Initial LP Interest definition

Initial LP Interest has the meaning set forth in the Recitals of this Agreement.
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Initial LP Interest has the meaning assigned to such term in the recitals.
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Initial LP Interest is defined in the Recitals.
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Examples of Initial LP Interest in a sentence

  • The Initial LP Interest held by Diamondback shall be redeemed for $100.00.

  • The Partnership hereby accepts the Initial LP Interest, as a recapitalization of NRGY’s interest in the Partnership.

  • The Partnership hereby redeems (i) the Initial LP Interest in the Partnership held by NRGY and (ii) the Initial GP Interest in the Partnership held by the General Partner.

  • The Partnership shall at the Effective Time transfer by wire to the account of MLP Holdco an amount of cash equal to the Distribution Amount and thereby redeem the Initial LP Interest.

  • The Partnership hereby redeems the Initial LP Interest held by Tesoro and hereby refunds and distributes to Tesoro the initial contribution, in the amount of $980, made by Tesoro in connection with the formation of the Partnership, along with any interest or other profit that resulted from the investment or other use of such initial contribution.

  • The Partnership shall redeem the Initial LP Interest held by MLP HoldCo and refund and distribute to MLP HoldCo the initial contribution, in the amount of $1,000 made by MLP HoldCo in connection with the formation of the Partnership, along with any interest or other profit that resulted from the investment or other use of such initial contribution.

  • The Partnership hereby redeems the Initial LP Interest held by MPLX Logistics Holdings LLC and hereby refunds and distributes to MPLX Logistics Holdings LLC the initial contribution, in the amount of $980.00, made by MPLX Logistics Holdings LLC in connection with the formation of the Partnership, along with any interest or other profit that resulted from the investment or other use of such initial contribution.

  • The Partnership hereby redeems the Initial LP Interest held by PennTex Development and hereby refunds and distributes to PennTex Development the initial contribution, in the amount of $2,000, made by PennTex Development in connection with the formation of the Partnership, along with 100% of any interest or other profit that resulted from the investment or other use of such initial contribution.

  • The Partnership hereby redeems the Initial LP Interest held by CONE Gathering and hereby refunds and distributes to CONE Gathering the initial contribution, in the amount of $6,860, made by CONE Gathering in connection with the formation of the Partnership, along with any interest or other profit that resulted from the investment or other use of such initial contribution.

  • The Partnership hereby redeems the Initial LP Interest held by VTDC and hereby refunds and distributes to VTDC the initial contribution, in the amount of $980, made by VTDC in connection with the formation of the Partnership, along with any interest or other profit that resulted from the investment or other use of such initial contribution.


More Definitions of Initial LP Interest

Initial LP Interest is defined in Schedule D.
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Initial LP Interest means the 100% limited partner interest in the Partnership owned by GPM pursuant to the Original Agreement.
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Initial LP Interest has the meaning set forth in the Recitals of this Agreement. “MLP” has the meaning set forth in the introductory paragraph of this Agreement. “MLP GP” has the meaning set forth in the introductory paragraph of this Agreement. “Offering” has the meaning set forth in the Recitals of this Agreement.
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Related to Initial LP Interest

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

  • Class B Membership Interest means a Class B Membership Interest in Holdings.

  • 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 the 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.

  • Class A Membership Interest means a Class A Membership Interest in Holdings.

  • 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).

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

  • GP Interest means: (i) with respect to any limited partnership, a unit of general partnership interest in such partnership; and (ii) with respect to a McNeil Partnership, the units of general partnership interest held by the general partner of such McNeil Partnership and all of the rights in respect thereof, including not only the general partner's proportionate interest of the profits and losses of that McNeil Partnership based on the general partner's capital contribution but also the rights and other assets (if any) corresponding to such McNeil Partnership which are being contributed to the applicable New GP LLC at the direction of the Company in accordance with Article II hereof.

  • Member Interest means an equity interest of a Member in the Company and includes any and all benefits to which such Member is entitled as provided in this Agreement, together with all obligations of such Member pursuant to the terms and provisions of this Agreement.

  • 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.

  • 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.

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Transferred Interest means, at any time of determination, an undivided percentage ownership interest in (i) each and every then outstanding Receivable, (ii) all Related Security with respect to each such Receivable, (iii) all Collections with respect thereto, and (iv) other Proceeds of the foregoing, which undivided ownership interest shall be equal to the Aggregate Percentage Factor at such time, and only at such time (without regard to prior calculations). The Transferred Interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, shall at all times be equal to the Transferred Interest in each other Receivable, together with Related Security, Collections and Proceeds with respect thereto. To the extent that the Transferred Interest shall decrease as a result of a recalculation of the Aggregate Percentage Factor, the Administrative Agent on behalf of the applicable Class Investors shall be considered to have reconveyed to the Transferor an undivided percentage ownership interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, in an amount equal to such decrease such that in each case the Transferred Interest in each Receivable shall be equal to the Transferred Interest in each other Receivable.

  • Membership Interest means a Member’s entire interest in the Company including such Member’s right to receive allocations and distributions pursuant to this Agreement and the right to participate in the management of the business and affairs of the Company in accordance with this Agreement, including the right to vote on, consent to, or otherwise participate in any decision or action of or by the Members granted pursuant to this Agreement.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Derivative Partnership Interests means any options, rights, warrants, appreciation rights, tracking, profit and phantom interests and other derivative securities relating to, convertible into or exchangeable for Partnership Interests.

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

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

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • 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.

  • Contributed Interests has the meaning set forth in the recitals to this Agreement.

  • Class B Interest Each of the Class B-1 and Class B-2 Interests.

  • LLC Interest means a membership interest or similar interest in a limited liability company.

  • Company Interest means the interest of a Member in Profits, Losses and Distributions.

  • Transferred Interests has the meaning set forth in the Recitals.