Partnership Expense definition
Examples of Partnership Expense in a sentence
For purposes of this Agreement, Capital Contributions initially made for the Working Capital Reserve shall be treated as having been made for the Investment, Partnership Expense or repayment of Partnership Indebtedness to the extent (and only to the extent) which such amounts were applied for such purpose.
In no event shall a party be entitled to more than one payment of the Parent Expense Reimbursement and Partnership Expense Reimbursement, as applicable, in connection with a termination of this Agreement pursuant to which such amounts are payable.
The General Partners shall cause to be prepared quarterly, at Partnership Expense: (i) a statement of the compensation received by the General Partners and Affiliates during the quarter from the Partnership, which statement shall set forth the services rendered by the General Partners and Affiliates and the amount of fees received, and (ii) other relevant information.
Except as set forth in Section 4.03(b), any Partnership Expense shall be funded by the Partners pro rata in accordance with their respective Commitment Percentages.
The costs of any other meeting of the LP Advisory Committee shall not be a Partnership Expense and shall not be reimbursed by the General Partner.
The amount of any Partnership Expense shall be allocated among the Partners in accordance with Section 4.02.
The reasonable costs of any such legal or financial advisors shall be a Partnership Expense, reimbursable to LP Advisory Committee members.
The General Partner shall cause to be prepared, at Partnership Expense, such budgets with respect to the Partnership or the Investments as shall be Approved by the Partners or as shall be required by Persons making loans to the Partnership, either Partner or their Affiliates.
Except as set forth in Section 4.03(b), any Partnership Expense shall be allocated by the General Partner to a Fund, and shall be funded by the Partners having an interest in such Fund, pro rata in accordance with their respective Commitment Percentages applicable to such Fund, however in no event exceeding such Limited Partner’s Available Capital Commitment.
All costs associated with obtaining, or guaranteeing, a Loan, including but not limited to, legal fees, financing fees, loan fees, escrow costs and commissions, shall constitute a Partnership Expense.