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. As defined in Recital H to this Agreement.

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.

Examples of Partnership Option in a sentence

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.
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.
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).
In the event the Partnership does --------------------- not elect to acquire all of the Partnership Interests specified in the Transfer Notice, the ▇▇▇▇▇▇▇▇ Partners, Mobil, and Volvo (but not Warrant Holdings) shall have the option of purchasing some or all of such available Partnership Interests during the thirty (30) Business Day period immediately following the Partnership Option Period (the "Partner Option Period") at the price and upon the terms set forth in the Transfer Notice.
For ninety (90) Business Days ------------------------- following receipt of the Transfer Notice (the "Partnership Option Period"), the Partnership shall have the option to purchase all or a portion of the Partnership Interest specified in the Transfer Notice at the price and upon the terms set forth in the Transfer Notice by delivering a written notice to the Selling Partner specifying the portion of the available Partnership Interests the Partnership desires to purchase.
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.
The Partnership shall distribute the proceeds from the sale of the Partnership Option Units to HEP.
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 following findings are prepared for the purposes of determining the suitability of the Affordable Housing Partnership Option for the inclusionary obligations of the Yacht Harbor Oaks subdivision only.
In the event the Partnership does not elect to acquire all of the Partnership Interests specified in the Transfer Notice, the C▇▇▇▇▇▇▇ Partners, Mobil, and Volvo (but not Warrant Holdings) shall have the option of purchasing some or all of such available Partnership Interests during the thirty (30) Business Day period immediately following the Partnership Option Period (the “Partner Option Period”) at the price and upon the terms set forth in the Transfer Notice.

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).

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.