Special Limited Partnership Interest definition

Special Limited Partnership Interest means the interest of the Special Limited Partner in the Partnership representing solely its right as the holder of an interest in distributions described in Section 5.2 (and any corresponding allocations of income, gain, loss and deduction under this Agreement), and not any interest in Partnership Units it may own from time to time.
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Special Limited Partnership Interest means the interest of the Special Limited Partner in the Partnership representing solely its right as the holder of an interest in distributions described in Section 5.2(c) (and any corresponding allocations of income, gain, loss and deduction under this Agreement), and not any interest in Partnership Units it may own from time to time.
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Special Limited Partnership Interest means the interest in the Operating Partnership granted to the Manager pursuant to the terms of the Partnership Agreement.
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Examples of Special Limited Partnership Interest in a sentence

  • In the event of a Termination by the General Partner because of a material breach of the Advisory Agreement by the Advisor as a result of willful or intentional misconduct or bad faith on behalf of the Advisor, no Subordinated Distribution Due Upon Termination is payable to the Special Limited Partner, and the Special Limited Partnership Interest shall be redeemed for no consideration.

  • Upon payment of the Special Distribution and the redemption of such interest, the special limited partnership interest of the SF General Partner in the Operating Partnership shall be reduced to 0.50% (the "Special Limited Partnership Interest"), and the general partnership interest of New LP in the Operating Partnership shall be increased to 99.50%.

  • At any time on or after January 1, 1999, the SF General Partner may require, upon 30 days prior written notice to the KM General Partner and the Operating Partnership (the "Put Notice"), that the Operating Partnership purchase all (but not less than all) of the Special Limited Partnership Interest.

  • All obligations of the SF General Partner (other than obligations with respect to payments that may become due as a result of any claims made by any holder of Indemnified Debt prior to date of termination) with respect to the Debt Indemnity shall terminate upon the delivery of a Put Notice or a sale pursuant to the exercise of the call rights described in Section 1.3 by the SF General Partner with respect to the Special Limited Partnership Interest.

  • Any request for consent shall advise the General Partner of the percentage interest in the Special Limited Partnership Interest proposed to be transferred.

  • If there is more than one Special Limited Partner, distributions to the Special Limited Partners shall be made pro rata in accordance with the percentage of the Special Limited Partnership Interest held by each Special Limited Partner.

  • See the section entitled "Our Manager and Management Agreement — Management Compensation — Special Limited Partnership Interest" included elsewhere in this prospectus for information relating to the calculation of distributions with respect to the special limited partnership interest and conditions under which it may be paid.

  • All obligations of the SF General Partner (other than ----------- obligations with respect to payments that may become due as a result of any claims made by any holder of Indemnified Debt prior to date of termination) with respect to the Debt Indemnity shall terminate upon the delivery of a Put Notice or a sale pursuant to the exercise of the call rights described in Section 1.3 by the SF General Partner with respect to the Special Limited Partnership Interest.

  • Xxxxx Member EXHIBIT A CONTRIBUTIONS & INTERESTS Partner Address Cash Contribution Contributions General Partnership Interest (%) Limited Partnership Interest (%) Special Limited Partnership Interest (%) GENERAL PARTNER: Mxxxx National REIT II, Inc.

  • General Partnership Interest $200,000 8,888 100 % New York City Advisors II, LLC Limited Partnership Interest $2,020 90 100 % New York City Special Limited Partnership II, LLC Special Limited Partnership Interest None Not applicable Not applicable Exhibit B Allocations For purposes of this Exhibit B, the term “Partner” shall include the Special Limited Partner.


More Definitions of Special Limited Partnership Interest

Special Limited Partnership Interest means the interest of the Special Limited Partner in the Partnership representing solely its right as the holder of an interest in distributions described in Section 5.2(c) (and any corresponding allocations of income, gain, loss and deduction under this Agreement), and not any interest in Partnership Units it may own from time to time. “Specified Redemption Date” means the first business day of the month following the month of the day that is 45 days after the receipt by the General Partner of the Notice of Redemption. “Subsidiary” means, with respect to any Person, any corporation or other entity of which a majority of (i) the voting power of the voting equity securities or (ii) the outstanding equity interests is owned, directly or indirectly, by such Person. “Substitute Limited Partner” means any Person admitted to the Partnership as a Limited Partner pursuant to Section 9.3. “Survivor” has the meaning set forth in Section 7.1(c). “Tax Matters Partner” has the meaning described in Section 10.5(a).
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Related to Special Limited Partnership Interest

  • 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 such Act.

  • Special Limited Partner means WNC Housing, L.P., a California limited partnership, and such other Persons as are admitted to the Partnership as additional or substitute Special Limited Partners pursuant to this Agreement.

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

  • Partnership Interest means an ownership interest in the Partnership representing a Capital Contribution by either a Limited Partner or the General Partner 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 Partnership Interest may be expressed as a number of Partnership Units.

  • Limited Partner Interest means a Partnership Interest of a Limited Partner in the Partnership representing a fractional part of the Partnership Interests of all 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 Units (other than GP 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.

  • 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.