Limited Partner Partnership Interest definition

Limited Partner Partnership Interest means, as of any date, a Limited Partner’s share of the Partnership's income, gain, loss, deduction and credit and the right to receive distributions from the Partnership, but does not include (i) the right of the holder thereof to participate in the management of the business or affairs of the Partnership, (ii) the right of the holder thereof to consent, approve, reject or disapprove any act of the Partnership, or (iii) the right of the holder thereof to be a Partner.
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Limited Partner Partnership Interest means, with respect to the Partnership or a Series, unless otherwise expressly provided in its LPA Series Appendix, a partnership interest (as defined in the Act) of a Limited Partner in the Partnership or that Series, as applicable, together with all rights, powers and preferences attributed thereto hereunder and along with all obligations associated therewith to comply with the terms and conditions hereof.
Sample 1
Limited Partner Partnership Interest means a partnership interest (as defined in the Act) of a Limited Partner in the Partnership, together with all rights, powers and preferences attributed thereto hereunder and along with all obligations associated therewith to comply with the terms and conditions hereof.
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Examples of Limited Partner Partnership Interest in a sentence

  • No Limited Partner or Preferred Limited Partner may pledge, mortgage, hypothecate or encumber any Limited Partnership Interest or Preferred Limited Partner Partnership Interest, without first obtaining the Consent of the General Partner, which Consent may be granted or withheld in the sole and absolute discretion of the General Partner.

  • This Agreement and the Assignment of Limited Partner Partnership Interest (as and when executed) contain the entire agreement between the parties pertaining to the subject matter set forth herein and the parties have not made any representations or warranties to each other, either oral or written, other than contained herein or in the documents contemplated hereunder.

  • If a General Partner then serving is a person in an individual capacity (as opposed to a trustee, or an entity, such as a corporation, partnership, or limited liability company), the Partnership Interest held by that individual as General Partner will, as a result of his or her death, be re-classified as a Limited Partner Partnership Interest.

  • Regarding full immunity of Type 1A, complete exemption from fines shall be granted to the applicant who will be the first to submit evidence enabling the HCC to initiate a targeted inspection concerning a suspected cartel, provided that the HCC did not already have in its possession at the time of the application sufficient evidence that would allow the initiation of the investigation procedure in relation to this cartel.

  • For reservoirs which are designed for multi-annual storage, the operation policy is based on long term targets.

  • A Limited Partner may assign, transfer, or convey his Limited Partner Partnership Interest only upon compliance with the provisions of this Article XI.

  • It is an agreed principle in employment law that an employer or employee who are parties to an employment contract can terminate the services of employment by giving due notice as provided inthe contract of employment.

  • As Mann explains, “We have to work with what is already there, and not with what we want to be there.” It takes a while to ad- dress local grievances, but only after that could the locals be per- suaded to stand up for them- selves.

  • In the event the Partnership fails to exercise its option to purchase such Limited Partner Partnership Interest, such transferee shall become a Substitute Limited Partner provided that the transferee has performed or satisfied all of the other requirements provided herein in this Article XI or elsewhere in this Agreement.

  • Provided, however, such Substitute Limited Partner shall be charged with the liabilities and duties and entitled to the rights and privileges of the original Limited Partner from whom the Limited Partner Partnership Interest was transferred.

Related to Limited Partner Partnership Interest

  • Limited Partnership Interest means the ownership interest of a Limited Partner in the Partnership at any particular time, including the right of such Limited Partner to any and all benefits to which such Limited Partner may be entitled as provided in this Agreement and in the Act, together with the obligations of such Limited Partner to comply with all the provisions of this Agreement and of the Act.

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Limited Partner Interest means a Partnership Interest of a Limited Partner in the Partnership representing a fractional part of the Partnership Interests of all Limited Partners and includes any and all benefits to which the holder of such a Partnership Interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement. A Limited Partner Interest may be expressed as a number of Partnership Common Units, Partnership Preferred Units or other Partnership Units.

