Crescent Group definition
Examples of Crescent Group in a sentence
The Crescent Group may raise such Contributed Funds through a private placement or public offering of REIT Shares or otherwise.
As soon as practicable after the close of each fiscal quarter (other than the last quarter of the fiscal year), the General Partner shall cause to be mailed to each Limited Partner a quarterly report containing financial statements of the Partnership, or of the Crescent Group if such statements are prepared solely on a consolidated basis with the Crescent Group, for such fiscal quarter, presented in accordance with generally accepted accounting principles.
If Crescent Equities elects to pay all or any portion of the consideration to an Exchanging Person in cash, the Crescent Group agrees to use its best efforts to raise any required funds as quickly as possible after receipt of the Notice of Exchange.
As soon as practicable after the close of each fiscal year, the General Partner shall cause to be mailed to each Limited Partner an annual report containing financial statements of the Partnership, or of the Crescent Group if such statements are prepared solely on a consolidated basis with the Crescent Group, for such fiscal year, presented in accordance with generally accepted accounting principles.
In connection with the foregoing, and without limiting Crescent Equities' right in its sole discretion to cease qualifying as a REIT, the Partners acknowledge that Crescent Equities' current status as a REIT inures to the benefit of all the Partners and not solely the Crescent Group.
The Partners hereby acknowledge and agree that any Additional Funds provided by the Crescent Group (through Crescent Equities) to the Partnership pursuant to this Section 4.2 may be in the form of real property or an interest therein rather than cash.
Such reimbursements shall be in addition to any reimbursement to the Crescent Group as a result of indemnification pursuant to Section 7.7 hereof.
In connection with the foregoing, and without limiting Crescent Equities’ right in its sole discretion to cease qualifying as a REIT, the Partners acknowledge that Crescent Equities’ current status as a REIT inures to the benefit of all the Partners and not solely the Crescent Group.
The Crescent Group shall not directly or indirectly enter into or conduct any business, other than in connection with the ownership, acquisition and disposition of Partnership Interests and the management of the business of the Partnership, and such activities as are incidental thereto.
The Crescent Group shall not borrow funds for the purpose of making distributions to the shareholders of any member of the Crescent Group unless such borrowing is effectuated through the Partnership.