Partnership Option definition

Partnership Option means an outstanding option, warrant or right to acquire Partnership Interests as of immediately prior to the Effective Time, other than pursuant to the Partnership Equity Plans.
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Partnership Option means the option award granted under the Partnership Equity Incentive Plan that entitle the holder thereof to purchase certain LP Interests upon the vesting of such award.
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Partnership Option. As defined in Recital H to this Agreement.
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Examples of Partnership Option in a sentence

  • For the avoidance of doubt, any Partnership Option which has a per Common Unit exercise price that is greater than or equal to the Common Unit Consideration shall be cancelled at the Effective Time for no consideration or payment.

  • It is intended that, upon exercise of this Option, the Optionholder shall include in income ("Exercise Income") in the tax year of exercise an amount equal to the excess, if any, of the fair market value of Common Units on the date of exercise over the sum of the amount the Optionholder has paid or will pay to the Partnership ("Option Consideration") upon the grant and exercise of the Option.

  • The failure of the Partnership to deliver such a notice to the Transferring Management Limited Partner within the Partnership Option Period to the Transferring Management Limited Partner shall be deemed to be a waiver of the Partnership’s rights under Section 4.9(c).

  • The consideration payable by KORES under the Equal Partnership Option will be based on the implied market value (the “IMV”) of the Rare Earth Operations and will be payable to Frontier in cash.

  • To the extent required by applicable law, Crown shall require each employee and trustee who exercises a Crown Option, Crown Partnership Option or who receives Crown Common Shares pursuant to any existing commitment to pay to Crown in cash or Crown Common Shares an amount sufficient to satisfy in full Crown's obligation to withhold Taxes incurred by reason of such exercise or issuance (unless and to the extent such withholding is satisfied pursuant to the provision regarding withholding in Section 1.11(c)).

  • The EV for the purposes of the ASI Option will be calculated on a similar basis to the Equal Partnership Option, except that the VWAP calculation will be based on the 15 trading days immediately after the public announcement that an ASI Event has taken place.

  • The Partnership shall distribute the proceeds from the sale of the Partnership Option Units to HEP.

  • In respect of each Crown Partnership Option converted into a Substituted Partnership Option, and the PREIT Common Shares underlying such Substituted Partnership Option, PREIT shall, immediately following the date of conversion, file or shall have filed, and shall keep current a Registration Statement on Form S-8 or other appropriate registration statement for as long as Substituted Partnership Options remain outstanding.

  • In the event that KORES fails to arrange debt finance or procures a debt finance proposal that is not acceptable to the Board of Frontier, Option A (the Equal Partnership Option) will lapse.

  • For a complete historical account of the DTC, see Neil Brooks, Taxation of Closely-Held Corporations: The Partnership Option and the Lower Rate of Tax, 3 AUSTL.


More Definitions of Partnership Option

Partnership Option has the meaning set out in Section 4. (tt) “Partnership Option Closing” has the meaning set out in the Purchase Agreement. (uu) “Party” means any of the Holder and the Owner and “Parties” means the Holder and the Owner collectively. (vv) “Person” means any individual, sole proprietorship, partnership, firm, entity, unincorporated association, unincorporated syndicate, unincorporated organization, trust, body corporate, government authority and, where the context requires, any of the foregoing when they are acting as trustee, executor, administrator or other legal representative. (ww) “Pre-Approved Purchaser” means a Person that (i) operates, directly or indirectly a producing mining operation; (ii) has a direct and primary listing on a Designated Stock Exchange; (iii) has a head office located in one of Canada, the United States, the United Kingdom, the European Union, Switzerland, South Africa or Australia; and (iv) has a Credit Rating at the time of the potential purchase that is equal to or greater than the Owner’s Credit Rating on the date of the Purchase Agreement or, if a Person does not have a Credit Rating, a market capitalization that is equal to or greater than the Owner on the date of the Purchase Agreement. (xx) “Prime” means at any particular time, the rate of interest, expressed as a rate per annum, that the Bank of Nova Scotia establishes as its prime rate of interest with respect to short term loans to its most credit worthy customers. (yy) “Properties” means the properties set out on Schedule ”A”. (zz) “Purchase Agreement” has the meaning set out in the recitals to this Agreement. (aaa) “Released Properties” has the meaning set out in Section 15(b). (bbb) “Relinquishment Event” has the meaning set out in Section 15(b). (ccc) “Repurchase” has the meaning set out in Section 5(a). (ddd) “Repurchase Closing Date” has the meaning set out in Section 5(b).
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Partnership Option means the right of the Vendor to acquire a 90% interest in the Partnership pursuant to a Memorandum of Understanding attached hereto as Schedule “B”; “Party” means a Person which is bound by this Agreement; “Person” means any individual, partnership, corporation, association, business, trust, government or political subdivision thereof, governmental agenct or other entity; “Purchaser” means Big Sky Energy Kazakhstan Ltd., an Alberta registered corporation having an office in the City of Calgary, in the Province of Alberta; “Regulations” means all statutes, laws, codes, treaties, ordinances, decrees, rules, orders and regulations in effect from time to time and made by governments or Governmental Entities having jurisdiction over the Vendor, the Purchaser, or the Partnership; “Tax Act” means the Income Tax Act (Canada), as amended from time to time; and “Vendor” means IbrizOil Inc., and Alberta registered corporation having an office in the City of Calgary, in the Province of Alberta.
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Related to Partnership Option

