Common Partnership Interest definition

Common Partnership Interest means an ownership interest in the Partnership, other than a Preferred Partnership Interest, and includes any and all benefits to which the holder of such an ownership interest may be entitled as provided in this Agreement or the Act, together with all obligations of such Person to comply with the terms and provisions of this Agreement and the Act.
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Common Partnership Interest means an ownership interest in the Partnership, other than a Preferred Partnership Interest, and includes any and all benefits to which the holder of such an ownership interest may be entitled as provided in this Agreement or the Act, together with all obligations of such person to comply with the terms and provisions of this Agreement and the Act. The Common Partnership Interests as of the date of this Agreement include Common Units, LTIP Units, and AO LTIP Units held by any Partner.
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Examples of Common Partnership Interest in a sentence

  • The specific rights and obligations of Warrant Holdings to participate in the sale of its Common Partnership Interest under this Section 9.7 are governed by the terms and provisions of the Transfer Rights Agreement.

  • Such additional Capital Contributions may, at the option of each Partner holding a Common Partnership Interest, be made within thirty (30) days after receipt of written request from the Board of Directors and shall be contributed by the Partners electing to contribute in proportion to their respective Common Partnership Interests.

  • The right and/or obligation (if any) of Warrant Holdings to participate in the sale of its Common Partnership Interest under this Section 9.5 is governed by the terms and provisions of the Transfer Rights Agreement.

  • In addition, any Minimum Tax Distributions for a current Fiscal Year shall be reduced by any other distributions made to a Partner with respect to its Common Partnership Interest but shall not be reduced for distributions, if any, made with respect to a Partner's Preferred Partnership Interest.

  • Pursuant to this Section 5.2, a ------------------------- distribution for the payment of federal, state and local Income Taxes for a Partner (a "Minimum Tax Distribution") for each applicable period shall be made to a Partner holding a Common Partnership Interest in an amount equal to the U.S. Taxes Due for such Partner, less Cumulative Minimum Tax Distributions.

  • Warrant Holdings does not have the right ---------------- under the terms of this Agreement or under the terms of the Transfer Rights Agreement to initiate the sale, assignment, or other transfer of all or a portion of its Common Partnership Interest or to purchase all or any portion of a Partnership Interest.

  • In addition, any Minimum Tax Distributions for a current Fiscal Year shall be reduced by any other distributions made to a Partner with respect to its Common Partnership Interest but shall not be reduced for distributions, if any, made with respect to a Partner’s Preferred Partnership Interest.

  • Such distribution will be paid to the holders of record at the close of business on the date specified by the General Partner at the time such distribution is declared, which shall be on or prior to the payment date for the applicable distribution on a unit of Common Partnership Interest.

  • To the extent not otherwise paid in cash, repayment as a result of an event described in the preceding sentence shall be made by cancelling first a Partner's Preferred Partnership Interest to the extent of any unpaid accrued Preferred Return and any Unrecovered Capital and then cancelling a Partner's Common Partnership Interest to the extent of any Unrecovered Capital.

  • The Xxxxxxxxx Partner may at ---------------------------- any time before the fifth anniversary date of the Effective Date of the Partnership (the "Conversion Date") elect to convert its Preferred Partnership Interest to a Common Partnership Interest representing a 2 percent Common Sharing Percentage as of the Effective Date of the Partnership (the "Xxxxxxxxx Conversion").

Related to Common Partnership Interest

  • Partnership Interest means an ownership interest in the Partnership held by either a Limited Partner or the General 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.

  • General Partner Interest means the ownership interest of the General Partner in the Partnership (in its capacity as a general partner) and includes any and all benefits to which the General Partner is entitled as provided in this Agreement, together with all obligations of the General Partner to comply with the terms and provisions of this Agreement.

  • Limited Partner Interest means a Partnership Interest of a Limited Partner in the Partnership representing a fractional part of the Partnership Interests of all 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 Units (other than GP Units).

  • Partnership Unit means a fractional, undivided share of the Partnership Interests of all Partners issued hereunder. The allocation of Partnership Units among the Partners shall be as set forth on Exhibit A, as may be amended from time to time.