Presentation to EOP Sample Clauses

Presentation to EOP. It is contemplated that at the time the Board first approves an investment in an Opportunity, and that Opportunity therefore becomes an Approved Project, it may not be known at that time whether and to what extent additional equity capital (in excess of what the Company will invest) will be needed for the Approved Project. However, at such time as the Manager reasonably deems appropriate and before any equity capital other than Company equity is solicited for investment in the Project Entity for the Approved Project, the Manager will submit the investment Opportunity to EOP (the "EOP INVESTMENT DETERMINATION"), providing EOP with (i) the amount of equity (the "SPECIFIED EQUITY") requested of EOP (which shall be Manager's best estimate of 60% (or such greater percentage as the Board may determine (in the sole and absolute discretion of each Board Member) for any Project) (in either event, the "SPECIFIED EQUITY PERCENTAGE"), of the total equity required for the Project), (ii) the then-current approved budget and pro forma for the Project and (iii) the related Project Approval Items, for EOP to determine whether EOP desires to provide the Specified Equity for the Approved Project. EOP will deliver notice of its determination whether to provide such equity in writing within 30 days after the foregoing have been submitted to EOP, and EOP will be deemed to have elected not to make the requested equity investment in the Project Entity unless it elects in writing to commit to this investment within this period.
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