Sale of a Property Sample Clauses

The 'Sale of a Property' clause defines the terms and conditions under which ownership of a property is transferred from the seller to the buyer. It typically outlines the purchase price, payment method, closing date, and any contingencies such as inspections or financing requirements. This clause ensures that both parties understand their obligations and the steps required to complete the transaction, thereby reducing the risk of disputes and providing a clear framework for the sale process.
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Sale of a Property. Borrower shall be permitted at any time after the Release Date, to release any one (1) of the Projects (a “Partial Release”) from the Lien of the respective Mortgage thereon upon a bona fide third-party sale of such property, and Lender shall take such actions as are necessary to effectuate, pursuant to this Section 2.4.2, the release of the Lien of the respective Mortgage thereon (and related Loan Documents), upon satisfaction of each of the following conditions to the reasonable satisfaction of the Lender: (i) Lender shall have received from the Borrower at least sixty (60) days prior written notice (a “Partial Release Notice”) of the date proposed for such Partial Release (the “Release Date”) together with a copy of the applicable contract of sale (or an executed term sheet which states all of the material terms of the sale (provided a fully executed contract substantively in the form of the term sheet, is delivered to Lender prior to the closing of such sale and Partial Release)) and all related documents, which Release Date shall be a Payment Date or, if not a Payment Date, Borrower shall pay interest on the Partial Release Amount through the next Payment Date on the Release Date; (ii) Lender shall have the right, exercisable within thirty (30) days after the date of its receipt of the Partial Release Notice, to require that Borrower defease the Note secured by the Lien of the Mortgage encumbering the proposed Release Project in accordance with the terms and conditions of Section 2.3.3, in lieu of having a Partial Release effectuated under this Section 2.4.2 if Lender has not exercised such option in writing within such 30-day period, it shall be assumed that the Borrower shall proceed with a Partial Release pursuant to the terms of this Section 2.4.2; (iii) Borrower shall remit to the Lender on the Release Date an amount equal to, as applicable, (i) the Partial Release Amount for the applicable Project (which amount shall be determined by Lender and disclosed to Borrower within thirty (30) days after the date of Lender’s receipt of the Partial Release Notice), or (ii) the Yield Maintenance Premium for the partial defeasance, as applicable, and any amounts due under Section 2.3; (iv) the sale of such Project is pursuant to an arms’ length agreement to a third party not Affiliated with the Borrower or Guarantor; (v) no sale of any Project shall be permitted on or before the Release Date; (vi) Borrower shall pay to the Lender all sums then due and payab...
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Sale of a Property. BY THE INSURED BEFORE END OF SETTLEMENT PERIOD
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Sale of a Property. 2.1 The Seller hereby sells to the Purchaser who hereby purchases from the Seller, Erf number SOMERSET WEST, being approximately square metres in the development (See Schedule “A”).
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Sale of a Property. Cooperation with Sales Broker. Manager agrees to cooperate with and assist Owner in any attempt(s) by Owner to sell or otherwise transfer any or all of its interest in the Property, or to obtain financing in connection with its ownership of the Property, without such cooperation giving rise to any claim by Manager for a commission or any other additional compensation. Such cooperation shall include, responses to reasonable requests by Owner, such as answering prospective purchasers' and lenders' questions about the Tenants, the Leases or any other matter involving the Property; preparing a list of all personal property used at the Property or in its operation; and notifying Tenants of any such transfer or financing. Manager shall cooperate with Owner in the preparation, distribution and receipt of tenant estoppels and subordination and non-disturbance agreements.
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Sale of a Property. In the event CCPS desires to sell or convey a Property, WEC will make no claim to prevent such sale. The sale shall be subject to the terms and conditions of this Agreement and any individual site agreements. Any transfer of ownership of, or rights in, any Property by CCPS shall be subject to this Agreement and any individual site agreement and such assignee shall assume the obligations hereunder. In the event that the CCPS is divided into one or more governing bodies and/or the Public School System is divided into multiple school districts then, the parties shall work together in good faith to amend this agreement (or create multiple identical agreements), dividing Properties and obligations based on such division.
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Sale of a Property. In the event WCBE desires to sell or convey a Property, APC will make no claim to prevent such sale. The sale shall be subject to the terms and conditions of this Agreement and any individual site agreements. Any transfer of ownership of, or rights in, any Property by WCBE shall be subject to this Agreement and any individual site agreement and such assignee shall assume the obligations hereunder.
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Sale of a Property 
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Related to Sale of a Property

  • Sale of the Property Any sale of the Property shall not affect this Lease or any of your obligations, but upon such sale we will be released from all of our obligations under this Lease and the new owner of the Property will be responsible for the performance of the duties of "Landlord" from and after the date of such sale.

