LP Seller definition
Examples of LP Seller in a sentence
Any Taxes required to be so withheld with respect to the transfer of assets from the Limited Partnership to OpCo as part of the Pre-Closing Restructuring shall be funded by the LP Seller and deducted and withheld from the portion of the Purchase Price payable at Closing to the LP Seller and released as set forth in this Section 2.09, mutatis mutandis.
The Parties further acknowledge that, in the absence of a special allocation, the General Partner and the LP Seller may be allocated income or loss attributable to the period after Closing for purposes of subsection 96(1.01) of the ITA, and the Buyer may be allocated income or loss attributable to the period prior to Closing, which would not reflect the economic reality of their respective periods of ownership.
General Partner is the general partner of the Limited Partnership and LP Seller is the sole limited partner of the Limited Partnership.
Sellers shall provide any comments no later than ten (10) Business Days prior to such due date, and Buyer or the Operator, as applicable, shall reflect such comments to the extent such comments are reasonable For greater certainty, no Acquired Corporations shall claim any Tax deduction with respect to Transaction Expenses incurred on behalf of or for the benefit of the LP Seller or GP Seller.