JMB Limited Partner definition
Examples of JMB Limited Partner in a sentence
The Partnership's tax returns shall be prepared by a big six accounting firm selected by the JMB Limited Partner.
The General Partner shall sign and file tax returns prepared by the Partnership's accountant in consultation with the JMB Limited Partner.
The General Partner shall, upon the written request of the JMB Limited Partner, promptly cause the Partnership to exercise its right to sell the OHSP Interests to FW Strategic or OHSP pursuant to the proviso of Section 4.02(d)(ii) of the Restructuring Agreement.
Following (i) the exercise of the Put Right pursuant to Section 7.6A and (ii) the receipt by the JMB Limited Partner of all amounts to be received as a result thereof, the General Partner shall, upon receipt of the written election of the JMB Limited Partner at any time, in the JMB Limited Partner's sole discretion, cause its Partnership Interest to be converted to a limited partner interest, and the Special General Partner shall thereupon become the successor General Partner.
The effect of this Agreement shall be that the JMB Limited Partner shall receive an allocation of Partnership nonrecourse debt, as of the date hereof, that is not less than $129,700,000.
Upon the consummation of the Merger, the Partnership agreed that the LLC Net Assets were deemed to be the Capital Contributions of the JMB Limited Partner, and (ii) the LLC Net Assets had a gross fair market value of $100,000.
In connection with the exercise of the JMB Put Right, the JMB Limited Partner shall pay all transfer taxes, gains taxes and other similar costs related to the exercise of such rights, including any additional transfer taxes and transfer gains taxes which would be retroactively assessed with respect to the transfer of the Properties to the Property Owning Partnerships pursuant to the Plan by reason of the exercise of the JMB Put Right.
The General Partner shall promptly deliver to the JMB Limited Partner copies of all reports and information received from the Lower Tier Partnership.
The General Partner shall, upon the written request of the JMB Limited Partner, promptly cause the Partnership to exercise its Put Right (as such term is defined in the Property Owning Partnership Agreement) to require the Property Owning General Partner and Metropolis, jointly and severally, to purchase the Property Owning Partnership Interest pursuant to Section 12.2C of the Property Owning Partnership Agreement.
Notwithstanding the foregoing, the JMB Limited Partner shall execute such documents as the General Partner shall reasonably request in connection with such transaction.