Notional General Partner Units means notional units used solely to calculate the General Partner’s Percentage Interest. Notional General Partner Units shall not constitute “Units” for any purpose of this Agreement. If the General Partner makes additional Capital Contributions pursuant to Section 5.2 to maintain its Percentage Interest, the number of Notional General Partner Units shall be increased proportionally to reflect the maintenance of such Percentage Interest.

Examples of Notional General Partner Units in a sentence

For that reason, the Fall River Trail will be built from concrete, which is the most durable and easy to maintain, as well as being bike-friendly and ADA-accessible.
Any Capital Contribution pursuant to this Section 5.2(b) shall be evidenced by the issuance to the General Partner of a proportionate number of additional Notional General Partner Units.
The General Partner owns 1,555,061 Notional General Partner Units (as defined in the Partnership Agreement), which constitutes all of the general partner interests of the Partnership, free and clear of any Liens other than transfer restrictions imposed thereon by applicable securities Laws.
As of the date of this Agreement, the issued and outstanding partnership interests of the Partnership consist of 78,923,118 Common Units, 69,076,122 Subordinated Units, 3,020,390 corresponding Notional General Partner Units, the Incentive Distribution Rights and any limited partnership interests issued to independent directors and officers of the General Partner pursuant to the Partnership’s long-term incentive plan.
The proportionate increase in the number of Notional General Partner Units in accordance with this Section 2.2 is the “Additional General Partner Interest”.

More Definitions of Notional General Partner Units

Notional General Partner Units has the meaning assigned to such term in the Partnership Agreement.

Notional General Partner Units means the Notional General Partner Units, as defined in the Partnership LPA;

Notional General Partner Units as defined in the AMID Partnership Agreement.

Notional General Partner Units means notional units used solely to calculate the General Partner’s Percentage Interest. Notional General Partner Units shall not constitute “Units” for any purpose of this Agreement. As of the Effective Date there are 1,554,525 Notional General Partner Units (resulting in the General Partner’s Percentage Interest being 1.76% as of such date). If a Pro Rata distribution or a subdivision or combination of Units is made in accordance with Section 5.9, the number of Notional General Partner Units shall be proportionally increased or decreased, as applicable, to reflect the maintenance of such Percentage Interest. “Omnibus Agreement” means that Amended and Restated Omnibus Agreement, dated as of December 19, 2006, among Teekay Corporation, the General Partner, the Partnership, the Operating Company, Teekay Offshore GP, L.L.C., Altera Infrastructure L.P. (formerly known as Teekay Offshore Partners L.P.), and Teekay Offshore Operating L.P. “Operating Company” means Teekay LNG Operating L.L.C., a Xxxxxxxx Islands limited liability company, and any successors thereto. “Operating Company Agreement” means the Second Amended and Restated Limited Liability Company Agreement of the Operating Company, as it may be amended, supplemented or restated from time to time. “Opinion of Counsel” means a written opinion of counsel (who may be regular counsel to the Partnership or the General Partner or any of its Affiliates) acceptable to the General Partner.

Notional General Partner Units definition

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