KRG » Topics » 6 .1. Conditions Precedent to Purchasers Obligations

This excerpt taken from the KRG 10-Q filed May 26, 2005.
6.1.         Conditions Precedent to Purchaser’s Obligations.  The obligations of Purchaser hereunder to consummate the transaction contemplated hereunder shall in all respects be conditioned upon the satisfaction of each of the following conditions prior to or simultaneously with the Closing, any of which may be waived by Purchaser in its sole discretion by written notice to Seller at or prior to the Closing Date:

 

(a)           Seller shall have delivered to Purchaser all of the items required to be delivered to Purchaser pursuant to the terms of this Agreement, including, but not limited to Section 5.1 hereof;

 

(b)           Seller shall have performed, in all material respects, all covenants, agreements and undertakings of Seller contained in this Agreement;

 

(c)           All representations and warranties of Seller as set forth in this Agreement shall be true and correct in all material respects as of the date of this Agreement and as of Closing, provided that solely for purposes of this subparagraph such warranties and representations shall be deemed to be given without being limited to Seller’s knowledge and without modification (by update or otherwise, as provided in Section 5.1(i) hereof); and

 

(d)           Tenant Estoppel Certificates shall have been delivered to Purchaser from: HEB (the “Anchor Tenant”), in the form that said tenant is obligated to deliver pursuant to its lease;

 

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and (z) tenants occupying not less than eighty-five percent (85%) of the remaining occupied, aggregate net rentable square footage of all of the Improvements located on the Property.  Each Tenant Estoppel Certificate shall: (i) be substantially in the form attached hereto as

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