OPERATING PARTNERSHIP INTEREST definition

OPERATING PARTNERSHIP INTEREST means an ownership interest in the Operating Partnership held by either a Limited Partner or the General Partner and includes any and all benefits to which the holder of such an Operating Partnership Interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement.
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OPERATING PARTNERSHIP INTEREST means the 98.99% partnership interest of the Fund in an Operating Partnership. "Partner" means any General Partner or Limited Partner. "Partnership Interest Options" means those agreements pursuant to which the Fund will acquire, subject to raising sufficient proceeds of this Offering, Operating Partnership Interests in respect of Facility I and Facility II. "Person" means any individual or Entity. "Preferred Return" means the cumulative, non-compounded annual return equal to 10. 125% of the Adjusted Capital Balance of each Investor commencing on the earlier of (i) the final closing for the sale of Units or (ii) June 30, 1988. At the time of a Sale or Refinancing, if any portion of the Preferred Return of an Investor has not been paid from Net Cash Flow, such unpaid portion will be added to the Investor's priority distribution from the Net Proceeds of Sale or Refinancing, all as more fully set forth in Article IV. "Profit" or "Loss" means, for each fiscal year or other period, an amount equal to the Fund's taxable income or loss for such year or period, with the following adjustments: (i) Any income of the Fund that is exempt from federal income tax shall be added to such taxable income or loss; (ii) Any expenditures of the Fund described in Section 705(a)(2)(B) of the Code, or treated as Section 705(a)(2)(B) of the Code expenditures pursuant to Income Tax Reg. ss.1.704-1(b)(2)(iv)(i), shall be subtracted from such taxable income or loss; and (iii) In lieu of the depreciation, amortization and other cost recovery deductions taken into account in computing such taxable income or loss, an amount equal to the depreciation, amortization, or other cost recovery deduction allowable with respect to an asset for such year or other period for federal income tax purposes shall be taken into account, except that if the fair market value on the date that the asset is contributed to the Fund (or if the basis of such asset for book purposes is adjusted under the Income Tax Regulations, such adjusted book basis) differs from its adjusted basis for federal income tax purposes at the beginning of such year or other period, the depreciation, amortization and other cost recovery deductions taken into account shall be equal to an amount which bears the same ratio to such beginning fair market value (or adjusted book basis) as the federal income tax depreciation, amortization, or other cost recovery deduction for such year or other period bears to such beginning adjusted tax b...
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OPERATING PARTNERSHIP INTEREST means the limited partnership interest of the Partnership in an Operating Partnership.
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More Definitions of OPERATING PARTNERSHIP INTEREST

OPERATING PARTNERSHIP INTEREST. The Partnership’s general partnership interest in the Operating Partnership.
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OPERATING PARTNERSHIP INTEREST means the 98.99% partnership interest of the Fund in an Operating Partnership.
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OPERATING PARTNERSHIP INTEREST means the entire interest of an Intermediate Partnership in an Operating Partnership, including the right of such Intermediate Partnership to any and all benefits to which such Intermediate Partnership may be entitled as provided in an Operating Partnership Agreement and the obligation of such Intermediate Partnership to comply with the terms of such Operating Partnership Agreement.
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OPERATING PARTNERSHIP INTEREST means, collectively, all Direct Operating Partnership Interests and all Indirect Operating Partnership Interests.
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Related to OPERATING PARTNERSHIP INTEREST

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Limited Partnership Interest means the ownership interest of a Limited Partner in the Partnership at any particular time, including the right of such Limited Partner to any and all benefits to which such Limited Partner may be entitled as provided in this Agreement and in the Act, together with the obligations of such Limited Partner to comply with all the provisions of this Agreement and of the Act.

  • Partnership Interest means an interest in the Partnership, which shall include the General Partner Interest and Limited Partner Interests.

  • Pledged Partnership Interests means all interests in any general partnership, limited partnership, limited liability partnership or other partnership including, without limitation, all partnership interests listed on Schedule 4.4(A) under the heading “Pledged Partnership Interests” (as such schedule may be amended or supplemented from time to time) and the certificates, if any, representing such partnership interests and any interest of such Grantor on the books and records of such partnership or on the books and records of any securities intermediary pertaining to such interest and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such partnership interests.

  • Operating Partnership Agreement means the Amended and Restated Agreement of Limited Partnership of the Operating Partnership, as it may be amended, supplemented or restated from time to time.

  • Deemed Partnership Interest Value means, as of any date with respect to any class of Partnership Interests, the Deemed Value of the Partnership Interests of such class multiplied by the applicable Partner's Percentage Interest of such class.

  • Derivative Partnership Interests means any options, rights, warrants, appreciation rights, tracking, profit and phantom interests and other derivative securities relating to, convertible into or exchangeable for Partnership Interests.

  • Partnership Assets means all assets, whether tangible or intangible and whether real, personal or mixed (including, without limitation, all partnership capital and interest in other partnerships), at any time owned or represented by any Partnership Interest.

  • Class A Membership Interest means a Class A Membership Interest in Holdings.

  • General Partner Interest means a Partnership Interest held by the General Partner, in its capacity as general partner. A General Partner Interest may be expressed as a number of Partnership Units.

  • Partnership Property means any property, real, personal or mixed, or any interest therein or appurtenant thereto which may be owned or acquired by the Partnership.

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

  • Class B Membership Interest means a Class B Membership Interest in Holdings.

  • Membership Interest means a Member’s entire interest in the Company including such Member’s right to receive allocations and distributions pursuant to this Agreement and the right to participate in the management of the business and affairs of the Company in accordance with this Agreement, including the right to vote on, consent to, or otherwise participate in any decision or action of or by the Members granted pursuant to this Agreement.

  • Limited Partner Interest means a Partnership Interest of a Limited Partner in the Partnership representing a fractional part of the Partnership Interests of all Limited Partners and includes any and all benefits to which the holder of such a Partnership Interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement. A Limited Partner Interest may be expressed as a number of Partnership Common Units, Partnership Preferred Units or other Partnership Units.

  • Borrower Partnership Agreement means the Limited Partnership Agreement of the Borrower dated as of January 17, 2014 as such agreement may be amended, restated, modified or supplemented from time to time with the consent of the Administrative Agent or as permitted under Section 10.10.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • Partnership Interests shall have the meaning specified in Section 6.3 [Subsidiaries].

  • Economic Interest Owner means the owner of an Economic Interest who is not a Member.

  • General partnership means an organization formed under chapters 45-13 through 45-21.

  • Pledged Partnership Agreements means all of each Grantor’s rights, powers, and remedies under the partnership agreements of each of the Pledged Companies that are partnerships.

  • Limited Liability Company Interests means the entire limited liability company membership interest at any time owned by any Pledgor in any limited liability company.

  • Limited Partnership Agreement means the Second Amended and Restated Agreement of Limited Partnership of the Partnership dated as of March 9, 2004, as amended from time to time.

  • Membership Interests has the meaning set forth in the recitals.

  • MLP Partnership Agreement means the Amended and Restated Agreement of Limited Partnership of the MLP, as amended or restated from time to time.

  • OP means open pit and “UG” means underground.