General Partnership Interest. The OP Units held by the General Partner shall be deemed to be the General Partner Interest.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Shelbourne Properties Iii Inc), Limited Partnership Agreement (Shelbourne Properties Ii Inc), Limited Partnership Agreement (Shelbourne Properties I Inc)
General Partnership Interest. The General Partnership Interest shall be the OP Units held by the General Partner shall be deemed Partner. The General Partner, in its sole and absolute discretion, may deem a number of its OP Units to be the General Partnership Interest and may deem the remainder of its OP Units to be Limited Partnership Interests that shall be held by the General Partner Interestin the capacity of a Limited Partner in the Partnership.
Appears in 2 contracts
Samples: Limited Partnership Agreement, Limited Partnership Agreement (Clipper Realty Inc.)
