PRULPA definition

PRULPA has the meaning given in the recitals.
Sample 1
PRULPA means the Pennsylvania Revised Uniform Limited partnership Act, as amended.
Sample 1

Examples of PRULPA in a sentence

  • PRULPA provides for freedom of contract to allow for a partnership agreement to contain any provision for the regulation of the internal affairs of the limited partnership.

  • Indeed, their interests are 2 Section 8591, and the entire version of the PRULPA in effect at all times relevant to this action, were repealed and replaced, effective February 21, 2017.

  • The court also recognized that in 2016, the legislature repealed PRULPA effective February 21, 2017.

  • By incorporation of agency law under PRULPA, as made applicable to the agreements, a general partner under any of the three agreements is obligated to conduct his actions consistent with the duties of loyalty and care, to act in good faith and fair dealing23 with co-partners, andduty of good faith and fair dealing as a contractual obligation.

  • This does not mean that fiduciary duties did not exist under PRULPA, but discerning those duties involves a certain amount of statutory gymnastics.Section 8533(b) of PRULPA provides that a general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to the partnership and to the other partners.

  • In the sense that it receives capital from society rather than operating on private capital.

  • Instead, quite to the contrary, under the PRULPA the parties have essentially unlimited freedom of contract to regulate their own internal affairs:§ 8520.

  • By the terms of the agreement and Subsection 8520(d), T.R. White had unfettered discretion to fulfill its business obligations and duties, without fear of being second-guessed by a court.PRULPA’s silence with respect to the duty of good faith and fair dealing, the fact that PRULPA expressly provided parties with contractual freedom, and the clear terms of the Parkesburg limited partnership agreement reveal to us that the implied covenant of good faith and fair dealing did not apply as a matter of law.

  • Because the existence of a limited partnership is dependent upon compliance with PRULPA, failure to conform to its various statutory provisions could lead to exposure to unwanted liabilities.At the time the parties formed Parkesburg, Section 8520 of PRULPA governed limited partnership formation and partnership agreements.

  • Similarly, at their inception, neither DRULPA nor PRULPA contained such a reference.

Related to PRULPA

  • DRULPA means the Delaware Revised Uniform Limited Partnership Act.

  • DLLCA means the Delaware Limited Liability Company Act.

  • Delaware LP Act means the Delaware Revised Uniform Limited Partnership Act.

  • Delaware LLC Act means the Delaware Limited Liability Company Act.

  • Partnership Act means the Delaware Revised Uniform Limited Partnership Act, 6 Del. C. §§ 17-101, et seq., as it may be amended from time to time, and any successor to such statute.

  • LLC Act means the Delaware Limited Liability Company Act, as amended.

  • Delaware LLC means any limited liability company organized or formed under the laws of the State of Delaware.

  • Delaware Law means the General Corporation Law of the State of Delaware.

  • NYBCL means the New York Business Corporation Law.

  • Delaware Secretary of State means the Secretary of State of the State of Delaware.

  • Delaware Act means the Delaware Revised Uniform Limited Partnership Act, 6 Del C. Section 17-101, et seq., as amended, supplemented or restated from time to time, and any successor to such statute.

  • Company Law means the Companies Law (as amended) of the Cayman Islands.

  • Certificate of Merger has the meaning set forth in Section 2.2.

  • Limited Partnership Agreement means the Amended and Restated Agreement of Limited Partnership of the Partnership dated as of March 1, 2017, as amended, supplemented or restated from time to time.

  • Delaware LLC Division means the statutory division of any Delaware LLC into two or more Delaware LLCs pursuant to Section 18-217 of the Delaware Limited Liability Company Act.

  • Pledged Partnership Agreements means all of each Grantor’s rights, powers, and remedies under the partnership agreements of each of the Pledged Companies that are partnerships.

  • Delaware General Corporation Law means the Delaware General Corporation Law, 8 Del. C.ss.100, et. seq., as amended from time to time.

  • Certificate of Formation means the Certificate of Formation of the Company filed with the Secretary of State of the State of Delaware as referenced in Section 2.1, as such Certificate of Formation may be amended, supplemented or restated from time to time.

  • EP Act means the Environmental Protection Xxx 0000;

  • Articles of Organization means the original documents filed to organize a limited liability company, as amended or restated by certificates of correction, amendment, or merger, by restated articles, or by other instruments filed or issued under any statute.

  • Certificate of Limited Partnership means the Certificate of Limited Partnership of the Partnership filed with the Secretary of State of the State of Delaware as referenced in Section 7.2, as such Certificate of Limited Partnership may be amended, supplemented or restated from time to time.

  • Charter Amendment means the Certificate of Amendment to the Certificate of Incorporation, in the form attached hereto as Exhibit D.

  • Corporations Law means the Corporations Law of the Commonwealth of Australia as applying in each State and Territory of Australia;

  • SDAT means the State Department of Assessments and Taxation of Maryland.

  • Company Charter means the certificate of incorporation of the Company, as amended.

  • FBCA means the Florida Business Corporation Act.