Existing Venture definition
Examples of Existing Venture in a sentence
Each of the Leases is valid and subsisting and in full force and effect, and no Rents or other payments or deposits are held by Seller, the Existing Venture or the Existing Venture's agent, except the security deposits (together with the amount of accrued and unpaid interest thereon) described on the Rent Roll and Rents prepaid for the current month.
Neither Seller nor the Existing Venture have granted any rights, options or rights of first refusal of any kind to any Tenant or otherwise, which are currently in effect, to purchase or to otherwise acquire the Property or any part thereof or interest therein.
Seller and/or the Existing Venture has remitted to the Promotional Association any amounts received by it from Tenants and other Parties that constitute contributions to the Promotional Association.
The Existing Venture has not delivered any default notices to any Tenant under any Lease which has not been cured.
No later than one hundred twenty (120) days after the Closing Date, the Company shall cause to be prepared and delivered to Seller an unaudited balance sheet with respect to the Property and the Existing Venture as of the Proration Date (the "PRORATION DATE BALANCE SHEET" and, together with the Preliminary Proration Date Balance Sheet, the "CLOSING BALANCE SHEETS"), showing Closing Net Equity.