Purpose of Partnership and Investment Objectives Sample Clauses

Purpose of Partnership and Investment Objectives. (a) The principal purpose of the Partnership is to acquire, own, operate. improve, lease and otherwise manage for investment purposes, either alone or in association with others, a portfolio of improved, income-producing mobile home properties as shall from time to time be acquired by the Partnership and which offers the potential for (i) preserving and protecting the Limited Partners' original invested capital; (ii) generating an annual cash flow for distribution to the partners; and (iii) to engage in any and all general business activities related to and incidental to those purposes: provided, however that the Partnership shall not own or lease property jointly in partnership with others unless (a) such partner or joint owner is an independent third person who is not a sponsor, (b) the management of such partnership or joint ownership is under control of the Partnership which has a majority interest therein, (c) the Partnership, as a result of such joint ownership or partnership ownership of an investment property, is not charged, directly or indirectly, more than once for the same services, (d) the joint ownership or partnership does not authorize or require the Partnership to do anything as a partner or joint venturer with respect to the property which the Partnership or the General Partners could not do directly because of this Agreement; and (e) the General Partners and their affiliates are prohibited from receiving any compensation, fees or expenses which are not permitted to be paid by this Agreement. See, however, Article XXI for joint investment with affiliates.
Sample 1
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Purpose of Partnership and Investment Objectives. The principal purpose of the Partnership is to acquire, own, operate, improve, lease and otherwise manage for investment purposes, either alone or in association with others, a portfolio of improved, income-producing mobile home properties as shall from time to time be acquired by the Partnership and which offers the potential for (i) preserving and protecting the Limited Partners' original invested capital; (ii) generating an annual cash flow for distribution to the partners; and (iii) to engage in any and all general business activities related to and incidental to those purposes; provided however that the Partnership shall not own or lease property jointly in partnership with others unless (a) such partner or joint owner is an independent third person who is not a sponsor, (b) the management of such partnership or joint ownership is under control of the Partnership which has a majority interest therein, (c) the Partnership, as a result of such joint ownership or partnership ownership of an investment property, is not charged, directly or indirectly, more than once for the same services, (d) the joint ownership or partnership does not authorize or require the Partnership to do anything as a partner or joint venture with respect to the property which the Partnership or the General Partners could not do directly because of this Agreement; and (e) the General Partners and their affiliates are prohibited from receiving any compensation, fee or expenses which are not permitted to be paid by this Agreement. Until invested in properties (except for reserves), the Partnership may temporarily invest all or a part of its capital contributions in short-term, highly liquid investments with appropriate safety of principal, such as U.S. Treasury Bonds or Bills, insured savings accounts, or similar investments. All properties, except those acquired after January 1, 1995, are to be acquired free and clear of any encumbrances. Unimproved or non income producing property will not be acquired. Investment in junior trust deeds or similar obligations shall be prohibited. In view of the exclusive purposes of the Partnership, none of the parties shall have any obligation with respect to the Partnership or to any of the other parties insofar as making other real estate opportunities available to the Partnership or to any of the other parties. The General Partners and each Limited Partner may, notwithstanding the existence of this Agreement, engage in whatever activities they ch...
Sample 1
Purpose of Partnership and Investment Objectives. The principal purpose of the Partnership is to lend funds in return for Participating Notes secured by deeds of trust on real properties (including apartment buildings, shopping centers, industrial projects, office buildings, and other similar properties) as shall from time to time be acquired by one or more Borrowers or such other entity or entities of which a Borrower is the general partner or managing partner. The Participating Notes offer the potential for (i) preserving and protecting the Limited Partners’ original Invested Capital; (ii) providing quarterly distributions from interest received from the Borrowers or other sources; and (iii) providing special payments to the extent of additional interest received from such Participating Notes; and to engage in any and all general business activities related to and incidental to those purposes; provided, however, that the Partnership shall not own or lease property jointly or in partnership with others. Until funds are fully lent under the Participating Notes (except for reserves), the Partnership may temporarily invest all or a part of its Capital Contributions in short-term, highly liquid investments with appropriate safety of principal, such as U.S. Treasury Bonds or Bills, insured savings accounts, or similar investments, including repurchase agreements, reverse repurchase agreements, or hedge positions with respect to such investments. In view of the exclusive purposes of the Partnership, none of the parties shall have any obligation with respect to the Partnership or to any of the other parties insofar as making other mortgage loans available to the Partnership or to any of the other parties. The General Partner(s) and each Limited Partner may, notwithstanding the existence of this Agreement, engage in whatever activities they choose, whether the same are competitive with the Partnership or otherwise, without having or incurring any obligation to offer any interest ht such activities to the Partnership or any party hereto. The Partners recognize and acknowledge that any Master Loan Agreement to which a Participating Note is attached provides for certain rights and restrictions. These rights and restrictions include, among others, the following: All funds lent by the Partnership to a Borrower, its successors, or assigns will be subject to the rights and restrictions of the form Master Loan Agreement and the Participating Note, as more particularly set forth in Appendix “C” to the Prospectus of the P...
Sample 1
Purpose of Partnership and Investment Objectives. The principal purpose of the Partnership is to lend funds in return for Participating Notes secured by deeds of trust on real properties (including apartment buildings, shopping centers, industrial projects, office buildings, and other similar properties) as shall from time to time be acquired by one or more Borrowers or such other entity or entities of which a Borrower is the general partner or managing partner and to engage in any and all general business activities related and incidental to those purposes, including, without limitation, the acquisition, ownership, improvement, redevelopment (including demolition and rebuilding), management, operation, leasing, financing, refinancing, sale or exchange of any real or personal property (including the transfer of such property to a single-purpose wholly-owned subsidiary of the Partnership) obtained (a) in connection with the exercise of any remedy available to the Partnership under the Participating Notes or the Master Loan Agreement, or (b) in a transaction ( a “1031 Transaction”) that is intended to be a like-kind exchange under Section 1031 of the Internal Revenue Code of 1986, as amended, or any successor statute, at law or in equity (including, without limitation with respect to both clauses (a) and (b), those properties commonly known as (i) Cedar Rim in New Castle, Washington, (ii) Hidden Cove by the Lake in Belleville, Michigan, (iii) Lamplighter Park in Bellevue, Washington, (iv) Park Capitol in Salt Lake City, Utah, (v) Tamarac Village I — IV in Denver, Colorado, (vi) Williamsburg Manor in Cary, North Carolina, and (vii) Sienna Bay (f/k/a Sandpiper I and II) in St. Petersburg, Florida); provided, however, that the Partnership shall not own or lease property jointly or in partnership with others but it may transfer any such property to a single-purpose wholly-owned subsidiary. The Participating Notes offer the potential for: (i) preserving and protecting the Limited Partners’ original Invested Capital; (ii) providing quarterly distributions from interest received from the Borrowers or other sources; and (iii) providing special payments to the extent of additional interest received from such Participating Notes.”
Sample 1

