General Partner definition
Examples of General Partner in a sentence
By: Fund GP, LLC Its: General Partner By: Belltower Fund Group, Ltd.
Notwithstanding the foregoing, the General Partner may make such allocations as it deems reasonably necessary to give economic effect to the provisions of this Agreement, taking into account facts and circumstances as the General Partner deems reasonably necessary for this purpose.
Upon a determination by the General Partner to provide Redemption Rights pursuant to the preceding sentence, the General Partner shall give prompt written notice thereof (in accordance with Section 12.1 of the Partnership Agreement) to each holder of the Series of NLP Common Units to which Redemption Rights are granted, but in no event later than five business days after the date the General Partner takes action to provide such Redemption Rights.
The General Partner shall have the authority, exercisable in its sole and absolute discretion, and without the approval of any Limited Partner or any other Person, to determine or change, at any time or from time to time, the amount or rate of, or manner of calculating, the distribution(s) payable to holders of each Series of NLP Common Units pursuant to this paragraph.
The General Partner hereby designates and creates the NLP Common Units a class of Common Units of the Operating Partnership, to be issued in separate series as set forth herein (each, a “Series”), and fixes the rights and obligations of the holders of each such Series.