Capital Commitment Capital Accounts. (a) There shall be established for each Partner in the books of the Partnership as of the date of formation of the Partnership, or such later date on which such Partner is admitted to the Partnership, and on each such other date as such Partner first acquires a Capital Commitment Interest in a particular Capital Commitment Investment, a Capital Commitment Capital Account for each Capital Commitment Investment in which such Partner acquires a Capital Commitment Interest on such date. Each Capital Commitment-Related Capital Contribution of a Partner shall be credited to the appropriate Capital Commitment Capital Account of such Partner on the date such Capital Commitment-Related Capital Contribution is paid to the Partnership. Capital Commitment Capital Accounts shall be adjusted to reflect any transfer of a Partner’s interest in the Partnership related to his or her Capital Commitment Partner Interest as provided in this Agreement. (b) A Partner shall not have any obligation to the Partnership or to any other Partner to restore any negative balance in the Capital Commitment Capital Account of such Partner. Until distribution of any such Partner’s interest in the Partnership with respect to a Capital Commitment Interest as a result of the disposition by the Partnership of the related Capital Commitment Investment and in whole upon the dissolution of the Partnership, neither such Partner’s Capital Commitment Capital Accounts nor any part thereof shall be subject to withdrawal or redemption except with the consent of the General Partner.
Appears in 23 contracts
Samples: Limited Partnership Agreement (Blackstone Inc.), Limited Partnership Agreement (Blackstone Inc.), Limited Partnership Agreement (Blackstone Inc.)
Capital Commitment Capital Accounts. (a) There shall be established for each Partner in Member on the books of the Partnership Company as of the date of formation of the PartnershipCompany, or such later date on which such Partner Member is admitted to the PartnershipCompany, and on each such other date as such Partner Member first acquires a Capital Commitment Interest in a particular Capital Commitment Investment, a Capital Commitment Capital Account for each Capital Commitment Investment in which such Partner Member acquires a Capital Commitment Interest on such date. Each Capital Commitment-Related Commitment Capital Contribution of a Partner Member shall be credited to the appropriate Capital Commitment Capital Account of such Partner Member on the date such Capital Commitment-Related Commitment Capital Contribution is paid to the PartnershipCompany. Capital Commitment Capital Accounts shall be adjusted to reflect any transfer of a PartnerMember’s interest in the Partnership Company related to his or her Capital Commitment Partner Member Interest as provided in this Agreement.
(b) A Partner Member shall not have any obligation to the Partnership Company or to any other Partner Member to restore any negative balance in the Capital Commitment Capital Account of such PartnerMember. Until distribution of any such PartnerMember’s interest in the Partnership Company with respect to a Capital Commitment Interest as a result of the disposition by the Partnership Company of the related Capital Commitment Investment and in whole upon the dissolution of the PartnershipCompany, neither such Partnermember’s Capital Commitment Capital Accounts nor any part thereof shall be subject to withdrawal or redemption except with the consent of the General PartnerManaging Member.
Appears in 18 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement, Limited Liability Company Agreement (Blackstone Group L.P.)
Capital Commitment Capital Accounts. (a) There shall be established for each Partner in on the books of the Partnership as of the date of formation of the Partnership, or such later date on which such Partner is admitted to the Partnership, and on each such other date as such Partner first acquires a Capital Commitment Interest in a particular Capital Commitment Investment, a Capital Commitment Capital Account for each Capital Commitment Investment in which such Partner acquires a Capital Commitment Interest on such date. Each Capital Commitment-Related Capital Contribution of a Partner shall be credited to the appropriate Capital Commitment Capital Account of such Partner on the date such Capital Commitment-Related Capital Contribution is paid to the Partnership. Capital Commitment Capital Accounts shall be adjusted to reflect any transfer of a Partner’s interest in the Partnership related to his or her Capital Commitment Partner Interest Interest, as provided in this Agreement.
