Partnership Reserves definition

Partnership Reserves means the amounts from time to time which the General Partner, acting reasonably, but in its sole discretion, determines are necessary or desirable: (i) to meet the current and future expenses, liabilities, commitments and obligations of the Partnership; and (ii) for such other purposes as may be determined by the General Partner to be necessary or desirable for the conduct, promotion and protection of the business and activities of the Partnership, its assets and the Limited Partner.
Sample 1
Partnership Reserves. Reserves maintained by the Partnership for working capital, capital improvements and similar contingencies, including, without limitation, the Operating Reserve, the Working Capital Reserve, and the Replacement Reserve. Except as expressly provided in this Agreement any funds held in the Partnership Reserves which are no longer required for the purposes for which they were set aside shall be distributed to the Partners pursuant to the provisions of Section 6.2A.
Sample 1

Examples of Partnership Reserves in a sentence

  • It is interesting to note, in light of these findings, that the U.S. District Court denied Libby’s motion to allow expert psychologists to testify about the foibles of memory and metamemory because, the court argued, such research would tell jurors little that they did not already know.

  • The underlined phrase in (13) is a relative clause that modifies the antecedent the book.

  • That Members approve the retention of £70,898 within the Partnership as this Council’s contribution to the Partnership Reserves in 2012/13; this amount being Hinckley & Bosworth BC’s contribution to the underspend in 2011/12.

  • Except as expressly provided in this Agreement any funds held in the Partnership Reserves which are no longer required for the purposes for which they were set aside shall be distributed to the Partners pursuant to the provisions of Section 6.2A.

  • The General Partner shall have the right to set up -------- reasonable cash reserves for contingent liabilities or obligations of the Partnership, capital improvements or for any other purpose necessary to accomplish the purposes of the Partnership ("Reserves") and such Reserves shall be deducted from the amount available for distribution.

  • Any funds held in the Partnership Reserves which are no longer required for the purposes for which they were set aside shall be distributed to the Partners pursuant to the provisions of Section 6.2, as the case may be.

  • After the Closing, each Party shall provide the other Party with reasonable access to all relevant documents, data and other information (other than that which is subject to any attorney-client privilege) which may be required by the other Party for the purpose of financial reporting, preparing tax returns, filing refund claims, responding to any audit by any taxing jurisdiction or replying to any third party or governmental claim or demand concerning the Partnership, Reserves LLC or the Operating Assets.

  • Prior to the Closing Date, Seller --------------------------------- shall make certain accounting adjustments and payments regarding the assets, liabilities and equity of the Partnership and Reserves LLC, to the effect that Sellers shall remove all intercompany accounts involving the Partnership, Reserves LLC and their Affiliates, and all intercompany liabilities shall have been removed.

  • The Commission also proposes to renumber this provision to subsection (a) based on the proposed addition of § 37.2(b) described below.

  • Prior to the Closing Date, Seller shall make certain accounting adjustments and payments regarding the assets, liabilities and equity of the Partnership and Reserves LLC, to the effect that Sellers shall remove all intercompany accounts involving the Partnership, Reserves LLC and their Affiliates, and all intercompany liabilities shall have been removed.

Related to Partnership Reserves

  • Common Unit Economic Balance has the meaning set forth in Section 5.01(g) hereof.

  • OP Unit Economic Balance has the meaning set forth in Section 6.03(c) hereof.

  • PDP Reserves means the Proven Reserves which are categorized as both “developed” and “producing” under the definitions for oil and gas reserves promulgated by the Society of Petroleum Evaluation Engineers (or any generally recognized successor) as in effect at the time in question and reasonably acceptable to the Administrative Agent.

  • Partnership Percentage means the percentage share of each Partner in the Net Income or Net Loss of the Partnership. The Partners’ initial Partnership Percentages shall be proportionate to the Partners’ initial Capital Contributions to the Partnership. Thereafter, subject to Section 1.68(g), such Partnership Percentages shall be adjusted only to reflect a disproportionate Capital Contribution by one or more Partners or a disproportionate distribution to one or more Partners, with disproportion being determined in accordance with Sections 4.2(a) and 4.5(b), except as set forth in Section 1.68(f).

