Partnership Properties Sample Clauses
The 'Partnership Properties' clause defines which assets are considered the property of the partnership rather than of the individual partners. It typically outlines how property acquired by the partnership, whether through purchase, contribution, or other means, is to be held and managed collectively. For example, real estate, equipment, or intellectual property bought with partnership funds would fall under this definition. This clause ensures clarity regarding ownership and use of assets, preventing disputes among partners and protecting partnership property from individual claims.
Partnership Properties. All the Partnership’s interest of whatever nature, including but not limited to all royalties, overriding royalties, mineral interests, working interests, net profits interests, production payments, and other interests, whether now owned or acquired hereafter, in (a) the Leases described on Exhibit A; (b) W▇▇▇▇; (c) any additional leases or mineral interests acquired by the Partnership; (d) any properties now or hereafter pooled or unitized with the Leases or W▇▇▇▇; (e) all presently existing or future unitization agreements, communitization agreements, pooling agreements, and declarations of pooled units and the units created thereby, affecting all or any portion of the Leases or W▇▇▇▇; (f) all operating agreements, contracts, subleases, farmins, farmouts, production sale, hedging, and other agreements which relate to any of the Leases or W▇▇▇▇ or which relate to the production, sale, purchase, exchange, or processing of oil or gas from or attributable to the Leases or W▇▇▇▇; (g) all easements, rights- of-way, leases, surface use agreements, road use agreements, and other agreements relating to the Leases or W▇▇▇▇; (h) all geological, geophysical, engineering, accounting, title, legal and other technical or business data concerning the Leases and W▇▇▇▇; (i) all rents, proceeds, products, revenues, depletion deductions and other income or deduction from or attributable to the Leases and the W▇▇▇▇; (j) all unsevered and unextracted oil, gas or other minerals; and (k) all Executive Rights relating to any of the foregoing. Partnership Representative. As used in this Agreement, the Partnership Representative shall mean the partnership representative required to be designated by Code Section 6223, as amended, for the tax years ending on a date subsequent to December 31, 2017. The Partnership Representative shall be the Managing Partner. Person. An individual, trust, estate, or any incorporated or unincorporated entity, including any general or limited partnership, limited liability company, corporation, joint venture, association, cooperative, government or governmental subdivision or agency and any other legally cognizable entity, and all heirs, executors, administrators, legal representatives, successors and assigns of such Person where permitted or required by the context.
Partnership Properties. Any and all property acquired or leased by the Partnership.
Partnership Properties. (a) The Buyer and the Seller acknowledge that the parcels of real estate identified on EXHIBIT A-2 hereto as "Partnership Properties") are owned by partnerships of which the Seller is the general partner and that, as set forth on EXHIBIT L hereto, the consent of the limited partners of such partnerships is required to effect the sale of such Partnership Properties. Subject to Section 1.5(b) through (d), between the date hereof and thirty (30) days after the date hereof, the Seller shall use commercially reasonable efforts to obtain all such required consents and to cause such partnerships to sell such Partnership Properties to the Buyer on the terms provided herein. When any Partnership Property becomes a Property under the terms hereof, the Seller shall cause any such partnership to sell such Partnership Property to the Buyer on, and subject to, the terms hereof.
(b) Within thirty (30) days after the date hereof, the Seller may give written notice to the Buyer that the Seller has obtained the required consents (such consents to be reasonably satisfactory to the Buyer) with respect to a particular Partnership Property, that such Partnership Property is to become a Property and that the Buyer may begin its diligence with respect to such Partnership Property. If the Seller delivers such a notice with respect to a particular Partnership Property, such Partnership Property shall become a Property to be purchased by the Buyer hereunder at its Partnership Property Price, subject to such Partnership Property being deemed a Deleted Property or a Deferred Property and subject to the other terms and conditions hereof.
(c) If, within such thirty (30) days, the Seller does not deliver such a notice with respect to a particular Partnership Property, such Partnership Property shall not become a Property.
(d) If the Seller has delivered such a notice with respect to a particular Partnership Property, but such required consents are terminated, cancelled or otherwise negated
Partnership Properties. The term "Partnership Properties" shall mean those certain properties described on Exhibit C to this Loan Agreement which are owned by HCP and NHP, as the case may be.