Obligated Partners definition

Obligated Partners means that or those Limited Partner(s) listed as Obligated Partner(s) on Exhibit 5 attached hereto and made a part hereof, as such Exhibit may be amended from time to time by the General Partner, whether by express amendment to this Partnership Agreement or by execution of a written instrument by and between any additional Obligated Partner(s) being directly affected thereby and the General Partner, acting on behalf of the Partnership and without the prior consent of the Limited Partners (whether or not such Limited Partners are Obligated Partners or Indemnitor Partners other than the Obligated Partner(s) being directly affected thereby). Any successor, Assignee, or transferee of the entire Partnership Interest of an Obligated Partner shall be considered an Obligated Partner; provided, however, that (i) if an entity Obligated Partner makes a distribution of all or any portion of its Units, the General Partner shall, upon receipt of written notice from such Obligated Partner and such distributee(s) of Units, amend Exhibit 5 to add any such distributee(s) as an additional Obligated Partner in the manner set forth in such notice, and (ii) the General Partner shall not become an Obligated Partner with respect to any Units acquired from an Obligated Partner pursuant to Section 7.07 or otherwise.
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Obligated Partners means that or those Limited Partner(s) listed as Obligated Partner(s) on Schedule A attached hereto and made a part hereof, as such Schedule may be amended from time to time by the General Partner, whether by express amendment to this Partnership Agreement or by execution of a written instrument by and between any additional Obligated Partner(s) being directly affected thereby and the General Partner, acting on behalf of the Partnership and without the prior consent of the Limited Partners (whether or not Obligated Partners other than the Obligated Partner(s) being directly affected thereby). Any successor, Assignee, or transferee of the entire Partnership Interest of an Obligated Partner shall be considered an Obligated Partner; provided, however, that if an Obligated Partner makes a distribution of all or any portion of its OP Units in accordance with Section 12(B)(i)(z) hereof, the General Partner shall, upon receipt of written notice from such Obligated Partner and such distributee(s) of OP Units, amend Schedule A_ to add any such distributee(s) as an additional Obligated Partner in the manner set forth in such notice.
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Obligated Partners thereunder with a "Protected Amount" equal to the Protected Amount shown on such Schedule 3. Upon adoption of the Amendment, all tax returns filed by GGP Partnership shall report allocations of recourse liabilities to each Obligated Partner in an amount equal to such Obligated Partner's Protected Amount. In addition, any person who acquires, as a transferee, the Protected Units of an Obligated Partner in a transaction in which the adjusted basis of such transferee in such Protected Units is determined, in whole or in part, by reference to the adjusted basis of the Obligated Partner in such Protected Units, may elect to become an Obligated Partner by assuming a portion of, or the full amount of, such transferor Obligated Partner's Protected Amount. In the event of such a transfer and election by the transferee, the transferor Obligated Partner and the transferee electing to become an Obligated Partner hereunder shall notify GGP Partnership of their intention that the transferee become an Obligated Partner in connection with such acquisition, and Schedule 3 of this Agreement and Exhibit __ of the GGP Partnership Agreement shall be amended to include such transferee as an Obligated Partner with a Protected Amount in the amount agreed to by such transferee Obligated Partner, and the Protected Amount of the transferor Obligated Partner shall be correspondingly reduced.
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Examples of Obligated Partners in a sentence

  • Any such contribution by an Obligated Partner shall be used to make payments to creditors of the Partnership and such Obligated Partners (i) shall not be subrogated to the rights of any such creditor against the General Partner, the Partnership, another Partner or any Person related thereto, and (ii) hereby waive any right to reimbursement, contribution or similar right to which such Obligated Partners might otherwise be entitled as a result of the performance of their obligations under this Agreement.

  • Any such contribution by an Obligated Partner shall be used to make payments to creditors of the Partnership and such Obligated Partners (i) shall not be subrogated to the rights of any such creditor against the General Partner, the Partnership, another Partner, or any Person related thereto, and (ii) hereby waive any right to reimbursement, contribution or similar right to which such Obligated Partners might otherwise be entitled as a result of the performance of their obligations under this Agreement.

  • EXHIBIT C Obligated Partners Exhibit C Protected Amounts Obligated Partner Protected Amount* Cache Valley Mall Partnership, Ltd.

  • EXHIBIT B to the Partnership Agreement is hereby deleted in its entirety and replace by EXHIBIT B hereto which identifies each Obligated Partner of the Partnership and such Obligated Partner's respective Restoration Amount.

  • Such Obligated Partners (i) shall not be subrogated to the rights of any such creditor against the General Partner, the Partnership, another Partner or any person related thereto, and (ii) hereby waive any right to reimbursement, contributions or similar right to which such Obligated Partners might otherwise be entitled as a result of the performance of its obligations under this Partnership Agreement.

  • Such contributions shall be used to make payments to creditors of the Partnership and such Obligated Partners (i) shall not be subrogated to the rights of any such creditor against the General Partner, the Partnership, another Partner or any person related thereto, and (ii) hereby waive any right to reimbursement, contribution or similar right to which such Obligated Partners might otherwise be entitled as a result of the performance of its obligations under this Agreement.

  • Notary Public – Signature Notary Public – Printed My Commission Expires: My County of Residence: Exhibit 5 Obligated Partners Partner Restoration Amount Xxxxx X.


