Contract Properties definition
Examples of Contract Properties in a sentence
In addition, on each Permitted Supplement Date, the Contributors may update Exhibit B to reflect acquisitions of Contract Properties that may have occurred.
Individually or collectively, as applicable, the Closing of the transfer of the Interests related to one or more of the Contract Properties to Homburg in accordance with the terms of this Agreement.
For avoidance of doubt, no Applicable Partnership Party will be required to pay any ▇▇▇▇▇ overhead charges to any Applicable EXCO Operator with respect to any Contract Wellbores or Contract Properties as such overhead charges that might have been otherwise payable to the Applicable EXCO Operator under a Third Party Operating Agreement are included in the Administrative Services Fee.
Homburg acknowledges and agrees that any and all due diligence investigations that Homburg desires to perform with respect to the Contract Properties shall be coordinated through and approved by Cedar (such consent not to be unreasonably withheld), pursuant to written requests made by Homburg to Cedar, it being acknowledged and agreed however, that Cedar shall not be required to incur any cost or expense in connection therewith.
During the Due Diligence Period, Cedar shall provide Homburg with reasonable access to the Existing Cedar Properties and, subject to the terms of this Section 6, the Contract Properties upon reasonable advance notice for the sole purpose of performing the Investigations with respect thereto.
In addition, Cedar agrees to deliver to Homburg, promptly upon receipt thereof, copies of any and all Tenant Estoppels received from tenants under Leases affecting the Contract Properties.
To the knowledge of Cedar and except as set forth in Schedule 5 attached hereto, there is no material pending or threatened litigation against any Contract Property or against any Contract Property Owner other than claims made in the ordinary course of the business of owning and operating the Contract Properties and the Contract Property Owners, as applicable.
On exercising the option, the notified Party shall, within thirty (30) days, pay to the Acquiring Party the proportionate share of the cost of the purchase or acquisition of the Newly Acquired Property, which property shall then become a part of the Contract Properties.
To the extent not previously provided, Cedar agrees to furnish to Homburg promptly following the date hereof, copies of all existing third party studies and reports relating to any investigations undertaken by Cedar or any Cedar Related Party with respect to the Contract Properties pursuant to the applicable Purchase Contracts and, promptly after Cedar’s receipt of the same, Cedar agrees to furnish to Homburg copies of any such third party studies and reports received by Cedar after the date hereof.
In addition, on each Permitted Supplement Date, Meruelo Trust may update Exhibit A to reflect acquisitions of Contract Properties that may have occurred.