Examples of Vesting Certificate in a sentence
The Authority hereby acknowledges compliance and fulfilment by the Developer of the Divestment Requirements set forth in Article 34.1 of the Agreement on the basis that upon issue of this Vesting Certificate, the Authority shall be deemed to have acquired, and all title and interest of the Developer in or about the Project Infrastructure and / or Project Facilities, as the case may be shall be deemed to have vested unto the Authority, free from any encumbrances, charges and liens whatsoever.
If the applicant is not the owner of the fee title to the property, then the applicant shall present an affidavit of authority providing for the applicant’s authorization to seek approval of the Vesting Certificate on behalf of the fee owner.
It is expressly agreed that the issue of Vesting Certificate shall not in any manner be construed or interpreted as restricting the exercise of any rights by the Concessioning Authority or its nominee on, or in respect of, the Project on the footing that all requirements under this Agreement have been complied with by the Concessionaire.
It is expressly agreed that the issue of Vesting Certificate shall not in any manner be construed or interpreted as restricting the exercise of any rights by the Concessioning Authority or its nominee on, or in respect of, the Project on the footing that all requirements under the Agreement have been complied with by the Concessionaire.
This Guarantee shall come into force with immediate effect and shall remain in force and effect for a period of one year and will be renewed on a yearly basis 30 (thirty) days prior to its expiry until the Term of the Agreement or until the SPV has issued the Vesting Certificate to the Developer pursuant to the provisions of the Agreement, whichever is later.