Common LP Interests definition
Examples of Common LP Interests in a sentence
The General Partner may be removed or replaced only with the written consent of Limited Partners holding a majority of the Common LP Interests and Preferred LP Interests.
Nonrecourse Deductions for any Fiscal Year will be allocated to the holders of the Common LP Interests and the holders of the Preferred LP Interests, each as a class, in proportion to how all prior Depreciation that did not constitute Nonrecourse Deductions was allocated to each class pursuant to Section 5.3(h), and the portion so allocated to the Common LP Interests will be allocated Pro Rata and the portion so allocated to the Preferred LP Interests will be allocated Pro Rata.
The Interests of the Partnership consist of the GP Interest, which is a noneconomic general partner interest, 1,316,075,805 Preferred LP Interests and the Common LP Interests, each having the rights, powers, preferences and designations set forth in this Agreement.
Nonrecourse Deductions for any Fiscal Year will be allocated [ ]% to the holders of the Common LP Interests, Pro Rata, and [ ]% to the holders of the Preferred LP Interests, Pro Rata.
The Borrower or the WCP Borrowers (as appropriate) will pay interest accrued on each Advance to the Agent for the account of the Lenders in arrears on the last day of each Interest Period applicable to that Advance, provided that where such Interest Period is of a duration of longer than three months, accrued interest in respect of the relevant Advance shall be paid every three months during such Interest Period and on the last day of such Interest Period.
As of the Effective Date, (i) CP Holding holds the GP Interest and all of the Preferred LP Interests and (ii) Dominion Gas Projects and DCPI hold all of the Common LP Interests.
Nonrecourse Deductions for any Fiscal Year will be allocated [—]% to the holders of the Common LP Interests, Pro Rata, and [—]% to the holders of the Preferred LP Interests, Pro Rata.
As of the Effective Date and after giving effect to the transfers set forth in the Contribution Agreement, (i) CP Holding holds the GP Interest and all of the Preferred LP Interests and (ii) Dominion Gas Projects holds all of the Common LP Interests.
Commences Commercial Service, the Partnership shall not make a distribution to the holders of Common LP Interests until the Partnership has established a distribution reserve sufficient to pay the Preferred Return for two Fiscal Quarters.
Nonrecourse Deductions for any Fiscal Year will be allocated []% to the holders of the Common LP Interests, Pro Rata, and []% to the holders of the Preferred LP Interests, Pro Rata.