Option Process. To exercise Lessee’s option to purchase Lessee must timely complete and return the attached sales contract on Exhibit C and return 3 signed originals to Lessor. The sale shall be according to the terms and conditions contained in said Sales Contract.
Option Process. (i) If the Advisor Sub elects to exercise the Option, the General Partner and the Advisor Sub shall jointly request the BCIMC Limited Partner’s consent to amend the Partnership Agreement to:
(A) divide the role of General Partner into two roles consisting of the “Managing General Partner” and the “Administrative General Partner”;
(B) make the General Partner the “Managing General Partner”;
(C) make the Advisor Sub the “Administrative General Partner”;
(D) provide that the General Partner, as the “Managing General Partner”, shall continue to have all of the rights and obligations attributed to the General Partner in the Partnership Agreement in effect as of the date of this Agreement, subject to Section 18(c)(i)(E); and
(E) provide that (1) the “Administrative General Partner” shall be obligated to provide the Services and shall be paid the Assigned Fees for providing the Services and (2) the “Administrative General Partner” shall have no rights to manage or control the Partnership and, except as set forth in this Section 18(c)(i)(E), the “Administrative General Partner” shall not have any other rights under the Partnership Agreement (except in its capacity as the Special Limited Partner (as defined in the Partnership Agreement) as the holder of its Interest (as defined in the Partnership Agreement)).
Option Process. (i) If the Advisor Sub elects to exercise the Option, the General Partner and the Advisor Sub shall jointly notify the QuadReal Limited Partner in writing that pursuant to Section 6.3(a) of the Partnership Agreement, the General Partner and the Advisor Sub have agreed to:
(A) divide the role of General Partner into two roles consisting of the “Managing General Partner” and the “Administrative General Partner”;
(B) make the General Partner the “Managing General Partner”;
(C) make the Advisor Sub the “Administrative General Partner”;
(D) provide that the General Partner, as the “Managing General Partner”, shall continue to have all of the rights and obligations attributed to the General Partner in the Partnership Agreement in effect as of the date of this Agreement, subject to Sections 17(c)(i)(E) and 17(c)(i)(F);
(E) provide that the General Partner, as the “Managing General Partner” and the Advisor Sub, as the “Administrative General Partner” shall jointly, and not individually, propose any Major Decisions set forth in Section 6.2 of the Partnership Agreement to the Executive Committee; and
(F) provide that (1) the “Administrative General Partner” shall be obligated to provide the Services and shall be paid the Assigned Fees for providing the Services and (2) except as provided in Section 17(c)(i)(E) and this Section 17(c)(i)(F), the “Administrative General Partner” shall have no rights to manage or control the Partnership and the “Administrative General Partner” shall not have any other rights under the Partnership Agreement except as the holder of any Interest (as defined in the Partnership Agreement), if applicable.
Option Process. To exercise Lessee’s option to purchase Lessee must timely complete and return the attached sales contract on Exhibit “C” and return 3 signed originals to Lessor. The sale shall be according to the terms and conditions contained in said Resale Contract. Name: Xxxxxxx X. Xxxxxxxxx Title: Manager (Signature of Lessee) (Signature of additional Lessee) (Printed Name of Lessee) (Printed Name of additional Lessee) Address: Date: STATE OF TEXAS § COUNTY OF § This Memorandum of Lease (“Memorandum”) is entered into by and between XXXXXXXXX XXXXXXXXXX PARTNERS I, LLC., a Texas limited liability company (“Lessor”) and
Option Process. (i) If the Advisor elects to exercise the Option, the General Partner and the Advisor shall jointly request the BCIMC Limited Partner’s consent to transfer fifty percent (50%) of the General Partner Interest to the Advisor and amend the Partnership Agreement to:
(A) divide the role of General Partner into two roles consisting of the Managing General Partner and the Administrative General Partner;
(B) make the General Partner the Managing General Partner;
(C) admit the Advisor to the Partnership as the Administrative General Partner;
(D) provide that the General Partner, as the Managing General Partner, shall continue to have all of the rights and obligations attributed to the General Partner in the Partnership Agreement in effect as of the date of this Agreement, subject to Section 18(c)(i)(E); and
(E) provide that (1) the Administrative General Partner shall be obligated to provide the Services and shall be paid the Assigned Fees for providing the Services, (2) a portion of the GP Promote equal to the Shared Portion shall be paid to the Administrative General Partner and the balance of the GP Promote shall be paid to the Managing General Partner, and (3) the Administrative General Partner shall have no rights to manage or control the Partnership and, except as set forth in this Section 18(c)(i)(E), the Administrative General Partner shall not have any other rights under the Partnership Agreement.
