Examples of Operating General Partner in a sentence
The 1% interest will be calculated without regard to any limited partner interest or interests in the Partnership that the Operating General Partner have or may obtain.
If not in effect as of the date hereof, the Operating General Partner agree (i) to deliver a valid and binding Extended Use Agreement and evidence that it has been recorded no later than the end of the first taxable year in which any Tax Credit is taken with regarding to any building and (ii) to ensure that all Partnership lenders subordinate their mortgage liens on the Apartment Complex to the Extended Use Agreement at the time it is recorded.
None of the Operating General Partner or any of its officers, directors or affiliates intend to tender any Units.
Peabody & Xxxxx and Tobin, Carberry, X'Xxxxxx, Xxxxx & Xxxxxxxx, PC, as counsel for the Operating Partnership and the Operating General Partner, will rely upon such information and representations in connection with its delivery of certain opinions with respect to this transaction.
Accordingly, the Operating General Partner recommends that the limited partners reject the offer and urges you not to tender any of your limited partnership Units.