Partnership Liability definition

Partnership Liability means the debts, obligations and other liabilities of the Partnership which the Partners may be jointly and severally liable for in accordance with Section 15-306(a) of the Act.
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Partnership Liability means, with respect to a Participating Partnership, that part, if any, of an Advance (together with interest thereon and fees, prepayment premiums and other charges properly attributable thereto) that is received by and used by or for the benefit of such Participating Partnership, as certified to Lender by Cavalier Homes, under Section 4.2, in connection with Cavalier Homes's request for such Advance, and "Partnership Liabilities" means the aggregate amount of all such parts of Advances that are received by and used by or for the benefit of such Participating Partnership.
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Partnership Liability means any debt, liability or obligation of the Partnership (whether fixed, accrued, unmatured or contingent), and "Partnership Liabilities" means the aggregate of all such debts, liabilities and obligations of the Partnership.
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Examples of Partnership Liability in a sentence

  • In furtherance of (and without limiting) the foregoing, the Canadian Borrower acknowledges and agrees that its Partnership Liability shall exist in full force and effect regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any Outstanding Obligations of the U.S. Borrower or the rights of the Administrative Agent or any of the Lenders with respect thereto.

  • If the LOS Partner or any Affiliate of the LOS Partner reasonably anticipates that it may incur Damages in excess of its 30 percent share of an Unassigned Partnership Liability, it may notify the Designs Partner and the Designs Partner will thereupon be required to pay its 70 percent share of such liability to the LOS Partner, or the LOS Partner's Affiliate as the case may be, without requiring the LOS Partner, or the LOS Partner's Affiliate as the case may be, to first pay its 30 percent share.

  • The Designs Partner agrees to indemnify the LOS Partner and the LOS Partner's Affiliates and hold them harmless from and against (i) all Damages relating to any obligation or liability of the Partnership assigned to and assumed by the Designs Partner or its designees and (ii) 70 percent of all Damages incurred by the LOS Partner or the LOS Partner's Affiliates and related to any obligation or liability of the Partnership not assigned to or assumed by either Partner (an "Unassigned Partnership Liability").

  • General Partnership: Liability of all members is unlimited.b. Limited Partnership: one partner has unlimited liability and the liability of other partners is limited to their share in the partnership.

  • The LOS Partner agrees to indemnify the Designs Partner and the Designs Partner's Affiliates and hold them harmless from and against (i) all Damages relating to any obligation or liability of the Partnership assigned to and assumed by the LOS Partner or its designees and (ii) 30 percent of all Damages incurred by the Designs Partner or the Designs Partner's Affiliates and related to any Unassigned Partnership Liability.

  • The entire outstanding Principal Indebtedness, together with --- --- all accrued but unpaid interest thereon to (but excluding) the Maturity Date and all other amounts then due under the Loan Documents, shall be due and payable by the Borrowers to the Lenders (jointly and severally, except that the Trust and the Operating Partnership shall only be liable for the Operating Partnership Liability Amount) on the Maturity Date.

  • On May 11, 2020, Defendants also filed a Counter-Complaint against Plaintiffs, apart from Mr. Shurafa, on claims titled: (Count One) Unjust Enrichment; (Count Two) Direct Breach of the Listing Agreement; Count Three (Partnership Liability); and, Promissory Estoppel.On July 6, 2020, Defendants filed their Motion for Summary Disposition under MCR 2.116(C)(7) Based Upon an Agreement to Arbitrate.

  • Any certificate or certificates representing shares of Restricted Stock shall bear a legend similar to the following:The shares represented by this certificate have been issued pursuant to the terms of the Ashford Inc.

  • REG-131186-17, Proposed Removal of Temporary Regulations on a Partner’s Share of a Partnership Liability for Disguised Sale Purposes, 83 F.R. 28397 (6/19/18).

  • No agreements to which -------------------------------------- the Operating Partnership or the Trust is a party restrict the amount of Debt that may be incurred by the Operating Partnership and the Trust except as set forth in Schedule 5, and none of such agreements would preclude the Operating ---------- Partnership and the Trust from borrowing hereunder in an amount equal to the Operating Partnership Liability Amount.


More Definitions of Partnership Liability

Partnership Liability means, with respect to a Participating Partnership, that part, if any, of an Advance (together with interest thereon and fees, prepayment premiums and other charges properly attributable thereto) that is received by and used by or for the benefit of such Participating Partnership, as certified to Lender by Cavalier Homes, under Section 4.2, in connection with Cavalier Homes' request for such Advance, and "Partnership Liabilities" means the aggregate amount of all such parts of Advances that are received by and used by or for the benefit of such Participating Partnership. "Pension Plan" means any employee pension benefit plan, as defined in Section 3(2) of ERISA that is subject to Section 302 of ERISA.
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Partnership Liability means a liability of the Partnership or the Partnership's share of a liability of an Intermediate Partnership or the Partnership's share of an Intermediate Partnership's share of a liability of an Operating Partnership.
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Related to Partnership Liability

  • Partnership Loan has the meaning provided in Section 5.2(c) hereof.

