Common use of Threshold Trigger Clause in Contracts

Threshold Trigger. The Partners agree that, subject to the terms of this Agreement, the aggregate anticipated capital commitment from the Partners for the acquisition of Properties for this Partnership is $150 Million (the “First Fund Amount”). The aggregate amount of anticipated capital commitment from the parties that enter into (i) the Second Joint Venture shall be as set forth in the general partnership agreement that shall govern the Second Joint Venture (the “Second Fund Amount”) and (ii) the Third Joint Venture shall be as set forth in the general partnership agreement that shall govern the Third Joint Venture (the “Third Fund Amount”). The term “Applicable Fund Amount” as used in this Agreement shall mean the First Fund Amount, the Second Fund Amount or the Third Fund Amount, as may be applicable. Notwithstanding anything to the contrary contained in Section 15.3, the Initial Exclusivity Period shall be extended until December 31, 2007 (the “Second Exclusivity Period”) if either (i) the Partnership Expends the First Fund Amount on the acquisition of Properties on or before December 31, 2006, or (ii) DCT LLC has offered to the Partnership, on or before December 31, 2006, in accordance with the provisions and timing requirements set forth in Article 9 hereof, Acquisition Properties which satisfy the Investment Criteria and are not rejected at any time during the review process described in Article 9 because it no longer complies with the Investment Criteria and have an aggregate value equal to or greater than 125% of the First Fund Amount; provided, however, that with respect to First Fund Amount only, the Partners have agreed to subtract the value of the Seed Assets ($79,500,000) prior to making the calculation under (ii), so that the amount remaining to be offered on the acquisition of Properties on or before December 31, 2006 for purposes of clause (ii) above, as of the date of this Agreement, is $88,125,000 (($150,000,000 - $79,500,000) x 125%). In addition, the Second Exclusivity Period shall be extended until December 31, 2008 (the “Third Exclusivity Period”) if either (i) the Second Joint Venture Expends the Second Fund Amount on the acquisition of Properties on or before December 31, 2007, or (ii) DCT LLC has offered to the Second Joint Venture, on or before December 31, 2007, in accordance with the provisions and timing requirements set forth in Artcle 9 hereof, Acquisition Properties which satisfy the Investment Criteria and are not rejected at any time during the review process described in Article 9 because it no longer complies with the Investment Criteria (as such term shall be defined in the Second Joint Venture) and have an aggregate value equal to or greater than 125% of the Second Fund Amount. For purposes of this Section 15.4, the term “Expends” shall mean capital placed as well as capital committed to be placed it being agreed that Proposed Assets that the Partnership is obligated to acquire but for which the closing has yet to occur are to be included in making the calculations under this Section 15.4.