, reasonably priced furnish for its mill. The PA holder is required to construct and maintain a manufacturing facility (e.g., pulp mill, oriented strand...
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Related to CROWN GRANT

  • Option Grant You have been granted a NON-STATUTORY STOCK OPTION (referred to in this Agreement as your "Option"). Your Option is NOT intended to qualify as an "incentive stock option" under Section 422 of the Internal Revenue Code of 1986, as amended.

  • Grant of Restricted Stock Unit Award The Company hereby grants to the Participant, as of the Grant Date specified above, the number of RSUs specified above. Except as otherwise provided by the Plan, the Participant agrees and understands that nothing contained in this Agreement provides, or is intended to provide, the Participant with any protection against potential future dilution of the Participant’s interest in the Company for any reason, and no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of the shares of Common Stock underlying the RSUs, except as otherwise specifically provided for in the Plan or this Agreement.

  • Grant of Restricted Share Units The Company hereby grants to the Participant [ ] restricted share units (the “RSUs”), subject to all of the terms and conditions of this RSU Award Agreement and the Plan.

  • Grant of Restricted Stock Units The Corporation hereby awards to the Participant, as of the Award Date, Restricted Stock Units under the Plan. Each Restricted Stock Unit represents the right to receive one share of Common Stock on the date that unit vests in accordance with the express provisions of this Agreement. The number of shares of Common Stock subject to the awarded Restricted Stock Units, the applicable vesting schedule for those shares, the dates on which those vested shares shall become issuable to Participant and the remaining terms and conditions governing the award (the “Award”) shall be as set forth in this Agreement.

  • Grant of Restricted Stock Award The Restricted Stock Award will be in the form of issued and outstanding shares of Stock that will be either registered in the name of the Participant and held by the Company, together with a stock power executed by the Participant in favor of the Company, pending the vesting or forfeiture of the Restricted Stock, or registered in the name of, and delivered to, the Participant. Notwithstanding the foregoing, the Company may in its sole discretion, issue Restricted Stock in any other format (e.g., electronically) in order to facilitate the paperless transfer of such Awards. If certificated, the certificates evidencing the Restricted Stock Award will bear a legend restricting the transferability of the Restricted Stock. The Restricted Stock awarded to the Participant will not be sold, encumbered hypothecated or otherwise transferred except in accordance with the terms of the Plan and this Agreement.