Common use of Responsive Notice Clause in Contracts

Responsive Notice. Not later than thirty (30) days following the date of the Buy/Sell Offering Notice (the “Buy/Sell Response Deadline Date”), the Buy/Sell Responding Partner shall deliver to the Initiating Partner a responsive notice, without qualification or condition, electing either: 16.2.1 To require the Partnership to sell to the Buy/Sell Initiating Partner, such Properties as are the subject of the Buy/Sell Offering Notice, at the Purchase Price; or 16.2.2 To purchase from the Partnership, such Properties as are the subject of the Buy/Sell Offering Notice, at the Purchase Price proposed by the Buy/Sell Initiating Partner. 16.2.3 TRT LLC shall have the right, which shall be exercised in the offering/responsive notice, to acquire 100% of DCT LLC’s ownership interests in the Fee Owner rather than the fee simple interest in the Property or remaining Properties which is/are the subject of the Buy/Sell for a sum equal to the same purchase price as would have been paid for the fee simple interest in the Property(ties) multiplied by DCT’s Percentage Interest in such Property(ies). Notwithstanding anything to the contrary contained herein, the Partners acknowledge and agree that with respect to any DCX Asset, DCT LLC may acquire only the fee simple interest in the Properties. 16.2.4 The foregoing provisions are all subject to Section 13.24 of this Agreement.

Responsive Notice. Not later than thirty (30) days following the date of the Buy/Sell Offering Notice (the “"Buy/Sell Response Deadline Date”"), the Buy/Sell Responding Partner shall deliver to the Initiating Partner a responsive notice, without qualification or condition, electing either: 16.2.1 16.3.1 To require the Partnership to sell to the Buy/Sell Initiating Partner, such Properties as are the subject of the Buy/Sell Offering Notice, at the Purchase Price; or 16.2.2 16.3.2 To purchase from the Partnership, such Properties as are the subject of the Buy/Sell Offering Notice, at the Purchase Price proposed by the Buy/Sell Initiating Partner. 16.2.3 16.3.3 TRT LLC shall have the right, which shall be exercised in the offering/responsive notice, to acquire 100% of DCT LLC’s 's ownership interests in the Fee Owner rather than the fee simple interest in the Property or remaining Properties which is/are the subject of the Buy/Sell for a sum equal to the same purchase price as would have been paid for the fee simple interest in the Property(ties) multiplied by DCT’s 's Percentage Interest in such Property(ies). Notwithstanding anything to the contrary contained herein, the Partners acknowledge and agree that with respect to any DCX Asset, DCT LLC may acquire only the fee simple interest in the Properties. 16.2.4 16.3.4 The foregoing provisions are all subject to Section 13.24 of this Agreement.

Responsive Notice. Not later than thirty (30) days following the date of the Buy/Sell Offering Notice (the “Buy/Sell Response Deadline Date”), the Buy/Sell Responding Partner shall deliver to the Initiating Partner a responsive notice, without qualification or condition, electing either: 16.2.1 16.3.1 To require the Partnership to sell to the Buy/Sell Initiating Partner, such Properties as are the subject of the Buy/Sell Offering Notice, at the Purchase Price; or 16.2.2 16.3.2 To purchase from the Partnership, such Properties as are the subject of the Buy/Sell Offering Notice, at the Purchase Price proposed by the Buy/Sell Initiating Partner. 16.2.3 16.3.3 TRT LLC shall have the right, which shall be exercised in the offering/responsive notice, to acquire 100% of DCT LLC’s the ownership interests in the Fee Owner rather than the fee simple interest in the Property or remaining Properties which is/are the subject of the Buy/Sell for a sum equal to the same purchase price as would have been paid for the fee simple interest in the Property(ties) multiplied by DCT’s Percentage Interest in such Property(ies). Notwithstanding anything to the contrary contained herein, the Partners acknowledge and agree that with respect to any DCX Asset, DCT LLC may acquire only the fee simple interest in the Properties. 16.2.4 16.3.4 The foregoing provisions are all subject to Section 13.24 of this Agreement.