Defaulting Partner definition

Defaulting Partner shall have the meaning set forth in Section 9.1.

Defaulting Partner shall have the meaning set forth in Section 3.2.

Defaulting Partner has the meaning set forth in Section 6.10.

Examples of Defaulting Partner in a sentence

• Each such Defaulting Partner shall remain fully liable to the Partnership for its obligations hereunder, to the extent provided by law and subject to the limitations of this Agreement, as if such default had not occurred and shall be responsible for all expenses related to its default.

• The sole consideration to the Defaulting Partner for each portion of such Defaulting Partner’s Interest reallocated to a Non-Defaulting Partner shall be the assumption by such Non-Defaulting Partner of the Defaulting Partner’s obligation to make both defaulted and future Capital Contributions pursuant to its Commitment that are commensurate with the portion of the Defaulting Partner’s Interest being reallocated to such Non-Defaulting Partner.

• If such Partner fails to make such Capital Contribution or other payment within five (5) Business Days after receipt of such notice then such Partner shall be deemed a “Defaulting Partner” (the amount in respect of which a Defaulting Partner has defaulted being a “Defaulted Amount”) and the General Partner shall immediately notify UST and SIGTARP of such failure.

• Non-Defaulting Partner: Any Partner other than a Defaulting Partner.

• If any Partner fails to fund any Capital Contribution required hereunder, within the period set forth in the applicable Capital Call Notice, such Partner shall be considered a “Defaulting Partner.” A Partner that has become a Defaulting Partner shall not be entitled to any additional period in which to cure the default and pay its required Capital Contribution.

More Definitions of Defaulting Partner

Defaulting Partner. As defined in Section 10.8(b).

Defaulting Partner shall have the meaning set forth in Section 5(b)(iii).

Defaulting Partner has the meaning set forth in Section 4.2(c).

Defaulting Partner has the meaning set forth in Section 6.6.1. “Default Notice” has the meaning set forth in Section 6.6.1. “Designated Individual” has the meaning set forth in Section 15.3.3.

Defaulting Partner means a Limited Partner who is deemed to have committed a default under the Limited Partnership Agreement.

Defaulting Partner shall have the meaning assigned to such term in Section 3.6(d).

Defaulting Partner is the general partner or any limited partner of a Sanderling who has previously failed to comply with any portion of a capital call made by Sanderling unless (i) such failure has been cured, or (ii) Sanderling has substituted the Defaulting Partner with another partner, in accordance with the partnership agreement of Sanderling, who is in compliance with such partnership agreement.