TIC Interest definition
Examples of TIC Interest in a sentence
The Parties acknowledge that, to the extent required, the consent of the holder of the Existing Loan to the Redemption and the transfer of the TIC Interest has been obtained by the Company.
Assignee hereby accepts the assignment of the Lease TIC Interest and the Security Deposits subject to the terms and conditions hereof, and from and after the date hereof, Assignee hereby assumes and shall be jointly and severally liable with Assignor in accordance with the terms of that certain Tenancy In Common Agreement between the parties of even date herewith for those obligations imposed on the lessor or landlord under the Lease, which obligations first arise or accrue after the date hereof.
The TIC Interest of Wilstein ( the "Contribution Interest") shall be contributed to the capital of Acquirer subject to Wilstein's Percentage Interest of the Remaining Pay-Off Amount of the Existing Loan (it being understood and agreed that Acquirer shall replace after Closing the Existing Loan with the New Loan in an amount at least equal to $60,000,000 and containing terms and provisions no more materially onerous than the Existing Loan).
Other than Raw Water Credits subject to the Put Option and Call Option as set forth in Article 11 (Put and Call Option), Greeley shall not be required to issue any additional Raw Water Credits (other than transfers of outstanding Raw Water Credits in the Registry) in exchange for a transfer of Wingfoot’s TIC Interest pursuant to this Section 9.2.B.
Seller desires to sell the TIC Interest to Purchaser, and Purchaser desires to acquire the TIC Interest from Seller.
In January 2022, we refinanced all but four of our properties (including the TIC Interest) with proceeds from our Credit Facility which includes floating rates based on SOFR and our leverage ratio as described above.
There shall have not occurred between the date hereof and the Closing Date any material adverse change in any of the condition, results of operation or prospects of the TIC Interest.
Notwithstanding the provisions of this Section 6(a), BRGF makes no representation or warranty to the Company or any other person relating to the Company's right to cause the transfer of the TIC Interest in redemption of the Redeemed Interest without the prior consent of any lender holding a security interest in the Property (including the holder of the Existing Loan) or the other Members' limited liability company interests.
Forest City agrees to (a) enter into a nonrecourse promissory note in that amount and secured by its TIC Interest, and to execute any collateral agreements or documents that are reasonably necessary or customarily appropriate in connection with such portion of the New Loan in form and substance reasonably acceptable to Forest City and (b) enter into that certain Tenancy In Common Agreement in the form of Exhibit "M" attached hereto and made a part hereof.
Seller does not own any interest in the Property other than through the TIC Interest.