CNL Partners definition
Examples of CNL Partners in a sentence
Unless otherwise provided herein, any distributions or allocations that are made to the CNL Partners shall be made between the CNL Partners in the same ratio that the Percentage Interest of each CNL Partner bears to the Percentage Interests of all CNL Partners.
Subject to and upon the terms and conditions contained herein, the Lender will make available to the Borrower a loan in the principal amount of $2,280,000 for the purpose of assisting the Borrower to finance the acquisition of the Commercial Properties; provided that CNL Partners concurrently makes an advance of the CNL First Tier Loan to the Borrower in the amount of $8,820,000 for such purpose.
Each of CNL Partners and CNL Resort is a partnership for purposes of federal income taxation and for purposes of the tax laws of any state or locality in which it is subject to taxation based on its income.
For purposes of this Section 11.1, the CNL Partners shall be treated collectively as the Initiating Partner, Recipient Partner, buying Partner and/or selling Partner, as applicable.
If GW LP breaches the terms of this Section 8.10 and such breach is not cured within five (5) Business Days after notice thereof is provided by the CNL Partners to GW LP, then GW LP will no longer have any rights under this Section 8.10 with respect to the subject purchase and sale transaction.
In no event shall CNL apply CNL Investment Funds to other investments or transactions of CNL or its Affiliates prior to the date the CNL Partners fully fund their respective shares of the WTC Capital Contribution.
The amount of such closing costs paid for by the CNL Partners as of the Closing was $806,464 and will be deemed to be a Capital Contribution by the CNL Partners to the Partnership.
If, at any time on or after the fifth anniversary date of this Agreement, CNL Partners desire to cause the Subsidiaries to market the Project for sale to third parties, CNL Partners shall give written notice thereof to C▇▇▇ ▇▇ (“Sale Notice”) and the provisions of this Article 12 shall govern.
The CNL Partners will provide notice to GW LP of any such proposed purchase and, in order to participate, GW LP must provide notice of its election to participate to the CNL Partners within fifteen (15) Business Days after its receipt of the notice from the CNL Partners.
A decision by CNL Partners to offer the Project for sale or a sale of the Project in accordance with this Article 12 shall not constitute a Major Decision and shall not be subject to the approval of members of the Management Board appointed by C▇▇▇ ▇▇ so long as the requirements in this Article 12 have been complied with.