Examples of Defaulting Limited Partner in a sentence
Without limitation, the General Partner shall have the right to receive any distributions that otherwise would be made by the Partnership to the Defaulting Limited Partner until such time as the General Partner Loan has been paid in full, and any such distributions so received by the General Partner shall be treated as having been received by the Defaulting Limited Partner and immediately paid to the General Partner.
In such event, on the date of payment, the General Partner shall be deemed to have extended a loan (a “General Partner Loan”) to the Defaulting Limited Partner in the amount of the payment made by the General Partner and shall succeed to all rights and remedies of the Partnership against the Defaulting Limited Partner as to that amount.
In the event that a Limited Partner (a “Defaulting Limited Partner”) fails to pay any amount owed to the Partnership with respect to the Partnership Loan within fifteen (15) days after demand for payment thereof is made by the Partnership on the Limited Partner, the General Partner, in its sole and absolute discretion, may elect to make the payment to the Partnership on behalf of such Defaulting Limited Partner.
The contractor shall supply the City of Tacoma with a Certificate of Origin and a signed application for title for the State of Washington no later than 30 days from the date of the final payment for the vehicle.
The cost for ETS to provide services related to these components over the four-year period is approximately $280 million.Pearson provided a stronger response for the last three components of the RFP (STAAR Alternate, TELPAS and TAKS).