(b) A Partner shall not have any obligation to the Partnership or to any other Partner to restore any negative balance in the Capital Commitment Capital Account of such Partner. Until distribution of any such Partner’s interest in the Partnership with respect to a Capital Commitment Interest as a result of the disposition by the Partnership of the related Capital Commitment Investment and in whole upon the dissolution of the Partnership, neither such Partner’s Capital Commitment Capital Accounts nor any part thereof shall be subject to withdrawal or redemption except with the consent of the General Partner.
Appears in 11 contracts
Samples: Limited Partnership Agreement (Blackstone Inc.), Agreement of Limited Partnership (Blackstone Inc.), Agreement of Limited Partnership (Blackstone Inc.)
Capital Commitment Capital Accounts. (a) There shall be established for each Partner in on the books of the Partnership as of the date of formation of the Partnership, or such later date on which such Partner is admitted to the Partnership, and on each such other date as such Partner first acquires a Capital Commitment Interest in a particular Capital Commitment Investment, a Capital Commitment Capital Account for each Capital Commitment Investment in which such Partner acquires a Capital Commitment Interest on such date. Each Capital Commitment-Related Capital Contribution of a Partner shall be credited to the appropriate Capital Commitment Capital Account of such Partner on the date such Capital Commitment-Related Capital Contribution is paid to the Partnership. Capital Commitment Capital Accounts shall be adjusted to reflect any transfer of a Partner’s interest in the Partnership related to his or her Capital Commitment Partner Interest Interest, as provided in this Agreement.
(b) A Partner shall not have any obligation to the Partnership or to any other Partner to restore any negative balance in the Capital Commitment Capital Account of such Partner. Until distribution of any such Partner’s interest in the Partnership with respect to a Capital Commitment Interest as a result of the disposition by the Partnership of the related Capital Commitment Investment and in whole upon the dissolution of the Partnership, neither such Partner’s Capital Commitment Capital Accounts nor any part thereof shall be subject to withdrawal or redemption except with the consent of the General Partner.
Appears in 8 contracts
Samples: Limited Partnership Agreement (Blackstone Inc.), Agreement of Limited Partnership (Blackstone Group Inc), Agreement of Limited Partnership (Blackstone Group L.P.)
Capital Commitment Capital Accounts. (a) There shall be established for each Partner in Member on the books of the Partnership Company as of the date of formation of the PartnershipCompany, or such later date on which such Partner Member is admitted to the PartnershipCompany, and on each such other date as such Partner Member first acquires a Capital Commitment Interest in a particular Capital Commitment Investment, a Capital Commitment Capital Account for each Capital Commitment Investment in which such Partner Member acquires a Capital Commitment Interest on such date. Each Capital Commitment-Related Commitment Capital Contribution of a Partner Member shall be credited to the appropriate Capital Commitment Capital Account of such Partner Member on the date such Capital Commitment-Related Commitment Capital Contribution is paid to the PartnershipCompany. Capital Commitment Capital Accounts shall be adjusted to reflect any transfer of a PartnerMember’s interest in the Partnership Company related to his or her Capital Commitment Partner Member Interest as provided in this Agreement.
(b) A Partner Member shall not have any obligation to the Partnership Company or to any other Partner Member to restore any negative balance in the Capital Commitment Capital Account of such PartnerMember. Until distribution of any such PartnerMember’s interest in the Partnership Company with respect to a Capital Commitment Interest as a result of the disposition by the Partnership Company of the related Capital Commitment Investment and in whole upon the dissolution of the PartnershipCompany, neither such PartnerMember’s Capital Commitment Capital Accounts nor any part thereof shall be subject to withdrawal or redemption except with the consent of the General PartnerManaging Member.
Appears in 7 contracts
Samples: Limited Liability Company Agreement (Blackstone Group L.P.), Limited Liability Company Agreement (Blackstone Group L.P.), Limited Liability Company Agreement (Blackstone Group L.P.)
