Class B Partnership Interest definition

Class B Partnership Interest means an interest in the Partnership represented by a partner's Capital Account relating to all assets of the Partnership other than those assets listed on Exhibit A-1 attached hereto and made apart hereof, (i.e., excluding the Capital Account relating to the Class A Properties), and the right to receive his percentage share of the income, gain, loss, deduction, cash and other distributions and liquidation proceeds of the Partnership (other than those associated with Class A Partnership Interests), all subject to and interpreted in accordance with the terms of this Agreement.
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Class B Partnership Interest means an interest in the Partnership represented by a partner's Capital Account relating to all assets of the Partnership other than those assets listed on Exhibit A-1 attached hereto and made apart hereof, (i.e., excluding the Capital Account relating to the Class A
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Examples of Class B Partnership Interest in a sentence

  • Each Partner will also be assigned either or both a Class A and Class B Partnership Interest depending on the assets contributed by each Partner and as they shall mutually agree at the time of contribution.

  • Each Parties will also be assigned either or both as Class A and Class B Partnership Interest depending on the assets contributed by each Partner and as they shall mutually agree at the time of contribution.

  • A pledge agreement and UCC financing statement, in substantially the form attached hereto as Exhibit O, and any other document or instrument reasonably necessary to effect a pledge (the "Series B Pledge") by the Company of the Lake Elsinore Project Class B Partnership Interest as collateral for the Second Horizon Group Financing in accordance with the requirements of the Loan Documents.

  • Thereafter, with respect to the Lake Elsinore Project, all income and expense shall be allocated to the Lake Elsinore Project Class B Partnership Interest in accordance with the Amended and Restated Partnership Agreement.

  • From the date hereof until the Closing Date, Horizon/▇▇▇▇ shall comply and shall cause Second Horizon Partnership to comply with all applicable requirements of the Second Horizon Group Financing, including but not limited to, requirements relating to the execution and delivery of the Amended and Restated Partnership Agreement, the assignment of the Lake Elsinore Project Class B Partnership Interest to the Company and the pledge of such interest in accordance with the Series B Pledge.

  • Each Limited Partner shall have one vote for each Class B Partnership Interest held by such Limited Partner.

  • Each Class B Limited Partner shall have one vote for each Class B Partnership Interest held by such Class B Limited Partner.

  • Any transfer of the Class B Partner’s Class B Partnership Interest to any Person that is not an Affiliate of the Class B Partner shall automatically and without any further actions convert such Class B Partnership Interest into a Class A Partnership Interest.

  • Any transfer of the Class B Partner's Class B Partnership Interest to any Person that is not an Affiliate of the Class B Partner shall automatically and without any further actions convert such Class B Partnership Interest into a Class A Partnership Interest.

Related to Class B Partnership Interest

  • 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.

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Partnership Interest means an ownership interest in the Partnership representing a Capital Contribution by either a Limited Partner or the General Partner or the provision of services to or for the benefit of the Partnership by an existing Partner acting in a partner capacity, or by a new Partner acting in a partner capacity or in anticipation of becoming a Partner, 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 Partnership Interest may be expressed as a number of Partnership 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.

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