Examples of GE Partners in a sentence
Upon receipt of the IPO Notice, the GE Partners or Penske Partners, as applicable, will have the option to simultaneously seek a purchaser of the Partnership Interests and Member Interests held by the Exercising Partner.
Subject to Subsection 10.1(a), commencing one year from the date of receipt of the IPO Notice by the General Partner, the GE Partners and PTLC shall meet to discuss restructuring the Partnership in order to effect an IPO with the most favorable tax treatment possible and each of the General Partner, the GE Partners and PTLC shall use reasonable best efforts to devise and effect such restructuring.
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Effective as of the Effective Time, (i) MBK USA CV has acquired an additional ten percent (10%) limited Partnership Interest previously held by the Withdrawing GE Partners and is succeeding to the Capital Account of the Partnership Interest(s) being transferred to it and (ii) PAG has acquired an additional five and a half percent (5.5%) limited Partnership Interest previously held by the Withdrawing GE Partners and is succeeding to the Capital Account of the Partnership Interest(s) being transferred to it.
Any allocation required under Code Section 755 as a result of a Code Section 754 election shall be made by the General Partner acting in good faith; provided, that any such allocation relating to or with respect to the Partnership Interests transferred by the Withdrawing GE Partners to MBK USA CV and PAG shall be approved by MBK USA CV and PAG, such approval not to be unreasonably withheld or delayed.
PTLC shall give prompt written notice to the GE Partners of the occurrence of any of the events specified in clauses (i)(A), (i)(B) or (ii) of this Subsection 9.4(a).
Additionally, the Partnership shall provide such other information as may be requested in good faith by the GE Partners or their Affiliates to establish or confirm ongoing compliance with their applicable financial regulatory requirements, including any such requirements that may be applicable to the Partnership itself or any other entity in the Partnership Group by reason of its relationship with any Partner.
The costs and expenses of any such independent investment banking or valuation firm shall be borne equally by the GE Partners and the PTLC Beneficiary (except with respect to any exercise by the PTLC Beneficiary, the GE Partners or any nominee of an election pursuant to Subsection 9.4(c)) and, solely in the case of an election pursuant to Subsection 9.4(c), the PTLC Beneficiary and/or the GE Partners, as applicable, and the Mitsui Partners.
The Partnership is a Delaware limited partnership, the sole partners of which are the GE Partners, which collectively have a 60% Partnership Interest consisting solely of limited partner interests in the Partnership (the “GE Interest”), and the Penske Partners (other than PAG), which collectively have a 40% Partnership Interest consisting of a general partner interest and limited partner interests in the Partnership.
The costs and expenses of any such independent third investment banking or valuation firm shall be borne equally by the GE Partners and PTLC.