LPLP definition
Examples of LPLP in a sentence
The personal obligations of the Guarantors as set forth in such loan documents are referred to herein as the “Recourse Obligations.” The Partners confirm that LPLP serves as the Guarantor of the Recourse Obligations with respect to the Assumed Financing and, with respect to the Assumed Financing for WillowWood I-II, Liberty Property Trust also serves as a Guarantor of the Recourse Obligations.
By executing this Agreement on behalf of the General Partner, LPLP hereby consents to and agrees to be bound by the immediately preceding sentence.
Simultaneously with the contribution to the Company of the Contributed Interests, LPLP has or shall contribute to the Company, on behalf of the General Partner, the lender’s rights and interests in and to the Purchase Money Loan Documents.
THIS NOTE IS NOT AN OBLIGATION OF, AND IS NOT INSURED OR GUARANTEED BY, ANY GOVERNMENTAL AGENCY, CONN APPLIANCES, INC., CONN’S INC., CONN CREDIT I, [L.P.]LP, THE INDENTURE TRUSTEE, ANY TRUSTEE OR ANY AFFILIATE OF ANY OF THE FOREGOING.
LPLP Agrees to guaranty the obligations of Managing Member to make the Development Contributions and Additional Capital Contributions pursuant to Sections 4.02 and 4.03, respecitvely.
In addition, if the Investor B Limited Partner shall exercise its "put" right pursuant to Section 9.03 of the Partnership Agreement, this Agreement shall terminate and become null and void upon the closing of LPLP's purchase of the Investor B Limited Partner's Partnership Interest, except that any obligations of LPLP that accrued hereunder prior to the date of such termination shall survive such termination.
LPLP has obtained the permits and approvals set forth on Schedule 26 attached hereto (the “Monarch Lakes Permits and Approvals”) with respect to the construction of an approximately 104,500 square foot building and related site improvements (the “Monarch Lakes Improvements”) on an approximately 5.23 acre portion of the Florida Real Property known as ▇▇▇▇ ▇.▇.
At the time of Settlement, LPLP shall assign to Buyer all of LPLP’s right, title and interest in the Monarch Lakes Permit and Approvals.
LPLP shall guaranty the indemnity by Managing Member set forth in the preceding sentence.
Concurrently with the execution of this Agreement, the Company shall cause the Hotel Owner to enter into a development agreement (the “Development Agreement”) with LPLP (referred to in this capacity, the “Developer”) and the Office Owner pursuant to which the Developer will develop and cause the construction of the office building on behalf of the Office Owner and the Hotel on behalf of the Hotel Owner.