Capital Commitment Capital Accounts. (a) There shall be established for each Partner in (other than the Cayman GP) on the books of the Partnership as of the date of formation of the Partnership, or such later date on which such Partner is admitted to the Partnership, and on each such other date as such Partner first acquires a Capital Commitment Interest in a particular Capital Commitment Investment, a Capital Commitment Capital Account for each Capital Commitment Investment in which such Partner acquires a Capital Commitment Interest on such date. Each Capital Commitment-Related Capital Contribution of a Partner shall be credited to the appropriate Capital Commitment Capital Account of such Partner on the date such Capital Commitment-Related Capital Contribution is paid to the Partnership. Capital Commitment Capital Accounts shall be adjusted to reflect any transfer of a Partner’s interest in the Partnership related to his or her Capital Commitment Partner Interest Interest, as provided in this Agreement.
(b) A Partner shall not have any obligation to the Partnership or to any other Partner to restore any negative balance in the Capital Commitment Capital Account of such Partner. Until distribution of any such Partner’s interest in the Partnership with respect to a Capital Commitment Interest as a result of the disposition by the Partnership of the related Capital Commitment Investment and in whole upon the winding up and dissolution of the Partnership, neither such Partner’s Capital Commitment Capital Accounts nor any part thereof shall be subject to withdrawal or redemption except with the consent of the General Partner.
Appears in 7 contracts
Samples: Agreement of Exempted Limited Partnership (Blackstone Group L.P.), Agreement of Exempted Limited Partnership (Blackstone Group L.P.), Agreement of Exempted Limited Partnership (Blackstone Group L.P.)
Capital Commitment Capital Accounts. (a) There shall be established for each Partner in the books of the Partnership as of the date of formation of the Partnership, or such later date on which such Partner is admitted to the Partnership, and on each such other date as such Partner first acquires a Capital Commitment Interest in a particular Capital Commitment Investment, a Capital Commitment Capital Account for each Capital Commitment Investment in which such Partner acquires a Capital Commitment Interest on such date. Each Capital Commitment-Related Capital Contribution of a Partner shall be credited to the appropriate Capital Commitment Capital Account of such Partner on the date such Capital Commitment-Related Capital Contribution is paid to the Partnership. Capital Commitment Capital Accounts shall be adjusted to reflect any transfer of a Partner’s interest in the Partnership related to his or her Capital Commitment Partner Interest Interest, as provided in this Agreement.
(b) A Partner shall not have any obligation to the Partnership or to any other Partner to restore any negative balance in the Capital Commitment Capital Account of such Partner. Until distribution of any such Partner’s interest in the Partnership with respect to a Capital Commitment Interest as a result of the disposition by the Partnership of the related Capital Commitment Investment and in whole upon the dissolution of the Partnership, neither such Partner’s Capital Commitment Capital Accounts nor any part thereof shall be subject to withdrawal or redemption except with the consent of the General Partner.
Appears in 4 contracts
Samples: Limited Partnership Agreement (Blackstone Group Inc), Limited Partnership Agreement (Blackstone Group Inc), Limited Partnership Agreement (Blackstone Group Inc)
Capital Commitment Capital Accounts. (a) There shall be established for each Partner (other than the Cayman GP) in the books of the Partnership as of the date of formation of the Partnership, or such later date on which such Partner is admitted to the Partnership, and on each such other date as such Partner first acquires a Capital Commitment Interest in a particular Capital Commitment Investment, a Capital Commitment Capital Account for each Capital Commitment Investment in which such Partner acquires a Capital Commitment Interest on such date. Each Capital Commitment-Related Capital Contribution of a Partner shall be credited to the appropriate Capital Commitment Capital Account of such Partner on the date such Capital Commitment-Related Capital Contribution is paid to the Partnership. Capital Commitment Capital Accounts shall be adjusted to reflect any transfer of a Partner’s interest in the Partnership related to his or her Capital Commitment Partner Interest as provided in this Agreement.
