TGLT definition

TGLT means TGLT S.A., a corporation organized and validly existing under the laws of Argentina.

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TGLT commits to transfer opportunely the full ownership to "IRSA" who accepts such commitment, under the Horizontal Property Law (Law 13,512) of future real estate properties that will integrate the buildings that "TGLT" it is obligated to build on the property acquired in this agreement. The real estate properties that TGLT is obligated to transfer to IRSA will be part of the BUILDINGS designated temporarily with the letters "A", "B" and "C", and will have the percentages of such BUILDINGS detailed as follows: (i) a number to be determined of Housing Units (apartments) representing in the aggregate twenty three point ten (23.10%) of square meters of housing (apartments) of the said Buildings. "TGLT" also will guarantee to IRSA a minimum of six thousand nine hundred forty -five square meters (6,945 m2) marketable square meters of housing (department), of which 1,535 square meters (1,535 m2) will belong to the building designated by the letter "A"; two thousand four hundred eighteen square meters (2,418 m2) will belong to building designated with the letter "B"; and two thousand nine hundred ninety nine square meter (2,999 m2) will belong to the building designated with the letter " C", (ii) a number to be determined of parking spaces, representing in the aggregate twenty one point ten percent (21.10%) of the total square meters of parking spaces located in the two basement levels of the building that "TGLT" will build on the Property, with a guaranteed minimum for "IRSA" of one parking space for each Housing Units that corresponds as non-cash consideration in each of the BUILDINGS. "TGLT" has the right to build Complementary storage Units as long as it is authorized by the competent authority. In that case, "TGLT" will have the additional obligation to the obligations set forth in paragraphs (i) and (ii) to transfer to "IRSA" also in consideration for the transfer of the property, a number of supplementary storage units, to be determined, equivalent to twenty one point ten percent (21.1%) of square meters of storage spaces of buildings that "TGLT" will build in the property. It is noted that the selection criteria of Complementary Units corresponding to Functional Storage Space Housing Units (apartments) shall keep a similar proportionality to the selection criteria of one used by "IRSA". According the above mentioned, such functional units Housing (apartments), Functional Units parking spaces and Complementary storage Units will integrate all the buildings tha...

TGLT agrees and accepts possession of the Property, received on the day before the date of this agreement.

Examples of TGLT in a sentence

• By: Name: Title: By: Name: Title: SUMMARY OF PROPOSED TERMS OF TGLT CONVERTIBLE PREFERRED STOCK1 Item Description Issuer: TGLT S.A. (the “Company”).

• The parties agree that the value of the property transferred by this Agreement is set at the amount of EIGHTEEN MILLION EIGHT HUNDRED FORTY-THREE THOUSAND THOUSAND TWO HUNDRED THIRTY-ONE DOLLARS (US$18,843,231), which amount in turn represents the value of consideration both in-kind and cash, by TGLT, as indicated in paragraph 4 above.

• Notwithstanding the foregoing, TGLT commits not to make any presentation if observations by APSA were pending and without any liability for APSA due to any delay and without any possibility of claim thereon by TGLT.

• TGLT S.A. and THE BANK OF NEW YORK MELLON have duly executed this Deposit Agreement as of the day and year first set forth above and all Owners and Holders shall become parties hereto upon acceptance by them of Receipts issued in accordance with the terms hereof or any interest therein.

• TGLT only will fulfill the obligations assumed by the effective delivery and transfer of such Committed Units in the terms and conditions set forth in the Agreement and at this deed, but in no case can be interpreted that APSA assumes contingency risk or any alloys that such Committed Units not come to exist (in whole or in part), or come into existence in a manner other than that provided and agreed in the Agreement and / or the terms and conditions stipulated therein.

• By: Name: Title: By: Name: Title: PointState Argentum LLC 683 Capital Partners, LP Serengeti Asset Management, LP Knighthead Capital Management, LLC King Street Capital Management, L.P. Item Description Issuer: TGLT S.A. (the “Company”).

• This restriction is based on the obligations and commitments of TGLT under the "Contract" and this deed and those personal conditions of TGLT that have been specially considered by APSA for entering into this contract.

