Contribution of Properties. Subject to the terms and conditions contained in this Agreement, each Transferor agrees to contribute to the Partnership, and the Partnership agrees to acquire from the Transferors, all of the Transferors' right, title and interest in and to the Projects, each of which includes the following described property:
Contribution of Properties. 1 2. Consideration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3.
Contribution of Properties. Shurgard agrees to contribute, transfer, assign, convey and deliver to the LLC, and to cause SSCI and STLP to contribute, transfer, assign, convey and deliver to the LLC, and the LLC agrees to accept, subject to the provisions hereof, all of Shurgard's, SSCI's and STLP's respective right, title and interest in and to the following:
Contribution of Properties. (a) Within fifteen days after the later to occur of the Court's approval of this Agreement and the Court's tentative approval of a business plan for the operation of the Class Entity (Section 15 hereof) (the last of such agreements to occur referred to as "Court Approval") and within five days of obtaining any required lender approval for the transfer of each Property (not to exceed sixty days), the Partnership shall transfer all of its right, title and interest in the following five Properties to the Class Entity:
Contribution of Properties. Subsequent to the formation of the Property Owning Entities and prior to the Closing, Colonial REIT shall cause the Operating Partnership to convey or cause to be conveyed good and marketable fee title to each of the Properties together with the Appurtenant Rights to one of the Property Owning Entities, such that, upon consummation of all of these conveyances, each Property Owning Entity shall own fee title together with the Appurtenant Rights to one Property. Such conveyance shall be by special warranty deed and pursuant to the other documents set forth in Section 9.2.1 below and shall be subject only to Permitted Exceptions (as defined below). The obligations of the Colonial REIT under this Section 5.2 shall be deemed satisfied by the delivery of the deeds of conveyance for the Properties by the Operating Partnership to the Title Company (as defined below) with irrevocable instructions to the Title Company to record the deeds, even if the deeds are not recorded in the applicable land records prior to the Closing
Contribution of Properties. At the Closing, but with economic effect as of October 1, 2009 (the “Effective Date”) (which economic effect shall be reflected through the adjustment provisions in Section 7.5), the Contributor shall contribute, transfer and deliver to the Company, and the Company shall accept from the Contributor, all of the Contributor’s right, title and interest in and to the following properties, assets, rights and entitlements, subject, however, to the Permitted Encumbrances (the “Contributed Assets”):
Contribution of Properties. On the terms and subject to the conditions set forth in this Agreement, at the Closing (as defined in Section 4.3), (i) each Contributor shall contribute and convey to Operating Partnership, or a wholly-owned subsidiary of Operating Partnership, all of such Contributor’s right, title and interest in and to the Contributed Interests owned and/or held by such Contributor free and clear of all encumbrances other than Permitted Encumbrances, (ii) each Acquisition Sub shall be merged with and into each Merging Entity, with each Acquisition Sub as the surviving entity, in exchange for which Operating Partnership shall pay and issue to such Contributor and Merging Entity (or such Unit Recipients and Cash Recipients designated by such Contributor or Merging Entity) such amount of cash and OP Units comprising the Closing Consideration having a total value equal to the Allocated Value for the Property owned by such Contributor’s Contributed Entity or by such Merging Entity, as set forth on Exhibit A attached hereto and made a part hereof. Each Contributor shall promptly, after the Closing, dissolve and liquidate, distributing in its dissolution and liquidation such cash and OP Units, if any, to its members with each Contributor remitting the amount of cash to those of its members who are Cash Recipients, all as set forth on the Closing Consideration Election Notice to be provided to Operating Partnership prior to the Closing. The LTD Entities, such Contributors, and the owners of each Merging Entity agree to enter into a joint voting and designation agreement with LTD pursuant to which such parties shall designate to LTD the exercise of their respective voting rights as holders of OP Units as to the rights described in Section 6.1 and summarized in Exhibit O hereto. (b)
Contribution of Properties. 4.1 Identification of Properties to Be Contributed (a) Exhibit A hereto sets forth a list of certain self- service storage facilities owned or leased and recently constructed or currently under construction by SSCI (each, a "Property" and, together, the "Properties"). On or following the Operative Date, Shurgard will cause each of such Properties to be contributed to the Partnership following the completion of construction of such Property by SSCI pursuant to a Contribution Agreement (the "Contribution Agreement") between the Partnership and Shurgard dated on or prior to the Operative Date (except for any such Property whose contribution is excluded under the terms of the Contribution Agreement). (b) On or prior to the Operative Date, the Partners shall prepare a Capital Budget (the "Capital Budget") that sets forth the estimated Carrying Value (as defined below) of each Property. The Carrying Value shown on the Capital Budget for each Property as to which construction has not been completed or as to which final construction costs have not been determined is an estimate, and the Capital Budget shall be revised to reflect the actual Carrying Value of each such Property determined pursuant to the terms of the Contribution Agreement. "
Contribution of Properties. Subsequent to the formation of the New Property Owning Entities and prior to the Closing, Colonial REIT shall cause the Operating Partnership to convey or cause to be conveyed each of the Properties to one of the Property Owning Entities, such that, upon consummation of all of these conveyances, each Property Owning Entity shall own one Property. Such conveyance shall be by warranty deed and shall be subject only to Permitted Exceptions (as defined below). The obligations of the Colonial REIT under this Section 5.2 shall be deemed satisfied by the delivery of the deeds of conveyance for the Properties by the Operating Partnership to the Title Company (as defined below) with irrevocable instructions to the Title Company to record the deeds, even if the deeds are not recorded in the applicable land records prior to the Closing.
Contribution of Properties. 11 4.1 Identification of Properties to Be Contributed..................................... 11 4.2
