Partnership Loan definition

Partnership Loan has the meaning provided in Section 5.2(c) hereof.

Partnership Loan means a loan from the Partnership to the Partner on the day the Partnership pays over the excess of the Withheld Amount over the Distributable Amount to a taxing authority.

Partnership Loan has the meaning provided in Section 5.2(d) hereof.

Examples of Partnership Loan in a sentence

• A Partnership Loan shall be repaid through withholding by the Partnership with respect to subsequent distributions to the applicable Partner or assignee.

• In the event that a Limited Partner (a “Defaulting Limited Partner”) fails to pay any amount owed to the Partnership with respect to the Partnership Loan within 15 days after demand for payment thereof is made by the Partnership on the Limited Partner, the General Partner, in its sole and absolute discretion, may elect to make the payment to the Partnership on behalf of such Defaulting Limited Partner.

• Any amounts treated as a Partnership Loan or a General Partner Loan pursuant to this Section 5.2(b) shall bear interest at the lesser of (i) the base rate on corporate loans at large United States money center commercial banks, as published from time to time in The Wall Street Journal, or (ii) the maximum lawful rate of interest on such obligation, such interest to accrue from the date the Partnership or the General Partner, as applicable, is deemed to extend the loan until such loan is repaid in full.

• There will be scheduled payments of principal in respect of the Partnership Loan on each Loan Interest Payment Date.

• In the event that a Limited Partner (a “Defaulting Limited Partner”) fails to pay any amount owed to the Partnership with respect to the Partnership Loan within fifteen (15) days after demand for payment thereof is made by the Partnership on the Limited Partner, the General Partner, in its sole and absolute discretion, may elect to make the payment to the Partnership on behalf of such Defaulting Limited Partner.

More Definitions of Partnership Loan

Partnership Loan has the meaning set forth in Recital B to this Agreement.

Partnership Loan shall have the meaning set forth in Section 8.6(a) hereof.

Partnership Loan has the meaning ascribed thereto in Section 3.2.3 of this Agreement.

Partnership Loan means any loan made to the Partnership by the General Partner or any of its Affiliates in accordance with Section 9.04(b).

Partnership Loan or “Loan” means the loans, inclusive of Related Party Loans and Jointly Funded Loans, that will be advanced by the Partnership to Borrowers as bridge financing with respect to the future receipt by a Borrower of funding from approved government: (i) tax credit and tax incentive programs; (ii) grant programs; (iii) loan programs;

Partnership Loan means any loan made to the Partnership by the General Partner or any Affiliate of the General Partner in accordance with Section 9.2(c).

Partnership Loan means any loan made by a Partner to the Partnership, which loan shall bear interest compounded monthly at a rate equal to five percent (5%).