Property Contracts definition
Property Contracts shall have the meaning ascribed to such term in Section 5.11(a) hereof.
Property Contracts means all maintenance, service and other operating contracts, equipment leases and other arrangements or agreements to which the Company or any Company Subsidiary or any affiliate of such Person is a party affecting the ownership, repair, maintenance, management, leasing or operation of the Properties, but not including Leases.
Property Contracts means all contracts, agreements, equipment leases, purchase orders, maintenance, service, or utility contracts and similar contracts, excluding Leases, which relate to the ownership, maintenance, construction or repair and/or operation of the Property, but only to the extent assignable by their terms or applicable law (including any contracts that are assignable with the consent of the applicable vendor), and not including (a) any national contracts entered into by Seller, Property Manager, or AIMCO with respect to the Property (i) which terminate automatically upon transfer of the Property by Seller, or (ii) which Seller, in Seller’s sole discretion, elects to terminate with respect to the Property effective as of the Closing Date, or (b) any property management contract for the Property. Property Contracts shall not include forward or similar long-term contracts to purchase electricity, natural gas, or other utilities, which contracts shall be “Utility Contracts” governed by the provisions of Section 5.4.11.
Examples of Property Contracts in a sentence
Each Seller shall comply in all material respects with the terms and provisions of the Property Contracts applicable to such Seller.
Seller acknowledges that Purchaser will not assume the Property Contracts identified on Schedule 3.6(a) (the “Terminated Contracts”), and at Closing Seller shall deliver to Purchaser copies of any such termination notices sent out as are required to terminate such Terminated Contracts; provided that to the extent notice of termination may be send prior to Closing and revoked in the event of a termination of this Contract, Seller shall send such notices promptly after the Effective Date.
The Property Contracts actually assigned to Purchaser at Closing pursuant to this Section 3.6 are each an “Assumed Contract”).
Sellers have provided to Purchaser true, correct and complete copies of all Property Contracts (other than National Contracts) listed on Schedule 6.1.4. Each such Seller has not received any written notice of any, and to such Seller’s knowledge, there is no default by such Seller under any of its Property Contracts that either (i) remains uncured beyond any applicable notice and cure period or (ii) is under a Property Contract that is not a Terminated Contract.
More Definitions of Property Contracts
Property Contracts means, with respect to each Property, all contracts, agreements, equipment leases, purchase orders, maintenance, service and similar contracts (together with all amendments, modifications and supplements thereto), excluding Leases, regardless of whether entered into by the applicable Seller, the applicable Property Manager, or an affiliate of either, which relate to the ownership, use, maintenance, construction or repair and/or operation of such Property or otherwise binding on such Property or Seller (other than Permitted Exceptions and loan documents with respect to financing to be satisfied and terminated at Closing).
Property Contracts means, with respect to each Property, all contracts, agreements, equipment leases, purchase orders, maintenance, service, or utility contracts and similar contracts, excluding Leases, which relate to the ownership, maintenance, construction or repair and/or operation of such Property, but only to the extent assignable by their terms or applicable law (including any contracts that are assignable with the consent of the applicable vendor), and not including (a) any national contracts entered into by the applicable Seller, Property Manager, or AIMCO with respect to the applicable Property (i) which terminate automatically upon transfer of such Property by such Seller, or (ii) which such Seller, in Seller’s sole discretion, elects to terminate with respect to such Property in accordance with Section 3.6, effective as of the Closing Date, or (b) any property management contract for such Property.
Property Contracts means all purchase orders, maintenance, service, or utility contracts and similar contracts, which relate to the ownership, maintenance, construction or repair and/or operation of the Property and which are not cancelable on thirty (30) days* or shorter Notice.
Property Contracts means all purchase orders, maintenance, service, or utility contracts and similar contracts, which relate to the ownership, maintenance, construction or repair and/or operation of the Property and which Purchaser has elected in writing to assume prior to the expiration of the Feasibility Period, except Commercial Leases. 1.1.18 "PURCHASE CONTRACT" means this Purchase and Sale Contract by and between Seller and Purchaser. 1.1.19 "PURCHASE PRICE" means the total consideration to be paid by Purchaser to Seller for the purchase of the Property. 1.1.20 "SURVEY" shall have the meaning ascribed thereto in Section 6.12. 1.1.21 "TENANT" means any person or entity entitled to occupy any portion of the Property under a Commercial Lease. 1.1.22 "TITLE COMMITMENT" or "Title Commitments" shall have the meaning ascribed thereto in Section 6.1. 1.1.23 "TITLE INSURER" shall have the meaning set forth in Section 6.1.
Property Contracts means the Leases and the Ancillary Property Contracts and "Property Contract" shall mean any one of them;
Property Contracts means the Leases and the Ancillary Property Contracts and
Property Contracts means all purchase orders, maintenance, service, or utility contracts and similar contracts, which relate to the ownership, maintenance, construction or repair and/or operation of the Property and which are not cancelable on 90 days' or shorter Notice, except Commercial Leases.