Basic Sale Terms definition

Basic Sale Terms means sale commissions, the amount of cash payable by the purchaser at the closing, and any other material economic, price-related terms of the proposed sale; “Change of Control” means that the members of the Control Group cease, in the aggregate, to (i) own less than 51% of the direct or indirect ownership interest in the Landlord, or (ii) have the sole and absolute right and power to direct or cause the direction of the management and policies of the Landlord, whether by contract or otherwise; and “Control Group” means, collectively, J▇▇▇▇▇ ▇▇▇▇▇ Murias, B▇▇▇▇▇▇ ▇▇▇▇▇▇, M▇▇▇▇ ▇▇▇▇▇▇ and M▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ G▇▇▇▇▇▇▇▇▇▇, and their respective legal heirs.

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Basic Sale Terms means the purchase price, terms of payment of the purchase price, financing contingencies, if any, closing date, and any other terms Landlord desires to include in the Sale Notice to County.

Basic Sale Terms means the proposed purchase price, the amount of cash payable to the Partnership by the purchaser at the closing, the amount and terms of the purchase money note, if any, evidencing a portion of the purchase price and security for such promissory note, any other material economic terms of the proposed sale, and the estimated closing date of the transaction. The Basic Sale Terms shall comply with the requirements of subsection B above.

Examples of Basic Sale Terms in a sentence

The Basic Sale Terms shall provide for distribution of the economic benefits and detriments of the transactions among the Investors in accordance with their respective Percentage Interests.
If Tenant exercises the Purchase ROFO within the twenty (20)-day period described above (time being strictly of the essence), then Tenant shall have the one-time right and obligation (subject to Landlord and Tenant entering into a Purchase Agreement pursuant to the Additional Sale Terms) to purchase the Building upon the Basic Sale Terms and the Additional Sale Terms to the extent such Additional Sale Terms are not inconsistent with the Basic Sale Terms.
The Basic Sale Terms shall comply with the requirements of subsection B above.
If at any time during the Initial Lease Term, Landlord shall desire to sell fee simple title to the Property to a third party as one parcel, Landlord shall first offer the Property to County (“Right of First Offer”) by delivering to County a written notice specifying the Basic Sale Terms (as defined below) upon which Landlord desires to sell the Property (“Sale Notice”).
If after Tenant either rejects the Right of First Offer or does not timely exercise the Right of First Offer and Landlord desires to offer the Building for sale at a purchase price that is less than 95% of the purchase price stated in the Basic Sale Terms, then Landlord must first give Tenant a new notice of its Right of First Offer to purchase the Building in accordance with the procedures set forth in this Section 43.
If at any time during the Term of this Lease, Landlord shall desire to sell fee simple title to the Building to a third party as one parcel (either by a separately recorded parcel of land or by a condominium regime), Landlord shall first offer the Building to Tenant (“Right of First Offer”) by delivering to Tenant a written notice specifying the Basic Sale Terms (as defined below) upon which Landlord desires to sell the Building (“Sale Notice”).
If, following Lessor’s delivery of a Right of First Offer to Purchase Notice, Lessee either rejects the Right of First Offer to Purchase Notice or does not deliver to Lessor a Right of First Office Acceptance Notice within the time period required under Paragraph 53.2, then Lessor shall be free to Sell the Project to any person or entity on terms that are not substantially and materially more favorable to the purchaser than the Basic Sale Terms described in the Right of First Offer to Purchase Notice.
If Lessee timely delivers a Right of First Office Acceptance Notice, then Lessee shall have the right and obligation to purchase the Project upon the Basic Sale Terms and such other terms as may be set forth in the purchase agreement described above.
If TENANT timely exercises the Right of First Offer, then TENANT shall have the right and obligation to purchase the Premises upon the Basic Sale Terms and the Additional Sale Terms (as hereinafter defined) to the extent such Additional Sale Terms are not inconsistent with the Basic Sale Terms.
The Basic Sale Terms shall comply with the requirements of subsection A above.

More Definitions of Basic Sale Terms

Basic Sale Terms as such term is defined in Section 13(b)(ii) hereof.

Basic Sale Terms means the purchase price and terms of any seller financing offered by Landlord; and “Additional Sale Terms” shall mean those terms set forth on Exhibit E attached to this Amendment. The Lease shall terminate upon transfer of title to Tenant pursuant to this Article 16.

Basic Sale Terms means a good faith offer the Selling Members would be willing to accept from an unrelated third party containing the proposed purchase price, the amount of cash payable to the Company by the purchaser at the closing, any other material economic terms of the proposed sale, and the estimated closing date of the transaction. The Basic Sale Terms shall otherwise comply with the requirements of Subsection A above.

Basic Sale Terms means the purchase price, terms of payment of the purchase price, financing contingencies, if any, and any other terms LANDLORD desires to include in the notice to TENANT;

Basic Sale Terms means the purchase price, terms of payment of the purchase price, financing contingencies and any other terms Lessor desires to include in the notice to Lessee (including, without, limitation, Lessor and Lessee responsibilities with respect to title and survey (and if such responsibilities are not included in the Right of First Offer to Purchase Notice, the Lessor and Lessee responsibilities with respect to title and survey shall be in accordance with then prevailing custom and practice in the relevant market).