Partner Interest definition

Partner Interest means a Partner's total ownership and interest in the Partnership based upon such Partner's aggregate Capital Contributions relative to the Capital Contributions of all Partners.

Partner Interest means the interest of a Partner in the Partnership.

Partner Interest shall have the meaning set forth in the MPI Purchase Agreement.

Examples of Partner Interest in a sentence

• No Limited Partner shall have any right to withdraw from the Partnership; provided, however, that when a transferee of a Limited Partner’s Limited Partner Interest becomes a Record Holder of the Limited Partner Interest so transferred, such transferring Limited Partner shall cease to be a Limited Partner with respect to the Limited Partner Interest so transferred.

• A Person may become a Limited Partner or Record Holder of a Limited Partner Interest without the consent or approval of any of the Partners.

• Such payment and assignment shall be treated for Partnership purposes as a purchase by the Partnership from the Non-citizen Assignee of his Limited Partner Interest (representing his right to receive his share of such distribution in kind).

• By transfer of a Limited Partner Interest in accordance with Article IV, the transferor shall be deemed to have given the transferee the right to seek admission as a Substituted Limited Partner subject to the conditions of, and in the manner permitted under, this Agreement.

• In the case of a transfer pursuant to and in compliance with this Section 4.6, the transferee or successor (as the case may be) shall, subject to compliance with the terms of Section 10.2, be admitted to the Partnership as the General Partner effective immediately prior to the transfer of the General Partner Interest, and the business of the Partnership shall continue without dissolution.

More Definitions of Partner Interest

Partner Interest means an interest in LAZ-MD or Lazard Group that is exchangeable for Lazard Ltd Shares and the Lazard Ltd Shares issuable or deliverable upon exchange of such interest.

Partner Interest means the interest in the Partnership held by a Partner, including such Partner’s right (based on the type and class and/or series of Unit or Units held by such Partner), as applicable, (A) to a distributive share of the assets of the Partnership and to allocations of Profit and Loss and (B) to any and all other benefits to which such Partner may be entitled as provided in this Agreement or the Act.

Partner Interest is used herein in the context of any vote or other approval, including Articles XIII and XIV, such term shall not, solely for such purpose, include any Incentive Distribution Right except as may otherwise be required by law.

Partner Interest means each General Partner Interest and/or Limited Liability Partner Interest in the Company and/or Profit Certificate;

Partner Interest means the ownership interest (including its partnership interest (as such term is defined in Section 17-101(13) of the Delaware Act)) of a Limited Partner in the Partnership (in its capacity as a “limited partner” of the Partnership as such term is defined in Section 17-101(8) of the Delaware Act), including any and all rights and benefits to which such Limited Partner is entitled as provided in this Agreement, together with all obligations of such Limited Partner (as the holder of a Partner Interest) set forth in the terms and provisions of this Agreement.

Partner Interest means any equity interest in the Partnership or any right, option, warrant or other equity security exchangeable for or convertible into such an equity interest (other than convertible debt securities) and includes any and all benefits to which the holder of such a Partner 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 Partner Interest may be expressed as a number of Units of a series or class.

Partner Interest means, with respect to each Partner, the Units that are owned by such Partner and all rights appurtenant thereto as a Member of the Company under the Company’s Charter Documents and as provided under the applicable provisions of the laws of the State of California.