Equity Partner Sample Clauses

Equity Partner. (a) In addition to the rights of Mill▇ ▇▇▇ TMLP to transfer portions of their Partnership Interests pursuant to Article XI hereof, Mill▇ ▇▇▇ TMLP also shall have the right to transfer all or portions of their respective Partnership Interests, up to a maximum of fifty percent (50%) of their combined Partnership Interests (i.e., up to a maximum 33.33% Partnership Interest) to one or more equity partners (an "Initial Equity Partner"). Any such Initial Equity Partner shall have the option to acquire its Partnership Interest as a General Partner, a Limited Partner, or both. OAI shall have the right to Consent, in advance, to the Initial Equity Partner selected by Mill▇; ▇▇on the granting of such Consent, Mill▇ ▇▇▇ll have the right to conclude such a transaction with the approved Initial Equity Partner under such terms and conditions as may be consistent with this Agreement. (b) In the event additional Equity Partners are deemed necessary for the development of the Project, or in the event such Equity Partners require, as a condition to contributing equity in excess of the amount contemplated by the Project Development Budget, that such Equity Partner acquire a Partnership Interest in excess of 33.33% (in either case, an "Additional Equity Partner"), then the Partnership Interests held by Mill▇, ▇▇LP and OAI shall be diluted proportionately in order to provide such additional interest to the Additional Equity Partner. The decision to provide such additional Partnership Interest to an Additional Equity Partner shall be deemed a Major Decision that shall require the Consent of the General Partners.