a Partnership definition

a Partnership means a body of persons carrying on a business in common with a view to profit, within the meaning of the Partnership Act 1890.
View Source
a Partnership. Interest issued to Ferrellgas in connection with the transfer of its assets to the Partnership pursuant to Section 4.2, which Partnership Interest shall confer upon the holder thereof only the rights and obligations specifically provided in this Agreement with respect to IDRs (and no other rights otherwise available to holders of a Partnership Interest).
View Source

Examples of a Partnership in a sentence

  • The Members specifically acknowledge, without limiting the general applicability of this Section 5.2, that the Partnership Representative will not be liable, responsible or accountable in damages or otherwise to the Company or any Member with respect to any action taken by it in its capacity as a Partnership Representative, except for bad faith, fraud, gross negligence, willful misconduct or breach of fiduciary duty.

  • Upon the death of one owner of a Partnership Interest held in a joint tenancy with a right of survivorship, the Partnership Interest shall become owned solely by the survivor as a Limited Partner and not as an assignee.

  • Any transfer or purported transfer of a Partnership Interest not made in accordance with this Article IV shall be null and void.

  • Any transfer or purported transfer of a Partnership Interest not made in accordance with this Article 11 shall be null and void.

  • The Survivor shall in good faith arrive at a new method for the calculation of the Cash Amount, the REIT Shares Amount and Conversion Factor for a Partnership Unit after any such merger or consolidation so as to approximate the existing method for such calculation as closely as reasonably possible.

  • In the case of such admission on any day other than the first day of a Partnership Year, all items attributable to the General Partner Interest for such Partnership Year shall be allocated between the transferring General Partner and such successor as provided in Article 11.

  • Any transfer of a Partnership Interest shall be made only to Qualified Transferees.

  • Any transfer or purported transfer of a Partnership Interest not made in accordance with this Article XI shall be null and void.

  • Whenever any Partner exercises any option or right to purchase a Partnership Interest pursuant to this Agreement, the selling Partner shall do all things and execute and deliver all deeds, conveyance and other instruments to consummate such purchase and effect a valid transfer of the Partnership Interest.

  • The Partners hereby agree that no Partner, nor any successor in interest of any Partner, shall have the right to have any Partnership assets partitioned, or to file a complaint or institute any proceedings of law or equity to have a Partnership asset partitioned, and each Partner, on behalf of itself, its successors and assigns, hereby waives any such rights.

Related to a Partnership

  • General partnership means an organization formed by two or more persons under chapters 45-13 through 45-21.

  • Operating Partnership has the meaning set forth in the preamble.

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Partnership has the meaning set forth in the preamble of this Agreement.

  • Partnership Subsidiary means (i) any entity of which a majority of the outstanding voting stock or voting power is beneficially owned directly or indirectly by the Partnership, or (ii) any partnership or limited liability company of which 50% or more of the capital and profits interest is owned, directly or indirectly, by the Partnership or by one or more Partnership Subsidiaries or by the Partnership and one or more Partnership Subsidiaries.