Acquisition Projects Clause Samples
The 'Acquisition Projects' clause defines the terms and conditions under which one party may acquire assets, businesses, or interests from another party. It typically outlines the scope of acquisitions covered, the procedures for initiating and completing such projects, and any approvals or documentation required. For example, it may specify the types of assets eligible for acquisition or set forth timelines and due diligence requirements. The core function of this clause is to provide a clear framework for managing acquisition activities, thereby reducing uncertainty and ensuring that both parties understand their rights and obligations during the acquisition process.
Acquisition Projects. The following provisions shall apply if the project covered by this Agreement includes funds for the acquisition of land or facilities:
1. RECIPIENT shall establish that the cost is fair value and reasonable prior to disbursement of funds provided for in this Agreement.
2. RECIPIENT shall provide satisfactory evidence of title or ability to acquire title for each parcel prior to disbursement of funds provided by this Agreement. Such evidence may include title insurance policies, Torrens certificates, or abstracts, and attorney's opinions establishing that the land is free from any impediment, lien, or claim which would impair the uses intended by this Agreement.
Acquisition Projects. (a) Acquisition projects are intended to expand, assure, and maintain adequate OHV recreation access or opportunities, eliminate trespass, and provide appropriate buffers to sustain OHV opportunity.
(b) Acquisition projects may include any of the following: (1) Purchase of right-of-way or easement.
Acquisition Projects. Acquisition projects are intended to expand, or assure, and maintain adequate OHV 37 recreation access or opportunities, and eliminate trespass, and provide appropriate buffers to 38 sustain OHV opportunity. 39 (b) Acquisition projects may include any of the following: 40 (1) Purchase of right-of-way or easement. 41 (2) Purchase of long-term lease. 42 (3) Purchase of land in fee title.
Acquisition Projects. Notwithstanding anything contained in Section 9.10 hereof to the contrary, the Primary Limited Partners and/or their Affiliates shall not, during the period (the "Restricted Period") commencing on the date hereof and ending on the earlier of (i) January 26, 2004 and (ii) the Restrictions Lapse Date (as defined below), acquire an equity ownership interest in any Acquisition Project other than through their ownership interest in the Partnership and the Trust; provided, however, that with respect to ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ such restriction shall only apply to Acquisition Projects which involve (x) Shopping Centers located within five (5) miles of Shopping Center owned or managed by the Partnership or any Affiliate of the Partnership or (y) malls located within ten (10) miles of a mall owned or managed by the Partnership or any Affiliate of the Partnership. During the Restricted Period, the Primary Limited Partners may, in their sole discretion, notify the General Partner of any opportunities available to the Partnership to acquire any equity ownership interest in an Acquisition Project to the extent such Primary Limited Partners believe such opportunities may be appropriate for consideration by the Partnership. Notwithstanding the preceding sentence, the Primary Limited Partners and/or their Affiliates may not acquire an equity ownership interest in any Acquisition Project during the Restricted Period other than through their ownership interests in the Partnership or the Trust except that ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ may acquire an equity ownership interest in an Acquisition Project (a) if permitted pursuant to the first sentence of this Section 9.11 or (b) if the Partnership declines an opportunity presented to it by ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ to acquire such equity ownership interest in such Acquisition Project.
Acquisition Projects. Notwithstanding anything contained in Section 10.4 hereof to the contrary, each Limited Partner and/or its Controlled Entities shall not, during the Restricted Period, acquire, directly or indirectly, a Controlling or general partner interest in any Acquisition Project other than through their ownership interest in the Partnership or the Existing Property Manager (or such other Entity established by the General Partner in which the Partnership holds an ownership interest in a manner similar to the ownership interest that it holds in the Existing Property Manager), without the prior written consent of the General Partner, which consent shall not be unreasonably withheld so long as (i) such Acquisition Project will not be competitive with any Property, (ii) such Acquisition Project will not require any substantial time commitment from any Limited Partner or a material time commitment of the Limited Partners in the aggregate, and (iii) the Limited Partner has first notified the General Partner of the opportunity to acquire an equity ownership interest in such Acquisition Project and the General Partner has informed the Limited Partner that the Partnership does not desire to acquire such interest.
