SLC Property definition
SLC Property means the Individual Property owned as of the date hereof by SLC Fee Owner.
Examples of SLC Property in a sentence
The Contributors have advised the Operating Partnership that (i) under the terms of the Leases (as defined below), rent is paid one (1) month in arrears; and (ii) the Property LLCs (except the SLC LLC) have entered into Supplemental Lease Agreements executed prior to the Contract Date (“SLA”) with respect to each Property except the SLC Property and each SLA constitutes a portion of the Lease for each such Property (other than the SLC Property).
As discussed above, at the time of the Closing, the SLC Property shall be under development pursuant to the requirements of the SLC Lease.