CMCT definition
Examples of CMCT in a sentence
As United States securities law prohibits the trading of securities based on material non-public information, each Co-Investor Member acknowledges and agrees that there may be occasions when it (or any of its Affiliates that come into possession of information about the Property) may not be able to buy or sell any securities of CMCT.
The manager of CMCT will maintain in effect and enforce policies and procedures designed to achieve compliance by CMCT and each of its Subsidiaries (including, without limitation, each Loan Party) and their respective directors, officers and employees with Anti-Corruption Laws and applicable Sanctions.
Each Co-Investor Member acknowledges and agrees that the information about the Property that it will receive may constitute material non-public information about CMCT, the ultimate corporate parent of the CIM Member.
None of (i) CMCT nor any of its Subsidiaries (including, without limitation, the Loan Parties), or (ii) to the knowledge of the chief executive officer, chief financial officer or general counsel of CMCT and each Borrower, any director, officer or employee of CMCT or any of its Subsidiaries that will act in any capacity in connection with or benefit from the transactions contemplated hereby, is a Sanctioned Person.
Notwithstanding the foregoing, any transferee of any Transferred Partnership Interest shall be subject to any and all restrictions on ownership or transfer of stock of CMCT or shares of the REIT Limited Partner contained in the Charter or Declaration of Trust, as applicable, that may limit or restrict such transferee’s ability to exercise its redemption rights, including, without limitation, the Ownership Limit.
CMCT and each of its Subsidiaries (including, without limitation, each Loan Party), and to the knowledge of the chief executive officer, chief financial officer or general counsel of CMCT and each Borrower, each director or officer thereof, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects.
Any waiver by the REIT Limited Partner or CMCT relating to compliance with the Ownership Limit or other restrictions in the Declaration of Trust or Charter shall be made and shall be effective only as provided in the Declaration of Trust or Charter, as applicable.
The Company shall pay to the Managing Member (or a Controlled Affiliate of CMCT or CIM Group designated by the Managing Member) (in either case, the “CIM DM”) a development management fee (the “CIM Development Fee”) equal to the excess of (x) four percent of the Gross Development Cost over (y) the fees paid to any third party development manager for such month.
The parties hereto specifically agree that the provisions of this Article I are not the exclusive method by which Units or NAV REIT Common Shares, as applicable, may be exchanged for CMCT Common Stock, NAV REIT Common Shares or cash, and that NAV REIT and the relevant Qualifying Party or NAV REIT Common Shareholder, as applicable, may agree in writing, on a case-by-case basis, to effect such exchange by any other arrangements.
In the event this Agreement is terminated by CIM SBA, at CMCT’s or PMC Commercial Lending’s election, CIM SBA agrees that it will use commercially reasonable efforts to help transition its employees who have been providing services to CMCT or PMC Commercial Lending, as the case may be, under this Agreement to become employees of CMCT or PMC Commercial Lending, as the case may be.