Examples of Internalization Date in a sentence
The OPP Award valuation dates are anticipated to be the first, second and third anniversaries of the Internalization Date, with earned awards vesting in one-third tranches on each of the third, fourth and fifth anniversaries of the Internalization Date.
In addition to the Annual Cash Bonus and Annual Stock Bonus, effective as of the date the Company becomes self-managed (the “Internalization Date”), the Executive shall also be eligible to participate in the ongoing outperformance plan of the Company (the “OPP Plan”) to be implemented on or about the Internalization Date (an “OPP Award”).
The Company agrees to take all commercially reasonable actions that are necessary to secure on or before the Internalization Date consent to assignment of such Contracts such that the Advisor and its Affiliates have no further obligation or liabilities to the relevant counterparties in connection therewith including, without limitation, assumption fees and counterparty expenses in connection with such assignment for which Advisor is liable.
Consolidated Tangible Net Worth (A) at any time from and after January 1, 2020 and prior to the Internalization Date, shall not be less than the sum of (i) $1,500,000,000, plus (ii) seventy-five percent (75%) of the net cash proceeds thereafter received by Guarantor (x) from any offering by Guarantor of its common equity and (y) from any offering by Colony Credit Real Estate, Inc.
On or prior to the Internalization Date, the Advisor will facilitate and support the Company’s efforts to hire the employees of the Advisor who, as of the date hereof, work at the Advisor’s Orlando, Florida offices (the “Targeted Personnel”), with the Company thereupon assuming all obligations and liabilities for such personnel arising on or after the hire date; provided, however that the Company will not hire any of the Targeted Personnel without the prior written consent of the Investor.
Subject to compliance with the requirements of Section 8.2 of the Charter and Section 14 of the Advisory Agreement, the Company and the Advisor will renew the Advisory Agreement upon the expiration of its current term for successive one-year terms provided that the Advisory Agreement or any renewal agreement thereto provides for its termination upon the Internalization Date.