Property GPs definition
Examples of Property GPs in a sentence
The Mohawk Parties shall cause to be delivered to the Invesque Parties on the Closing Date the resignations of all of the trustees, directors and officers of the REIT and its Subsidiaries, and the GP Shareholders shall cause to be delivered to the Invesque Parties on the Closing Date the resignations of all of the managers, directors and officers of the US Property GPs, such resignations to be effective immediately following the Closing.
None of the US Property GPs has any Subsidiaries (provided that, for greater certainty, the Property LPs shall be deemed not to constitute Subsidiaries of the US Property GPs).
Each of the US Property GPs is duly qualified to carry on its activities and is in good standing in each jurisdiction in which the conduct of its activities or the ownership, leasing or operation of its property and assets, requires such qualification.
Since the date of their respective formation, except as set forth on Schedule 4.1(j) hereto none of the US Property GPs has incurred any Indebtedness, or carried on any business or activity other than acting as the general partner of the Property LP for which it acts as general partner on the date of this Agreement.
Each of the US Property GPs is either a limited liability company duly formed, validly existing and in good standing under the Laws of the State of Delaware or a corporation duly formed, validly existing and in good standing under the Laws of the Province of Ontario.
Each of the US Property GPs is authorized to issue an unlimited number of class A common shares and class B common shares.
None of the US Property GPs has incurred any obligation or liability with respect to or under any Employee Plan, program or arrangement (including any agreement, program, policy or other arrangement under which any current or former employee, director, trustee or consultant has any present or future right to benefits), which has created or will create any obligation with respect to, or has resulted in or will result in any liability to the Invesque Parties or any of their Subsidiaries.
None of the GP Shareholders or the US Property GPs have ever offered, made or received on behalf of itself or its Affiliates, any illegal payment or contribution of any kind, directly or indirectly, including, without limitation, illegal payments, gifts or gratuities to any Person, including any Canadian, United States or foreign national, state or local government officials, employees or agents or candidates therefor.
The Mohawk Parties shall discharge, and the Mohawk Parties shall cause their Subsidiaries to discharge, and the GP Shareholders shall cause the US Property GPs to discharge, all Encumbrances other than Permitted Encumbrances on or prior to the Closing, except to the extent provided for herein.