GP Interest definition

GP Interest means: (i) with respect to any limited partnership, a unit of general partnership interest in such partnership; and (ii) with respect to a McNeil Partnership, the units of general partnership interest held by the general partner of such McNeil Partnership and all of the rights in respect thereof, including not only the general partner's proportionate interest of the profits and losses of that McNeil Partnership based on the general partner's capital contribution but also the rights and other assets (if any) corresponding to such McNeil Partnership which are being contributed to the applicable New GP LLC at the direction of the Company in accordance with Article II hereof.

GP Interest has the meaning set forth in Section 4.3(a).

GP Interest has the meaning set forth in the recitals to this Agreement.

Examples of GP Interest in a sentence

• As of the date hereof, and immediately prior to the issuance of the Firm Units, the issued and outstanding partnership interests of the Partnership will consist of 147,600,000 Common Units and the GP Interest.

• The Servicer shall prepare and file, on behalf of the holder of the GP Interest, all tax returns, tax elections, financial statements and such annual or other reports of the Issuer as are necessary for preparation of tax reports as provided in Article V of the Trust Agreement, including without limitation forms 1099 and 1066.

• Other than its ownership of the GP Interest and the IDRs, the General Partner will not, at the Closing Time and each Date of Delivery, own, directly or indirectly, any equity or long-term debt securities of any corporation, partnership, limited liability company, joint venture, association or other entity.

• As of the date hereof, other than the GP Interest and its indirect ownership interests in the Operating Subsidiary, the General Partner does not own, directly or indirectly, any equity or long-term debt securities of any corporation, partnership, limited liability company, joint venture, association or other entity.

• However, some arrangements are structured such that the IDRs are not a separate LP interest, but are embedded within the GP Interest.

More Definitions of GP Interest

GP Interest means an interest in the Partnership issued pursuant to this Agreement to a Person in its capacity as the General Partner.

GP Interest shall have the meaning assigned to such term in Section 2.7.

GP Interest means the General Partner’s general partner interest in the Partnership. “GP Unit” means a unit representing the GP Interest.

GP Interest has the meaning set forth in the recitals.

GP Interest means the ownership interest of the general partner in the Company (in its capacity as general partner).

GP Interest means the management interest of the General Partner in the Partnership in its capacity as the general partner of the Partnership. The GP Interest does not have any rights to ownership or profit of the Partnership or any rights to receive any distributions from the operation or liquidation of the Partnership.

GP Interest. The 1% interest in the Trust held by TMS SPV, Inc., a Delaware corporation, pursuant to the Trust Agreement.