Examples of Funding III in a sentence
The Seller shall obtain executed release agreements and UCC partial releases with respect to the Receivables from (i) CarMax Funding II and the agent on behalf of the lenders or purchasers party to any warehouse financing document related thereto and (ii) CarMax Funding III and the agent on behalf of the lenders or purchasers party to any warehouse financing document related thereto, in each case in form and substance satisfactory to the Purchaser.
Accordingly, it is our opinion that Funding III, Funding IV and Funding V each had a reasonable basis for claiming partnership classification under the Prior Regulations.
The Funding III Agreement, the Funding IV Agreement and the Funding V Agreement (together, the "Funding Agreements") are substantially identical with respect to the terms discussed herein.
Retirement and Profit-Sharing ----------------------------------------------------- Program.
Accordingly, Funding III, Funding IV and Funding V each lacked the corporate characteristic of free transferability of interests.
Based on the continued organization and operation of each of Funding III, Funding IV and Funding V in accordance with its partnership agreement and the Act, Funding III, Funding IV and Funding V each lacked the corporate characteristics of continuity of life and free transferability of interests.
Although the Operating Partnership is a flow-through entity for purposes of section 1.7704-1(h)(3), we have assumed that the partners in the Operating Partnership will not be treated as partners in Funding III, Funding IV or Funding V for purposes of the 100 partner requirement, based upon your representation that neither Funding III, Funding IV nor Funding V will represent substantially all of the assets of the Operating Partnership.
The Seller shall obtain executed release agreements and UCC partial releases with respect to the Receivables from (i) Bank of America, N.A. (and certain other parties) and CarMax Funding II and (ii) Xxxxx Fargo Securities, LLC (and certain other parties) and CarMax Funding III, in each case in form and substance satisfactory to the Purchaser.
The Operating Partnership owns an approximately 99 percent interest in each of Funding III, Funding IV and Funding V as a limited partner.
The remaining approximately 0.9 percent general partner's interest in Funding III is owned by CRE Management III Corp., CRE Management IV Corp.