Examples of TCR Member in a sentence
This Agreement shall be terminable by Owner upon written notice to Developer of (i) the sale by Owner of all of its right, title and interest in and to the entire Project (including any sale by assignment, foreclosure, deed in lieu of foreclosure or sale of all of the ownership interests in Owner, or otherwise) or (ii) the sale or other transfer of the membership interest in the Owner held by the TCR Member (other than to an affiliate thereof as permitted under the LLC Agreement).
Any additional capital contributions are to be made 90% by BR Southside Member and 10% by the TCR Member.
Comparing a verified and non-verified emission rate is not an apples to apples comparison.” Source: TCR Member Services Help Line on October 3, 2013 at 1:49 p.m. (866) 523-0764, option 3.
The foregoing notwithstanding, unpaid portions of the Development Fee otherwise payable to Developer shall not be payable to Developer in the event that this Agreement has terminated as a result of acts that are the subject of Sections 12.3(c) and 12.3(d) or if the Project is foreclosed or transferred pursuant to a deed in lieu of foreclosure as a result of the acts or omissions of Developer or its Affiliates, including the TCR Member or the Contractor.
The BR Southside Member and the TCR Member have agreed to a development budget pursuant to which the project will be developed.
Under the terms of the operating agreement for the BR Alexan JV, the TCR Member is generally responsible for funding development cost overruns attributable to hard and soft costs over the budgeted items in the development budget, which may be returned to the TCR Member only after BR Alexan Member has achieved a threshold internal rate of return as described below.
The Ground Lease has a term of 85 years, with no extension options, beginning upon the expiration of the 30-day feasibility period following the execution of the Ground Lease during which period TCR Member on behalf of Blaire House JV may terminate the Ground Lease for any reason without penalty.
To date, the BR Alexan Member has invested $18,863,860 and the TCR Member has invested $2,095,984.
The TCR Member also has the right to unilaterally call additional capital contributions under the operating agreement, other than for development cost overruns, as long as the TCR Member or its affiliate has an outstanding loan guaranty in order to fund any debt service shortfall or other payment that, if unpaid, would constitute a payment default on a guaranty.Any additional capital contributions are to be made 90% by BR Alexan Member and 10% by the TCR Member.
Financing The TCR Member is required to use its commercially reasonable efforts to secure, on behalf of Blaire House JV, a construction loan in the approximate principal amount of $31.6 million (the “Loan”) from Bank of America, N.A (the “Lender”).