Definition of TCR Permitted Transfers

  1. TCR Permitted Transfers means a Transfer of membership interests in Borrower by TCR Member to Bluerock Member; provided that if the Transfer of membership interests by TCR Member occurs prior to final completion of construction of the Improvements, the Pre-Completion Transfer Requirements must have been satisfied.

Definition of TCR Permitted Transfers in Construction Loan Agreement

TCR Permitted Transfers means a Transfer of membership interests in Borrower by TCR Member to Bluerock Member; provided that if the Transfer of membership interests by TCR Member occurs prior to final completion of construction of the Improvements, the Pre-Completion Transfer Requirements must have been satisfied.