Penske Partners definition

Penske Partners means (i) PTLC, (ii) PTL GP until the date, if any, that PTL GP ceases to be a Controlled Affiliate of Penske Corporation and (iii) PAG until the date, if any, that PAG ceases to be a Controlled Affiliate of Penske Corporation, and, in each case, any Permitted Intragroup Transferees thereof.
Sample 1
Penske Partners means (i) PTLC and (ii) PAG until the date, if any, that PAG ceases to be a Controlled Affiliate of Penske Corporation, and, in each case, any Permitted Intragroup Transferees thereof.
Sample 1
Penske Partners means (i) PTLC, (ii) PTL GP until the date, if any, that PTL GP ceases to be a Controlled Affiliate of Penske Corporation and (iii) subject to Subsections 5.2(b)(i), 5.2(b)(ii) and the last sentence of Subsection 6.6(b), PAG until the date, if any, that PAG ceases to be a Controlled Affiliate of Penske Corporation, and, in each case, any Permitted Intragroup Transferees thereof. The “Percentage Interest” of a Partner shall be the percentage ownership set forth next to its respective name on Schedule A hereto, as such Schedule A shall be amended, restated, supplemented or otherwise modified from time to time to reflect Sales of then outstanding Partnership Interests, issuance and sales of new Partnership Interests, and additional Capital Contributions of the Partners, in each case, in accordance with the terms of this Agreement. “Permitted Intragroup Transferees” of a Partner shall mean transferees and assignees of such Partner to which a Partnership Interest has been Sold as permitted or required under Subsections 9.2(a) or 9.2(b), excluding those that have ceased to be a member of the PTLC Consolidated Group, the PAG Consolidated Group or the Mitsui Consolidated Group, as the case may be.
Sample 1

Examples of Penske Partners in a sentence

  • Upon receipt of the IPO Notice, the GE Partners or Penske Partners, as applicable, will have the option to simultaneously seek a purchaser of the Partnership Interests and Member Interests held by the Exercising Partner.

  • If the General Partner, acting reasonably, determines that the Indemnified Amounts (as defined in the PAG Security Agreement) or the Obligations (as defined in the PTLC Security Agreement) are unlikely to be paid in full when due, then by written notice to the Limited Partners (the “Liquidity IPO Notice”), the General Partner may cause the Partnership to effect an IPO and apply to the payment of the Indemnified Amounts all or a portion of the proceeds to which the Penske Partners are entitled.

  • The execution, delivery and performance by each Penske Partner of this Agreement and the other Transaction Documents to which it is a party, have been duly authorized by all necessary corporation and other action on the part of the Penske Partners.

  • The Partnership is a Delaware limited partnership, the sole partners of which are the GE Partners, which collectively have a 60% Partnership Interest consisting solely of limited partner interests in the Partnership (the “GE Interest”), and the Penske Partners (other than PAG), which collectively have a 40% Partnership Interest consisting of a general partner interest and limited partner interests in the Partnership.

  • As of the Effective Time, the GE Partners will collectively have a 51% Partnership Interest, and the Penske Partners will collectively have a 49% Partnership Interest.

  • Notwithstanding the foregoing, references in this Section 4A to the Penske Partners shall only include PTLC, Holdings and Holdings 2 and shall not include PAG.

  • All information made available by the Partnership or the Penske Partners includes, in addition to historical information, forward-looking statements that involve risks and uncertainties.

Related to Penske Partners

  • Service Partners means any successful vendor who is awarded the proposal or who entered into an agreement with CIPC and/or its clients to offer consulting services in areas such as but not limited to, strategic e-business consulting, evaluation, implementation and continuous improvement or system integration.

  • Hosting Partners means companies who entered into an agreement with CIPC in the areas of application management; application hosting, application service provision, and marketplace hosting are incorporated in this category.

  • Partners means the General Partner and the Limited Partners.

  • Commercial Partners means any third party with whom a contract is lawfully concluded for the exploitation of the Commercial Rights;

  • GP means Gottbetter & Partners, LLP.

  • General partnership means an organization formed under chapters 45-13 through 45-21.

  • LP means the aggregate quantity of Lost Production during such Month (expressed in MWh) and

  • General Partner means the Company or its successors as general partner of the Partnership.

  • General Partners means all such Persons.

  • Asset Management is a principle/practice that includes planning processes, approaches, plans, or related documents that support an integrated lifecycle approach to the effective stewardship of infrastructure assets to maximize benefits and effectively manage risk.

  • CLO Asset Manager means, with respect to any Securitization Vehicle that is a CLO, the entity that is responsible for managing or administering the underlying assets of such Securitization Vehicle or, if applicable, the assets of any Intervening Trust Vehicle (including, without limitation, the right to exercise any consent and control rights available to the Directing Holder).

  • Blackstone means collectively, The Blackstone Group L.P., a Delaware limited partnership, and any Affiliate thereof (excluding any natural persons and any portfolio companies of any Blackstone-sponsored fund).

  • Asset Management Company/UTI AMC/AMC/Investment Manager means the UTI Asset Management Company Limited incorporated under the Companies Act, 1956, (1 of 1956) replaced by The Companies Act, 2013 (No. 18 of 2013) and approved as such by Securities and Exchange Board of India (SEBI) under sub-regulation (2) of Regulation 21 to act as the Investment Manager to the schemes of UTI Mutual Fund;

  • Lead Partner means the lead partner of a joint venture, as described in Sub-Clause

  • Asset Manager means the manager of each of the Series Assets as specified in each Series Designation or, its permitted successors or assigns, appointed in accordance with Section 5.10.

  • Carlyle means Carlyle Investment Management, LLC.

  • TPG has the meaning set forth in the preamble.

  • Business Partner means a legal entity that requires use of a Cloud Service in connection with Customer’s and its Affiliates’ internal business operations. These may include customers, distributors, service providers and/or suppliers of Customer.

  • Support Partners – means any successful vendor who entered into partnership agreement with CIPC and/or its clients for the provision of support services to a specific solution.

  • Managing Partner means Geodyne Production Company, a Delaware corporation, and any other Person admitted as additional or Substituted Managing Partner pursuant to Article Six of this Agreement.

  • Sub-Manager Any Person with which the Property Manager or the Special Servicer has entered into a Sub-Management Agreement.

  • Investor Limited Partner means any Limited Partner so designated at the time of its admission as a partner of the Partnership.

  • Operating Company means an “operating company” within the meaning of 29 C.F.R. §2510.3-101(c) of the Plan Asset Regulations.

  • Management Group means at any time, the Chairman of the board of directors, the Chief Executive Officer, the President, any Managing Director, Executive Vice President, Senior Vice President or Vice President, any Treasurer and any Secretary of Holdings or other executive officer of Holdings or any Subsidiary of Holdings at such time.

  • Asset Management Company/UTI AMC/AMC/Investment Manager means the UTI Asset Management Company Limited incorporated under the Companies Act, 1956, (1 of 1956) [replaced by The Companies Act, 2013 (No.18 of 2013)] and approved as such by Securities and Exchange Board of India (SEBI) under sub-regulation (2) of Regulation 21 to act as the Investment Manager to the schemes of UTI Mutual Fund.

  • Departing General Partner means a former General Partner from and after the effective date of any withdrawal or removal of such former General Partner pursuant to Section 11.1 or Section 11.2.