Special Limited Partner definition

Special Limited Partner means WNC Housing, L.P., a California limited partnership, and such other Persons as are admitted to the Partnership as additional or substitute Special Limited Partners pursuant to this Agreement.

Special Limited Partner means any of the persons shown in the books and records of the Partnership as a Special Limited Partner and any person admitted to the Partnership as an additional Special Limited Partner in accordance with the provisions of this Agreement.

Special Limited Partner means American Realty Capital Healthcare Special Limited Partnership, LLC, a Delaware limited liability company, which shall be a limited partner of the Partnership and recognized as such under applicable Delaware law, but not a “Limited Partner” within the meaning of this Agreement.

Examples of Special Limited Partner in a sentence

• If at the time of liquidation the General Partner or other liquidator shall determine that an immediate sale of part or all of the Partnership assets could cause undue loss to the Partners, the liquidator may, in order to avoid loss, but only with the Consent of the Special Limited Partner, either defer liquidation and retain all or a portion of the assets or distribute all or a portion of the assets to the Partners in kind.

• The Special Limited Partner covenants and agrees with the Partnership that the Special Limited Partner Interest shall be free and clear of all liens.

• The maturity date and repayment schedule of any such loan shall be as agreed to by the General Partner and the Special Limited Partner.

• Any elections or other decisions relating to such allocations shall be made by the General Partner with the Consent of the Special Limited Partner in any manner that reasonably reflects the purpose and intention of this Agreement.

• Further, the General Partner shall make any appropriate modifications, but only with the Consent of the Special Limited Partner, in the event it appears that unanticipated events (e.g., the existence of a Partnership election pursuant to Code Section 754) might otherwise cause this Agreement not to comply with Treasury Regulation Section 1.704.

More Definitions of Special Limited Partner

Special Limited Partner means the holder of Special Limited Partnership Units.

Special Limited Partner means the Person designated as “Special Limited Partner” on Exhibit A hereto.

Special Limited Partner means Preferred Apartment Advisors, LLC, a Delaware limited liability company, which shall be a limited partner of the Partnership and recognized as such under applicable Delaware law, but not a Limited Partner within the meaning of this Agreement.

Special Limited Partner has the meaning set forth in the Preamble, which shall be a limited partner of the Partnership and recognized as such under applicable Delaware law, but not a “Limited Partner” within the meaning of this Agreement.

Special Limited Partner shall have the meaning set forth in the introduction.

Special Limited Partner means BCTC 94, and any Person who becomes a Special Limited Partner as provided herein, in its capacity as a special limited partner of the Partnership.

Special Limited Partner means ARIS Special Limited Partner, LLC, a Delaware limited liability company, which shall be a limited partner of the Partnership and recognized as such under applicable Delaware law, but not a “Limited Partner” within the meaning of this Agreement (other than to the extent it owns Partnership Units).