Major Dispute definition

Major Dispute shall have the meaning assigned to such term in Section 12.2(c).

Major Dispute means any disagreement of the Members in respect of (i) the establishment of sale objectives and parameters for the Project; (ii) the sale or other disposition of the Project or any other property owned, directly or indirectly, by the Venture in excess of $100,000; (iii) incurring, materially restructuring or materially modifying any indebtedness of the Venture or the Subsidiary REIT in excess of $100,000 or causing or the Venture or Subsidiary REIT to become liable as an endorser, guarantor, surety or otherwise, except as otherwise contemplated under Section 6.3(a)(iii); (iv) a mortgage, pledge or hypothecation of the Project to secure indebtedness of the Subsidiary REIT, except as otherwise contemplated under Section 6.3(a)(v); or (v) selling any additional interests in the Venture (other than to the developer of the Project).

Major Dispute shall have the meaning given to that term in Paragraph (b)(iii) of Article 33 hereof.

Examples of Major Dispute in a sentence

• Unless the parties mutually agree to arbitrate a Major Dispute, prior to either party commencing litigation, the parties shall attempt to mediate such dispute.

• If the Cooperating Respondents disagree with the Water Entity’s written explanation, such dispute shall be subject to the Major Dispute resolution provisions set forth in this Agreement without regard to the amount in controversy.

• Major Dispute or Altercation: The willful act of participating in a disruption involving physical contact, with multiple participants in a major dispute or altercation.

• Applicants should address the following three criteria, including where possible the desirable criterion.

• Any time after the occurrence and during the continuation of (i) a Major Dispute for a period of not less than fifteen (15) days (such 15-day period to commence upon written notice by a Member to the other Member), or (ii) an event triggering the Subsidiary REIT’s “Excess Share” provisions pursuant to its limited liability company agreement (or other governing instrument), then either Member shall be entitled to initiate the buy/sell rights set forth in this Section 8.2.

More Definitions of Major Dispute

Major Dispute means a dispute as between the NYSTRS Committee Member and the Xxxx Committee Member relating to any of the following subjects: (i) the sale or exchange of any of the Properties, (ii) the mortgaging, pledging or other encumbering of any of the Properties, or (iii) the terms of any new secured or unsecured borrowings by the Company in excess of $10,000,000, or any modification of any existing borrowings of the Company when the amount of the borrowing exceeds $10,000,000.

Major Dispute means the failure of the Members to agree upon or approve any Major Decision or other action requiring the consent of all Members, in accordance with Section 4.2.

Major Dispute means the failure of the Members or the Executive Committee to agree upon or approve any Major Decision, other than those Major Decisions identified in the immediately following sentence, which failure to agree has continued for a period of thirty (30) days after written notice thereof (the "Major Dispute Notice") has been given by a Member to the other Member(s). The failure of the Executive Committee to approve a Preliminary Presentation or a Final Presentation, including a Project Development Budget or the Plans and Specifications, for a Target, or any amendment, modification or change to either of them, or the failure of the Executive Committee to agree whether a Target conforms to the Approved Investment Parameters, is not a Major Dispute. In order to be effective, any Major Dispute Notice must contain a description of the Major Decision which the Members or the Executive Committee has been unable to agree and must contain the following language typed in BOLD PRINT on the face of the Major Dispute Notice: THIS NOTICE IS GIVEN PURSUANT TO THE LIMITED LIABILITY COMPANY AGREEMENT OF STORAGE DEVELOPMENT PORTFOLIO, L.L.C. (THE "AGREEMENT") IN ORDER TO ADVISE A MEMBER THAT A MAJOR DISPUTE WILL EXIST UNDER THE AGREEMENT UNLESS THE MEMBERS ARE ABLE TO AGREE WITHIN THIRTY (30) DAYS WITH RESPECT TO THE MATTER OR MATTERS SET FORTH IN THIS NOTICE.

Major Dispute. As defined in Section 6.15.

Major Dispute has the meaning ascribed thereto in each Venture Agreement.

Major Dispute means any disagreement of the Members in respect of a Major Decision for the Venture, as set forth in Section 6.3(a)(vi) through (xviii), (xx) and (xxi) hereof.

Major Dispute means any dispute between the parties involving (i) the failure by Naming Rights Holder to pay any portion of the Naming Fee on or before the date due and to cure such deficiency within the applicable grace period; (ii) any assertion by Naming Rights Holder that it is not receiving adequate Arena Advertising Inventory benefits pursuant to this Agreement by virtue of the fact that neither an NHL nor an NBA franchise plays its home games in the Arena; (iii) failure of KCP to provide the signage substantially as set forth in Sections 1 and 2 of Exhibit A, subject to the limitations set forth herein; or (iv) a default claimed pursuant to Section 15(c)(ii), 15(c)(iii), 15(c)(iv) or 15(c)(v).