Property Sale Sample Clauses

Property Sale. In the event that parcels of the AFRH-W are sold or otherwise have title transferred to non- Federal entities, AFRH shall ensure that adequate conditions are included in the sales instrument to ensure that any eventual development activities are respectful of the historic (built, natural, and designed landscape) and cultural (archaeological) resources on AFRH-W. These covenants shall be developed as part of the Section 106 consultation required as part of the sale action and shall be consistent with the intent of Section 106 for the protection of historic property.
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Property Sale. If the Developer sells the Project to an unrelated third party during the first 6 years of the term of this Agreement, the Developer agrees to provide to the Consultant certified cost (if sold before stabilization, but not necessary if after the lookback is performed under Section 3.9 as those costs will have been certified to the Consultant) and revenue information (inclusive of the annual tax increment payments for that year) related to the Project and expenses for the year in which the sale takes place. If the sale takes place prior to year-end, current revenue and expenses shall be provided and will be utilized for purposes of projecting forward to determine total expenses for that year. If the sale is prior to stabilization, revenue and expense assumptions will include revenue and expenses to date which will then be utilized to project revenue and expenses as if the project were stabilized. The expense and revenue information will be prepared in accordance with generally accepted accounting principles. If the Consultant determines, based on such review, that the COC as calculated in Exhibit E exceeds 6.0% in any given year, then 50% of the excess amount of such net operating income over the 6.0% COC in that year will be applied to reduce the amount payable under the TIF Note and the principal amount of the TIF Note will be reduced accordingly. Such reduction will be effective upon delivery to Developer of a written notice stating the amount of such excess profit as determined by the EDA in accordance with this Section, accompanied by the Consultant's report.
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Property Sale. The full sale of the Property shall require Super Majority Approval. In this event, the Property Manager will arrange with a registered local real estate agent for a valuation to be provided, and for the Property to be listed for sale. The Property shall be sold at or above the valuation provided, or at a lower value only upon Super Majority Approval. All Owners shall first be offered the opportunity to purchase the entire Property at the valuation provided before it is opened to the market. Owners will be responsible for any resl estate agent sales fees, stamp duties, Property Manager fees applicable in the sales process.
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Property Sale. 13 4.4 Audit............................................................................ 13 4.5 Certain Payables and Receivables................................................. 13 4.6 Pre-Closing Covenants and Agreements............................................. 13 4.7 Confidentiality.................................................................. 13 4.8 Tax-Free Reorganization.......................................................... 13 4.9
Sample 1
Property Sale. On, prior to or within 30 days after the Closing Date, ------------- Xxxxx X. Xxxxxxx will purchase from the Company (or the Surviving Corporation, as the case may be) and the Company (or the Surviving Corporation, as the case may be) shall sell to Xxxxx X. Xxxxxxx the land and buildings listed on Exhibit 4.3 attached hereto for the cash amount equal to the fair market value of such land and buildings as set forth on Exhibit 4.3, pursuant to conveyance instruments in form reasonably satisfactory to the Parent (the "Property Sale"). -------------
Sample 1
Property Sale. This Contract can terminate upon negotiation of a sale of the Property listed as long as it is not known, actual or implied, to the acquirer of the new Property. Any existing Earned Revenue Share will remain in effect and governed by this Contract. [Space below is intentionally left blank.] Initials This Contract shall become effective as of the latest of the two dates set forth below and is hereby agreed to and acknowledged by: Engineered Technology Services, Inc. Authorized Signature Print Name and Title Date Authorized Signature Print Name and Title Date Email Email Street City, State Zip Page 5 of 6 Version 12032020 InitialsInitials Initials Exhibit A Property(ies) Legal Name of Property Executive Signer for each Property Properties Under Each Legal Entity
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Related to Property Sale

  • Foreclosure Property Notwithstanding any other provision of this Agreement, the Servicer, shall not rent, lease, or otherwise earn income on behalf of the REMIC with respect to any REO which might cause such REO to fail to qualify as "foreclosure" property within the meaning of section 860G(a)(8) of the Code (e.g., rent based upon the earnings of the lessee) or result in the receipt by the REMIC of any "income from non-permitted assets" within the meaning of section 860F(a)(2) of the Code (e.g., income attributable to any asset which is not a qualified mortgage, a cash flow or reserve fund investment, or personal property not incidental to the REO) or any "net income from foreclosure property" which is subject to tax under the REMIC Provisions unless the Master Servicer has received an Opinion of Counsel (at the Servicer's expense) to the effect that, under the REMIC Provisions and (where appropriate, any relevant proposed legislation) any income generated for the REMIC by the REO would not result in the imposition of a tax upon the REMIC. In general, the purpose of this Section 3.2 and the REMIC Provisions (which this section is intended to implement) is to ensure that the income earned by the REMIC is passive type income such as interest on mortgages and passive type rental income on real property.

  • Property or Properties As the context requires, any, or all, respectively, of the Real Property acquired by the Company, either directly or indirectly (whether through joint venture arrangements or other partnership or investment interests).

  • Contributed Property Notwithstanding any other provision of this Agreement, the Members shall cause depreciation and or cost recovery deductions and gain or loss attributable to Property contributed by a Member or revalued by the Company to be allocated among the Members for income tax purposes in accordance with Section 704(c) of the Code and the Treasury Regulations promulgated thereunder.

  • Real Property Interests Except for leasehold interests disclosed on Schedule 3.20, and except for the ownership or other interests set forth on Schedule 3.20, no Credit Party has, as of the Closing Date, any ownership, leasehold or other interest in real property. Schedule 3.20 sets forth, with respect to each parcel of real estate owned by any Credit Party as of the Closing Date, the address and legal description of such parcel.

  • Contributed Assets In accordance with Section 704(c) of the Code, income, gain, loss and deduction with respect to any property contributed to the Company with an adjusted basis for federal income tax purposes different from the initial Asset Value at which such property was accepted by the Company shall, solely for tax purposes, be allocated among the Members so as to take into account such difference in the manner required by Section 704(c) of the Code and the applicable Regulations.

  • Sale or Lease of Assets Within any period of four consecutive fiscal quarters, the Borrower will not, nor will it permit any Subsidiary to, convey, sell, lease, transfer or otherwise dispose of assets, business or operations with a net book value in excess of 25% of Total Assets as calculated as of the end of the most recent such fiscal quarter.

  • Leasehold Estate Each Mortgaged Property consists of a fee simple estate in real estate or, if the related Mortgage Loan is secured in whole or in part by the interest of a Mortgagor as a lessee under a ground lease of a Mortgaged Property (a "Ground Lease"), by the related Mortgagor's interest in the Ground Lease but not by the related fee interest in such Mortgaged Property (the "Fee Interest"), and as to such Ground Leases:

  • Leasehold Properties In relation to those Properties which are leasehold:

  • Leasehold Financing Notwithstanding anything to the contrary contained in the Lease, Tenant shall have the right, without Landlord’s consent to encumber the leasehold estate created under the Lease and/or to grant a security interest in Tenant’s removable trade fixtures, furnishings and equipment located within the Leased Premises (but not to encumber Landlord’s fee interest in the Premises), to secure financing provided to Tenant by any bank, thrift institution, insurance company or other institutional lender. Tenant agrees to notify Landlord of any such encumbrance. With respect to any such leasehold financing (and provided that Tenant is not in default under the Lease beyond any applicable notice or cure period), upon thirty (30) days’ prior written request from Tenant, Landlord will execute and deliver to the secured lender a “Landlord’s Agreement” in the form attached hereto as Exhibit “A-1”.

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