JV Acquisition definition
Examples of JV Acquisition in a sentence
The Mexico JV Acquisition shall have been consummated, or substantially simultaneously with the making of the Loans hereunder shall be consummated, in accordance with the Mexico JV Acquisition Agreement.
The name of the limited liability company is HLT JV Acquisition LLC, or such other name as the Managing Member may from time to time hereafter designate.
On 1 September 2021, Alibaba Investment served a notice to the Company pursuant to the terms of the JV Acquisition Agreement to terminate such agreement with immediate effect.
The documents listed on Exhibit G relating to the New Loan Transaction (the “New Loan Closing Documents”; and together with the Internal KBS Transfer Documents, the Defeasance Closing Documents, the Mezzanine Loan Repayment Documents and the JV Acquisition Closing Documents, collectively, the “Closing Documents”).
The JV Company may, as of the Effective Date, own a separate, dormant subsidiary utilized in connection with the acquisition of the JV Sites and that does not own any interest in the JV Sites (the “JV Acquisition Subsidiary”), but if so the JV Acquisition Subsidiary will be dissolved, convey by or otherwise removed from the JV Company prior to Closing.
The only assets held by the JV Company are (x) the JV Subsidiaries and any proceeds relating thereto, and (y) the JV Acquisition Subsidiary, which will not be owned by the JV Company at Closing.
The parties hereto hereby agree that the proceeds of the Term Loans are being used to fund the first to occur of the Basin JV Acquisition or the Target Acquisition, as the case may be and, to the extent neither the Basin JV Effective Date nor the Target Acquisition Effective Date has occurred by February 28, 2013, then the Term Commitments of each Lender shall, on such date, immediately and without any further action be reduced to $0.
Accordingly, each of the Share Subscription Agreements and the JV Acquisition Agreement has been terminated and the rights and obligations of the parties under such agreements have ceased to have effect.
To the extent neither the Basin JV Acquisition nor the Proposed Target Acquisition has been consummated on or prior to February 28, 2013, then the Ninth Amendment Effective Date will not occur, no changes contemplated by Sections 2 through 7 hereof will be effected and no Lender which has committed to make a portion of the New Term Loan will be obligated to make any such New Term Loan.
The Agent and the Lenders hereby consent to the consummation of the JV Acquisition and the execution and performance of the Joint Venture Distribution Agreement and waive any Events of Default which otherwise would have been occasioned thereby.