Satisfactory Parcel Sample Clauses

Satisfactory Parcel. Such Parcel either (a) is satisfactory to the Majority Banks in their sole and absolute discretion or (b) satisfies all of the following conditions: (1) the Parcel is improved, and the improvements located on such Parcel are and will be used solely for flexible industrial or warehouse purposes, (2) the Acquisition Cost of the Parcel to the Company is less than $18,181,818, (3) more than eighty percent (80%) of the net rentable area of the improvements located on such Parcel is covered by signed leases with third-party tenants having remaining terms of three (3) years or longer, and (4) the Administrative Agent has received evidence in form and substance satisfactory to the Administrative Agent of such Parcel's compliance with the foregoing conditions. 4.1.3
Sample 1
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Satisfactory Parcel. Such Parcel either (a) is satisfactory to the Supermajority Banks in their sole and absolute discretion or (b) both (i) is satisfactory to the Majority Banks in their sole and absolute discretion and (ii) satisfies all of the following additional conditions: (1) the Parcel is improved, and the improvements located on such Parcel are and will be used solely for suburban office, industrial, warehouse or research and development purposes (except for the Parcel located in Colorado Springs, Colorado, commonly known as the Academy Place shopping center, which is and will be used solely for retail purposes), (2) the gross acquisition cost of the Parcel to the Company or a Subsidiary is less than Ten Million Dollars ($10,000,000.00), (3) the Parcel is located in a geographic market in which one or more Approved Parcels is located, and (4) the Administrative Agent has received evidence in form and substance satisfactory to the Majority Banks of such Parcel's compliance with the foregoing conditions. 4.1.3
Sample 1
Satisfactory Parcel. Such Parcel either (a) is satisfactory to Majority Banks in their sole and absolute discretion or (b) satisfies all of the following conditions: (1) the Parcel is improved, and the improvements located on such Parcel are and will be used solely for flexible industrial or warehouse purposes, (2) if such Parcel were an Approved Parcel, the Approved Parcel Value (as determined by the Administrative Agent) of such Parcel would be less than Ten Million Dollars ($10,000,000.00), (3) more than eighty percent (80%) of the net rentable area of the improvements located on such Parcel is covered by signed leases with third-party tenants having remaining terms of three (3) years or longer, and (4) the Administrative Agent has received evidence in form and substance satisfactory to the Administrative Agent of such Parcel's compliance with the foregoing conditions. 4.1.3
Sample 1
Satisfactory Parcel. Such Parcel is satisfactory to Majority Banks in their sole and absolute discretion. 4.1.3
Sample 1
Satisfactory Parcel. Such Parcel (i) is satisfactory to the Majority Banks in their sole and absolute discretion and (ii) satisfies all of the following additional conditions: (1) the Parcel is improved, and the improvements located on such Parcel are and will be used solely for suburban office, industrial, warehouse or research and development purposes, (2) not less than ninety percent (90%) of the net rentable area of the improvements located on such Parcel are leased to and occupied by third party tenants who are paying rent, (3) no construction on such Parcel (other than construction of tenant improvements) is either in progress or proposed by the Company, and (4) the Administrative Agent has received evidence in form and substance satisfactory to the Majority Banks of such Parcel's compliance with the foregoing conditions. 4.1.3
Sample 1
Satisfactory Parcel. Either (a) such Parcel is satisfactory to Majority Banks in their sole and absolute discretion, or (b) all of the following conditions are satisfied: (i) the Parcel is improved, and the improvements located on such Parcel are and will be used solely for office, research and development, bulk industrial or flexible industrial purposes, (ii) no less than eighty-five percent (85%) of the net rentable area of the improvements on the Approved Parcels, in the aggregate, are leased to, and are occupied by, paying third-party tenants under signed leases having remaining terms of three (3) years or longer as of the date such Parcel becomes an Approved Parcel; (iii) no less than seventy-five percent (75%) of the net rentable area of the improvements on any single Approved Parcel are leased to, and are occupied by, paying third-party tenants under signed leases having remaining terms of three (3) years or longer as of the date such Parcel becomes an Approved Parcel (provided that, if the test under the foregoing clause (ii) is met, then a maximum of twenty percent (20%) of the net rentable area of the Approved Parcels, in the aggregate, may be comprised of real Property with less than such seventy-five percent (75%) occupancy); and (iv) the Administrative Agent has received evidence in form and substance satisfactory to the Administrative Agent of compliance with the foregoing conditions. Notwithstanding the foregoing, the Xxxxxxx Property shall not cease to be an Approved Parcel and shall not fail to meet the test under clauses (b)(ii) and (b)(iii) above solely because the tenant leases on the Xxxxxxx Property have remaining terms of less than three (3) years as of the date the Xxxxxxx Property became an Approved Parcel.
Sample 1

