Partnership Common Unit Economic Balance definition

Partnership Common Unit Economic Balance has the meaning set forth in Section 6.3(b) hereof.
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Partnership Common Unit Economic Balance means (i) the Capital Account balance of the Company with respect to its ownership of Partnership Common Units, plus the amount of the Company’s share of any Partner Minimum Gain or Partnership Minimum Gain, in either case to the extent attributable to the Company’s ownership of Partnership Common Units and computed on a hypothetical basis after taking into account all allocations through the date on which any allocation is made under this Section 6.3(b), divided by (ii) the number of the Company’s Partnership Common Units.
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Partnership Common Unit Economic Balance means (i) the Capital Account Balance of the General Partner, plus the amount of the General Partner's share of any Partner Minimum Gain or Partnership Minimum Gain, in either case to the extent attributable to the General Partner's ownership of Partnership Common Units and computed on a hypothetical basis after taking into account all allocations through the date on which any allocation is made under this Section 6.3(b), divided by (ii) the number of the General Partner's Partnership Common Units. Any such allocations shall be made among the LTIP Unitholders in proportion to the amounts required to be allocated to each under this Section 6.3(b). The parties agree that the intent of this Section 6.3(b) is to make the Capital Account balance associated with each LTIP Unit to be economically equivalent to the Capital Account balance associated with the General Partner's Partnership Common Units (on a per-Unit basis), but only if and to the extent that the Capital Account balance associated with the General Partner's Partnership Common Units has increased on a per-Unit basis since the issuance of the relevant LTIP Unit.
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Examples of Partnership Common Unit Economic Balance in a sentence

  • For purposes of making future allocations under Section 6.3(b) and applying the Capital Account Limitation, the portion of the Economic Capital Account balance of the applicable Holder that is treated as attributable to his or her LTIP Units shall be reduced, as of the date of conversion, by the product of the number of LTIP Units converted and the Partnership Common Unit Economic Balance.

  • For purposes of making future allocations under Section 3.B above and applying the Capital Account Limitation, the portion of the Economic Capital Account balance of the applicable holder of 2016 LTIP Units that is treated as attributable to his or her 2016 LTIP Units shall be reduced, as of the date of conversion, by the product of the number of 2016 LTIP Units converted and the Partnership Common Unit Economic Balance.

  • Notwithstanding the foregoing, in no event may a holder of Vested LTIP Units convert a number of Vested LTIP Units that exceeds (x) the Economic Capital Account Balance of such holder, to the extent attributable to its ownership of LTIP Units, divided by (y) the Partnership Common Unit Economic Balance, in each case as determined as of the effective date of conversion (the "Capital Account Limitation").

  • Notwithstanding the foregoing, in no event may a holder of Vested 2016 LTIP Units convert a number of Vested 2016 LTIP Units that exceeds (x) the Economic Capital Account Balance of such holder, to the extent attributable to its ownership of 2016 LTIP Units, divided by (y) the Partnership Common Unit Economic Balance, in each case as determined as of the effective date of conversion (the “Capital Account Limitation”).

  • Notwithstanding the foregoing, in no event may a Holder of Vested LTIP Units convert a number of Vested LTIP Units that exceeds (x) the Economic Capital Account Balance of such Holder, to the extent attributable to its ownership of LTIP Units, divided by (y) the Partnership Common Unit Economic Balance, in each case as deter mined as of the effective date of conversion (the "Capital Account Limitation").

  • For purposes of making future allocations under Section 3.B above and applying the Capital Account Limitation, the portion of the Economic Capital Account balance of the applicable holder of LTIP Units that is treated as attributable to his or her LTIP Units shall be reduced, as of the date of conversion, by the product of the number of LTIP Units converted and the Partnership Common Unit Economic Balance.

  • Notwithstanding the foregoing, in no event may a Holder of Vested LTIP Units convert a number of Vested LTIP Units that exceeds (x) the Economic Capital Account Balance of such Holder, to the extent attributable to its ownership of LTIP Units, divided by (y) the Partnership Common Unit Economic Balance, in each case as determined as of the effective date of conversion (the "Capital Account Limitation").