  • Partnership Minimum Gain has the meaning set forth in Regulations Section 1.704-2(b)(2), and the amount of Partnership Minimum Gain, as well as any net increase or decrease in Partnership Minimum Gain, for a Partnership Year shall be determined in accordance with the rules of Regulations Section 1.704-2(d).

  • Partnership Record Date means the record date established by the General Partner for a distribution pursuant to Section 5.1(a) hereof, which record date shall be the same as the record date established by the General Partner for a distribution to its stockholders of some or all of its portion of such distribution.

  • Adjusted Capital and Reserves means the aggregate of:

  • Book Capital Account means, for any Holder at any time, the Book Capital Account of the Holder for such day, determined in accordance with Section 8.1 hereof.

  • GP means Gottbetter & Partners, LLP.

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Partnership Unit means, with respect to any class of Partnership Interest, a fractional, undivided share of such class of Partnership Interest issued pursuant to Sections 4.1 and 4.3 (including Performance Units). The ownership of Partnership Units may be evidenced by a certificate for units substantially in the form of Exhibit D-1 or D-2 hereto or as the General Partner may determine with respect to any class of Partnership Units issued from time to time under Sections 4.1 and 4.3.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • GP Unit means a Partnership Unit which is designated as a GP Unit of the Partnership.

  • Capital Account Limitation has the meaning set forth in Section 4.05(b) hereof.

  • road reserve ’ means the area contained within the statutory width of a road, and includes roadways, shoulders and sidewalks and the airspace above such roadways, shoulders and sidewalks and all other areas within the road reserve boundary;

  • Target Capital Account means the Capital Account of a Member as of the end of each fiscal year, increased by any amount that such Member is obligated to restore under this Agreement, is treated as obligated to restore under Treasury Regulations Section 1.704-1(b)(2)(ii)(c), or is deemed obligated to restore under the penultimate sentences of Treasury Regulations Section 1.704-2(g)(1) and (i)(5).

  • FFO means “funds from operations,” defined to mean net income (or loss) (computed in accordance with GAAP), excluding gains (or losses) from debt restructurings and sales of properties, plus depreciation and amortization, after adjustments for Minority Holdings. Adjustments for Minority Holdings will be calculated to reflect FFO on the same basis as above.

  • Contributed Capital at any time, the aggregate amount which shall theretofore have been received by the Borrower as a contribution to its capital or as consideration for the issuance of partnership interests in the Borrower; Contributed Capital shall in any event exclude the proceeds of any Specified Affiliate Debt and any Restricted Equity.

  • Unreturned Capital Contributions means all Capital Contributions made by a Class A Member less any returned capital.

  • Deemed Partnership Interest Value means, as of any date with respect to any class of Partnership Interests, the Deemed Value of the Partnership Interests of such class multiplied by the applicable Partner's Percentage Interest of such class.

  • General Partner Unit means a fractional part of the General Partner Interest having the rights and obligations specified with respect to the General Partner Interest. A General Partner Unit is not a Unit.

  • Moderate-income unit means a restricted unit that is affordable to a moderate-income household.

  • Borrower Partnership Agreement means the Limited Partnership Agreement of the Borrower dated as of January 17, 2014 as such agreement may be amended, restated, modified or supplemented from time to time with the consent of the Administrative Agent or as permitted under Section 10.10.

  • Virginia venture capital account means an investment fund that has been certified by the

  • Partnership Subsidiary means Host LP and any partnership, limited liability company, or other entity treated as a partnership for federal income tax purposes or disregarded as a separate entity for federal income tax purposes in which either Host REIT or Host LP owns (or owned on or after January 1, 1999) an interest, either directly or through one or more other partnerships, limited liability companies or other entities treated as a partnership for federal income tax purposes or disregarded as a separate entity for federal income tax purposes (whether or not Host REIT or Host LP has a controlling interest in, or otherwise has the ability to control or direct the operation of, such entity). Notwithstanding the foregoing, the term “Partnership Subsidiary” shall not in any way be deemed to include the Non-Controlled Subsidiaries or subsidiaries thereof, the Taxable REIT Subsidiaries or subsidiaries thereof, or the Subsidiary REITs or subsidiaries thereof.

  • Operating Reserve means generation capacity or load reduction capacity which can be called upon on short notice by either Party to replace scheduled energy supply which is unavailable as a result of an unexpected outage or to augment scheduled energy as a result of unexpected demand or other contingencies.