Work in Progress. If the Company is dissolved for any reason while there is development or construction work in progress, winding up of the affairs and termination of the business of the Company may include completion of the work in progress to the extent the Parties who have not defaulted under their obligations under the Agreement, may determine the same to be necessary to permit a sale or other disposition of the Projects which is most beneficial to the Parties.
Appears in 2 contracts
Samples: Joint Venture Agreement (Chelsea Gca Realty Inc), Joint Venture Agreement (Chelsea Gca Realty Partnership Lp)
Work in Progress. If the Company is dissolved for any reason while there is development or construction work in progress, winding up of the affairs and termination of the business of the Company may include completion of the work in progress to the extent the Parties who have not defaulted under their obligations under Members or Non- Defaulter, as the Agreementcase may be, may determine the same to be necessary to permit a sale or other disposition of the Projects Project which is most beneficial to the PartiesMembers.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Chelsea Gca Realty Partnership Lp), Limited Liability Company Agreement (Chelsea Gca Realty Inc)
Work in Progress. If the Company is dissolved for any reason while there is development or construction work in progress, winding up of the affairs and termination of the business of the Company may include completion of the work in progress to the extent the Parties who have not defaulted under their obligations under Members or non-defaulting Member, as the Agreementcase may be, may determine the same to be necessary to permit a sale or other disposition of the Projects Project which is most beneficial to the PartiesMembers.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Chelsea Gca Realty Inc)
Work in Progress. If the Company is dissolved for any reason while there is development or construction work in progress, winding up of the affairs and termination of the business of the Company may include completion of the work in progress to the extent the Parties who have not defaulted under their obligations under Members or non-defaulting Member, as the Agreementcase may be, may determine the same to be necessary to permit a sale or other disposition of the Projects Property which is most beneficial to the PartiesMembers.
Appears in 1 contract
Samples: Limited Liability Company Agreement (CNL Hospitality Properties Inc)
Work in Progress. If the Company is dissolved for any reason while there is work in progress on the development or construction work in progressof the Project or otherwise with respect to the Property, winding up of the affairs and termination of the business of the Company may include completion of the work in progress to as the extent the Parties who have not defaulted under their obligations under the Agreement, Members may determine the same to be necessary to bring the matters under construction to a state of completion convenient to permit a sale or other disposition of the Projects which is most beneficial to the PartiesCompany's interest in such work.
Appears in 1 contract