Option Process. To exercise Lessee’s option to purchase Lessee must timely complete and return the attached sales contract on Exhibit C and return 3 signed originals to Lessor. The sale shall be according to the terms and conditions contained in said Sales Contract. Liability Company, GENERAL PARTNER Name: Xxxxxxx X. Xxxxxxxxx Title: Manager (Signature of Lessee) (Signature of additional Lessee) (Printed Name of Lessee) (Printed Name of additional Lessee) Address: Date: AREA: TRACT: LOT: COUNTY OF § This Memorandum of Lease (“Memorandum”) is entered into by and between XXXXXXXXX PK2 LAND PARTNERSHIP, LTD, a Texas limited partnership (“Lessor”) and (“Lessee”).
Option Process. To exercise Lessee’s option to purchase Lessee must timely complete and return the attached sales contract on Exhibit and return 3 signed originals to Lessor. The sale shall be according to the terms and conditions contained in said Sales Contract. limited partnership By: Name: Title: Date: Printed Name: Date: For the period beginning on the Effective Date and ending December 31, (the prorated period), Lessee agrees to pay to Lessor as prorated Annual Rent the sum of $ , which shall be payable on the Execution Date. For the period beginning on January 1, 20 and ending December 31, 20 , Lessee agrees to pay to Lessor as Annual Rent equal to 6% of the land only assessed value without any exemptions (as determined by the appraisal district) for the year 2008, with annual Consumer Price Index increases or decreases which shall be payable annually in advance on or before January 1 of each calendar year.
Option Process. To exercise Lessee’s option to purchase Lessee must timely complete and return the attached sales contract on Exhibit “F” and return 3 signed originals to Lessor. The sale shall be according to the terms and conditions contained in said Sales Contract. Texas limited partnership By: Name: Title: Date: Printed Name: Date: For the period beginning on the Effective Date and ending December 31, (the prorated period), Lessee agrees to pay to Lessor as prorated Annual Rent the sum of $ , which shall be payable on the Execution Date. For the period beginning on January 1, 20 and ending December 31, 21 , Lessee agrees to pay to Lessor as Annual Rent $ which is equal to 6% of the land only assessed value without any exemptions ($ )(as determined by the appraisal district) for the year 2008, with annual Consumer Price Index increases or decreases which shall be payable annually in advance on or before January 1 of each calendar year.
Option Process. To exercise Xxxxxx’s option to purchase Lessee must timely complete and return the attached sales contract on Exhibit C and return 3 signed originals to Lessor. The sale shall be according to the terms and conditions contained in said Sales Contract. XXXXXXXXX XX LAND PARTNERSHIP, LTD., a Texas limited partnership Xxxxxxxxx XX Land Partnership, LTD., a Texas limited partnership By: XXXXXXXXX XX LAND MANAGEMENT GP, LLC, a Texas Limited Liability Company, GENERAL PARTNER Name: Xxxxxxx X. Xxxxxxxxx Title: Manager (Signature of Lessee) (Signature of additional Lessee) (Printed Name of Lessee) (Printed Name of additional Lessee) Address: Date: EXHIBIT “A” Leased Premises AREA: TRACT: LOT: Physical Address: EXHIBIT “B” MEMORANDUM OF LEASE COUNTY OF § This Memorandum of Lease (“Memorandum”) is entered into by and between XXXXXXXXX XX LAND PARTNERSHIP, LTD, a Texas limited partnership (“Lessor”) and (“Lessee”).
Option Process. To exercise Xxxxxx’s option to purchase Lessee must timely complete and return the attached sales contract on Exhibit “F” and return 3 signed originals to Lessor. The sale shall be according to the terms and conditions contained in said Sales Contract. XXXXXXXXX XX LAND PARTNERSHIP, a Texas limited partnership By: Name: Title: Date: Printed Name: Date: Exhibit “A” to Lease Leased Premises Exhibit “B” to Lease Annual Rent Schedule Amount of Annual Rent For the period beginning on the Effective Date and ending December 31, (the prorated period), Xxxxxx agrees to pay to Lessor as prorated Annual Rent the sum of $ , which shall be payable on the Execution Date. For the period beginning on January 1, 20 and ending December 31, 21 , Xxxxxx agrees to pay to Lessor as Annual Rent $ which is equal to 6% of the land only assessed value without any exemptions ($ )(as determined by the appraisal district) for the year 2008, with annual Consumer Price Index increases or decreases which shall be payable annually in advance on or before January 1 of each calendar year.
