Property Transfer Date definition
Examples of Property Transfer Date in a sentence
Any rental escalations required under this Lease shall be made under the New Lease on the same date and in the same manner as is required under this Lease, in the full amount required as if such Transferred Premises had been under the New Lease for a full year, notwithstanding that the period from the Property Transfer Date to the rent escalation date may be less than one full year.
The initial Fixed Rent for such Transferred Premises shall be an amount equal to the product of (i) the sum of Tenant’s Proportionate Shares applicable to all of the Facilities located on the Transferred Premises, and (ii) aggregate Fixed Rent in effect under this Lease immediately prior to the Property Transfer Date.
Such amounts under the New Lease shall initially be funded by Landlord from the security deposit or escrow deposit, if applicable, held by Landlord and from the Capital Expenditures Records credited to Tenant, with all of such amounts under the New Lease to be equal to such amounts, as determined by Landlord, in its reasonable discretion, as are held by Landlord under this Lease with respect to the Transferred Facilities immediately prior to the Property Transfer Date.
Any rental escalations required under this Lease shall be made under the New Lease on the same date and in the same manner as is required under this Lease, in the full amount required as if such Transferred Facilities had been under the New Lease for a full year, notwithstanding that the period from the Property Transfer Date to the rent escalation date may be less than one full year.
The initial Minimum Rent for such Transferred Facilities shall be an amount of Allocated Facility Rent for the Transferred Facilities immediately prior to the Property Transfer Date (based upon the Tenant’s Proportionate Shares of such Transferred Facilities and as described in Section 4 of this Exhibit H).
The Project Company shall, within 15 days following the Contract Date, execute the PacifiCorp Property Access Agreement for the purpose of performing the Preliminary Services through the PacifiCorp Property Transfer Date and shall comply with its terms through the PacifiCorp Property Transfer Date and thereafter as provided therein.
Prior to the PacifiCorp Property Transfer Date, the PacifiCorp Property and the Facilities will be owned by PacifiCorp.
Delivery of such other documents on the Property Transfer Date as may be reasonably requested by the title company issuing title insurance to Heartwood 42 and Heartwood 44 in connection with the transfer of the Flyover Property and Transportation Property in order to transfer good and marketable title to such property, subject only to the Permitted Exceptions set forth in Exhibits A-1 and B-1.
Within ninety (90) days following the City Property Transfer Date, the relocation of all current residents, and securing all necessary project funding; the Developer shall commence demolition of the Existing Buildings that will not be rehabilitated and construction of the Site Improvements in accordance with the Conceptual Plan.
Prior to and following the PacifiCorp Property Transfer Date, the Project Company shall have access to the Adjacent and Related Lands to the extent and on such terms as such access is allowed under access agreements negotiated with the owners of the Adjacent and Related Lands in furtherance of the Project.