Non-Participating Partner definition

Non-Participating Partner means (i) if a Follow-on Offering is consummated prior to the first anniversary of the Effective Time, (a) each of DW Lips, M&J K B, M&J K, ▇▇-▇▇ and (b) in the case of a Vulcan Triggered Follow-on Offering, any Partner other than DWI II, except in the case of clause (b), and subject to clause (a), to the extent such Partner delivers written notice to the General Partners electing to participate in such Vulcan Triggered Follow-on Offering within 10 Business Days after the date the Partnership delivers to each such Partner written notice of the Partnership’s exercise of the demand request relating to such Follow-on Offering, (ii) if a Follow-on Offering is consummated after the first anniversary of the Effective Time, (x) each of M&J K B, and ▇▇-▇▇, except to the extent they deliver written notice to the other Partners electing to participate in such Follow-on Offering and (y) in the case of a Vulcan Triggered Follow-on Offering, any Partner other than DWI II, except to the extent such Partner delivers written notice to the General Partners electing to participate in such Vulcan Triggered Follow-on Offering, in the case of each of clauses (x) and (y) within 10 Business Days after the date the Partnership delivers to each such Partner written notice of the Partnership’s exercise of the demand request relating to such Follow-on Offering and (iii) in the case of a Universal Triggered Offering, all Partners other than Universal.
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Non-Participating Partner means any Partner other than a Participating Partner.
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Non-Participating Partner means (i) if a Follow-on Offering is consummated prior to the first anniversary of the Effective Time, each of DW Lips, M&J K, [JK GRAT, MK GRAT], ▇▇-▇▇ and, in the case of a Vulcan Triggered Follow-on Offering, any Partner who is not a Vulcan Partner, except to the extent they deliver written notice to the General Partners electing to participate in such Vulcan Triggered Follow-on Offering within 10 Business Days after the exercise by the Partnership of the demand request relating to such Follow-on Offering and (ii) if a Follow-on Offering is consummated after the first anniversary of the Effective Time, each of M&J K, [JK GRAT, MK GRAT] and ▇▇-▇▇, except to the extent they deliver written notice to the other Partners electing to participate in such Follow-on Offering and, in the case of a Vulcan Triggered Follow-on Offering, any Partner who is not a Vulcan Partner, except to the extent they deliver written notice to the General Partners electing to participate in such Vulcan Triggered Follow-on Offering, in each case within 10 Business Days after the exercise by the Partnership of the demand request relating to such Follow-on Offering.
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Examples of Non-Participating Partner in a sentence

  • Unless the Non-Participating Partner reimburses the Participating Partner the amount of such advance, together with interest at an annual rate equal to the Prime Rate of the National Bank of Canada plus 3%, within 30 Business Days from the date of such advance, the Participation of the Non-Participating Partner shall be diluted as provided in Section 1.1.25.

  • If, and only if, a Special Partner (the “Non-Participating Partner”) fails or is unwilling to make, within the prescribed delay, a Capital contribution to the Partnership pursuant to Section 4.3 and provided another Special Partner (the “Participating Partner”) has made, or has undertaken in writing to make, its Capital contribution as determined in Section 4.3, then the Participating Partner may, at its option, advance to the Partnership the share of the Non-Participating Partner.