Examples of Seller Letter in a sentence
Seller shall have the right in its sole discretion to post a Seller Letter of Credit or a Seller Guaranty (or a combination thereof) for its security posting obligations under this Section 16.1 so long as such security meets the requirements for such security set out in this Article 16.
If the Seller Guarantor ceases to be an Acceptable Guarantor, then Seller shall be required to either (i) provide a replacement Seller Guaranty from a different Acceptable Guarantor, or (ii) replace the Seller Guaranty provided by the unqualified Seller Guarantor with a Seller Letter of Credit meeting the criteria set forth in this Article 16, in each case, no later than ten (10) Business Days after such the Guarantor ceases to be an Acceptable Guarantor.
Amounts drawn pursuant to Section 16.2(iii) and (iv) may be applied to amounts owed under Section 16.2(i) and (ii) and shall otherwise be held in an interest bearing escrow account and returned to Seller upon Seller’s replacement of such Seller Letter of Credit or Seller Guaranty with a replacement Seller Letter of Credit or Seller Guaranty meeting the requirements of Section 16.1.
From the date of first notice to the Lessor, the Lessee has 60 days to arrive at a proposed sale price based on the formula and process described in Section 5.7. When the buildings have been appraised and a sale price has been established using the process described in Section 5.7, the Lessee shall send to the Lessor the Seller Letter, a template for which shall be provided to the Lessee by the Lessor, with the offered sale price.
A copy of the appraiser’s completed and signed Appraisal Form shall be included with the Seller Letter when sent to the Lessor.
The Lessor may then exercise the First Option to Purchase at the offer price in the Seller Letter.
From the date of receipt of the Seller Letter, the Lessor has 60 days to A.) Accept the offer to purchase at the offered price, B.) Make a counter offer based on additional appraisals, or C.) Release the option.
For Acquisition Projects)Acquisition Schedule, Parcel Map, Willing Seller Letter.
The Purchaser shall not be entitled to draw from the Seller Letter of Credit any amounts shown in an invoice or demand delivered to the Seller that have been disputed by the Seller until such disputes are resolved in accordance with Article XVIII.
If the Seller provides a replacement or substitute Seller Letter of Credit satisfactory to the Purchaser, the Purchaser shall return the original Seller Letter of Credit within five (5) Business Days after receipt by the Purchaser of such replacement.