Optioned Real Property definition
Examples of Optioned Real Property in a sentence
Parent or a Parent Subsidiary has a valid option to acquire all Parent Optioned Real Property pursuant to and in accordance with the terms of the relevant option or purchase Contract, in each case free and clear of all Liens other than Parent Permitted Liens.
Parent has made available to Weyerhaeuser a true and complete copy of each material option or purchase Contract under which the Parent Optioned Real Property is held.
As of the Closing, there will be no liens against any portion of the Optioned Real Property.
The purchase price for certain lots comprising the Optioned Real Property will include an allocable portion of the Future Land Profit of $35,000,000 as set forth in Section 2.1 and the Option Agreement.
The optionee's title policy for the Optioned Real Property contemplated by Section 2.3B.
The parties agree that Colonial will pay 100% of these items relating to Buyer's future acquisition of the Optioned Real Property.
Buyer and Meritage may at their option set-off any of Seller's indemnification obligations arising under this Agreement against the Future Land Profit component of the purchase price for the Optioned Real Property.
In addition, Buyer and Seller agree that if Buyer elects to acquire substantially all of the Optioned Real Property pursuant to the Option Agreement, Buyer's final [ * ]payment of the Future Land Profit, or such lesser portion that is then otherwise payable, (the "HOLDBACK AMOUNT") will be placed into escrow at such time payment is due under the Option Agreement.
The Company’s or applicable Company Subsidiary’s interest in properties which are the subject of the Option Agreements are referred to herein as the “Optioned Real Property”, and the Owned Real Property, the Leased Real Property and the Optioned Real Property, the Company’s or applicable Company Subsidiary’s interest in all easements, tenancies, subleases, licenses, rights-of-way, occupancies, co-tenancies or other rights of possession collectively, are referred to herein as the “Real Property”.
Complete and correct copies of any instruments evidencing Encumbrances, commitments for the issuance of title insurance, title opinions, surveys and appraisals in Seller's or Company’s possession and any policies of title insurance currently in force and in the possession of Seller or Company with respect to each such parcel of Real Property or the Optioned Real Property have heretofore been delivered by Seller to Buyer.