Inland Member definition
Examples of Inland Member in a sentence
If Net Operating Income for such calendar quarter equals or exceeds the Target NOI, then the entire reserve, including all previously undistributed Promotes, shall be paid to Inland Member by the Company.
If Inland Member elects (y), and the Company thereafter is unable to sell the remaining Existing Portfolio Projects to one or more third party purchasers on the open market for not less than 100% of the Liquidation Price for such Existing Portfolio Projects, the Company shall sell to Western the remaining assets of the Company for the aggregate Liquidation Price for such Existing Portfolio Projects.
In no event will Inland Member or the Company be required to undertake any recourse or indemnification obligations in connection with any financing obtained by any Company Entity.
Inland Member acknowledges that Western has submitted a Project Budget and an Annual Budget for 2010 and that the next due date for updated Project Budgets and Annual Budget shall be October 1, 2010.
If ▇▇▇▇▇ does not exercise the Membership Interest Buyout within the ▇▇▇▇▇ Exercise Period, the right to exercise the Membership Interest Buyout shall thereafter become the sole right of the Inland Member.
If to Inland Member: Inland Equity Investors, LLC ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ Oak Brook, IL 60523 Attention: ▇▇▇▇▇▇ ▇.
Notwithstanding the foregoing, to the extent any provision of this Agreement specifically requires approval by Inland Member, such provision shall control and the Manager shall not have authority to decide such matters without Inland Member’s approval.
The Note shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania and the applicable laws of the United States of America.
Capitalized terms used but not defined herein shall have the meaning set forth in the Operating Agreement of IW JV 2009, LLC dated December 1, 2009, by and between Inland Member and Western (“Operating Agreement”).
Western has made available to Inland Member a true and complete copy of the operating agreement or similar organizational document for each Project Entity and each such agreement is in full force and effect.