Other Property Owner definition
Examples of Other Property Owner in a sentence
Pledge Agreement: that certain Pledge and Security Agreement of even date herewith made by TPG/CalSTRS for the benefit of Lender, which creates a security interest in the 100% ownership direct and indirect interest of TPG/CalSTRS in the Other Property Owner.
Not later than thirty (30) days after the end of each monthly period, each Project Owner and Other Property Owner shall prepare, or cause to be prepared, and deliver to Lender, monthly operating statements relating to its respective Project or Other Property for such monthly period (which statements shall include income and disbursements).
The Developing Property Owner, Other Property Owner and City shall meet and discuss (i) whether the Subsequent Governmental Actions of the Developing Property Owner’s tract trigger the need for the Other Property Owner’s Parcel(s) of the Property to be benefited or burdened with OPO Infrastructure and (ii) the preliminary design profile and specifications of the OPO Infrastructure.
Within fourteen (14) days of receipt of the right-of- way/easement instruments on the City’s form, the Other Property Owner agrees to execute, without additional consideration, the necessary right-of-way/easements on the City’s form and deliver said executed instruments to the Developing Property Owner.
The Developing Property Owner, at its expense, shall have its professional engineer prepare a preliminary design profile and specifications for the OPO Infrastructure on the Other Property Owner’s Parcel(s) of the Property and provide such preliminary design profile and specifications to the City and Other Property Owner, including an estimated costs projection and time line for said OPO Infrastructure.
The “Balloon Payment Date” shall be the date that the Other Property Owner or a party with an interest in the Other Property Owner’s tract taps, connects to or uses the OPO Infrastructure associated with a commercial development or a residential development that includes two or more residential dwellings (collectively “Tapping”).
Furthermore, the Other Property Owner hereby grants to Developing Property Owner a mortgage lien upon the Other Property Owner’s tract to secure the payment of the OPO Infrastructure Costs and any Default Interest.
Seven (7) days thereafter, the Developing Property Owner may award the OPO Infrastructure to the lowest responsible bid (or other bidder acceptable to the Other Property Owner).
Each Project Owner and Other Property Owner shall provide, along with the such financial statements required by this Section, a statement of the Qualifying Cash Flow After Debt Service for the immediately preceding month completed.
The BMC Space Master Lease shall be on the form of the “Master Lease” prepared in connection with that certain loan being made concurrently herewith by Lender to Other Property Owner.