LAC II definition
Examples of LAC II in a sentence
In particular, (i) Lexington is the managing member of (A) Lexington Acquiport Company, LLC (“LAC I”), (B) Lexington Acquiport Company II, LLC (“LAC II”), and (C) Triple Net Investment Company LLC (“TNI”), and (ii) a Lexington affiliate is the managing general partner of Lexington/Lion Venture L.P. (“LION,” and, together with LAC, LAC II and TNI, collectively, the “Joint Ventures”).
Operating Agreement of Lexington Acquiport Company II, LLC ("LAC II"), dated as of December 5, 2001, by LXP and the Fund.
The total debt of the Company and LAC II at any time shall not exceed sixty-five percent (65%) of the market value of the assets of the Company and LAC II set forth in the current Acquiport Annual Plans (x) plus the capitalized cost of each asset acquired by the Company and LAC II since the ending date of the period covered by the current Acquiport Annual Plans and (y) minus the proceeds of any assets sold since the ending date of the period covered by the current Acquiport Annual Plans.
In the event that the Purchaser or LAC II is reimbursed under that certain Indemnity Agreement, made on August 27, 2004, among ▇▇▇▇▇▇ ▇▇▇▇ and ▇▇▇▇▇▇▇ ▇▇▇▇ and LAC II for the costs of such repairs, the amounts reimbursed shall first be applied to the excess that Purchaser or LAC II has advanced over the $3,500,000 reserve to reduce the excess to zero and thereafter 25% of the reimbursement to Purchaser and 75% of the reimbursement shall go to Seller.
The parties agree that the Purchase Price reflects the year-end reserve in an amount of $3,500,000 which is an estimate of the costs to repair the construction defects in the building owned by LAC II located at 10345 Philipp Parkway in Streetsboro, Ohio.