Acquisition Projects. The following provisions shall apply if the project covered by this Agreement includes funds for the acquisition of land or facilities:
Acquisition Projects. (a) Acquisition projects are intended to expand, assure, and maintain adequate OHV recreation access or opportunities, eliminate trespass, and provide appropriate buffers to sustain OHV opportunity.
Acquisition Projects. Notwithstanding anything contained in Section 9.10 hereof to the contrary, the Primary Limited Partners and/or their Affiliates shall not, during the period (the "Restricted Period") commencing on the date hereof and ending on the earlier of (i) January 26, 2004 and (ii) the Restrictions Lapse Date (as defined below), acquire an equity ownership interest in any Acquisition Project other than through their ownership interest in the Partnership and the Trust; provided, however, that with respect to Xxxxx Xxxxxxxx such restriction shall only apply to Acquisition Projects which involve (x) Shopping Centers located within five (5) miles of Shopping Center owned or managed by the Partnership or any Affiliate of the Partnership or (y) malls located within ten (10) miles of a mall owned or managed by the Partnership or any Affiliate of the Partnership. During the Restricted Period, the Primary Limited Partners may, in their sole discretion, notify the General Partner of any opportunities available to the Partnership to acquire any equity ownership interest in an Acquisition Project to the extent such Primary Limited Partners believe such opportunities may be appropriate for consideration by the Partnership. Notwithstanding the preceding sentence, the Primary Limited Partners and/or their Affiliates may not acquire an equity ownership interest in any Acquisition Project during the Restricted Period other than through their ownership interests in the Partnership or the Trust except that Xxxxx Xxxxxxxx may acquire an equity ownership interest in an Acquisition Project (a) if permitted pursuant to the first sentence of this Section 9.11 or (b) if the Partnership declines an opportunity presented to it by Xxxxx Xxxxxxxx to acquire such equity ownership interest in such Acquisition Project.
Acquisition Projects. Notwithstanding anything contained in Section 10.4 hereof to the contrary, each Limited Partner and/or its Controlled Entities shall not, during the Restricted Period, acquire, directly or indirectly, a Controlling or general partner interest in any Acquisition Project other than through their ownership interest in the Partnership or the Existing Property Manager (or such other Entity established by the General Partner in which the Partnership holds an ownership interest in a manner similar to the ownership interest that it holds in the Existing Property Manager), without the prior written consent of the General Partner, which consent shall not be unreasonably withheld so long as (i) such Acquisition Project will not be competitive with any Property, (ii) such Acquisition Project will not require any substantial time commitment from any Limited Partner or a material time commitment of the Limited Partners in the aggregate, and (iii) the Limited Partner has first notified the General Partner of the opportunity to acquire an equity ownership interest in such Acquisition Project and the General Partner has informed the Limited Partner that the Partnership does not desire to acquire such interest.
Acquisition Projects. Notwithstanding anything contained in Section 10.4 hereof to the contrary, Xxxxx X. Xxxxxxxx shall not, during the Restricted Period, acquire, directly or indirectly, a Controlling general partner interest or a 25% or greater equity interest in any Acquisition Project other than through his ownership interest in the Partnership or the General Partner without the prior written consent of the Independent Directors (as defined in the Prospectus), which consent shall not be unreasonably withheld so long as (i) such Acquisition Project will not be competitive with any Property, (ii) such Acquisition Project will not require any substantial time commitment from any Limited Partner or a material time commitment of the Limited Partners in the aggregate, and (iii) Xxxxx X. Xxxxxxxx has first notified the General Partner of the opportunity to acquire an equity ownership interest in such Acquisition Project and the General Partner has informed such Limited Partner that the Partnership does not desire to acquire such interest.
Acquisition Projects. 36 (a) Acquisition projects are intended to expand, or assure, and maintain adequate OHV 37 recreation access or opportunities, and eliminate trespass, and provide appropriate buffers to 38 sustain OHV opportunity. 39 (b) Acquisition projects may include any of the following: 40 (1) Purchase of right-of-way or easement. 41 (2) Purchase of long-term lease. 42 (3) Purchase of land in fee title.
