Item 1.01. Entry into a Material Definitive Agreement.
The Agreement is subject to approval by the holders of a majority of the outstanding units of limited partnership interests of the Company and the Partnerships, as well as other conditions to closing; therefore, there can be no assurance that the transactions contemplated by the Agreement will be successfully completed. Under the Agreement, the Company and the Partnerships will be paid in cash for the sale of the Properties at various closing dates following the receipt of limited partner consent. If the Company or any of the Partnerships do not approve the Agreement, Strategic will have the option to terminate the Agreement without penalty.
The Company and the Partnerships will commence the solicitation of limited partners written consent without a meeting as soon as definitive proxy statements are completed and filed with the
This Form 8-K contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The most significant among these risks and uncertainties are: (i) the ability of the Company to obtain written consent of the limited partners to approve the Agreement; (ii) the approval of the Agreement by the limited partners of the Partnerships; and (iii) the Company's ability to meet the various conditions to the sale of the Properties under the Agreement. The cautionary statements provided above are being made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995 (the "Act") and with the intention of obtaining the benefits of the "safe harbor" provisions of the Act for any such forward-looking information. Additional risks that may affect the Company's future performance are detailed in the Company's filings with the
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Exhibit Description 10.1 Purchase and Sale Agreement dated
July 7, 2014, as amended.