Partner Distributions definition
Examples of Partner Distributions in a sentence
Such Preferred Partner Distributions will accrue and be cumulative from the original date of issue whether or not they have been declared and whether or not there are profits, surplus or other funds of the Partnership legally available for the payment of distributions, or whether they are deferred.
The Partnership covenants and agrees that the Partnership Agreement does, and during the Term will continue to, provide that the Approved Purposes do not include per capita distributions or other forms of direct per capita distributions of any portion of the Limited Partner Distributions to Members or any other Person.
That it or he has, disclosed to Glenborough all material facts known to him or it affecting the value, legal and operational condition of the Partnerships, the General Partner Distributions, the Partnership and General Partner obligations, and the financial, legal and physical condition of the Partnership investment assets known to him or it.
The Parties acknowledge and agree that in respect of the Limited Partner Distributions, the Approved Purposes are to be interpreted to include within their meaning and scope the cultures, traditions, values, beliefs, methods and practices of First Nations in British Columbia, provided that in no event will any such tradition, value, belief, method or practice override any specific use of funds provisions, or any reporting or accountability provisions, set out in this Agreement.
Notwithstanding sections 3.2 and 3.3, the Partnership, at the request of a Limited Partner, but at the discretion of the General Partner acting reasonably, may request in writing that the Province pay directly to a Limited Partner its Limited Partner Distributions, the amount of which will be determined in accordance with the Partnership Agreement, as notified by the General Partner to the Province.
In the event that any date on which Preferred Partner Distributions are payable is not a Business Day, then payment of such Preferred Partner Distribution will be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.
To the extent such fees and expenses are not otherwise paid directly by the parties to the Transfer, the Partnership shall be entitled to set off such amounts against Partner Distributions otherwise receivable by the Person who becomes or is a Partner.
For the avoidance of doubt, any amount which in the reasonable opinion of the General Partner cannot conveniently or equitably be distributed within such time may be carried forward and deemed to be Partner Distributions for the following Fiscal Quarter(s).
The parties acknowledge and agree that in respect of the Limited Partner Distributions, the Approved Purposes are to be interpreted to include within their meaning and scope the cultures, traditions, values, beliefs, methods and practices of First Nations in Ontario, provided that in no event shall any such tradition, value, belief, method or practice override any specific use of funds provisions, or any reporting or accountability provisions, set out in this Agreement.
For greater certainty, nothing in this Agreement prohibits two or more Limited Partners from using Limited Partner Distributions to jointly further a project of benefit to such Limited Partners and their Members, provided such project is in respect of or in furtherance of the Approved Purposes.