Passive Partnership definition
Passive Partnership company means any company that is not controlled by the Casino Group in which the Casino Group holds an interest, but which does not meet the criteria to be considered an Active Partnership company.
Examples of Passive Partnership in a sentence
The Principal also undertakes to exclude from benefiting from this Mandate, with immediate effect, any company to which it is bound which is excluded from the definition of Active Partnership or Passive Partnership company, or from the definition of Affiliate, unless otherwise expressly agreed by the Parties.
The foregoing notwithstanding, any failure to provide consents and otherwise satisfy Preference Rights and Transfer Requirements shall constitute a Title Defect with respect to the Acquired Assets affected, including interests in properties that are indirectly owned through the partnerships that comprise the MGP Partnership Interests, the Passive Partnership Interests and the Alerion Assets.