Examples of Timber Manager in a sentence
The Administrative Agent shall have received a duly executed Timber Manager Subordination Agreement, or a duly executed Reaffirmation of Timber Manager Subordination Agreement, as applicable, dated as of the date hereof, together with a copy of each Timberland Operating Agreement and its corresponding Collateral Assignment of Material Agreement delivered to the Administrative Agent pursuant to Section 5.1.15.
The PC Member and PC TRS are Members and Plum Creek Property Management Company, LLC is the Series One Property Manager pursuant to the Series One Property Management Agreement and the Series Two Timber Manager pursuant to the Series Two Timber Management Agreement.
The Manager may direct the Series One Property Manager and Series Two Timber Manager to prepare a single Annual Plan in lieu of separate plans for each Series.
The Series One Property Management Agreement and the Series Two Timber Management Agreement each set forth the schedule for the preparation by the Series One Property Manager or Series Two Timber Manager, as applicable, of the Annual Plan, as well as for the preparation by the Series One Property Manager or Series Two Timber Manager, as applicable, of the three (3) year and fifteen (15) year informational plans described therein.
If at any time the Administrative Agent consents to the appointment of a new or additional timber manager, such new or additional manager and the applicable Loan Parties (and applicable Subsidiaries, if any) shall, as a condition of the Administrative Agent’s consent, execute an agreement either substantially in the form of the Timber Manager Subordination Agreement as of the Effective Date or in form and content acceptable to the Administrative Agent in its sole discretion.
Such updated Timberland inventory report shall, among other things, reflect volumes removed, destroyed or miscalculated pursuant to the records and/or knowledge of Xxxxx Timberland and/or the Timber Manager, plus the then applicable added growth of the Timber volumes since the latest of either (i) the date of the last inventory report or (ii) Xxxxx Timberland’s last proprietary internal inventory system volume estimate.
Such updated Timberland inventory report shall, among other things, reflect volumes removed, destroyed or miscalculated pursuant to the records and/or knowledge of such Landholder and/or the Timber Manager, plus the then applicable added growth of the Timber volumes since the latest of either (i) the date of the last inventory report or (ii) such Landholder’s last proprietary internal inventory system volume estimate.
The Manager of the Company and of each Series, in consultation with the Series One Property Manager and Series Two Timber Manager, as applicable, shall establish commercially reasonable procedures designed to ensure that all deeds, leases, contracts, title matters, surveys and other documentation, records and financial information relating to the ownership, maintenance, harvesting and sale of the Properties are maintained in safekeeping and organized and accessible to the Members.
Upon request of any Member or the Series One Property Manager or the Series Two Timber Manager, the Manager shall provide such requesting Person with an appropriate certificate or other evidence of the above-described insurance.
The Manager shall review and approve a combined annual plan prepared and proposed by the Series One Property Manager under the process set forth in the Series One Property Management Agreement and by the Series Two Timber Manager under the process set forth in the Series Two Timber Management Agreement (upon such approval, an “Annual Plan”).