Real Estate Agreement. This Agreement will not become effective --------------------- unless the Real Estate Agreement, the Companion Business Agreements, and the Companion Real Estate Agreements are signed at the same time that this Agreement is signed. If ARCO terminates the Real Estate Agreement in accordance with its terms, Seller may terminate this Agreement without further liability to Buyer. If Buyer terminates the Real Estate Agreement in accordance with its terms, Buyer may terminate this Agreement without further liability to Seller. GENERAL PROVISIONS ------------------
Real Estate Agreement. The execution and delivery of this Agreement is contingent upon the concurrent and simultaneous execution and delivery of the Real Property Purchase and Sale Agreement.
Real Estate Agreement. The Real Estate Agreement shall have been entered into and shall not have been terminated.
Real Estate Agreement. Seller shall have executed and delivered --------------------- the Real Estate Agreement to Buyer;
Real Estate Agreement. This Agreement will not become effective --------------------- unless the Real Estate Agreement, the Companion Business Agreements, and the Companion Real Estate Agreements are signed at the same time that this Agreement is signed. If ARCO terminates the Real Estate Agreement in accordance with its terms, Seller may terminate this Agreement without further liability to Buyer. If Buyer terminates the Real Estate Agreement in accordance with its terms, Buyer may terminate this Agreement without further liability to Seller. GENERAL PROVISIONS ------------------ G1 Notices. Notices relating to this Agreement must be in writing and ------- sent to the addresses set forth in Section 1. But a party may change its address for notices by giving notice as required by this Section G1. A written notice will be considered given (i) when personally delivered, (ii) two business days after deposit in the U.S. Mail as first class mail, certified or registered, return receipt requested, with postage prepaid, (iii) one business day after deposit with a reputable overnight delivery service for next business day delivery, or (iv) on the business day of successful transmission by electronic facsimile.
Real Estate Agreement. Concurrently with the execution hereof, the parties shall enter into the Real Estate Agreement attached as Exhibit 2.5 hereto (the “Real Estate Agreement”). Closing under the Real Estate Agreement is not a condition to Closing under this Agreement. In the event that Buyer terminates the Real Estate Agreement as permitted therein, Seller agrees to negotiate a short term rental of the Long Beach Property with Buyer on commercially reasonable terms. Buyer may assign the Real Estate Agreement to an affiliate.
Real Estate Agreement. On October 15, 2015, Real Estate entered into a Purchase and Sale Agreement with 23rd and 11th Associates, L.L.C., for the sale of a portion of Real Estate’s real property and improvements thereon located in Manhattan, New York for $200.0 million. Such agreement has been amended from time to time and was subject to several material regulatory contingencies. Real Estate believes that as of April 26, 2017, the last significant local regulatory contingency has been resolved and the closing of the sale of such property is reasonably expected to occur in August 2017. Real Estate will maintain ownership of one building at the Manhattan location thus allowing U-Haul to serve the equipment rental needs of our customers in the area. Real Estate’s book value of the property being sold is approximately $5 million. The Company intends to reinvest the proceeds into its self-storage holdings via a tax free exchange pursuant to Section 1031 of the Internal Revenue Code. SCHEDULE I CONDENSED FINANCIAL INFORMATION OF AMERCO BALANCE SHEETS March 31, 2017 2016 (In thousands) ASSETS Cash and cash equivalents $ 361,231 $ 381,690 Investment in subsidiaries 1,522,083 1,185,021 Related party assets 1,474,948 1,249,835 Other assets 78,119 94,128 Total assets $ 3,436,381 $ 2,910,674 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: Other liabilities $ 809,705 $ 653,082 Stockholders' equity: 809,705 653,082 Preferred stock – – Common stock 10,497 10,497 Additional paid-in capital 452,382 451,839 Accumulated other comprehensive loss (51,236) (60,525) Retained earnings: Beginning of period 2,533,431 2,142,390 Net earnings 398,424 489,001 Dividends (39,172) (97,960) End of period 2,892,683 2,533,431 Cost of common shares in treasury (525,653) (525,653) Cost of preferred shares in treasury (151,997) (151,997) Total stockholders' equity 2,626,676 2,257,592 Total liabilities and stockholders' equity $ 3,436,381 $ 2,910,674 The accompanying notes are an integral part of these condensed consolidated financial statements.
Real Estate Agreement. Buyer and Seller shall execute and deliver to one another the Real Estate Agreement within one (1) day of the Closing Date.
Real Estate Agreement. The Closing under the Real Estate Agreement shall occur concurrent with the Closing hereunder.
Real Estate Agreement. The Trust and the Purchaser shall have entered into the Real Estate Agreement and closed the purchase and sale of the Real Property in accordance therewith. The closing under the Real Estate Agreement and the Closing under this Agreement shall occur simultaneously and the closing of each such transaction is a condition precedent to the closing of the other.