Related to Satisfactory Parcel

  • Satisfactory Due Diligence Each Lender shall have completed, to its satisfaction, a due diligence analysis with respect to the business, assets, operations, condition (financial and otherwise) and prospects of the Loan Parties, including with respect to their ability to comply with the representations and warranties and covenants contained in the Loan Documents.

  • Satisfactory Completion of Due Diligence The Company and the Shareholders shall have completed their legal, accounting and business due diligence of the Parent and the results thereof shall be satisfactory to the Company and the Shareholders in their sole and absolute discretion.

  • Satisfactory Legal Form All documents executed or submitted pursuant hereto by or on behalf of any Obligor shall be reasonably satisfactory in form and substance to the Administrative Agent and its counsel, and the Administrative Agent and its counsel shall have received all information, approvals, opinions, documents or instruments as the Administrative Agent or its counsel may reasonably request.

  • Environmental Due Diligence Lender shall be provided with such Environmental Due Diligence for the Property as Lender may require, to be in form and content acceptable to Lender. All reports shall be addressed to Lender. Borrower shall pay for the cost of the Environmental Due Diligence.

  • Satisfactory Proceedings All proceedings taken in connection with the transactions contemplated by this Agreement, and all documents necessary to the consummation thereof, shall be satisfactory in form and substance to you and your special counsel, and you shall have received a copy (executed or certified as may be appropriate) of all legal documents or proceedings taken in connection with the consummation of said transactions.

  • REASONABLE BONA FIDE DUE DILIGENCE EXPENSES The Company or the Advisor shall reimburse the Dealer Manager or any Soliciting Dealer for reasonable bona fide due diligence expenses incurred by the Dealer Manager or any Soliciting Dealer. The Company shall only reimburse the Dealer Manager or any Soliciting Dealer for such approved bona fide due diligence expenses to the extent such expenses have actually been incurred and are supported by detailed and itemized invoice(s) provided to the Company and permitted pursuant to the rules and regulations of FINRA.

  • ACCESS AND COOPERATION; DUE DILIGENCE (a) Between the date of this Agreement and the Closing Date, the COMPANY will afford to the officers and authorized representatives of CTS and the Other Founding Companies access during business hours to all of the COMPANY's sites, properties, books and records and will furnish CTS with such additional financial and operating data and other information as to the business and properties of the COMPANY as CTS or the Other Founding Companies may from time to time reasonably request. The COMPANY will cooperate with CTS and the Other Founding Companies and their respective representatives, including CTS's auditors and counsel, in the preparation of any documents or other material (including the Registration Statement) which may be required in connection with the transactions contemplated by this Agreement. CTS, NEWCO, the STOCKHOLDERS and the COMPANY will treat all information obtained in connection with the negotiation and performance of this Agreement or the due diligence investigations conducted with respect to the Other Founding Companies as confidential in accordance with the provisions of Section 14 hereof. In addition, CTS will cause each of the Other Agreements, binding each of the Other Founding Companies, to contain a provision similar to this Section 7.1 requiring each such Other Founding Company, its stockholders, directors, officers, representatives, employees and agents to keep confidential any information obtained by such Other Founding Company.

