Purchase of Real Property. If permitted by the Award Budget and scope of activities provided in this Agreement, a Grantee may use the Grant Funds during the Award Term for the costs associated with the purchase of real property (as defined by 2 CFR 200.1) either through the use of reimbursement or advanced funds as permitted in Paragraph 2.3 of this Agreement for the following purposes and consistent with the Grantor’s bondability guidelines and 2 CFR 200:
(a) Cash payment of the entirety or a portion of the real property acquisition;
(b) Cash Payment of a down payment for the acquisition;
(c) Standard and commercially reasonable costs required to be paid at the acquisition closing (i.e., closing costs); or
(d) Payments to reduce the debt incurred by Grantee to purchase the real property.
Purchase of Real Property. If permitted by the Award Budget and scope of activities provided in this Agreement, a Grantee may use the Grant Funds during the Award Term for the costs associated with the purchase of real property (as definedby 2 CFR 200.1) either through the use of reimbursement or advanced funds as permitted in Paragraph 2.3 of this Agreement for the following purposes and consistent with the Grantor’s bondability guidelines and 2 CFR 200:
(a) Cash payment of the entirety or a portion of the real property acquisition;
(b) Cash Payment of a down payment for the acquisition;
(c) Standard and commerciallyreasonable costs required to be paid at the acquisitionclosing (i.e., closing costs); or
(d) Payments to reduce the debt incurred by Grantee to purchase the real property.
Purchase of Real Property. Landlord does not yet own the Real Property. Pursuant to that certain Purchase and Sale Agreement and Joint Escrow Instructions, dated June 30, 2004, as amended and as same may be further amended (“Purchase Agreement”), Landlord has agreed to buy the Real Property and Stetman and Xxxxxx Properties has agreed to sell the Real Property to Landlord. Landlord shall use its commercially reasonable efforts to acquire or cause its affiliate to acquire the Real Property in accordance with the Purchase Agreement by January 15, 2005. It is a condition precedent to the effectiveness of the Lease (except for Sections 3.3, 3.4, 7.1, 18.2, 18.6, 18.14 and 18.18 hereof and this Section, which shall be in full force and effect as of the date of the Lease) that Landlord or an affiliate of Landlord shall have acquired the Real Property. If neither Landlord nor Landlord’s affiliate shall have acquired the Real Property by March 15, 2005, then Tenant may and, if such failure to acquire the Real Property is not due to any default or breach by Landlord, Landlord may, terminate this Lease by delivery of written notice to the other party, effective upon such delivery. If an affiliate of Landlord acquires the Real Property, then Landlord shall cause such affiliate to assume all of Landlord’s obligations hereunder before such affiliate acquires the Real Property or any interest therein (other than the right to purchase the Real Property pursuant to the Purchase Agreement). If Landlord or an affiliate of Landlord acquires the Real Property, then:
(a) Landlord shall properly deliver written notice thereof to Tenant;
(b) Landlord and Tenant shall promptly execute a written acknowledgment that the condition precedent set forth in this Section 18.19 has been satisfied;
(c) Landlord and Tenant shall promptly execute and cause to be recorded a memorandum of this Lease (the recordation of the memorandum shall be deemed satisfaction of (b) above);
(d) Landlord shall promptly cause any applicable holder of a mortgage or deed of trust which is superior in priority to this Lease to execute and deliver the Non-Disturbance Documents to Tenant in form and substance reasonably acceptable to Tenant; and
(e) Landlord shall promptly cause Lawyers Title Company (“Title Company”) to deliver to Tenant an ALTA extended lessee’s policy of title insurance (with the Western Regional exception deleted) insuring Tenant’s leasehold in the Premises under this Lease in a reasonable and customary amount determine...
Purchase of Real Property. (a) The parties agree that, on the Closing Date, the Real Property shall be transferred and conveyed by Seller to the Land Company, by special warranty deed, for a purchase price of $300,000. Accordingly, the purchase price payable for the Shares under the Purchase Agreement shall be reduced from $2,714,310 to $2,414,310. The allocation of the purchase price set forth in Schedule 2.08 to the Purchase Agreement shall be restated as set forth on Schedule 2.08 attached hereto.
