INTEREST RECEIVED. In exchange for the Senior Manager’s and/or any Transferor’s (as applicable) contribution of the Contributed Points to Holdings, the Senior Manager and each Transferor shall become a Limited Partner and receive a limited partnership interest in Holdings. A portion of such limited partnership shall be a capital interest and a portion of it shall be a profits interest (within the meaning of IRS Revenue Procedures 93-27 and 2001-43), as set forth in the Holdings LPA. The Senior Manager’s and the Transferor(s)’s, as applicable, initial Ownership Percentage is set forth on Annex A.
Appears in 3 contracts
Sources: Roll Up Agreement, Roll Up Agreement (Apollo Global Management LLC), Roll Up Agreement (Apollo Global Management LLC)