Obligated Partner definition

Obligated Partner means that or those Limited Partners listed as Obligated Partners on Exhibit C attached hereto and made a part hereof, as such Exhibit may be amended from time to time by the General Partner, whether by express amendment to this Agreement or by execution of a written instrument by and between any additional Obligated Partner being directly affected thereby and the General Partner acting on behalf of the Partnership and without the prior consent of the Limited Partners (other than the Obligated Partners being affected thereby).
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Obligated Partner means a Partner who has agreed in writing to be an Obligated Partner and has agreed and is obligated to make certain contributions, not in excess of such Obligated Partner’s Protected Amount, to the Partnership with respect to such Partner’s Capital Account Deficit upon the occurrence of certain events.
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Obligated Partner means a Partner who has agreed in writing to be an Obligated Partner and has agreed and is obligated to make certain contributions, not in excess of such Obligated Partner's Protected Amount, to the Partnership with respect to such Partner's Capital Account Deficit upon the occurrence of certain events.
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Examples of Obligated Partner in a sentence

  • Any such contribution by an Obligated Partner shall be used to make payments to creditors of the Partnership and such Obligated Partners (i) shall not be subrogated to the rights of any such creditor against the General Partner, the Partnership, another Partner or any Person related thereto, and (ii) hereby waive any right to reimbursement, contribution or similar right to which such Obligated Partners might otherwise be entitled as a result of the performance of their obligations under this Agreement.

  • Each Obligated Partner having such an obligation to restore a deficit Capital Account shall satisfy such obligation by the end of the fiscal year of liquidation (or, if later, within ninety (90) days following the liquidation and dissolution of the Partnership) or distribution to such Obligated Partner, as the case may be.

  • Each Obligated Partner having such an obligation to restore a deficit Capital Account shall satisfy such obligation by the end of the fiscal year of liquidation (or, if later, within ninety (90) days following the liquidation and dissolution of the Partnership).

  • Any such contribution by an Obligated Partner shall be used to make payments to creditors of the Partnership and such Obligated Partners (i) shall not be subrogated to the rights of any such creditor against the General Partner, the Partnership, another Partner, or any Person related thereto, and (ii) hereby waive any right to reimbursement, contribution or similar right to which such Obligated Partners might otherwise be entitled as a result of the performance of their obligations under this Agreement.

  • EXHIBIT C Obligated Partners Exhibit C Protected Amounts Obligated Partner Protected Amount* Cache Valley Mall Partnership, Ltd.

  • The New Limited Partner hereby agrees to become an Obligated Partner with a Protected Amount as defined in, and adjusted from time to time pursuant to, that Tax Matters Agreement of even date herewith entered into by the Partnership and the New Limited Partner.

  • Following the passage of the six-month period after the event set forth in clause (ii)(A) or (B) of this paragraph, an Obligated Partner shall cease to be an Obligated Partner at the first time, if any, that all of the conditions set forth in (X) through (Z) above are no longer in existence.

  • EXHIBIT B to the Partnership Agreement is hereby deleted in its entirety and replace by EXHIBIT B hereto which identifies each Obligated Partner of the Partnership and such Obligated Partner's respective Restoration Amount.

  • Rex Frazier Title: President 1 EXHIBIT B LIST OF OBLIGATED PARTNERS Obligated Partner Restoration Amount{1} Boise Mall Investment Co., Ltd.{2} $10,431,500 less 21.32857% of the Guaranteed Amount (which amount will initially equal $3,857,332) Cache Valley Mall Partnership, Ltd.

  • Each Protected Partner and Obligated Partner, hereby covenants and agrees to provide, on its own behalf or through its legal representatives, GGP Partnership with prompt written notice of any transfer of Protected Units or the death of such Protected Partner or Obligated Partner.


More Definitions of Obligated Partner

Obligated Partner means a Protected Partner who has agreed to become an Obligated Partner pursuant to Section 5(b) hereof and whose name is set forth on Schedule 3 to this Agreement, and any person who (1) holds Protected Units, (2) acquired such Protected Units from an Obligated Partner in a transaction in which such transferee's adjusted basis, as determined for federal income tax purposes, is determined, in whole or in part, by reference to the adjusted basis of the Obligated Partner in such Protected Units, and (3) elects to assume a portion of such transferor Obligated Partner's Protected Amount pursuant to the provisions of Section 5(b) hereof. Notwithstanding the foregoing, a person who acquires Protected Units as the result of the death of an Obligated Partner shall not be considered an Obligated Partner with respect to such Protected Units.
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Related to Obligated Partner

  • General Partner has the meaning set forth in the Preamble.

  • Operating Partnership has the meaning set forth in the preamble.

  • Obligated Entity means a person or entity that sells electrical energy to end-use

  • Partner means any General Partner or Limited Partner.

  • Property Owner means any person shown as the owner of land on the last equalized assessment roll or otherwise known to be the owner of land by the city council. “Business owner” means any person recognized by the city as the owner of the business. “Owner” means either a business owner or a property owner. The city council has no obligation to obtain other information as to the ownership of land or businesses, and its determination of ownership shall be final and conclusive for the purposes of this part. Wherever this part requires the signature of the property owner, the signature of the authorized agent of the property owner shall be sufficient. Wherever this part requires the signature of the business owner, the signature of the authorized agent of the business owner shall be sufficient.

  • Limited Partner means, prior to the admission of the first Additional Limited Partner to the Partnership, the Initial Limited Partner, and thereafter any Person named as a Limited Partner in Exhibit A, as such Exhibit may be amended from time to time, upon the execution and delivery by such Person of an additional limited partner signature page, or any Substituted Limited Partner or Additional Limited Partner, in such Person’s capacity as a Limited Partner of the Partnership.

  • Restricted Party means a person that is: