General Partnership Units definition

General Partnership Units means a Partnership Unit held by the General Partner that is a general partnership interest.
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General Partnership Units means a fractional, undivided share of the ownership interest in the Partnership issued hereunder to the General Partner in its capacity as the general partner of the Partnership.
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General Partnership Units means general partnership interests in the Partnership. “Guarantee Fee” shall have the meaning set forth in Section 7.3.
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Examples of General Partnership Units in a sentence

  • At the time of assignment, the removed General Partner shall be entitled to receive from the substitute General Partner the fair market value of the General Partnership Units of such removed General Partner as reduced by any damages caused to the Partnership by such General Partner.

  • In such case, the fair market value of the removed General Partner’s General Partnership Units shall be the average of the two appraisals closest in value.

  • The General Partner shall be paid the Net Asset Value per Unit of its General Partnership Units in the Partnership as of the date of such withdrawal.

  • The General Partner shall be paid the Net Asset Value per Unit of its General Partnership Units in the Partnership as of the date of such withdrawal or replacement.

  • When used in this Agreement without qualification, the term ‘Unit’ shall include both Limited Partnership Units and General Partnership Units, pari passu.

  • Without limiting the foregoing, none of the transactions referenced in the preceding sentence shall be deemed to be a voluntary withdrawal for the purposes of Paragraph K of Article X or a withdrawal or an assignment of General Partnership Units for purposes of Subparagraphs B(1) and B(3) of this Article.

  • Notwithstanding any provision in this Agreement to the contrary, the General Partner shall not have the right to transfer or redeem any General Partnership Units owned by it so long as it acts as the General Partner of the Partnership, except for Units of General Partnership Interest held by the General Partner and/or its Affiliates constituting more than a 1% interest in the Profits and Losses of the Partnership.

  • The affirmative vote of holders of a majority of the Limited Partnership Units and of holders of 100% of the General Partnership Units are the only votes of the holders of any class or series of partnership interests of the Partnership necessary under the terms of the Partnership Agreement and the Act to approve this Agreement and the transactions contemplated hereby.

  • A number of Partnership Units held by the General Partner equal to one percent (1%) of all outstanding Partnership Units shall be deemed to be the General Partnership Units and shall be the General Partnership Interest.

  • On the date hereof, the issued and outstanding limited partner interests of the Partnership consist of 32,165,528 Common Units, 3,391,982 Senior Subordinated Units, 345,364 Junior Subordinated Units, and 325,729 General Partner Units which General Partnership Units include 1,629 Units implied by Partnership GP’s ownership of Star/Petro Inc.