  • Suretyship Liability means any agreement, undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to or otherwise to invest in a debtor, or otherwise to assure a creditor against loss) any indebtedness, obligation or other liability of any other Person (other than by endorsements of instruments in the course of collection), or guarantees the payment of dividends or other distributions upon the shares of any other Person. The amount of any Person's obligation in respect of any Suretyship Liability shall (subject to any limitation set forth therein) be deemed to be the principal amount of the debt, obligation or other liability supported thereby.

  • Look-Through Ownership Limit means, for any Look-Through Entity, a number of the Outstanding shares of Class B Preferred Stock of the Corporation having an Aggregate Value not in excess of the excess of (x) 15% of the Aggregate Value of all Outstanding shares of Equity Stock over (y) by the Aggregate Value of all shares of Equity Stock other than Class B Preferred Stock that are Beneficially Owned by the Look-Through Entity.

  • Ownership Limit means, for any Person other than the Initial Holder or a Look-Through Entity, a number of the Outstanding shares of Class C Preferred Stock of the Corporation having an Aggregate Value not in excess of the excess of (x) 8.7% of the Aggregate Value of all Outstanding shares of Equity Stock over (y) the Aggregate Value of all shares of Equity Stock other than Class C Preferred Stock that are Beneficially Owned by the Person.

  • 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).

  • Ownership Limitation shall have the meaning set forth in Section 2.01(c)(i).

  • Aggregate Share Ownership Limit means not more than 9.8% in value of the aggregate of the outstanding Shares and not more than 9.8% (in value or in number of shares, whichever is more restrictive) of any class or series of Shares.

  • Common Share Ownership Limit means not more than 9.8 percent (in value or in number of shares, whichever is more restrictive) of the aggregate of the Outstanding Common Shares, or such other percentage determined by the Manager in accordance with Section 13.9.

  • Beneficial Ownership Limitation shall have the meaning set forth in Section 4(d).

  • Partnership Percentage means a percentage established for each partner on the Partnership' books as of the first day of each Fiscal Period. The Partnership Percentage of a Partner for a Fiscal Period shall be determined by dividing the amount of the Partner's capital account as of the beginning of the Fiscal Period by the sum of the capital accounts of all of the Partners as of the beginning of the fiscal Period. The sum of the Partnership Percentage for each fiscal Period shall equal one hundred percent (100%).

  • Aggregate Stock Ownership Limit means not more than 9.8% in value of the aggregate of the outstanding shares of Equity Stock. The value of the outstanding shares of Equity Stock shall be determined by the Board of Directors in good faith, which determination shall be conclusive for all purposes hereof.

  • Common Stock Ownership Limit means not more than 9.8% (in value or in number of shares, whichever is more restrictive) of the aggregate of the outstanding shares of Common Stock of the Company. The number and value of outstanding shares of Common Stock of the Company shall be determined by the Board of Directors in good faith, which determination shall be conclusive for all purposes hereof.

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

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Maximum Potential Additional Dividend Liability, as of any Valuation Date, means the aggregate amount of Additional Dividends that would be due if the Corporation were to make Retroactive Taxable Allocations, with respect to any fiscal year, estimated based upon dividends paid and the amount of undistributed realized net capital gains and other taxable income earned by the Corporation, as of the end of the calendar month immediately preceding such Valuation Date and assuming such Additional Dividends are fully taxable.

  • 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).

  • Company Minimum Gain has the meaning given the term “partnership minimum gain” in Sections 1.704-2(b)(2) and 1.704-2(d) of the Regulations.

  • Virginia venture capital account means an investment fund that has been certified by the

  • Noneconomic damages ’ means damages for phys-

  • Aggregate Ownership Limit means not more than 9.8 percent (in value or in number of shares, whichever is more restrictive) of the aggregate of the Outstanding Shares, or such other percentage determined by the Manager in accordance with Section 13.9.

  • 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.

  • Limited Partnership Interest means the ownership interest of a Limited Partner in the Partnership at any particular time, including the right of such Limited Partner to any and all benefits to which such Limited Partner may be entitled as provided in this Agreement and in the Act, together with the obligations of such Limited Partner to comply with all the provisions of this Agreement and of such Act.

  • BRRD Liability means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised;

  • General Partner Interest means a Partnership Interest held by the General Partner, in its capacity as general partner. A General Partner Interest may be expressed as a number of Partnership Units.

  • Nonrecourse Liability has the meaning set forth in Treasury Regulation Section 1.752-1(a)(2).

  • Company Interest means the interest of a Member in Profits, Losses and Distributions.