GP Payment definition

GP Payment has the meaning specified in Section 7.12.B.
View Source
GP Payment has the meaning set forth in Section 15.11. “Gross Asset Value” means, with respect to any asset, the asset’s adjusted tax basis for U.S. federal income tax purposes, except as follows:
View Source

Examples of GP Payment in a sentence

  • If a GP Payment is inadvertently made in an amount in excess of the limitations in this Section 7.13(b), such excess payments shall be treated as a permitted loan from the Partnership to the General Partner, to be repaid as soon as practicable following discovery of the overpayment.

  • If any GP Payment is carried over for such seven-year period and not paid, such amount shall no longer be an obligation of the Partnership.

  • Each such payment to IFG shall be paid in immediately available funds within three Business Days following the receipt by the General Partner of the relevant GP Payment.

  • In addition, subject to the terms of the immediately following paragraph, from and after the date of the GP Transfer Closing, Riverdale shall pay or cause to be paid to IFG an amount equal to one-hundred percent (100%) of each GP Payment received by the General Partner after the GP Transfer Closing, regardless of whether the General Partner is a member of the Icahn Group at the time any such GP Payment is received by the General Partner.