  • General Partner Interest means the ownership interest of the General Partner in the Partnership (in its capacity as a general partner without reference to any Limited Partner Interest held by it) which may be evidenced by Partnership Securities or a combination thereof or interest therein, and includes any and all benefits to which the General Partner is entitled as provided in this Agreement, together with all obligations of the General Partner to comply with the terms and provisions of this Agreement.

  • Limited Partnership Agreement means the Amended and Restated Agreement of Limited Partnership of the Partnership dated as of March 1, 2017, as amended, supplemented or restated from time to time.

  • Substituted Limited Partner means a Person who is admitted as a Limited Partner to the Partnership pursuant to Section 11.4.

  • Partnership Interest means an interest in the Partnership, which shall include the General Partner Interest and Limited Partner Interests.

  • Limited Partner means, prior to the admission of the first Additional Limited Partner to the Partnership, the Initial Limited Partner, and thereafter any Person named as a Limited Partner in Exhibit A, as such Exhibit may be amended from time to time, upon the execution and delivery by such Person of an additional limited partner signature page, or any Substituted Limited Partner or Additional Limited Partner, in such Person’s capacity as a Limited Partner of the Partnership.

  • Special Limited Partner Interest means the interest of the Special Limited Partner in the Partnership representing its right as the holder of an interest in distributions described in Sections 5.1(b)(iii)(A), (c), (d) and (e) (and any corresponding allocations of income, gain, loss and deduction under this Agreement).

  • General Partner Units has the meaning assigned to such term in the Partnership Agreement.

  • General Partner Unit means a fractional part of the General Partner Interest having the rights and obligations specified with respect to the General Partner Interest. A General Partner Unit is not a Unit.

  • Investor Limited Partner means any Limited Partner so designated at the time of its admission as a partner of the Partnership.

  • Class B Limited Partner means any Person executing (by power of attorney or otherwise) this Agreement as of the date hereof as a Class B Limited Partner or hereafter admitted to the Partnership as a Class B Limited Partner as herein provided, but shall not include any Person who has ceased to be a Class B Limited Partner in the Partnership.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • General Partner means the general partner of the Partnership.

  • MLP Partnership Agreement means the Amended and Restated Agreement of Limited Partnership of the MLP, as amended or restated from time to time.

  • Foreign limited partnership means a partnership formed under laws other than of this state and having as partners one or more general partners and one or more limited partners.

  • General partnership means an organization formed under chapters 45-13 through 45-21.

  • Special Limited Partner means WNC Housing, L.P., a California limited partnership, and such other Persons as are admitted to the Partnership as additional or substitute Special Limited Partners pursuant to this Agreement.

  • Limited Partners means all such Persons.

  • Initial Limited Partner has the meaning set forth in the Preamble.

  • General Partner Loan has the meaning provided in Section 5.2(c) hereof.

  • Pledged Partnership Interests means all interests in any general partnership, limited partnership, limited liability partnership or other partnership including, without limitation, all partnership interests listed on Schedule 4.4(A) under the heading “Pledged Partnership Interests” (as such schedule may be amended or supplemented from time to time) and the certificates, if any, representing such partnership interests and any interest of such Grantor on the books and records of such partnership or on the books and records of any securities intermediary pertaining to such interest and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such partnership interests.

  • Borrower Partnership Agreement means the Limited Partnership Agreement of the Borrower dated as of January 17, 2014 as such agreement may be amended, restated, modified or supplemented from time to time with the consent of the Administrative Agent or as permitted under Section 10.10.

  • Initial Limited Partners means the Organizational Limited Partner (with respect to the Common Units and Subordinated Units received by it as described in Section 5.1), the General Partner (with respect to the Incentive Distribution Rights received by it as described in Section 5.1) and the Underwriters, in each case upon being admitted to the Partnership in accordance with Section 10.1.

  • Class A Limited Partner means EPCO Holdings, Inc., a Delaware corporation, and its successors and assigns.