Common Decision definition
Common Decision has the meaning ascribed thereto in Section 6.14 of this Agreement.
Common Decision means any of the following decisions:
Common Decision means, on or after four (4) years from the applicable date the Property (on a Property by Property basis) was first acquired by the Partnership (or by TRT LLC with respect to a DCX Asset), selling, transferring, assigning or otherwise disposing of any portion or all of the Fee Owners’ Interest in such Property, such Property or any interest therein (except immaterial items of personal property in the ordinary course of business) or entering into a binding agreement to sell, transfer, assign or otherwise dispose of any portion or all of the Fee Owners’ Interest, such Property or any of them or any interest therein (except immaterial items of personal property in the ordinary course of business) or entering into any amendment, renegotiation, modification, supplement or extension of a binding agreement to sell, transfer, assign or otherwise dispose of any portion or all of the Fee Owners’ Interest, such Property or any of them or any interest therein. For all Common Decisions, either Partner may initiate the taking of a Common Decision and if the other Partner does not agree with the proposed initiative, the Partners shall confer for sixty (60) days in good faith and if the Partners continue to disagree on the initiative it shall constitute an “Impasse”. Thereafter, either Partner may invoke their rights under the provisions of Section 16.1, but only with respect to the Property or Properties in question.
Examples of Common Decision in a sentence
For all Common Decisions, either Partner may initiate the taking of a Common Decision and if the other Partner does not agree with the proposed initiative, the Partners shall confer for sixty (60) days in good faith and if the Partners continue to disagree on the initiative it shall constitute an “Impasse”.
For all Common Decisions, either Partner may initiate the taking of a Common Decision and if the other Partner does not agree with the proposed initiative, the Partners shall confer for sixty (60) days in good faith and if the Partners continue to disagree on the initiative it shall constitute an "Impasse".
More Definitions of Common Decision
Common Decision means, on or after four (4) years from the applicable date the Property (on a Property by Property basis) was first acquired by the Partnership (or by TRT LLC with respect to a DCX Asset), selling, transferring, assigning or otherwise disposing of any portion or all of the Fee Owners’ Interest in such Property, such Property or any interest therein (except immaterial items of personal property in the ordinary course of business) or entering into a binding agreement to sell, transfer, assign or otherwise dispose of any portion or all of the Fee Owners’ Interest, such Property or any of them or any interest therein (except immaterial items of personal property in the ordinary course of business) or entering into any amendment, renegotiation, modification, supplement or extension of a binding agreement to sell, transfer, assign or otherwise dispose of any portion or all of the Fee Owners’ Interest, such Property or any of them or any interest therein.