  • Sale of Another Property Buyer’s performance under this Agreement: (check one)

  • SALE OF PROPERTY If the Premises is sold, the Tenant is to be notified of the new Owner, and if there is a new Manager, their contact details for repairs and maintenance shall be forwarded. If the Premises is conveyed to another party, the new owner: (check one)

  • Sale of Equipment During the period from the date of such notice given pursuant to Section 10.1 to the Termination Date, Lessee, as non-exclusive agent for Lessor and, except as provided in Section 10.3, at Lessee's sole cost and expense, shall use reasonable best efforts to obtain bids from Persons other than Lessee, the Manager or any of their respective Affiliates for the cash purchase of the Terminated Units, and Lessee shall promptly, and in any event at least five Business Days prior to the proposed date of sale, certify to Lessor in writing the amount and terms of each such bid, the proposed date of such sale and the name and address of the party submitting such bid. Unless Lessor shall have elected to retain the Terminated Units in accordance with Section 10.3, on the Termination Date: (i) Lessee shall deliver the Terminated Units (excluding any optional Severable Modifications removed by Lessee pursuant to Section 9.2) to the bidder (which shall not be Lessee or Manager or an Affiliate of Lessee or Manager (for the avoidance of doubt the bidder may be a Customer, or a customer of the Manager, and neither the Manager nor any Affiliate shall be prohibited from managing the Units for such bidder after the purchase by such bidder)) that shall have submitted the highest cash bid prior to such date (or to such other bidder as Lessee and Lessor shall agree) and (ii) subject to the prior or concurrent receipt (x) by Lessor of all amounts owing to Lessor pursuant to the next sentence and (y) by the Persons entitled thereto of all unpaid Supplemental Rent due on or before the Termination Date, Lessor shall, without recourse or warranty (except as to the absence of any Lessor's Lien) simultaneously therewith transfer all of its right, title and interest in and to the Terminated Units to such bidder. The net proceeds of sale realized at such sale shall be paid to Lessor and, in addition, on the Termination Date, Lessee shall pay to Lessor (A) all Basic Rent with respect to such Terminated Units due and payable prior to the Termination Date (exclusive of any Basic Rent with respect to the Terminated Units due on such date), (B) the excess, if any, of (1) the Termination Amount for the Terminated Units computed as of the Termination Date over (2) the net cash sales proceeds (after the deduction of all applicable sales, transfer or similar taxes) of the Terminated Units, (C) an amount equal to any unpaid Late Payment Interest in respect of any Rent in respect of the Terminated Units not paid when due (including, for the avoidance of doubt, Rent corresponding to the principal amount of the Equipment Notes to be prepaid in accordance with Section 2.10(a) of the Indenture) and (D) all other Rent in respect of the Terminated Units (exclusive of any Basic Rent on the Terminated Units due on such date) then due and payable hereunder (which shall include, without limitation, a portion of the Policy Provider Amounts and Policy Provider Reimbursement Costs, if any, equal to the product obtained by multiplying the unpaid Policy Provider Amounts and Policy Provider Reimbursement Costs by a fraction, the numerator of which shall be the Equipment Cost of the Terminated Units and the denominator of which shall be the aggregate Equipment Costs of all Units then subject to this Lease and Late Payment Interest related thereto), so that, after receipt and application of all such payments, but without withdrawal from any CAA Accounts other than the applicable Non-Shared Payments Account, (i) Lessor shall be entitled under the terms of the Collateral Agency Agreement to receive, and does receive, taking into account all payments of Basic Rent, in respect of all such Units, the sum of the portion of the Accumulated Equity Deficiency Amount allocable to the Terminated Units and Late Payment Interest related thereto and any other amounts then due to Lessor and (ii) the Policy Provider has received the portion of Policy Provider Amounts and Policy Provider Reimbursement Costs calculated above. If no sale shall have occurred, whether as a result of Lessee's failure to pay all of the amounts hereinabove required or otherwise, this Lease shall continue in full force and effect with respect to such Units and Lessee agrees to reimburse Lessor, Policy Provider and the Indenture Trustee for all reasonable costs and expenses (including reasonable legal fees and expenses) incurred by any thereof in connection therewith. Lessee, in acting as agent for Lessor, shall have no liability to Lessor for failure to obtain the best price, shall act in its sole discretion and shall be under no duty to solicit bids publicly or in any particular market. Owner Participant shall have the right, but not the obligation, to obtain bids either directly or through agents other than Lessee.

  • Purchase and Sale of Property Seller hereby agrees to sell, and Buyer hereby agrees to acquire, upon the terms and conditions herein stated, that certain portfolio of Properties listed on Schedule 1 attached hereto and more particularly described in Exhibits A-1 to A-16 attached hereto (individually and collectively, the “Real Property”), together with: (a) All buildings, improvements and other structures presently located on the Real Property (the “Improvements”), provided, however, that “Improvements” shall not include any fixtures or other improvements owned by “Tenants” (as hereinafter defined); (b) All personal property (excluding cash and software) owned by Seller, if any, located in or on, and used exclusively in connection with the operation of, the Real Property or the Improvements (the “Personal Property”); (c) Any and all of Seller’s right, title and interest in and to the leases, licenses and occupancy agreements covering all or any portion of the Real Property or Improvements (the “Leases”), including any guaranties thereof and any security deposits thereunder in Seller’s possession at “Closing” (as hereinafter defined); and (d) Any and all of Seller’s right, title and interest in and to any of the following existing at the Closing (the “Intangibles”): (i) subject to Paragraph 3(a)(v), all assignable contracts and agreements and utility contracts (the “Operating Agreements”) relating to the leasing, operation, maintenance or repair of the Real Property, Improvements or Personal Property; (ii) all assignable warranties and guaranties issued to Seller in connection with the Improvements or the Personal Property; (iii) all assignable permits, licenses, approvals and authorizations issued by any governmental authority in connection with the Real Property; (iv) all assignable drawings, plans, building permits, surveys and certificates of occupancy relating to the Real Property or the Personal Property, if any; and (v) all assignable trademarks, trade names and websites relating to the Real Property, if any. The Real Property, Improvements, Personal Property, Leases and Intangibles are collectively referred to hereinafter for a specific property as a “Property” and collectively as the “Properties”.