Property Under Contract definition

Property Under Contract means each Eligible Property Under Contract not rejected by Optionee during the Feasibility Period in accordance with the terms of this Agreement.
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Property Under Contract means the Property that currently has an executed Purchase Agreement and conditions to closing have been waived.
Sample 1

Examples of Property Under Contract in a sentence

  • From and after the Option Acceptance Date, at such time as a Property Under Contract becomes a Converted Property, Optionee shall deposit with Escrow Holder the Project Second Option Payment for such Converted Property in immediately available funds, and such Project Second Option Payment shall thereafter be treated as part of the Second Option Payment.

  • Assignee hereby assumes all of the benefits and burdens of the Applicable Underlying Agreement arising after the Closing and agrees to perform all of the covenants and obligations of Assignor thereunder relating to the applicable Property Under Contract and arising and/or to be performed on or after the Closing.

  • If such written notice is delivered to Optionee after the Option Acceptance Date, Optionee shall have twenty (20) calendar days following Optionee’s receipt of such notice (the Closing tolling for such time period) to notify such Optionor in writing of its election to either acquire such Owned Property or Property Under Contract, as applicable, or to terminate this Agreement with respect to such Owned Property or Property Under Contract, as applicable, on account of the Condemnation Action.

  • Failure of Optionee to notify such Optionor of its election within such twenty (20) calendar day period shall be deemed an election to accept such Owned Property or Property Under Contract, as applicable, subject to such Condemnation Action.

  • In the event that Optionee elects to terminate this Agreement with respect to any Owned Property or Property Under Contract, as applicable, pursuant to Section 12(a) hereof, Optionee shall cancel Escrow with respect to such Owned Property or Property Under Contract, as applicable, by written notice to Escrow Holder and Optionor, this Agreement shall be deemed terminated and Optionee and Optionor shall have no further liability hereunder.

  • In the event that Optionee elects to terminate this Agreement with respect to any Owned Property or Property Under Contract, as applicable, pursuant to Section 12(a) hereof, Optionee shall cancel Escrow with respect to such Owned Property or Property Under Contract, as applicable, by written notice to Escrow Holder and Optionors, this Agreement shall be deemed terminated and Optionee and Optionors shall have no further liability hereunder.

  • In the event that, at any time following the Option Acceptance Date and prior to Closing, all or any material portion of any Owned Property or Property Under Contract is taken by the exercise of the power of eminent domain (a “Condemnation Action”), then the applicable Optionor shall, promptly after learning of the Condemnation Action, give written notice of such Condemnation Action to Optionee.

  • The Project Option Price for each Property Under Contract shall be reduced at Closing by (i) the purchase price payable by Optionor for the applicable Underlying Property (excluding any deposits made by Optionor under any Underlying Agreement related to such Property Under Contract), and (ii) any increase in the closing costs payable by Optionee under the applicable Underlying Escrow over and above the closing costs to be borne by Optionee under the Escrow (collectively, the “Closing Cost Differential”).

  • Failure of Optionee to notify Optionor of its election within such twenty (20) calendar day period shall be deemed an election to accept such Owned Property or Property Under Contract, as applicable, subject to such Condemnation Action.

  • In the event that, at any time following the Option Acceptance Date and prior to Closing, all or any material portion of any Owned Property or Property Under Contract is taken by the exercise of the power of eminent domain (a “Condemnation Action”), then Optionor shall, promptly after learning of the Condemnation Action, give written notice of such Condemnation Action to Optionee.

Related to Property Under Contract

  • Tender Contract means the contract between the City and each Tenderer governing the ITT process;

  • CFD Contract or "CFD" shall mean a contract which is a contract for difference by reference to fluctuations in the price of the relevant security or index;

  • Seller Contract any Contract (a) under which Seller has or may acquire any rights or benefits; (b) under which Seller has or may become subject to any obligation or liability; or (c) by which Seller or any of the assets owned or used by Seller is or may become bound.

