LVP definition
Examples of LVP in a sentence
Contractor includes in the attached Exhibit C and identifies the vendors that are going to be utilized through the LVP participation and delineate for each the specific elements of work each local vendor will be responsible for performing and the dollar value of work as a percentage of the total contract value.
Contractor has been granted LVP as per Proposal submitted Exhibit C.
Notwithstanding anything to the contrary herein, a direct or indirect Disposition or other transfer of a Property or a portion thereof shall not constitute an Excluded Transfer if such transfer is effectuated with a party “related” to LVP (applying the principles of Code Sections 267(b) and 707(b)) in a transaction that lacks a bona fide commercially motivated business purpose.
If the preceding sentence does not apply to Dispositions by LVP in any calendar year because the aggregate value (as of the date hereof as set forth on Schedule A hereto) of the Properties (or portions thereof) disposed of exceeds ten percent (10%) of the total value of the Properties as of the date hereof as set forth on Schedule A hereto, then only a ratable portion of each such Disposition shall qualify as an Excluded Transfer not subject to Section 2(a).
Notwithstanding any other provision of this Agreement to the contrary, the Company is authorized to enter into the DL Tax Matters Agreement and the LVP Tax Matters Agreement and to perform all of the Company’s obligations, and to exercise all of the Company’s rights, pursuant to the DL Tax Matters Agreement and the LVP Tax Matters Agreement.
Notwithstanding anything to the contrary in this Agreement, the issuance, sale, transfer or other disposition (whether by merger, consolidation or otherwise) of equity securities of LVP REIT or LVP OP shall not be a “Transfer” for purposes of this Agreement and shall not be subject to any restrictions hereunder.
Notwithstanding the foregoing, LVP shall not be deemed to have breached its obligations under this Section 2(e) solely because a governmental taxing authority determines that LVP would be required to file an amended tax return or amended information statement that reports the Contribution other than as a contribution pursuant to Section 721 of the Code.
Following Closing, Parent Sub and LVP OP shall cooperate to calculate and make such payments to each other to give effect to the foregoing pro ration.
So long as Parent OP is reasonably contesting any Proceeding, the LVP Parties (or their Indirect Owners) shall not pay or settle any such Proceeding without the consent of Parent OP, which consent may be withheld in Parent OP’s sole discretion.
Parent OP shall bear all costs and expenses of the Dispute Firm; provided, the LVP Parties shall bear such costs if Parent OP is found to have no liability pursuant to this Agreement.