Contributions to CT Legacy REIT Mezz Borrower Clause Samples
Contributions to CT Legacy REIT Mezz Borrower. (a) Subject to Section 2, Five Mile Lender hereby agrees to enter into the Mezzanine Loan Agreement and fund $83,000,000.00 million in cash to CT Legacy REIT Mezz Borrower, and CT Legacy REIT Mezz Borrower accepts such agreement. In exchange for entering into the Mezzanine Loan Agreement, CT Legacy REIT Mezz Borrower hereby issues to Five Mile Lender the related mezzanine loan promissory note, dated as of the date hereof (the “Promissory Note”), and to Five Mile Shareholder 2,415,625 shares of its Class A-2 Common Stock.
Contributions to CT Legacy REIT Mezz Borrower. Subject to Section 2, CT hereby contributes to CT Legacy REIT Mezz Borrower all right, title and interest in and to the Legacy Assets, and CT Legacy REIT Mezz Borrower accepts the contributed Legacy Assets. In exchange for the contribution of the Legacy Assets, CT Legacy REIT Mezz Borrower hereby agrees to pay $30,000,000.00 in cash and to issue to CT Legacy Holdings 4,393,750 shares of its Class A-1 Common Stock, 3,190,625 shares of its Class A-2 Common Stock and 1,464,582 shares of its Class B Common Stock, and to issue to CT 100 shares of its Class A Preferred Stock.