Star Southfield definition
Examples of Star Southfield in a sentence
Section 1.752-3(a)(3), but solely to the extent such excess nonrecourse liabilities relate to Star Southfield liabilities and only for the purpose of determining ▇▇▇▇▇’ share of Partnership liabilities for federal income tax purposes under Section 752 of the Code.
Notwithstanding anything to the contrary contained in the Partnership Agreement, ▇▇▇▇▇ shall also receive the special allocations with respect to Star Southfield, Restaurant Company, and the Lease provided for in Section 2 of the Third Amendment, which special allocations shall be in addition to the 50% allocation described in the previous sentence.
The obligations of the Partnership to ▇▇▇▇▇ under this Section 8 shall survive any transfer or termination of the Retained 1% Interest, the Star Southfield Interest, or the ▇▇▇▇▇ Management Rights.
The Partnership shall pay ▇▇▇▇▇ 50% of the amounts collected on account of the Star Southfield Receivable as amounts are received by the Partnership in payment of the Star Southfield Receivable.
The obligations of the Partnership under this Section 10 shall survive any transfer or termination of the Retained 1% Interest, the Star Southfield Interest, or the ▇▇▇▇▇ Management Rights.
Thereafter, the Star Southfield Interest and the ▇▇▇▇▇ Management Rights shall terminate.
Within five business days after the Partnership’s collection of any portion of the Star Southfield Receivable, 50% of the amount collected shall be paid by the Partnership to ▇▇▇▇▇.
The obligations of the Partnership to ▇▇▇▇▇ under this Section 7 shall survive any transfer or termination of the Retained 1% Interest, the Star Southfield Interest, or the ▇▇▇▇▇ Management Rights.
Not permit Tangible Net Worth to be less than $20,000,000 at any time, provided that such minimum Tangible Net Worth requirement shall be increased by 15% of the Company's net profit each year, commencing with the Fiscal Year ending February 28, 2000, provided that the Company's current investment in Star Southfield may be included in the calculation of Tangible Net Worth only so long as there is no default with respect to Star Southfield's indebtedness to MNB.