Limited Partnership Interest. Subject to the terms and conditions of this Agreement and the Partnership Agreement, herein incorporated by reference and included as EXHIBIT A to this Agreement, LP hereby gives to NLP a Limited Partnership Interest equal to the proportionate share attributable to NLP in accordance with the formula set forth in Section 15.01 of the Partnership Agreement and reflected in EXHIBIT A of the Partnership Agreement, as updated from time to time. This Limited Partnership Interest entitles NLP to participate as a Limited Partner in LP, with voting rights equal to NLP’s Limited Partnership Interest in LP.
Limited Partnership Interest. Upon any additional Capital Contribution by a Partner or any Distribution to a Partner (other than pursuant to a dissolution of the Limited Partnership), the General Partner shall determine the value of the Capital Contribution from or Distribution to such Partner as a proportion of the total current value of all Limited Partnership Property immediately prior to such Capital Contribution or Distribution. The General Partner shall then calculate revised Limited Partnership Interests for each of the Partners so that the Limited Partnership Interests following such Capital Contribution or Distribution shall reflect the value of the Limited Partnership Interest of each Partner prior to such Capital Contribution or Distribution as so determined.
Limited Partnership Interest. A Limited Partnership Interest shall for all purposes be personal property. A Limited Partner has no interest in specific Partnership property.
Limited Partnership Interest. Subject to the conditions set forth below, CRESA agrees to make a capital contribution of Two Hundred Thousand Dollars ($200,000) (the “Investment”) to Capital Markets, as consideration for a limited partnership interest in Capital Markets (the “CRESA Equity”). The terms and conditions of such capital contribution, and the rights and preferences of CRESA as a limited partner of Capital Markets, shall be as mutually agreed by CRESA and Capital Markets, subject to the following: Capital Markets shall be required to redeem the CRESA Equity on or before December 31, 2005, for an amount equal to the Investment plus interest accruing at the rate of twelve percent (12%) per annum, compounding annually, from the date of the Investment to the date of redemption. At any time prior to December 31, 2005, the CRESA Equity may, at the sole discretion of Capital Markets, be redeemed in whole or in part upon the payment to CRESA of all or a portion of the Investment along with the accrued interest on the portion of the Investment being redeemed.
Limited Partnership Interest. A Partnership Interest of a Limited Partner in its capacity as a Limited Partner.
Limited Partnership Interest. Subject to the terms and conditions of this Agreement and the Partnership Agreement, herein incorporated by reference and included as Exhibit A to this Agreement, LP hereby gives to NLP a Limited Partnership Interest of one millionth percent (0.000001%) of LP. This Limited Partnership Interest entitles NLP to participate as Limited Partner in LP, with voting rights equal to NLP’s Limited Partnership Interest in LP. NLP acknowledges and agrees that LP is a nonprofit entity, and that neither NLP nor any other person is entitled to distributions of any kind from LP (other than as stipulated in the Partnership Agreement and as permitted by law), including distributions upon the dissolution of LP. NLP is joining LP to participate in its mission and nonprofit work.
Limited Partnership Interest. The General Partner shall also be (and shall be treated as) a Limited Partner to the extent, if any, that it shall acquire a Partnership Interest of a Limited Partner under this Partnership Agreement.
Limited Partnership Interest. Following the consumation of the purchase of the Initial Interest by Buyer and the acquisition of Salvxxxxxxx'x xxxerest in the Company by Seller, Buyer shall be the sole limited partner of the Company.
Limited Partnership Interest. Subject to the terms and conditions of this Agreement, on the Closing Date (as such term is defined below), Seller shall sell, transfer and deliver the Limited Partnership Interest to Buyer, and Buyer shall purchase the Limited Partnership Interest from Seller.
Limited Partnership Interest. MHI Hotels has agreed to sell, and transfer to Sotherly Hotels LP, a Delaware limited partnership, all right, title and interest of MHI Hotels in and to the Limited Partnership Interest. The sale and closing of the Limited Partnership Interest is to occur at the same time as the sale of the Target General Partnership Interest.
