Partnership Percentage Interest means the percentage ownership interest in the Partnership of each Partner, which, except as set forth in the following sentence, shall be determined by dividing the number of Partnership Units owned by a Partner by the aggregate number of Partnership Units owned by all Partners. If the Partnership issues additional classes or series of Partnership Interest other than as contemplated herein, the interest in the Partnership among the classes or series of Partnership Interest shall be determined as set forth in the Partnership Unit Designation setting forth the rights and privileges of such additional classes or series of Partnership Interest, if any, and a Partner’s Partnership Percentage Interest will mean, with respect to each class or series of Partnership Interests held by such Partner, the product of such Partner’s Class Percentage Interest multiplied by the interest in the Partnership of such class or series of Partnership Interest.
Partnership Percentage Interest means, as to a Partner, the percentage obtained by dividing the Partnership Units (other than Class A Preferred Units, Class B Units or Class E Units) owned by such Partner by the total number of Partnership Units (other than Class A Preferred Units, Class B Units or Class E Units) then outstanding as specified in Schedule 6.1 attached hereto, as such exhibit may be amended and restated from time to time. For the avoidance of doubt, the Partnership Percentage Interest of any Class A Preferred Limited Partner, Class B Limited Partner or any Class E Limited Partner shall be deemed zero percent (0%).
Partnership Percentage Interest means as to each of TCC and Lehigh, an interest in the capital, profits and losses of the Partnership as follows:
Examples of Partnership Percentage Interest in a sentence
If the number of outstanding Partnership Units increases or decreases during a taxable year, each Partner’s Class Percentage Interest and Partnership Percentage Interest shall be adjusted by the General Partner effective as of the date of each such increase or decrease.
If a General Partner has been removed pursuant to this Section 7.04 and the Partnership is continued pursuant to Section 7.03, such General Partner shall promptly transfer and assign its General Partnership Interest for fair market value to the 41 substitute General Partner approved by Partners holding a majority of the Partnership Percentage Interest in accordance with Section 7.03(b) and otherwise admitted to the Partnership in accordance with Section 7.02.
The General Partner agrees that Partnership Common Units held by it and constituting a 0.1% Partnership Percentage Interest are designated as Partnership Units representing a General Partnership Interest.
More Definitions of Partnership Percentage Interest
Partnership Percentage Interest means as to each of TLCC GP LLC, a Delaware limited liability company ("TLCC GP"), Lehigh Portland Holdings, LLC, a Delaware limited liability company ("Lehigh GP"), TLCC LP LLC, a Delaware limited liability company ("TLCC LP"), and Lehigh Portland Investments, LLC, a Delaware limited liability company ("Lehigh LP), an interest in the capital, profits and losses of the Partnership as follows:
Partnership Percentage Interest means the percentage common equity ownership interest in the Partnership of each Partner, which, except as set forth in the following sentence, shall be determined by dividing the number of Partnership Common Units owned by a Partner by the aggregate number of Partnership Common Units owned by all Partners; provided, that for so long as any Partner holds Partnership Convertible Preferred Units, the Partners’ respective Partnership Percentage Interests shall be determined as if, immediately before such determination, each Partner holding Partnership Convertible Preferred Units had elected to convert all such Partnership Convertible Preferred Units into Partnership Common Units in accordance with the terms of the Partnership Convertible Preferred Units. If the Partnership issues classes or series of Partnership Interest other than Partnership Common Units and Partnership Convertible Preferred Units, the interest in the Partnership among the classes or series of Partnership Interests shall be determined as set forth in the Partnership Unit Designation setting forth the rights and privileges of such additional classes or series of Partnership Interest, if any, as contemplated by Section 4.02(a), and a Partner’s Partnership Percentage Interest will mean, with respect to each class or series of Partnership Interests held by such Partner, the product of such Partner’s Class Percentage Interest multiplied by the interest in the Partnership of such class or series of Partnership Interest.
Partnership Percentage Interest means, with respect to any Partner as of any date of determination, the interest, expressed as a percentage, in the Partnership held by such Partner, determined by dividing the Invested Capital of such Partner by the aggregate Invested Capital of all Partners, or if the Invested Capital of all Partners is zero, determined by dividing the Commitment of such Partner by the Aggregate Commitments.
Partnership Percentage Interest shall have the meaning specified in the Partnership Agreement.
Partnership Percentage Interest. The respective Partners’ interests in the profits and losses of the Partnership as set out on Exhibit A hereto or as may be amended by written agreement of the Partners from time to time.
Partnership Percentage Interest means a Partner’s percentage interest as is set forth on Schedule A.
Partnership Percentage Interest is hereby amended to read in its entirety as follows: