Building Purchase definition

Building Purchase means the purchase by WTC of all of the Property for (1) Fifty Million Dollars ($50,000,000) in cash (subject to adjustment as set forth in the agreements and documents evidencing the Building Purchase), and (ii) the issuance by WTC and Communications (or, pursuant to the terms of such agreement, Reorganized Communications), as makers, and WCL, as guarantor, of a 10-year promissory note made payable to ▇▇▇▇▇▇▇▇ Headquarters Building Company, a Delaware corporation, in the amount of One Hundred Million Dollars ($100,000,000) (reduced by the amount realized from the disposition or refinancing of the outstanding Aircraft Dry Leases, dated September 13, 2001, or the aircraft covered thereby, as set forth in the agreements and documents evidencing the Building Purchase) with interest at the rate of 7% per annum, and principal to be amortized until maturity on the basis of a 30-year schedule, the payment of which shall be secured by a first lien mortgage and security interest in and to the Property.
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Building Purchase in Section 1.01 of the Agreement is hereby amended and restated in its entirety to read as follows:
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Building Purchase means the purchase by WTC of all of the Property for an aggregate purchase price of One Hundred Fifty Million Dollars ($150,000,000) payable to Williams Headquarters Building Company as follows: (i) the i▇▇▇▇▇▇▇ of a promissory note made by WTC and WCL, as co-issuers, and guaranteed by Reorganized Communications in the stated face amount of Seventy-Four Million Three Hundred Sixty Thousand Two Hundred Ninety-Five Dollars and Thirty Cents ($74,360,295.30), which amount is payable in full on December 29, 2006 and represents the original principal amount of Forty Four Million Eight Hundred Thousand Dollars ($44,800,000) (which sum reflects a $50,000,000 portion of the purchase price reduced by $5,200,000 relating to the certain credits as set forth in the agreements and documents evidencing the Building Purchase) and accreted interest on the outstanding principal commencing at the rate of 10% per annum through December 31, 2003, and increasing each calendar year thereafter by 2% per annum until the maturity date of December 29, 2006, and (ii) the issuance of a promissory note made by WTC and WCL, as co-issuers, and guaranteed by Reorganized Communications, in the amount of One Hundred Million Dollars ($100,000,000) with interest at the rate of 7% per annum, and principal to be amortized until maturity on the basis of a 30-year schedule, with the entire outstanding principal balance and accrued but unpaid interest thereon due and payable in full on the date which is seven and one half (7 1/2) years from the date of Closing. The payment of each promissory note referred to in clauses (i) and (ii) above, is secured by a first lien mortgage and security interest in and to the Property and a second lien on certain pledged collateral subject to Permitted Encumbrances as defined in the Mortgage with Power of Sale, Security Agreement, Assignment of Leases, Rents and Profits, Financing Statement and Fixture Filing date as of October 15, 2002 made by Williams Technology Center, LLC to Williams Headquarters Bui▇▇▇▇▇ ▇▇mpany.
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Examples of Building Purchase in a sentence

  • Notwithstanding anything contained herein to the contrary, in the event the Lease is terminated or expires prior to the exercise of the Building Purchase Offer by Tenant, then the Building Purchase Offer shall terminate.

  • Tenant shall have fifteen (15) days after receipt of the Building Notice to Sell to deliver an offer to Landlord offering to purchase the Building (the " Building Notice of Purchase") for the Building Purchase Price and on the terms set forth in the Building Notice to Sell.

  • Provided that no Default has occurred and is then continuing, Landlord hereby grants to Tenant a right of first offer (the "Building Purchase Offer") to purchase the Building, subject to the terms and conditions set forth herein.

  • In connection with the closing of the Building Purchase Agreement, the Lenders shall be granted a fully subordinated, second priority lien on the Building Purchase Assets, the terms of which shall be mutually agreed upon by the Debtors, TWC, Leucadia, the Committee and the Administrative Agent (the "Lender Second Mortgage").

  • The Building Purchase shall have been consummated or shall be consummated concurrently with the Closing.

  • At the Closing, North Central will have executed and delivered to B▇▇▇ and L▇▇▇▇▇▇ the Building Purchase Agreement, the Lease and Option to Purchase Agreement, the B▇▇▇ Employment Agreement and the L▇▇▇▇▇▇ Employment Agreement, if North Central is under the control of Buyer at the time of any failure to so execute and deliver any one or more of such documents.

  • Landlord hereby grants Tenant the option to purchase the Real Property and Building ("Purchase Option").

  • All proceedings taken and all documents executed and delivered by the parties to this Agreement at the Closing will be deemed to have been taken and executed simultaneously, except that the Closing of the Building Purchase Agreement will be deemed to have been completed prior to the Closing of the purchase and sale of the Stock and the execution and delivery of the Lease and Option to Purchase Agreement.

  • Borrower shall cause ▇▇▇▇▇▇▇▇’s Designee, on behalf of ▇▇▇▇▇▇▇▇, to pay the Adjusted Building Purchase Price in immediately available funds to Lender upon the consummation of transactions contemplated by the A&M PSA.

  • Borrower shall deliver to ▇▇▇▇▇▇ executed copies of the Building Purchase Documentation referred to in Sections 9.2.1, 9.2.2 and 9.2.3 of the A&M PSA, the A&M PSA, and any and all amendments, supplements and other modifications to the A&M PSA.

Related to Building Purchase

  • Building Square Footage or "BSF" means the square footage of assessable internal living space of a Unit, exclusive of any carports, walkways, garages, overhangs, patios, enclosed patios, detached accessory structure, other structures not used as living space, or any other square footage excluded under Government Code Section 65995 as determined by reference to the Building Permit for such Unit.

  • Building drain means that part of the lowest horizontal piping of a drainage system which receives the discharge from soil, waste, and other drainage pipes inside the walls of the building and conveys it to the building sewer, beginning five (5) feet (1.5 meters) outside the inner face of the building wall.

  • Building means any structure used or intended for supporting or sheltering any use or occupancy.

  • Existing Building means a building that (a) was in existence and completely constructed on the date that the Applicant first submitted its Application, or (b) in respect of which the IESO has, in its sole and absolute discretion, issued a written confirmation that the building will be deemed an Existing Building for the purposes of the definition of Rooftop Facility.

  • Principal building means the main building or structure on a single lot or parcel of land and includes any attached garage or attached porch.