General Partner Affiliate definition
Examples of General Partner Affiliate in a sentence
No Limited Partner may Transfer its Units to any Person (other than in accordance with Section 10.6) unless the Units of its General Partner Affiliate and its Limited Partner Affiliate or Affiliates (if any) are simultaneously transferred to such Person or a Wholly Owned Affiliate of such Person.
No Limited Partner may Transfer its Units to any Person (other than in accordance with Section 10.6) unless the Units of its General Partner Affiliate, if any, and its Limited Partner Affiliate or Affiliates (if any) are simultaneously transferred to such Person or a Wholly Owned Affiliate of such Person.
Any such amounts shall be repaid to the General Partners or any General Partner Affiliate before any distributions may be made pursuant to Article 9.
Any act or omission of any General Partner, Affiliate, stockholder, director, officer, manager, member, employee or agent of the General Partner pursuant to such advice shall in no event subject the Person to liability to the Fund or any Limited Partner.
A General Partner may transfer any or all of its Partnership Interests to an Affiliate of the General Partner ("Affiliate Successor") without such approval; provided however, that in the case of GTL, GTL may transfer only to an Affiliate that is 100% owned by GTL and any such transfer shall be subject to the consent of the Managing General Partner, which consent may be granted or withheld in the Managing General Partner's sole discretion.
The General Partner shall not receive, in connection with the performance of any services by the General Partner or any General Partner Affiliate, any kickbacks, rebates, or give-ups.
Such indemnification, however, shall only apply to Losses incurred by virtue of the Indemnitee's status as General Partner, Affiliate or officer, director, partner, stockholder, employee or agent thereof, and not as to Losses incurred in other capacities (for example, by virtue of otherwise contracting with the Partnership).
No General Partner may resign as General Partner without the prior written consent of a majority in interest of the Limited Partners unless a General Partner Affiliate agrees in writing to all the Partners to act as General Partner.
Any loan made by the General Partner or any General Partner Affiliate to the Partnership shall be unsecured and shall bear interest at a rate no higher than the applicable federal rate, as defined in IRC § 1274(d), for mid-term obligations, payable quarterly, as published by the Internal Revenue Service for the month during which the funds are advanced to the Partnership.
Conversely, should a volunteer firefighter’s permanent residence be relocated outside of their current district, he may be required by the Employer to transfer to another fire station, at the discretion of the Fire Chief or his designate.