Class B Common Limited Partner definition

Class B Common Limited Partner means any Person holding Class B Common Units, and named as a Class B Common Limited Partner in Exhibit A attached hereto, as such exhibit may be amended from time to time, any Substituted Limited Partner or Additional Limited Partner, in such Person's capacity as a Class B Common Limited Partner in the Partnership.
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Class B Common Limited Partner means, as of the Effective Date, each Person contributing a Drever Interest to the Partnership in exchange for a Class B Common Unit pursuant to the Transaction or any other Person admitted pursuant to this Agreement as a Class B Common Limited Partner either in connection with the issuance of a newly-created Class B Common Unit or as a substitute with respect to any transferred Class B Common Unit, each for only so long as such Person remains as a Class B Common Limited Partner in accordance with this Agreement and the Act.
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Class B Common Limited Partner means any Limited Partner executing this Agreement as a Class B Common Limited Partner or hereafter admitted to the Partnership as a Class B Common Limited Partner as provided in this Agreement, but does not include any Person who has ceased to be a Limited Partner. The Class B Common Limited Partners, as of the date hereof, are listed on Exhibit A hereto.
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Examples of Class B Common Limited Partner in a sentence

  • Additionally, a Class B Common Limited Partner shall not have any voting rights.

  • Each Class B Common Limited Partner further agrees that, in the event any state or local property transfer tax is payable as a result of the transfer of its Tendered Units to the Partnership or AMB (or their designee), such Class B Common Limited Partner shall assume and pay such transfer tax.

  • To the extent any attempted Class B Redemption or exchange for REIT Shares would be in violation of this Section 23.4.E, it shall be null and void ab initio and such Class B Common Limited Partner shall not acquire any rights or economic interest in the cash otherwise payable upon such redemption or the REIT Shares otherwise issuable upon such exchange.

  • Each Class B Common Limited Partner covenants and agrees with the Partnership that all Tendered Units shall be delivered to the Partnership, in the case of a redemption for a Cash Amount, or AMB, in the case of an exchange for a REIT Share Amount, free and clear of all liens, claims and encumbrances whatsoever and should any such liens, claims and/or encumbrances exist or arise with respect to such Tendered Units, the Partnership or AMB, as the case may be, shall be under no obligation to acquire the same.

  • Any Preferred Limited Partner or Class B Common Limited Partner shall have the right to substitute a transferee permitted by this Agreement as a Limited Partner in his or her place.

  • In general, a Class B Common Limited Partner may not participate in partnership profits, losses or gains, or participate in distributions from operations or receive tax distributions; however, a participant may participate in liquidating distributions.

  • Any Class B Redemption shall be exercised pursuant to a Notice of Redemption delivered to the Partnership by the Class B Common Limited Partner who is exercising the right (the "Tendering Partner").

  • Any Class B Redemption shall be exercised pursuant to a Notice of Redemption delivered to the Partnership by the Class B Common Limited Partner who is exercising the right (the “Tendering Partner”).

  • In addition to any information required by Law, such notice shall state: (i) the Call Date; (ii) the Call Price; and (iii) whether all or less than all of the Class B Common Limited Partner Interests held by such Limited Partner are to be redeemed and, if less than all of the Class B Common Limited Partner Interests held by such Person are to be redeemed, the percentage of such Limited Partner’s Class B Common Limited Partner Interests that are to be redeemed.

  • If the Partners cannot agree upon the new conversion terms, then the new conversion terms shall be set by the affirmative vote of Partners holding Partnership Interests representing a majority of the Capital Contributions made by the Partners to the Partnership and the Class A Common Limited Partner Interests and Class B Common Limited Partner Interests shall become convertible into senior subordinated units of the MLP upon such terms.