(b) A Partner shall not have any obligation to the Partnership or to any other Partner to restore any negative balance in the Capital Commitment Capital Account of such Partner. Until distribution of any such Partner’s interest in the Partnership with respect to a Capital Commitment Interest as a result of the disposition by the Partnership of the related Capital Commitment Investment and in whole upon the winding up and dissolution of the Partnership, neither such Partner’s Capital Commitment Capital Accounts nor any part thereof shall be subject to withdrawal or redemption except with the consent of the General Partner.
Appears in 3 contracts
Samples: Amended and Restated Agreement of Exempted Limited Partnership (Blackstone Group Inc), Agreement of Exempted Limited Partnership (Blackstone Group Inc), Agreement of Exempted Limited Partnership (Blackstone Group Inc)
Capital Commitment Capital Accounts. (a) There shall be established for each Partner in Member on the books of the Partnership Company as of the date of formation of the PartnershipCompany, or such later date on which such Partner Member is admitted to the PartnershipCompany, and on each such other date as such Partner Member first acquires a Capital Commitment Interest in a particular Capital Commitment Investment, a Capital Commitment Capital Account for each Capital Commitment Investment in which such Partner Member acquires a Capital Commitment Interest on such date. Each Capital Commitment-Related Capital Contribution of a Partner Member shall be credited to the appropriate Capital Commitment Capital Account of such Partner Member on the date such Capital Commitment-Related Capital Contribution is paid to the PartnershipCompany. Capital Commitment Capital Accounts shall be adjusted to reflect any transfer of a PartnerMember’s interest in the Partnership Company related to his or her Capital Commitment Partner Interest Member Interest, as provided in this Agreement.
(b) A Partner Member shall not have any obligation to the Partnership Company or to any other Partner Member to restore any negative balance in the Capital Commitment Capital Account of such PartnerMember. Until distribution of any such PartnerMember’s interest in the Partnership Company with respect to a Capital Commitment Interest as a result of the disposition by the Partnership Company of the related Capital Commitment Investment and in whole upon the dissolution of the PartnershipCompany, neither such PartnerMember’s Capital Commitment Capital Accounts nor any part thereof shall be subject to withdrawal or redemption except with the consent of the General PartnerManaging Member.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Blackstone Group L.P.), Limited Liability Company Agreement (Blackstone Group L.P.), Limited Liability Company Agreement (Blackstone Group L.P.)
Capital Commitment Capital Accounts. (a) There shall be established for each Partner in (other than the Cayman GP) on the books of the Partnership as of the date of formation of the Partnership, or such later date on which such Partner is admitted to the Partnership, and on each such other date as such Partner first acquires a Capital Commitment Interest in a particular Capital Commitment Investment, a Capital Commitment Capital Account for each Capital Commitment Investment in which such Partner acquires a Capital Commitment Interest on such date. Each Capital Commitment-Related Capital Contribution of a Partner shall be credited to the appropriate Capital Commitment Capital Account of such Partner on the date such Capital Commitment-Related Capital Contribution is paid to the Partnership. Capital Commitment Capital Accounts shall be adjusted to reflect any transfer of a Partner’s interest in the Partnership related to his or her Capital Commitment Partner Interest Interest, as provided in this Agreement.
(b) A Partner shall not have any obligation to the Partnership or to any other Partner to restore any negative balance in the Capital Commitment Capital Account of such Partner. Until distribution of any such Partner’s interest in the Partnership with respect to a Capital Commitment Interest as a result of the disposition by the Partnership of the related Capital Commitment Investment and in whole upon the winding up and dissolution of the Partnership, neither such Partner’s Capital Commitment Capital Accounts nor any part thereof shall be subject to withdrawal or redemption except with the consent of the General Partner.
Appears in 2 contracts
Samples: Agreement of Exempted Limited Partnership (Blackstone Group L.P.), Agreement of Exempted Limited Partnership (Blackstone Group L.P.)
