Transeastern JV definition

Transeastern JV means the Entity formed by TOUSA Homes, L.P. and certain Entities related to Falcone/Ritchie LLC to acquire substantially all of the homebuilding assets of Transeastern Properties, Inc.
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Examples of Transeastern JV in a sentence

  • The Company’s asset write downs to date have been substantially lower than those taken at the Transeastern JV – a comparable business – and less than one would expect in light of the Company’s drastically declining orders and other deteriorating business metrics.

  • Instead, as alleged in paragraph 108, the Company’s risk profile had not improved with the Transeastern JV because of the Guarantees that TOUSA agreed to sign in order to fund the Transeastern acquisition.

  • A downturn in the housing market caused the Transeastern JV to encounter financial trouble, and on December 4, 2006, the Transeastern Lenders brought suit against TOUSA for repayment of the Transeastern Loans (the “Transeastern Litigation”).

  • After months of negotiations, the Debtors consummated a “global settlement” of the litigation and of the remaining obligations among participants in the Transeastern JV (the “ Transeastern Settlement”).

  • Further, Defendants’ statements regarding the recourse nature of the debt to the Company were materially false and misleading because they knowingly or recklessly failed to disclose that, at the time the statements were made, the Transeastern JV was experiencing a huge financial crunch and certain conditions were then-existing that triggered the Company’s obligations under the Guarantees.

  • The remainder of the loan proceeds was used to purchase the Transeastern JV, at which point TOUSA became its sole owner, and to pay fees for financing, legal and professional services.

  • TOUSA and Homes LP gave certain guaranties as part of the transaction, and the parties formed several subsidiaries of the Transeastern JV.

  • TOUSA and its joint-venture subsidiary funded the Transeastern JV independently of the TOUSA Group by entering into credit agreements (the “Transeastern Loans”) with certain lenders (the “Transeastern Lenders”).

  • Pursuant to the Land Bank Settlement Agreement, among other things, the Falcone Entities obtained releases from any and all claims or issues arising in connection with the Transeastern JV and the Transeastern Acquisition with the exception of certain retained obligations set forth in the Land Bank Settlement Agreement.

  • The Demand Letters allege that the Transeastern JV has failed to comply with certain of its obligations pursuant to the Credit Agreements.

Related to Transeastern JV

  • Women Owned Business Enterprise or "WBE" means a firm awarded certification as a women owned and controlled business in accordance with City Ordinances and Regulations as well as a firm awarded certification as a women owned business by Cook County, Illinois. However, it does not mean a firm that has been found ineligible or which has been decertified by the City or Cook County.

  • EBS means Electronic Bid Submission.

  • CST means Central Sales Tax

  • JV Entity means any joint venture of the Borrower or any Restricted Subsidiary that is not a Subsidiary.

  • Women Business Enterprise (WBE) as used in this policy means a business enterprise that meets all of the following criteria:

  • Operating Company means an “operating company” within the meaning of 29 C.F.R. §2510.3-101(c) of the Plan Asset Regulations.

  • Business Entity means a natural or legal person, business corporation, professional services corporation, limited liability company, partnership, limited partnership, business trust, association or any other legal commercial entity organized under the laws of this State or of any other state or foreign jurisdiction;

  • Acquired Entities means the Company and the Company Subsidiary.

  • minority business enterprise means any small contractor or supplier of materials fifty-one percent or more of the capital stock, if any, or assets of which is owned by a person or persons: (1) who are active in the daily affairs of the enterprise, (2) who have the power to direct the management and policies of the enterprise, and (3) who are members of a minority, as such term is defined in subsection (a) of Connecticut General Statutes § 32-9n; and

  • Minority-owned business means a business that is at least 51 percent owned by one or more minority individuals who are United States citizens or legal resident aliens, or in the case of a corporation, partnership, or limited liability company or other entity, at least 51 percent of the equity ownership interest in the corporation, partnership, or limited liability company or other entity is owned by one or more minority individuals who are United States citizens or legal resident aliens, and both the management and daily business operations are controlled by one or more minority individuals.

  • Newco has the meaning set forth in the first paragraph of this Agreement.

  • Related Entities means contractors and subcontractors of a Party at any tier; grantees, investigators, customers, and users of a Party at any tier and their contractors or subcontractor at any tier; or, employees of the Party or any of the foregoing.

  • Ohio Business Gateway means the online computer network system, created under section 125.30 of the Ohio Revised Code, that allows persons to electronically file business reply forms with state agencies and includes any successor electronic filing and payment system.