(b) The cost of title insurance with respect to the conveyance of the Real Property shall be equally divided between Seller and the Land Company, based upon the purchase price therefor. From and after the Closing Date, all of the rights, options and obligations of Buyer set forth in Section 6.10 of the Purchase Agreement shall belong to and be exercised solely by the Land Company, including, without limitation, the right of access to all information pertaining to the Investigation and the Remediation, the right and option to require Seller to purchase the Real Property on the terms and under the conditions set forth in Section 6.10(b) of the Purchase Agreement, and the right and option to lease the Real Property back from Seller in the event of a reconveyance.
Purchase of Real Property. AS A CONDITION TO THE CLOSING of the transaction contemplated under this Agreement, Buyer (or a related entity) agrees to purchase the Business Real Property pursuant to the real estate purchase agreement which is attached hereto as Exhibit "D" and incorporated herein by reference.
Purchase of Real Property. Attach any real estate contract. ITEM COST
(1) (a) Contract Purchase Price $282,500 TOTAL PURCHASE PRICE $282,500 TOTAL LAND COSTS $282,500 Amount of Land Costs to be Financed with Bond Proceeds $254,250-
Purchase of Real Property. Borrowers have informed Bank that a Borrower or an Affiliate of a Borrower intends to purchase that certain parcel of real property (the “Real Estate Purchase”) commonly known as 00 Xxxxxx Xxxxx, Xxxxxxxxx, Xxx Xxxxxx (the “Target Real Property”) and Borrowers have requested that Bank consent to the Real Estate Purchase and either consent to financing from a financial institution (“Real Estate Financing”) or otherwise provide the financing in connection therewith upon terms, conditions and documentation acceptable to Bank in its sole discretion. Upon the effectiveness of this Amendment, Bank consents to the Real Estate Purchase so long as the (a) aggregate purchase price does not exceed $2,850,000 and (b) the documents, instruments and agreements evidencing the Real Estate Purchase and the terms and conditions contained therein are acceptable to Bank in its sole discretion. Upon the effectiveness of this Amendment, Bank consents to the Real Estate Financing so long as the (a) aggregate indebtedness incurred with respect thereto does not exceed $1,850,000, (b) the financial institution is acceptable to Bank in its sole discretion, (c) the Real Estate Financing in secured solely by the Target Real Property, (d) the financial institution providing the Real Estate Financing executes and delivers to Bank a Third Party Waiver and (e) the documents, instruments and agreements evidencing the Real Estate Financing and the terms and conditions contained therein are acceptable to Bank in its sole discretion. Borrowers agree to provide Bank final documents evidencing the Real Estate Purchase and Real Estate Financing at least five (5) Business Days prior to the effectiveness of each such transaction.
Purchase of Real Property. Each Advance request to be used for the acquisition of real property (regardless of whether such real property is to be acquired by Borrower or by a Subsidiary of Borrower as permitted hereunder) shall be subject to the following conditions:
1. Not later than thirty (30) days prior to the proposed purchase date, Borrower shall furnish to Lender a copy of the contract for the purchase of the subject property, together with any amendments thereof. Such contract shall be arm’s-length with a seller who is not an Affiliate or Subsidiary of Borrower;
2. Not later than ten (10) days prior to the proposed purchase date, Borrower shall furnish to Lender a mortgagee title commitment covering the subject property in an amount not less than the purchase price therefor, and containing no exceptions which are objectionable to Lender;
3. At the time of the acquisition of the subject property, Lender shall be provided with a first-priority mortgage covering this subject property, as Collateral;
4. In the event that proceeds from the RLOC are advanced by Borrower to a Subsidiary for the acquisition of the subject property, such Subsidiary shall be joined as a Credit Party hereto as provided in Section 4.1(m) hereof, and such advance by Borrower to the Subsidiary shall be evidenced by a promissory note which shall be assigned by Borrower to Lender as Collateral. All costs, fees and expenses incurred by Lender in connection with Borrower’s compliance with the foregoing conditions shall be paid by Borrower to Lender on demand.
Purchase of Real Property. Either simultaneous with the Closing hereunder or immediately prior to the Closing hereunder, Buyer shall have completed, to Buyer’s satisfaction in its sole discretion, its purchase of the Real Property from Lemont Holdings, LLC.
Purchase of Real Property. On or before the expiration of the Due Diligence Period, Purchase and Seller shall have entered into the Real Property Agreement and Purchaser or nominee shall acquire the real property commonly known as 0000 Xxxxxxx Xxxxxxxxxx Xxxx Xxxx, Xxx Xxxx, Xxxxxxxxxx 00000 in accordance therewith on or before Closing.
