KKR Group Partnership definition
Examples of KKR Group Partnership in a sentence
Subject to the terms and conditions set forth herein and in the Operating Agreements and the Plan, (i) KKR Group Partnership hereby grants to Holdings II the number of Class P Units set forth in the RHU Grant Certificate, (ii) Holdings II hereby grants to the Grantee the number of Holdings II Units set forth in the RHU Grant Certificate and (iii) the Corporation hereby grants to the Grantee the number of SERs set forth in the RHU Grant Certificate.
Any Distribution paid by KKR Group Partnership to Holdings II with respect to Class A Units held by Holdings II shall be allocated and payable by Holdings II to the Grantee of the Restricted Units corresponding to such Class A Units as provided in the Operating Agreements (subject to Section 2.1(e)).
KKR Associates Americas XII L.P. is the general partner of KKR Americas Fund XII L.P. KKR Americas XII Limited is the general partner of KKR Associates Americas XII L.P. KKR Group Partnership L.P. is the sole member of KKR Americas XII Limited.
Each KKR Group Partnership has an identical number of partner interests and, when held together, one Class A partner interest in each of the KKR Group Partnerships together represents one KKR Group Partnership Unit.
On a date to be mutually agreed between the Parties following the consummation of the final exchange of Class A units in KKR Group Partnership L.P. (the “Class A Units”) that occurs prior to the Closing Time (the “Final Exchange”), KKR Holdings L.P., KKR & Co. Inc.
On August 5, 2014, KKR International Holdings L.P. became a KKR Group Partnership.
Following the Final Exchange, immediately prior to the Closing Time, KKR & Co. Inc., KKR Group Partnership L.P. and KKR Holdings L.P. and/or an affiliate shall consummate a recapitalization (the “Recapitalization” which will be a Reorganization Step) pursuant to which 8,500,000 new Class A Units (as adjusted for any stock splits or combinations occurring after the date hereof, the “Class A Recapitalization Units”) shall be issued to KKR Holdings L.P. in the Recapitalization.
In the event that other of our current or future subsidiaries become taxable as corporations and acquire KKR Group Partnership Units in the future, or if we become taxable as a corporation for U.S. federal income tax purposes, we expect that each will become subject to a tax receivable agreement with substantially similar terms.
As a result, our second half operating margins will fall short of our expectations.
Tax Receivable Agreement We and certain intermediate holding companies that are taxable corporations for U.S. federal, state and local income tax purposes, may be required to acquire KKR Group Partnership Units from time to time pursuant to our exchange agreement with KKR Holdings.