Percentage of Partnership Interest definition

Percentage of Partnership Interest is defined in section 5.4(a).
Sample 1
Percentage of Partnership Interest. As to any Partner, the percentage in the Partnership shown opposite the name of such Partner on Exhibit 1 attached hereto, as determined by dividing the Partnership Units then owned by such Partner by the total number of Partnership Units then outstanding, as the same may be adjusted from time to time in accordance with this Agreement. Person: Any individual, partnership, corporation, trust, limited liability company or other entity. Phase: A discrete stage of construction of any Project.
Sample 1
Percentage of Partnership Interest of a Partner means the particular Partner's Percentage of Interest in the Partnership as set forth opposite the Partner's name in Exhibit "A" attached hereto, subject to adjustment as provided in Section 3.8 hereof.
Sample 1

Examples of Percentage of Partnership Interest in a sentence

  • If the Managing General Partner sells limited partnership interests to investors, such sale may have the effect of reducing or eliminating IBC's Percentage of Partnership Interest as a Limited Partner, at the discretion of the Managing General Partner.

  • The names and addresses of the Partners and their Percentage of Partnership Interest are set forth in Schedule A.

  • The Partners acknowledge that their Percentage of Partnership Interest may be altered in the event that one or more Partners do not contribute additional capital, or if additional persons not theretofore Limited Partners contribute capital to the Partnership.

  • Pledgor Pledged Subsidiary Percentage of Membership Interest owned by the Pledgor Pledgor Pledged Subsidiary Percentage of Partnership Interest owned by the Pledgor Pledgor Type of Entity Jurisdiction of Organization Mailing Address of Chief Executive Office Pledgor Prior Name Date of Name Change SUPPLEMENT NO.

  • If the Partnership elects not to exercise its option and some or all of the remaining Partners do elect, but cannot agree as to how to allocate among themselves the Percentage of Partnership Interest of the selling Partner, then the Percentage of Partnership Interest of the selling Partner shall be allocated among them in the same proportion that their Percentages of Partnership Interest bear to the aggregate Percentages of Partnership Interest of all Partners which so elect.

  • Exhibit 1 sets forth the number of Partnership Units owned by each Partner and the Percentage of Partnership Interest of each Partner, which Percentage of Partnership Interest shall be adjusted from time to time by the General Partner to reflect the issuance of additional Partnership Units, the redemption of Partnership Units, additional Capital Contributions and similar events having an effect on a Partner’s Percentage of Partnership Interest.

  • Except in connection with the liquidation of the Partnership, in which case all distributions shall be made in accordance with Article IX, distributions of Net Cash Flow shall be made to the Partners no less often than annually in accordance with the Partners’ Percentage of Partnership Interest.

  • The names and addresses of the General Partners, the amount of their contribution to the capital of the Partnership, the number of Units credited to each General Partner and their Percentage of Partnership Interest are set forth in Schedule A.

  • No Partner shall take any action on behalf of the Partnership unless such action has been approved by Partners holding a majority of the Percentage of Partnership Interest of all the Partners.

  • Such additional cash Capital Contribution shall not increase the Percentage of Partnership Interest of IGC LP, but shall be taken into account in determining Unrecovered Capital and in determining Capital Accounts.


More Definitions of Percentage of Partnership Interest

Percentage of Partnership Interest means those percentage interests listed in Exhibit A hereto, as such percentage interests may be adjusted under the terms hereof. "Person" means any individual, partnership, corporation, trust or other entity.
Sample 1
Percentage of Partnership Interest. As to a Partner, with respect to any class or series of Partnership Units held by such Partner, its interest in such class or series of Partnership Units as determined by dividing the number of Partnership Units in such class or series owned by such Partner by the total number of Partnership Units in such class or series then outstanding. For purposes of determining the rights and relationships among the various classes and series of Partnership Units, Preferred Units shall not be considered to have any share of the aggregate Percentage of Partnership Interest in the Partnership unless, and only to the extent, provided otherwise in the instrument creating such class or series of Preferred Units.
Sample 1
Percentage of Partnership Interest means the percentage interest of any Partner in the
Sample 1
Percentage of Partnership Interest means the percentage interest of any Partner in the Profits, Losses and Net Cash Flow of the Partnership as indicated on Schedule A, as such Schedule shall be amended from time to time.
Sample 1

Related to Percentage of Partnership Interest

  • Deemed Partnership Interest Value means, as of any date with respect to any class of Partnership Interests, the Deemed Value of the Partnership Interests of such class multiplied by the applicable Partner's Percentage Interest of such class.

  • Class B Membership Interest means a Class B Membership Interest in Holdings.

  • 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 the Act.

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

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

  • Class A Membership Interest means a Class A Membership Interest in Holdings.

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

  • Percentage Interest means, with respect to each Note Holder, a fraction, expressed as a percentage, the numerator of which is the Note Principal Balance of the Note held by such Note Holder and the denominator of which is the sum of the Note Principal Balances of all of the Notes.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Special Limited Partner Interest means the interest of the Special Limited Partner in the Partnership representing its right as the holder of an interest in distributions described in Sections 5.1(b)(iii)(A), (c), (d) and (e) (and any corresponding allocations of income, gain, loss and deduction under this Agreement).

  • Derivative Partnership Interests means any options, rights, warrants, appreciation rights, tracking, profit and phantom interests and other derivative securities relating to, convertible into or exchangeable for Partnership Interests.

  • Class C Percentage Interest As of any date of determination, with respect to the Class C Certificates, a percentage interest equal to a fraction, the numerator of which is the Class Principal Balance of the Class C Certificates on such date, and the denominator of which is the Class Principal Balance of the Class C Regular Interest on such date.

  • 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%).

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Total Percentage Interest means, with respect to any Partner, the quotient obtained by dividing the number of Units (vested or unvested) then owned by such Partner by the number of Units then owned by all Partners.

  • Members’ Percentage Interests means the ownership percentage interests as mentioned in Section I of this Agreement. During each fiscal year, the net profits and net losses of the Company (other than from capital transactions), and each item of income, gain, loss, deduction, or credit entering into the computation thereof, shall be credited or charged, as the case may be, to the capital accounts of each Member(s) in proportion to the Members' Percentage Interests. The net profits of the Company from capital transactions shall be allocated in the following order of priority: (a) to offset any negative balance in the capital accounts of the Member(s) in proportion to the amounts of the negative balance in their respective capital accounts, until all negative balances in the capital accounts have been eliminated; then (b) to the Member(s) in proportion to the Members’ Percentage Interests. The net losses of the Company from capital transactions shall be allocated in the following order of priority: (a) to the extent that the balance in the capital accounts of any Member(s) are in excess of their original contributions, to such Member(s) in proportion to the excess balances until all such excess balances have been reduced to zero; then (b) to the Member(s) in proportion to the Members’ Percentage Interests. The cash receipts of the Company shall be applied in the following order of priority: (a) to the payment of interest or amortization on any mortgages on the assets of the Company, amounts due on debts and liabilities of the Company other than those due to any Member(s), costs of the construction of the improvements to the assets of the Company and operating expenses of the Company; (b) to the payment of interest and establishment of cash reserves determined by the Member(s) to be necessary or appropriate, including without limitation, reserves for the operation of the Company’s business, construction, repairs, replacements, taxes and contingencies; and (d) to the repayment of any loans made to the Company by any Member(s). Thereafter, the cash receipts of the Company shall be distributed among the Member(s) as hereafter provided. Except as otherwise provided in this Agreement or otherwise required by law, distributions of cash receipts of the Company, other than from capital transactions, shall be allocated among the Member(s) in proportion to the Members’ Percentage Interests. Except as otherwise provided in this Agreement or otherwise required by law, distributions of cash receipts from capital transactions shall be allocated in the following order of priority: (a) to the Member(s) in proportion to their respective capital accounts until each Member(s) has received cash distributions equal to any positive balance in their capital account; then (b) to the Member(s) in proportion to the Members' Percentage Interests. It is the intention of the Member(s) that the allocations under this Agreement shall be deemed to have “substantial economic effect” within the meaning of Section 704 of the Internal Revenue Code and Treas. Reg. Section 1.704-1. Should the provisions of this Agreement be inconsistent with or in conflict with Section 704 of the Code or the Regulations thereunder, then Section 704 of the Code and the Regulations shall be deemed to override the contrary provisions thereof. If Section 704 of the Regulations at any time require that limited liability company operating agreements contain provisions which are not expressly set forth herein, such provisions shall be incorporated into this Agreement by reference and shall be deemed a part of this Agreement to the same extent as though they had been expressly set forth herein.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • Class B Limited Partner means any Person executing (by power of attorney or otherwise) this Agreement as of the date hereof as a Class B Limited Partner or hereafter admitted to the Partnership as a Class B Limited Partner as herein provided, but shall not include any Person who has ceased to be a Class B Limited Partner in the Partnership.

  • Percentage Interests shall have the meaning specified in the Trust Agreement.

  • Limited Partner Interest means a Partnership Interest of a Limited Partner in the Partnership representing a fractional part of the Partnership Interests of all Limited Partners and includes any and all benefits to which the holder of such a Partnership Interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement. A Limited Partner Interest may be expressed as a number of Partnership Common Units, Partnership Preferred Units or other Partnership Units.

  • 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 Unit Economic Balance means (i) the Capital Account balance of the General Partner plus the amount of the General Partner’s share of any Partner Minimum Gain or Partnership Minimum Gain, in each case to the extent attributable to the General Partner’s Partnership Units divided by (ii) the number of the General Partner’s Partnership Units.

  • Membership Interest means a Member’s entire interest in the Company including such Member’s right to receive allocations and distributions pursuant to this Agreement and the right to participate in the management of the business and affairs of the Company in accordance with this Agreement, including the right to vote on, consent to, or otherwise participate in any decision or action of or by the Members granted pursuant to this 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.

  • Class B Percentage Interest As of any date of determination, with respect to the Class B Certificates, a percentage interest equal to a fraction, the numerator of which is the Class Principal Balance of the Class B Certificates on such date, and the denominator of which is the Class Principal Balance of the Class B Regular Interest on such date.

  • Class A Common Units means a Common Unit which is designated as a “Class A Common Unit” and which has the rights, preferences and other privileges designated in Annex A hereto and elsewhere in this Agreement in respect of holders of Common Units.