Acquisition Projects. Notwithstanding anything contained in Section 9.10 hereof to the contrary, the Primary Limited Partners and/or their Affiliates shall not, during the period (the "Restricted Period") commencing on the date hereof and ending or the earlier of (i) the tenth (10th) anniversary of the date on which the Completion of the Offering occurs and (ii) the Restrictions Lapse Date (as defined below), acquire an equity ownership interest in any Acquisition Project other than through their ownership interest in the Partnership and the Trust. During the Restricted Period, the Primary Limited Partners may, in their sole discretion, notify the General Partner of any opportunities available to the Partnership to acquire any equity ownership interest in an Acquisition Project to the extent Primary Limited Partners believe such opportunities may be appropriate for consideration by the Partnership. Notwithstanding the preceding sentence, the Primary Limited Partners and/or their Affiliates may not acquire an equity ownership interest in any Acquisition Project during the Restricted Period other than through their ownership interests in the Partnership or the Trust. The "Restrictions Lapse Date" shall mean the second anniversary of the date on which all of the following conditions are satisfied: (i) neither Primary Limited Partner is an executive officer or director of the Trust and (ii) ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ and ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ are not (or would not be assuming such persons exercised all of their outstanding Rights of Redemption and received Common Shares in consideration therefor), in the aggregate, the beneficial owners of 10% or more of the outstanding Common Shares of the Trust. For purposes of the previous sentence, during his lifetime, a person shall be deemed to be the beneficial owner of any Common Shares beneficially owned by his Affiliates (including shares that would be owned assuming all outstanding Rights of Redemption were exercised and Common Shares were received in consideration therefor by such persons).
Acquisition Projects. (a) Acquisition projects are intended to expand, assure, and maintain adequate OHV recreation access or opportunities, eliminate trespass, and provide appropriate buffers to sustain OHV opportunity.
(b) Acquisition projects may include any of the following:
(1) Purchase of right-of-way or easement.
(2) Purchase of long-term lease.
(3) Purchase of land in fee title.
(c) Eligible costs for projects may include, but are not limited to the following:
(1) Land purchase.
(2) Appraisal.
(3) Escrow fees.
(4) Title insurance.
(5) Title report.
(6) Land survey.
(7) Wildlife, habitat, soil, and cultural surveys.
(d) All acquisitions shall be acquired in compliance with Chapter 16 (commencing with Section 7260), Division 7, Title 1, Government Code.
(e) The grantee will provide the Division with the required acquisition certification.
(f) It is the applicant’s responsibility to obtain an independent technical review of the appraisal report.
(g) Appraisals will be prepared in accordance with standard state or federal appraisal practices.
(h) The Acquisition Certification Form shall be used by the grantee; a copy of the form is included in the Grant Application Guide (June 2000).
(i) The Acquisition Certification Form (4/2000) will include the following certifications:
(1) The appraisal report was independently reviewed and approved.
(2) A statement of just compensation was provided to the property owner and the offer to purchase was not less than the appraised value.
(3) If the offer/purchase was less than appraised value it was because the acquisition was pursuant to voluntary sale provisions of state law and a just compensation offer was not required.
(4) The title acquired is free and clear of any adverse title conditions.
(5) The legal description matches the appraised property and has been checked with the Assessor’s Parcel Map in the County Recorder’s Office.
(6) The acquisition map and description are accurate as to the property boundaries and known easements.
(7) Added exceptions or conditions have been considered in the value (revised appraisal) as appropriate and are documented.
(8) For improved properties, a relocation assistance program is in place and a relocation plan was prepared.
(9) Occupants were provided with a brochure detailing benefits and eligibility requirements for relocation assistance and payments.
(10) Agency certifies compliance with Government Code Sections 7260 et seq.
(j) The Acquisition Certification Form will be completed, signed, and ...
Acquisition Projects. Notwithstanding anything contained in Section 10.4 hereof to the contrary, ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ shall not, during the Restricted Period, acquire, directly or indirectly, a Controlling general partner interest or a 25% or greater equity interest in any Acquisition Project other than through his ownership interest in the Partnership or the General Partner without the prior written consent of the Independent Directors (as defined in the Prospectus), which consent shall not be unreasonably withheld so long as (i) such Acquisition Project will not be competitive with any Property, (ii) such Acquisition Project will not require any substantial time commitment from any Limited Partner or a material time commitment of the Limited Partners in the aggregate, and (iii) ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ has first notified the General Partner of the opportunity to acquire an equity ownership interest in such Acquisition Project and the General Partner has informed such Limited Partner that the Partnership does not desire to acquire such interest.