  • Provider contract means any contract between a provider and a carrier (or a carrier's network,

  • Open Contract means a Contract which has not been closed out and which has not yet matured;

  • Charter contract or "contract" means a fixed-term, renewable contract

  • Deemed Contract means a contract which is deemed to have automatically been formed when we supply gas or electricity to your property where you have not actively agreed to a new supply of gas and/or electricity from us;

  • Master Contract means the CATS Master Contract between the Maryland Department of Budget and Management andTO Contractor dated December 19, 2005.

  • Major Contract means (i) any management agreement relating to the Properties or the Loan Parties, (ii) any agreement between any Loan Party and any Affiliate of any Relevant Party and (iii) any brokerage, leasing, cleaning, maintenance, service or other contract or agreement of any kind (other than Leases) relating to the Properties, in each case involving payment or expense of more than One Million and No/100 Dollars ($1,000,000) during any twelve (12) month period, unless cancelable on thirty (30) days or less notice without requiring payment of termination fees or payments of any kind.

  • sub-contract means the primary contractor’s assigning, leasing, making out work to, or employing, another person to support such primary contractor in the execution of part of a project in terms of the contract;

  • Assigned Contract shall have the meaning set forth in Section 1.1(b).

  • Covered contract means a DoD prime contract for an amount exceeding the simplified acquisition threshold, except for a fixed-price contract without cost incentives. The term also includes a subcontract for an amount exceeding the simplified acquisition threshold, except for a fixed-price subcontract without cost incentives under such a prime contract.

  • Service Contract means, with respect to a Financed Vehicle, the agreement, if any, financed under the related Receivable that provides for the repair of such Financed Vehicle.

  • Assumed Contract has the meaning set forth in Section 2.1(b)(iv).

  • Similar contract means Motor Vehicle.

  • Construction Contract or “contract” means a written agreement between a contractor and a public agency for the construction, alteration, demolition, or repair of a facility, other than a contract having a dollar value of less than $30,000.00 or a contract that provides for 3 or fewer payments.

  • Tax Service Contract As defined in Section 3.09(a).

  • Concession Contract means a contract for pecuniary interest concluded in writing between one or more economic operators and one or more contracting authorities within the meaning of Articles 168 and 172, in order to entrust the execution of works or the provision and management of services to an economic operator (the ‘concession’). The remuneration shall consist either solely in the right to exploit the works or services or in that right together with payment. The award of a concession contract shall involve the transfer to the concessionaire of an operating risk in exploiting those works or services encompassing demand risk or supply risk, or both. The concessionaire shall be deemed to assume an operating risk where, under normal operating conditions, there is no guarantee of recouping the investments made or the costs incurred in operating the works or the services at stake;

  • Bidder/Contractor means the interested Firm/ Company/ Supplier/ Distributors that may provide or provides related Equipment/Services to any of the public/private sector organization under the contract and have registered for the relevant business thereof.

  • Executory Contract means a contract to which one or more of the Debtors is a party that is subject to assumption or rejection under sections 365 or 1123 of the Bankruptcy Code.

  • Customer Contract means a Contract (or group of related Contracts) pursuant to which any Group Company, after giving effect to the Pre-Closing Business Transfers, licenses or otherwise provides products and services to customers of the Business.

  • O&M Contract means the operation and maintenance contract that may be entered into between the Concessionaire and the O&M Contractor for performance of all or any of the O&M obligations;

  • Construction Contracts means the contracts between Lessee and Contractors for the furnishing of labor, services or materials to the Leased Premises in connection with the construction of the Improvements.

  • Project Contract means any contract between the District or the Corporation and any contractor or vendor regarding the construction, production or other acquisition or installation of any part of an Acquisition Project.

  • Liquidated Contract means any defaulted Contract as to which the Servicer has determined that all amounts which it expects to recover from or on account of such Contract have been recovered; provided that any defaulted Contract in respect of which the related Manufactured Home and, in the case of Land-and-Home Contracts, Mortgaged Property, have been realized upon and disposed of and the proceeds of such disposition have been received shall be deemed to be a Liquidated Contract.

  • Multiyear contract means a contract that extends beyond a one-year period, including a contract that permits renewal of the contract, without competition, beyond the first year of the contract.