Development General Partner definition

Development General Partner means Equiton Real Estate Development Fund GP Inc., a corporation incorporated under the laws of the Province of Ontario to be the general partner of the Development Partnership or any successor general partner of the Development Partnership.

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Development General Partner means Benchmark Equities, Inc., or any Person who is designated as a Development General Partner in the Schedule at the time of reference thereto. "Entity" means any general partnership, limited partnership, corporation, joint venture, trust, estate, business trust, cooperative, association or other legal form of organization. "Escrow Agent" means Mercantile-Safe Deposit & Trust Company, or such other escrow agent chosen by the General Partners to hold funds from Persons who have subscribed to become Unitholders pending the assignment of Assignee Interests to them.

Development General Partner means Meridian Healthcare Investments, Inc., or any Person who is designated as the Development General Partner in the Schedule at the time of reference thereto. "Development Partnership Interest Acquisition Agreements" means those agreements pursuant to which the Fund will acquire, subject to raising sufficient proceeds of the Offering, Operating Partnership Interests of the Operating Partnerships that own Facility V, Facility VI and Facility VII. "Due Diligence Expense Reimbursement Fee" means the fee equal to 2% of the Gross Proceeds of the Offering allowed to the Selling Agent, which may be re-allowed to Soliciting Dealers, for advisory services, due diligence activities and the reimbursement of expenses. "Entity" means any general partnership, limited partnership, corporation, joint venture, trust, estate, business trust, cooperative, association or other legal form of organization. "Escrow Agent" means Mercantile-Safe Deposit & Trust Company, or such other escrow agent chosen by the General Partners to hold funds from Persons who have subscribed to become Investors pending the assignment of Assignee Units to them. "Existing Partnership Interest Acquisition Agreements" means those agreements pursuant to which the Fund will acquire, subject to raising sufficient proceeds of the Offering, Operating Partnership Interests relating to Facility III and Facility IV. "Facilities" mean the nursing centers described in the Prospectus which are to be acquired, developed, owned and operated by the Operating Partnerships, including all replacements thereto and all personal property which is used in connection therewith. Any one of the Facilities may herein be referred to as a "Facility". The terms "Facility I" through "Facility VII" shall be defined by reference to the use of such terms in the Prospectus. "Front-End Fees" means fees and expenses paid by any Person for any services rendered during the organization or acquisition phase of the Fund, including the Offering and Organization Expense Fee, the Due Diligence Expense Reimbursement Fee, the Selling Commissions, the Acquisition Expenses, the Acquisition Fees, mortgage placement, financing or refinancing fees and any other similar fees.

Examples of Development General Partner in a sentence

Except as otherwise provided herein, decisions to be made by the General Partners shall be made by the joint agreement of the Administrative General Partner and the Development General Partner.
If an event of default described above shall not have been cured within the cure period applicable thereto, then (i) for a period of 45 days the Administrative General Partner shall have the option to purchase the Partnership Interests of the Development General Partner and Benchmark Communities, Inc.
Net Cash Flow, if any, for each year shall be distributed and applied by the Fund in the following order of priority: (i) First, 99% to the Investors, .5% to the Development General Partner, and .5% to the Administrative General Partner, until each Investor has received an amount equal to his unpaid Preferred Return.
Net Cash Flow, if any, for each year shall be distributed and applied by the Partnership in the following order of priority: (i) First, 98% to the Unitholders, 1% to the Development General Partner, and 1% to the Administrative General Partner, until each Unitholder has received an amount equal to 10% of his Adjusted Capital Balance.
Net Cash Flow, if any, shall be distributed and applied by the Partnership as follows: 98% to the Class A Limited Partners, in accordance with their respective Class A Limited Partner Percentages, 1 % to the Development General Partner and 1 % to the Administrative General Partner.
No payments made by the Development General Partner under the Cash Flow Deficit Guaranty Agreement shall constitute a Capital Contribution of the Development General Partner or be credited to the Capital Account of the Development General Partner.
For each taxable year, Profit and Loss (other than Profit or Loss from a Sale) of the Partnership shall be allocated 98% to the Class A Limited Partners, in accordance with their respective Class A Limited Partner Percentages, 1 % to the Administrative General Partner and 1 % to the Development General Partner.
Expenses which are not included in a Budget may be incurred by the Development General Partner without the prior written consent of the other Partners provided any such expense is reasonable and is incurred in the ordinary course of business of the Partnership and individually is not in excess of Fifty Thousand Dollars ($50,000); provided further that each such expenditure shall be explained promptly in detail and in writing to the other Partners.
OLYMPIA & YORK STATE LIMITED PARTNERSHIP By: O&Y (U.S.) Development Company Limited Partnership, a general partner By: O&Y (U.S.) Development General Partner Corp., a general partner By: ___________________________________ Vice President FIRST ALBANY COMPANIES, INC.
If a Default shall not have been cured within the cure period (if any) applicable thereto, then for a period of 45 days the Administrative General Partner shall have the option to purchase the Interests of the Development General Partner in the Fund at a price determined and payable in accordance with Section 6.5 hereunder, and if such Interests are purchased, it shall constitute a voluntary withdrawal of the Development General Partner.

More Definitions of Development General Partner

Development General Partner means ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, or any Person who is designated as a Development General Partner in the Schedule at the time of reference thereto.

Development General Partner means Meridian Healthcare Investments, Inc., or any Person who is designated as the Development General Partner in the Schedule at the time of reference thereto.

Development General Partner means Vintage Rancho Malibu, LLC, a California limited liability company, or its successor, determined in accordance with Section 5.8 below.