Specific Property definition
Examples of Specific Property in a sentence
Specific Property Description: The Property includes, but is not limited by, the following (if required, provide real estate description): ALL ACCOUNTS RECEIVABLE, EQUIPMENT, & GENERAL INTANGIBLES ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇ This financing statement covers the above collateral, whether now owned or hereafter acquired, together with all supporting obligations, proceeds, products software, accessories and ascensions, including but not limited to the items listed.
The Specific Property Purchase Price shall be paid in all cash at Closing with respect to each Property.
Suite ______, consisting of a total of ____________ rentable square feet (as set forth in the Lease) (the “Premises”), located in the building having an address of [NTD: Insert Street Address of Specific Property].
Notwithstanding anything herein to the contrary, Purchaser and Seller acknowledge and agree that title to the Specific Property located in Carrollton, Texas (the "Carrollton Property") shall not be transferred to Purchaser at the Closing, but that $500,000 of the Purchase Price shall not be disbursed to Seller and shall be held in an escrow (the "Carrollton Escrow") with the Title Company pursuant to escrow instructions mutually acceptable to Seller and Purchaser.
With respect to the purchase of each individual Property, LTC West shall pay Regent the Specific Property Purchase Price in the table set forth above.
The Closing with respect to each Property shall be deemed to have occurred upon recordation of the Warranty Deed conveying the Property to LTC, payment of the Specific Property Purchase Price and the Stabilization Period Losses (to the extent then ascertainable) with respect thereto, and full execution and delivery of the lease between LTC and ALC with respect thereto.
It has no Knowledge or any violation of any requirement or condition to such zoning classification or land use plan which is applicable to all or any portion of any Specific Property.
Further, Schedule 3.02(a)-2 attached hereto sets forth an allocation of the Real Estate Purchase Price to each Specific Property.
As used herein, the term “Major Casualty” means any damage or destruction to any Specific Property that is reasonably expected to (A) cost in excess of $2,000,000.00 to repair, or (B) require more than one hundred eighty (180) days, measured from the date of the casualty, to repair and restore fully, in each such case as reasonably estimated by a reputable general contractor selected by Buyer and approved by Seller.
In the event Purchaser fails to give a written notice to Seller of such objections within the 7 day period, Purchaser shall be deemed to have waived any objections to title and to have accepted the condition of title as reflected by the Title Commitments and Surveys for each Specific Property.