Examples of Other Centers in a sentence
Rent Credit Amounts attributable to the sales of (i) Eagle Crest (Carmichael), Xxxxxxx Center (Kentucky) and Countryside shall be applied in their entirety to the existing Leases applicable to such facilities, and (ii) any other Subject Facilities (excluding the Replacement Lease Facilities) shall be applied in their entirety on a 20/80 basis to reduce the annual base rent payable under the Connecticut Master Lease and Other Centers Master Lease.
Buyer acknowledges that Seller may endeavor to effect a like-kind exchange under Section 1031 of the Internal Revenue Code of 1986, as amended (the "Code"), such that Seller can acquire the Other Centers, or other properties, with the proceeds of the sale of the Shopping Center to Buyer.
Rent Credit Amounts attributable to the sales of Subject Facilities that (i) are leased under the Arden, Kentucky and Ohio Leases shall be applied to each such applicable Lease, (ii) are leased under any other Lease shall be applied to the Connecticut, Other Centers and Revolver Leases (the “Allocated Leases”) in the following percentages: (A) Connecticut = 16.62%; (B) Other Centers = 21.42%; and (C) Revolver = 61.96%.
In the event that the Facility Base Rent attributable to a Replacement Lease Facility is greater than the Replacement Rent Credit Amount, at such time as the sale of a Replacement Lease Facility occurs all Subject Facility Excess Rent with respect thereto shall be reallocated on a 20/80 basis to increase the annual Base Rent payable under the Connecticut Master Lease and Other Centers Master Lease.
Accordingly, at such time as the sale of a Subject Facility occurs, all Subject Facility Excess Rent with respect thereto shall be reallocated on a 20/80 basis to increase the annual Base Rent payable under the Connecticut Master Lease and Other Centers Master Lease.
In the event that the Replacement Rent Credit Amount is greater than the Facility Base Rent attributable to such Replacement Lease Facility, at such time as the sale of a Replacement Lease Facility occurs such excess amount shall be applied on a 20/80 basis to reduce the annual base rent payable under the Connecticut Master Lease and Other Centers Master Lease.
The Replacement Rent Credit Amount attributable to the sale of Decatur Township shall be applied on a 20/80 basis to reduce the annual base rent payable under the Connecticut Master Lease and Other Centers Master Lease.
Rent Credit Amounts attributable to the sale of the Missouri River facility shall be allocated as follows: the first $1,271,244 shall be applied to reduce the annual base rent payable under the HUD 6 Lease and any Rent Credit Amount exceeding such amount shall be applied on a 20/80 basis to reduce the annual base rent payable under the Connecticut Master Lease and Other Centers Master Lease.
It is not Buyer's intention to effect a Section 1031 exchange with respect to the proceeds of Buyer's sale of the Other Centers to Seller.
Rent Credit Amounts attributable to the sale of the Deer Lodge facility shall be allocated as follows: the first $400,379 shall be applied to reduce the annual base rent payable under the HUD 6 Lease and any Rent Credit Amount exceeding such amount shall be applied on a 20/80 basis to reduce the annual base rent payable under the Connecticut Master Lease and Other Centers Master Lease.