Common use of Sale of Interests Clause in Contracts

Sale of Interests. Trustee shall attempt to maximize the purchase price of the Interests (the "Purchase Price") as directed in writing by the Affiliate, provided, however, that the Trustee may not sell the Interests for less than ____________'s pro rata share of the appraised fair market value of the Property (without any discounts) (the "Forced Sale Value") unless it is directed to do so by the holders of a majority in aggregate principal amount of the Bonds at the time Outstanding. For purposes of this Agreement and the Indenture, the Forced Sale Value of the Interests during the initial one (1) year term of this Agreement is deemed to be $_______________. If the term of this Agreement is extended beyond such initial one (1) year term as provided in Section 3(a) hereof, the Forced Sale Value of the Interests shall be determined annually by an independent third-party appraiser selected by the Issuer. Proceeds from the Purchase Price shall be paid to the Trustee and disbursed in accordance with the Indenture.

Appears in 2 contracts

Samples: Forced Sale Agreement (GK Investment Holdings, LLC), Forced Sale Agreement (GK Investment Holdings, LLC)

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Sale of Interests. Trustee shall attempt to maximize the purchase price of the Interests (the "Purchase Price") as directed in writing by the Affiliate, provided, however, that the Trustee may not sell the Interests for less than ____________'s KPSM’s pro rata share of the appraised fair market value of the Property (without any discounts) (the "Forced Sale Value") unless it is directed to do so by the holders of a majority in aggregate principal amount of the Bonds at the time Outstanding. For purposes of this Agreement and the Indenture, the Forced Sale Value of the Interests during the initial one (1) year term of this Agreement is deemed to be $_______________4,986,386.00. If the term of this Agreement is extended beyond such initial one (1) year term as provided in Section 3(a) hereof, the Forced Sale Value of the Interests shall be determined annually by an independent third-party appraiser selected by the Issuer. Proceeds from the Purchase Price shall be paid to the Trustee and disbursed in accordance with the Indenture.

Appears in 1 contract

Samples: Forced Sale Agreement (GK Investment Holdings, LLC)

Sale of Interests. Trustee shall attempt to maximize the purchase price of the Interests (the "Purchase Price") as directed in writing by the Affiliate, provided, however, that the Trustee may not sell the Interests for less than ____________KPSM's pro rata share of the appraised fair market value of the Property (without any discounts) (the "Forced Sale Value") unless it is directed to do so by the holders of a majority in aggregate principal amount of the Bonds at the time Outstanding. For purposes of this Agreement and the Indenture, the Forced Sale Value of the Interests during the initial one (1) year term of this Agreement is deemed to be $_______________4,986,386.00. If the term of this Agreement is extended beyond such initial one (1) year term as provided in Section 3(a) hereof, the Forced Sale Value of the Interests shall be determined annually by an independent third-party appraiser selected by the Issuer. Proceeds from the Purchase Price shall be paid to the Trustee and disbursed in accordance with the Indenture.

Appears in 1 contract

Samples: Forced Sale Agreement (GK Investment Holdings, LLC)

Sale of Interests. Trustee shall attempt to maximize the purchase price of the Interests (the "Purchase Price") as directed in writing by the Affiliate, provided, however, that the Trustee may not sell the Interests for less than ____________'s GKPII’s pro rata share of the appraised fair market value of the Property (without any discounts) (the "Forced Sale Value") unless it is directed to do so by the holders of a majority in aggregate principal amount of the Bonds at the time Outstanding. For purposes of this Agreement and the Indenture, the Forced Sale Value of the Interests during the initial one (1) year term of this Agreement is deemed to be $_______________3,063,578.00. If the term of this Agreement is extended beyond such initial one (1) year term as provided in Section 3(a) hereof, the Forced Sale Value of the Interests shall be determined annually by an independent third-party appraiser selected by the Issuer. Proceeds from the Purchase Price shall be paid to the Trustee and disbursed in accordance with the Indenture.

Appears in 1 contract

Samples: Forced Sale Agreement (GK Investment Holdings, LLC)

Sale of Interests. Trustee shall attempt to maximize the purchase price of the Interests (the "Purchase Price") as directed in writing by the Affiliate, provided, however, that the Trustee may not sell the Interests for less than ____________GKPII's pro rata share of the appraised fair market value of the Property (without any discounts) (the "Forced Sale Value") unless it is directed to do so by the holders of a majority in aggregate principal amount of the Bonds at the time Outstanding. For purposes of this Agreement and the Indenture, the Forced Sale Value of the Interests during the initial one (1) year term of this Agreement is deemed to be $_______________4,289,009.00. If the term of this Agreement is extended beyond such initial one (1) year term as provided in Section 3(a) hereof, the Forced Sale Value of the Interests shall be determined annually by an independent third-party appraiser selected by the Issuer. Proceeds from the Purchase Price shall be paid to the Trustee and disbursed in accordance with the Indenture.

Appears in 1 contract

Samples: Forced Sale Agreement (GK Investment Holdings, LLC)

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Sale of Interests. Trustee shall attempt to maximize the purchase price of the Interests (the "Purchase Price") as directed in writing by the Affiliate, provided, however, that the Trustee may not sell the Interests for less than ____________GKPII's pro rata share of the appraised fair market value of the Property (without any discounts) (the "Forced Sale Value") unless it is directed to do so by the holders of a majority in aggregate principal amount of the Bonds at the time Outstanding. For purposes of this Agreement and the Indenture, the Forced Sale Value of the Interests during the initial one (1) year term of this Agreement is deemed to be $_______________3,063,578.00. If the term of this Agreement is extended beyond such initial one (1) year term as provided in Section 3(a) hereof, the Forced Sale Value of the Interests shall be determined annually by an independent third-party appraiser selected by the Issuer. Proceeds from the Purchase Price shall be paid to the Trustee and disbursed in accordance with the Indenture.

Appears in 1 contract

Samples: Forced Sale Agreement (GK Investment Holdings, LLC)

Sale of Interests. Trustee shall attempt to maximize the purchase price of the Interests (the "Purchase Price") as directed in writing by the Affiliate, provided, however, that the Trustee may not sell the Interests for less than ____________'s GKPII’s pro rata share of the appraised fair market value of the Property (without any discounts) (the "Forced Sale Value") unless it is directed to do so by the holders of a majority in aggregate principal amount of the Bonds at the time Outstanding. For purposes of this Agreement and the Indenture, the Forced Sale Value of the Interests during the initial one (1) year term of this Agreement is deemed to be $_______________4,289,009.00. If the term of this Agreement is extended beyond such initial one (1) year term as provided in Section 3(a) hereof, the Forced Sale Value of the Interests shall be determined annually by an independent third-party appraiser selected by the Issuer. Proceeds from the Purchase Price shall be paid to the Trustee and disbursed in accordance with the Indenture.

Appears in 1 contract

Samples: Forced Sale Agreement (GK Investment Holdings, LLC)

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