AFRT definition
Examples of AFRT in a sentence
For purposes of this Section 4.42, the term “Stepped-Up Properties” means properties other than those held through partnerships or other similar joint ventures with third parties not related to AFRT.
In the event that any distribution described in clause (2) of the definition of “Permitted Distribution” shall be in excess of the amount required to pay the corporate overhead of AFRT for the period for which such Permitted Distribution was made (as a result of such overhead being less than the amount budgeted therefor), Borrower shall cause such excess to be promptly returned to the Qualified Operating Account.
Borrower has no obligations under the Encumbered Property Debt Documents except, in the case of AFRT and the Operating Partnership, certain customary non-recourse carveouts.
Original limited liability company or partnership interest certificates, as the case may be, executed in blank for AFRT and American Financial TRS, Inc.
On or prior to the Effective Date, GKK Stars shall cause all AFR Loan Equity Interests to be assigned to an entity in which AFRT has no direct or indirect ownership interest and shall cause FSG and any other subsidiaries (direct or indirect) of GKK Stars to be released from any and all obligations under the AFR Loan.
GKK Stars shall pay or cause to be paid all GKK Transaction Expenses which have been incurred by GKK Stars or its Affiliates on or prior to July 8, 2011, out of cash flow generated by the properties owned by subsidiaries of AFRT.
Borrower shall not permit any distributions, transfers or disbursements to be made from the Qualified Operating Account (or any other account containing funds related to the Properties and/or the operations of AFRT) to the direct or indirect equityholders in Junior Mezzanine Borrower, except for Permitted Distributions.
Guarantor (and not AFRT) shall be responsible for and pay (and GKK Stars shall cause Guarantor to pay) the Guarantor Allocation of the GKK Transaction Expenses after July 8, 2011, in an amount not to exceed the Guarantor Allocation.
With the exception of the Transfer Instruments pertaining to GKK Stars's Equity Interest in AFRT, which shall be in favor of KBSAS or such other entity as directed by KBSAS (the "Initial AFRT Transfer Documents"), the Transfer Instruments shall be "in blank" or, at the direction of Acquisition Co, in favor of Acquisition Co or a designee.
Any GKK Transaction Expenses incurred after July 8, 2011, that are in excess of the Guarantor Allocation, shall be paid by AFRT out of cash flow generated by the properties owned by subsidiaries of AFRT.