Delinquent Partner definition

Delinquent Partner is defined in Section 4.5(a).

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Delinquent Partner has the meaning set forth in Section 4.5(a).

Delinquent Partner has the meaning given to such term in Section 4.05.

Examples of Delinquent Partner in a sentence

• If the delinquency is remedied (i) by the Delinquent Partner making its Required Contribution or Make-Up Contribution pursuant to this Section 4.5(c) or (ii) by funding by the non-Delinquent Partner(s) as a Capital Contribution pursuant to Section 4.5(b), the Delinquent Partner shall no longer be deemed to be a Delinquent Partner with respect to the unfunded Required Contribution.

• Until the contributing Partner is fully repaid for such loan made as a result of the default by the Delinquent Partner and only if the contributing Partner agrees to accept repayment of such amount, the contributing Partner shall be entitled to all distributions to which the Delinquent Partner would have been entitled had such Commitment been fulfilled thereby.

• If the default is remedied by funding by the non-Delinquent Partner(s) as a Capital Contribution as set forth above, the Delinquent Partner shall no longer be deemed to be in default with respect to the unfunded Required Contribution.

• Each Partner grants to the Partnership, and to the Lending Partner with respect to any loans made by the Lending Partner to a Delinquent Partner, as security, equally and ratably for the payment of all Additional Capital Contributions that Partner has agreed to make and the payment of all loans and interest accrued made by the Lending Partner to that Partner, a security interest in such Partner's ownership interest in the Partnership under the Uniform Commercial Code of the State of Texas.

• If the delinquency is remedied by the Delinquent Partner making its Required Contribution or Make-Up Contribution as required above, the Delinquent Partner shall no longer be deemed to be in default with respect to the unfunded Required Contribution.

More Definitions of Delinquent Partner

Delinquent Partner means a Partner who has failed to pay any installment of its Remaining Contribution when due, and such delinquency has not been cured.

Delinquent Partner. As defined in Section 3.2(c). ------------------ Designee: An Affiliate of an Offeree designated by the Offeree to -------- purchase an Interest.

Delinquent Partner. As defined in Section 3.2(c). ------------------ Designee: An Affiliate of an Offeree designated by the Offeree to -------- purchase an Interest. Disinterested Partner: A Partner or Partners who are not benefitted --------------------- by, and none of whose Partner Associates is benefitted by, the terms of the Related Affiliation Agreement in question or the actions in question which may affect a Related Affiliation Agreement or a Partner or Partner Associate. Effective Date: [INSERT THE CLOSING DATE OF THE TRANSACTIONS -------------- CONTEMPLATED BY THE FORMATION AGREEMENT].

Delinquent Partner shall have the meaning set forth in Section 3.04 hereof.

Delinquent Partner has the meaning assigned to such term in Section 8.1(d). "DISCRETIONARY CAPITAL EXPENDITURES" means any expenditure related to the Partnership Business that is classified under GAAP as a capital expenditure and (i) is not a Mandatory Capital Expenditure, or (ii) if classified as a Mandatory Capital Expenditure, is associated or is in conjunction with, or is the result of, a prior or current Discretionary Capital Expenditure, in which case the portion of such Mandatory Capital Expenditure that is allocable to such prior or current Discretionary Capital Expenditure shall be classified as a Discretionary Capital Expenditure. "DISPOSE, DISPOSING OR DISPOSITION" means, with respect to Partnership Interest or any portion thereof, a sale, assignment, transfer, conveyance, gift, exchange or other disposition of such asset, whether such disposition be voluntary, involuntary or by operation of law, including but not limited to the following: (a) in the case of a Partnership Interest owned by an entity, a Change of Partner Control and (b) a disposition in connection with, or in lieu of, a foreclosure of an Encumbrance; but such terms shall not include the creation of an Encumbrance.

Delinquent Partner has the meaning ascribed to it in Se:tion 4.03(a). "Dispose," "Disposing," or "Disposition" means a sale, assignment, transfer, exchange, mortgage, pledge, grant of a security interest, or other disposition or encumbrance, or the acts of the foregoing. "Excess" has the meaning ascribed to it in Section 5.02(a). "Excess Determination" has the meaning ascribed to it in Section 5.02(a). "FINGER -FS C Agreement" means the Limited Partnership Agreement between FDC Group, Ltd. and the Partnership dated as of July 6, ~000 forming FINGER-FSC, LTD., a Texas limited partnership. "FINGER-FSC Partnership" means FINGER-FSG, LTD., a rexas limited partnership formed by the Limited Partnership Agreement betweerL FDC Group, Ltd. and the Partnership dated as of July 6, 2000. "General Interest Rate" means a rate per annum equal to the lesser of (a) a varying rate per annum that is equal to the interest rate publicly quoted by the Wall Street Journal (Southwest Edition) from time to time as th'~ prime rate, with adjustments in that varying rate to be made on the same date as any change in that rate, and (b) the maximum rate permitted by applicable law. -3- T7TF-1 7~7R)S-OOO31 9 � "General Partner" means any Person executing this Agi eement as a general partner or subsequently admitted to the Partnership as a genera partner as provided in this Agreement, but does not include any Person who has c ased to be a general partner in the Partnership. "Indemnified Person" means a Person indemnified pursu~xnt to Section 6.04. "Lending Partner" has the meaning ascribed to it term in Section 4.03(a) (ii). "Limited Partner" means any Person executing this Agi eement as a limited partner or subsequently admitted to the Partnership as a limited partner as provided in this Agreement, but does not inctude any Person who has ceased to be a limited partner in the Partnership. "Liquidator" means the Person acting as the Liquidator pursuant to Section 11.02. "Losses" has the meaning ascribed to it in Section 6.04. "Managing General Partner" means ESI No. 2 Corporation. a Delaware business corporation, or any other General Partner designated as Managing General Partner as provided in this Agreement. "Partner" means any General Partner or Limited Partner. "Partnership" has the meaning ascribed to it in Section 2.01. r~Partnership Interest" means the interest of a Partner in the Partnership, includ- ing, without limitation, rights to distributions (liquidating or oti-erwise), allocations, informatio...

Delinquent Partner means any Partner that: (i) has failed to make a Capital Contribution required by Section 4.1 or 4.2; (ii) has failed to make a Capital Contribution specified in a Sale Notice after delivering written notice of its election to accept the offer contained in such Sale Notice, pursuant to Section 4.9; (iii) has failed to make a loan pursuant to a Participation Rights Notice after delivering written notice of its election to accept the offer contained in such Participation Rights Notice, pursuant to Section 6.12; or (iv) is otherwise in uncured, material default of its obligations under this Agreement, including, but not limited to, those contained in Section 6.4, Section 6.9, Article X and Section 15.13.