Impound Release Date definition

Impound Release Date shall have the meaning set forth in Section 3.1.5.
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Impound Release Date shall have the meaning set forth in Section 3.1.5. “Initial Member” shall refer to Triple Net Properties, LLC, in its capacity as a member of the Company. “Interest” or “Interests” shall mean a Membership Interest or an Economic Interest. “Investor Unit” shall represent an interest in the Company entitling the owner of the Investor Unit if admitted as a Member to the respective voting and other rights afforded to a Member holding an Investor Unit, and affording to such Member a share in Net Income, Net Loss and Distributions as provided for in this Agreement. “Lender” or “Lenders” means any or all (as applicable) of Fleet National Bank, Agent and Fleet Real Estate, Inc., d/b/a Trisail Funds, Agent, and either of their successors and assigns. “Liquidation” means in respect to the Company the earlier of the date upon which the Company is terminated under Section 708(b)(1) of the Code or the date upon which the Company ceases to be a going concern (even though it may exist for purposes of winding up its affairs, paying its debts and distributing any remaining balance to its Members), and in respect to a Member where the Company is not in Liquidation means the date upon which occurs the termination of the Member’s entire interest in the Company by means of a distribution or the making of the last of a series of Distributions (whether or not made in more than one year) to the Member by the Company. “Loans” means those loans to Congress Center, LLC and certain other tenants-in-common in the principal amounts of $90,000,000 and $15,000,000 from the Lender(s). “Loan Documents” means the joinder agreement between the Company and the Lenders, the ownership interests pledge and security agreements, the guaranty agreements and any and all documents related thereto. “Management Agreement” shall refer to the Management Agreement between the Property Manager, as property manager, and the tenants-in-common, with respect to the management and operation of the Property. “Manager” means the persons designated as managers of the Company from time to time. The initial manager of the Company is Triple Net Properties, LLC, a Virginia limited liability company. A Manager is hereby designated as a “manager” of the Company within the meaning of Section 18-101(10) of the Act. “Member” shall mean any holder of an Investor Unit who is admitted to the Company as a Member, in such Person’s capacity as a member of the Company. “Member Minimum Gain” shall mean “partner nonrecourse debt mi...
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Impound Release Date shall have the meaning set forth in Section 3.1.5. “Interest” shall mean a Membership Interest or an Economic Interest.
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Examples of Impound Release Date in a sentence

  • After the Impound Release Date, any additional Subscription Payments received (a) for Investor Units shall be sent directly to and retained by the Company.

  • After acceptance of any tendered Subscription Agreement by the Company, the accompanying Subscription Payment shall, prior to the Impound Release Date, be placed in an interest-bearing escrow account ("Depository Account") at a bank or financial institution selected by the Manager in California for Investor Units and held there until such time ("Impound Release Date") as $1,000,000 in the aggregate of good or collected Subscription Payments for Investor Units have been deposited.

  • Funds in the Depository Account shall be released to the Company on the Impound Release Date.

  • After acceptance of any tendered ------------------ Subscription Agreement by the Company, the accompanying Subscription Payment shall, prior to the Impound Release Date, be placed in an interest-bearing escrow account ("Depository Account") at a bank or financial institution selected by the Manager in California for Investor Units and held there until such time ("Impound Release Date") as $500,000 in the aggregate of good or collected Subscription Payments for Investor Units have been deposited.

  • Upon acceptance by the Company of each Subscription Agreement, the accompanying Subscription Payment shall be placed in an interest-bearing escrow account ("Depository Account") at a bank or financial institution selected by the Manager, in its sole and absolute discretion, and held there until such time ("Impound Release Date") as $5,000,000 in the aggregate of collected Subscription Payments have been deposited.

  • After the Impound Release Date, any additional Subscription Payments received for Investor Units shall be sent directly to, and retained by, the Company.

  • After the Impound Release Date, any additional Subscription Payments received for Investor Units shall be sent directly to and retained by the Company.

Related to Impound Release Date

  • Earned release means earned release from confinement as

  • Collateral Release Date has the meaning given that term in Section 8.10.(b).

  • Escrow Release Date has the meaning set forth in the Escrow Agreement.

  • Restriction Release Date means such date, after the Effective Date, that the Board of Directors determines in good faith that it is in the best interests of the Corporation and its stockholders for the transfer restrictions set forth in this Article 4 to terminate.

  • Release Deadline means the deadline prescribed by Employer for the execution of the general release described in this paragraph (d)(2) of Section 7, which deadline shall in no event be later than 60 days following the date Executive’s employment terminates;

  • Collateral Release Period means, each period commencing with the occurrence of a Collateral Release Event and continuing until the occurrence of the next Collateral Reinstatement Event, if any, immediately following such Collateral Release Event.

  • Pre-Release shall have the meaning set forth in Section 2.09.

  • Release of Claims means the Release of Claims in substantially the same form attached hereto as Exhibit A (as the same may be revised from time to time by the Company upon the advice of counsel).

  • Release Amount means, for a Property, the following applicable amount together with any other amounts specified in Section 2.4.4:

  • Release Date means the date on which the Initial Shares are disbursed from escrow pursuant to Section 3 of that certain Stock Escrow Agreement dated as of the date hereof by and among the Investors and Continental Stock Transfer & Trust Company.

  • Conditional release means a revocable modification of a

  • Waiver and Release means the Waiver and Release attached hereto as Exhibit A.

  • Separation Payment means any lump sum cash payment in excess of Earned Salary and Accrued Obligations payable to Employee under this Agreement.

  • lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.

  • Release Period means the period specified in paragraph 3(d) of the letter of consent.

  • Release Agreement means an agreement, substantially in a form approved by the Company, pursuant to which Executive releases all current or future claims, known or unknown, arising on or before the date of the release against the Company, its subsidiaries and its officers.

  • Escrow Release Conditions means, collectively, the conditions set forth in Section 4.3.

  • Running Account Bill means a bill for the payment of "On Account" money to the Contractor during the progress of work on the basis of work done and the supply of non-perishable materials to be incorporated in the work.

  • Required Reserve Fund Deposit With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Aggregate Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date; provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of Offered Certificates, the Class B1 Certificates and the Class B2 Certificates has been reduced to zero, the Required Reserve Fund Deposit shall be zero.

  • Qualified escrow fund means an escrow arrangement with a federally or state-chartered financial institution having no affiliation with any tobacco product manufacturer and having assets of at least one billion dollars where such arrangement requires that such financial institution hold the escrowed funds’ principal for the benefit of releasing parties and prohibits the tobacco product manufacturer placing the funds into escrow from using, accessing, or directing the use of the funds’ principal except as consistent with section 453C.2, subsection 2, paragraph “b”.

  • Benefits Continuation Period has the meaning set forth in Section 6.01(b).

  • Rollover Notification Date shall be defined as set forth in the Prospectus under "Summary of Essential Information."

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

  • Release Request has the meaning set forth in Section 2.1.

  • Threatened Release means a substantial likelihood of a Release which requires action to prevent or mitigate damage to the soil, surface waters, groundwaters, land, stream sediments, surface or subsurface strata, ambient air or any other environmental medium comprising or surrounding any Property which may result from such Release.

  • Escrow Termination Date has the meaning ascribed to such term in Section 9.12.