Issuance of Additional Partnership Interests Sample Clauses
Issuance of Additional Partnership Interests. The General Partner, in its sole and absolute discretion, may raise all or any portion of the Additional Funds by accepting additional Capital Contributions of cash. The General Partner may also accept additional Capital Contributions of real property or any other non-cash assets. In connection with any such additional Capital Contributions (of cash or property), the General Partner is hereby authorized to cause the Partnership from time to time to issue to Partners (including the General Partner) or other Persons (including, without limitation, in connection with the contribution of tangible or intangible property, services, or other consideration permitted by the Act to the Partnership) additional Partnership Units or other Partnership Interests, which may be Common Units or other Partnership Units issued in one or more classes, or one or more series of any of such classes, with such designations, preferences and relative, participating, optional, conversion, exchange or other special rights, powers, and duties, including rights, powers, and duties senior to then existing Limited Partner Interests, all as shall be determined by the General Partner in its sole and absolute discretion subject to Maryland law, including without limitation, (i) the allocations of items of Partnership income, gain, loss, deduction, and credit to such class or series of Partnership Interests; (ii) the right of each such class or series of Partnership Interests to share in Partnership distributions; (iii) the rights of each such class or series of Partnership Interests upon dissolution and liquidation of the Partnership; and (iv) the right to vote, including, without limitation, the Limited Partner approval rights set forth in Section 11.2.A; provided, that no such additional Partnership Units or other Partnership Interests shall be issued to the General Partner unless either (a) (1) the additional Partnership Interests are issued in connection with the grant, award, or issuance of shares of the General Partner pursuant to Section 4.3.C below, which shares have designations, preferences, and other rights (except voting rights) such that the economic interests attributable to such shares are substantially similar to the designations, preferences and other rights of the additional Partnership Interests issued to the General Partner in accordance with this Section 4.3.B, and (2) the General Partner shall make a Capital Contribution to the Partnership in an amount equal to any net ...
Issuance of Additional Partnership Interests. At any time after the date hereof, without the consent of any Partner, but subject to the provisions of Section 12.2 hereof, the General Partner may, upon its determination that the issuance of additional Partnership Interests is in the best interests of the Partnership, cause the Partnership to issue Partnership Interests to and admit as a limited partner in the Partnership, any Person (the "Additional Limited Partner") in exchange for the contribution by such Person of cash and/or property in such amounts as is determined appropriate by the General Partner to further the purposes of the Partnership under Section 3.1 hereof. In the event that an Additional Limited Partner is admitted to the Partnership pursuant to this Section 4.3:
Issuance of Additional Partnership Interests. Consistent with the provisions of Treasury Regulation Section 1.704-1(b)(2)(iv), upon an issuance of additional interests in the Partnership for cash or property, the Capital Accounts of all Partners shall, immediately prior to such issuance, be adjusted (consistent with the provisions hereof) upward or downward to reflect any unrealized gain or unrealized loss attributable to each Partnership property, as if such unrealized gain or unrealized loss had been recognized upon an actual sale or each such property, immediately prior to such issuance, and had been allocated to the Partners at such time pursuant to Article V. Once such amounts have been determined, the General Partner shall allocate such aggregate value among the properties of the Partnership in a manner it deems reasonable based on the fair market value for individual properties.
Issuance of Additional Partnership Interests. Consistent with the provisions of Treasury Regulation Section 1.704-1(b)(2)(iv), upon the contribution to the Partnership of cash or properties in exchange for additional interests in the Partnership, the Managing General Partner shall make appropriate adjustments to the Capital Accounts (and other Carrying Values of the Partnership’s properties).
Issuance of Additional Partnership Interests. Section 4.2 of the Partnership Agreement is hereby amended to add after Section 4.2.E the following section: F. Class D Units. Under the authority granted to it by Section 4.2.A, the General Partner hereby establishes an additional class of Partnership Units entitled “Class D Units”. Except as expressly set forth in this Agreement, each Class D Unit shall have the same rights, privileges, and obligations as are set forth with respect to the Class A Units in this Agreement.
Issuance of Additional Partnership Interests. Subject to the requirements of Section 2.6 below, the Partnership may issue additional Partnership Interests, rights, options, or warrants exercisable for or convertible into Partnership Interests, or any other equity “securities” of any type whatsoever. Any such Partnership Interests, rights, options, warrants, or securities may be issued for cash, property, services, or such other type, form, and amount of consideration as the General Partner may determine to be appropriate. The term “securities” as used herein and in Section 2.6 below shall not include debt securities or evidences of indebtedness issued in respect of borrowings by the Partnership from third party commercial lenders, the General Partner or its Affiliates.
Issuance of Additional Partnership Interests