American Spectrum definition

American Spectrum has the meaning set forth in the preface above.

American Spectrum means, collectively and jointly and severally, American Spectrum Realty, ASROP and American Spectrum Xxxxxx Properties unless the context expressly requires that the reference is applicable only to one of such Parties whereupon such reference shall apply only to such Party.

Examples of American Spectrum in a sentence

• American Spectrum is a corporation duly organized, validly existing, and in good standing under the laws of Maryland, as set forth in the Preface.

• American Spectrum is duly authorized to conduct business and is in good standing under the laws of each jurisdiction where such qualification is required, except where failure to so qualify or obtain authorization would not have a Material Adverse Effect on American Spectrum.

• No amendment of any provision of this Agreement shall be valid unless the same shall be in writing and signed by American Spectrum and the Merging Entity.

• An exchange rights agreement on customary terms shall have been entered into by the parties hereto, which shall permit exchange of the Operating Partnership Units for American Spectrum Common Shares subject to customary limitations on and after the first anniversary of the Closing, shall have been executed and delivered.

• American Spectrum shall use commercially reasonable efforts to register the American Spectrum Common Shares promptly following the first anniversary of the consummation of the Merger.

• American Spectrum and the Operating Partnership have full power and authority (including full corporate and limited partnership power and authority) to execute and deliver this Agreement and to perform their obligations hereunder.

• No certificates representing fractional American Spectrum Common Shares or fractional Operating Partnership Units shall be issued.

• The Share Consideration and the Operating Partnership Units will, when issued, be duly authorized, validly issued, fully paid and nonassessable, and no stockholder or partner of American Spectrum will have any preemptive right or similar rights of subscription or purchase in respect thereof.

• No American Spectrum Common Shares or Operating Partnership Unit will be issued for a fractional interest representing less than 50% of an American Spectrum Common Share or Operating Partnership Unit.

• American Spectrum shall designate an exchange agent (the "Exchange Agent") to act as such in connection with the issuance of certificates representing the American Spectrum Common Shares and Operating Partnership Units pursuant to this Agreement.