More Definitions of Class B Common Limited Partner

Class B Common Limited Partner. QSV or any other Person admitted pursuant to this Agreement as a Class B Common Limited Partner either in connection with the issuance of a newly-created Class B Common Unit or as a substitute with respect to any transferred Class B Common Unit, each for only so long as such Person remains as a Class B Common Limited Partner in accordance with this Agreement and the Act.
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Related to Class B Common Limited Partner

  • Class B Limited Partner means any Person executing (by power of attorney or otherwise) this Agreement as of the date hereof as a Class B Limited Partner or hereafter admitted to the Partnership as a Class B Limited Partner as herein provided, but shall not include any Person who has ceased to be a Class B Limited Partner in the Partnership.

  • Class B Common Unit means one of that certain class of Common Units with those special rights and obligations specified in this Agreement as being appurtenant to a “Class B Common Unit”.

  • Class B Common Units has the meaning set forth in Section 1(a) hereof.

  • Class A Common Unit means a Common Unit having the rights and obligations specified with respect to Class A Common Units in this Agreement.

  • Investor Limited Partner means any Limited Partner so designated at the time of its admission as a partner of the Partnership.

  • Class A Common Units means a Common Unit which is designated as a “Class A Common Unit” and which has the rights, preferences and other privileges designated in Annex A hereto and elsewhere in this Agreement in respect of holders of Common Units.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Class A Common means the Company's Class A Common Stock, par value $.01 per share.

  • Special Limited Partner Interest means the interest of the Special Limited Partner in the Partnership representing its right as the holder of an interest in distributions described in Sections 5.1(b)(iii)(A), (c), (d) and (e) (and any corresponding allocations of income, gain, loss and deduction under this Agreement).

  • Special Limited Partner means WNC Housing, L.P., a California limited partnership, and such other Persons as are admitted to the Partnership as additional or substitute Special Limited Partners pursuant to this Agreement.

  • Class C Member means a Member holding the Class C Ordinary Share.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Class B Units means the Class B Units of the Company.

  • Class B Common Shares means the Class B Convertible Voting Common Shares of the Company, par value $1.00 per share.

  • Class B Unit means a Partnership Unit which is designated as a Class B Unit of the Partnership.

  • Limited Partner Interest means a Partnership Interest of a Limited Partner in the Partnership representing a fractional part of the Partnership Interests of all Limited Partners and includes any and all benefits to which the holder of such a Partnership Interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement. A Limited Partner Interest may be expressed as a number of Partnership Common Units, Partnership Preferred Units or other Partnership Units.

  • Class B Common Stock means the Class B common stock, par value $0.0001 per share, of the Company.

  • Initial Limited Partner has the meaning set forth in the Preamble.

  • Foreign limited partnership means a partnership formed under laws other than of this state and having as partners one or more general partners and one or more limited partners.

  • Partnership Unit Economic Balance means (i) the Capital Account balance of the General Partner plus the amount of the General Partner’s share of any Partner Minimum Gain or Partnership Minimum Gain, in each case to the extent attributable to the General Partner’s Partnership Units divided by (ii) the number of the General Partner’s Partnership Units.

  • Initial Limited Partners means the Organizational Limited Partner (with respect to the Common Units and Subordinated Units received by it pursuant to Section 5.2), the General Partner (with respect to the Incentive Distribution Rights) and the Underwriters, in each case upon being admitted to the Partnership in accordance with Section 10.1.

  • Defaulting Limited Partner means a Limited Partner that has failed to pay any amount owed to the Partnership under a Partnership Loan within 15 days after demand for payment thereof is made by the Partnership.

  • Class C Percentage Interest As of any date of determination, with respect to the Class C Certificates, a percentage interest equal to a fraction, the numerator of which is the Class Principal Balance of the Class C Certificates on such date, and the denominator of which is the Class Principal Balance of the Class C Regular Interest on such date.

  • Foreign limited liability limited partnership means a foreign limited partnership whose general partners have limited liability for the obligations of the foreign limited partnership under a provision similar to section 488.404, subsection 3.

  • Limited Partnership Interest means the ownership interest of a Limited Partner in the Partnership at any particular time, including the right of such Limited Partner to any and all benefits to which such Limited Partner may be entitled as provided in this Agreement and in the Act, together with the obligations of such Limited Partner to comply with all the provisions of this Agreement and of the Act.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.