KBS Clause Samples

The KBS clause typically refers to provisions related to Knowledge-Based Systems or Key Business Systems within a contract. This clause outlines the responsibilities, access rights, or maintenance obligations concerning specific information systems that are critical to the business operations of one or both parties. For example, it may specify how updates, data sharing, or system integrations are to be handled between the parties. The core function of the KBS clause is to ensure that essential business systems are properly managed and that both parties understand their roles and obligations regarding these systems, thereby reducing operational risks and misunderstandings.
KBS. KBS shall contribute to the capital of the Company, in cash, an aggregate amount equal to 90% of the initial equity necessary to capitalize the Company, which is equal to $__________. KBS will fund all of its required initial capital prior to or at the Property Closing.
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KBS. KBS shall contribute to the capital of the Company, in cash, an aggregate amount equal to 90% of the initial equity necessary to acquire the Project, capitalize the Company and to fund equity for the Renovations, which is equal to $22,365,000. To this end, upon the full execution of this Agreement, KBS will (i) deposit the $700,000 Second Deposit with the escrow agent under the Purchase Agreement, and (ii) reimburse JV Member in the amount of $200,000 (which is the amount necessary for KBS and JV Member to have a 90/10 allocation in the $1,000,000 aggregate Deposit under the Purchase Agreement). KBS will fund $17,388,000 of its required initial capital prior to or at the Property Closing. The remainder of the KBS’s required initial capital contribution pertains to the Renovation and shall be funded on a monthly basis pursuant to a monthly draw protocol administered by Manager.
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KBS. KBS shall commit to contribute to the capital of the Company, in cash, as follows:
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KBS. KBS shall commit to contribute to the capital of the Company, in cash, an aggregate amount equal to sixty percent (60%) of the initial equity necessary to acquire the Project and capitalize the Company which shall be which shall be payable as follows: (i) upon the full execution of this Agreement and subject to the full execution of the Purchase Agreement, KBS will contribute the sum of nine million dollars ($9,000,000), which shall be used as 60% of the sum of the Deposit; and (ii) at the closing of the acquisition of the Project, KBS will contribute the balance of its capital contribution in an amount equal to forty-eight million nine hundred fifty thousand three hundred seventy-six dollars ($48,950,376). Co-Managing Member’s initial capital contribution is based on the sources and uses schedule attached hereto as Exhibit C. For avoidance of doubt, KBS and JV Member acknowledge that the Contract Purchaser funded the entire amount of the Deposit under the Purchase Agreement and that the Members initial capital contributions described in Sections 3.01(a)(i) and Section 3.01(b)(i) will be used to reimburse the Contract Purchaser for such amounts as part of the assignment of the Purchase Agreement from the Contract Purchaser to the Property Owner Subsidiary pursuant to Section 1.03.
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KBS. KBS shall contribute to the capital of the Company, in cash, an aggregate amount equal to 90% of the initial equity necessary to acquire the Project and capitalize the Company, as follows: (i) when due pursuant to the Purchase Agreement, KBS will fund $460,800, which is ninety percent (90%) of the $512,000 Initial Deposit under the Purchase Agreement, (ii) when due under the Purchase Agreement, JV Member will fund ninety percent (90%) of the Additional Deposit and the Franchise Deposit (if applicable) under the Purchase Agreement, and (iii) KBS will fund the remainder of its required initial capital when due hereunder prior to or at the Property Closing. KBS shall also pay its pro rate share of the PIP required by the Hotel Management Agreement in accordance with its Percentage Interest as and when required pursuant to the Hotel Management Agreement.
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Related to KBS

  • Asset Management Supplier will: i) maintain an asset inventory of all media and equipment where Accenture Data is stored. Access to such media and equipment will be restricted to authorized Personnel; ii) classify Accenture Data so that it is properly identified and access to it is appropriately restricted; iii) maintain an acceptable use policy with restrictions on printing Accenture Data and procedures for appropriately disposing of printed materials that contain Accenture Data when such data is no longer needed under the Agreement; iv) maintain an appropriate approval process whereby Supplier’s approval is required prior to its Personnel storing Accenture Data on portable devices, remotely accessing Accenture Data, or processing such data outside of Supplier facilities. If remote access is approved, Personnel will use multi-factor authentication, which may include the use of smart cards with certificates, One Time Password (OTP) tokens, and biometrics.

  • Limited Liability Company Agreement The Member hereby states that except as otherwise provided by the Act or the Certificate of Formation, the Company shall be operated subject to the terms and conditions of this Agreement.

  • Real Estate Investment Trust Commencing with its taxable year ended December 31, 2009, the Company has been organized and operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Code, and its proposed method of operation will enable it to continue to meet the requirements for qualification and taxation as a REIT under the Code.

  • HOSPITALITY The College shall ensure that a comprehensive set of guidelines on the provision of hospitality is in place in line with DoF guidance.

  • REIT A “real estate investment trust” under Sections 856 through 860 of the Code or as may be amended. Sale or Sales. Any transaction or series of transactions whereby: (i) the Company or the Operating Partnership directly or indirectly (except as described in other subsections of this definition) sells, grants, transfers, conveys, or relinquishes its ownership of any Real Property or portion thereof, including the lease of any Real Property consisting of a building only, and including any event with respect to any Real Property which gives rise to a significant amount of insurance proceeds or condemnation awards; (ii) the Company or the Operating Partnership directly or indirectly (except as described in other subsections of this definition) sells, grants, transfers, conveys, or relinquishes its ownership of all or substantially all of the interest of the Corporation or the Operating Partnership in any Joint Venture in which it is a co-venturer or partner; (iii) any Joint Venture directly or indirectly (except as described in other subsections of this definition) in which the Company or the Operating Partnership as a co-venturer or partner sells, grants, transfers, conveys, or relinquishes its ownership of any Real Property or portion thereof, including any event with respect to any Real Property which gives rise to insurance claims or condemnation awards; or (iv) the Company or the Operating Partnership directly or indirectly (except as described in other subsections of this definition) sells, grants, conveys or relinquishes its interest in any Real Estate Related Asset or portion thereof (including with respect to any Mortgage, all payments thereunder or in satisfaction thereof other than regularly scheduled interest payments) of amounts owed pursuant to such Mortgage and any event which gives rise to a significant amount of insurance proceeds or similar awards; or (v) the Company or the Operating Partnership directly or indirectly (except as described in other subsections of this definition) sells, grants, transfers, conveys, or relinquishes its ownership of any other asset not previously described in this definition or any portion thereof, but not including any transaction or series of transactions specified in clauses (i) through (v) above in which the proceeds of such transaction or series of transactions are reinvested by the Company in one or more assets within 180 days thereafter.