Common use of Acquisition Reports Clause in Contracts

Acquisition Reports. Until the proceeds of the Offering available for investment have been invested or committed for investment, Proinvest shall prepare and send to the Owner for transmittal to the Members a quarterly report of any Asset acquisitions within the prior quarter. Such report shall contain the following information (i) a description of the geographic location of the Asset acquired within such quarter; (ii) a statement of the Contract Purchase Price including terms of the purchase; (iii) the present or proposed use of such Asset; (vi) the terms of any material lease affecting such Asset; (v) a description of the proposed method of financing, including estimated down payment and leverage ratio; and (vi) if known to Proinvest, a statement regarding the amount of then received proceeds of the Offering (in both dollar amount and as a percentage of the total net proceeds of the Offering anticipated to be available for investment in Assets) which remain unexpended or uncommitted. Such quarterly report shall be provided by Proinvest to the Owner within fifteen (15) days after the end of each calendar quarter.