Silver Circle definition
Examples of Silver Circle in a sentence
This Agreement contains the entire understanding and agreement among the Partners with respect to the subject matter hereof, and there are no other agreements, understandings, representations or warranties among the Partners other than those set forth herein except as set forth in (a) that certain Purchase and Sale Agreement dated as of February 6, 2002 between Silver Circle and ▇▇▇ ▇.
The expense of the Philadelphia Taxes will be borne solely by Silver Circle who shall be obligated to contribute the amount of the Philadelphia Taxes to the Partnership's capital each period in time to enable the Partnership to pay such taxes promptly, and the Partnership will charge the expense of the Philadelphia Taxes one hundred percent (100%) to Silver Circle's Capital Account.
Pursuant to the terms of that certain Amended and Restated Limited Partnership Agreement of API Red Lion Shopping Center Associates (the "Restated Partnership Agreement"), of even date herewith, GP replaced Silver Circle Management Corp.
If Silver Circle fails to make such contributions promptly, the amount of any deficiency will constitute a demand loan from the Partnership to Silver Circle that bears interest at a rate equal to the Prime Rate plus three percent (3.00%) per annum, or if less, the highest rate allowed by law.
The Partners acknowledge that immediately prior to the execution hereof, cash in the Partnership's operating accounts, equal to $________, would have been distributable to Silver Circle.
Upon any sale of the Property or refinancing of the Salomon Brothers Loan, the Partnership shall make a priority distribution to Silver Circle in the amount of the Advance before any other distributions are made to the Partners.
Notwithstanding the foregoing, ARC shall not share in any fees payable by Silver Circle Management Corp.
Each year, the expense of the Philadelphia Taxes shall be allocated solely to the Capital Account of Silver Circle in accordance with Section 3.2 hereof.
In the event the closing under the ARC Agreement occurs prior to, or simultaneously with, the Closing (and Seller, pursuant to that closing, has already delivered, or is delivering, simultaneously herewith, the Silver Circle Pledge), Seller shall not be required to deliver the Silver Circle Pledge in connection with the Closing.
Silver Circle shall have right to use the amount of reserves held by the Lender on the date hereof to pay for future tenant improvements and/or leasing commissions in accordance with (i) the Agreement for Purchase and Sale of Partnership Interests dated as of February 6, 2002, among Silver Circle, ▇▇▇ ▇.