Examples of Entitlement Business Plan in a sentence
If the Executive Committee calls for any additional Capital Contribution during the Entitlement Stage (i) to further the purposes of the Entitlement Stage Business, (ii) to make Centennial RWA Reimbursements, or (iii) to implement the Entitlement Business Plan (collectively, the “Remaining Entitlement Period Contributions”), then each Funding Member shall be required to contribute such Member’s then Percentage Interest of the applicable Total Call Amount.
The Members shall use their diligent and good faith efforts to agree upon cost sharing arrangements involving the Company and the Balance of the Ranch for the construction of the Improvements as shall be more fully set forth in the Entitlement Business Plan and the Development Business Plan.
The initial Development Business Plan shall be Approved in writing by the requisite Members in accordance with this Agreement prior to commencement of the Development Stage and shall replace the Entitlement Business Plan.
During the Feasibility Stage, the Feasibility Stage Business was conducted in accordance with that certain business plan (the “Feasibility Business Plan”), which was Approved prior to the Effective Date in accordance with the Original LLC Agreement and was replaced and superseded in its entirety by the Entitlement Business Plan.
During the Entitlement Stage and Development Stage, DMB shall make additional Capital Contributions in an aggregate total amount up to One Hundred Million Dollars ($100,000,000) as and when necessary to fund the operations of the Company in accordance with the Entitlement Business Plan and the Development Business Plan or as otherwise Approved by the Executive Committee (“DMB Mandatory Additional Contributions”).
The Members hereby acknowledge that the Feasibility Analysis has been completed, the Master Conceptual Plan has been unanimously Approved by the Members, the Members have Approved the initial Entitlement Business Plan, as subsequently amended, and the Company is currently engaged in the Entitlement Stage Business.
The business of the Company currently includes (i) the pursuit of Entitlements for the Master Project in accordance with the Entitlement Business Plan and (ii) all other activities incidental to, or necessary or convenient in furtherance of, the Entitlement Stage Business as Approved by the Executive Committee (collectively, the “Entitlement Stage Business”).
During the Entitlement Stage, DMB shall make additional Capital Contributions in an aggregate total amount of up to Thirty Million Dollars ($30,000,000) as and when necessary to fund the operations of the Company in accordance with the Entitlement Business Plan or as otherwise Approved by the Executive Committee (collectively, "DMB Threshold Entitlement Contributions").
Once DMB has funded the entire DMB Threshold Entitlement Contributions, DMB shall fund pari passu with Tejon pursuant to Section 4.4M fifty percent (50%) of all amounts necessary to fund the operations of the Company in accordance with the Entitlement Business Plan and the Development Business Plan or as otherwise Approved by the Executive Committee.
The Entitlements shall be substantially consistent with the goals stated in the Entitlement Business Plan.