Examples of BREDS Representative in a sentence
The iStar Representative and the BREDS Representative will have 15 Business Days from the date of their receipt of the draft budget to approve such draft budget, in their reasonable discretion, by the written consent of both the iStar Representative and the BREDS Representative.
Each BREDS Group Holder hereby agrees to receive correspondence from the BREDS Representative, including in electronic form.
Any amounts requested by the iStar Representative or the BREDS Representative (on behalf of itself or any other Indemnifiable Party) and not paid within 10 Business Days of receipt of notice by the General Partner shall accrue interest at a rate of 20% per annum, compounded quarterly.
Any amounts requested by the iStar Representative or the BREDS Representative (on behalf of itself or any other Indemnifiable Party) and not paid within 10 Business Days of receipt of notice by the Corporation shall accrue interest at a rate of 20% per annum, compounded quarterly.
To the extent prepared by the Corporation, the Corporation will provide the iStar Representative and the BREDS Representative with copies of the asset review prep sheets customarily prepared by the Corporation within 10 Business Days after they are prepared by the Corporation.
So long as no Event of Default exists, the General Reserve Funds may be used by the General Partner and its Component Entities to pay for expenses set forth in the Approved Budget or otherwise jointly approved by the iStar Representative and the BREDS Representative in writing (“Approved Expenses”).
In iStar’s sole discretion, iStar may designate a new “iStar Representative” by delivering written notice of such designation to the Corporation and the BREDS Representative and, upon receipt of such written notice and an acknowledgment from such Person of its desire to serve as the “iStar Representative,” such Person shall automatically be appointed the “iStar Representative” without further act of the Corporation or of any stockholder of the Corporation.
A copy of any and all correspondence delivered pursuant hereto (i) by the iStar Representative to the Corporation on behalf of the iStar Group Holders shall be contemporaneously delivered to the BREDS Representative and (ii) by the BREDS Representative to the Corporation on behalf of the BREDS Group Holders shall be delivered to the iStar Representative.
If at any time a vacancy occurs on the Board with respect to the directorship of a member of the Board who is a BREDS Director, the BREDS Representative shall have the right to designate the replacement director, and the Company and the other Parties hereby agree to take all actions necessary to cause, and not to take any action that interferes or would reasonably be expected to interfere with, the election of such designee to fill such vacancy.
In all questions arising in respect of its actions or omissions, the BREDS Representative may rely on the advice of counsel, and the BREDS Representative shall not be liable to the Corporation, the BREDS Group Holders or any other Person for anything done, omitted or suffered in good faith by the BREDS Representative based on such advice.