Examples of Special Zoning Site in a sentence
In the event that prior to a relevant Closing, Seller or Buyer discovers that a Site constitutes a Special Zoning Site, Seller or Buyer, as the case may be, shall promptly inform the other party that it considers such Site to be a Special Zoning Site, with reasonable specificity as to the reasons therefor.
If a Site is a Special Zoning Site, either Seller or Buyer may designate such Special Zoning Site as an Operated Site to be retained by Seller and operated by Buyer in accordance with the terms of the Master Operating Agreement, in which event, the Total Purchase Price shall be reduced by the Applicable Purchase Price for such Site.
If such other party does not object within 10 business days of receipt of such notice and reasons, to the designation of such Site as a Special Zoning Site, such Site shall be deemed to be a Special Zoning Site.
If, prior to the Closing with respect to a Site, the Verizon Parties or Acquiror become aware that a Site constitutes a Special Zoning Site (and such Site was not designated as a Special Zoning Site on the Site List), the Verizon Parties or Acquiror, as the case may be, shall promptly notify the other Parties in writing that it considers such Site to be a Special Zoning Site, with reasonable specificity as to the reasons therefor.
If a Site is designated as a Special Zoning Site on the Closing Site List, then such Site shall be deemed (a) in the case of an MPL Site that is a Special Zoning Site, a Conditional Site, and (b) in the case of a Sale Site that is a Special Zoning Site, a Non-Assignable Site, in each case until such time as the circumstances causing such Site to be a Special Zoning Site have been cured.
All disputes concerning the designation of a Site as a Special Zoning Site shall be resolved by arbitration as described in Section 3.4, it being agreed that the burden of proof shall fall on the party asserting the existence of a Special Zoning Site.
If such other Parties do not object within 10 business days of receipt of such notice, such Site shall be deemed to be a Special Zoning Site.