LVA Property definition
Examples of LVA Property in a sentence
The rent roll for each of the Partnership Properties and the LVA Property delivered to Buyer is true, correct and complete as of the date thereof.
From the date hereof to the Closing Date, DSL shall manage and operate the Partnership Properties and the LVA Property in the ordinary and usual manner in which they have been operated and managed prior to the date hereof by DSL, and make all necessary repairs and replacements consistent with its prior practices.
Buyer specifically acknowledges that Seller shall be entitled to any refund of real and personal property taxes, installments of bonds and special taxes and assessments attributable to the Partnership Properties or to the LVA Property and allocable to the period prior to Close of Escrow.
Seller has received no written notice that the current use and operation of the Partnership Properties or the LVA Property are not in compliance with applicable Environmental Laws, building codes, zoning and land use laws, and other applicable local, state and federal laws and regulations.
If prior to Close of Escrow a taking or condemnation of any portion of any one of the Partnership Properties or the LVA Property has occurred, either party, at its option, may terminate this Agreement within five (5) days after Seller has sent and Buyer has received written notice of such event (and, if necessary, Close of Escrow shall be extended by the number of days necessary to give Buyer this full five (5) day period but not beyond the Outside Closing Date).
The current preliminary reports issued by Title Company for each of the Partnership Properties and the LVA Property and all of the exceptions contained in such reports.
For purposes hereof, the value of each of the Partnership Properties and the LVA Property are as follows: Cameron Park Shopping Center - $6,000,000; Ontario Village Plaza - $5,000,000; West ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ - $2,000,000; and the LVA Property - $42,000,000.
The Deeds, duly executed and acknowledged by the JV Partnerships which own the Partnership Properties, conveying the Partnership Properties to the Umbrella Partnership and by LVA conveying the LVA Property.
DSL shall have delivered to Buyer not less than ten (10) days prior to the Closing, and Buyer shall have approved not less than five (5) days prior to the Closing, estoppel certificates in the form attached hereto as EXHIBIT H or in the form required by a Lease with respect to such Lease ("Estoppels") from the major tenants (listed on the attachment to EXHIBIT H) and all other Tenants on each of the Partnership Properties and the LVA Property.
At the Closing, Buyer, as assignee of the Partnership Interests, and the respective Rile▇/▇▇▇r▇▇▇▇ ▇▇▇tner shall cause each of DSL/Ontario, DSL/West Lancaster Phase II and DSL/Cameron Park to convey the Partnership Properties and LVA Associates to convey the LVA Property to the Umbrella Partnership by grant deed (the "Deeds"), in the form of EXHIBIT G, attached hereto.