TOWL definition
Examples of TOWL in a sentence
Buyer and TOWL (by execution hereof) agree to jointly and severally, defend, indemnify and hold harmless the Joint Venture, Prime Retail, L.P., Prime Retail, Inc.
Operating Distributions to TOWL under Section 8A(v)(a) of the Agreement of Joint Venture of the Joint Venture will be 11% per annum (in lieu of 10% per annum) of the amounts stated in such Section to the extent applicable to the Project only (and will remain at 10% per annum with respect to the Birch Run and Williamsburg Projects).
Capital calls in the ratio of 30% BRWH and 70% TOWL will be made to make up any difference between the actual amount of the Permanent Loan to the extent it is at least $44,000,000.00 and the then principal amount of the Mercantile Loan at the time of closing the Permanent Loan and, if necessary, to provide funds for reserves required by the Lender making the Permanent Loan.
The form of the Joint Venture Agreement to be executed by TOWL and Prime Retail, L.P. or an affiliate thereof at or prior to the first closing hereunder, is attached hereto as Exhibit XII.
Buyer and TOWL acknowledge and agree that Seller and its affiliates shall not be responsible for any of the materials provided to the investors in connection with Buyer's and TOWL's contemplated syndication of TOWL's interest in the joint venture.
At closing, the agreement of limited partnership of H'TOWN shall be amended as determined by Prime Retail, L.P. and TOWL and approved by the Lender.