LPML definition
Examples of LPML in a sentence
LPML and LPL shall not make any Distributions to any of their respective partners; provided, however, LPML and LPL may make Distributions if immediately prior to and after giving effect to any such Distribution a Default or Unmatured Default shall not have occurred and be continuing.
At or prior to the Closing, the Purchasers shall take any and all actions, and the general partners of LPL and LPML shall make any filings and notifications under the laws of any jurisdiction, necessary to effect such waivers.
LPML and LPL shall not make any Distributions to any of their respective partners, except for Distributions made in compliance with their partnership agreements as in effect on the date hereof and delivered to the Lenders pursuant to Section 4.1(a)(i) hereof (the "Partnership Agreements"); provided that immediately prior to and after giving effect to any such Distribution no Default or Unmatured Default shall have occurred and be continuing.
The entire outstanding general and limited partnership interests of LPL and LPML consist of 1,648,966 Units.
The Corporation hereby agrees to issue to each Purchaser that number of shares of Common Stock set forth opposite such Purchaser's name on Exhibit A hereto (such shares of Common Stock being hereinafter referred to as the "Securities") in exchange for the transfer by such Purchaser to the Corporation of its entire general and limited partnership interest in LPL and LPML.
Execution of this Agreement shall constitute the waiver of each Purchaser of any restrictions or prohibitions on the consummation of the Exchange or of any of the other transactions contemplated hereby (including restrictions on the transfer by a partner of either limited partnership or general partnership interests) contained in the partnership agreement pursuant to which LPL or LPML was formed (as each such agreement is currently in effect).
At the Closing (as defined below) G-LLC will contribute the ▇▇▇▇▇▇▇▇▇ Capital Stock to LPL and LPML, respectively, in exchange for Units in LPL and LPML in the amounts set forth on Exhibit A (the "Exchange").
The December 31, 1995 combined financial statements of LPL and LPML and their Subsidiaries heretofore delivered to the Lenders were prepared in accordance with Agreement Accounting Principles and fairly present the financial condition and operations of LPL and LPML and their Subsidiaries at such date and the results of their operations for the period then ended.
At the Closing, the Stockholders will cause G-LLC to contribute all of the ▇▇▇▇▇▇▇▇▇ Capital Stock owned by it to LPL and LPML in exchange for Units as set forth on Exhibit A (the "Exchange").
LPML and LPL shall not make any Distributions to any of their respective partners; provided, however, LPML and LPL may make Distributions if (i) immediately prior to and after giving effect to any such Distribution a Default or Unmatured Default shall not have occurred and be continuing and (ii) the aggregate amount of all Distributions made by both LPML and LPL in any fiscal year does not exceed 50% of the Net Operating Income for the immediately preceding fiscal year.