Examples of Contribution Right in a sentence
As a condition to the Operating Partnership's obligation to complete the acquisition of any Contributor's Interests after the exercise of the Contribution Right, such representations and warranties must continue to be true as of the date of the Initial Closing and as of the date of the Final Closing.
In connection with each permitted Contribution Right exercise, the Member exercising such right shall send written notice ("Contribution Notice") of such exercise and the dollar amount required to be contributed to the other Member.
If ITT MSG exercises the Contribution Right, Cablevision agrees to cause its Affiliates to consummate the Mandatory Contribution.
Each party shall use all reasonable efforts to cause the Voluntary Contribution to occur on the Initial Closing Date or as soon as reasonably practicable thereafter and the Mandatory Contribution to occur as soon as practicable following the exercise by ITT MSG of the Contribution Right.
Also, each of Icahn and Macklowe shall be entitled, from time to time, to make an Additional Capital Contribution to the Partnership (the "Contribution Right"), provided the aggregate of all Additional Capital Contributions contributed by such General Partner to the Partnership from the date of the last in time Commitment Letter does not exceed the Additional Capital Commitment of such General Partner set forth in such Commitment Letter.
Under no circumstances shall either Member be required to contribute more than Five Thousand Dollars ($5,000) in the aggregate to the capital of the Company in any calendar year whether by reason of Contribution Right exercises or otherwise.
The Operating Partnership agrees to pay all of the closing costs, other than Contributor's legal fees, arising from the transfer of the Interests of each Contributor pursuant to the exercise by the Operating Partnership of its Contribution Right, including, without limitation, any applicable transfer, gains and sales taxes and any transfer fee due in connection with the assumption of existing mortgage debt by the Operating Partnership.
The GS Investors may exercise the Contribution Right by delivering a written notice to the Company of the GS Investors' intent to make Capital Contributions in accordance with the terms of such notice.
In the event a Member exercises its Contribution Right pursuant to this Section 4.2(c)(1) and the Managing Member does not or is unable to purchase the Class A Units pursuant to Section 4.2(c)(2), the Member and the Managing Member shall treat the contribution as a contribution under Section 721 of the Code and the Managing Member shall apply the remedial method under Section 704(c) of the Code with respect to such contribution.
Upon a contribution by an unaffiliated Third Party approved by the Board of Directors of the Management Company or an assignee of all or part of the SKT Contribution Right for amounts in excess of the SKT Triggering Contribution (each, a “New Member”), the Operating Company is authorized to (i) issue such number of Membership Units as determined by the Board of Directors of the Management Company, and (ii) admit such Person as a New Member of the Operating Company.