Building Purchase Sample Clauses

Building Purchase. The Building Purchase shall have been consummated or shall be consummated concurrently with the Closing.
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Building Purchase. It is mutually agreed and understood that SPEC will purchase the Project Building with funds contributed by the Collaborating Districts. The Project Building will be held as an asset of SPEC.
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Building Purchase. Buyer agrees to purchase and Seller agrees to sell the building located at 000 Xxxx Xxxx, Xxxxxxxx, XX 00000 for $850,000 in cash or through the assumption of the current mortgage and cash within 180 days from the Closing Date, subject to (i) a qualified appraisal confirming such valuation or in absence of an appraisal the verification of historical cost greater than $850,000, and (ii) Buyer’s satisfaction with the results of Buyer’s due diligence review regarding the property, including, but not limited to, phase I and phase II environmental studies as deemed necessary by Buyer. Buyer will rent the building on a month-to-month basis, for monthly rental payments of Ten Thousand ($10,000) Dollars on a triple net basis until the purchase is completed. Buyer will reserve warehouse space for Express-1 Transportation. Such space shall be leased from Target at a rate of $250 per month.
Sample 1
Building Purchase. During the term hereof, Miller shall have the xxxxxn to purchase the Property (the "Option"). This purchase Option will be contingent upon the County complying with Kansas law for such a purchase, including K.S.A. 19-211. Upon successful completion of the requirements of Kansas law and K.S.A. 19-211, (the "Statutory Requirements") and if Miller is the successxxx xxdder, Miller shall have the xxxxxn to pay the County the sum of One Hundred Seventy-Five Thousand an 00/100 Dollars ($175,000.00) hereinafter referred to as the Balloon Payment and accept ownership of the Property. If Miller tenders the Baxxxxx Payment, County shall deed the property to Miller in Fee Simple xx Xxxranty Deed subject only to easements and restrictions of record as of the date hereof and free and clear of all liens and encumbrances (except as caused or permitted by Miller). Provided Mixxxx xeclines to taxx xxxership of the property, any subsequent lease between the parties shall be at fair market value rate. The Balloon Payment shall be reduced by Full-Time Employee Reduction (FTE) in accordance with a yearly FTE schedule as shown herein. The Balloon Payment shall be divided into five (5) parts of $35,000.00 for each year, however, payment will be due only at the conclusion of the initial term. For each given year, the payment due shall be reduced as provided herein. In other words, for each year that the FTE is met in full, a $35,000.00 reduction shall be made to the Balloon Payment. If the entire FTE number is not met such representative portion of the Balloon Payment for that given year shall be reduced by the applicable percentage. The FTE reductions shall be computed by taking the total number of hours worked (includes paid holiday, vacation, personal days and sick days) at the property by employees of Miller during the prexxxxxx twelve months and dividing by two thousand eight (2,080). The FTE shall be computed on the anniversary date of this Lease being executed and binding in accordance with the Statutory Requirements (the "Effective Date"), and computed for the preceding twelve months. Miller shall submit tx Xxxxty a certified statement of employment not more than thirty days after the anniversary date of the Effective Date of this Lease. The statement shall be provided to County by Miller and shall be cxxxxxxed by an independent accounting firm authorized to make such certification for Miller in accordance xxxx xhe Generally Accepted Rules of Accounting to the extent they ...
Sample 1
Building Purchase. Within one hundred twenty (120) calendar days after the Effective Date, Gentex agrees to purchase the property located at 00000 Xxxxxxx Xx. Xxxxxxx, XX 00000 from Employee (or any entity Employee controls, as applicable) for $950,000.00, subject to usual terms and conditions for an acquisition of real property of this type.
Sample 1

Related to Building Purchase

  • Construction In First Offer Space Tenant shall take the First Offer Space in its “as is” condition, subject to any improvement allowance granted as a component of the Fair Rental Value, and the construction of improvements in the First Offer Space shall comply with the terms of Article 8 of this Lease.

  • Building With respect to each parcel of Real Estate, all of the buildings, structures and improvements now or hereafter located thereon. Business Day. Any day on which banking institutions located in the same city and State as the Agent’s Head Office are located are open for the transaction of banking business and, in the case of LIBOR Rate Loans, which also is a LIBOR Business Day.

