KRP definition
Examples of KRP in a sentence
The Managing Member may not be removed as the managing member of the Company unless the General Partner is removed as a general partner of the Managing Member in accordance with the KRP Partnership Agreement.
In the event that the Company issues Common Units to, or cancels, redeems, repurchases or otherwise acquires Common Units held by, any Person other than the Managing Member, the Managing Member shall issue KRP Class B Units to such Person or cancel KRP Class B Units held by such Person such that the number of KRP Class B Units held by such Person is equal to the number of Common Units held by such Person.
In the event that the Managing Member issues any additional KRP Common Units or KRP Series A Preferred Units and contributes the net cash proceeds or other consideration received from the issuance thereof to the Company, the Company is authorized to issue a number of Common Units or Series A Preferred Units, as applicable, equal to the number of KRP Common Units or KRP Series A Preferred Units so issued without any further act, approval or vote of any Member or any other Persons.
If the Managing Member redeems the KRP Series A Preferred Units pursuant to a KRP Series A Change of Control, the Company shall redeem all (and not less than all) of the Series A Preferred Units for a cash amount per Series A Preferred Unit equal to the KRP Series A Redemption Price.
The Company shall remit all such cash consideration to such Record Holders immediately prior to the consummation of such KRP Series A Change of Control.
Accordingly, immediately following such exchange, there were 13,886,204 KRP Common Units outstanding, 12,953,258 KRP Class B Units outstanding and 26,839,462 Common Units outstanding.
As soon as practicable and in any event within three (3) Business Days after the receipt of any notice of default under any Lease with KRP, the Administrative Borrower shall deliver to the Administrative Agent a copy of any such notice.
In making its determination of the fair market values of individual properties, the Managing Member may first determine an aggregate value for the assets of the Company that takes into account the current trading price of the KRP Common Units, the fair market value of all other Membership Interests at such time and the amount of Company Liabilities.
In making its determination of the fair market values of individual properties, the Managing Member may first determine an aggregate value for the assets of the Company that takes into account the current trading price of the KRP Common Units, the fair market value of all other Membership Interests at such time, and the amount of Company Liabilities.
The Administrative Agent shall have received a payoff letter evidencing repayment of the obligations under the Prior Credit Agreement; consent and collateral access agreements for properties leased by the Credit Parties from KRP, delivery of the funds flow memo, in each case in form and substance satisfactory to the Administrative Agent.