Managing Partners definition

Managing Partners means Geodyne Production Company, a Delaware corporation, and PW Production, Inc., a Delaware corporation, and any other Person admitted as additional or Substituted Managing Partner pursuant to Article Six of this Agreement.

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Managing Partners management authority with respect to significant Production Partnership actions shall be exercised by the Management Committee, including without limitation such actions as: (i) the acquisition of a Producing Property or an option to purchase a Producing Property, provided that Geodyne Production shall have the authority to acquire Producing Properties and options to acquire Producing Properties without the approval of the Management Committee, provided further that (a) Geodyne Production does not expend an aggregate amount of Production Partnership funds with respect to the acquisition of Producing Properties whose aggregate acquisition price, together with the anticipated aggregate acquisition price of Producing Properties subject to such purchase options, is in excess of 20% of the Limited Partnership's Capital Contribution, and (b) no single acquisition of Producing Properties by Geodyne Production pursuant to this proviso shall exceed 10% of the Limited Partners' capital contributions to the Limited Partnership; (ii) the incurrence of indebtedness; (iii) the determination of the amount of and the distribution of Distributable Cash to the Partners; (iv) the engaging in and making decisions with respect to any Development Drilling, Identified Development Drilling and Improved Recovery operations; (v) the sale or other transfer of any Producing Property that constitutes a significant portion of the assets of the Production Partnership; and (vi) the determination not to extend the term of the Production Partnership as set forth in Section 2.4 of this Agreement. The Management Committee shall have the power to delegate its management authority with respect to any "significant" action to a Managing Partner at such times and under such conditions as it may decide in its own discretion. The Managing Partners' management authority respecting all other actions which are in the ordinary course of the Production Partnership's operations may be exercised by either Managing Partner without the concurrence of the other Managing Partner, provided that the Managing Partner exercising such management authority shall, upon inquiry by the other Managing Partner, notify the inquiring Managing Partner of the nature of such actions undertaken without the concurrence of the inquiring Managing Partner. The Management Committee shall have the authority (i) to determine that the "significant" actions specified herein shall no longer be "significant" actions for the purposes of ...

Examples of Managing Partners in a sentence

• In the event of cessation of duties of all the Company Managing Partners, irrespective of the reason therefor, resulting in a Managing Partner vacancy, the general partners shall manage the Company pending the appointment of one or more new Managing Partners under the terms and conditions laid down herein.

• The Subadviser will promptly notify MassMutual of any changes in its Managing Partners or in the key personnel who are either the portfolio manager(s) responsible for the Portfolio or the Subadviser’s Chief Executive Officer or President, or if there is otherwise an actual or expected change in control or management of the Subadviser.

• The cessation of duties of one or more Managing Partner(s), irrespective of the reason therefor, shall not result in the Company being wound-up.

• The Managing Partner(s) must take all due care in handling the business of the Company.

• Managing Partners may be dismissed at any time on grounds of incapacity (whether as a result of insolvency proceedings or otherwise) or for any other cause, by the unanimous decision of the General Partners, after the Supervisory Board has expressed its opinion under the conditions provided for in article 14 below.

More Definitions of Managing Partners

Managing Partners means (a) with respect to AMC, American Movie Classics Holding Corporation, a New York corporation, and (b) with respect to IFC, IFC Holding Corporation, a Delaware corporation.

Managing Partners means Messrs. Leon Black, Joshua Harris and Marc Rowan. “Notes” has the meaning specified in Section 1.1(4).

Managing Partners has the meaning set forth in Section 6.10(j).

Managing Partners means Messrs. Leon Black, Joshua Harris and Marc Rowan.

Managing Partners means the Sun Managing Partner and the Original Partners Managing Partners.

Managing Partners in the management of the internal affairs of the Production Partnership as prescribed in this Agreement or by law, or both, the Production Partnership shall indemnify the Managing Partners against expenses, including attorneys' fees, actually and reasonably incurred by them in connection with the defense or settlement of such action or suit if they acted in good faith and in a manner they reasonably believed to be in the best interests of the Production Partnership as specified in this subsection, except that no indemnification shall be made in respect of any claim, issue or matter as to which the Managing Partners' course of conduct constituted negligence or misconduct.

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