More Definitions of Partnership Common Unit Economic Balance

Partnership Common Unit Economic Balance means (i) the Capital Account Balance of the General Partner, plus the amount of the General Partner’s share of any Partner Minimum Gain or Partnership Minimum Gain, in either case to the extent attributable to the General Partner’s ownership of Partnership Common Units and computed on a hypothetical basis after taking into account all allocations through the date on which any allocation is made under this Section 6.3(b), divided by (ii) the number of the General Partner’s Partnership Common Units. Except as provided above in this Section 6.3(b), any allocations required to be made to LTIP Unitholders under this Section 6.3(b) shall be made among the LTIP Unitholders in proportion to the aggregate amount thereof required to be allocated to each of them under this Section 6.3(b). The parties agree that the intent of this Section 6.3(b) is to make the Capital Account balance associated with each LTIP Unit to be economically equivalent to the Capital Account balance associated with the General Partner’s Partnership Common Units (on a per-Unit basis), but only if and to the extent provided in this Section 6.3(b). After a Book-up Event has occurred with respect to an LTIP Unit, allocations of gain (as computed for tax purposes not for book purposes) shall thereafter be made to the LTIP Unitholder pursuant to Section 6.4.
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Partnership Common Unit Economic Balance means (i) the Capital Account balance of the General Partner, plus the amount of the General Partner’s share of any Partner Minimum Gain or Partnership Minimum Gain, in either case to the extent attributable to the General Partner’s ownership of Partnership Common Units and computed on a hypothetical basis after taking into account all allocations through the date on which any allocation is made under this Section 6.3(b), divided by (ii) the number of the General Partner’s Partnership Common Units. Any such allocations shall be made among the holders of LTIP Units in proportion to the amounts required to be allocated to each under this Section 6.3(b). The parties agree that the intent of this Section 6.3(b) is to make the Capital Account balance associated with each LTIP Unit economically equivalent to the Capital Account balance associated with the General Partner’s Partnership Common Units (on a per-unit basis), but only if and to the extent that the Partnership has recognized cumulative net gains with respect to its assets since the issuance of the relevant LTIP Unit.
Sample 1

Related to Partnership Common Unit Economic Balance

  • Common Unit Economic Balance means (i) the Capital Account balance of the General Partner, plus the amount of the General Partner’s share of any Partner Minimum Gain or Partnership Minimum Gain, in either case to the extent attributable to the General Partner’s ownership of Partnership Common Units and computed on a hypothetical basis after taking into account all allocations through the date on which any allocation is made under Section 6.2.D hereof, divided by (ii) the number of the General Partner’s Partnership Common Units.

  • OP Unit Economic Balance has the meaning set forth in Section 6.03(c) hereof.

  • Partnership Minimum Gain has the meaning set forth in Regulations Section 1.704-2(b)(2), and the amount of Partnership Minimum Gain, as well as any net increase or decrease in Partnership Minimum Gain, for a Partnership Year shall be determined in accordance with the rules of Regulations Section 1.704-2(d).

  • Partnership Percentage means the percentage share of each Partner in the Net Income or Net Loss of the Partnership. The Partners’ initial Partnership Percentages shall be proportionate to the Partners’ initial Capital Contributions to the Partnership. Thereafter, subject to Section 1.68(g), such Partnership Percentages shall be adjusted only to reflect a disproportionate Capital Contribution by one or more Partners or a disproportionate distribution to one or more Partners, with disproportion being determined in accordance with Sections 4.2(a) and 4.5(b), except as set forth in Section 1.68(f).

  • Class B Common Unit means one of that certain class of Common Units with those special rights and obligations specified in this Agreement as being appurtenant to a “Class B Common Unit”.

  • Class A Common Unit means a Common Unit having the rights and obligations specified with respect to Class A Common Units in this Agreement.

  • Common Unit means a common unit representing a limited partner interest in the Partnership having the rights set forth in the Partnership Agreement.

  • General Partner Unit means a fractional part of the General Partner Interest having the rights and obligations specified with respect to the General Partner Interest. A General Partner Unit is not a Unit.

  • Class B Limited Partner means any Person executing (by power of attorney or otherwise) this Agreement as of the date hereof as a Class B Limited Partner or hereafter admitted to the Partnership as a Class B Limited Partner as herein provided, but shall not include any Person who has ceased to be a Class B Limited Partner in the Partnership.

  • Class A Common Units means the Company's Class A Common Units.

  • Common Unit Price has the meaning specified in Section 2.1(b).

  • Class B Common Units has the meaning set forth in Section 1(a) hereof.

  • Class A Limited Partner means EPCO Holdings, Inc., a Delaware corporation, and its successors and assigns.

  • Class B Unit means a Partnership Unit which is designated as a Class B Unit of the Partnership.

  • Partner Minimum Gain means an amount, with respect to each Partner Nonrecourse Debt, equal to the Partnership Minimum Gain that would result if such Partner Nonrecourse Debt were treated as a Nonrecourse Liability, determined in accordance with Regulations Section 1.704-2(i)(3).

  • Initial Common Units means the Common Units sold in the Initial Offering.

  • Net Economic Return shall have the meaning ascribed to such term in paragraph 2 of Exhibit E to the Lease.

  • Partnership Unit means a fractional, undivided share of the Partnership Interests of all Partners issued hereunder. The allocation of Partnership Units among the Partners shall be as set forth on Exhibit A, as may be amended from time to time.

  • Per Unit Capital Amount means, as of any date of determination, the Capital Account, stated on a per Unit basis, underlying any Unit held by a Person other than the General Partner or any Affiliate of the General Partner who holds Units.

  • GP Unit means a Partnership Unit which is designated as a GP Unit of the Partnership.

  • General Partner Units has the meaning assigned to such term in the Partnership Agreement.

  • Member Minimum Gain means an amount, with respect to each Member Nonrecourse Debt, equal to the Company Minimum Gain that would result if such Member Nonrecourse Debt were treated as a Nonrecourse Liability, determined in accordance with Regulations Section 1.704-2(i)(3).

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Class A Unit means a Unit representing a fractional part of the equity interest in the Company having the rights and obligations specified with respect to the Class A Units in this Agreement.