FESTIVAL CENTRE Sample Clauses

FESTIVAL CENTRE. The two outparcels with respect to Festival Centre that are outlined on Schedule 4.5(h) of the Disclosure Schedule shall be subject to a declaration of restrictive covenants and easements (the "Festival REA"), including use restrictions and operating and maintenance covenants and access easements (as more particularly set forth in Exhibit 9.4(h) of the Disclosure Schedule) with the beneficiary being the fee owner of Festival Centre to the mutual satisfaction of Purchaser and Seller. Seller and Purchaser shall in good faith attempt to agree on a reasonable form of the Festival REA within 30 days from the date hereof. In addition, the consent of the holder of the Assumed Indebtedness for the release of such outparcels shall be obtained, at Seller's sole cost and expense and such outparcels shall be released from the lien securing such Assumed Indebtedness. In addition, such outparcels shall be properly subdivided and constitute one or more entire separate tax lots that do not affect any other property in accordance with all Laws and all at Seller's sole cost and expense. Subject to Section 7.14 with respect to obtaining such holder's consent and completing the release of such outparcels, if any of the foregoing of this Section 9.4(h) is not satisfied at Closing or waived by Purchaser, then Purchaser shall acquire such out parcels and grant Seller an option to purchase them back substantially in the form of EXHIBIT 9.4(h) of the Disclosure Schedule.
Sample 1
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