  • Substitute Premises The “Substitute Premises” shall mean a parcel of land located by itself on a separate tax parcel with a completed building constructed thereon, with respect to which a certificate of occupancy has been issued and all other licenses and permits have been received, provided, however, that such land and building shall have a then-current appraised value at least equal to the current appraised value of the Premises (or in the case of damage or destruction the anticipated appraised value of the building) upon completion of the Building. Notwithstanding the immediately preceding sentence, the Substitute Premises shall not be required to be located in the same state as the Premises if Master Tenant pays to or for the benefit of Landlord all costs and expenses incurred by Landlord and Fee Mortgagee in connection with the acquisition and ownership of such property which would not have been incurred had the Substitute Premises been located in the same state as the Premises.

  • Base Building “Base Building” means the Building Structure and Mechanical Systems, collectively, defined as follows:

  • Building Signage So long as the Sign Conditions continue to prevail, Tenant shall have the exclusive right, at Tenant’s sole cost and expense, subject to Applicable Law, the terms of this Lease and Landlord’s approval rights, to install and maintain two (2) exterior signs on each Building (each hereinafter, “Building Sign”). The location, size, construction, mounting and design of each Building Sign shall be subject to Landlord’s approval (which approval shall not be unreasonably withheld or delayed). Tenant shall obtain, at its expense, all permits and approvals required for the installation of each Building Sign prior to the installation thereof (but shall not be permitted to seek any zoning or similar relief for Building’s Sign without Landlord’s consent, which may be withheld in Landlord’s sole discretion), and shall keep all such perm its and approvals in full force and effect throughout the Term. Tenant acknowledges that each such Building Sign shall be at Tenant’s risk and Tenant shall perform all maintenance and repairs to each Building Sign required to keep it in good condition. The installation, repair, maintenance and removal of any Building Sign shall be subject to the applicable provisions of the Lease and Landlord’s other reasonable requirements. Tenant shall promptly notify Landlord any proposed changes in the Building Sign, including the addition of signage for any Transferee permitted hereunder, and any estimated costs thereof, and such changes shall be subject to Landlord’s approval, such approval not to be unreasonably withheld, conditioned or delayed. Any changes to the Building Sign shall be at Tenant’s sole cost and expense. Upon the expiration or earlier termination of the Term of this Lease, and upon any event pursuant to which the Sign Conditions cease to prevail, Tenant shall remove each Building Sign (and all associated hardware) from the applicable Building and shall fill all holes and repair all damage caused by such removal and restore the affected area to a condition and appearance which is consistent with the finishes (e.g. paint) in close proximity to such area.

  • Adjacent Premises If the Premises are part of a larger building, or of a group of buildings owned by Lessor which are adjacent to the Premises, the Lessee shall pay for any increase in the premiums for the property insurance of such building or buildings if said increase is caused by Lessee's acts, omissions, use or occupancy of the Premises.

  • Building Permits All building permits required for the construction of the Improvements have been obtained prior to the commencement of the construction of the Improvements and copies of same will be delivered to Lessor.

  • Expansion Premises In addition to the Original Premises, commencing on the Expansion Premises Commencement Date (as defined below), Landlord leases to Tenant, and Tenant leases from Landlord, the Expansion Premises.

  • Building and Improvements Lessor shall obtain and keep in force during the term of this Lease a policy or policies in the name of Lessor, with loss payable to Lessor and to any Lender(s), insuring against loss or damage to the Premises. Such insurance shall be for full replacement cost, as the same shall exist from time to time, or the amount required by any Lender(s), but in no event more than the commercially reasonable and available insurable value thereof if, by reason of the unique nature or age of the improvements involved, such latter amount is less than full replacement cost. Lessee-Owned Alterations and Utility Installations, Trade Fixtures and Lessee's personal property shall be insured by Lessee pursuant to Paragraph 8.4. If the coverage is available and commercially appropriate, Lessor's policy or policies shall insure against all risks of direct physical loss or damage (except the perils of flood and/or earthquake unless required by a Lender), including coverage for any additional costs resulting from debris removal and reasonable amounts of coverage for the enforcement of any ordinance or law regulating the reconstruction or replacement of any undamaged sections of the Building required to be demolished or removed by reason of the enforcement of any building, zoning, safety or land use laws as the result of a covered loss, but not including plate glass insurance. Said policy or policies shall also contain an agreed valuation provision in lieu of any co-insurance clause, waiver of subrogation, and inflation guard protection causing an increase in the annual property insurance coverage amount by a factor of not less than the adjusted U.S. Department of Labor Consumer Price Index for All Urban Consumers for the city nearest to where the Premises are located.

  • Building Name Landlord reserves the right at any time and from time to time to change the name by which the Building is designated.

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