Capital Commitment Capital Accounts. (a) There shall be established for each Partner in on the books of the Partnership as of the date of formation of the Partnership, or such later date on which such Partner is admitted to the Partnership, and on each such other date as such Partner first acquires a Capital Commitment Interest in a particular Capital Commitment Investment, a Capital Commitment Capital Account for each Capital Commitment Investment in which such Partner acquires a Capital Commitment Interest on such date. Each Capital Commitment-Related Capital Contribution of a Partner shall be credited to the appropriate Capital Commitment Capital Account of such Partner on the date such Capital Commitment-Related Capital Contribution is paid to the Partnership. Capital Commitment Capital Accounts shall be adjusted to reflect any transfer of a Partner’s interest in the Partnership related to his or her Capital Commitment Partner Interest Interest, as provided in this Agreement.
(b) A Partner shall not have any obligation to the Partnership or to any other Partner to restore any negative balance in the Capital Commitment Capital Account of such Partner. Until distribution of any such Partner’s interest in the Partnership with respect to a Capital Commitment Interest as a result of the disposition by the Partnership of the related Capital Commitment Investment and in whole upon the dissolution of the Partnership, neither such Partner’s his Capital Commitment Capital Accounts nor any part thereof shall be subject to withdrawal or redemption except with the consent of the General Partner.
Appears in 2 contracts
Samples: Agreement of Limited Partnership (Blackstone Group L.P.), Limited Partnership Agreement (Blackstone Group L.P.)
Capital Commitment Capital Accounts. (a) There shall be established for each Partner in the books of the Partnership as of the date of formation of the Partnership, or such later date on which such Partner is admitted to the Partnership, and on each such other date as such Partner first acquires a Capital Commitment Interest in a particular Capital Commitment Investment, a Capital Commitment Capital Account for each Capital Commitment Investment in which such Partner acquires a Capital Commitment Interest on such date. Each Capital Commitment-Related Capital Contribution of a Partner shall be credited to the appropriate Capital Commitment Capital Account of such Partner on the date such Capital Commitment-Related Capital Contribution is paid to the Partnership. Capital Commitment Capital Accounts shall be adjusted to reflect any transfer of a Partner’s interest in the Partnership related to his or her Capital Commitment Partner Interest as provided in this Agreement.
(b) A Partner shall not have any obligation to the Partnership or to any other Partner to restore any negative balance in the Capital Commitment Capital Account of such Partner. Until distribution of any such Partner’s interest in the Partnership with respect to a Capital Commitment Interest as a result of the disposition by the Partnership of the related Capital Commitment Investment and in whole upon the winding-up or dissolution of the Partnership, neither such Partner’s Capital Commitment Capital Accounts nor any part thereof shall be subject to withdrawal or redemption except with the consent of the General Partner.
Appears in 2 contracts
Samples: Exempted Limited Partnership Agreement (Blackstone Inc.), Limited Partnership Agreement (Blackstone Inc.)
Capital Commitment Capital Accounts. (a) There shall be established for each Partner in the books of the Partnership as of the date of formation of the Partnership, or such later date on which such Partner is admitted to the Partnership, and on each such other date as such Partner first acquires a Capital Commitment Interest in a particular Capital Commitment Investment, a Capital Commitment Capital Account for each Capital Commitment Investment in which such Partner acquires a Capital Commitment Interest on such date. Each Capital Commitment-Related Capital Contribution of a Partner shall be credited to the appropriate Capital Commitment Capital Account of such Partner on the date such Capital Commitment-Related Capital Contribution is paid to the Partnership. Capital Commitment Capital Accounts shall be adjusted to reflect any transfer of a Partner’s interest in the Partnership related to his or her Capital Commitment Partner Interest as provided in this Agreement.
