Priority Profit Allocation definition
Priority Profit Allocation means a priority share of the net income of the Limited Partnership payable to the General Partner as described under “Information Concerning the Limited Partnership – Executive Compensation and Management Arrangements – Priority Profit Allocation”;
Priority Profit Allocation has the meaning given to it in Section 3.2. “Priority Profit Distribution” has the meaning given to it in Section 3.2. “Priority Profit Quantum” has the meaning given to it in Section 3.2. “Prohibited Group” has the meaning given to it in Section 7.1(2)(d). “Prohibited Person” has the meaning given to it in Section 7.1(2)(d).
Examples of Priority Profit Allocation in a sentence
Distributions may be made to the General Partner (the “Priority Profit Distribution”) in respect of its established or potential future entitlement to the Priority Profit Allocation, calculated as of the last day of each calendar quarter in an amount equal to 0.67% (2.68% annualized) of the Total Assets as of the last day of the calendar quarter (the “Priority Profit Quantum”).