Consent of the Limited Partners definition

Consent of the Limited Partners means the Consent of a Majority in Interest of the Limited Partners, which Consent shall be obtained prior to the taking of any action for which it is required by this Agreement and may be given or withheld by a Majority in Interest of the Limited Partners, unless otherwise expressly provided herein, in their sole and absolute discretion.
Consent of the Limited Partners means the Consent of Limited Partners (excluding for this purpose any Partnership Interests held by the General Partner, any other Person of which the General Partner owns or controls more than fifty percent (50%) of the voting interests and any Person directly or indirectly owning or controlling more than fifty percent (50%) of the outstanding voting interests of the General Partner) holding Percentage Interests that are greater than fifty percent (50%) of the aggregate Percentage Interests of all Limited Partners who are not excluded for the purposes hereof.
Consent of the Limited Partners means the written consent of a Majority-in-Interest of the Limited Partners (or other specified group of Limited Partners), which Consent shall be obtained prior to the taking of any action for which it is required by this Agreement and may be given or withheld by a Majority-in-Interest of the Limited Partners (or such specified group of Limited Partners), unless otherwise expressly provided herein, in their sole and absolute discretion.

Examples of Consent of the Limited Partners in a sentence

  • Upon such extension and at any time prior to the last day of such extension, the term of the Partnership may be further extended with the prior written consent of the General Partner and the Unanimous Consent of the Limited Partners.

  • However, any Incapacitated General Partner which becomes a Limited Partner pursuant to this paragraph (c) shall not have the right to participate in the management of the affairs of the Partnership or to vote on any matter requiring the Consent of the Limited Partners and shall not be entitled to any portion of the Income, Loss, Net Interest Income, Net Residual Proceeds or Liquidation Proceeds payable to the class comprised of Limited Partners and BUC Holders.

  • Any action requiring the affirmative vote of Limited Partners under this Agreement, unless otherwise specified herein, may be taken by vote at a meeting or, in lieu thereof, by Consent of the Limited Partners with the required percentage-in-interest.

  • The General Partner may be removed as the general partner of the Partnership for Cause with Majority Consent of the Limited Partners, subject to Section 9.14(c).

  • Section 4.2 of the Smith FLP agreement provides that neither General Partner shall have any authority, “without the Consent of the Limited Partners (as defined in Section 1.5),” to, among other things, “amend or modify this Agreement.” (See Smith FLP Agreement at p.


More Definitions of Consent of the Limited Partners

Consent of the Limited Partners means the Consent of a Majority in Interest of the Common Limited Partners, unless there is another class of Partnership Units outstanding that are Limited Partner Interests, in which case the “Consent of the Limited Partners” shall also require the additional Consent of the Limited Partners of each class of Partnership Units to the extent the consent of such class is required in the Partnership Unit Designation of such class; and which Consent shall be obtained prior to the taking of any action for which it is required by this Agreement and, except as otherwise provided in this Agreement, may be given or withheld by each Limited Partner in its sole and absolute discretion.
Consent of the Limited Partners means the written consent of a Majority-In-Interest of the Limited Partners, which consent shall be obtained prior to the taking of any action for which it is required by this Agreement and may be given or withheld by a Majority-In-Interest of the Limited Partners, unless otherwise expressly provided herein, in their sole and absolute discretion. Whenever the Consent of the Limited Partners is sought by a General Partner, the request for such consent, outlining in reasonable detail the matter or matters for which such consent is being requested, shall be submitted to all of the Limited Partners, and each Limited Partner shall have at least 15 days to act upon such request.
Consent of the Limited Partners means the Consent of Limited Partners holding Percentage Interests that are greater than 50% of the aggregate Percentage Interests of all Limited Partners who are not excluded for the purposes hereof.
Consent of the Limited Partners means Consent of Limited Partners holding, in their capacity as Limited Partners and not as assignees, a majority of the outstanding Units; provided, however, if the General Partner or any Affiliate of the General Partner (other than an individual who acquires Units for his own account or a trust or other similar entity that acquires Units for the direct benefit of an individual) owns any Units, then in the case of each matter in which the General Partner or an Affiliate thereof has an interest, such Units shall not be voted on any such matter presented to the Limited Partners for a vote, except that in connection with a decision to continue the business of the Partnership and to appoint one or more general partners as provided in Section 6.05A, the General Partner agrees that it will consent in writing to such action.
Consent of the Limited Partners means the written consent of a majority-in-interest of the Limited Partners (i.e., Limited Partners holding in the aggregate more than fifty percent (50%) of the total Partnership Interests held by the Limited Partners), which consent shall be obtained prior to the taking of any action for which it is required by this Agreement and may be given or withheld by each Limited Partner in its sole and absolute discretion.
Consent of the Limited Partners means the Consent of Limited Partners (excluding for this purpose any Partnership Interests held by the General Partner and any Affiliate of the General Partner) holding Percentage Interests that are greater than fifty percent (50%) of the aggregate Percentage Interests of all Limited Partners who are not excluded for the purposes hereof.
Consent of the Limited Partners means the Consent of Limited Partners holding in the aggregate greater than fifty percent (50%) of the outstanding Common Units, which Consent shall be obtained prior to the taking of any action for which it is required by this Agreement and, except as otherwise provided in this Agreement, may be given or withheld by each Limited Partner owning Common Units in its sole and absolute discretion.