STATEMENT OF INTENT OF PARTIES Sample Clauses

STATEMENT OF INTENT OF PARTIES. It is the present intent of WPHC and Feld to jointly develop the Prxxxxt as the third phase leading to the eventual development of the Master Development. Due to the changes that may take place in the capital and real estate markets and other events, unknown at this time, which may alter either WPHC's or Feld's interest in or outlook ox xxxxre phases, no specific provision is made in this Agreement in regard to future phases. It is the present intent of the parties to use the basic economic and transaction structure of this Operating Agreement on future phases. However, either party may require changes or elect not to participate in the joint development of future phases. It is imperative to WPHC that it control the future of this development in regard to all issues, including timing, cost, design, etc. While this control is absolute, it is WRP's and Feld's present intent that Fxxx xxntinue as development xxxxner. Notwithstanding the foregoing statement of intent, the provisions of this Agreement and related documents governing the duties and relationships among the parties shall control over the foregoing statement of intent and neither party shall have any obligation, express or implied, to jointly develop another phase of the Master Development with the other party.
Sample 1
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STATEMENT OF INTENT OF PARTIES. It is the present intent of WPHC and Feld to jointly develop the Proxxxx and the Infrastructure as an initial phase leading to the eventual development of the Master Development. Due to the changes that may take place in the capital and real estate markets and other events, unknown at this time, which may alter either WPHC's or Feld's interest in or outlook ox xxxxre phases, no specific provision is made in this Agreement in regard to future phases. It is the present intent of the parties to use the basic economic and transaction structure of this operating agreement on future phases. However, either party may require changes or elect not to participate in the joint development of future phases. The Members acknowledge that Feld has diligently pursued the xxxchase of the Land and the development plan of the Land for a significant period and has agreed to WPHC's assumption of the Land Contract due to and in consideration of WPHC's and WRPT's financial commitment to the transaction. It is imperative to WPHC that it control the future of this development in regard to all issues, including timing, cost, design, etc. While this control is absolute, it is WRPT's and Feld's present intent that Xxxx continue as development xxxtner. Notwithstanding the foregoing statement of intent, the provisions of this Agreement and related documents governing the duties and relationships among the parties shall control over the foregoing statement of intent and neither party shall have any obligation, express or implied, to jointly develop another phase of the Master Development with the other party.
Sample 1

Related to STATEMENT OF INTENT OF PARTIES

  • Statement of Intent The Agent and each Noteholder intend that the Notes be classified and maintained as a grantor trust under subpart E, part I of subchapter J of chapter 1 of the Code that is a fixed investment trust within the meaning of Treasury Regulation §301.7701-4(c), and the parties will not take any action inconsistent with such classification. It is neither the purpose nor the intent of this Agreement to create a partnership, joint venture, “taxable mortgage pool” or association taxable as a corporation among the parties.

  • Intent of Parties The parties intend that each of REMIC I, REMIC II and REMIC III shall be treated as a REMIC for federal income tax purposes and that the provisions of this Agreement should be construed in furtherance of this intent.

  • Agreement of Parties The Seller and the Purchaser each agree to execute and deliver such instruments and take such actions as either of the others may, from time to time, reasonably request in order to effectuate the purpose and to carry out the terms of this Agreement and the Pooling and Servicing Agreement.

  • STATEMENT OF AGREEMENT The parties hereby acknowledge the accuracy of the foregoing Background Information and hereby agree as follows:

  • Termination by Mutual Agreement of the Parties Executive’s employment with the Company may be terminated at any time upon a mutual agreement in writing of the Parties. Any such termination of employment shall have the consequences specified in such agreement.

  • Final Agreement of the Parties THIS AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

  • Proof of Execution of Instruments Subject to Sections 6.1 and 6.2, the execution of any instrument by a Securityholder or his agent or proxy may be proved in accordance with such reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall be satisfactory to the Trustee.

  • Amendment of Material Documents No Loan Party will, nor will it permit any Subsidiary to, amend, modify or waive any of its rights under (a) any agreement relating to any Subordinated Indebtedness, or (b) its charter, articles or certificate of organization or incorporation and bylaws or operating, management or partnership agreement, or other organizational or governing documents, to the extent any such amendment, modification or waiver would be adverse to the Lenders.

  • AGREEMENT OF THE PARTIES The language used in this Agreement will be deemed to be the language chosen by the parties hereto to express their mutual intent, and no rule of strict construction will be applied against any party hereto. Neither Executive nor the Company shall be entitled to any presumption in connection with any determination made hereunder in connection with any arbitration, judicial or administrative proceeding relating to or arising under this Agreement.

  • Intent of the Parties The Borrower has structured this Agreement with the intention that the Loans and the obligations of the Borrower hereunder will be treated under United States federal, and applicable state, local and foreign tax law as debt (the “Intended Tax Treatment”). The Borrower, the Servicer, the Administrative Agent and the other Credit Parties agree to file no tax return, or take any action, inconsistent with the Intended Tax Treatment unless required by law. Each assignee and each Participant acquiring an interest in a Credit Extension, by its acceptance of such assignment or participation, agrees to comply with the immediately preceding sentence.

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