Existing Limited Partners definition
Examples of Existing Limited Partners in a sentence
The Existing Limited Partners have contributed in the aggregate to the capital of the Partnership an amount equal to $12,350,741 as of June 30, 1996.
The minimum initial subscription amount for Class A Units for Existing Limited Partners is $15,000, except for Existing Limited Partners that are employee benefit plans or individual retirement accounts, for which the minimum initial subscription amount is $5,000.
Section 5.1 Contributions by the General Partner and the Existing Limited Partners.
Both the number of additional Class B Units issued as of the date hereof to each of the undersigned designated as an Existing Limited Partner, and the total number of Class B Units heretofore and hereby issued to each of the undersigned designated as an Existing Limited Partner, is shown opposite such Existing Limited Partner's signature below.
The General Partner, in its capacity as the holder of the Incentive Distribution Rights, and the Existing Limited Partners, with respect to their Common Units and Subordinated Units, will continue as Limited Partners in respect of those Partnership Interests.
Attached hereto as Exhibit "A" is a chart reflecting the transfer of the Partnership Units to the Substitute Limited Partners and to the Existing Limited Partners and the allocated Agreed Value of the Hotel contributed in consideration for the original issuance of the Partnership Units.
The Escrow Agreement shall provide that the entire Earn▇▇▇ ▇▇▇ey Deposit shall be delivered to the Existing Limited Partners in such event.
The provisions of Subsection 4.4 and 4.5 shall, with respect to each exercise of the Drag-Along Right by the Existing Limited Partners, apply with the same effect as if references therein to Tag-Along Right were references to the Drag-Along Right.
The Partners hereby (i) admit TCI and the Managing General Partner as limited partners of the Partnership, (ii) acknowledge and consent to the Conversion and Trust Purchase, (iii) acknowledge and consent to the withdrawal from the Partnership of the Existing Limited Partners immediately thereafter, and (iv) continue a limited partnership (the "Partnership") pursuant to the California Revised Limited Partnership Act (the "Act").
If AERC is in default under this Agreement and neither the Existing Limited Partners nor the Existing General Partners are in material default, the sole and exclusive remedy of the Existing Limited Partners and the Existing General Partners shall be to terminate this Agreement by notice given to AERC and in such event AERC shall be liable to the Existing Limited Partners for liquidated damages in the amount of the Earn▇▇▇ ▇▇▇ey Deposit.