Common use of Delivery of Property Package Clause in Contracts

Delivery of Property Package. If a Property Package is delivered and Propco, after reviewing the Property Package, still wishes to exercise the Call Right but Propco either (1) disagrees with Owner’s computation of the Purchase Price or the Property Lease Rent or (2) has comments or revisions to the draft Property Lease or Sale Agreement or to any other terms of the transaction (including requiring additional documentation) that are commercially reasonable, Propco shall notify Owner thereof within twenty (20) days of Propco’s receipt of the Property Package. In such event, Owner and Propco shall negotiate in good faith up to a period of sixty (60) days in an effort to reconcile the applicable issue. If Owner and Propco are unable to resolve the subject dispute, the matter shall be resolved pursuant to arbitration in accordance with the procedures set forth in Section 3 hereof.

Delivery of Property Package. If a Property Package is delivered and Propco, after reviewing the Property Package, still wishes to exercise the Call Right but Propco either (1) disagrees with Owner’s computation of the Purchase Price or the Property Lease Rent or (2) has comments or revisions to the draft Property Lease or Sale and Assignment Agreement or to any other terms of the transaction (including requiring additional documentation) that are commercially reasonable, Propco shall notify Owner thereof within twenty (20) days of Propco’s receipt of the Property Package. In such event, Owner and Propco shall negotiate in good faith up to a period of sixty (60) days in an effort to reconcile the applicable issue. If Owner and Propco are unable to resolve the subject dispute, the matter shall be resolved pursuant to arbitration in accordance with the procedures set forth in Section 3 hereof.