ROFO Property definition

ROFO Property. As defined in Section 10(a).
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ROFO Property means (i) any Single-Tenant, Net Leased Property owned by CTO or any of its Affiliates as of the closing date of the IPO that is not a part of the Initial Portfolio and (ii) any Single-Tenant, Net Leased Property that is developed and owned by CTO or any of its Affiliates after the closing date of the IPO.
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ROFO Property. As defined in Schedule 17.1(i).
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Examples of ROFO Property in a sentence

  • On the date hereof, the Company and CTO have entered into the Exclusivity and ROFO Agreement, which, among other things, governs the circumstances under which CTO and its Affiliates must offer to the Company the opportunity to acquire a ROFO Property (as defined in the Exclusivity and ROFO Agreement).

  • In the event AIR exercises its ROFO and the Parties proceed to a sale of the ROFO Property, AIR shall be required to make an xxxxxxx money deposit (the “ROFO Deposit”) in an amount equivalent to three percent (3%) of the ROFO Purchase Price (as defined below).

  • Each Party agrees to cooperate and to take all actions and execute all documents reasonably necessary or appropriate to reflect the acquisition of the ROFO Property by AIR (or its designee).

  • If required by AIR, all contracts and agreements between DevCo and any of its Affiliates in respect of the ROFO Property shall be terminated effective as of the ROFO Closing Date.

  • The Parties shall apply the closing mechanics set forth in Section 10(b) above (as if the Option Property were a ROFO Property, for such purposes).

  • If the Current Year Taxes with respect to any ROFO Property or Option Property related to the applicable ROFO/Option Closing have not been set as of the date thereof, the present tax rate and the most recent assessed valuation for the subject property shall be used for the purposes of making the adjustments at such ROFO/Option Closing under this paragraph and the Parties shall re-prorate within thirty (30) days following receipt of the actual final tax xxxx.

  • The ROFO Deposit shall be delivered within five (5) Business Days following the delivery of the Acceptance Notice, by transfer of immediately available funds to a national title insurance company reasonably acceptable to DevCo, who shall perform the services of escrow agent for the closing of the ROFO Property.

  • If AIR timely delivers a written notice to DevCo that it will proceed with the transfer of the ROFO Property (an “Acceptance Notice”), DevCo may designate AIR (or AIR’s designee) to take title to such ROFO Property on DevCo’s behalf directly as DevCo’s designee concurrently with what would have been the consummation of DevCo’s acquisition of such ROFO Property.

  • All other costs shall be borne by the Party who customarily bears such costs in the city and state in which the ROFO Property is located.

  • The ROFO Purchase Price shall be paid in immediately available funds and DevCo shall convey good and marketable title (or other valid interests held by DevCo) in the subject ROFO Property to AIR or its designee free and clear of all liens and encumbrances.


More Definitions of ROFO Property

ROFO Property shall have the meaning set forth in Section 6.12(a).
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ROFO Property. (i) "ROFO Seller" 6.13(g)(i) "SEC" 3.6 "Security Deposits"
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ROFO Property has the meaning set forth in Section 17.4.
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ROFO Property means any property listed on Exhibit B hereto.
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ROFO Property shall have the meaning ascribed to such term in Section 3Q. "S&P" shall have the meaning ascribed to such term in Section 3F(iii).
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Related to ROFO Property

  • Hotel Property means a Property on which there is located an operating hotel.

  • New property means (i) the assessed value, after final

  • Adjacent Property means all land adjoining and surrounding the Stadium Site on which will be located any public streets, sidewalks, plazas, or bridges and any public or private parking facilities or other accoutrements to be developed by Authority or other parties in connection with the Project.

  • Substitute Property shall have the meaning set forth in Section 2.6 hereof.

  • Common Property means any and all real and personal property and easements and other interests therein, together with the facilities and improvements located thereon, now or hereafter owned by the Association for the common use and enjoyment of the Owners.

  • Subject Property means any premises located in the County on which an energy efficiency improvements, water efficiency improvements, or renewable resource applications are being or have been made and financed through an outstanding PACE loan.

  • Unimproved Real Property means Property in which the Company has an equity interest that was not acquired for the purpose of producing rental or other operating income, that has no development or construction in process and for which no development or construction is planned, in good faith, to commence within one (1) year.

  • Public Property means any and all property owned by the City or held in the name of the City by any of the departments, commissions or agencies within the City government.

  • Leasehold condominium means a condominium in which all or a portion of the real estate is subject to a lease the expiration or termination of which will terminate the condominium or reduce its size.

  • Qualified Property has the meaning set forth in Section 313.021(2) of the TEXAS TAX CODE and as interpreted by the Comptroller’s Rules and the Texas Attorney General, as these provisions existed on the Application Review Start Date.

  • Abandoned property means personal property left by an owner who intentionally

  • Partnership Property means any property, real, personal or mixed, or any interest therein or appurtenant thereto which may be owned or acquired by the Partnership.

  • Condominium Property means the lands, leaseholds, and personal property that are subjected to condominium ownership, whether or not contiguous, and all improvements thereon and all easements and rights appurtenant thereto intended for use in connection with the condominium.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Rental Property means a hotel room, vacation home, or other rental property You booked for Your stay during Your Trip.

  • Undeveloped Property means all Assessor’s Parcels of Taxable Property which are not Developed Property.

  • Common Properties means and refer to those areas of land shown on any recorded subdivision plat of The Properties and intended to be devoted to the common use and enjoyment of the owners of The Properties.

  • adjacent land means all land that borders a property and all land that would have bordered a property, if they were not separated by a river, road, railway line, power transmission line, pipeline, or a similar feature;

  • Mixed-use property means an eligible property that includes three or more residential units and may also contain a commercial property component in the same building.

  • Improved Property means any property upon which there is erected a structure intended for continuous or periodic habitation, occupancy or use by human beings or animals and from which structure Sanitary Sewage and/or Industrial Wastes shall be or may be discharged.

  • Leasehold Property means any leasehold interest of any Credit Party as lessee under any lease of real property.

  • Mining Property means a property used for mining operations as defined in the Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002);

  • Unimproved Land means land on which no development (other than improvements that are not material and are temporary in nature) has occurred.

  • Foreclosed Property The Property or other Collateral securing the Mortgage Loan, title to which has been acquired by the Special Servicer on behalf of the Trust and the Companion Loan Holders through foreclosure, deed in lieu of foreclosure or otherwise in the name of the Trustee or its nominee.

  • Specified Property means property for which an election has been made for a special elective benefit.

  • Loan Property means any property in which the applicable party (or a subsidiary of it) holds a security interest and, where required by the context, includes the owner or operator of such property, but only with respect to such property.