MN Retail definition
Examples of MN Retail in a sentence
Without limiting the generality of the foregoing, Manager agrees that under any circumstance where any action, expenditure, decision, commitment, agreement, consent or approval would, under the Company LLC Agreement, require the consent or approval of MN Retail, Manager shall not have the authority under this Agreement to take such action, make such expenditure, decision, commitment or agreement or grant such consent or approval unless and until Manager has received the written approval of MN Retail.
Manager acknowledges that it is an Affiliate of Operating Member (the current Managing Member of the Company), and has reviewed the Company LLC Agreement and is familiar with those actions, expenditures, decisions, commitments, agreements, consents and approvals requiring the consent or approval of MN Retail.
Manager hereby covenants and agrees that so long as this Agreement remains in force, Manager will not become manager and/or leasing agent for any other office or industrial properties that is a Competing Opportunity (as defined in the Company LLC Agreement), unless MN Retail or its Affiliates have failed to accept a ROFO Opportunity (as defined in the Company LLC Agreement) with respect to such Competing Opportunity in accordance with the terms and conditions of the Company LLC Agreement.
MN Retail Grand Avenue Partners, LLC, a Delaware limited liability company ("MN Retail"), GLB SGO MN, LLC, a Delaware limited liability company ("Operating Member"), and SRT SGO MN, LLC ("SRT"), have entered into that certain Limited Liability Company Agreement of SGO MN Retail Acquisitions Venture, LLC ("Owner") dated as of September 30, 2015 (as amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof, the "Company LLC Agreement").
Managing Member shall cause audits to be performed and audited statements and income tax returns to be prepared as required by Section 8.03 (provided that Managing Member shall, for so long as it diligently performs its obligations hereunder, not be responsible for the delays of any other non-Affiliated Member or reputable accountants or auditors retained by Managing Member or at the request of MN Retail on behalf of the Company).
Notwithstanding the foregoing provisions of this Section 9.06(d), none of REIT’s rights under this Section 9.06(d) shall apply to any Transfer of any Category B Interest by or any direct or indirect member of or partner in MN Retail to any of their respective Affiliates; provided, however, that if MN Retail sells its Category B Interest to a third party which is not an Affiliate of MN Retail, such sale shall be subject to the provisions of this Section 9.06(d).
If MN Retail or any MN Retail Party elects to pursue a ROFO Opportunity, then any agreement entered into between Operating Member and MN Retail, or the applicable MN Retail Party, shall provide that Operating Member must contribute not less than ten percent (10%) toward the total capitalization of the ROFO Opportunity.
MN Retail shall have the right from time to time to audit the books and records of the Company, at MN Retail’s expense.
L▇▇ ▇▇▇▇▇ Its: Senior Vice-President SGO MN Westgate Shopping Center, LLC, a Delaware limited liability company, By: SGO MN Retail Acquisitions Venture, LLC, a Delaware limited liability company, its Sole Member By: GLB SGO MN, LLC, a Delaware limited liability company its Managing Member By: /s/ G.
Notwithstanding anything to the contrary contained in this Agreement, MN Retail or its Affiliate may engage an external third party consultant to advise it in connection with this Agreement or the Company Property and any fees and expenses incurred by MN Retail or its Affiliate in connection therewith shall be treated as an expense of the Company and be promptly reimbursed to MN Retail upon request, provided, however, that any fee paid to such consultant shall be subject to a cap of $100,000 per year.