Examples of Project LLC Agreement in a sentence
The sole purpose of preparing and recording this Memorandum is to give notice of the Company’s rights to acquire the Property on the terms and conditions set forth in the Project LLC Agreement.
In the event of any conflict or inconsistency between the terms of this Memorandum and the Project LLC Agreement, the terms of the Project LLC Agreement shall control.
Unless sooner terminated in accordance with the terms of the Project LLC Agreement, the Company’s rights to acquire the Property pursuant to the Project LLC Agreement shall expire of record ten (10) years from the recordation of this Memorandum.
Unless sooner terminated in accordance with the terms of the Project LLC Agreement, the Company’s rights to acquire the Property pursuant to the Project LLC Agreement shall expire of record ___________________ (___) years from the recordation of this Memorandum.
For information relating to taxation and the tax treatment of Pooled Units, please refer to section 7 of the Master PDS for the Trust.
In the event that the Closing occurs and HECO agrees (before or after the Closing) to enter into an Off-take Agreement with the Project Entity, then, promptly following the Closing, ClearFuels and the Shareholder Representative shall use commercially reasonable efforts to form the Project Entity and to negotiate in good faith the terms of the Project LLC Agreement consistent with the terms of this Agreement.
The Project LLC's income will be allocated as necessary to give substantial economic effect (within the meaning of Section 1.704-1 of the Income Tax Regulations) to the distributions described in the Project LLC Agreement and as provided in the Project LLC Agreement.
Upon completion of such negotiations, ClearFuels shall execute the Project LLC Agreement and cause the Project Entity to issue the Profits Interest to the Shareholder Entity.
On or prior to the Effective Date, SEF shall cause each of SEF Development and SEF Energy LLC to (a) enter into the Project LLC Agreement, and (b) in consideration of Allegheny's agreements herein, transfer to Allegheny 50% of the Common Units for a cash capital contribution of $1,000.
The Project LLC Agreement shall not require any holder of the Profits Interests (in its capacity as such) to make capital contributions to the Project Entity, provided that the percentage interest of such holder shall be subject to dilution on a pro rata basis with ClearFuels for any capital contributions made to the Project Entity after the Financial Closing Date in accordance with the Project LLC Agreement.