Purchase and Sale of Merchandise Inventory. An inventory of all merchandise will be conducted not earlier than 15 days prior to Closing but not later than 1 day prior to Closing (the “Inventory Period”), and Contributor shall sell, transfer, and deliver to the Operating Partnership all of the merchandise and other inventory used in connection with the Property. As used in this Agreement, the “Merchandise” will include only unopened merchandise and merchandise that (i) is not obsolete and (ii) has an expiration of 30 days or more after Closing Date. 2.3.2
Appears in 3 contracts
Samples: Contribution Agreement (Lodging Fund REIT III, Inc.), Contribution Agreement (Lodging Fund REIT III, Inc.), Contribution Agreement (Lodging Fund REIT III, Inc.)
Purchase and Sale of Merchandise Inventory. An inventory of all merchandise will be conducted not earlier than 15 days prior to Closing but not later than 1 day prior to Closing (the “Inventory Period”), and Contributor shall sell, transfer, and deliver to the Operating Partnership all of the merchandise and other inventory used in connection with the Property. As used in this Agreement, the “Merchandise” will include only unopened merchandise and merchandise that (i) is not obsolete and (ii) has an expiration of 30 days or more after Closing Date. 2.3.2.
Appears in 1 contract
Samples: Contribution Agreement (Lodging Fund REIT III, Inc.)