More Definitions of Obligated Partners

Obligated Partners means that or those Limited Partner(s) listed as Obligated Partner(s) from time to time as recorded in the books and records maintained by the General Partner, whether by express amendment to this Partnership Agreement or by execution of a written instrument by and between any additional Obligated Partner(s) being directly affected thereby and the General Partner, acting on behalf of the Partnership and without the prior consent of the Limited Partners (whether or not Obligated Partners other than the Obligated Partner(s) being directly affected thereby). Any successor, Assignee, or transferee of the entire Partnership Interest of an Obligated Partner shall be considered an Obligated Partner; provided, however, that if an Obligated Partner makes a distribution of all or any portion of its OP Units in accordance with Section 12(B)(i)(z) hereof, the General Partner shall, upon receipt of written notice from such Obligated Partner and such distributee(s) of OP Units, add any such distributee(s) as an additional Obligated Partner in the manner set forth in such notice.
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Obligated Partners means that or those Limited Partner(s) listed as Obligated Partner(s) on Schedule D attached hereto and made a part hereof, as such Schedule may be amended from time to time by the General Partner, whether by express amendment to this Partnership Agreement or by execution of a written instrument by and between any additional Obligated Partner(s) being directly affected thereby and the General Partner, acting on behalf of the Partnership and without the prior consent of the Limited Partners (whether or not Obligated Partners other than the Obligated Partner(s) being directly affected thereby). Any successor,
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Obligated Partners means that or those Limited Partner(s) listed as Obligated Partner(s) on EXHIBIT B attached hereto and made a part hereof, as such exhibit may be amended from time to time by the General Partner. Any successor, assignee or transferee of the entire Partnership Interest of an Obligated Partner shall be considered an Obligated Partner; provided, however, that if an Obligated Partner, which is not an individual (an "Entity Obligated Partner"), makes a liquidating distribution to an interest holder who is being allocated a portion of such Entity Obligated Partner's Restoration Amount, the General Partner shall amend EXHIBIT B to add such distributee as an additional Obligated Partner with a Restoration Amount equal to such distributee's allocable share of such Entity Obligated Partner's Restoration Amount and the Restoration Amount of the Entity Obligated Partner shall be reduced accordingly.
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Related to Obligated Partners

  • Operating Partnership has the meaning set forth in the preamble.

  • General partnership means an organization formed under chapters 45-13 through 45-21.

  • Business Partner means a legal entity that requires use of a training service in connection with Customer’s and its Affiliates’ internal business operations. These may include customers, distributors, service providers and/or suppliers of Customer.

  • Operating Company means an “operating company” within the meaning of 29 C.F.R. §2510.3-101(c) of the Plan Asset Regulations.

  • Asset Management Company means an asset Management Company as defined in the Rules and Regulations.

  • General Partners means all such Persons.

  • Partners means the General Partner and the Limited Partners.

  • Partnership Subsidiary means Host LP and any partnership, limited liability company, or other entity treated as a partnership for federal income tax purposes or disregarded as a separate entity for federal income tax purposes in which either Host REIT or Host LP owns (or owned on or after January 1, 1999) an interest, either directly or through one or more other partnerships, limited liability companies or other entities treated as a partnership for federal income tax purposes or disregarded as a separate entity for federal income tax purposes (whether or not Host REIT or Host LP has a controlling interest in, or otherwise has the ability to control or direct the operation of, such entity). Notwithstanding the foregoing, the term “Partnership Subsidiary” shall not in any way be deemed to include the Non-Controlled Subsidiaries or subsidiaries thereof, the Taxable REIT Subsidiaries or subsidiaries thereof, or the Subsidiary REITs or subsidiaries thereof.

  • General Partner has the meaning set forth in the Preamble.

  • Management Company means the firm overseeing the operation and management of the Participating Property; and shall mean the Grantee in any event wherein the Management Company is required to perform any obligations under this Agreement.

  • Operating Lessee means, with respect to a Hotel Property, the Subsidiary of the Parent Guarantor that leases such Hotel Property from a Subsidiary of the Parent Guarantor that is the owner or ground lessee of such Hotel Property.

  • Partnership Group Member means any member of the Partnership Group.

  • Borrower Partnership Agreement means the Limited Partnership Agreement of the Borrower dated as of January 17, 2014 as such agreement may be amended, restated, modified or supplemented from time to time with the consent of the Administrative Agent or as permitted under Section 10.10.

  • GP means Gottbetter & Partners, LLP.

  • LP means the aggregate quantity of Lost Production during such Month (expressed in MWh) and

  • Departing General Partner means a former General Partner from and after the effective date of any withdrawal or removal of such former General Partner pursuant to Section 11.1 or Section 11.2.

  • MLP has the meaning given such term in the introduction to this Agreement.

  • CLO Asset Manager means, with respect to any Securitization Vehicle that is a CLO, the entity that is responsible for managing or administering the underlying assets of such Securitization Vehicle or, if applicable, the assets of any Intervening Trust Vehicle (including, without limitation, the right to exercise any consent and control rights available to the Directing Holder).

  • Management Entity means the community developmental disability program or private corporation that operates the regional crisis diversion program, including acting as the fiscal agent for regional crisis diversion funds and resources.

  • Management Group means at any time, the Chairman of the board of directors, the Chief Executive Officer, the President, any Managing Director, Executive Vice President, Senior Vice President or Vice President, any Treasurer and any Secretary of Holdings or other executive officer of Holdings or any Subsidiary of Holdings at such time.