Land Sales. Lessee acknowledges that during the term of the Lease Weyerhaeuser may, without notice to Lessee, sell or convey to a third party all or part of the Leased Property. Xxxxxx agrees that in the event of such sale or conveyance the Lease shall immediately terminate unless Weyerhaeuser, at its option, elects to assign the Lease to the new owner of the Leased Property. Should Weyerhaeuser elect not to assign the Lease and it terminates pursuant to the provisions of this paragraph, Weyerhaeuser shall return to Lessee a prorated amount of the consideration paid. If Weyerhaeuser terminates this Lease pursuant to Subsections 26(a) or 26(b) above then the following refunds will apply:
Land Sales. 15.1 Subject to the following provisions of this Clause 15, the Developer shall not be permitted to dispose of any Plot (in whole or part) except by way of any or all of the following means:
15.1.1 the grant of an Investment Lease or an agreement to grant an Investment Lease;
15.1.2 the sale of 100% of the shares in a Group Company to whom an Investment Lease has been granted pursuant to Clause 15.7;
15.1.3 the sale of less than 100% of the shares in a Group Company to whom an Investment Lease has been granted pursuant to Clause 15.7, where the relevant company remains an Investment Vehicle; and
15.1.4 the sale of less than 100% of the shares in a Group Company to whom an Investment Lease has been granted pursuant to Clause 15.7, where the Developer retains a minority holding, such that the relevant company is not an Investment Vehicle;
15.2 The Developer shall be permitted to make a Disposal of any Plot (in whole or part) which comprises (either alone or in aggregate) up to 30 per cent of the total Site area (such Site measurement to exclude (a) the Plot allocated to the potential MUSCO Services facility or its alternative and (b) the area allocated towards a park or its alternative) PROVIDED ALWAYS that:
15.2.1 any such Disposals provide that the Buyer is contractually obliged to ensure that the first comprehensive development by the Buyer of such land (if carried out) is consistent with the Masterplan as at the date of the Disposal and does not prevent the Development Requirements from being met; and
15.2.2 the land area to be disposed of (either alone or in aggregate) pursuant to this Clause 15.2 shall not comprise an area more than 50% of the total land area of the relevant Phase (such Phase measurement for Heygate Phase to exclude (a) the Plot allocated to the potential MUSCO Services facility or its alternative and (b) the area allocated towards a park or its alternative).
15.3 Save where a Disposal is made in accordance with Clause 15.2, the Developer shall be permitted to make a Disposal of any Plot (in whole or part) on the following terms:
15.3.1 save for any Buyer set out in Clause 15.6,
15.3.2 the Developer shall ensure that the agreement for the Disposal shall require that if the Buyer commences the first comprehensive development on the land disposed of, then:
(i) the Buyer shall covenant to the Developer such first comprehensive development shall be in compliance with the terms of Clauses 40, 41.2, 42 and Schedule 2 (and in respect of any R...
Land Sales. Mission Bay Santa Fe Depot Gross land sales revenue Deposits applied toward closings Deposits received from buyers Closing costs Additional Closing Costs Net land sales revenue Infrastructure intrerest carry Mission Bay interim land NOI Mission Bay NOC bond proceeds & reimbursements Mission Bay SOC bond proceeds & reimbursements Mission Bay NOC Mission Bay SOC (including CFD pymts) SF Depot Property taxes Earnout Management fees Mission Bay CFD and G&A reimbursement Land Holding Costs/Lease Buyout Costs Xxxxx Land Revenues Back Out: ARE Earn-Out Net Land Sales for Release Payments Other MB Revenues for Release Payments Total For Release Release Available Release% before & after Westbluffs
Land Sales. Mission Bay Santa Fe Depot Gross land sales revenue Deposits applied toward closings Deposits received from buyers Closing costs Additional Closing Costs Net land sales revenue Infrastructure intrerest carry Mission Bay interim land NOI Mission Bay NOC bond proceeds & reimbursements Mission Bay SOC bond proceeds & reimbursements Mission Bay NOC Mission Bay SOC (including CFD pymts) SF Depot Property taxes Earnout Management fees Mission Bay CFD and G&A reimbursement Land Holding Costs/Lease Buyout Costs Xxxxx Land Revenues Back Out: ARE Earn-Out Net Land Sales for Release Payments Other MB Revenues for Release Payments Total For Release Release Available Release % before & after Westbluffs Mission Bay Santa Fe Depot Gross land sales revenue Deposits applied toward closings Deposits received from buyers Closing costs Additional Closing Costs Net land sales revenue Infrastructure intrerest carry Mission Bay interim land NOI Mission Bay NOC bond proceeds & reimbursements Mission Bay SOC bond proceeds & reimbursements Mission Bay NOC Mission Bay SOC (including CFD pymts) SF Depot Property taxes Earnout Management fees Mission Bay CFD and G&A reimbursement Land Holding Costs/Lease Buyout Costs Xxxxx Land Revenues Back Out: ARE Earn-Out Net Land Sales for Release Payments Other MB Revenues for Release Payments Total For Release Release Available Release % before & after Westbluffs Mission Bay Santa Fe Depot Gross land sales revenue Deposits applied toward closings Deposits received from buyers Closing costs Additional Closing Costs Net land sales revenue Infrastructure intrerest carry Mission Bay interim land NOI Mission Bay NOC bond proceeds & reimbursements Mission Bay SOC bond proceeds & reimbursements Mission Bay NOC Mission Bay SOC (including CFD pymts) SF Depot Property taxes Earnout Management fees Mission Bay CFD and G&A reimbursement Land Holding Costs/Lease Buyout Costs Xxxxx Land Revenues Back Out: ARE Earn-Out Net Land Sales for Release Payments Other MB Revenues for Release Payments Total For Release Release Available Release % before & after Westbluffs
Land Sales. 4.3.1 The Lessee shall during the term of this Lease co-operate with and take reasonable steps to assist the Lessor in the Lessor’s land sales with the objective of achieving an optimum return from such sales, consistent with the rights of the Lessee under this Lease or the Licence. In addition but subject to the Lessee’s consent, which shall not be unreasonably withheld or delayed, and to the requirements of the Lessee pursuant to Clause 4.3.2, the Lessee shall:
4.3.1.1 At the Lessor’s cost, permit the Lessor to continue to use all existing drains, waterways, easements and services pertaining to the land of the Lessor adjoining or neighbouring the Land and, where any of such land is sold or subdivided, to allow the benefit thereof to run with such land;
4.3.1.2 At the request and expense of the Lessor, and without consideration, grant to any purchaser or lessee from the Lessor, rights in relation to any of the matters referred to in Clause 4.3.1.1 on terms and conditions which the Lessor has customarily set when granting such rights;
4.3.1.3 At the request of the Lessor, negotiate in good faith with the Lessor with respect to any future easements, rights of way and other services reasonably required by the Lessor in connection with its land sales;
4.3.1.4 Permit the Lessor, its employees and agents access to the Land from time to time in accordance with procedures to be agreed between the Lessor and the Lessee, for the purposes of carrying out any surveys, installing pipes and other services and attending to the maintenance thereof and any other work or activity reasonably necessary to enable the Lessor to carry out its land sales.
4.3.2 In granting its consent pursuant to Clause 4.3.1 the Lessee may in its absolute discretion require that its reasonable costs of attending to the matters referred to in that Clause be reimbursed by the Lessor and may also in its absolute discretion impose on the Lessor or any purchaser or lessee from the Lessor reasonable conditions to ensure that the continuation of the Lessee’s use of the Land for Rail Purposes or retention of it for Future Rail Purposes is not interfered with unreasonably.
Land Sales. As of the Closing Date, the Land Sale Contracts are in full force and effect (although subject to the conditions precedent set forth therein) and, to the best knowledge of Borrower, there is no material impediment to the consummation of the transactions contemplated to occur thereunder.
Land Sales. Throughout the pursuit of the common goal of achieving approval, the option holder has been on the same side as the landowner trying to obtain consent to residential or other forms of use. However, once this is achieved the builder and the landowner start to pull in opposite directions. The landowner wants to sell at the highest possible price but can only sell to one party. The builder with whom he has agreed an option aims to buy at the lowest possible price. Eventually they may agree somewhere in the middle, or the whole matter could go to arbitration. This is costly and causes uncertainty. Invariably the landowner will not realise the full land value as the land sale is not tested in the open market. With the Bowbridge Land approach, once planning permission has been obtained we remain true partners with the landowner. We share a common interest in that we both wish to see the site sold for the highest possible figure. Our approach is particularly attractive to landowners who are obliged (as trustees or charities) to ensure assets are not undersold.
Land Sales. Lessee acknowledges that during the term of the Lease Weyerhaeuser may, without notice to Xxxxxx, sell or convey to a third party all or part of the Leased Property. Xxxxxx agrees that in the event of such sale or conveyance, the Lease shall immediately terminate unless Weyerhaeuser, at its option, elects to assign the Lease to the new owner of the Leased Property. Should Weyerhaeuser elect not to assign the Lease and it terminates pursuant to the provisions of this Paragraph, Weyerhaeuser shall return to Lessee a prorated amount of Annual Lease Fee.
Land Sales. (whether or not improved): Commissions are due at the time of sale on the condition of closing, and such disbursement shall be made through the title company.
Land Sales. Rubicon Realty is a part of the small pool of brokers specializing in commercial land sales, both improved and unimproved. Our clients benefit from our knowledge of the land development process and all the moving parts it involves.
