Crossroads Property definition
Examples of Crossroads Property in a sentence
The Commissions will pay to DRPT the rental amounts shown on Appendix B for use and occupancy of the Crossroads Property.
Seller Parties and Seller Parent (each individually and collectively, as the context requires, “Seller”) hereby represent that Cedar-▇▇▇▇▇▇▇▇, LLC completed the acquisition of the limited partnership interests in the owner of the Crossroads Property from Crossroads Partner as contemplated in Section 5.1(l) of the Agreement and accordingly, the Crossroads Property shall be included as an Acquired Property at Closing in accordance with the terms of the Agreement.
Certain additional information regarding the Colinas Industrial Portfolio Loan and the Las Colinas Distribution Center Property, the Crossroads Property and the North Great Southwest Distribution Center Property is set forth on Appendix II hereto.
The Las Colinas Distribution Center Property, the Crossroads Property and the North Great Southwest Distribution Center Property are managed by Lincoln Property Company CSE.
The Crossroads Property, located in the northeast portion of Dallas, Texas, is situated on a 14.53 acre tract of land improved with two office/warehouse facilities constructed in 1982 and containing a total of 236,230 net rentable square feet of space, which is 100 percent leased to four tenants, namely Sears Roebuck and Company (61%), Advanced Power, Inc.
The amounts required to be reserved under the applicable Seller’s Loan Documents have been fully funded and, as of the Effective Date, are: (i) $188,131.72 as to the Argonne Bridge Property, (ii) $100,000 in the form of the letter of credit described in Section 12.2(b) as to the Crossroads Property and (iii) $188,363.60 as to the ▇▇▇▇▇ Property consisting of a tax escrow of $64,672.34, insurance escrow of $2,400.39, economic occupancy holdback of $101,619.83, and a replacement reserve of $19,671.04.
At the Closing of the Crossroads Property, Buyer shall deliver a replacement letter of credit to the holder of the Loan Obligation on the Crossroads Property.
If Seller’s Property is being conveyed subject to a Loan Obligation, all installments of interest and principal and all other sums required to be paid under the terms of Seller’s Loan Documents have been paid and, as of the Effective Date, the aggregate outstanding principal amount of such Loan Obligation is (i) $6,150,000 as to the Argonne Bridge Property, (ii) $6,350,000 as to the Crossroads Property and (iii) $4,480,000 as to the ▇▇▇▇▇ Property.
I agree to indemnify and reimburse Crossroads for any and all damages resulting to Crossroads Property from the use of the Carnegie Library Building, normal wear and tear expected.
Buyer and Sellers acknowledge and agree that (i) the Argonne Water Property is owned by a single Seller and (ii) each of the Argonne Bridge Property, the Bridgepoint Property, the Park 355 Property, the Crossroads Property, the ▇▇▇▇▇ Property and the Aurora Property is owned by two or more Sellers (each such group that owns a Property being referred to herein as a “Seller Group”).