RTB definition
Examples of RTB in a sentence
Description: BAIF submits all necessary applications for permits, licenses, or authorizations required for Project development, as described in Annex B (RTB criteria).
The sale may be initiated whenever the Joint Committee of Partners deems it strategically opportune to maximize the value of the SPV and the interests of the Joint Venture, including the possibility of transactions prior to RTB.
From that date, the Project shall be formally considered RTB for all purposes of this Agreement.
Once the RTB status of each Project has been achieved, the Parties shall collaborate in the sale to third parties (external buyers) of the corresponding project company, with the purpose of maximizing value for the partners and obtaining proportional recovery and distribution of profits as established in this Agreement.
If EDGM does not respond within the ten (10) Business Day period, or acknowledges that the requirements have been satisfied, the Project shall be deemed to have achieved RTB as of BAIF’s initial notice.