General Partner's Fees and Carried Interest Sample Clauses

General Partner's Fees and Carried Interest. From October 2008 until June 10, 2013, i.e., the date when the Auction 78 licenses were issued to the Partnership, the General Partner’s annual management fee was $108,000 ($75,000 in cash and $33,000 deferred). As of the date this Agreement, the cumulative amount owed to the General Partner as deferred management fees (the “Deferred Management Fee”) is $154,916. From June 10, 2013 through December 31, 2016, the management fee payable to the General Partner shall be $124,500 annually, no portion of which shall be deferred. The annual management fee for 2017 and 2018 shall be $62,000 and $31,000 respectively. For 2019 and thereafter, the annual management fee shall be $15,000. Formatted: Font: Times New Roman, 8 pt Formatted: Tab stops: 3", Centered + 6", Right + Not at 0.73" Management Fee but excluding the Profits Interest, shall be treated as a guaranteed payment under The annual management fee (other than the deferred portion, if any, mentioned above) shall be due and payable in 12 equal monthly installments on the first day of each month. The Partnership shall pay the General Partner the Deferred Management Fee as soon as practicable after it has paid the expenses referred to in Section 6.3, and repaid the Net Cumulative Capital Contributions referred to in Section 6.4, below. In addition to the foregoing, the Partnership shall issue the General Partner a carried interest (the “Profits Interest”), with rights to a portion of Excess Cash as provided in Section 6.4 below. The management fee, including the Deferred Section 707(c) of the Code for tax purposes and deducted by the Partnership in determining Partnership net income. The Profits Interest shall be treated for tax purposes as a partnership interest, with rights to allocations of income and gains, and distributions, which shall not be deducted by the Partnership in determining Partnership net income. The Partnership and each Partner agree that the Profits Interest issued to the General Partner shall be treated as a tax-free “profits interest” within the meaning of Rev. Proc. 93-27, 1993-2 C.B. 343.
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Related to General Partner's Fees and Carried Interest

  • Partnership Working 7.1 Partnerships will be supported by local authorities on four levels between:

  • General Partner (a) The business, property and affairs of the Partnership shall be managed under the sole, absolute and exclusive direction of the General Partner, which may from time to time delegate authority to officers or to others to act on behalf of the Partnership.

  • Business Partners Red Hat has entered into agreements with other organizations (“Business Partners”) to promote, market and support certain Software and Services. When Client purchases Software and Services through a Business Partner, Red Hat confirms that it is responsible for providing the Software and Services to Client under the terms of this Agreement. Red Hat is not responsible for (a) the actions of Business Partners, (b) any additional obligations Business Partners have to Client, or (c) any products or services that Business Partners supply to Client under any separate agreements between a Business Partner and Client.

  • Additional Partners (a) Effective on the first day of any month (or on such other date as shall be determined by the General Partner in its sole discretion), the General Partner shall have the right to admit one or more additional or substitute persons into the Partnership as Limited Partners or Special Partners. Each such person shall make the representations and certifications with respect to itself set forth in Section 3.6 and Section 3.7. The General Partner shall determine and negotiate with the additional Partner (which term shall include, without limitation, any substitute Partner) all terms of such additional Partner’s participation in the Partnership, including the additional Partner’s initial GP-Related Capital Contribution, Capital Commitment-Related Capital Contribution, GP-Related Profit Sharing Percentage and Capital Commitment Profit Sharing Percentage. Each additional Partner shall have such voting rights as may be determined by the General Partner from time to time unless, upon the admission to the Partnership of any Special Partner, the General Partner shall designate that such Special Partner shall not have such voting rights (any such Special Partner being called a “Nonvoting Special Partner”). Any additional Partner shall, as a condition to becoming a Partner, agree to become a party to, and be bound by the terms and conditions of, the Trust Agreement. If Blackstone or another or subsequent holder of an Investor Note approved by the General Partner for purposes of this Section 6.1(a) shall foreclose upon a Limited Partner’s Investor Note issued to finance such Limited Partner’s purchase of his or her Capital Commitment Interests, Blackstone or such other or subsequent holder shall succeed to such Limited Partner’s Capital Commitment Interests and shall be deemed to have become a Limited Partner to such extent. Any additional Partner may have a GP-Related Partner Interest or a Capital Commitment Partner Interest, without having the other such interest.

  • Contributions for OTPP Plan Members i. When an employee/plan member is on short term sick leave and receiving less than 100% of regular salary, the Board will continue to deduct and remit OTPP contributions based on 100% of the employee/plan member’s regular pay.

  • New Members No person may be admitted as a member of the Company without the approval of the Member.

  • Partners If the Partnership declines to purchase said ownership interest under said notice period, each Partner shall jointly and severally be given a first right of refusal within days’ notice to purchase the ownership interest under the same terms and conditions agreed upon by the potential buyer. If more than one (1) Partner agrees to purchase, they shall be obligated to share the terms of the purchase equally.

  • Partnership The Partnership shall be given days’ notice to purchase the ownership interest under the same terms agreed upon by the potential buyer.

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