Single Member Bankruptcy Remote LLC definition

Single Member Bankruptcy Remote LLC means a limited liability company organized under the laws of the State of Delaware which at all times since its formation and at all times thereafter
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Single Member Bankruptcy Remote LLC. Schedule 5 “SPE Breach” - 8.1(i) “Special Member” - Schedule 5
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Single Member Bankruptcy Remote LLC. Schedule 5 “SNDA” – 5.10.4
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Examples of Single Member Bankruptcy Remote LLC in a sentence

  • Behringer Harvard I and Behringer Harvard III are each a Single Member Bankruptcy Remote LLC.


More Definitions of Single Member Bankruptcy Remote LLC

Single Member Bankruptcy Remote LLC. Schedule 4 “Sole Member” – Schedule 4 “Special Member” – Schedule 4 “Special Purpose Bankruptcy Remote Entity” – Schedule 4 “Special Transfer” — 5.16 “Springing Recourse Event” – 10.1 “Subaccounts” — 3.1 “Successor Borrower” — 2.3.3 “Successor Guarantor” – 5.16 “Tax and Insurance Subaccount” — 3.3 “Undefeased Note” — 2.3.3 Schedule 1 - 2 Schedule 2
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Single Member Bankruptcy Remote LLC means a limited liability company organized under the laws of the State of Delaware which at all times since its formation and at all times thereafter (i) complies with the following clauses of the definition of Special Purpose Bankruptcy Remote Entity above: (i)(A), (ii)(A), (iii), (iv), (ix), (x), (xi) and (xiii) through (xxxii); (ii) has maintained and will maintain its accounts, books and records separate from any other person;
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Single Member Bankruptcy Remote LLC. Schedule 5 “Special Member”— Schedule 5 “Special Purpose Bankruptcy Remote Entity” — 5.13
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Single Member Bankruptcy Remote LLC means a limited liability company organized under the laws of the State of Delaware which at all times since its formation and at all times thereafter (i) complies with the following clauses of the definition of Special Purpose Bankruptcy Remote Entity above: (i)(A), (ii)(A), (iii), (iv), (ix), (x), (xi) and (xiii) through (xxxii); (ii) has maintained and will maintain its accounts, books and records separate from any other person; (iii) has and will have a limited liability company agreement which provides that the business and affairs of Borrower shall be managed by or under the direction of a board of one or more directors designated by Sole Member, and at all times there shall be at least one (1) duly appointed Independent Director on the board of directors, and the board of directors will not take any action requiring the unanimous affirmative vote of 100% of the members of its board of directors unless, at the time of such action there are at least one (1) member of the board of directors who are Independent Directors, and all of the directors and all Independent Directors shall have participated in such vote; (iv) has and will have a limited liability company agreement which provides that, as long as any portion of the Debt remains outstanding, (A) upon the occurrence of any event that causes Sole Member to cease to be a member of Borrower (other than upon continuation of the Borrower without dissolution (x) upon an assignment by Sole Member of all of its limited liability company interest in Borrower and the admission of the transferee, if permitted pursuant to the organizational documents of Borrower, or (y) the resignation of Sole Member and the admission of an additional member of Borrower, if permitted pursuant to the organizational documents of Borrower), the person acting as an Independent Director of Borrower shall, without any action of any Person and simultaneously with Sole Member ceasing to be a member of Borrower, automatically be admitted as a member
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Single Member Bankruptcy Remote LLC. Schedule 6 “Special Member” – Schedule 6 “Special Purpose Bankruptcy Remote Entity” - 5.6 “Springing Recourse Event” – 10.1 “SRT LA Retail Assignment of Leases and Rents” – 1.1 (Definition of Loan Documents) “SRT LA Retail Security Instrument” – 1.1 (Definition of Loan Documents) “SRT SF Retail Assignment of Leases and Rents” – 1.1 (Definition of Loan Documents) “SRT SF Retail Security Instrument” – 1.1 (Definition of Loan Documents) “Subaccounts” - 3.1 “Substitute IRPA” - 2.6.6 “Syndication” - 9.1.1 “Underwriter Group” - 9.1.3 “Underwriters” - 9.1.3 “U.S. Dollars” – 1.1 (Definition of LIBOR) Schedule 1-3 71215191 Schedule 2 Required Repairs acc€sg 12 montbs 4.l Americarc Wi*l Disabiliti€E Act $250 Schedule 2-1 7tzts1,9l Schedule 3 Section 4.15 ft) Borrower did not have a Special Member until shortly prior to the closing of the Loan. by Borrower,s organizational documents did not include the special member provisions required schedule 6 of ihis Agreement until shortly prior to the closing of the Loan. Borrower's organizational documents did not include the special pu{pose' single-member, shortly prior to the bankruptcy remote provisions required by Schedule 6 of this Agreement until closing of the Loan. Property; SRT SF Retail previously owned and operated each of the following: (i) the 8 octavia -Street (v) Xxxxxx (ii) 388 Xxxxxx Property; (iii) 40d Grove Property; (iv) 450 Xxxxx Property; and Shops Property. SRT LA Retail previously owned and operated the Silver Lake Collection Property. prior to the closing of the Loan, Borrower did not maintain a separate bank account. Borrowet's trust bank accounts were hetd by the Operating Partnership due to the real estate investment structure. to file tax Because the Borrower is a "disregarded entity" for tax purposes and is not required level. All returns under applicable law, Boriower will not file separate tax returns at the federal consolidated at of the Guarantor's (which is the real estate investment trust) federal returns are satisfy the the Operating partnership level as part of a tax return configured and compiled to the Borrower will federal level regulations on real esiate investment trusts. Individual returns for be filed at the state level. prior to the date of this Loan, Borrower was a borrower under a loan from Keybank National Association (,,Keybank') and in connection with the loan, pledged its assets to Keybank. been fully As of the date hereof, Keybank's interest in the Borrower and the Property...
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