Common LP definition

Common LP means a limited partnership in the Onshore Feeder that is a “Common LP” as such term is defined in Section 7(c) of the Onshore Feeder’s Partnership Agreement (or in the case of an any additional Feeder Fund, the meaning given to such term pursuant to the Organizational Documents of such Feeder Fund as of the date such entity is added under Section 7.05 hereof).
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Examples of Common LP in a sentence

  • The General Partner may be removed or replaced only with the written consent of Limited Partners holding a majority of the Common LP Interests and Preferred LP Interests.

  • All of the Common GP Units and Subordinated GP Units shall convert into Common LP Units and Subordinated LP Units, respectively, on a one-for-one basis if the Special General Partner ceases to own at least 15% of all Outstanding Units.

  • Each Special GP Unit, Common GP Unit and Subordinated GP Unit will automatically convert into a Special LP Unit, Common LP Unit or Subordinated LP Unit, respectively, on a one-for-one basis immediately prior to the transfer of such Unit to any Person who is not an Affiliate of the Special General Partner.

  • The transfer of such converted Special GP Units, Common GP Units and Subordinated GP Units shall be governed by the provisions of this Agreement relating to transfer of Limited Partner Interests as if such Special GP Units, Common GP Units and Subordinated GP Units were Special LP Units, Common LP Units or Subordinated LP Units, respectively.

  • Nonrecourse Deductions for any Fiscal Year will be allocated to the holders of the Common LP Interests and the holders of the Preferred LP Interests, each as a class, in proportion to how all prior Depreciation that did not constitute Nonrecourse Deductions was allocated to each class pursuant to Section 5.3(h), and the portion so allocated to the Common LP Interests will be allocated Pro Rata and the portion so allocated to the Preferred LP Interests will be allocated Pro Rata.

  • The Interests of the Partnership consist of the GP Interest, which is a noneconomic general partner interest, 1,316,075,805 Preferred LP Interests and the Common LP Interests, each having the rights, powers, preferences and designations set forth in this Agreement.

  • ACCC shall give notice in writing to CDPQ of the receipt of an offer for the purchase of all or any portion of its Common LP Units (the “Purchased Units”) within five (5) days of such receipt, together with a copy thereof.

  • In the event that CDPQ exercises its right to require the Acquiror to purchase all of its Common LP Units and the Acquiror does not want to acquire the Common LP Units of ACCC subject to the Acquiror’s offer and all of the Common LP Units of CDPQ, then the offer shall be terminated in all respects.

  • On Closing, the Partnership shall issue to the Initial Limited Partner Common LP Units in connection with the Partnership’s acquisition of the Facilities and, if the Kenora Sale Alternative applies, 1,000 Preferred LP Units in connection with the Partnership’s acquisition of the ▇▇▇▇▇▇ Adjacent Property and shall then issue to CDPQ Common LP Units.

  • The General Partner shall cancel the certificate representing the said Class B LP Unit issued to it prior to the date hereof and replace it with a certificate representing the Common LP Unit held by the General Partner.