Acquisition Consideration. (a) The acquisition consideration to be paid by Kite Realty for the LLC Interest (the “Acquisition Consideration”) pursuant to an exercise of the Option under Section 2.1 shall be equal to the lesser of (i) Annualized NOI divided by 8.5%, less the Project Indebtedness, multiplied by the Percentage Interest or (ii) the product of (x) the fair market value of the Property (“FMV”) at the time, as determined in accordance with this Section 3.1, less the Project Indebtedness, multiplied by (y) the Percentage Interest. “
Appears in 4 contracts
Samples: Option Agreement (Kite Realty Group Trust), Form of Option Agreement (Kite Realty Group Trust), Form of Option Agreement (Kite Realty Group Trust)
Acquisition Consideration. (a) The acquisition consideration to be paid by Kite Realty for the LLC Interest (the “"Acquisition Consideration”") pursuant to an exercise of the Option under Section 2.1 shall be equal to the lesser of (i) Annualized NOI divided by 8.5%, less the Project Indebtedness, multiplied by the Percentage Interest or (ii) the product of (x) 95% of the fair market value of the Property (“FMV”) at the time, as determined in accordance with this Section 3.13.1 ("FMV"), less the Project Indebtedness, multiplied by (y) the Percentage Interest. “.
Appears in 2 contracts
Samples: Option Agreement (Kite Realty Group Trust), Option Agreement (Kite Realty Group Trust)
Acquisition Consideration. (a) The acquisition consideration to be paid by Kite Realty for the LLC Partnership Interest (the “Acquisition Consideration”) pursuant to an exercise of the Option under Section 2.1 shall be equal to the lesser of (i) Annualized NOI divided by 8.5%, less the Project Indebtedness, multiplied by the Percentage Interest or (ii) the product of (x) the fair market value of the Property (“FMV”) at the time, as determined in accordance with this Section 3.1, less the Project Indebtedness, multiplied by (y) the Percentage Interest. “
Appears in 2 contracts
Samples: Option Agreement (Kite Realty Group Trust), Form of Option Agreement (Kite Realty Group Trust)
Acquisition Consideration. (a) The acquisition consideration to be paid by Kite Realty for the LLC Partnership Interest (the “"Acquisition Consideration”") pursuant to an exercise of the Option under Section 2.1 shall be equal to the lesser of (i) Annualized NOI divided by 8.5%, less the Project Indebtedness, multiplied by the Percentage Interest or (ii) the product of (x) 95% of the fair market value of the Property (“FMV”) at the time, as determined in accordance with this Section 3.13.1 ("FMV"), less the Project Indebtedness, multiplied by (y) the Percentage Interest. “.
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