GP Unit definition

GP Unit means a Partnership Unit which is designated as a GP Unit of the Partnership.

Examples of GP Unit in a sentence

  • General PartnerThe GP Units are a general partnership interest in the Partnership and one GP Unit has been issued to and is held by the General Partner.

  • The Partnership has issued Class C LP Units, which are designed to provide CTC with an interest in the Partnership that entitles CTC to cumulative distributions in priority to distributions to holders of the Class A LP Units, Class B LP Units and the GP Unit, subject to certain exceptions.

  • Class C GP Units The holders of Class C GP Units are entitled to receive a cumulative preferential monthly cash distribution equal to $0.063 per Class C GP Unit held, payable on the dates that distributions are paid on the units of the Fund.

  • SIR holds the remaining Ordinary GP Unit and is the General Partner.

  • As part of the consideration for the transfer of the SIR Rights, the Partnership issued to SIR 595,185 Class A GP Units, 100,000,000 Class B GP Units, 4,000,000 Class C GP Units and one Ordinary GP Unit.


More Definitions of GP Unit

GP Unit has the meaning assigned to it in the Partnership Agreement.
GP Unit has the meaning given to such term in Section 3.1(b);
GP Unit means the general partnership units of Energy owned by the GP.
GP Unit has the meaning set forth in the recitals hereof.