GP Payments definition
GP Payments means the cash payments required to be made to the General Partner in respect of the GP Interest pursuant to Section 11.5 ("Distribution of Distributable Cash From Operations") and Section 11.6 ("Distributions of Cash From Sales or Refinancings") of the Partnership Agreement.
Examples of GP Payments in a sentence
To the extent GP Payments may not be made in a year due to the foregoing limitations, such GP Payments shall carry over and be treated as arising in the following year.
To the extent GP Payments may not be made in a year due to the above limitations, such GP Payments shall carry over and be treated as arising in the following year(s) (subject again to limitation as set forth above in those years), for a maximum of seven years (treating amounts payable as first being paid from the earliest year such amounts were carried over, and the next succeeding years in chronological order).