LP Division definition
LP Division means the statutory division of any limited partnership into two or more limited partnerships pursuant to Section 17-220 of the Delaware Limited Partnership Act or a comparable provision of any other Law.
LP Division means the division or divisive merger of any LP into multiple entities or multiple series of the same entity pursuant to any Applicable Law, including, without limitation, pursuant to Section 17-220 of the Delaware Revised Uniform Limited Partnership Act, as amended from time to time.
LP Division means the division or divisive merger of any LP into multiple entities or multiple series of the same entity pursuant to any Applicable Law, including, without limitation, pursuant to Section 17-220 of the Delaware Revised Uniform Limited Partnership Act, as amended from time to time.
Examples of LP Division in a sentence
Neither Borrower, Guarantor nor any Person (a) obligated to pay all or any part of any sums that are, or may become, due under the Loan Documents, or (b) who is, or may become, obligated to perform any obligations secured by the Security Instrument, in either case, has created or adopted a Plan of Division, or filed a Certificate of Division, or has otherwise effectuated an LLC Division or LP Division of Borrower, Guarantor or such Person.
The Parties also agree that the Genco LP Division shall not constitute an ▇▇▇▇▇ ▇▇ Default hereunder.