Rejected Property definition

Rejected Property means, collectively, the Station Properties rejected (a) by Buyers and removed from the Assets pursuant to the terms and conditions of this Agreement, including Section 5.4(d) , Section 5.5(d) , Section 5.6(b) , Section 5.6(c) , Section 5.9(a) , Section 5.9(b) , Section 5.9(c) , Section 6.8(b) or Section 6.9 (b) by Sellers and removed from the Assets pursuant to the terms and conditions of this Agreement, under Section 5.5(d) or Section 5.18 , or (c) if a third party exercises a ROFR in respect of any Real Property, and removed from the Assets pursuant to the terms and conditions of this Agreement, under Section 5.6(e) .
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Rejected Property has the meaning set forth in Section 2.1(a).
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Rejected Property means, collectively, the Station Properties rejected by Buyers and removed from the Assets pursuant to the terms and conditions of this Agreement, including Section 2.8(b), Section 5.6(c), Section 5.7(b), Section 5.7(c), Section 5.7(e), Section 5.8(a), Section 6.6(b)(ii) and Section 6.7.
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Examples of Rejected Property in a sentence

  • If Seller and Buyer cannot agree upon such a downward adjustment within a reasonable period (not to exceed ten (10) days from the date Buyer receives notice of the loss) Buyer may remove such Rejected Property from this Agreement as provided above.

  • Following the Closing, the Parties shall use commercially reasonable efforts and cooperate with each other to obtain any Lease Consent, Contract Consent or Lease Amendments that has not yet been obtained and is not associated with a Rejected Property as soon as practicable; provided, however, that none of Sellers nor Buyers shall be required to make any payments to any Person or make any other economic concession to permit Sellers to obtain any Lease Consent, Contract Consent or Lease Amendments.

  • Buyers shall transfer and convey to Sellers all such Fuel Inventory, Non-Fuel Inventory and ▇▇▇▇▇ Cash in respect of such Rejected Property upon receipt of such payment in accordance with this Section 2.5(f).

  • The foregoing restrictions shall not apply to any property after it has become a Rejected Property.

  • If Seller and Buyer cannot agree upon such a downward adjustment within a reasonable period (not to exceed ten (10) days from the date Buyer receives notice of the loss), Buyer may remove such Rejected Property from this Agreement as provided above.

  • In the event of any Risk of Loss Event prior to ▇▇▇, Buyer may, at Buyer’s sole option, by written notice to Seller and Escrow Agent, remove such Property from this Agreement as set forth in Section 6(b) above (each, a “Rejected Property”) and the Purchase Price shall be reduced by the amount corresponding to such Rejected Property as set forth in Exhibit A attached hereto, and this Agreement shall continue in full force and effect with respect to all remaining Properties.

  • From time to time Parent shall reimburse Owner for its out-of-pocket Due Diligence Costs with respect to a Property (including any Rejected Property) at the earlier to occur of the land bank closing of that Property or within fifteen (15) business days of Owner's delivery of a Due Diligence Cost invoice to Parent.

  • If Sellers reject such cure, then Buyers may elect to treat such Station Property(ies) as a Rejected Property.

  • During the Master Agreement Investment Period, Owner shall have the continuing right to review and evaluate for admission into the SPV-1 Program each of the Properties listed on the Master Lists, which are not an Excluded Property or a Rejected Property (as such terms are defined in Exhibit A attached hereto).

  • In the event of any Risk of Loss Event prior to ▇▇▇, Buyer may, at Buyer’s sole option, by written notice to Seller and Escrow Agent, remove the affected Property from this Agreement as set forth in Section 6(b) above (each, a “Rejected Property”) and the Purchase Price shall be reduced by the amount corresponding to such Rejected Property as set forth in Exhibit A attached hereto, and this Agreement shall continue in full force and effect with respect to all remaining Properties.


More Definitions of Rejected Property

Rejected Property means, collectively, the Station Properties rejected (a) by Buyers and removed from the Assets pursuant to the terms and conditions of this Agreement, including Section 5.4(d), Section 5.5(d), Section 5.6(b), Section 5.6(c), Section 5.9(a), Section 5.9(b), Section 5.9(c), Section 6.8(b) or Section 6.9 (b) by Sellers and removed from the Assets pursuant to the terms and conditions of this Agreement, under Section 5.5(d) or Section 5.18, or (c) if a third party exercises a ROFR in respect of any Real Property, and removed from the Assets pursuant to the terms and conditions of this Agreement, under Section 5.6(e).
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Rejected Property has the meaning set forth in Section 4.9. 6629923v2
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Rejected Property means any of the Properties for which the relevant Purchase and Sale Agreement is terminated by Patriot OP pursuant to Section 2.4(a) thereof and, upon the rejection of a Property, this Agreement shall be inapplicable to such Rejected Property except as set forth in Section 6.10.
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Rejected Property shall have the meaning ascribed thereto in Section 10.3 of this Agreement.
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