DCT LLC definition
Examples of DCT LLC in a sentence
TRT LLC acknowledges and agrees that none of DCT LLC, the Property Manager, any Affiliate of DCT LLC nor the person or entity which prepared such Disclosure Information delivered to TRT LLC or its auditor shall have any liability to TRT LLC for any inaccuracy in or omission from any Disclosure Information.
Notwithstanding anything to the contrary contained herein, the Partners acknowledge and agree that with respect to any DCX Asset, DCT LLC may acquire only the fee simple interest in the Properties.
DCT LLC agrees to cooperate and to cause the Partnership to use its reasonable efforts, to the extent reasonably practicable, to maximize the tax efficiency and protect the tax deferral of the sellers of any DCX Asset acquired by TRT LLC or its Affiliate(s)pursuant to any DCX Call Right.
In the event of the exercise by TRT LLC of its rights under this Section 6.15 and the removal of DCT LLC as Managing Partner, TRT LLC shall be appointed as substitute Managing Partner.
If DCT LLC does not exercise the buy-sell procedure, then TRT LLC may issue a Buy-Sell Offering Notice within 30 days thereafter.
TRT LLC acknowledges that DCT and its Subsidiaries are engaged in the acquisitions and ownership financing and other participation in industrial/warehouse assets, and that DCT LLC shall act in good faith in providing investment opportunities to TRT LLC for investments meeting the Investment Criteria, but that DCT and its Subsidiaries may also undertake investment opportunities on their own account without offering them to TRT LLC hereunder.
TRT LLC and DCT LLC desire to enter into this Agreement in order to set forth the respective rights and obligations of the Partners, effective as of the date hereof and on the terms and conditions set forth herein.
DCT LLC shall serve as the Managing Partner of the Partnership until the earlier occur of (a) an DCT Event of Default (b) the resignation of DCT LLC as Managing Partner, upon either of which TRT LLC shall have the right to remove DCT LLC as Managing Partner (if DCT LLC has not theretofore resigned).
Notwithstanding anything contained in this Agreement to the contrary, as between the Partners, the provisions of this Section 6.15 shall govern with respect to the position of DCT LLC as Managing Partner of the Partnership and the right of DCT LLC to receive Promotional Distributions.
The Managing Partner acknowledges that it has been advised that Dividend Capital Total Realty Trust, the indirect owner of TRT LLC, and DCT, the general partner of DCOP, the owner of DCT LLC, are REITs.