Partners’ Capital definition

Partners’ Capital means, at any time, the amount reflected as “Partners’ Capital” on a consolidated balance sheet of the Borrower and its Subsidiaries at such time, prepared in accordance with GAAP.

Partners’ Capital means the equity in the net assets of Unincorporated Ventures of all the partners or venturers (other than the Borrower or a Subsidiary) of such Unincorporated Ventures, or minority interest holders, as determined in accordance with GAAP.

Partners’ Capital means the sum of Capital Contributions (as such term is defined in the Debtor's Agreement of Limited Partnership), plus retained earnings, if any; "Subordinated Debt" means all of the Debtor's debt which is specifically junior or subordinated to the Indebtedness. The "Senior Leverage Ratio" shall be calculated by dividing the Debtor's Combined Recourse Debt by the Debtor's Adjusted Partner's Capital. "Combined Recourse Debt" means all Debtor's debts and liabilities, but excluding third party accounts payable, accrued expenses, non-recourse debt and intercompany obligations. Beginning on October 1, 2004, the General Partner will provide financial statements along with a compliance certificate, as described in Section 6(a) above, so long as the Commitment is in effect.

Examples of Partners’ Capital in a sentence

• No interest shall be paid by the Partnership on Capital Contributions or on balances in Partners’ Capital Accounts.

• If and to the extent any payments to the General Partner pursuant to this Section 7.7 constitute gross income to the General Partner (as opposed to the repayment of advances made on behalf of the Partnership), such amounts shall constitute guaranteed payments within the meaning of Section 707(c) of the Code, shall be treated consistently therewith by the Partnership and all Partners, and shall not be treated as distributions for purposes of computing the Partners’ Capital Accounts.

• Except as otherwise required under Section 704(c) of the Code and the Treasury Regulations promulgated thereunder, the Partnership shall cause each item of income, gain, loss or deduction recognized by the Partnership to be allocated among the Partners for U.S. federal, state and local income and, where relevant, non-U.S. tax purposes in the same manner that each such item is allocated to the Partners’ Capital Accounts or as otherwise provided herein.

• Solely for the purposes of determining the balances of the Partners’ Capital Accounts at that time, any Partnership Property that is distributed in kind shall be treated as though such Partnership Property were sold for its Fair Market Value as of the date of distribution, as determined by an independent appraiser.

• If and to the extent any payments to the General Partner pursuant to this Section 7.07 constitute gross income to the General Partner (as opposed to the repayment of advances made on behalf of the Partnership), such amounts shall constitute guaranteed payments within the meaning of Section 707(c) of the Code, shall be treated consistently therewith by the Partnership and all Partners, and shall not be treated as distributions for purposes of computing the Partners’ Capital Accounts.

More Definitions of Partners’ Capital

Partners’ Capital means, at any date, the amount determined on a consolidated basis, without duplication, in accordance with GAAP, of partners’ capital for the Borrower and its Subsidiaries at such date.

Partners’ Capital means Partners Capital International Limited, a licensed

Partners’ Capital means partner’s capital (excluding any xxxx-to-market gain or loss on Hedging Liabilities) plus “Due to General Partner” plus Subordinated Debt and intercompany balances.

Partners’ Capital means, as of any date of determination, partners' capital as of that date determined in accordance with GAAP; provided that there shall be excluded from Partners' Capital any amount attributable to partnership interest that is, directly or indirectly, required by its terms to be redeemed or repurchased by the Issuer thereof at a specified date or upon the occurrence of specified events or at the election of the holder thereof, if and to the extent that such date is, or such events or election could occur, prior to the final maturity date of any Indebtedness.

Partners’ Capital means, as of any date of determination, with respect to any Person, consolidated partner’s capital of such Person as of that date determined in accordance with GAAP.

Partners’ Capital means, as of the date of determination, the aggregate value of the capital accounts of the partners of Parent as shown on Parent’s consolidated balance sheet contained in the most recent financial statements delivered pursuant to Section 6.3 of the Credit Agreement.

Partners’ Capital means, at any time, the Borrower’s consolidated partners’ capital, determined in accordance with GAAP, minus the sum of any withdrawals required under the Agreement of Limited Partnership within the 12 months succeeding the time as of which Partners’ Capital is calculated.