(b) A Partner shall not have any obligation to the Partnership or to any other Partner to restore any negative balance in the Capital Commitment Capital Account of such Partner. Until distribution of any such Partner’s interest in the Partnership with respect to a Capital Commitment Interest as a result of the disposition by the Partnership of the related Capital Commitment Investment and in whole upon the winding up and dissolution of the Partnership, neither such Partner’s Capital Commitment Capital Accounts nor any part thereof shall be subject to withdrawal or redemption except with the consent of the General Partner.
Appears in 2 contracts
Samples: Amended and Restated Agreement of Exempted Limited Partnership (Blackstone Inc.), Agreement of Exempted Limited Partnership (Blackstone Group Inc)
Capital Commitment Capital Accounts. (a) There shall be established for each Partner in the books of the Partnership as of the date of formation of the Partnership, or such later date on which such Partner is admitted to the Partnership, and on each such other date as such Partner first acquires a Capital Commitment Interest in a particular Capital Commitment Investment, a Capital Commitment Capital Account for each Capital Commitment Investment in which such Partner acquires a Capital Commitment Interest on such date. Each Capital Commitment-Related Capital Contribution of a Partner shall be credited to the appropriate Capital Commitment Capital Account of such Partner on the date such Capital Commitment-Related Capital Contribution is paid to the Partnership. Capital Commitment Capital Accounts shall be adjusted to reflect any transfer of a Partner’s interest in the Partnership related to his or her Capital Commitment Partner Interest as provided in this Agreement.
(ba) A Partner shall not have any obligation to the Partnership or to any other Partner to restore any negative balance in the Capital Commitment Capital Account of such Partner. Until distribution of any such Partner’s interest in the Partnership with respect to a Capital Commitment Interest as a result of the disposition by the Partnership of the related Capital Commitment Investment and in whole upon the dissolution of the Partnership, neither such Partner’s Capital Commitment Capital Accounts nor any part thereof shall be subject to withdrawal or redemption except with the consent of the General Partner.
Appears in 1 contract
Capital Commitment Capital Accounts. (a) There shall be established for each Partner in (other than the Cayman GP) on the books of the Partnership as of the date of formation of the Partnership, or such later date on which such Partner is admitted to the Partnership, and on each such other date as such Partner first acquires a Capital Commitment Interest in a particular Capital Commitment Investment, a Capital Commitment Capital Account for each Capital Commitment Investment in which such Partner acquires a Capital Commitment Interest on such date. Each Capital Commitment-Related Capital Contribution of a Partner shall be credited to the appropriate Capital Commitment Capital Account of such Partner on the date such Capital Commitment-Related Capital Contribution is paid to the Partnership. Capital Commitment Capital Accounts shall be adjusted to reflect any transfer of a Partner’s interest in the Partnership related to his or her Capital Commitment Partner Interest Interest, as provided in this Agreement.
(b) A Partner shall not have any obligation to the Partnership or to any other Partner to restore any negative balance in the Capital Commitment Capital Account of such Partner. Until distribution of any such Partner’s interest in the Partnership with respect to a Capital Commitment Interest as a result of the disposition by the Partnership of the related Capital Commitment Investment and in whole upon the dissolution of the Partnership, neither such Partner’s Capital Commitment Capital Accounts nor any part thereof shall be subject to withdrawal or redemption except with the consent of the General Partner.
Appears in 1 contract
Samples: Agreement of Exempted Limited Partnership (Blackstone Group L.P.)
Capital Commitment Capital Accounts. (a) There shall be established for each Partner in Member on the books of the Partnership Company as of the date of formation of the PartnershipCompany, or such later date on which such Partner Member is admitted to the PartnershipCompany, and on each such other date as such Partner Member first acquires a Capital Commitment Interest in a particular Capital Commitment Investment, a Capital Commitment Capital Account for each Capital Commitment Investment in which such Partner Member acquires a Capital Commitment Interest on such date. Each Capital Commitment-Related Capital Contribution of a Partner Member shall be credited to the appropriate Capital Commitment Capital Account of such Partner Member on the date such Capital Commitment-Related Capital Contribution is paid to the PartnershipCompany. Capital Commitment Capital Accounts shall be adjusted to reflect any transfer of a PartnerMember’s interest in the Partnership Company related to his or her Capital Commitment Partner Member Interest as provided in this Agreement.
