Examples of TCR Member in a sentence
The TCR Member shall promptly advise and inform the BR Member of any transaction, notice, event or proposal directly relating to the management and operation of the Project, other assets of the Company or the Company which is expected to cause a material deviation from the Operating Budget.
The TCR Member (acting under the LLC Agreement) may arrange all or any or the insurance required of Developer through policies providing joint coverage for Owner and Developer in connection with the Project.
The TCR Member shall deliver to the Members for approval the initial proposed Operating Budget for the remainder of the Fiscal Year beginning as of the date of issuance of a certificate of occupancy for any of the residential units in the Project not later than forty-five (45) days before the beginning of that period.
During the construction process, the TCR Member will provide or cause the Developer to provide to the Company and BR Member copies of all draw-related information for the Loan, including but not limited to monthly copies of the construction draws and construction draws top sheets with budget-versus-actual information, plus full physical access to the Property and all documentation of the Company in connection with the development and construction of the Project.
The TCR Member may allow the Company to utilize in the Company’s business certain names, service marks, trademarks and logos that are proprietary to the TCR Member and its Affiliates (including the names “Txxxxxx Xxxx Residential,” “Alexan,” and “TCR” and the “TCR” logo) or variants of such names, service marks, trademarks and logos.
The Total Project Budget may be modified only (i) as may be agreed to by the Members pursuant to Section 7.7, (ii) by the TCR Member to reallocate savings in a line item within the Total Project Budget to another line item within the Total Project Budget or (iii) as allowed by Section 4.2 of the Development Agreement.
The TCR Member is authorized, acting on behalf of the Company, to close the Loan (including execution of all loan documents required by the Lender) and to encumber as security for the Loan the Project and other property of the Company as the Lender requests and the TCR Member considers appropriate.
The Company may not assign such warranty by TCR Member or the General Contractor, but any subcontractor warranties may be assigned by the Company to any third party who purchases the Project from the Company during such period as the subcontractor warranties continue.
The BR Member and the Company each acknowledges that such names, service marks, trademarks and logos are the property of the TCR Member and its Affiliates, and the BR Member and the Company each agrees that the TCR Member or one or more of its Affiliates will own any variants of such names, service marks, trademarks and logos that may be developed by the Company or used in the Company’s business.
The TCR Member may require the Company to discontinue the use of any or all of such names, service marks, trademarks and logos or any variants thereof at any time, in the discretion of the TCR Member.