Example ContractsClausesCovenant Running With the Land
Covenant Running With the Land
Covenant Running With the Land contract clause examples

Running Royalties. Surface shall pay to Harbour a royalty of ​ percent ​ on Net Sales of Licensed Products sold by Surface, Affiliates and Sublicensees. Running royalties shall be payable for each Reporting Period and shall be due to Harbour within ​ days of the end of each Reporting Period.

Owned Land. [Recital B] on the first page of the Existing Mortgage is hereby deleted in its entirety and replaced with the following:

RUNNING THENCE South 9 degrees 53 minutes 20 seconds West, 421.32 feet to land now or formerly of J. Gazza;

Description of Conveyed Land. Exhibit B attached to this Modification is hereby added as Exhibit B of the Existing Mortgage.

Grant of Owned Land. Granting clause (b) on page 3 of the Existing Mortgage is hereby deleted in its entirety and replaced with the following: “(b) all right, title and interest Mortgagor now has or may hereafter acquire in and to the Land (including, without limitation, the Owned Land), the Improvements or any part thereof (whether owned in fee by Mortgagor or otherwise).”

Beginning at the Southeast corner of this parcel of land being, also, the Southwest corner of Lot 716-A (Map 120) of Land Court Application and on the North side of Kaomi Loop the coordinates of the said point of beginning a 3/4 inch rebar in concrete referred to City & County Survey Street Monument at the intersection of Hanua Street and Kaomi Loop being 174.38 feet South and 1,394.46 feet West, hence running by azimuths measured clockwise from true South:

Additional Covenant. Upon the consummation of a Corporate Transaction (as defined in Section 6(e)), the Executive shall be granted a restricted stock award of 3,000,000 shares of common stock (the “Shares”) of the Company which shall be fully vested upon the date of issuance and Executive shall be entitled to receive a dividend or any other distribution payable in securities of the Company, cash or other property in connection with the Corporate Transaction, and in each such event, provision shall be made so that the Executive shall receive the kind and amount of securities of the Company, cash or other property which the Executive would have been entitled to receive had the Shares been outstanding as of the consummation date of the Corporate Transaction.

Shulman acknowledges that: # due to the nature of his duties, he has and will continue to have access to and will acquire confidential information relating to the business and operation of the Company: and # Shulman’s expertise and background would enable him to compete with the business of the Company, which is the ownership, control, development, management and operation of real property;

Greenblatt acknowledges that: # due to the nature of his duties, he has and will continue to have access to and will acquire confidential information relating to the business and operation of the Company: and # Greenblatt’s expertise and background would enable him to compete with the business of the Company, which is the ownership, control, development, management and operation of real property;

Lyke acknowledges that: # due to the nature of his duties, he has and will continue to have access to and will acquire confidential information relating to the business and operation of the Company: and # Lyke’s expertise and background would enable him to compete with the business of the Company, which is the ownership, control, development, management and operation of real property;

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