CLP Managed Properties definition
Examples of CLP Managed Properties in a sentence
In addition, with respect to the CLP Managed Properties, Buyer shall receive a credit against the Purchase Price in an amount equal to any known deficiency in the insurance proceeds with respect to the repair of such damage or destruction.
Sellers of the CLP Managed Properties shall pay or cause to be paid all Seller Payables, including bills and invoices for labor, goods, materials, services, utility charges, employee salary and benefits and all other charges for goods or services furnished to the Properties prior to the Closing Date.
All employees at the CLP Leased Properties are employees of the applicable Tenant or its affiliate and all employees at the CLP Managed Properties are employees of the applicable Manager or its affiliate.
Seller shall be responsible and liable for, with respect to the CLP Managed Properties only, all applicable sales taxes, social security taxes, withholding taxes, unemployment compensation tax and workers’ compensation tax accruing or otherwise payable prior to the Closing Date.
Sellers shall receive a credit for, and shall assign to Buyer, all deposits made by Sellers at the CLP Managed Properties for any utility services; Sellers shall request that the companies and municipalities furnishing utility services to the CLP Managed Properties make termination readings on the morning of the Closing Date, or on a date as soon thereafter as practicable, and submit final statements for utility services, which shall be reconciled pursuant to the Statement of Adjustments.
Sellers with respect to the CLP Managed Properties shall pay or cause to be paid all Sellers Payables, including bills and invoices for labor, goods, materials, services, utility charges, employee salary and benefits and all other charges for goods or services furnished to the Properties prior to the Closing Date.
All Contracts, except those listed on Schedule 8.2, are “Approved Contracts.” The Approved Contracts shall include all Resident Agreements (with respect to the CLP Managed Properties) and all Contracts entered into in compliance with Section 12.
The Sellers that own CLP Managed Properties represent and warrant that the list attached as Schedule 10.1(u) is, as of the date stated therein, a true and correct list in all material respects of Bookings to take place after the Closing and of the deposits received with respect to such Bookings.