  • Preliminary Title Report Seller will, within five (5) Business Days after the Opening of Escrow, cause the Title Company to deliver a preliminary title report for the Property to Buyer and Seller (the "Title Report") along with copies of all plotted easements and underlying documents referenced therein. Buyer shall have until thirty (30 days prior to the end of the Feasibility Period (the "Title Disapproval Deadline") to notify Seller and Title Company what exceptions to title shown thereon, if any, are unacceptable to Buyer ("Disapproved Exceptions"). Buyer’s failure to deliver to Seller written notice of any Disapproved Exceptions by the end of the Title Disapproval Deadline shall be deemed approval by Buyer of all exceptions to title reported in the Title Report. In the event Buyer timely gives notice of any Disapproved Exception, Seller shall have ten (10) Business Days after receipt of such notice to notify Buyer and Escrow Holder either (1) that Seller will cure or insure over such Disapproved Exception; or (2) that Seller will not cure or insure over such Disapproved Exception. Seller's failure to give such notice with respect to a Disapproved Exception shall constitute an election not to cure or insure over such Disapproved Exception; provided, however, that Seller shall cure any Disapproved Exception which is a deed of trust or other monetary lien encumbering the Property not caused by or on behalf of Buyer and any delinquent property taxes or assessments. Seller shall keep the Property free and clear of all monetary liens and encumbrances not reflected in the Title Report, except for current real property taxes. In the event Seller elects or is deemed to elect not to cure or insure over any Disapproved Exception, Buyer shall have the option within five (5) Business Days after receipt (or five (5) Business Days after the date Seller’s response was due if not given) to terminate this Agreement by written notice to Seller and Escrow Holder to that effect, in which case Buyer shall receive a refund of the Deposit and accrued interest thereon, and no party shall have any further rights or obligations under this Agreement except those which, by their terms, survive the termination hereof.

  • Landlords’ Agreements, Mortgagee Agreements, Bailee Letters and Real Estate Purchases Each Credit Party shall use commercially reasonable efforts to obtain a landlord's agreement, mortgagee agreement or bailee letter, as applicable, from the lessor of each leased property, the mortgagee of each owned property and the bailee with respect to each warehouse, processor or converter facility or other location where Collateral is stored or located, which agreement or letter shall contain a waiver or subordination of all Liens or claims that the landlord, mortgagee or bailee may assert against the Collateral at that location, and shall otherwise be reasonably satisfactory in form and substance to Agent. After the Restatement Closing Date, no real property or warehouse space shall be leased by any Credit Party and no Inventory shall be shipped to a processor or converter under arrangements established after the Restatement Closing Date without the prior written consent of Agent, unless and until a satisfactory landlord agreement or bailee letter, as appropriate, shall first have been obtained with respect to such location. Each Credit Party shall timely and fully pay and perform its obligations under all leases and other agreements with respect to each leased location or public warehouse where any Collateral is or may be located. To the extent permitted hereunder, if any Credit Party proposes to acquire a fee ownership interest in Real Estate after the Restatement Closing Date, it shall first provide to Agent a mortgage, debenture, deed of trust or similar document granting Agent a first priority Lien on such Real Estate, together with a real property survey, local counsel opinion(s), and, if required by Agent, an environmental audit, mortgage title insurance commitment, supplemental casualty insurance and flood insurance, and such other documents, instruments or agreements reasonably requested by Agent, in each case, in form and substance reasonably satisfactory to Agent.

  • Place and Date of Closing; Risk of Loss The closing of the transaction contemplated hereby (the “Closing”) will be held on the Closing Date at such place and time as the parties may mutually agree. Upon Seller’s delivery of the items set forth in Section 6.2 and Purchaser’s delivery of the items set forth in Section 6.3, the Closing will be consummated and Purchaser shall be deemed to have accepted delivery of the Ownership Interests in the Asset. Title to and all risks of loss with respect to the Ownership Interests will pass from Seller to Purchaser upon the completion of the Closing in accordance with this Section 6.

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