Debtor Partner definition
Examples of Debtor Partner in a sentence
On or before fifteen (15) days after any written request of any Partner other than the Debtor Partner (the "Non-Debtor Partners"), the Partner shall execute and deliver a UCC-1 financing statement in form and substance acceptable to such Non-Debtor Partners to evidence such security interest, the failure of which shall constitute a material breach of this Agreement (and a default under any Replacement Loan owed by the Debtor Partner to the Non-Debtor Partners).
The purchase price payable for the Project Property of the Debtor Partner shall be an amount equal to ninety percent (90%) of the Fair Market Value of such Project Property on the date of the event giving rise to the option described in this Section 9(c) determined pursuant to Sections 9(n)(i) and 9(n)(ii).
Any amounts paid directly to the Partnership and/or the Non-Debtor Partners pursuant to the terms of the preceding sentence shall be treated as paid to the Debtor Partner (or, as applicable, its Affiliate) entitled to receive the amount of the distribution or payment in the absence of the requirements of the preceding sentence (thereby discharging the Partnership's obligation to make the payment in question) and then applied by the Debtor Partner to the repayment of the Debtor Partner's Required Payment.