Delinquent Partner definition

Delinquent Partner is defined in Section 4.5(a).

Delinquent Partner has the meaning set forth in Section 4.5(a).

Delinquent Partner has the meaning given it in Section 6.1(b)(iii);

Examples of Delinquent Partner in a sentence

• If the delinquency is remedied (i) by the Delinquent Partner making its Required Contribution or Make-Up Contribution pursuant to this Section 4.5(c) or (ii) by funding by the non-Delinquent Partner(s) as a Capital Contribution pursuant to Section 4.5(b), the Delinquent Partner shall no longer be deemed to be a Delinquent Partner with respect to the unfunded Required Contribution.

• Until the contributing Partner is fully repaid for such loan made as a result of the default by the Delinquent Partner and only if the contributing Partner agrees to accept repayment of such amount, the contributing Partner shall be entitled to all distributions to which the Delinquent Partner would have been entitled had such Commitment been fulfilled thereby.

• If the delinquency is remedied by the Delinquent Partner making its Required Contribution or Make-Up Contribution as required above, the Delinquent Partner shall no longer be deemed to be in default with respect to the unfunded Required Contribution.

• Each Partner grants to the Partnership, and to the Lending Partner with respect to any loans made by the Lending Partner to a Delinquent Partner, as security, equally and ratably for the payment of all Additional Capital Contributions that Partner has agreed to make and the payment of all loans and interest accrued made by the Lending Partner to that Partner, a security interest in such Partner's ownership interest in the Partnership under the Uniform Commercial Code of the State of Texas.

• If a Partner fails to contribute any Additional Contributed Equity required pursuant to Section 3.4 (a "Delinquent Partner") by the Contribution Date, any other Partner (other than an Affiliate of the Delinquent Partner) which is not a Delinquent Partner (a "Contributing Partner") may, but shall not be required, to contribute the portion of such Additional Contributed Equity that the Delinquent Partner failed to contribute (the "Delinquent Contribution").

More Definitions of Delinquent Partner

Delinquent Partner means a Partner who has failed to pay any installment of its Remaining Contribution when due, and such delinquency has not been cured.

Delinquent Partner. As defined in Section 3.2(c). Designee: An Affiliate of an Offeree designated by the Offeree to purchase an Interest.

Delinquent Partner. As defined in Section 3.2(c). ------------------ Designee: An Affiliate of an Offeree designated by the Offeree to -------- purchase an Interest. Disinterested Partner: is a Partner or Partners who are not benefitted --------------------- by, and none of whose Partner Associates is benefitted by, the terms of the Related Advertising Agreement in question or the actions in question which may affect a Related Advertising Agreement or a Partner or Partner Associate. Effective Date: [INSERT THE CLOSING DATE OF THE TRANSACTIONS -------------- CONTEMPLATED BY THE FORMATION AGREEMENT].

Delinquent Partner means any Partner that: (i) has failed to make a Capital Contribution required by Section 4.1 or 4.2; (ii) has failed to make a Capital Contribution specified in a Sale Notice after delivering written notice of its election to accept the offer contained in such Sale Notice, pursuant to Section 4.9; (iii) has failed to make a loan pursuant to a Participation Rights Notice after delivering written notice of its election to accept the offer contained in such Participation Rights Notice, pursuant to Section 6.12; or (iv) is otherwise in uncured, material default of its obligations under this Agreement, including, but not limited to, those contained in Section 6.4, Section 6.9, Article X and Section 15.13.

Delinquent Partner has the meaning set forth in Section 3.4(d) of this Agreement.

Delinquent Partner shall have the meaning set forth in Section 3.04 hereof.

Delinquent Partner has the meaning assigned to such term in Section 8.1(d). "DISCRETIONARY CAPITAL EXPENDITURES" means any expenditure related to the Partnership Business that is classified under GAAP as a capital expenditure and (i) is not a Mandatory Capital Expenditure, or (ii) if classified as a Mandatory Capital Expenditure, is associated or is in conjunction with, or is the result of, a prior or current Discretionary Capital Expenditure, in which case the portion of such Mandatory Capital Expenditure that is allocable to such prior or current Discretionary Capital Expenditure shall be classified as a Discretionary Capital Expenditure. "DISPOSE, DISPOSING OR DISPOSITION" means, with respect to Partnership Interest or any portion thereof, a sale, assignment, transfer, conveyance, gift, exchange or other disposition of such asset, whether such disposition be voluntary, involuntary or by operation of law, including but not limited to the following: (a) in the case of a Partnership Interest owned by an entity, a Change of Partner Control and (b) a disposition in connection with, or in lieu of, a foreclosure of an Encumbrance; but such terms shall not include the creation of an Encumbrance.