Sale of Development Property Prior to Stabilization Sample Clauses

Sale of Development Property Prior to Stabilization. (a) Prior to selling any interest in a Development Property before Stabilization, Mxxxxxx shall send a written notice to MOT of its intention to sell the Development Property (the "Pre-Stabilization Notice"). Such notice shall contain: (i) the ownership interest in the Development Property proposed to be sold by Mxxxxxx (the "DP Offered Interest"), (ii) a copy of an appraisal from a Qualified Appraiser setting forth the appraised value of the Development Property and the interest in such Development Property proposed to be sold, (iii) a calculation of the price at which MOT shall be entitled to purchase the DP Offered Interest, which shall be equal to the appraised value of the DP Offered Interest, after giving effect to a discount of 7.25% of the first 50% of the Development Property proposed to be sold (the "MOT DP Purchase Price"), and (iv) a copy of (or access to) the diligence materials proposed to be made available in the sale process (provided that Mxxxxxx shall, as promptly as practicable, provide MOT with additional customary diligence materials reasonably requested by MOT). On or prior to 15 Business Days following the date of receipt of the Pre-Stabilization Notice, MOT shall reply by written notice to Mxxxxxx whether or not MOT has an interest in the acquisition of the DP Offered Interest. If MOT does not affirmatively indicate that it has an interest in acquiring the DP Offered Interest prior to the end of such 15-Business-Day period, then Mxxxxxx shall be free to sell the DP Offered Interest to any other party without any further obligation to offer the DP Offered Interest to MOT, provided that if Mxxxxxx proposes to sell the DP Offered Interest for less than the MOT DP Purchase Price, it shall first give MOT 5 Business Days prior written notice of such proposed lower price and the material terms of such proposed sale, and MOT shall have the right, exerciseable during such 5-Business-Day period, to agree to purchase the DP Offered Interest at such price and on such terms. (b) If MOT affirmatively indicates that it has an interest in acquiring the DP Offered Interests, then the parties shall negotiate in good faith and execute and deliver such agreements and other documents as may be reasonably necessary for MOT and Mxxxxxx to consummate the acquisition of such DP Offered Interest on terms consistent with the terms of the ROFO Notice, including all documents necessary to reflect the agreements between MOT and Mxxxxxx with respect to such acqui...
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Related to Sale of Development Property Prior to Stabilization

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  • Condominiums/Planned Unit Developments If the Mortgaged Property is a condominium unit or a planned unit development (other than a de minimis planned unit development) such condominium or planned unit development project such Mortgage Loan was originated in accordance with, and the Mortgaged Property meets the guidelines set forth in the Originator's Underwriting Guidelines;

  • Staff Development ‌ The County and the Association agree that the County retains full authority to determine training needs, resources that can be made available, and the method of payment for training authorized by the County. Nothing in this subsection shall preclude the right of an employee to request specific training.

  • Project Development a. Collaborate with COUNTY and project clients to identify requirements and develop a project Scope Statement. a. Develop a Work Breakdown Structure (WBS) for each project. b. Evaluate Scope Statement to develop a preliminary cost estimate and determinate whether project be vendor bid or be executed under a Job Order Contract (JOC).

  • Project Title Enter the title of the exhibition.

  • Completion of Development 7.4.1 Upon the completion of the whole development or complete phases of the development, Council may review this Agreement, in whole or in part, and may: (a) retain the Agreement in its present form; (b) negotiate a new Agreement; (c) discharge this Agreement; or (d) for those portions of the development which are completed, discharge this Agreement and apply appropriate zoning pursuant to the Municipal Planning Strategy and Land Use By-law for Halifax Peninsula as may be amended from time to time.

  • Commencement of Development 5.3.1 In the event that development on the Lands has not commenced within five (5) years from the date of registration of this Agreement at the Registry of Deeds or Land Registry Office, as indicated herein, the Agreement shall have no further force or effect and henceforth the development of the Lands shall conform with the provisions of the Land Use By-law. For the purpose of this section, commencement of development shall mean issuance of a Mobile Home Park Construction Permit. 5.3.2 For the purpose of this section, Council may consider granting an extension of the commencement of development time period through a resolution under Section 4.1 of this Agreement, if the Municipality receives a written request from the Developer at least sixty (60) calendar days prior to the expiry of the commencement of development time period.

  • Subsequent Developments After the date of this Contract and until the Closing Date, Seller shall use best efforts to keep Buyer fully informed of all subsequent developments of which Seller has knowledge (“Subsequent Developments”) which would cause any of Seller’s representations or warranties contained in this Contract to be no longer accurate in any material respect.

  • Project 3.01. The Recipient declares its commitment to the objectives of the Project. To this end, the Recipient shall carry out the Project in accordance with the provisions of Article IV of the General Conditions.

  • Foreign-Owned Companies in Connection with Critical Infrastructure If Texas Government Code, Section 2274.0102(a)(1) (relating to prohibition on contracts with certain foreign-owned companies in connection with critical infrastructure) is applicable to this Contract, pursuant to Government Code Section 2274.0102, Contractor certifies that neither it nor its parent company, nor any affiliate of Contractor or its parent company, is: (1) majority owned or controlled by citizens or governmental entities of China, Iran, North Korea, Russia, or any other country designated by the Governor under Government Code Section 2274.0103, or (2) headquartered in any of those countries.

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