Partner Advances definition
Examples of Partner Advances in a sentence
Interest on General Partner Advances shall be an expense of the Company when paid and shall accrue from the date of inception for a General Partner loan, or from the date reimbursement was due for any Advance related to a deferred reimbursement.
General Partner Advances and Limited Partner Loans 6 3.1 General Partner Advances 6 3.2 Limited Partner Loans 7 3.3 Right and Priority of Repayment 7 3.4 Third-Party Loans 7 4.
The Borrower shall cause any General Partner Advances to be subordinated pursuant to the terms of the Intercompany Subordination Agreement.
The Borrower will not, and will not permit any of its Subsidiaries to, pay any amounts with respect to Management Fees, Allocated Expenses or General Partner Advances if, either before or after giving effect to such payments, a Default shall have occurred and be continuing, or if such payments violate the terms of the Subordination Agreement.
The Borrower shall use the proceeds of the initial Borrowing first to repay, in full, all amounts outstanding under the Existing Credit Agreement, and, second, for such general corporate purposes as the Borrower may determine appropriate (including payments of General Partner Advances permitted under Section 7.2.7).
Except as set forth in Item 6.22 of the Disclosure Schedule, there are no Management Fees, Allocated Overhead and/or General Partner Advances outstanding as of September 30, 1994.
Subordination of Participating Partner Advances to MOA/Service -------------------------------------------------------------- Agreement Obligations.
It is expressly understood and agreed that the General Partner may permit one or more Partners to make Partner Advances without also offering the other Partners an opportunity to make Partner Advances, and the Partners shall have no right to make any Partner Advances on a proportionate or other basis except as determined by the General Partner, in its sole discretion.
Interest shall accrue on such advances ("Partner Advances") at two hundred (200) ---------------- basis points over the Thirty Year Treasury ▇▇▇▇ rate of interest as published from time to time by The Wall Street Journal, compounded quarterly or such other rate of interest as shall be approved by the Board.