Equivalent Partner definition

Equivalent Partner. As defined in Section 8.1(b).
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Equivalent Partner means the same entity that is listed as a Partner in the Hotel Partnership Agreement (or any successor or assignee thereof); provided that SHC TRS shall be deemed the Equivalent Partner of both SHC del GP, LLC and SHC del LP, LLC. A Partner’s “Equivalent Percentage” of the Partnership Interests to be transferred hereunder shall be the same Percentage Interest which is Transferred under the Hotel Partnership Agreement; provided that the Percentage Interest of SHC del GP, LLC and SHC del LP, LLC under the Hotel Partnership Agreement shall be aggregated for purposes of determining the Equivalent Percentage of SHC TRS pursuant to this Agreement.
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Examples of Equivalent Partner in a sentence

  • For purposes of this Agreement, “Equivalent Partner” means the same entity that is listed as a Partner in the Hotel Partnership Agreement (or any successor or assignee thereof); provided that SHC TRS shall be deemed the Equivalent Partner of both SHC del GP, LLC and SHC del LP, LLC.

  • Accordingly, any tag along notice delivered by a Partner under Section 8.5 of the Hotel Partnership Agreement shall include or be deemed to include an election by the Equivalent Partner hereunder to be treated as a Tag Along Partner and to sell the equivalent number of shares (on a relative basis) as sold by such Partner under Section 8.5 of the Hotel Partnership Agreement.

  • If a Partner under the Hotel Partnership Agreement exercises its tag along rights under Section 8.5 of the Hotel Partnership Agreement, the Equivalent Partner hereunder shall be deemed to have exercised tag along rights with respect to the Parallel Transfer hereunder with all of the rights and obligations of a Tag Along Partner set forth in Section 8.5 of the Hotel Partnership Agreement.

  • It shall be a Contribution Event as to any Guarantor (or its Equivalent Partner) that does not make the payment required by any Capital Call Notice within the time period set forth in the preceding sentence.