Examples of Exempted Limited Partnership Law in a sentence
These funds typically include private equity and property funds and are often established as Cayman exempted limited partnerships (ELPs) under the Exempted Limited Partnership Law 2014 (the ELP Law).
If a pari passu rule is applied then, although there is no authority on the point, we believe that a court would also allow set off as an exception – either because it is provided by the Exempted Limited Partnership Law and the Companies Law or because it is just and equitable.
We do not consider this to be an issue (at least on the asset side) in relation to Exempted Limited Partnerships because of the entity type attributes accorded to them under the Exempted Limited Partnership Law, in particular, the fact that the assets are expressed to be held by the General Partner on trust for the Partnership and the fact that it is expressly provided that a change of limited partner or General Partner does not terminate or dissolve the Partnership.
An exempted limited partnership is prohibited from undertaking business with the public in the Cayman Islands except in furtherance of carrying on business outside the Cayman Islands and is governed by the Exempted Limited Partnership Law (2007 Revision).
In accordance with the Exempted Limited Partnership Law, Section 140(2) of the Companies Law also applies upon the insolvency of an Exempted Limited Partnership.
The General Partner enters into all agreements on behalf of the Partnership under general legal principles of agency as modified by the terms of the partnership agreement and either the Partnership Law or the Exempted Limited Partnership Law, as appropriate.
PAC 1 was incorporated on April 4, 2018 and an annual or interim audit of the financial statements of PAC 1 is not required under applicable Exempted Limited Partnership Law (2018 Revision).
Security over uncalled capital commitments and rights to call capital are typically expressed as an assignment by way of security and it is usual for both the fund (acting through its GP) and the GP to be party to the security agreement (the Exempted Limited Partnership Law (Revised) provides that the right to make capital calls and receive the proceeds of them are assets of the exempted limited partnership and are held on trust for the exempted limited partnership by the GP).
Documents related to the 38th Session of the CCFH will be accessible via the World Wide Web at the following address: http:// www.codexalimentarius.net/ current.asp.The U.S. Delegate to the CCFH, Dr. Robert Buchanan of FDA, invites U.S. interested parties to submit their comments electronically to the following e-mail address (Rebecca.Buckner@fda.hhs.gov).Registration:There is no need to pre-register for this meeting.
PAC 2 was incorporated on August 8, 2018 and an annual or interim audit of the financial statements of PAC 2 is not required under applicable Exempted Limited Partnership Law (2018 Revision).