Associate General Partner definition
Examples of Associate General Partner in a sentence
DLJ Merchant Banking III, Inc., as Advisory General Partner on behalf of DLJ Offshore Partners III-2, C.V. and as attorney-in-fact for DLJ Merchant Banking III, L.P., as Associate General Partner of DLJ Offshore Partners III-2, C.V.
DLJ Merchant Banking III, Inc., as Advisory General Partner on behalf of DLJ Offshore Partners III-1, C.V. and as attorney-in-fact for DLJ Merchant Banking III, L.P., as Associate General Partner of DLJ Offshore Partners III-1, C.V.
The General Partner, the Initial Limited Partner and the Associate General Partner are hereby authorized to form the Partnership by filing the Certificate as soon as practicable after the date hereof in the office of the Delaware Secretary of State.
As used herein, a “majority in interest” shall refer to Partners (excluding the General Partner and the Associate General Partner) who hold more than fifty percent (50%) of the outstanding Percentage Interests not held by the General Partner and the Associate General Partner.
This section 5.1(a) is not applicable to the Associate General Partner.
The General Partner shall arrange for the preparation and timely filing of all returns of Partnership income, gains, deductions, losses and other items required of the Partnership for federal and state income tax purposes and shall use all reasonable efforts to furnish, within ninety (90) days of the close of each taxable year, the tax information reasonably required by the Associate General Partner and the Limited Partners for federal and state income tax reporting purposes.
The General Partner and the Partnership shall not have liability to the Associate General Partner or any Limited Partner for monetary damages or otherwise for losses sustained, liabilities incurred or benefits not delivered by the Associate General Partner or such Limited Partner in connection with such decisions, provided that the General Partner has acted in good faith pursuant to its authority under this Agreement.
The Associate General Partner shall provide the General Partner with evidence of payment of Offering Expenses as such expenses are incurred.
In consideration thereof, the Partnership will issue, concurrently herewith, Associate Partnership Units to the Associate General Partner.
Distributions to the Associate General Partner should be made exclusively pursuant to Section 5.1(b).