Examples of Initial General Partner in a sentence
The Initial General Partner filed the Certificate with the Secretary of State of the State of Delaware as required by the Act.
Immediately following the admission of the General Partner as the general partner, the Initial General Partner, by its execution and delivery of a counterpart of this Agreement, shall withdraw and be deemed withdrawn from the Partnership and shall have no further or continuing interest in the Partnership.
Upon delivery of a Funding Notice to the Partners, the General Partner may, or, to the extent the Initial General Partner enters into a Funding Debt, the General Partner shall, lend the Additional Funds to the Partnership (a “General Partner Loan”).
If the Initial General Partner enters into such a Funding Debt, the General Partner Loan will consist of the net proceeds from such Funding Debt and will be on the same terms and conditions, including interest rate, repayment schedule and costs and expenses, as shall be applicable with respect to or incurred in connection with such Funding Debt.
Upon such issuance, the initial Partnership Unit issued to the Initial General Partner and the initial Partnership Unit issued to Tanger Family Limited Partnership were redeemed for the price of $1.00 each.