EB-5 Program definition
Examples of EB-5 Program in a sentence
Each Partner acknowledges the reasonableness of this prohibition in view of the purposes of the Company, the EB-5 Program requirements, and the relationship of the Partners.
In conjunction with Section 7.4, the General Partner shall make all decisions and execute all agreements and documents concerning the investigation, selection, negotiation and acquisition of the Loan (or any Reinvestment pursuant to a Replacement Project as provided for in Section 3.4.4 above), including all matters in regard to the satisfaction of the job creation requirements of the EB-5 Program; and make all decisions and execute all agreements and documents concerning all investment decisions.
Upon written request of the Lender the Borrower shall furnish such written evidence that the proceeds have been used for such purposes and periodically furnish such written evidence that establishes the requisite employment created in the Project pursuant to the EB-5 Program and as disclosed in the Private Placement Memorandum.
Lender shall also be solely responsible for monitoring the required submissions to be made by EB-5 Investors and/or their counsel for purposes of obtaining (y) the necessary approvals of I-526 petitions from the USCIS for temporary residency in the United States in accordance with the requirements of the EB-5 Program and (z) the requisite I-829 petition approvals for permanent residency in the United States pursuant to the EB-5 Program.
Borrower shall not, nor shall Borrower suffer, cause, or permit any Person on Borrower’s behalf, to make any payments to any Person for any purpose that could be construed to cause Borrower to have used the proceeds of the Loan for any purpose not consistent with the EB-5 Program, including the creation of the requisite employment in the State of North Carolina required by the EB-5 Program with respect to the Project.