Related to Purpose of Partnership and Investment Objectives

  • Purpose of Partnership The exclusive purpose of the Partnership shall be (i) to own and operate those certain restaurants known as Outback Steakhouse® at those addresses listed on Exhibit A, and such additional restaurants, if any, as may be approved by the Company in its sole discretion and as may hereafter be established by the Partnership (individually, the “Restaurant,” or collectively, the “Restaurants”), utilizing the System and the Proprietary Marks owned by or licensed to the Company and (ii) to engage in any other lawful act, business or activity for which limited partnerships may be formed under the Act and engage in any and all activities necessary, advisable, convenient or incidental thereto. The Limited Partners acknowledge and agree that as between the parties hereto, the Company is the sole and exclusive owner of the System and the Proprietary Marks and neither the Limited Partners nor the Partnership have any right, title, or interest in or to the System or the Proprietary Marks, except as specifically provided in Section 4.5 hereof. Nothing contained herein shall be construed as granting the Partnership or any Partner any exclusive or protected trading area. Nothing contained herein shall be construed as obligating the Company to open additional restaurants on behalf of the Partnership or to authorize the Partnership to open additional Restaurants. Nothing contained herein shall be construed as limiting the Company’s, or its Affiliates’, right to open, or license others to open, Outback Steakhouse® restaurants at any location, and neither the Partnership nor any Limited Partner shall have any interest in such restaurants.

