General Partnership Unit definition

General Partnership Unit means a fractional part of the General Partnership Interests, which is designated as a General Partnership Unit, and having the rights and obligations specified in this Agreement.
Sample 1
General Partnership Unit shall represent an interest in the Partnership entitling the General Partner to the respective voting and other rights and Profit and Loss as provided for in this Agreement.
Sample 1
General Partnership Unit shall have the meaning assigned to such term in the Newco Partnership Agreement.
Sample 1

Examples of General Partnership Unit in a sentence

  • Each General Partnership Unit shall represent an interest in the capital of the Partnership and shall be identical in all respects to every other General Partnership Unit.

  • On August 14, 2020, for estate planning purposes, a trust transferred 225 shares of Class A Common Stock and 814,347 shares of Class B Common Stock to Teebank in consideration for one (1) Teebank General Partnership Unit and a number of Teebank Limited Partnership Units equal in value to the aggregate value of the shares of Class A Common Stock and Class B Common Stock that Teebank received (less the value of the General Partnership Unit).

  • I will need a summary from UDOGM (Utah Division of Oil, Gas and Mining), UGS, BLM or others about how the industry has changed in the last 10 years.


More Definitions of General Partnership Unit

General Partnership Unit means a fractional part of a General Partnership Interest as described in Section 3.01. "Indemnified Person" has the meaning specified in Section 5.07.
Sample 1
General Partnership Unit means a single unit of Partnership Interest issued to the General Partner pursuant to Article 4 hereof, as the same may be amended from time to time as provided in this Agreement.
Sample 1

Related to General Partnership Unit

  • Partnership Unit means a fractional, undivided share of the Partnership Interests of all Partners issued hereunder. The allocation of Partnership Units among the Partners shall be as set forth on Exhibit A, as may be amended from time to time.

  • General Partner Unit means a fractional part of the General Partner Interest having the rights and obligations specified with respect to the General Partner Interest. A General Partner Unit is not a Unit.

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • General Partner Units has the meaning assigned to such term in the Partnership Agreement.

  • Limited Partnership Interest means the ownership interest of a Limited Partner in the Partnership at any particular time, including the right of such Limited Partner to any and all benefits to which such Limited Partner may be entitled as provided in this Agreement and in the Act, together with the obligations of such Limited Partner to comply with all the provisions of this Agreement and of such Act.

  • General Partner Interest means a Partnership Interest held by the General Partner, in its capacity as general partner. A General Partner Interest may be expressed as a number of Partnership Units.

  • Partnership Unit Designation shall have the meaning set forth in Section 4.2.A hereof.

  • GP Unit means a Partnership Unit which is designated as a GP Unit of the Partnership.

  • General partnership means an organization formed by two or more persons under chapters 45-13 through 45-21.

  • Limited Partner Interest means a Partnership Interest of a Limited Partner in the Partnership representing a fractional part of the Partnership Interests of all Limited Partners and includes any and all benefits to which the holder of such a Partnership Interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement. A Limited Partner Interest may be expressed as a number of Partnership Common Units, Partnership Preferred Units or other Partnership Units.

  • Membership Unit means a Membership Common Unit, a Company Preferred Unit, a Company Junior Unit or any other fractional share of the Membership Interests that the Managing Member has authorized pursuant to Section 4.1 or Section 4.2 hereof.

  • General Partner means the Company or its successors as general partner of the Partnership.

  • Partnership Interest means an interest in the Partnership, which shall include the General Partner Interest and Limited Partner Interests.

  • Class B Limited Partner means any Person executing (by power of attorney or otherwise) this Agreement as of the date hereof as a Class B Limited Partner or hereafter admitted to the Partnership as a Class B Limited Partner as herein provided, but shall not include any Person who has ceased to be a Class B Limited Partner in the Partnership.

  • Special Limited Partner Interest means the interest of the Special Limited Partner in the Partnership representing its right as the holder of an interest in distributions described in Sections 5.1(b)(iii)(A), (c), (d) and (e) (and any corresponding allocations of income, gain, loss and deduction under this Agreement).

  • Substituted Limited Partner means a Person who is admitted as a Limited Partner to the Partnership pursuant to Section 11.4.

  • Common Unitholder means a Member who is the registered holder of Common Units.

  • OP Unit means a Partnership Unit which is designated as an OP Unit of the Partnership.

  • Deemed Partnership Interest Value means, as of any date with respect to any class of Partnership Interests, the Deemed Value of the Partnership Interests of such class multiplied by the applicable Partner's Percentage Interest of such class.

  • Initial Limited Partner has the meaning set forth in the Preamble.

  • Membership Units means the limited liability company interests in the Company held by the Members, expressed as a number of units held by each Member and set forth opposite such Member's name on Schedule I attached hereto, as amended, modified or supplemented from time to time.

  • LP Units means the non-voting limited partnership units in the capital of BEP, other than the Preferred Units, including any LP Units issued pursuant to the Redemption-Exchange Mechanism.

  • OP means open pit and “UG” means underground.

  • General Partner Loan has the meaning provided in Section 5.2(c) hereof.

  • Investor Limited Partner means any Limited Partner so designated at the time of its admission as a partner of the Partnership.