CBREI definition
Examples of CBREI in a sentence
If a Partner or Partners have the right to initiate the buy/sell procedures of this Section 9.7, such Partner or Partners (the “Initiating Party”) shall do so, if at all, by delivering to the other of PECO-ARC and the Sub-Advisor as a group, on the one hand, and the CBREI Investors as a group, on the other hand (the “Other Party”) a written notice stating that the Initiating Party intends to proceed with this buy/sell procedure (a “Buy/Sell Notice”).
For this purpose, the valuation of the Interests of the CBREI Investors will not be reduced by any value attributable to termination of the Advisory Agreement or the Management Agreement or the internalization of management of the Partnership or any Property.
The Partnership will use the information provided on such Forms W-8, including the type of entity the CBREI Investor represents to be for U.S. tax purposes, to compute the amount of U.S. withholding required.
Subject to Section 4.2.3 (Partner Loans) and Section 5.3 (Withholding), Net Cash Flow, if any, shall first be allocated between PECO-ARC and CBREI Investors, pro rata in proportion to their respective Percentage Interests.
The CBREI Investors, acting jointly, shall (i) have the right to appoint two members of the Executive Committee.
If a CBREI Investor fails or refuses to Transfer its Interest in accordance with this Section 9.5, or to execute all documents and instruments reasonably necessary in connection therewith, each CBREI Investor hereby irrevocably appoints PECO-ARC, with full power to act alone, as the CBREI Investor’s agent and attorney-in-fact to execute and deliver said documents and Transfer the Interest of the CBREI Investor.
The Executive Committee members appointed by the CBREI Investors (i) shall at all times be employees or officers of CBREI and (ii) shall be acceptable to PECO-ARC in its reasonable discretion.
Except as expressly permitted in Sections 9.3, 9.4, 9.5, 9.6, and 9.7 no Partner shall Transfer, or cause or permit the Transfer of, all or any portion of its Interest without obtaining the prior written consent of (i) PECO-ARC, in the case of a Transfer by a CBREI Investor, (ii) the CBREI Investors, in the case of a Transfer by PECO-ARC, or (iii) PECO-ARC and the CBREI Investors, in the case of a Transfer by the Sub-Advisor.
Each CBREI Investor will be the type of entity that such CBREI Investor represents to be for U.S. tax purposes on such forms.
With respect to determining the Fair Market Value of the Partnership in connection with an IPO, as used herein, “Partner” shall mean PECO-ARC on the one hand and the CBREI Investors (acting as one based on majority vote of their Interests) on the other hand.