Component Entities definition
Examples of Component Entities in a sentence
If JV GP, MDLP or any of the Component Entities (other than the MC Component Entities) do not obtain public financing or non-affiliated third party financing to pay for the Infrastructure Improvement Costs and Program Costs, the Sub-Allocated Infrastructure Improvement Payments shall not be added to Sub-Allocated Prepaid Annual Payments upon a Take Down as provided in Section 10.5.2.
The parties hereto acknowledge and agree that prior to the date hereof, MDLP caused to be formed each of the Component Entities and, in connection with the Financial Closing, each of the Component Entities entered into their respective Ground Lease and Component Agreement whereby MDLP assigned certain of its rights and obligations to the Component Entities.
The JV GP shall use commercially reasonable efforts to cause MDLP and the Component Entities, or, if applicable, the ROFR Component Entities to timely comply with all of MDLP’s or obligations under any of the Authority Agreements.
In connection with the Restructuring, MDLP, certain of the Component Entities and other signatories thereto entered into the License Agreement to provide for the use of the Marks, without a fee, by each of the signatories to the License Agreement.
Not later than November 30 of each fiscal year, the General Partner shall deliver to the iStar Representative and the BREDS Representative a copy of the proposed budget for the General Partner and its Component Entities for the next succeeding fiscal year, including estimated operating costs, capital expenditures, material Indebtedness proposed to be incurred, estimated Required Reserves, material asset dispositions and acquisitions and other material transactions.
Subject to the MC Component LP Agreements or, as applicable, the ROFR Component Entity Agreements, the JV GP may delegate all or any of its duties as managing general partner of MDLP to such other Persons as it deems necessary or desirable for the transaction of the business of MDLP, the Component Entities or, as applicable, the ROFR Component Entities, and, in furtherance of any such delegation, the JV GP shall have the right to appoint, employ, or contract with and compensate any such Persons.
So long as no Event of Default exists, the General Reserve Funds may be used by the General Partner and its Component Entities to pay for expenses set forth in the Approved Budget or otherwise jointly approved by the iStar Representative and the BREDS Representative in writing (“Approved Expenses”).
If JV GP, MDLP or any of the Component Entities (other than the MC Component Entities) obtained public financing to pay for the Infrastructure Improvement Costs, the Sub-Allocated Infrastructure Improvement Payments shall include any and all principal payments and interest payments made under such financing.
Notwithstanding anything herein to the contrary, each Component, phase or sub-Component thereof shall be responsible (in proportion to their respective Sub-Allocation Percentages) for any and all Infrastructure Improvement Costs and Program Costs (other than Exclusive Office/Hotel Infrastructure Improvement Costs), up to but not in excess of $160,000,000, that has been incurred and paid by the JV GP, MDLP or any of the Component Entities (“Sub-Allocated Infrastructure Improvement Payments”).
The JV GP and its Affiliates acknowledge and agree that the name of the MC Partners and any of their Affiliates may not be used by the JV GP, any of its Affiliates or MDLP in connection with the Project or MDLP without the prior written consent of the MC Partners; provided, that GP LLC and each of the Component Entities shall be permitted to use the word “M▇▇▇-▇▇▇▇” in their name.