Partnership Interest definition

Partnership Interest means an ownership interest in the Partnership representing a Capital Contribution by either a Limited Partner or the General Partner 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 Partnership Interest may be expressed as a number of Partnership Units.

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

Partnership Interest means any class or series of equity interest in the Partnership, which shall include any General Partner Interest and Limited Partner Interests but shall exclude any options, rights, warrants and appreciation rights relating to an equity interest in the Partnership.

Examples of Partnership Interest in a sentence

• The Pledgor acknowledges and agrees that, to the extent any Pledged Partnership Interest or Pledged Membership Interest is a “security” within the meaning of, and is governed by, Article 8 of the UCC, such interest shall be represented by a certificate as to which the Pledgor shall have complied with the procedure set forth in Section 3.2(a)(i) hereof.

• All actions of the Operating Committee shall be taken by unanimous vote; provided, however, that if a Partner's Partnership Interest shall have been reduced below 45%, actions of the Operating Committee shall be taken by majority vote with the representatives of each Partner being entitled to vote in proportion to such Partner's Partnership Interest.

• Each Partner's Interest in the Partnership (its "Partnership Interest") shall be XXX, subject to adjustment as provided in Article VIII.

• The parties hereto expressly agree that, unless the Collateral Agent shall become the absolute owner of a Pledged Partnership Interest or a Pledged Membership Interest pursuant to the terms hereof, this Agreement shall not be construed as creating a partnership or joint venture or membership agreement among the Collateral Agent, any Creditor and/or the Pledgor.

• Each Partner shall be entitled to each item of the Partnership's income, profit, gain, loss, cost, deduction, credit or allowance in proportion to its Partnership Interest.

More Definitions of Partnership Interest

Partnership Interest means an ownership interest in the Partnership held by either a Limited Partner or the General Partner 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.

Partnership Interest means the entire general partnership interest or limited partnership interest at any time owned by any Pledgor in any general partnership or limited partnership.

Partnership Interest has the meaning set forth in the Partnership Agreement.

Partnership Interest means a partner's share of the profits and losses of a limited partnership and the right to receive distributions of partnership assets.

Partnership Interest means an ownership interest in the Partnership and includes any and all benefits to which the holder of such an ownership interest may be entitled as provided in this Agreement or the Act, together with all obligations of such Person to comply with the terms and provisions of this Agreement and the Act.

Partnership Interest means the percentage ownership share of each Partner in the capital of the Partnership, whether as a Limited Partner or as a General Partner, which percentage at any particular time shall be deemed to equal the percentage which such Partner’s Capital Account balance (if positive) bears to the sum of all positive Capital Account balances of the Partners at such time. In the event that a Partner’s Capital Account balance is zero or is a negative number, such Partner’s Partnership Interest shall be deemed to be zero.

Partnership Interest means, with respect to any Partner, such Partner’s entire interest in the Partnership at any particular time, including, without limitation, such Partner’s right to share in Profits and Losses and to receive Distributions pursuant to this Agreement and any and all benefits to which such Partner may be entitled as provided in this Agreement and, subject to this Agreement, the Act, together with the obligation of such Partner to comply with all the terms and provisions of this Agreement.