  • Investment Objective The Trust was created to invest and hold substantially all of its assets in Gold Coins. The Trust seeks to provide a secure, convenient and exchange-traded investment alternative for investors interested in holding physical gold without the inconvenience that is typical of a direct investment in physical gold. The Trust does not anticipate making regular cash distributions to Unitholders.

  • Investment Objectives The investment objectives and guidelines for the Account will be communicated in writing by the Client from time to time. ING-IM will utilize these objectives in managing the Account.

  • Revisions to Allocations to Reflect Issuance of Partnership Interests If the Partnership issues Partnership Interests to the General Partner or any additional Limited Partner pursuant to Article IV, the General Partner shall make such revisions to this Article 6 and Exhibit B as it deems necessary to reflect the terms of the issuance of such Partnership Interests, including making preferential allocations to classes of Partnership Interests that are entitled thereto. Such revisions shall not require the consent or approval of any other Partner.

  • INVESTMENT OBJECTIVE, POLICIES AND RESTRICTIONS The Fund will provide the Sub-Adviser with the statement of investment objective, policies and restrictions applicable to the Series as contained in the Series' Prospectus and Statement of Additional Information, all amendments or supplements to the Prospectus and Statement of Additional Information, and any instructions adopted by the Board of Trustees supplemental thereto. The Fund agrees, on an ongoing basis, to notify the Sub-Adviser in writing of each change in the fundamental and non-fundamental investment policies of the Series and will provide the Sub-Adviser with such further information concerning the investment objective, policies, restrictions and such other information applicable thereto as the Sub-Adviser may from time to time reasonably request for performance of its obligations under this Agreement. The Fund retains the right, on written notice to the Sub-Adviser or the Adviser, to modify any such objective, policies or restrictions in accordance with applicable laws, at any time.

  • Formation of Partnership The Partnership was formed on August 3, 2018 pursuant to the provisions of the Delaware Act.

  • Purpose of the Partnership The purpose of the Partnership is to acquire, construct, own and operate the Apartment Housing in order to provide, in part, Tax Credits to the Partners in accordance with the provisions of the Code and the Treasury Regulations applicable to LIHTC and to sell the Apartment Housing. The Partnership shall not engage in any business or activity which is not incident to the attainment of such purpose.

  • CAPITAL CONTRIBUTIONS AND ISSUANCE OF PARTNERSHIP INTERESTS Section 5.1 Organizational Contributions; Contributions by the General Partner and its Affiliates 40 Section 5.2 Contributions by Initial Limited Partners 41 Section 5.3 Interest and Withdrawal 41 Section 5.4 Capital Accounts 41 Section 5.5 Issuances of Additional Partnership Interests and Derivative Instruments 45 Section 5.6 Conversion of Subordinated Units 46 Section 5.7 Limited Preemptive Right 47 Section 5.8 Splits and Combinations 47 Section 5.9 Fully Paid and Non-Assessable Nature of Limited Partner Interests 48 Section 5.10 Issuance of Common Units in Connection with Reset of Incentive Distribution Rights 48 Section 5.11 Establishment of Series A Preferred Units 50 Section 5.12 Deemed Capital Contributions 63 ARTICLE VI

  • Management of Partnership Section 2.01

  • Termination of Partnership The Partnership shall terminate when all assets of the Partnership, after payment of or due provision for all Liabilities of the Partnership, shall have been distributed to the Partners in the manner provided for in this Agreement, and the Certificate shall have been canceled in the manner provided by the Act.

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