(b) A Partner Member shall not have any obligation to the Partnership Company or to any other Partner Member to restore any negative balance in the Capital Commitment Capital Account of such PartnerMember. Until distribution of any such PartnerMember’s interest in the Partnership Company with respect to a Capital Commitment Interest as a result of the disposition by the Partnership Company of the related Capital Commitment Investment and in whole upon the dissolution of the PartnershipCompany, neither such PartnerMember’s Capital Commitment Capital Accounts nor any part thereof shall be subject to withdrawal or redemption except with the consent of the General PartnerManaging Member.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Blackstone Group L.P.)
Capital Commitment Capital Accounts. (a) There shall be established for each Partner in on the books of the Partnership as of the date of formation of the PartnershipDecember 31, 2015, or such later date on which such Partner is admitted to the Partnership, and on each such other date as such Partner first acquires a Capital Commitment Interest in a particular Capital Commitment Investment, a Capital Commitment Capital Account for each Capital Commitment Investment in which such Partner acquires a Capital Commitment Interest on such date. Each Capital Commitment-Related Commitment Capital Contribution of a Partner shall be credited to the appropriate Capital Commitment Capital Account of such Partner on the date such Capital Commitment-Related Commitment Capital Contribution is paid to the Partnership. Capital Commitment Capital Accounts shall be adjusted to reflect any transfer of a Partner’s interest in the Partnership related to his or her Capital Commitment Partner Interest as provided in this Agreement.
(b) A Partner shall not have any obligation to the Partnership or to any other Partner to restore any negative balance in the Capital Commitment Capital Account of such Partner. Until distribution of any such Partner’s interest in the Partnership with respect to a Capital Commitment Interest as a result of the disposition by the Partnership of the related Capital Commitment Investment and in whole upon the winding up and dissolution of the Partnership, neither such Partnermember’s Capital Commitment Capital Accounts nor any part thereof shall be subject to withdrawal or redemption except with the consent of the General PartnerDelaware GP.
Appears in 1 contract
Samples: Exempted Limited Partnership Agreement (Blackstone Group L.P.)
Capital Commitment Capital Accounts. (a) There shall be established for each Partner Member in the books of the Partnership Company as of the date of formation of the PartnershipCompany, or such later date on which such Partner Member is admitted to the PartnershipCompany, and on each such other date as such Partner Member first acquires a Capital Commitment Interest in a particular Capital Commitment Investment, a Capital Commitment Capital Account for each Capital Commitment Investment in which such Partner Member acquires a Capital Commitment Interest on such date. Each Capital Commitment-Related Capital Contribution of a Partner Member shall be credited to the appropriate Capital Commitment Capital Account of such Partner Member on the date such Capital Commitment-Related Capital Contribution is paid to the PartnershipCompany. Capital Commitment Capital Accounts shall be adjusted to reflect any transfer of a PartnerMember’s interest in the Partnership Company related to his or her Capital Commitment Partner Member Interest as provided in this Agreement.
(b) A Partner Member shall not have any obligation to the Partnership Company or to any other Partner Member to restore any negative balance in the Capital Commitment Capital Account of such PartnerMember. Until distribution of any such PartnerMember’s interest in the Partnership Company with respect to a Capital Commitment Interest as a result of the disposition by the Partnership Company of the related Capital Commitment Investment and in whole upon the dissolution of the PartnershipCompany, neither such PartnerMember’s Capital Commitment Capital Accounts nor any part thereof shall be subject to withdrawal or redemption except with the consent of the General PartnerManaging Member.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Blackstone Group Inc)