Limited Partner definition
Examples of Limited Partner in a sentence
Any Class T Unit underlying an unvested OEU Unit shall be immediately cancelled without any consideration, and the applicable Limited Partner shall cease to own or have any rights with respect to such cancelled Class T Unit, upon any forfeiture of the corresponding OEU Unit.
The provisions of this Section 8.3, including the obligations of a Limited Partner, will survive a Limited Partner’s sale or other disposition of its interests in the Partnership and the termination, dissolution, liquidation, or winding up of the Partnership.
In the event any Person who is the General Partner holds any Brookfield-Owned Units, such Brookfield-Owned Units shall be deemed to be held by such Person solely in its capacity as a Limited Partner (and thus as a Brookfield LP) and not in its capacity as the General Partner.
Each Limited Partner shall perform all other acts and execute and deliver all other documents as may be necessary or appropriate to carry out the purposes and intent of this Agreement.
If a Limited Partner ceases to hold any Units, then such Limited Partner shall withdraw from the Partnership and shall cease to be a Limited Partner and to have the power to exercise any rights or powers of a Limited Partner.