Significant Limited Partner definition

Significant Limited Partner means any Limited Partner that, together with any Personal Planning Vehicle of such Limited Partner, held, immediately following the consummation of the distribution by The Blackstone Group L.P. to its common unitholders of shares of Class A common stock of the General Partner (as contemplated by the General Partner’s Registration Statement on Form 10 (File No. 001-36869)) and, as of any subsequent date of determination, continues to hold, a number of Units (vested and unvested) equal to not less than five percent (5%) of the total number of Units (vested and unvested) then outstanding.
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Significant Limited Partner has the meaning given to such term in the Partnership Agreement.
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Significant Limited Partner means any Limited Partner that, as of any date of determination, would be entitled to receive at least 10% of the total amount of the Early Termination Payments payable to all Limited Partners hereunder if the Corporate Taxpayer had exercised its right of early termination on the date of the most recent Exchange prior to such date of determination (excluding, for purposes of this sentence, all payments made to any Limited Partner pursuant to this Agreement since the date of such most recent Exchange).
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Examples of Significant Limited Partner in a sentence

  • As soon as practicable after the end of each quarter in each Partnership Year, the Partnership shall deliver to PTLC and each Significant Limited Partner a written report which shall include forecasts for the current quarter, including forecast changes in debt balances of the Partnership.

  • In addition to any other approval required under the Act, any Change of Control of the Partnership (excluding, for the avoidance of doubt, the changes contemplated by Subsection 1.1(c)) shall be subject to approval by each Significant Limited Partner.

  • Without limiting the provisions of Section 6.5(e)(i) above, not less than twenty-one (21) days prior to the presentation of the annual budget and business plan of the Partnership Group to the Advisory Committee, the General Partner shall provide a draft thereof to each Significant Limited Partner.

  • During the twenty-one (21) day period prior to the presentation of the annual budget and business plan of the Partnership Group to the Advisory Committee, each Significant Limited Partner may review with the General Partner such annual budget and business plan, and may propose for consideration any recommendations thereto (which may or may not be accepted in the sole discretion of the General Partner).

  • The Partnership shall maintain an internal audit staff which (i) shall report directly to the Advisory Committee and (ii) without the consent of each Significant Limited Partner, shall not be utilized by any Partner or any of its Affiliates (other than the Partnership Group) with respect to its separate business.

  • All other amendments shall require the approval of the General Partner and each Significant Limited Partner.

  • In the event the General Partner shall determine and each Significant Limited Partner approve that it is prudent to modify the manner in which the Capital Accounts, or any debits or credits thereto, are computed in order to comply with such Regulation, the Partnership may make such modifications (provided that no such modification shall have a material adverse effect on the economic position of any Partner).

  • In addition to the foregoing, the members of the Advisory Committee designated by each Significant Limited Partner may make any comments to, raise any questions or make any recommendations to the annual budget and business plan of the Partnership Group presented to the Advisory Committee at any meeting of the Advisory Committee.

  • Each Significant Limited Partner shall have the right, to the extent provided in Subsection 9.4(a), to deliver an IPO Notice to the General Partner and the other Partners.

  • Upon the dissolution of the Partnership and the failure to continue the Partnership as provided in Section 11.1 hereof, the General Partner or, if there is no General Partner, a Person approved by PTLC and each Significant Limited Partner, shall act as liquidator to wind up the Partnership.


More Definitions of Significant Limited Partner

Significant Limited Partner means any Limited Partner whose Capital Account constitutes 30% or more of the aggregate Capital Accounts of the Limited Partners as of any date.
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Significant Limited Partner means each of PAG and MBK USA CV, so long as such Person holds at least a ten percent (10%) Percentage Interest.
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Related to Significant Limited Partner

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

  • Foreign limited partnership means a partnership formed under laws other than of this state and having as partners one or more general partners and one or more limited partners.

  • Limited Partner means, prior to the admission of the first Additional Limited Partner to the Partnership, the Initial Limited Partner, and thereafter any Person named as a Limited Partner in Exhibit A, as such Exhibit may be amended from time to time, upon the execution and delivery by such Person of an additional limited partner signature page, or any Substituted Limited Partner or Additional Limited Partner, in such Person’s capacity as a Limited Partner of the Partnership.

  • Single member limited liability company means a limited liability company that has one direct member.

  • Limited Partnership Agreement means the Second Amended and Restated Agreement of Limited Partnership of the Partnership dated as of March 9, 2004, as amended from time to time.

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

  • General Partner has the meaning set forth in the Preamble.

  • Limited liability partnership or “LLP” shall mean a Company governed by Limited Liability Partnership Act 2008 or as amended;

  • Borrower Partnership Agreement means the Limited Partnership Agreement of the Borrower dated as of January 17, 2014 as such agreement may be amended, restated, modified or supplemented from time to time with the consent of the Administrative Agent or as permitted under Section 10.10.

  • Limited Partners means all such Persons.

  • Member-managed limited liability company means a limited liability company that is not a manager-managed limited liability company.

  • Life Member means an Individual appointed as a Life Member of the Club under clause 5.2.

  • 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.

  • 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.

  • Organizational Limited Partner means Xxxxx X. Xxxxxxx.