Specified Partnership definition

Specified Partnership means a limited partnership for which HPS GP, LLC or one of its affiliates is the sole general partner, for which the Borrower and one or more of other funds managed or advised by the Collateral Manager or its Affiliates are the sole limited partners, and that is formed for the principal purpose of holding one or more Collateral Loans.
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Specified Partnership means (i) any Subsidiary of the Company and (ii) any entity other than a Subsidiary of the Company in which the Company or any of its Subsidiaries owns an interest, in each case that is treated as a partnership for U.S. federal income Tax purposes.
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Examples of Specified Partnership in a sentence

  • Upon any such contribution of an Excluded Property or the proceeds therefrom, the Special Limited Partner shall receive in exchange for such contribution, notwithstanding the actual value of such Excluded Property or the amount of such proceeds (as the case may be), the Specified Partnership Units applicable to such Excluded Property.

  • The Partnership is expressly authorized to issue the Specified Partnership Units in the numbers specified in this Section 4.9 without any further act, approval or vote of any Partner or any other Persons.

  • Each Specified Partnership shall be entitled to engage U.S. Bank National Association as its custodian for purposes of the Specified Partnership Collateral Loans owned by such Specified Partnership (including, without limitation, in connection with the establishment of any custody accounts for such Specified Partnership).

  • The Borrower (a) has no Subsidiaries and (b) owns no Equity Interest in any other entity, except in each case for any Specified Partnership, the Investment Subsidiary, any Permitted Additional Subsidiary and any Equity Interest received in connection with the exercise of remedies against an Obligor or through a restructuring of the Obligor.

  • For the avoidance of doubt, no fees, expenses or indemnities payable to U.S. Bank National Association by the Specified Partnerships shall constitute Administrative Expenses hereunder or otherwise be payable by any Credit Party hereunder unless in the case of any Specified Partnership Full Pledge Documents shall have been delivered with respect to such Specified Partnership (and, in such case, such amounts shall be treated as Administrative Expenses).

  • Without limiting the foregoing, the Borrower shall promptly notify the Blackstone Asset Based Finance Representative in writing upon the Borrower becoming aware of any violation of the Specified Partnership Holding Criteria, including the incurrence of, or assertion by any relevant taxing authority of, any tax liabilities against such Specified Partnership or its general partnership or the incurrence by any Specified Partnership (or its general partnership) of any other liabilities or Liens.

  • Upon any such contribution of an Excluded Property or the proceeds therefrom, WEA shall receive in exchange for such contribution, notwithstanding the actual value of such Excluded Property or the amount of such proceeds (as the case may be), an amount of Partnership Common Units equal to the Specified Partnership Common Unit Amount.

  • Upon any such contribution of an Excluded Property or the proceeds therefrom, WEA shall receive in exchange for such contribution, notwithstanding the actual value of such Excluded Property or the amount of such proceeds (as the case may be), the Specified Partnership Units applicable to such Excluded Property.

  • The Specified Partnership Value may be a positive or negative amount.

  • Subject to the satisfaction of the Specified Partnership Holding Criteria, for purposes of this Agreement and the other Loan Documents (including for purposes of compliance with the Concentration Limitations), the Collateral Portfolio will be deemed to include the applicable Specified LP Percentage Share of each Collateral Loan and Eligible Investment owned by the Specified Partnerships as if each were owned by the Borrower directly.