Non-Economic Unit definition

Non-Economic Unit means a Partnership Unit representing a Partnership Interest that is not entitled to distributions or allocations, including upon voluntary or involuntary liquidation, dissolution or winding up.
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Examples of Non-Economic Unit in a sentence

  • Except as otherwise provided in this Article 6, Net Income and Net Loss of the Partnership (and each item thereof) for each Partnership Year shall be allocated to each of the Partners holding the same class of Partnership Interests in accordance with their respective Percentage Interest of such class; provided, however, that notwithstanding the foregoing, no Net Income or Net Loss of the Partnership (and no item thereof) shall be allocated to any Partner in respect of a Non-Economic Unit.

Related to Non-Economic Unit

  • OP Unit Economic Balance has the meaning set forth in Section 6.03(c) hereof.

  • Special Economic Zone means each Special Economic Zone notified under the proviso to sub-section (4) of section 3 and sub-section (1) of section 4 (including Free Trade and Warehousing Zone) and includes an existing Special Economic Zone;

  • Net Economic Return shall have the meaning ascribed to such term in paragraph 2 of Exhibit E to the Lease.

  • Common Unit Economic Balance means (i) the Capital Account balance of the General Partner, plus the amount of the General Partner’s share of any Partner Minimum Gain or Partnership Minimum Gain, in either case to the extent attributable to the General Partner’s ownership of Partnership Common Units and computed on a hypothetical basis after taking into account all allocations through the date on which any allocation is made under Section 6.2.D hereof, divided by (ii) the number of the General Partner’s Partnership Common Units.

  • exclusive economic zone ’ means the zone established by Presidential Proclamation Numbered 5030, dated March 10, 1983, including the ocean waters of the areas referred to as ‘‘eastern special areas’’ in Article 3(1) of the Agreement between the United States of America and the Union of Soviet Socialist Re- publics on the Maritime Boundary, signed June 1, 1990;