LPL Partnership definition

LPL Partnership means Lakehead Services, Limited Partnership, a Delaware limited partnership, of which the Partnership is a 1% general partner and the Company is a 99% limited partner.
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LPL Partnership has the meaning assigned to such term in the Recitals to this Agreement.
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Examples of LPL Partnership in a sentence

  • In consideration for the contribution stated in Section 3.1, the LPL Partnership hereby continues the Company’s 99% limited partner interest in the LPL Partnership.

  • The Company hereby contributes to the LPL Partnership $9 million in cash and United States government securities, in exchange for the consideration stated in Section 3.2, and the LPL Partnership hereby accepts such contribution, as a contribution to the capital of the LPL Partnership.

  • In consideration for the contribution stated in Section 2.1, the LPL Partnership hereby continues the Partnership’s 1% general partner interest in the LPL Partnership.

  • The Partnership hereby contributes to the LPL Partnership $205,090,909.09 million in cash and United States government securities, in exchange for (a) the consideration stated in Section 2.2 and (b) the assumption of certain liabilities by the LPL Partnership as set forth in Article IV, and the LPL Partnership hereby accepts such contribution, as a contribution to the capital of the LPL Partnership.

  • The General Partner owns of record a general partner interest in the Partnership of 1.0%, and owns of record a limited partner interest in the Partnership (represented by 3,912,750 Class B Common Units) of approximately 14.8%, a general partner interest in the Operating Partnership of 1.0101% and a limited partner interest in the LPL Partnership of 99%.