Inactive Partner definition

Inactive Partner shall have the meaning set forth in Section 8.3.
Inactive Partner means a Partner whose Day-to-Day Responsibilities have ceased or been terminated by the General Partner.
Inactive Partner means a Partner without active status, as described in Section 8.02;

Examples of Inactive Partner in a sentence

  • The Inactive Partner shall remain liable for his share of any losses of the Partnership or contributions to the Partnership as provided herein, and shall be entitled to receive his share of Taxable Income, Tax Losses, and Net Income.

  • Should the other Partners exercise their option to purchase the Inactive Partner’s Interest, they shall notify the Inactive Partner or his Representative of their intention to do so within this six-month period.

  • In the case of a Limited Partner who is a natural person, such Limited Partner may not be removed as a Limited Partner or be reclassified as an Inactive Partner, except as set forth in this Agreement or in such Limited Partner’s Carry Agreement.

  • Except as otherwise determined by the General Partner, an Individual Partner shall be deemed to have requested to Voluntarily Withdraw upon such Individual Partner becoming an Inactive Partner.

  • PUBLIC PRESENTATIONS: Pamela Wach, Interested Citizen, provided background information on Abilities United, a group for developmentally disabled youth, and a brief introduction of the members who were present to speak.

  • If an Inactive Partner wishes to become Active again, he or she must contact PartnerServices, pay any applicable renewal fee, and place a product order either him/herself or through a retail customer.

  • True interdependency means they depend on one another to perform their function.Real interdependency between telecommunication and power is starting to happen with the concept of Smart Power Grid.

  • If an Inactive Partner wishes to become Active again, he or she must contact Partner Services, pay any applicable renewal fee, and place a product order either him/herself or through a retail customer.

  • Following a designation of a Partner as an Inactive Partner pursuant to Section 8.2 and any adjustments to such Inactive Partner’s Carry Percentage pursuant to such Partner’s Carry Agreement, the General Partner shall, without the consent of any Limited Partner, reallocate any reduction in the Carry Percentage of such Inactive Partner to such Limited Partners as the General Partner may determine in its sole discretion.

  • Following a designation of a Partner as an Inactive Partner and any adjustments to such Inactive Partner’s Carry Percentage pursuant to such Partner’s Carry Agreement, the General Partner shall, without the consent of any Limited Partner, reallocate any reduction in the Carry Percentage of such Inactive Partner to such Partners (including itself) as the General Partner may determine.


More Definitions of Inactive Partner

Inactive Partner has the meaning set forth in SECTION 9.2.

Related to Inactive Partner

  • Inactive member means a member of the pension program or the individual account pro-

  • Inactive Participant means each Participant (other than a Retired Participant, Deceased Participant or Disabled Participant) who is not in active service as an Outside Director and is not actively employed by a Participating Company.

  • Active member means a member of the pension program or the individual account program

  • Inactive Employee means an employee who is not actively at work due to approved leave of absence, short-term disability leave or military leave.

  • Former Partner means (i) with respect to a Partner that is a trust, a Partner that has ceased to be a Qualified Trust, and has become a Former Partner, pursuant to the terms of Section 1.78; (ii) with respect to a Partner that is an Entity, a Partner that has ceased to be a Qualified Entity, and has become a Former Partner, pursuant to the terms of Section 1.18; (iii) a Partner that has become a Bankrupt Partner and a Former Partner, pursuant to the terms of Section 1.7; (iv) a Partner that has become a Pledgor Partner and a Former Partner, pursuant to the terms of Section 1.74; and (v) a Partner that ceases to be a Participating Stockholder with respect to the Class B Shares of each Company in which the Partnership owns Class B Shares.

  • Active Participant means, with respect to any day or date, a Participant who is in Service on such day or date; provided, that a Participant shall cease to be an Active Participant (i) immediately upon a determination by the Committee that the Participant has ceased to be an Employee or Independent Contractor, or (ii) at the end of the Plan Year that the Committee determines the Participant no longer meets the eligibility requirements of the Plan.

  • Lead Partner means the lead partner of a joint venture, as described in Sub-Clause

  • Deferred member means a person who elected to receive deferred vested retirement

  • Excluded Employee means an employee as defined in section 3527, subd. (b) of the Government Code (Ralph C. Dills Act) except those excluded employees who are designated managerial pursuant to section 18801.1 of the Government Code.

  • Inactive or "inactivation" means action by the Division to place a license on inactive status in accordance with Sections 58-1-305 and R156-1-305.

  • Inactive Account means a trader’s Account which had Client-Initiated activity and subsequently it remained inactive for a period of 90 days.

  • Designated Employer Representative (DER) means a designated school district representative authorized to take immediate action to remove employees from safety-sensitive duties, to make required decisions in the testing and evaluation process, and to receive test results and other communications for the school district.

  • Employee Member means a member of the “Bargaining Unit”.

  • Spouse or partner means a person (including same sex partners) who lives with the principal policy holder in a marital or de facto relationship.

  • Honorary Life Member means a Member who has been elected as such by the Board;

  • Participating Employer means any trade or business (whether or not incorporated) which adopts this Plan with the consent of the Company identified in the Adoption Agreement.

  • Term Employee means an employee hired for a specific term of employment. The term of employment may be based on a specific period of time or the completion of a specific job or until the occurrence of a specified event.

  • Independent Member of the board means a member of the board who has no business, family or other relationship that raises a conflict of interests regarding the CCP concerned or its controlling shareholders, its management or its clearing members, and who has had no such relationship during the five years preceding his membership of the board;

  • Retired member means any former member receiving a retirement allowance or any former member who has filed the necessary documents for retirement benefits and is no longer contributing to the retirement system;

  • Designated Employee means an employee who has been designated by the school to receive complaints of hazing, harassment and bullying pursuant to subdivision 16 V.S.A. 570a(a)(7). The designated employees for each school building are identified in Appendix A of this policy.

  • Designated member means the spouse, child, grandchild, parent, brother, or sister of a deceased individual who owned an interest in a wholesaler, who is entitled to inherit the deceased individual's ownership interest in the wholesaler under the terms of the deceased individual's will, or who has otherwise been designated in writing by the deceased individual to succeed the deceased individual in the wholesaler's business, or is entitled to inherit such ownership interest under the laws of intestate succession of this state. With respect to an incapacitated individual owning an ownership interest in a wholesaler, the term means the person appointed by a court as the conservator of such individual's property. The term also includes the appointed and qualified personal representative and the testamentary trustee of a deceased individual owning an ownership interest in a wholesaler.

  • Participating employee means an employee whose election to participate in a Plan has been approved by the employer.

  • Full Member means any person who is in one of the categories of membership referred to in Rule 10.3.

  • Life Member means an Individual appointed as a Life Member of the Club under clause 5.2.

  • Managing Employee means a general manager, business manager, administrator, director, or other individual who exercises operational or managerial control over, or who directly or indirectly conducts the day-to-day operation of an institution, organization, or agency.

  • Individual Member means a registered, financial Member of the Club who is at least 18 years of age.