Promote Unit Principles definition

Promote Unit Principles means the principles governing the designation and distribution of Promote Unit Cash or Other Property, as in effect from time to time and reflected on Schedule B.
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Examples of Promote Unit Principles in a sentence

  • All distributions of Promote Unit Cash or Other Property shall be made to the holders of Promote Units in the manner determined by the General Partner in accordance with the Promote Unit Principles.

  • All distributions of Downstairs Promote Unit Cash or Other Property shall be made to the holders of Downstairs Promote Units in the manner determined by the General Partner in accordance with the Downstairs Promote Unit Principles.

  • In the event of any conflict between the provisions of this Agreement and the Downstairs Promote Unit Principles, the Downstairs Promote Unit Principles shall control.

  • Downstairs Promote Unit Items shall be allocated by the General Partner in accordance with the Downstairs Promote Unit Principles and Section 704(b) of the Code.

  • In the event of any conflict between the provisions of this Agreement and the Promote Unit Principles, the Promote Unit Principles shall control.

  • Promote Unit Items shall be allocated by the General Partner in accordance with the Promote Unit Principles and Section 704(b) of the Code.

  • Notwithstanding the foregoing, incentive compensation payable to the Partner in respect of the Ring-Fence Period (as defined in the Promote Unit Principles shall be determined in accordance with the Promote Unit Principles.

Related to Promote Unit Principles

  • Partnership Minimum Gain has the meaning set forth in Regulations Section 1.704-2(b)(2), and the amount of Partnership Minimum Gain, as well as any net increase or decrease in Partnership Minimum Gain, for a Partnership Year shall be determined in accordance with the rules of Regulations Section 1.704-2(d).

  • Partner Nonrecourse Debt Minimum Gain has the meaning set forth in Treasury Regulation Section 1.704-2(i)(2).

  • Partner Minimum Gain means an amount, with respect to each Partner Nonrecourse Debt, equal to the Partnership Minimum Gain that would result if such Partner Nonrecourse Debt were treated as a Nonrecourse Liability, determined in accordance with Regulations Section 1.704-2(i)(3).

  • Good Industry Practice means standards, practices, methods and procedures conforming to the Law and the exercise of the degree of skill and care, diligence, prudence and foresight which would reasonably and ordinarily be expected from a skilled and experienced person or body engaged within the relevant industry or business sector;