• Any and all notices to be given to the Company shall be deemed to have been duly given if personally delivered or sent by mail or cable, telex or facsimile transmission confirmed by letter, addressed to the Company at TGLT, Scalabrini Ortiz 3333, ▇▇▇ ▇▇▇▇▇, (▇▇▇▇▇▇▇▇) ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, Attention: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, Facsimile: +▇▇ ▇▇ ▇▇▇▇ ▇▇▇▇, or any other place to which the Company may have transferred its principal office with notice to the Depositary.

• For the balance of the value of property transferred, APSA declares and confirms that received from TGLT the amount of TEN MILLION SEVEN HUNDRED THOUSAND DOLLARS (US$10,700,000) [...

• Furthermore, and in the event they are built, TGLT committed to transfer a number of storage spaces representing a fifteen eighty two percent (15.82%) of total square meters of storage spaces that TGLT will build on the property.

More Definitions of TGLT

TGLT agrees and undertakes to the following: [ ...]

TGLT agrees to pay “IRSA” a cash consideration for the amount of U.S. Dollars one hundred fifty-nine thousand three hundred seventy-five (US$ 159,375) within forty-eight (48) hours from the granting of this deed of title, which TGLT may pay in Argentine pesos at the exchange rate published by the “Banco de la Nación Argentina” at the closing rate of the day prior to the payment to “IRSA”. […].

TGLT shall not transfer the Property to third parties, under any title, without the prior written approval of "IRSA". This restriction is based on the obligations and commitments for “TGLT" arising from this agreement, and the intuitu personae characteristic of this agreement that has been specially considered by "IRSA" for entering into this contract. As such, if "IRSA" eventually accepts the assignment of this agreement to third parties, "TGLT" (or , if applicable , any successor in the domain of the Property), must meet the following requirements: (i) the assignee shall prove to have solvency and good credit, as well as sufficient economic, financial, legal, commercial and technical capacity to fulfill the obligations under this contract, all to "IRSA"´s satisfaction, (ii) the assignee, together with the acquisition of the Property shall assume expressly and unconditionally all the obligations, charges and commitments set out in this contract [ ... ]

TGLT has the right to build Complementary storage Units as long as it is authorized by the competent authority. In that case, "TGLT" will have the additional obligation to the obligations set forth in paragraphs (i) and (ii) to transfer to "IRSA" also in consideration for the transfer of the property, a number of supplementary storage units, to be determined, equivalent to twenty one point ten percent (21.1%) of square meters of storage spaces of buildings that "TGLT" will build in the property. It is noted that the selection criteria of Complementary Units corresponding to Functional Storage Space Housing Units (apartments) shall keep a similar proportionality to the selection criteria of one used by "IRSA". According the above mentioned, such functional units Housing (apartments), Functional Units parking spaces and Complementary storage Units will integrate all the buildings that "TGLT" commits to construct and finish, at its sole expense, cost, risk and responsibility in the Property, subject to the Conditions of Sale of the Units, specification and General Technical Specifications that attached hereto Exhibit III. The Committed Units are detailed and identified in Exhibit IV. [ ... ] It is in any event expressly clarified and agreed that the transfer by "TGLT" to "IRSA" of Apartment Units together with the aforementioned cash consideration, will be the total consideration for this barter agreement. "IRSA" will not assume any contingency risk related with the construction or the transfer to “IRSA” of any such Apartment Units, or the deviations that the Apartment Units may have if compared to the committed Apartment Units.

TGLT accepts and assumes, exclusively as its sole expense, cost, risk and responsibility all the obligations related to and/or arising from the approval, construction, development (including drafts, plans, calculations and other technical documentation , as well as all contracts, bids, etc. ), termination, organization and/or marketing of the Apartment Units. Consequently, it is established that "TGLT" agrees to indemnify and hold harmless “IRSA", throughout the term of statutory limitation, against any claim, demand, action, penalty, loss, damage and/or injury "IRSA" might be subject to (including the authorities and/or assignees of "IRSA") by any related circumstances referred to and /or arising from the approval, construction, development, organization and/or marketing of the Apartment Units. [ ... ]