  • 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.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

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

  • sub-unit means, with respect to any currency other than euro, the lowest amount of such currency that is available as legal tender in the country of such currency and, with respect to euro, one cent.

  • LP Units means the non-voting limited partnership units in the capital of BEP, other than the Preferred Units, including any LP Units issued pursuant to the Redemption-Exchange Mechanism.

  • Incentive Share Option means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto.

  • Unit Share has the meaning ascribed thereto in the first paragraph of this Agreement;

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

  • Parent Option means any option to purchase Parent Common Stock which was granted pursuant to a Parent Option Plan.

  • Partnership Unit Designation shall have the meaning set forth in Section 4.2.A hereof.

  • Co-op Shares Shares issued by private non-profit housing corporations.

  • Non-Qualified Share Option means an Option that is not intended to be an Incentive Share Option.

  • Share Appreciation Right means the right pursuant to an Award granted under Section 8 below to receive an amount equal to the excess, if any, of (i) the aggregate Fair Market Value, as of the date such Award or portion thereof is surrendered, of the Shares covered by such Award or such portion thereof, over (ii) the aggregate Exercise Price of such Award or such portion thereof.

  • REIT Shares Amount means a number of REIT Shares equal to the product of the number of Partnership Units offered for exchange by a Tendering Party, multiplied by the Conversion Factor as adjusted to and including the Specified Redemption Date; provided that in the event the General Partner issues to all holders of REIT Shares rights, options, warrants or convertible or exchangeable securities entitling the stockholders to subscribe for or purchase REIT Shares, or any other securities or property (collectively, the “rights”), and the rights have not expired at the Specified Redemption Date, then the REIT Shares Amount shall also include the rights issuable to a holder of the REIT Shares Amount of REIT Shares on the record date fixed for purposes of determining the holder of REIT Shares entitled to rights.

  • Membership Units means the limited liability company interests in the Company held by the Members, expressed as a number of units held by each Member and set forth opposite such Member's name on Schedule I attached hereto, as amended, modified or supplemented from time to time.

  • Common Units is defined in the Partnership Agreement.

  • Incentive Distribution Right means a non-voting Limited Partner Interest issued to the General Partner, which Partnership Interest will confer upon the holder thereof only the rights and obligations specifically provided in this Agreement with respect to Incentive Distribution Rights (and no other rights otherwise available to or other obligations of a holder of a Partnership Interest). Notwithstanding anything in this Agreement to the contrary, the holder of an Incentive Distribution Right shall not be entitled to vote such Incentive Distribution Right on any Partnership matter except as may otherwise be required by law.

  • Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.

  • Share Option means a Nonqualified Share Option or an Incentive Share Option.

  • Vested LTIP Units has the meaning provided in Section 4.4(d) hereof.

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

  • 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 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.

  • LTIP Units means LTIP Units, as such term is defined in the Partnership Agreement.

  • Membership Unit means a Membership Common Unit, a Company Preferred Unit, a Company Junior Unit or any other fractional share of the Membership Interests that the Managing Member has authorized pursuant to Section 4.1 or Section 4.2 hereof.