JV Fund definition
Examples of JV Fund in a sentence
In other words, Prosperous Power is entitled to exercise veto rights for major decisions of the JV Fund.
Greenspan ▇▇▇,▇▇▇.0 ▇▇▇ ▇▇▇▇▇ ▇▇▇al, Rakesh Govindji N▇ ▇▇▇ ▇▇▇hur Smyles ▇o 208 Metro JV Fund II LLC, CLPF-Metro JV GP, LLC No 209 Ronald Benderson, David H.
The executive board of directors of the JV Fund will consist of three directors, two of whom will be designated by Fountain Oaks and one of whom will be designated by Prosperous Power.
Each of Prosperous Power, GPI H6 and GPI Investment agreed to provide funding pro rata to their respective interests of US$14.1 million, US$4.5 million and US$0.2 million to the JV Fund, totaling US$18.8 million (approximately HK$146.6 million) to fund the purchase of the Houston Property and the related transaction costs.
Although the general business and affairs of the JV Fund will be managed by the manager of the JV Fund, major decisions such as changes in the share capital or the board, liquidation, merger, disposal of material assets, entering into contracts not in ordinary course of business or amend the purpose of the JV Fund or amend any material provision of the Operating Agreement require the prior written consent of all the directors of the executive board of the JV Fund.
A member of the JV Fund cannot sell, assign, transfer, exchange, pledge or create security interest over its interests in the JV Fund without the consent of member(s) contributing more than 75% of the total commitments to the JV Fund.
GPI Investment has obtained the Seller’s consent to assign all its rights and obligations under the Sale and Purchase Agreement to the JV Fund.
Prosperous Power (a non-wholly owned subsidiary of the Company) entered into the Operating Agreement with GPI H6 and GPI Investment on 30th September, 2017 in relation to the management of the JV Fund, a 75:24:1 JV Fund of Prosperous Power, GPI H6 and GPI Investment.
Each of Prosperous Power and Fountain Oaks agreed to provide funding pro rata to their respective shareholdings of US$4.5 million and US$8.6 million to the JV Fund, totaling US$13.1 million (approximately HK$102.2 million) to fund the purchase of the Fountain Lake Property and the related transaction costs.
Any metering required for a distributed energy resources interconnection shall be installed, operated and maintained in accordance with applicable EDC tariffs and agreements.