Examples of Carry Agreement in a sentence
Each Partner’s Carry Percentage shall be subject to adjustment as provided in such Partner’s Carry Agreement.
Notwithstanding any other provision of this Agreement or any Carry Agreement, each Partner hereby authorizes the Partnership to withhold and to pay over, or otherwise pay, any withholding or other taxes payable by the Partnership or any of its Affiliates (pursuant to the Code or any provision of U.S. federal, state or local or non-U.S. tax law) with respect to such Partner or as a result of such Partner’s status as a partner hereunder.
The Joint Operating Agreement, the Operating Services Agreement and the Carry Agreement will not become effective at any time prior to the Pacific Farm-Out Completion Date.
In the case of a Limited Partner who is a natural person, such Limited Partner may not be removed as a Limited Partner or be reclassified as an Inactive Partner, except as set forth in this Agreement or in such Limited Partner’s Carry Agreement.
Each such Person shall be admitted as an Additional Partner at the time that such Person (a) executes a counterpart of this Agreement and a Carry Agreement and (b) is listed by the General Partner as a partner of the Partnership in the Register.
Following a designation of a Partner as an Inactive Partner and any adjustments to such Inactive Partner’s Carry Percentage pursuant to such Partner’s Carry Agreement, the General Partner shall, without the consent of any Limited Partner, reallocate any reduction in the Carry Percentage of such Inactive Partner to such Partners (including itself) as the General Partner may determine.
Except as provided in such Limited Partner’s Carry Agreement, no Limited Partner may Transfer in any manner whatsoever all or any part of such Limited Partner’s interest in the Partnership without the express prior written consent of the General Partner.
Neither party shall have any liability to the other party in the event of a breach, default, or termination of any Will Carry Agreement or Affiliation Agreement.
Except as provided in such Partner’s Carry Agreement, no Limited Partner may Transfer in any manner whatsoever all or any part of such Partner’s interest in the Partnership without the express prior written consent of the General Partner.
A Person shall be admitted as a Limited Partner at the time (a) this Agreement or a counterpart hereof, a Subscription Agreement or a Carry Agreement is executed by or on behalf of such Person and (b) such Person is listed by the General Partner as a Partner of the Partnership in the Register.