Controlled Partnership definition

Controlled Partnership means a general partnership of which any Borrower or Subsidiary is a general partner, or a limited partnership whose sole general partner is a Borrower and with respect to which partnership such Borrower or Subsidiary is entitled to receive not less than 50% of the distributions of cash made to the partners thereof, other than any preferred cash distribution arrangement approved by Lender in writing.

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Controlled Partnership means a general partnership of which the Borrower or a Subsidiary is a general partner (but not including Alabama World Football), or a limited partnership whose general partners include the Borrower or a Subsidiary (but not including Vanderbilt), or a limited liability company whose members include the Borrower or a Subsidiary or another Controlled Partnership, which partnership, whether general or limited, or limited liability company has assets with a value in excess of $2,000.00, and with respect to which partnership or limited liability company the Borrower or a Subsidiary is entitled to receive not less than 50% of any distributions of cash made to the partners or members thereof, other than any preferred cash distribution arrangement in existence at the Closing Date or approved by the Required Lenders in writing, or which is otherwise a Consolidated Entity.

Controlled Partnership means a limited partnership in which and so long as the Named Insured owns or controls, directly or indirectly, more than 50% of the limited partnership interest and in which a Company is the sole general partner.

Examples of Controlled Partnership in a sentence

Notwithstanding anything to the contrary contained in the Stockholders Agreement, so long as there are 800,000 Callable Shares (such number to be adjusted for any share exchange or conversion, stock dividend or stock split) outstanding, then the Rollover Stockholders shall be entitled to nominate at least one director to the board of directors of the Company or its successor Holdco, as the case may be, and the applicable Controlled Partnership shall vote its shares of Common Stock to elect such nominee.
Solely for purposes of the definition of “qualified group,” if members of the qualified group own interests in a partnership meeting requirements equivalent to the “control” requirements of Section 368(c) (a “368(c) Controlled Partnership”), any stock owned by such 368(c) Controlled Partnership will be treated as owned by members of the qualified group.
The preceding sentence shall not apply if each member of the Section 385 Expanded Group that includes such Noteholder or beneficial owner (or with respect to which such Noteholder or beneficial owner is a Section 385 Controlled Partnership or disregarded entity) is a member of the same consolidated group (as described in Treasury Regulation section 1.1502-1(h)) that files a consolidated U.S. federal income tax return.
Solely for purposes of determining whether a lower-tier partnership is a 368(c) Controlled Partnership, any interest in a lower-tier partnership owned by a Section 368(c) Controlled Partnership will be treated as owned by members of the qualified group.
No transfer of a Certificate (or interest therein) shall be permitted if (i) it results in the Issuer becoming a disregarded as an entity separate for U.S. federal income tax purposes from a Domestic Corporation and (ii) either (x) a member of an expanded group that includes such Domestic Corporation owns any Notes or (y) a Section 385 Controlled Partnership of such expanded group owns any Notes.

More Definitions of Controlled Partnership

Controlled Partnership means a limited partnership in which and so long as the Named Entity owns or controls, directly or indirectly, more than 50% of the limited partnership interest and an Insured Entity is the sole general partner.

Controlled Partnership. With respect to any “subsidiary” which is a joint venture, limited liability company or “Controlled Partnership”, loss occurring as a result of “theft” by “employee(s)” shall apply only if such loss results directly from “theft” by “employee(s)” of the “Insured”. Loss occurring as a result of “theft” by “employee(s)” of other joint venture, limited liability company or limited partnership participants is not covered under INSURING AGREEMENT 1. – EMPLOYEE THEFT of this Policy.

Controlled Partnership. “Securityholders” shall mean the Certificateholders and the Noteholders. “STAMP” shall have the meaning assigned to such term in Section 3.4(d). “Statutory Trust Act” shall mean Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code Section 3801 et seq. as the same may be amended from time to time. “Targeted Holder” shall mean each holder of (i) a right to receive interest or principal with respect to the Retained Notes, (ii) any interest in the Trust with respect to which an Opinion of Counsel has not been rendered that such interest will be treated as debt for federal income tax purposes, and (iii) a right to receive any amount in respect of the Trust Certificate; provided, however, that any Person holding more than one right or interest each of which would cause such Person to be a Targeted Holder shall be treated as a single Targeted Holder. “Trust” shall mean the trust established by this Agreement. 4 “Trust Certificate” means a Certificate evidencing the beneficial interest of a Certificateholder in the Trust, substantially in the form of Exhibit A attached hereto.

Controlled Partnership means a limited partnership in which and so long as the “Named Insured” owns or controls, directly or indirectly, more than 50% of the limited partnership interest and is the sole general partner.

Controlled Partnership means a general partnership of which the Borrower or a Subsidiary is a general partner (but not including Alabama World Football), or a limited partnership whose general partners include the Borrower or a Subsidiary (but not including Vanderbilt), which partnership, whether general or limited, has assets with a value in excess of $2,000.00, and with respect to which partnership the Borrower or a Subsidiary is entitled to receive not less than 50% of any distributions of cash made to the partners thereof, other than any preferred cash distribution arrangement approved by the Required Lenders in writing. Convert, Conversion and Converted shall refer to a conversion pursuant to Section 3.2 hereof of one Type of Syndicated Loan into another Type of Syndicated Loan, which may be accompanied by the transfer by a Lender (at its sole discretion) of a Loan from one Applicable Lending Office to another.

Controlled Partnership. (as defined in Treasury Regulations Section 1.385- 1(c)(1) or any successor regulation then in effect) of such expanded group, or (D) a person that is disregarded as a separate entity for U.S. federal income tax purposes and is owned directly or indirectly by a person described in the preceding clauses (B) or (C); (vii) such issuance is accomplished in a manner that allows the Independent accountants of the Issuer to accurately provide the tax information relating to original issue discount required to be provided to the holders of Secured Notes (including the additional Notes that constitute Secured Notes); (viii) the S&P Rating Condition and the Fitch Rating Condition are satisfied; (ix) the Retention Holder commits to acquire such additional Subordinated Notes as may be required to satisfy the Risk Retention Rules following the additional issuance; (x) except in connection with a Risk Retention Issuance, no Event of Default shall have occurred and be continuing; and (xi) an officer’s certificate of the Issuer is delivered to the Trustee stating that the foregoing conditions (i) through (x) have been satisfied.

Controlled Partnership means a general partnership of which the Borrower or a Subsidiary is a general partner, or a limited partnership whose general partners include the Borrower or a Subsidiary (but not including Vanderbilt), or a limited liability company whose members include the Borrower or a Subsidiary or another Controlled Partnership, which partnership, whether general or limited, or limited liability company has assets with a value in excess of $2,000.00, and with respect to which partnership or limited liability company the Borrower or a Subsidiary is entitled to receive not less than 50% of any distributions of cash made to the partners or members thereof, other than any preferred cash distribution arrangement in existence at the Closing Date as set forth on Schedule 1.1(a) hereto, or approved by the Required Lenders in writing, or which is otherwise a Consolidated Entity.