LP Act definition

LP Act means the Limited Partnerships Act (Ontario) as the same may be amended from time to time;
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LP Act means the Delaware Revised Uniform Limited Partnership Act, as it may be amended from time to time, and any successor to such statute.
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LP Act means the Delaware Revised Uniform Limited Partnership Act, as amended from time to time; provided, however, that if any amendment to the LP Act, or any succeeding or successor law, is applicable to the Partnership only if the Partnership has elected to be governed by the LP Act as so amended or by such succeeding or successor law, as the case may be, the term "LP Act" shall refer to the LP Act as so amended or to such succeeding or successor law only after the appropriate election by the Board with the Consent of the Partners.
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Examples of LP Act in a sentence

  • Subject to the provisions of the LP Act and of such similar legislation in Canada and elsewhere as is applicable to the Partnership, the liability of the Limited Partner for the debts, liabilities and obligations of the Partnership will be limited to its Capital Contribution Balance and solely to the extent required by applicable law, the amount of any Capital Distributions received by it.

  • Nevertheless, a combination of provisions in the LP Act lead ineluctably to that conclusion.

  • Section 1732 of the original LP Act stated:Limited partners’ derivative action brought in the right of a limited partnership to procure a judgment in its favor.

  • Instead, Section 17-303 of the LP Act states that limited partners only can maintain their limited liability if they refrain from participating in the management of the partnership.

  • When the General Assembly passed the LLC Act in 1992, it adopted the established derivative standing provisions from the LP Act.


More Definitions of LP Act

LP Act means Limited Partnerships Act (Ontario);
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LP Act shall have the meaning set forth in Section 4.1.35(e) hereof.
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LP Act means the Limited Partnerships Act 2008.
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LP Act means the Texas Revised Limited Partnership Act, as amended from time to time; provided, however, that if any amendment to the LP Act, or any succeeding or successor law, is applicable to the Partnership only if the Partnership has elected to be governed by the LP Act as so amended or by such succeeding or successor law, as the case may be, the term "LP Act" shall refer to the LP Act as so amended or to such succeeding or successor law only after the appropriate election by the Board with the Consent of the Partners.
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LP Act is defined in the First Recital.
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LP Act shall have the meaning set forth in the Recitals.
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LP Act means the Limited Partnerships Xxx 0000. ‘Markets Service’ means any Transaction, communication or instruction between the Customer and the Bank, where the Bank is acting through its Markets division, including the dealing room and Markets Operations.
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