Westminster Property definition
Examples of Westminster Property in a sentence
The property description for the Westminster Property that is attached to the Agreement is hereby deleted in its entirety and the property description for the Westminster Property that is attached hereto is substituted therefor.
All references in the Agreement to Equity Industrial Simplex Drive, LLC as an owner of the Westminster Property are hereby deleted, and the TIC sellers are substituted therefor.
The correct owners of the Westminster Property are: Equity Industrial Westminster, LLC, and South Shore Development Associates, LLC, each a Delaware limited liability company, as tenants in common (collectively, the “TIC Sellers”).
Assignor hereby assigns, transfers, and conveys to Assignee all of Assignor’s right, title and interest in and to the Purchase Agreement related to the purchase of the Westminster Property.
Assignee hereby accepts the foregoing assignment and, effective as of the Effective Date, assumes and agrees to perform and be bound by all of the terms, covenants, and conditions prospectively to be observed or performed by “Purchaser” under or pursuant to the Purchase Agreement as related to the purchase of the Westminster Property.
The Buyer and Seller acknowledge that in the event payments are received by the Buyer after the Closing Date in connection with the Tax Abatements, such money shall, in the case of the Corsicana Property be delivered to the Seller, and if received in connection with the Westminster Property, such funds shall be remitted to the current tenant of the Westminster Property.
Assignor acknowledges and agrees that, notwithstanding the terms of this Assignment, Assignor shall remain liable to Sellers for any of the obligations under the Purchase Agreement relating to the Westminster Property.