Exchange of Properties. (a) Any other provision of this Agreement notwithstanding, Seller and Buyer each has the right to exchange the Property to qualify as a tax-deferred exchange under the provisions of Section 1031 of the Code.
Exchange of Properties. (a) On the Closing Date, Occidental shall:
Exchange of Properties. In consideration of the covenants and conditions contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged:
Exchange of Properties. (a) Each Issuer may remove an Exchanged Property from the Collateral Pool in exchange for the addition of one or more Qualified Substitute Properties to the Collateral Pool; provided, that, after giving effect to a substitution or exchange pursuant to this Section 7.01, (i) the sum of the Collateral Value of all Released Properties and Exchanged Properties released or exchanged since the most recent Series Closing Date shall not exceed 35% of the Aggregate Collateral Value as of such Series Closing Date; and (ii) the sum of the Collateral Value of all Released Properties released since the most recent Series Closing Date by paying the Release Price shall not exceed 25% of the Aggregate Collateral Value as of such Series Closing Date. Notwithstanding the foregoing, (i) a release or exchange of a Property in connection with a Collateral Defect, a Third Party Purchase Option, a Risk-Based Substitution or a Qualified Deleveraging Event, (ii) the release or exchange of a Terminated Lease Property, Delinquent Asset or Defaulted Asset, (iii) releases during the Disposition Period, (iv) releases as a result of a Triple A Release, (v) releases in connection with a Series Collateral Release or (vi) a transfer of lease terms to a Lease Transfer Property shall not be taken into consideration for purposes of the 35% maximum described in the prior sentence. No Property will constitute a Qualified Substitute Property unless, after giving effect to the transfer of such Property to the related Issuer, either (i) a Maximum Property Concentration is not exceeded, or (ii) if, prior to such substitution, an existing Maximum Property Concentration is already exceeded, the addition of such Qualified Substitute Property will reduce the Maximum Property Concentration or such Maximum Property Concentration will remain unchanged after giving effect to such substitution. In addition, no exchange of a Property or Lease may occur (other than pursuant to a Third Party Purchase Option or release due to a Collateral Defect) if an Early Amortization Period would occur as a result of such exchange.
Exchange of Properties. (a) In accordance with the terms of this Agreement, PHF agrees to effect each Exchange hereunder for the benefit of the Exchangor by (a) acquiring one or more Relinquished Properties from the Exchangor, (b) transferring such Relinquished Property(ies) to one or more Buyers pursuant to the method described in Section 2.2, (c) acquiring one or more Replacement Properties from one or more Sellers and (d) transferring such Replacement Property(ies) to the Exchangor pursuant to the method described in Section 2.3 in transactions intended to qualify as exchanges in accordance with Section 1031 of the Code. Exchangor shall be solely responsible for determining the scope of each separate and distinct Exchange hereunder by matching one or more Relinquished Properties with one or more Replacement Properties.
Exchange of Properties. 31 ---------------------- Section 18.1. Exchange of Properties............................................................................ 31 ----------------------
Exchange of Properties. During the Interim Period, Sellers’ Representative may deliver to Buyer written proposals for the exchange of Sellers’ interest in the Leases for non-producing oil and gas leasehold interests owned by third Persons. The written proposal will include the following: (i) a description of the Leases included in the exchange; (ii) a description of the third-Person oil and gas leasehold interests that includes the same categories of information as set forth on Exhibit A-1 for the Leases; (iii) any additional consideration being paid (i.e., “boot”); (iv) any diligence information related to the third-Person leasehold interests including any title or environmental reports; and (v) the material terms of the exchange agreement. Within five Business Days after receipt of the written proposal, Buyer will advise Sellers’ Representative whether it approves the exchange. If Buyer does not respond to Sellers’ Representative within five Business Days, the exchange will be deemed approved. If Buyer approves the exchange or the exchange is deemed approved, then Sellers may take such actions as necessary to consummate the exchange transaction as reflected in the written proposal. If Buyer does not approve the exchange transaction, then Sellers will take no further action to consummate the transaction. There shall be no adjustment to the Base Purchase Price for Net Mineral Acres covered by Leases transferred by Sellers in an approved exchange transaction, to the extent exchanged for a like number of Net Mineral Acres acquired by Sellers in such exchange. Any incremental Net Mineral Acres acquired in such exchange would be considered New Leases, and exchange “boot” cash consideration paid by Sellers to the transferor in connection with such an exchange shall be considered cash expended by Sellers to acquire New Leases for the purposes of Section 2.2(b)(vi).
Exchange of Properties. 61.1 You may have the right to exchange your home with another tenant of a registered provider of social housing or a local authority subject to obtaining our prior written consent (which shall not be unreasonably withheld) and the prior written consent of the other landlord.
Exchange of Properties. Subject to the terms and conditions of this Agreement, the City hereby agrees to grant and convey to First Baptist, on the terms and conditions described herein, all of the City’s interest in the City Property. Subject to the terms and conditions of this Agreement, First Baptist hereby agrees to convey and exchange to the City, on the terms and conditions described herein, all of First Baptist’s interest in the First Baptist Property.
Exchange of Properties. Purchaser and Seller acknowledge that either Seller or Purchaser may desire to structure the transaction evidenced hereby as part of an exchange of properties (i) of like-kind within the contemplation of Section 1031 of the Internal Revenue Code, or (ii) involving condemnation proceeds within the contemplation of Section 1033 of the Internal Revenue Code. Any such exchange of properties is referred to herein as an “Exchange”. The parties agree to cooperate with each other in structuring such an Exchange provided that (a) such cooperation shall be without out-of-pocket cost or expense to the party not structuring such Exchange; (b) the party structuring such Exchange shall pay all of the other party’s out-of-pocket costs or expenses arising due to such Exchange; (c) the party structuring such Exchange shall give notice of the proposed structure of the Exchange at least two (2) Business Days prior to the Closing Date; (d) no such Exchange structure shall require the party that does not structure such Exchange to hold legal or equitable title to any property other than the Property; and (e) no such Exchange or structuring in relation thereto shall delay or operate to postpone the Closing Date or any time periods set forth in this Contract, nor shall the obligations of any of the parties hereto be modified, amended or assigned as a result of any such Exchange.
