Commercial Lots in Parcel C Sample Clauses

Commercial Lots in Parcel C. Following the issuance of a Certificate of Completion for all of the Infrastructure required for a Sub-Phase containing Commercial Lots in Parcel C, Developer shall use good faith efforts to promptly sell such Commercial Lots on commercially reasonable terms Approved by Developer. If Developer is unable to sell any such Commercial Lots to a Vertical Developer within eighteen (18) months following the issuance of such Certificate of Completion, then Developer shall notify the Agency of such inability and thereafter (i) Developer shall use commercially reasonable efforts to promptly negotiate and close the sale of any such unsold Commercial Lots to any Qualified Buyer on commercially reasonable terms Approved by Developer, (ii) the Agency Director shall have the right, but not the obligation, to establish a minimum purchase for any such unsold Commercial Lots equal to or greater than seventy five percent (75%) of the applicable Commercial Lot Purchase Price, which price shall be applicable to any purchaser proposed by the Agency, (iii) the Agency shall use good faith efforts to identify potential purchasers of the unsold Commercial Lot and
Sample 1
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Commercial Lots in Parcel C. Following the issuance of a Certificate of Completion for all of the Infrastructure required for a Sub-Phase containing Commercial Lots in Parcel C, Developer shall use good faith efforts to promptly sell such Commercial Lots on commercially reasonable terms Approved by Developer. If Developer is unable to sell any such Commercial Lots to a Vertical Developer within eighteen (18) months following the issuance of such Certificate of Completion, then Developer shall notify the Agency of such inability and thereafter (i) Developer shall use commercially reasonable efforts to promptly negotiate and close the sale of any such unsold Commercial Lots to any Qualified Buyer on commercially reasonable terms Approved by Developer, (ii) the Agency Director shall have the right, but not the obligation, to establish a minimum purchase for any such unsold Commercial Lots equal to or greater than seventy five percent (75%) of the applicable Commercial Lot Purchase Price, which price shall be applicable to any purchaser proposed by the Agency, (iii) the Agency shall use good faith efforts to identify potential purchasers of the unsold Commercial Lot and (iv) Developer shall keep the Agency Director reasonably informed of its marketing efforts and notify the Agency Director of any and all purchase offers it receives for the unsold Commercial Lots that are equal to or greater than seventy five percent (75%) of the applicable Commercial Lot Purchase Price. If the Agency Director establishes a minimum purchase price as set forth above (which minimum purchase price need not be publicly disclosed), it shall not be reasonable for Developer to reject any offer from a Qualified Buyer at or above that minimum purchase price unless it contains other commercially unreasonable conditions or requirements. Either Party shall have the right to request an update to Exhibit EE to reflect then current market conditions, which update shall be subject to the Approval of both Developer and the Agency Director.
Sample 1

Related to Commercial Lots in Parcel C

  • Real Estate All real property at any time owned or leased (as lessee or sublessee) by the Borrower or any of its Subsidiaries.

  • Condominiums If the Mortgaged Property is a condominium unit or a planned unit development (other than a de minimis planned unit development), or stock in a cooperative housing corporation, such condominium, cooperative or planned unit development project meets the eligibility requirements of Fxxxxx Mxx and Fxxxxxx Mac.

  • Owned Real Estate Neither the Company nor any of its Subsidiaries own any real property.

  • Condominiums/Planned Unit Developments If the Mortgaged Property is a condominium unit or a planned unit development (other than a de minimis planned unit development) such condominium or planned unit development project such Mortgage Loan was originated in accordance with, and the Mortgaged Property meets the guidelines set forth in the Originator's Underwriting Guidelines;

  • Real Estate Leases All leases, subleases, licenses, concessions, options, and other agreements relating to the occupancy of the Leased Real Property, including the right to all security deposits and other amounts and instruments deposited thereunder, are listed on Schedule 4.8.2 (collectively, the “Real Estate Leases”), and Seller has provided Buyer with a copy of such Real Estate Leases. Except as set forth in Schedule 4.8.2: (i) the Real Estate Leases have not been modified, amended, or assigned, are legally valid, binding and enforceable in accordance with their respective terms, and are in full force and effect; and (ii) to Seller’s knowledge, there are no material defaults (or matters that upon written notice or lapse of time would constitute material defaults) by Seller or by any other party to the Real Estate Leases.

  • No Light, Air or View Easement Any diminution or shutting off of light, air or view by any structure which may be erected on lands adjacent to or in the vicinity of the Building shall in no way affect this Lease or impose any liability on Landlord.

  • Communications Relating to Portfolio Securities Subject to the provisions of Section 2.3, the Custodian shall transmit promptly to the Fund for each Portfolio all written information (including, without limitation, pendency of calls and maturities of domestic securities and expirations of rights in connection therewith and notices of exercise of call and put options written by the Fund on behalf of the Portfolio and the maturity of futures contracts purchased or sold by the Portfolio) received by the Custodian from issuers of the securities being held for the Portfolio. With respect to tender or exchange offers, the Custodian shall transmit promptly to the Portfolio all written information received by the Custodian from issuers of the securities whose tender or exchange is sought and from the party (or his agents) making the tender or exchange offer. If the Portfolio desires to take action with respect to any tender offer, exchange offer or any other similar transaction, the Portfolio shall notify the Custodian at least three business days prior to the date on which the Custodian is to take such action.

  • Investment Related Property Each Grantor recognizes that, by reason of certain prohibitions contained in the Securities Act and applicable state securities laws, the Collateral Agent may be compelled, with respect to any sale of all or any part of the Investment Related Property conducted without prior registration or qualification of such Investment Related Property under the Securities Act and/or such state securities laws, to limit purchasers to those who will agree, among other things, to acquire the Investment Related Property for their own account, for investment and not with a view to the distribution or resale thereof. Each Grantor acknowledges that any such private sale may be at prices and on terms less favorable than those obtainable through a public sale without such restrictions (including a public offering made pursuant to a registration statement under the Securities Act) and, notwithstanding such circumstances, each Grantor agrees that any such private sale shall be deemed to have been made in a commercially reasonable manner and that the Collateral Agent shall have no obligation to engage in public sales and no obligation to delay the sale of any Investment Related Property for the period of time necessary to permit the issuer thereof to register it for a form of public sale requiring registration under the Securities Act or under applicable state securities laws, even if such issuer would, or should, agree to so register it. If the Collateral Agent determines to exercise its right to sell any or all of the Investment Related Property, upon written request, each Grantor shall and shall cause each issuer of any Pledged Stock to be sold hereunder, each partnership and each limited liability company from time to time to furnish to the Collateral Agent all such information as the Collateral Agent may request in order to determine the number and nature of interest, shares or other instruments included in the Investment Related Property which may be sold by the Collateral Agent in exempt transactions under the Securities Act and the rules and regulations of the Securities and Exchange Commission thereunder, as the same are from time to time in effect.

  • Title to Properties; Licenses Each Restricted Person has good and defensible title to or valid leasehold interests in all of its material properties and assets, free and clear of all Liens other than Permitted Liens and of all impediments to the use of such properties and assets in such Restricted Person’s business. Each Restricted Person possesses all licenses, permits, franchises, patents, copyrights, trademarks and trade names, and other intellectual property (or otherwise possesses the right to use such intellectual property without violation of the rights of any other Person) which are necessary to carry out its business as presently conducted and as presently proposed to be conducted hereafter, and no Restricted Person is in violation in any material respect of the terms under which it possesses such intellectual property or the right to use such intellectual property unless, in each case, such failure to possess or violation has not had, and could not reasonably be expected to have, a Material Adverse Effect.

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