Ineligible Holder definition

Ineligible Holder is defined in Section 4.8(c).

Ineligible Holder means a Limited Partner who is not a Citizenship Eligible Holder or a Rate Eligible Holder.

Ineligible Holder has the meaning assigned such term in Section 4.9(c).

Examples of Ineligible Holder in a sentence

• The rights and obligations of a Person who is an Ineligible Holder shall be determined in accordance with Section 4.9.

• Such payment and assignment shall be treated for Partnership purposes as a purchase by the Partnership from the Ineligible Holder of its Limited Partner Interest (representing the right to receive its share of such distribution in kind).

• In addition, the General Partner shall be substituted for any Limited Partner that is an Ineligible Holder as the Limited Partner in respect of the Ineligible Holder’s Limited Partner Interests.

• The rights and obligations of a Person who is an Ineligible Holder shall be determined in accordance with Section 4.8.

• Upon receipt of notice of such a transfer, the General Partner shall withdraw the notice of redemption, provided the transferee of such Limited Partner Interest certifies to the satisfaction of the General Partner that such transferee is not an Ineligible Holder.

More Definitions of Ineligible Holder

Ineligible Holder means a Limited Partner who is not an Eligible Taxable Holder or whose nationality, citizenship or other related status the General Partner determines, upon receipt of an Eligibility Certificate or other requested information, has created or would create under any federal, state or local law or regulation to which a Group Member is subject, a substantial risk of cancellation or forfeiture of any property in which a Group Member has an interest.

Ineligible Holder means a holder of Subordinated Debt Securities that is prohibited or restricted by any applicable law or regulation in force in:

Ineligible Holder means a Limited Partner who is not a Citizenship Eligible Holder or a Rate Eligible Holder. “Initial Common Units” means the Common Units sold in the Initial Public Offering.

Ineligible Holder means a Limited Partner who is not an Eligible Taxable Holder or whose nationality, citizenship or other related status the General Partner determines, upon receipt of an Eligibility Certificate or other requested information, has created or would create under any federal, state or local law or regulation to which a Group Member is subject, a substantial risk of cancellation or forfeiture of any property in which a Group Member has an interest. Notwithstanding the foregoing, the Partnership and the General Partner acknowledge that none of the Series A Preferred Unitholders shall be considered an Ineligible Holder.

Ineligible Holder means a Person whose, or whose beneficial owners, U.S. federal income tax status (or lack of proof of the U.S. federal income tax status) has or is reasonably likely to have, as determined by the General Partner, a material adverse effect on the rates that can be charged to customers by any Group Member with respect to assets that are subject to regulation by the Federal Energy Regulatory Commission or similar regulatory body.

Ineligible Holder means a Person whom the General Partner has determined is not an Eligible Holder.

Ineligible Holder means each Holder who is not an Eligible Holder;