Trinity Property definition
Examples of Trinity Property in a sentence
All Trinity Property shall be owned by Trinity as an entity, and no Trinity Member shall have any ownership interest in such property in its individual name or right.
Trinity shall hold all of the Trinity Property in the name of Trinity or the name of the Trinity Custodian (on behalf of Trinity) and not in the name of any Trinity Member.
Trinity Property Consultants, LLC, a California limited liability company (the “Property Manager”), which is an Affiliate of ▇▇▇▇▇▇, initially shall manage and operate the Project in accordance with a Property Management Agreement between the Company and the Property Manager in a form approved by the Management Committee (the “Property Management Agreement”).
All payments made in liquidation of Trinity Interests shall be made in exchange for the interest of such Trinity Member in Trinity Property pursuant to Section 736(b)(1) of the Code, including the interest of such Trinity Member in Trinity goodwill.
Each Trinity Member shall look solely to the Trinity Property for the return of its Capital Contribution and, except as otherwise provided in Section 11.10, shall have no right or power to demand or receive property other than cash, from Trinity.
The “Landlord’s Agent” shall mean Trinity Property, ▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇ 1DB or such other agents as the Landlord may from time to time appoint.
Following the payment in full in cash of all amounts due and payable to the Trinity Class B Member hereunder, and if requested by the Trinity Class A Member, Distributions in kind of the Trinity Property shall be made to the Trinity Class A Member.
For purposes of making Distributions required by Section 12.2, the Trinity Liquidator may determine whether to distribute to the Trinity Members all or any portion of the Trinity Property in kind or to sell or otherwise liquidate all or any portion of the Trinity Property and distribute the proceeds therefrom; provided that the Trinity Liquidator shall not, without the prior written consent of the Trinity Class B Member, distribute Trinity Property other than cash to the Trinity Class B Member.
Following the payment in full in cash of all amounts due and payable to the Trinity Class B Member hereunder, and if requested by the Trinity Class A Member, distributions in kind of the Trinity Property shall be made to the Trinity Class A Member.
BROKERAGE FEE: It is understood and agreed that Trinity Property Consultants, LLC is the only broker involved in this transaction.