Designated Properties. Notwithstanding anything contained in this Agreement to the contrary, the General Partner, acting as a fiduciary, shall use its reasonable best efforts and act in good faith to acquire, develop, lease and operate the Designated Properties (as defined in the Contribution Agreement) in a manner to maximize the Annualized NOI (as defined in the Contribution Agreement) for the Designated Properties. Nothing in Sections 7.1(h) or 7.1(i) shall require the General Partner to contribute additional capital to the Partnership.
Designated Properties. Designated Property ------------------- _______________________________________ _______________________________________ _______________________________________
Designated Properties. The term "Designated Properties" as used in the Agreement shall not include any properties which have been sold as permitted under the Agreement.
Designated Properties. As to each of the Designated Properties: (i) HRT or its Subsidiaries have good marketable title thereto and the legal right and authority to pledge the property under the terms and conditions provided herein, (ii) the property is not subject to any liens or encumbrances other than those permitted by Section 5.07, (iii) HRT and its Subsidiaries hereby reaffirm the representations and warranties regarding Environmental Matters provided in Section 4.06, and (iv) all property taxes and governmental fees and charges relating to the properties have been paid, other than those which are not yet delinquent or which are being contested in accordance with the provisions of Section 4.16.
Designated Properties. The Management Committee may, from time to time, designate certain mineral properties, including an area of interest around those certain mineral properties, excluding the Almaden Excluded Area, which are then held by the ExplorationJV (“Designated Property”). In such a case, none of the amount of actual or deemed Exploration Expenditures will be allocated to the Designated Property even if some exploration has been undertaken within the Designated Property. Upon the designation of a Designated Property:
Designated Properties. Description of Designated Property Permitted Sale Date --------------------------------------------------------- ------------------------------------------------- --------------------------------------------------------- ------------------------------------------------- --------------------------------------------------------- ------------------------------------------------- --------------------------------------------------------- ------------------------------------------------- --------------------------------------------------------- -------------------------------------------------
Designated Properties. 70 ARTICLE VI CONDITIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . 70 6.1 CONDITIONS TO EACH PARTY'S OBLIGATION TO EFFECT THE MERGERS . 70 6.2 CONDITIONS TO OBLIGATIONS OF PRIME AND PRIME PARTNERSHIP. . . 71 6.3 CONDITIONS TO OBLIGATIONS OF HORIZON AND HORIZON PARTNERSHIP. 73
Designated Properties. The parties hereto acknowledge that Horizon and Horizon Partnership may explore the sale of the Designated Properties prior to Closing in accordance with the provisions hereof, including without limitation Sections 1.18 and 4.1 hereof, and shall permit Prime and Prime Partnership and their financial and legal advisors to participate in such sale process; provided, however, that such agreements may provide at Horizon's election that such agreements are terminable by Horizon if this Agreement is terminated for any reason.
