Examples of Subsidiary Partnership in a sentence
Crescent Equities has represented to us that each of the Subsidiary Partnerships formed prior to January 1, 1997 will claim classification as a partnership under the Prior Regulations, as reflected on federal income tax returns to be filed by each Subsidiary Partnership for the tax year ending December 31, 1996.
As required by the Tax Receivable Agreement, the Managing Member shall make, and shall cause each Subsidiary Partnership to make, an election under Section 754 of the Code which election shall be in effect for each taxable year in which RCAP or any Permitted Transferee of RCAP Transfers Class B Units.
These limited partner interests have been duly authorized by the respective agreements of limited partnership of the Subsidiary Partnerships (the "Subsidiary Partnership Agreements"), have been validly issued in accordance with the respective Subsidiary Partnership Agreements, are fully paid and non-assessable, except to the extent such non-assessability may be affected by Section 17-607 of the Delaware Act, and are the only outstanding limited partner interests of all of the Subsidiary Partnerships.
Equity Inns Services, Inc., a wholly-owned subsidiary of the Company ("Services"), owns a 1% general partnership interest, and the Operating Partnership owns a 99% limited partnership interest, in the Second Subsidiary Partnership.
EQI Financing Corporation, a wholly-owned subsidiary of the Company ("Financing"), owns a 1% general partnership interest, and the Operating Partnership owns a 99% limited partnership interest, in the First Subsidiary Partnership.